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

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

<!-- Field: Rule-Page --><div style="font-family: Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="border-top: Black 4pt solid; border-bottom: Black 1.5pt solid; font: 1pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></div></div><!-- Field: /Rule-Page -->

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt">SECURITIES
AND EXCHANGE COMMISSION</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt">Washington,
D.C. 20549</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt">FORM
<span id="xdx_907_edei--DocumentType_c20220101__20221231_znPu5IaGNzpl"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:DocumentType">20-F</ix:nonNumeric></span></span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Mark
One)</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_edei--DocumentRegistrationStatement_c20220101__20221231_z8IBWR1x9Nt3"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleanfalse" name="dei:DocumentRegistrationStatement">&#9744;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REGISTRATION
    STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_edei--DocumentAnnualReport_c20220101__20221231_zd6X3D6X2YTi"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleantrue" name="dei:DocumentAnnualReport">&#9746;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ANNUAL
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
  </table>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the fiscal year ended <span id="xdx_901_edei--DocumentPeriodEndDate_c20220101__20221231_z1CL0I1eIlW2"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate"><span id="xdx_90D_edei--CurrentFiscalYearEndDate_c20220101__20221231_zGt2ypuEOT5a"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:datemonthdayen" name="dei:CurrentFiscalYearEndDate">December 31</ix:nonNumeric></span>, <span id="xdx_90D_edei--DocumentFiscalYearFocus_c20220101__20221231_z7m0Ha6KngH1"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:DocumentFiscalYearFocus">2022</ix:nonNumeric></span></ix:nonNumeric></span></span></p>

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

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_edei--DocumentTransitionReport_c20220101__20221231_zeMbTjp6ZMUe"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleanfalse" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
  </table>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_edei--DocumentShellCompanyReport_c20220101__20221231_zrNNbBoUrW0a"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleanfalse" name="dei:DocumentShellCompanyReport">&#9744;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SHELL
    COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of event requiring this shell company report</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the transition period from _____________________ to _____________________</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commission
file number: </b><span id="xdx_901_edei--EntityFileNumber_c20220101__20221231_zmkCXWblnGei"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityFileNumber">001-41353</ix:nonNumeric></span></span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><span id="xdx_905_edei--EntityRegistrantName_c20220101__20221231_z1V72EatM9m"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityRegistrantName">GENIUS
GROUP LIMITED</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of Registrant as specified in its charter)</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Translation
of Registrant&#8217;s name into English)</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--EntityIncorporationStateCountryCode_c20220101__20221231_zDyi8NZn79v9"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt-sec:edgarprovcountryen" name="dei:EntityIncorporationStateCountryCode">Singapore</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Jurisdiction
of incorporation or organization)</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_edei--EntityAddressAddressLine1_c20220101__20221231_zhYhIPgLjhV5"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityAddressAddressLine1">8
Amoy Street #01-01</ix:nonNumeric></span>,</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_edei--EntityAddressCityOrTown_c20220101__20221231_z7e6e8i8JxIf"><span id="xdx_900_edei--EntityAddressCountry_c20220101__20221231_zTcssRbgygn"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityAddressCityOrTown"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt-sec:countrynameen" name="dei:EntityAddressCountry">Singapore</ix:nonNumeric></ix:nonNumeric></span></span>
<span id="xdx_90F_edei--EntityAddressPostalZipCode_c20220101__20221231_zJs5cfuhmosd"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityAddressPostalZipCode">049950</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of principal executive offices)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--ContactPersonnelName_c20220101__20221231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zvK6Icdgxnyb"><ix:nonNumeric contextRef="From2022-01-012022-12-31_dei_BusinessContactMember" name="dei:ContactPersonnelName">Roger
James Hamilton</ix:nonNumeric></span>, Chief Executive Officer</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C/O
Greg Lavelle,</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Puglisi
&amp; Associates</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_90D_edei--EntityAddressAddressLine1_c20220101__20221231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zUsYZ9hEcRAd"><ix:nonNumeric contextRef="From2022-01-012022-12-31_dei_BusinessContactMember" name="dei:EntityAddressAddressLine1">850
Library Avenue, Suite 204</ix:nonNumeric></span>,</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_902_edei--EntityAddressCityOrTown_c20220101__20221231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zN1NZIwBNZVe"><ix:nonNumeric contextRef="From2022-01-012022-12-31_dei_BusinessContactMember" name="dei:EntityAddressCityOrTown">Newark</ix:nonNumeric></span>,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:
<span id="xdx_906_edei--CityAreaCode_c20220101__20221231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zIQdZPdsXeB5"><ix:nonNumeric contextRef="From2022-01-012022-12-31_dei_BusinessContactMember" name="dei:CityAreaCode">302</ix:nonNumeric></span>-<span id="xdx_901_edei--LocalPhoneNumber_c20220101__20221231__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_z4Jn5HKexif9"><ix:nonNumeric contextRef="From2022-01-012022-12-31_dei_BusinessContactMember" name="dei:LocalPhoneNumber">738-6680</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered or to be registered pursuant to Section 12(b) of the Act.</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Securities
registered or to be registered pursuant to Section 12(g) of the Act: None</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each
of the issuer&#8217;s classes of capital or common stock as of the close of the period covered by the Annual Report: As of December 31,
2022, there were <span id="xdx_90B_edei--EntityCommonStockSharesOutstanding_iI_c20221231_zVFMYuCc8eU6"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">27,705,227</ix:nonFraction></span> shares of the registrant&#8217;s ordinary shares, no par value per share, issued and outstanding.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Yes &#9746; <span id="xdx_907_edei--EntityWellKnownSeasonedIssuer_c20220101__20221231_zYGOJYbyEPy4"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityWellKnownSeasonedIssuer">No</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934.</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Yes &#9746; <span id="xdx_907_edei--EntityVoluntaryFilers_c20220101__20221231_zl2s6m2sgnG8"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityVoluntaryFilers">No</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Note
&#8211; Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 from their obligations under those Sections.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Yes &#9746; <span id="xdx_90A_edei--EntityCurrentReportingStatus_c20220101__20221231_zpmpQi1r4j7"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityCurrentReportingStatus">No</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data
File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding
12 months (or for such shorter period that the registrant was required to submit and post such files).</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;
    <span id="xdx_903_edei--EntityInteractiveDataCurrent_c20220101__20221231_zVHXjmoUSr34"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric></span> &#9744; No</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    accelerated filer &#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 33%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    filer &#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 33%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityFilerCategory_c20220101__20221231_z5PZeLiMxxD9"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated
    filer</ix:nonNumeric></span> &#9746;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
    growth company <span id="xdx_908_edei--EntityEmergingGrowthCompany_c20220101__20221231_zA93N8P6852c"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleantrue" name="dei:EntityEmergingGrowthCompany">&#9746;</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, 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&#8224; provided
pursuant to Section 13(a) of the Exchange Act. <span id="xdx_906_edei--EntityExTransitionPeriod_c20220101__20221231_zDOLr9t8HyBb"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleanfalse" name="dei:EntityExTransitionPeriod">&#9744;</ix:nonNumeric></span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8224;
The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 21%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
    GAAP &#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 55%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_edei--DocumentAccountingStandard_c20220101__20221231_zURvIKNwjQ95"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:DocumentAccountingStandard">International Financial Reporting Standards</ix:nonNumeric></span> as issued by the International Accounting Standards Board &#9746;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    &#9744;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
&#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the
registrant has elected to follow. &#9744; Item 17 &#9744; Item 18</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). &#9744; Yes &#9746; <span id="xdx_901_edei--EntityShellCompany_c20220101__20221231_zTJcGQBVAN42"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt:booleanfalse" name="dei:EntityShellCompany">No</ix:nonNumeric></span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. &#9744; Yes &#9744; No</span></p>

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

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

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


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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
aid in the understanding the entities, acquisitions, products, services and certain other concepts referred to in this Annual Report,
the following non-exhaustive glossary of terms is provided:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>AI
</b>means Artificial Intelligence, which is a technology that enables machine learning, specifically in the case of Genius Group where
our Genie virtual assistant is able to recommend personalized steps for each student based on Genie learning the personal strengths,
passions, purpose, preferences and level of each student through their inputs on our Edtech platform.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Certification
</b>refers to the digital courses on our GeniusU platform that faculty members take in order to be certified to mentor students on GeniusU,
and to be able to add their own courses and products to GeniusU.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>City
Leader </b>refers to our mentors who host monthly events in their city to support the Students and mentors in their local area.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible
Note Fund Raise or convertible note fund raise </b>refers to Post IPO fund raise by secured convertible note with proceeds of $17.0 million
for the face amount of $18.1 million in September, 2022.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E-Square
</b>refers to E-Squared Education Enterprises (Pty) Ltd, a South African private limited company and one of the Acquisitions as defined
below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Edtech
</b>is an abbreviation of Educational Technology and refers to technology designed to improve the effectiveness, efficiency and experience
of the education process. Genius Group is focused on growing as an Edtech group with the ability to scale rapidly and operate globally.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Education
Angels </b>refers to Education Angels in Home Childcare Limited, a New Zealand private limited company and one of the Acquisitions as
defined below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
Group </b>(or the <b>Group</b>) refers to the entire group of companies within Genius Group, which include the four companies in the
Pre-IPO Group and, following the closing of their acquisitions, the five Acquisitions as defined below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneurs
Institute </b>refers to Wealth Dynamics Pte Ltd, a Singapore private limited company and one of the companies in the Pre-IPO Group.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
Resorts </b>refers to Entrepreneur Resorts Limited, a Seychelles public listed company on the Seychelles Merj Stock Exchange (Ticker:
ERL). Entrepreneur Resorts was acquired by Genius Group in 2020.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
Group Ltd </b>refers specifically to the holding company, Genius Group Limited, the Singapore public limited company which owns the other
companies in the Group. Prior to a corporate name change in July 2019, it was known as GeniusU Pte Ltd. For the avoidance of doubt, references
in this Annual Report to Genius Group Ltd with respect to periods prior to its July 2019 name change should be understood as references
to the company as operated under its previous name.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GeniusU
Ltd </b>refers to the company formed in August 2019 under the corporate name GeniusU Pte Ltd, and subsequently converted to a public
company, GeniusU Ltd in May 2021 (as distinct from its parent Genius Group Ltd, the current Group holding company, which until July 2019
used the name GeniusU Pte Ltd).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GeniusU</b>,
when used without any corporate suffix or otherwise not as part of a corporate name, refers to the Edtech platform including website,
mobile app, AI system, data and software system under the GeniusU brand.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IASB
</b>refers to International Accounting Standards Board.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IFRS
</b>refers to International Financial Reporting Standards as issued by IASB.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IPO
</b>refers to the initial public offering of our ordinary shares that was consummated on April 14, 2022.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Acquisitions
</b>refers to the five companies that we acquire following our IPO including Revealed Films acquired in Oct 2022.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mentor
</b>refers to our faculty members who have taken and passed Certifications on GeniusU.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Microcamp
</b>refers to courses that are a combination of digital content on our GeniusU Edtech platform and live in-person courses conducted with
our mentors.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Microdegree
</b>refers to the digital courses on our GeniusU Edtech platform. These are a combination of video, audio and text-based learning with
assessments and exercises that students can take in their own time, on their own or with the guidance of our faculty.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Microschool
</b>refers to the scheduled, live digital courses on our GeniusU Edtech platform. These are similar in format to microdegrees but differ
in that they are conducted live together with other students and the guidance of our faculty, with live interaction, feedback and challenge-based
presentations, competitions and awards.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Partners
</b>refer to all individuals who are creating, marketing, delivering or hosting courses on GeniusU and PIN, and all faculty members delivering
courses in all other Group companies.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Pre-IPO
Group </b>refers to the four companies which were already operating as a group in 2020 prior to our IPO on 14 April 2022, namely Genius
Group Ltd, GeniusU Ltd, Entrepreneurs Institute and Entrepreneur Resorts.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
Investors Network </b>(or <b>PIN</b>) refers to Property Investors Network Ltd combined with its sister company Mastermind Principles
Limited, a United Kingdom (&#8220;U.K.&#8221;) private limited company and one of the Acquisitions as defined above.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revealed
Films (</b>or <b>RF) </b>refers to Revealed Films Inc, US Corporation and one of the Acquisitions as defined above.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Students
</b>refer to all individuals who have registered for courses in our Group companies. This is further divided into Free Students, who
have registered for free courses, and Paying Students, who have registered and paid for courses.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>University
of Antelope Valley </b>(or <b>UAV</b>) refers to University of Antelope Valley, Inc., a California corporation and one of the Acquisitions
as defined above.</span></p>

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


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

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_1">ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">6</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_2">ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_3">ITEM 3. KEY INFORMATION</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">6</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_9">A. Reserved</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_4">B. Capitalization and Indebtedness</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">8</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_5">C. Reasons for the Offer and Use of Proceeds</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_6">D. Risk Factors</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_7">ITEM 4. INFORMATION ON THE COMPANY</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_8">A. History and Development of the Company</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_001"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Business Overview</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_002"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Organizational Structure</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">93</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_003"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. Property, Plants and Equipment</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">96</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_004"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 4A. UNRESOLVED STAFF COMMENTS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_005"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_006"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Operating Results</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_007"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Liquidity and Capital Resources</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">108</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_008"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Research and Development, Patents and Licenses, etc.</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">112</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_009"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. Trend Information</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>112</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_010"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E. Critical Accounting Estimates</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">113</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_011"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">115</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_012"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Directors and Senior Management</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">115</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_049"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Compensation</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">117</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_050"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Board Practices</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">117</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_013"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. Employees</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">119</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_014"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E. Share Ownership</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">120</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_015"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">120</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_016"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Major Shareholders</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">120</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_017"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Related Party Transactions</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">121</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_018"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Interests of Experts and Counsel</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">123</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_019"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 8. FINANCIAL INFORMATION</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">123</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_020"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Consolidated Statements and Other Financial Information</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">123</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_021"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Significant Changes</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">123</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_022"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 10. ADDITIONAL INFORMATION</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">124</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_023"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Share Capital</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">124</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_024"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B. Memorandum and Articles of Association</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">124</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_025"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Material Contracts</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">124</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_026"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">D. Exchange Controls</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">127</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_027"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E. Taxation</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">128</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_028"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F. Dividends and Paying Agents</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">130</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_029"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">G. Statement by Experts</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">130</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_030"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">H. Documents on Display</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_051"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I. Subsidiary Information</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131</span></td></tr>
</table>

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


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_031"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_032"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_033"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">132</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_034"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">132</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_035"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 15. CONTROLS AND PROCEDURES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">132</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_052"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A. Disclosure Controls and Procedures</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">132</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_053"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
Management&#8217;s Annual Report on Internal Control over Financial Reporting </span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">132</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_054"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C. Changes in Internal Control Over Financial Reporting</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">133</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_036"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16. RESERVED</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">133</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_037"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">133</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_038"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16B. CODE OF ETHICS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">134</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_039"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">134</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_040"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">134</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_041"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_042"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16F. CHANGE IN REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_043"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16G. CORPORATE GOVERNANCE</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_044"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16H. MINE SAFETY DISCLOSURE</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_045"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">135</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_046"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 17. FINANCIAL STATEMENTS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">136</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_047"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 18. FINANCIAL STATEMENTS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">136</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#Z_048"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ITEM 19. EXHIBITS</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">136</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Annual Report contains forward-looking statements regarding our current expectations or forecasts of future events. All statements other
than statements of historical facts contained in this Annual Report, including statements regarding our future results of operations
and financial position, business strategy, the GeniusU Platform, technology development plans, research and development costs, timing
and likelihood of success, as well as plans and objectives of management for future operations are forward-looking statements. Many of
the forward-looking statements contained in this Annual Report can be identified by the use of forward-looking words such as &#8220;anticipate,&#8221;
&#8220;believe,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;should,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221;
&#8220;will&#8221; and &#8220;potential,&#8221; among others.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forward-looking
statements appear in a number of places in this Annual Report and include, but are not limited to, statements regarding our intent, belief
or current expectations. Forward-looking statements are based on our management&#8217;s beliefs and assumptions and on information currently
available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those
expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified under
&#8220;<i>Item 3. Key Information&#8212;D. Risk Factors</i>.&#8221; These forward-looking statements include:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to compete in the highly competitive markets in which we operate, and potential adverse
                                            effects of this competition;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to maintain revenues if our products and services do not achieve and maintain broad
                                            market acceptance, or if we are unable to keep pace with or adapt to rapidly changing technology,
                                            evolving industry standards and changing regulatory requirements;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">uncertainty,
                                            downturns and changes in the markets we serve;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            expectations regarding the size of the global education market, Edtech market and the various
                                            geographic and demographic markets that our group of companies serve;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            competitiveness in the marketplace in relation to existing and new competitors in the marketplace;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            commercialization strategy, including our plans to acquire education companies, to combine
                                            them in a global curriculum and Edtech platform, and to digitize and distribute our courses
                                            globally;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            belief that we will be able to drive commercialization of our GeniusU Edtech platform through
                                            the growth of our A.I., and technology development;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to effectively integrate our Pre-IPO Companies, Acquisitions in order to expand their
                                            product range and improve their financial performance;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            willingness of our Partners, mentors and Students to adopt GeniusU as their Edtech platform
                                            of choice;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to effectively manage our anticipated growth;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            timing, scope or likelihood of regulatory submissions, filings, approvals, authorizations
                                            or clearances;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to repay or service our debt obligations and meet the financial covenants related
                                            to such debt obligations;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to enforce our intellectual property rights and to operate our business without infringing,
                                            misappropriating, or otherwise violating the intellectual property rights and proprietary
                                            technology of third parties;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to develop and maintain effective internal controls over financial reporting;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to attract, motivate and retain qualified employees, including members of our senior
                                            management team;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            expectations regarding the time during which we will be an emerging growth company under
                                            the Jumpstart Our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;) and a foreign
                                            private issuer;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            future trading price of common shares and impact of securities analysts&#8217; reports on
                                            these prices;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
                                            ability to fully derive anticipated benefits from existing or future acquisitions, joint
                                            ventures, investments or dispositions;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exchange
                                            rate fluctuations and volatility in global currency markets;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">potential
                                            adverse tax consequences resulting from the international scope of our operations, corporate
                                            structure and financing structure; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">increased
                                            risks resulting from our international operations.</span></td></tr></table>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
forward-looking statements speak only as of the date of this Annual Report and are subject to a number of risks, uncertainties and assumptions
described under the sections of this Annual Report titled <i>&#8220;Item 3. Key Information&#8212;D. Risk Factors&#8221;</i> and <i>&#8220;Item
5. Operating and Financial Review and Prospects&#8221;</i> and elsewhere in this Annual Report. Because forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control,
you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our
forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking
statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it
is not possible for management to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to
publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events,
changed circumstances or otherwise.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, statements that &#8220;we believe&#8221; and similar statements reflect our beliefs and opinions on the relevant subject. These
statements are based upon information available to us as of the date of this Annual Report, and while we believe such information forms
a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate
that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are
inherently uncertain and investors are cautioned not to unduly rely upon these statements.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUMMARY
OF RISK FACTORS</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is a summary of certain, but not all, of the risks that could adversely affect our business, operations and financial results.
If any of the risks actually occur, our business could be materially impaired, the trading price of our common shares could decline,
and you could lose all or part of your investment.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Our Business and Industry (All Group companies)</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are a global business subject to complex economic, legal, political, tax, foreign currency
                                            and other risks associated with international operations, which risks may be difficult to
                                            adequately address.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            growth strategy anticipates that we will create new products, services, and distribution
                                            channels and expand existing distribution channels. If we are unable to effectively manage
                                            these initiatives, our business, financial condition, results of operations and cash flows
                                            would be adversely affected.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            growth may have a negative effect on the successful expansion of our business, on our people
                                            management, and on the increase in complexity of our software and platforms.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            our growth rate decelerates significantly, our prospects and financial results would be adversely
                                            affected, preventing us from achieving profitability.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may be unable to recruit, train and/or retain qualified teachers, mentors, and other skilled
                                            professionals.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            business may be materially adversely affected if we are not able to maintain or improve the
                                            content of our existing courses or to develop new courses on a timely basis and in a cost-effective
                                            manner.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Failure
                                            to attract and retain students to enroll in our courses and programs, and to maintain tuition
                                            levels, may have a material adverse impact on our business and prospects.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            student performance falls or parent and student satisfaction declines, a significant number
                                            of students may not remain enrolled in our programs, and our business, financial condition
                                            and results of operations will be adversely affected.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            curriculum and approach to instruction may not achieve widespread acceptance, which would
                                            limit our growth and profitability.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            continued development of our brand identity is important to our business. If we are not able
                                            to maintain and enhance our brand, our business and operating results may suffer.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            our partnerships are unable to maintain educational quality, we may be adversely affected.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
                                            is significant competition in the market segments that we serve, and we expect such competition
                                            to increase; we may not be able to compete effectively.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            COVID-19 pandemic has significantly negatively impacted segments of our business and may
                                            continue to do so.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            business and operations may be adversely affected by economic uncertainty and volatility
                                            in the financial markets, including as a result of the military conflict in Ukraine.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            business may be materially adversely affected by a general economic slowdown or recession.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may be sued for infringement of the intellectual property rights of others and such actions
                                            would be costly to defend, could require us to pay damages and could limit our ability or
                                            increase our costs to use certain technologies in the future.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            cannot assure you that we will not be subject to liability claims for any inaccurate or inappropriate
                                            content in our training programs, which could cause us to incur legal costs and damage our
                                            reputation.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may be subject to legal liability resulting from the actions of third parties, including
                                            independent contractors and teachers, which could cause us to incur substantial costs and
                                            damage our reputation.</span></td></tr>
<tr style="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
  may not have sufficient insurance to protect ourselves against substantial losses.</span></td></tr>

<tr style="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
  cybersecurity attack or other security breach or incident could delay or interrupt service to our users and customers, harm our reputation
  or subject us to significant liability.</span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are a growing company with a limited operating history. If we fail to achieve further marketplace
                                            acceptance for our products and services, our business, financial condition and results of
                                            operations will be adversely affected.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            Edtech platform is technologically complex, and potential defects in our platforms or in
                                            updates to our platforms could be difficult or even impossible to fix.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">System
                                            disruptions, capacity constraints and vulnerability from security risks to our online computer
                                            networks could impact our ability to generate revenues and damage our reputation, limiting
                                            our ability to attract and retain students.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            current success and future growth depend on the continued acceptance of the Internet and
                                            the corresponding growth in users seeking educational services on the Internet.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are susceptible to the illegal or improper use of our content, Edtech and platform (whether
                                            from students, teachers, mentors, management personnel and other employees, or third parties),
                                            or other forms of misconduct, which could expose us to liability and damage our business
                                            and brand.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may be unable to manage and adapt to changes in technology.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            must monitor and protect our Internet domain names to preserve their value.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            long-term success of our campuses is highly dependent on our ability to effectively identify
                                            and secure appropriate sites for new resorts and cafes.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increases
                                            in labor costs, labor shortages, and any difficulties in attracting, motivating, and retaining
                                            well- qualified employees within the hospitality industry could have an adverse effect on
                                            our business, financial condition, and results of operations for our resorts and cafes.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            have acquired the acquisitions and may pursue other strategic acquisitions or investments.
                                            The failure of an acquisition or investment (including but not limited to the Acquisitions)
                                            to be completed or to produce the anticipated results, or the inability to fully integrate
                                            an acquired company, could harm our business.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            continued success of our Acquisitions depends initially on the value of the local brands
                                            of each of the companies and how we integrate those brands with Genius Group and GeniusU,
                                            which may be materially adversely affected by changes in current and prospective students&#8217;
                                            perceptions post-acquisition.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
                                            the certified education courses offered by our Acquisitions could be difficult for us.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            Acquisitions are subject to uncertain and varying laws and regulations, and any changes to
                                            these laws or regulations may materially adversely affect our business, financial condition
                                            and results of operations.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulatory
                                            changes that affect the timing of government-sponsored student aid payments or receipt of
                                            government-sponsored financial aid could materially adversely affect our liquidity.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            changing public perception and changes to government policies with respect to private schools
                                            may have a materially adverse impact on our Acquisitions and our overall plans to expand
                                            in the early learning, primary school, secondary school and university markets.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            poor performance or reputation of other early learning schools or the industry as a whole
                                            could tarnish the reputation of our Acquisition, Education Angels, which could have a negative
                                            impact on its business.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in the demand for childcare and workplace solutions, which may be negatively affected by
                                            demographic trends and economic conditions, including unemployment rates, may affect Education
                                            Angels.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            expansion of Education Angels, into certain markets including the United States may be negatively
                                            impacted by increased competition based on changes in government regulation and benefit programs.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            Acquisition, E-Square, may be negatively affected by the economic and political conditions
                                            in South Africa.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
                                            perception and regulatory changes in the primary school and secondary school systems in countries
                                            that E-Square may expand to may have a materially adverse impact on the company.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            growth plans for E-Square and our plans to expand into the primary school and high school
                                            markets will be a complex and lengthy process where future success is not assured.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            we cannot maintain student enrollments and maintain tuition levels in our Acquisition, UAV,
                                            the university&#8217;s results of operations may be materially adversely affected.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            reputation of UAV may be negatively influenced by the actions of other for-profit and private
                                            universities.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            university and vocational college market is very competitive, and we may not be able to achieve
                                            our growth plans with UAV.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            the graduates of UAV are unable to obtain professional licenses or certifications required
                                            for employment in their chosen fields of study, the university&#8217;s reputation may suffer
                                            and we may face declining enrollments and revenues or be subject to student litigation.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            the graduates of UAV do not meet possible future standards of &#8220;gainful employment,&#8221;
                                            this may negatively affect the university&#8217;s reputation and access to government funding.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
                                            the online academic programs of UAV on the GeniusU Edtech platform could be difficult for
                                            us.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            for-profit universities and colleges, which offer online education alternatives different
                                            from ours, perform poorly, it could tarnish the reputation of online education as a whole,
                                            which could impair UAV&#8217;s ability to grow its business.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            growth plans for UAV and our plans to expand into the university and vocational college market
                                            in the United States and globally is a complex and lengthy process, exposing us to risks
                                            inherent in international growth.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            course content of our Acquisition, PIN, requires ongoing updating based on the current government
                                            regulations and market conditions of the property market.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            wide range of differences between the property markets in different countries may make it
                                            challenging for PIN to achieve its global expansion plan.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            reputation of PIN may be negatively influenced by the actions of other property investing
                                            training companies and courses.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            demand for digital documentaries in our acquisition, RF, may decline post Covid, which may
                                            impact our ability to attract the same level of audience and in turn the same level of revenue
                                            as during Covid.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            increasing competition within both the online streaming market and online documentaries may
                                            make it challenging to achieve profitable growth for RF.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            documentaries produced by RF rely on the topics remaining popular for a period of time. A
                                            shift in the popularity of the topics covered may have an adverse effect on the sales of
                                            RF&#8217;s documentaries both at the time of launch and subsequently at the time of relaunch.</span></td></tr></table>

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


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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Investing in a Foreign Private Issuer or a Singapore Company</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
                                            a foreign private issuer, we are permitted to follow certain home country corporate governance
                                            practices in lieu of certain requirements under the NYSE American listing standards. This
                                            may afford less protection to holders of our ordinary shares than U.S. regulations.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are a foreign private issuer and, as a result, we are not subject to U.S. proxy rules and
                                            are instead subject to the Securities Exchange Act of 1934, as amended (the &#8220;Exchange
                                            Act&#8221;) reporting obligations that, to some extent, are more lenient and less detailed
                                            than those for a U.S. issuer.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may lose our foreign private issuer status, which would then require us to comply with the
                                            Exchange Act&#8217;s domestic reporting regime and cause us to incur additional legal, accounting
                                            and other expenses.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are a Singapore incorporated company, and it may be difficult to enforce a judgment of U.S.
                                            courts for civil liabilities under U.S. federal securities laws against us, our directors
                                            or officers in Singapore.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are incorporated in Singapore, and our shareholders may have more difficulty in protecting
                                            their interests than they would as shareholders of a corporation incorporated in the United
                                            States.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are subject to the laws of Singapore, which differ in certain material respects from the
                                            laws of the United States.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
                                            take-over laws contain provisions that may vary from those in other jurisdictions.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
                                            to the general authority to allot and issue new ordinary shares provided by our shareholders,
                                            the Singapore Companies Act and our constitution, our directors may allot and issue new ordinary
                                            shares on terms and conditions and for such purposes as may be determined by our Board of
                                            Directors (&#8220;Board&#8221;) in its sole discretion.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may be or become a passive foreign investment company, which could result in adverse U.S.
                                            federal income tax consequences to U.S. Holders.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
                                            taxes may differ from the tax laws of other jurisdictions.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
                                            authorities could challenge the allocation of income and deductions among our subsidiaries,
                                            which could increase our overall tax liability.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Ownership of Ordinary Shares</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            requirement that we repay the Convertible Note and interest thereon in cash under certain
                                            circumstances, and the restrictive covenants contained in the Convertible Note, could adversely
                                            affect our business plan, liquidity, financial condition, and results of operations.</span></td></tr>
<tr style="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
  <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
  may subject to default under our convertible note agreements that might limit our flexibility in managing the day to day operations</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            assets and the assets of certain of our subsidiaries have been pledged as security for our
                                            obligations under the Convertible Note, and our default with respect to those obligations
                                            could result in the transfer of our assets to our creditor. Such a transfer could have a
                                            material adverse effect on our business, capital, financial condition, results of operations,
                                            cash flows and prospects.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
                                            the future, our ability to raise additional capital to expand our operations and invest in
                                            our business may be limited, and our failure to raise additional capital, if required, could
                                            impair our business.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            share price may be volatile, and the market price of our ordinary shares may drop.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            have broad discretion over the use of proceeds we received in our IPO and may not apply the
                                            proceeds in ways that increase the value of our ordinary shares.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
                                            significant portion of our total outstanding shares may be sold into the public market in
                                            the near future, which could cause the market price of our ordinary shares to drop significantly,
                                            even if our business is doing well.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            securities or industry analysts do not publish or cease publishing research or reports about
                                            us, our business, or our market, or if they change their recommendations regarding our ordinary
                                            shares adversely, our share price and/or trading volume could decline.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            may not pay dividends on our ordinary shares in the future and, consequently, the investors&#8217;
                                            ability to achieve a return on their investment will depend on appreciation in the price
                                            of our ordinary shares.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            currently report our financial results under IFRS, which differs in certain significant respects
                                            from U.S. GAAP.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are an emerging growth company within the meaning of the Securities Act of 1933, as amended
                                            (the &#8220;Securities Act&#8221;), and if we take advantage of certain exemptions from disclosure
                                            requirements available to emerging growth companies, this could make our securities less
                                            attractive to investors and may make it more difficult to compare our performance with other
                                            public companies.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            incur significantly increased costs and devote substantial management time as a result of
                                            operating as a public company.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            we fail to maintain an effective system of internal control over financial reporting in the
                                            future, we may not be able to accurately report our financial condition, results of operations
                                            or cash flows, which may adversely affect investor confidence.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            we are not able to comply with the applicable continued listing requirements or standards
                                            of the NYSE American and Upstream, the NYSE American and/or Upstream could delist our ordinary
                                            shares.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            are dual listed on NYSE American and Upstream and there may sometimes be share price differences
                                            between the two exchanges</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
                                            investors are currently permitted to trade (buy, sell or deposit) Upstream listed securities, via intermediate US broker (Boustead security) .</span></td></tr></table>

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


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    <!-- Field: /Page -->

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

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="a_1"></span>Item
1. Identity of Directors, Senior Management and Advisers</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="a_2"></span>Item
2. Offer Statistics and Expected Timetable</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span id="a_3"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
3. Key Information</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="a_9"></span>A.
Selected financial data</i></b></span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following tables set forth summarizes combined pro forma financial data and audited summary consolidated financial data for the periods
and as of the dates indicated. The summary combined unaudited pro forma financial data below includes the consolidated financials of
all companies in the Genius Group, including the Pre-IPO Group and the Acquisitions as if they were operating as one group in the periods
indicated. The pro forma financials for 2022 include the audited financial data of the Pre-IPO Group and Acquisitions from the audited
financials and the unaudited financial data of the Acquisitions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
summary income data for the years ended December 31, 2022 and 2021 and the summary balance sheet data as of December 31, 2022 and 2021
for the Group are derived from the audited consolidated financial statements included in this Annual Report. Our audited consolidated
financial statements have been prepared in U.S. dollars and in accordance with IFRS, as issued by the IASB. In addition, Audited financials are provided for the financial period ended September 30, 2022 for Revealed Films,
as it was a significant acquisition in October 2022.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group is made up of nine companies (taking into account the Acquisitions) that have varying financial performance. For this reason, you
should read the summary combined pro forma financial data in conjunction with our audited consolidated financial statements and related
notes beginning on page F-1 of this Annual Report, and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results
of Operations&#8221; included elsewhere in this Annual Report. Our historical results do not necessarily indicate our expected results
for any future periods.</span></p>

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

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Genius Group</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(9,555</td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(50,502</td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(15,151</td><td style="text-align: left">)</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>December 31,</b></span></td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-IFRS
Financial Measures &#8212; Adjusted EBITDA</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have included Adjusted EBITDA in this Annual Report because it is a key measure used by our management and board of directors to understand
and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term
operational plans. In particular, the exclusion of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period
comparisons of our core business. Non-IFRS financial measures are not a substitute for IFRS financial measures.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
calculate Adjusted EBITDA as Net loss for the period plus income taxes plus/ minus net finance result plus depreciation and amortization
plus/minus share-based compensation expenses plus bad debt provision. Share-based compensation expenses and bad debt provision are included
in General and administrative expenses in the Consolidated Statements of Operations.</span></p>

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

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: white">
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    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">2,453</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">2,351</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">1,575</span></td>
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    <td><span style="font-size: 10pt">Impairment</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">28,246</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">28,246</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">&#8212;</span></td>
    <td>&#160;</td></tr>
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    <td><span style="font-size: 10pt">Revaluation Adjustment of Contingent Liabilities</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">13,838</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">13,838</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td><span style="font-size: 10pt">Stock Based Compensation</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">1,309</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">1,309</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">294</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td><span style="font-size: 10pt">Bad Debt Provision</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">1,529</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">1,509</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt">(39</span></td>
    <td><span style="font-size: 10pt">)</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td><span style="font-size: 10pt"><b>Adjusted EBITDA</b></span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right"><span style="font-size: 10pt"><b>(7,267</b></span></td>
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    <td>&#160;</td>
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    <td style="text-align: right"><span style="font-size: 10pt"><b>(7,750</b></span></td>
    <td><span style="font-size: 10pt"><b>)</b></span></td>
    <td>&#160;</td>
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    <td style="text-align: right"><span style="font-size: 10pt"><b>(2,338</b></span></td>
    <td><span style="font-size: 10pt"><b>)</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>


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

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


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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
segment &#8212; Genius Group (including Acquisitions)</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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                                            Business Metrics &#8211; </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Education
                                            Segment</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
                                            the year ended December 31,</b></span></p></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,450,852</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Number
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">191</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">191</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Marketing
    Spend</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,994,331</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,139,928</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Education
    Revenue</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,469,609</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,468,253</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Revenue
    from New Paying Students</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,164,848</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,377,236</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">New
    Students</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,640,698</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">890,328</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">New
    Paying Students</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">19,681</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">10,425</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Conversion
    rate</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.20</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1.17</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Average
    Acquisition Cost per New Paying Student</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">101</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">109</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Average
    Annual Revenue per New Paying Student</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">516</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">707</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net
    Income (Loss) margin</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(172.07</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4.56</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Adjusted
    EBITDA margin</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11.76</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4.10</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  </table>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus
segment&#8201;&#8211;&#8201;Entrepreneur Resorts</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 70%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Key
                                            Business Metrics &#8211;</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Campus
                                            Segment</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
                                            the year ended December 31,</b></span></p></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Revenue</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,638,122</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,100,750</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">No
    of Locations</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">No
    of Seats/Rooms</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">367</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">367</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Utilization</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">33</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Total
    Orders</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">136,204</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">96,390</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Revenue
    Per Order</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">34</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="a_4"></span>B.
Capitalization and indebtedness</i></b></span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_5"></span><i>C.
Reasons for the offer and use of proceeds</i></b></span></p>

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

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

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span id="a_6"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>D.
Risk Factors</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our ordinary shares is highly speculative and involves a significant degree of risk. You should carefully consider the following risks,
as well as other information contained in this Annual Report, before making an investment in our Company. The risks discussed below could
materially and adversely affect our business, prospects, financial condition, results of operations, cash flows, ability to pay dividends
and the trading price of our ordinary shares. Additional risks and uncertainties not currently known to us or that we currently deem
to be immaterial may also materially and adversely affect our business, prospects, financial condition, results of operations, cash flows
and ability to pay dividends, and you may lose all or part of your investment.</span></p>

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

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0"><b>Going Concern</b></p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to IAS 1, Presentation of Financial Statements, the
Company is required to and does evaluate at each annual and interim period whether there are conditions or events, considered in the aggregate,
that raise substantial doubt about its ability to continue as a going concern within one year after the date that the consolidated financial
statements are issued. Based on the definitions in the relevant accounting standards, and due
to recent changes in the Company&#8217;s 2022 convertible loan terms in which company elected to pay all future payments in cash, negative
cash flows, and continued net losses, management has determined that without additional capital raised, in the next twelve months, there
is substantial doubt about the Company&#8217;s ability to continue as a going concern.</p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s consolidated financial statements as of
December 31, 2022 have been prepared on a going concern basis. Although the Company has taken, and plans to continue to take, proactive
measures to enhance its liquidity position and provide additional financial flexibility, including discussions with lenders and bankers,
there can be no assurance that these measures, including the timing and terms thereof, will be successful or sufficient.</p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The substantial doubt about the Company&#8217;s ability to continue
as a going concern may negatively affect the price of the Company&#8217;s common stock, may impact relationships with third parties with whom
the Company does business, including customers, vendors and lenders, may impact the Company&#8217;s ability to raise additional capital or implement
its business plan.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Our Business and Industry (All Group Companies)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are a global business subject to complex economic, legal, political, tax, foreign currency and other risks associated with international
operations, which risks may be difficult to adequately address.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2021 and 2022, over 90% of our revenues from the Pre-IPO Group were generated from operations outside of the United States. When including
the Acquisitions, over 50% of our pro forma revenues for Genius Group for these same periods were generated from operations outside of
the United States. Our GeniusU Edtech platform has students in 191 countries, each of which is subject to complex business, economic,
legal, political, tax and foreign currency risks. As we continue to expand our international operations with our Acquisitions, we may
have difficulty managing and administering a globally dispersed business and we may need to expend additional funds to, among other things,
staff key management positions, obtain additional information technology infrastructure and successfully implement relevant course and
program offerings for a significant number of international markets, which may materially adversely affect our business, financial condition
and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
challenges associated with the conduct of our business overseas that may materially adversely affect our operating results include:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            large scale and diversity of our operational institutions present numerous challenges, including
                                            difficulty in staffing and managing foreign operations as a result of distance, language,
                                            legal, labor relations and other differences;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
                                            of our programs and services are subject to unique business risks and challenges including
                                            competitive pressures and diverse pricing environments at the local level;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty
                                            maintaining quality standards consistent with our brands and with local accreditation requirements;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fluctuations
                                            in exchange rates, possible currency devaluations and currency controls, inflation and hyperinflation;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty
                                            selecting and monitoring partners in different jurisdictions;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">compliance
                                            with a wide variety of domestic and foreign laws and regulations;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">expropriation
                                            of assets by governments;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">political
                                            elections and changes in government policies;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
                                            in tax laws, assessments or enforcement by taxing authorities in different jurisdictions;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">difficulty
                                            protecting our intellectual property rights overseas due to, among other reasons, the uncertainty
                                            of laws and enforcement in certain countries relating to the protection of intellectual property
                                            rights;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">lower
                                            levels of availability or use of the Internet, through which our online programs are delivered;</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limitations
                                            on the repatriation and investment of funds, foreign currency exchange restrictions and inability
                                            to transfer cash back to the United States without taxation;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">potential
                                            economic and political instability the countries in which we operate, including student unrest;
                                            or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">business
                                            interruptions from acts of terrorism, civil disorder, labor stoppages, public health risks,
                                            crime and natural disasters, particularly in areas in which we have significant operations.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success in growing our business profitably will depend, in part, on the ability to anticipate and effectively manage these and other
risks related to operating in various countries. Any failure by us to effectively manage the challenges associated with the maintenance
or expansion of our international operations could materially adversely affect our business, financial condition and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
growth strategy anticipates that we will create new products, services, and distribution channels and expand existing distribution channels.
If we are unable to effectively manage these initiatives, our business, financial condition, results of operations and cash flows would
be adversely affected.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
we create new products, services, and distribution channels and expand our existing distribution channels, we expect to face challenges
distinct from those we currently encounter, including:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            challenge of tailoring new products and services to new technologies as they develop, including
                                            artificial intelligence, augmented reality and virtual reality;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
                                            local competition as we localize our products and services to different countries, cultures
                                            and languages, each with new, local distribution channels;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changing
                                            student habits as new distribution channels for learning content are developed globally;
                                            and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unpredictable
                                            market behavior as the education market develops new distribution channels for learning outside
                                            the traditional school system, including via online courses and virtual learning.</span></td></tr></table>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
failure to manage these new distribution channels, or any new distribution channels we pursue, may have an adverse effect on our business,
financial condition, results of operations and cash flows.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
growth may have a negative effect on the successful expansion of our business, on our people management, and on the increase in complexity
of our software and platforms.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are currently experiencing a period of significant expansion and are facing a number of expansion related issues, such as the acquisition
and retention of experienced and talented personnel, cash flow management, corporate culture and internal controls, among others. These
issues and the significant amount of time spent on addressing them may result in the diversion of our management&#8217;s attention from
other business issues and opportunities.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
anticipate that these expansion related issues will increase with our Acquisitions and future growth. In addition, we believe that our
corporate culture and values are critical to our success, and we have invested a significant amount of time and resources building them.
If we fail to preserve our corporate culture and values, our ability to recruit, retain and develop personnel and to effectively implement
our strategic plans may be harmed.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
must constantly update our software and platforms, enhance and improve our billing and transaction and other business systems, and add
and train new software designers and engineers, as well as other personnel to help us with the increased use of our platforms and the
new solutions and features we regularly introduce.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
process is time intensive and expensive and may lead to higher costs in the future. Furthermore, we may need to enter into relationships
with various strategic partners, such as online service providers and other third parties necessary to our business. The increased complexity
of managing multiple commercial relationships could lead to execution problems that can affect current and future revenue, and operating
margins.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
cannot assure you that our current and planned platforms, systems, products, procedures and controls, personnel and third-party relationships
will be adequate to support our future operations. In addition, our current expansion has placed a significant strain on management and
on our operational and financial resources, and this strain is expected to continue. Our failure to manage growth effectively could harm
our business, results of operations and financial condition.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
our growth rate decelerates significantly, our prospects and financial results would be adversely affected, preventing us from achieving
profitability.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that our growth depends on a number of factors, including, but not limited to, our ability to:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integrate
                                            the Acquisitions into the Group;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Continue
                                            to introduce our products and services to new markets;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide
                                            high-quality support to students and partnerships using our products and services;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
                                            our business and increase our market share;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compete
                                            with the products, services, offers, prices and incentives offered by our competitors;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Develop
                                            new products, services, offerings and technologies;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify
                                            and acquire or invest in businesses, products, offerings or technologies that we believe
                                            may be able to complement or expand our platform; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase
                                            the positive perception of our brands.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not be successful in achieving the above objectives. Any slowdown in the demand from students, teachers, mentors, and partnerships
for our products and services caused by changes in customer preferences, failure to maintain our brands, inability to expand our portfolio
of products or services, changes in the global economy, taxes, competition or other factors may lead to a decrease in revenue or growth
and our financial results and future prospects could be negatively affected. We expect that we will continue to incur significant expenses
as a result of our efforts to continue growing, and if we cannot increase our revenue at a faster rate than the increase in our expenses,
we will not be able to achieve profitability.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may be unable to recruit, train and/or retain qualified teachers, mentors, and other skilled professionals.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
teachers and mentors are critical to maintaining the quality of our learning system and curriculum and assisting students with their
lessons. The educational content and materials we provide are a combination of content developed in-house, by our teachers, and our mentors.
Teachers and mentors must have strong interpersonal communications skills to be able to effectively instruct students, especially in
virtual settings. They must also possess the technical skills to use our technology-based learning systems and be willing to publish
their content on our platform.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
requirement for teachers at all levels has increased with the Acquisitions completed. There is a limited pool of qualified individuals
with these specialized attributes. We must also provide continuous training to teachers and mentors so that they can stay abreast of
changes in student demands, academic standards and other key trends necessary to teach online effectively. We may not be able to recruit,
train and retain enough qualified teachers and mentors to keep pace with our growth while maintaining consistent teaching quality and
robust platform content.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shortages
of qualified teachers or mentors, or decreases in the quality of our instruction or the amount and quality of educational content we
can produce and offer as a result, whether actual or perceived, would have an adverse effect on our business.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success also depends in large part on our senior management and key personnel as well as in general upon highly trained finance, technical,
recruiting and marketing professionals in order to operate our business, increase revenues from our existing products and services and
to launch new product offerings. If any of these employees leave us and we fail to effectively manage a transition to new personnel,
or if there is a shortage in the number of people with the requisite skills or we fail to attract and retain qualified and experienced
professionals on acceptable terms, our business, financial conditions and results of operations could be adversely affected.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
business may be materially adversely affected if we are not able to maintain or improve the content of our existing courses or to develop
new courses on a timely basis and in a cost-effective manner.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
continually seek to maintain and improve the content of our existing courses and develop new courses in order to meet changing market
needs. Revisions to our existing courses and the development of new courses may not be accepted by existing or prospective students in
all instances. If we cannot respond effectively to market changes, our business may be materially adversely affected. Even if we are
able to develop acceptable new courses, we may not be able to introduce these new courses as quickly as students require or as quickly
as our competitors are able to introduce competing courses. If we do not respond adequately to changes in market requirements, our ability
to attract and retain students could be impaired and our financial results could suffer. This applies to most of our Pre-IPO Group companies
and Acquisitions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establishing
new courses or modifying existing courses also may require us to make investments in specialized personnel and capital expenditures,
increase marketing efforts and reallocate resources away from other uses. We may have limited experience with the subject matter of new
courses and may need to modify our systems and strategy. If we are unable to increase the number of students, offer new courses in a
cost-effective manner or otherwise manage effectively the operations of newly established courses, our business, financial condition
and results of operations could be materially adversely affected.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Failure
to attract and retain students to enroll in our courses and programs, and to maintain tuition levels, may have a material adverse impact
on our business and prospects</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
success of our business depends primarily on the number of student enrollments in the courses and programs we offer on our platform microschools,
and events, and the amount of our course and program fees. As a result, our ability to attract students to enroll in our courses and
programs is critical to the continued success and growth of our business. This, in turn, will depend on several factors, including, among
others, our ability to develop new educational programs and enhance existing educational programs to respond to the changes in market
trends, student demands and government policies, to maintain our consistent and high teaching quality, to market our programs successfully
to a broader prospective student base, to develop additional high-quality educational content, sites and availability of our platform
and to respond effectively to competitive market pressures.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
our students or their parents perceive that our education quality deteriorated due to unsatisfying learning experiences, which may be
subject to a number of subjective judgments that we have limited influence over, our overall market reputation may diminish, which in
turn may affect our word-of-mouth referrals and ultimately our student enrollment. In addition, the expansion of our offering of courses
and services may not succeed due to competition, our failure to effectively market our new courses and services (whether due to defects
in our marketing tools and/or failure to adjust our strategy in order to meet the needs of current and potential customers), maintain
the quality of our courses and services, or other factors. We may be unable to develop and offer additional educational content on commercially
reasonable terms and in a timely manner, or at all, to keep pace with changes in market trends and student demands. If we are unable
to control the rate of student attrition, which can be affected by various factors outside our control such as students&#8217; personal
circumstances and local socioeconomic factors, our overall enrollment levels are likely to decline or if we are unable to charge tuition
rates that are both competitive and cover our rising expenses, our business, financial condition, cash flows and results of operations
may be materially adversely affected.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
student performance falls or parent and student satisfaction declines, a significant number of students may not remain enrolled in our
programs, and our business, financial condition and results of operations will be adversely affected.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
success of our business depends on a family&#8217;s decision to have their child continue his or her education through our programs.
This decision is based on many factors, including student achievement and parent and student satisfaction. We expect that, as our enrollments
increase and the portion of students that have not used our learning system for multiple years increases, the average performance of
all students using our learning system may decrease, even if the individual performance of other students improves over time. Additionally,
parent and student satisfaction may decline as not all parents and students are able to devote the substantial time and energy necessary
to complete our curriculum. A student&#8217;s satisfaction may also suffer if his or her relationship with the virtual schoolteacher
does not meet expectations. If a student&#8217;s performance or satisfaction declines, students may decide not to remain enrolled in
one or more of our programs, financial condition and results of operations will be adversely affected.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
curriculum and approach to instruction may not achieve widespread acceptance, which would limit our growth and profitability.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
curriculum and approach to instruction are based on students learning how to &#8220;create a job&#8221; rather than &#8220;get a job.&#8221;
The goal of this approach is to make students entrepreneurs. This approach, however, is not accepted by all students, academics and educators,
who may favor more traditional and formalistic methods, along with more traditional course offerings and curriculums. Accordingly, some
students, academics and educators are opposed to the principles and methodologies associated with our approach to learning and have the
ability to negatively influence the market for our products and services.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
continued development of our brand identity is important to our business. If we are not able to maintain and enhance our brand, our business
and operating results may suffer.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expanding
brand awareness is critical to attracting and retaining students, teachers, and mentors, and for serving additional jurisdictions. We
believe that the quality of our curriculum and management services has contributed significantly to the success of our brand. As we continue
to increase enrollments and extend our geographic reach, maintaining quality and consistency across all of our services and products
may become more difficult to achieve, and any significant and well-publicized failure to maintain this quality and consistency will have
a detrimental effect on our brand. We cannot provide assurances that our new sales and marketing efforts will be successful in further
promoting our brand in a competitive and cost-effective manner. If we are unable to further enhance our brand recognition and increase
awareness of our products and services, or if we incur excessive sales and marketing expenses, our business and results of operations
could be adversely affected.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of our companies has worked hard to establish the value of its individual brand. Brand value may be severely damaged, even by isolated
incidents, particularly if the incidents receive considerable negative publicity. There has been a marked increase in use of social media
platforms, including weblogs (blogs), social media websites, and other forms of Internet-based communications that allow individuals
access to a broad audience of interested persons. We believe students and prospective teachers and mentors value readily available information
about our companies and programs and often act on such information without further investigation or authentication, and without regard
to its accuracy. Social media platforms and devices immediately publish the content their subscribers and participants post, often without
filters or checks on the accuracy of the content posted. Information concerning our Company and our programs may be posted on such platforms
and devices at any time. Information posted may be materially adverse to our interests, it may be inaccurate, and it may harm our performance
and prospects.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
risk of damage or dilution of brand identity potentially increases during acquisitions, and this risk has increased since we have completed
the Acquisitions and may increase further as we are in the process of integration and expansion.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
our partnerships are unable to maintain educational quality, we may be adversely affected.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
partnerships with institutions, such as universities, and other educational providers and their students are regularly assessed and classified
under the terms of applicable educational laws and regulations. If the partnerships or students receive lower scores from year to year
on any of their assessments, or if there is any drop in the acceptance rates of students into prestigious universities, we may be negatively
affected by perceptions of a decline in the educational quality of our content and Edtech platform, which could adversely affect our
reputation and, as a result, our operating results and financial condition.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>There
is significant competition in the market segments that we serve, and we expect such competition to increase; we may not be able to compete
effectively.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
markets around the world are competitive and dynamic. We face varying degrees of competition from several discrete education providers
because our learning system integrates many of the elements of the education development and delivery process, including curriculum development,
teacher training and support, lesson planning, testing and assessment, and school performance and compliance management. We compete most
directly with companies that provide online curriculum and support services. Additionally, we expect increased competition from for-profit
post-secondary and supplementary education providers that have begun to offer virtual high school curriculum and services. In certain
jurisdictions and states where we currently serve virtual public schools, we expect intense competition from existing providers and new
entrants. Our competitors may adopt similar curriculum delivery, school support and marketing approaches, with different pricing and
service packages that may have greater appeal in the market. Both public and private not-for-profit institutions with whom we currently
or may in the future compete may have instructional and support resources superior to those in the for-profit sector, and public institutions
can offer substantially lower tuition prices or other advantages that we cannot match. If we are unable to successfully compete for new
business, acquire more companies, or maintain current levels of academic achievement and community interest, our revenue growth and operating
margins may decline. Price competition from our current and future competitors could also result in reduced revenues, reduced margins
or the failure of our product and service offerings to achieve or maintain more widespread market acceptance.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may also face direct competition from publishers of traditional educational materials that are substantially larger than we are and have
significantly greater financial, technical and marketing resources. As a result, they may be able to devote more resources to develop
products and services that are superior to our platform and technologies. We may not have the resources necessary to acquire or compete
with technologies being developed by our competitors, which may render our online delivery format less competitive or obsolete.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
future success will depend in large part on our ability to maintain a competitive position with our curriculum and our technology, as
well as our ability to increase capital expenditures to sustain the competitive position of our product. We cannot assure you that we
will have the financial resources, technical expertise, marketing, distribution or support capabilities to compete effectively.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
business and operations may be adversely affected by economic uncertainty and volatility in the financial markets, including as a result
of the military conflict in Ukraine.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business and results of operations may be adversely affected by various factors that could cause economic uncertainty and volatility
in the financial markets, many of which are beyond our control. Our business could be impacted by, among other things, downturns in the
financial markets or in economic conditions, increases in oil prices, inflation, increases in interest rates, supply chain disruptions,
declines in consumer confidence and spending, and geopolitical instability, such as the military conflict in the Ukraine. We cannot at
this time fully predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which they may
negatively impact our business.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business may be materially adversely affected by a general economic slowdown or recession.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
countries around the world have recently experienced reduced economic activity, increased unemployment, and substantial uncertainty about
their financial services markets and, in some cases, economic recession. These events may reduce the demand for our programs among students,
which could materially adversely affect our business, financial condition, results of operations and cash flows. These adverse economic
developments also may result in a reduction in the number of jobs available to our graduates and lower salaries being offered in connection
with available employment which, in turn, may result in declines in our placement and retention rates. Any general economic slowdown
or recession that disproportionately impacts the countries in which our companies and programs operate could have a material adverse
effect on our business, financial condition, results of operations and cash flows.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may be sued for infringement of the intellectual property rights of others, and such actions would be costly to defend, could require
us to pay damages and could limit our ability or increase our costs to use certain technologies in the future.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Companies
in the Internet, technology, education, curriculum and media industries own large numbers of patents, copyrights, trademarks and trade
secrets and frequently enter into litigation based on allegations of infringement or other violations of intellectual property rights.
As we grow, the likelihood that we may be subject to such claims also increases. Regardless of the merits, intellectual property claims
are often time- consuming and expensive to litigate or settle. In addition, to the extent claims against us are successful, we may have
to pay substantial monetary damages or discontinue any of our products, services or practices that are found to be in violation of another
party&#8217;s rights. We also may have to seek a license and make royalty payments to continue offering our products and services or
following such practices, which may significantly increase our operating expenses.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
cannot assure you that we will not be subject to liability claims for any inaccurate or inappropriate content in our training programs,
which could cause us to incur legal costs and damage our reputation.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
develop the content for our training programs ourselves or through partnerships with third parties. We cannot assure you that there will
be no inaccurate or inappropriate materials included in our training programs or the materials we obtain from our third-party partners.
In addition, our mock examination questions designed internally based on our understanding of the relevant examination requirements may
be investigated by the regulatory authorities. Therefore, we may face civil, administrative or criminal liability if an individual or
corporate, governmental or other entity believes that the content of any of our training programs violate any laws, regulations or governmental
policies or infringes upon its legal rights. Even if such claim were not successful, defending it may cause us to incur substantial costs
including the time and attention of our management. Moreover, any accusation of inaccurate or inappropriate content could lead to significant
negative publicity, which could harm our reputation and future business prospects.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may be subject to legal liability resulting from the actions of third parties, including independent contractors and teachers, which
could cause us to incur substantial costs and damage our reputation.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be subject, directly or indirectly, to legal claims associated with the actions of our independent contractors, teachers, and mentors.
In the event of accidents or injuries or other harm to students, we could face claims alleging that we were negligent, provided inadequate
supervision or were otherwise liable for their injuries. Additionally, we could face claims alleging that our independent curriculum
contractors or teachers infringed the intellectual property rights of third parties. A liability claim against us or any of our independent
contractors, teachers, or mentors could adversely affect our reputation, enrollment and revenues. Even if unsuccessful, such a claim
could create unfavorable publicity, cause us to incur substantial expenses and divert the time and attention of management.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not have sufficient insurance to protect ourselves against substantial losses.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have insurance policies to provide coverage against certain potential risks, such as property damage and personal injury, as well as
director and officer insurance for our management team. However, we cannot guarantee that our insurance coverage will always be available
or will be sufficient to cover possible claims for these risks. In addition, there are certain types of risk that might not be covered
by our policies, such as war, acts of nature, <i>force majeure </i>or interruption of certain activities. Moreover, we might be obliged
to pay fines and other penalties in the event of delays in product delivery, and such penalties are not covered by our insurance policies.
Additionally, we may not be able to renew our current insurance policies under the same terms or at all. Risks not covered by our insurance
policies or the inability to renew policies on favorable terms or at all could adversely affect our business and financial condition.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Our Business and Industry (Specific to Pre-IPO Group)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are a growing company with a limited operating history, and a history of operational losses. If we fail to achieve further marketplace
acceptance for our products and services, our business, financial condition and results of operations will be adversely affected.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
began enrolling students on our Edtech platform in 2015. As a result, we have only a limited operating history upon which you can evaluate
our business and prospects. There can be no assurance that we will reduce our operational losses or achieve profitability as a group
in the near future, or that our products and services will achieve further marketplace acceptance. Our marketing efforts may not generate
a sufficient number of student enrollments to sustain our business plan; our capital and operating costs may exceed planned levels; and
we may be unable to develop and enhance our service offerings to meet the demands of our students and community to the extent that such
demands and preferences change. If we are not successful in managing our business and operations, our financial condition and results
of operations will be adversely affected.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
Edtech platform is technologically complex, and potential defects in our platforms or in updates to our platforms can be difficult or
even impossible to fix.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Edtech platform is a technically complex product, and, when first introduced to new communities or when upgraded through new versions,
may contain software or hardware defects that are difficult to detect and correct. The existence of defects and delays in correcting
them can have adverse effects, such as, cancellation of subscriptions, delays in the receipt of payment, poor functioning of our platforms
and their content, failure to acquire new students, teachers, or mentors, or misuse of our platforms by third parties.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
test new versions and upgrades to our Edtech platform, but we cannot ensure that all defects related to platform updates can be identified
before, or even after a new version of our platforms are made available. The correction of defects can be time-consuming, expensive and
difficult. Errors and security breaches of our products could expose us to product liability claims and damage our reputation, which
could have an adverse effect on our business, financial condition and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>System
disruptions, capacity constraints and vulnerability from security risks to our online computer networks could impact our ability to generate
revenues and damage our reputation, limiting our ability to attract and retain students.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
performance and reliability of our technology infrastructure is critical to our reputation and ability to attract and retain students,
teachers, mentors, and our community. Any sustained system error or failure, or a sudden and significant increase in bandwidth usage,
could limit access to our learning system, and therefore, damage our ability to generate revenues. Our computer networks may also be
vulnerable to unauthorized access, computer hackers, computer viruses and other malware, and other security problems.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,
we host our products and serve our students, teachers, and mentors from a third-party data center facility, the security, facilities
management and communications infrastructure of which we do not control. While we are developing a risk mitigation plan, such a plan
may not be able to prevent a significant interruption in the operation of this facility or the loss of school and operational data due
to a natural disaster, fire, power interruption, act of terrorism or other unanticipated catastrophic event, or arising from other financial,
technical or operational difficulties encountered by our third-party vendor. Any such significant interruption, including one caused
by our failure to successfully expand or upgrade our systems or manage our transition to utilizing the expansions or upgrades, could
reduce our ability to manage our network and technological infrastructure and provide uninterrupted service, or be the occasion of loss
or theft of important customer data, any of which could result in liability, business interruption, lost sales, enrollment terminations
and reputational harm to us.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
current success and future growth depend on the continued acceptance of the Internet and the corresponding growth in users seeking educational
services on the Internet.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business relies in part on the Internet for its success. A number of factors could inhibit the continued acceptance of the Internet,
or the commercial viability of the Internet&#8217;s material role in our business model, and adversely affect our profitability, including:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inadequate
                                            Internet infrastructure;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security
                                            and privacy concerns;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            unavailability of cost-effective Internet service and other technological factors; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in U.S. or foreign government regulation of Internet use, which may relate to issues such
                                            as online privacy, copyrights, trademarks and service marks, sales taxes, fair business practices,
                                            and requirements that online education institutions qualify to do business as foreign corporations
                                            or be licensed in one or more jurisdictions where they have no physical location or other
                                            presence.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Internet use decreases, if the number of Internet users seeking educational services on the Internet does not increase, or if we become
subject to material additional costs as a result of regulatory changes affecting online education businesses, our business may not grow
as planned.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are susceptible to the illegal or improper use of our content, Edtech and platform (whether from students, teachers, mentors, management
personnel and other employees, or third parties), or other forms of misconduct, which could expose us to liability and damage our business
and brand.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
content, Edtech and platform are susceptible to unauthorized use, software license violations, copyright violations and unauthorized
copying and distribution, theft, employee fraud and other similar infractions and violations. Because we do not have full control over
how even authorized users will use our online platforms to communicate, such platforms may be misused for improper, malicious, objectionable
or illegal purposes. Such occurrences (whether originating from students, teachers, mentors, management personnel and other employees,
or third parties) can harm our business and consequently negatively affect our operating results. We could be required to expend significant
additional resources to deter, police against and combat improper use of our content, Edtech and platform, and still may be unsuccessful
in preventing such occurrences or identifying those responsible for any such misuse. Any failure to adequately protect against any such
illegal or improper use of our content, Edtech and platform could expose us to liability or reputational harm and could have a material
adverse effect on our business, financial condition and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
brand image, reputation, business and results of operations may also be adversely affected by other forms of illegal or improper activities
of our management personnel and other employees, such as intentionally failing to comply with government regulations, engaging in deceptive
business and marketing practices, improper use of personal or sensitive information, or violations of anticorruption or similar laws.
The precautions we take to prevent and detect such activities may not be effective in preventing or mitigating them. Even where such
activities are unrelated to our business or the services provided by our management personnel or other employees to us, they may harm
our brands and reputation.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be unable to manage and adapt to changes in technology.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will need to respond to technological advances and emerging industry standards in a cost-effective and timely manner in order to remain
competitive. The need to respond to technological changes may require us to make substantial, unanticipated expenditures. There can be
no assurance that we will be able to respond successfully to technological change.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
must monitor and protect our Internet domain names to preserve their value.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
own a wide range of domain names including our Edtech platform, <i>www.geniusu.com </i>(information contained on, or available through,
such website does not constitute part of, and is not deemed incorporated by reference into, this Annual Report). Third parties may acquire
substantially similar domain names that decrease the value of our domain names and trademarks and other proprietary rights which may
hurt our business. The regulation of domain names in the United States and foreign countries is subject to change.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing
bodies could appoint additional domain name registrars or modify the requirements for holding domain names. Governing bodies could also
establish additional &#8220;top-level&#8221; domains, which are the portion of the Web address that appears to the right of the &#8220;dot,&#8221;
such as &#8220;com,&#8221; &#8220;gov,&#8221; or &#8220;org.&#8221; As a result, we may not maintain exclusive rights to all potentially
relevant domain names in the United States or in other countries in which we conduct business.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
long-term success of our campuses is highly dependent on our ability to effectively identify and secure appropriate sites for new resorts
and cafes.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">One
of our challenges in the growth of our Entrepreneur Resorts locations is locating and securing an adequate supply of suitable new resort
and cafe sites. Competition for desirable sites is intense, and other restaurant and retail concepts that compete for those sites may
have economic models that permit them to bid more aggressively for sites than we can. There is no guarantee that a sufficient number
of suitable sites will be available in desirable areas or on terms that are acceptable to us in order to achieve our growth plan or meet
our economic objectives in new or existing geographic markets. Our ability to identify, secure, and open new restaurant sites also depends
on other factors, many of which are likely to be more challenging if the COVID-19 pandemic again outbreaks.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Increases
in labor costs, labor shortages, and any difficulties in attracting, motivating, and retaining well- qualified employees within the hospitality
industry could have an adverse effect on our business, financial condition, and results of operations for our resorts and cafes.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Labor
is a significant component in the cost of operating our entrepreneur resorts and cafes. If we face labor shortages, particularly due
to recent labor shortages in the hospitality industry as a result of the pandemic, increased labor costs because of increased competition
for employees, higher employee turnover rates, inefficiency in scheduling our employees, increases in local minimum wage, or other employee
benefits costs (including costs associated with health insurance coverage), our operating expenses could increase and our growth could
be negatively impacted. Our success depends in part upon our ability to attract, motivate, and retain a sufficient number of well-qualified
resort and cafe operators and management personnel, as well as a sufficient number of other qualified employees, including customer service
and kitchen staff, to align with our expansion plans and multi-channel approach. Because of the busy nature of our restaurants, it is
critical that we have a high level of labor productivity and if we do not maintain high engagement or deployment in our restaurants (including
in new restaurants and in new markets), it could have an adverse effect on our business.</span></p>

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

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>As
we have completed the Acquisitions, we may continue pursue other strategic acquisitions or investments. The failure of an acquisition
or investment (including but not limited to the Acquisitions) to be completed or to produce the anticipated results, or the inability
to fully integrate an acquired company, could harm our business.</i></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may from time to time, as opportunities arise or economic conditions permit, acquire or invest in complementary companies or businesses
as part of our strategy to expand our operations, including through acquisitions or investments that may be material in size and/or of
strategic relevance. The success of an acquisition or investment will depend on our ability to make accurate assumptions regarding the
valuation, operations, growth potential, integration and other factors related to that business. We cannot assure you that our acquisitions
or investments will produce the results that we expect at the time we enter into or complete a given transaction.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
acquisition or investment involves a series of risks and challenges that could adversely affect our business, including the failure of
such acquisition to contribute to our commercial strategy or improve our image. We may be unable to generate the expected returns and
synergies on our investments. In addition, the amortization of acquired intangible assets could decrease our net profit and potential
dividends. We may face challenges in integrating acquired companies, which may result in the diversion of our capital and our management&#8217;s
attention from other business issues and opportunities. We may be unable to create and implement uniform and effective controls, procedures
and policies, and we may incur increased costs for integrating systems, people, distribution methods or operating procedures.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may also be unable to integrate technologies of acquired businesses or retain key customers, executives and staff of the businesses acquired.
In particular, we may face challenges in integrating staff working across different geographies and that may be accustomed to different
corporate cultures, which would result in strained relations among existing and new personnel. We could also face challenges in negotiating
favorable collective bargaining agreements with unions due to differences in the negotiating procedures used in different regions. Finally,
we may pursue acquisitions where we acquire a majority stake in such acquisition, but with significant minority investors, or we may
become minority investors in certain operations, wherein our ability to effectively control and manage the business may be limited. If
we are unable to manage growth through acquisitions, our business and financial condition could be materially adversely affected.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, in connection with any future acquisition, we may face liabilities for contingencies related to, among others, (1) legal and/or
administrative proceedings of the acquired company, including civil, regulatory, labor, tax, social security, environmental and intellectual
property proceedings, and (2) financial, reputational and technical problems including those related to accounting practices, disclosures
in financial statements and internal controls, as well as other regulatory issues. These contingencies may not have been identified prior
to the acquisition and may not be sufficiently indemnifiable under the terms of the relevant acquisition agreement, which could have
an adverse effect on our business and financial condition. Even if contingencies are indemnifiable under the relevant acquisition agreement,
the agreed levels of indemnity may not be sufficient to cover actual contingencies as they materialize.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
continued success of our Acquisitions depends initially on the value of the local brands of each of the companies and how we integrate
those brands with Genius Group and GeniusU, which may be materially adversely affected by changes in current and prospective students&#8217;
perceptions post-acquisition.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of our Acquisitions has worked hard to establish the value of their individual brands. A merger or acquisition is a significant event
in any company&#8217;s history, which may cause concern or trigger potentially negative commentary or criticism whether by staff members,
students or local communities. The perception of the changes and improvements we intend to implement with each Acquisition may have unintended
consequences which impact on the current brand value and reputation of each Acquisition. This may be materially adverse to our interests,
it may be inaccurate, and it may harm our performance, prospects and business.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
the certified education courses offered by our Acquisitions could be difficult for us.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
anticipate significant future growth from online courses we offer to students on GeniusU, integrating with our Acquisitions. The expansion
of our existing online programs, the creation of new online programs and the development of new fully online or hybrid programs may not
be accepted by students or our partners, or by government regulators or accreditation agencies. In addition, our efforts may be materially
adversely affected by increased competition in the online education market or because of problems with the performance or reliability
of our online program infrastructure. There is also increasing development of certified online programs by traditional schools universities,
both in the public and private sectors, which may have more consumer acceptance than programs we develop, because of lower pricing or
greater perception of value of their degrees in the marketplace, which may materially adversely affect our business, financial condition
and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
Acquisitions are subject to uncertain and varying laws and regulations, and any changes to these laws or regulations may materially adversely
affect our business, financial condition and results of operations.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three
of our Acquisitions are regulated to varying degrees and in different ways in each of the countries in which we operate an institution:
Education Angels, E-Square and UAV have licenses, approvals, authorizations, or accreditations from various governmental authorities
and accrediting bodies. These licenses, approvals, authorizations, and accreditations must be renewed periodically, usually after an
evaluation of the institution by the relevant governmental authorities or accrediting bodies. These periodic evaluations could result
in limitations, restrictions, conditions, or withdrawal of such licenses, approvals, authorizations or accreditations, which could have
a material adverse effect on our business, financial condition and results of operations. In addition, once licensed, approved, authorized
or accredited, some of our institutions may need approvals for new campuses or to add new degree programs.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of these regulations and their applicable interpretations are subject to change based on changing rules and regulations over time in
each country where we operate. Changes in applicable regulations may cause a material adverse effect on our business, financial condition
and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Regulatory
changes that affect the timing of government-sponsored student aid payments or receipt of government-sponsored financial aid could materially
adversely affect our liquidity.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Two
of our Acquisitions, Education Angels and UAV, receive funding from the New Zealand and US Government, respectively. Education Angels
receives funding from the New Zealand Government for 50% of educator fees based on approval by the New Zealand Ministry of Education.
Students at UAV may qualify for financial aid funding through state and federal agencies. The majority of financial aid available to
UAV students is provided by the Federal Government and referred to as Title IV Aid. This includes the Federal Pell Grant, Federal Supplemental
Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), Federal Direct Loan Program, and Parent Loans for Undergraduate Students
(PLUS). Also, students may be eligible to participate in institutional or private loan programs that enable students to contribute to
his/her education while in college, and the university is also eligible to participate in several state agency programs.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should
the governments in these countries, or in the countries of future acquisitions, change regulations that impact the timing or receipt
of government-sponsored student aid, this could materially adversely affect our liquidity as well as our business and results of operations,
and in turn affect our enrolment numbers.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
changing public perception and changes to government policies with respect to private schools may have a materially adverse impact on
our Acquisitions and our overall plans to expand in the early learning, primary school, secondary school and university markets.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
views taken by students, parents and the government on private schools vary from country to country and change over time. China imposed
restrictions on education companies that operated private tuition centers and Edtech companies providing private tutors in 2021. This
included a broad ban on private companies that teach the Chinese school curriculum from making profits, raising capital or going public.
While China&#8217;s actions against private education institutions did not directly impact our Pre-IPO Group or Acquisitions, as less
than 1% of group revenues is generated from Chinese students, it is an indication of the negative impact a country can impose on private
education and there is a risk that other countries may follow a similar path. For example, the Indian government has expressed concern
about the rapid growth of for- profit, private education in the country. While this has not yet led to any restrictive regulations, it
has resulted in India&#8217;s largest private Edtech startups setting up a self-regulatory industry group to draw up a code of conduct
to present to the government.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the United States, the Biden Administration has indicated that it wants higher scrutiny of for-profit colleges and universities to ensure
higher standards are met in order to qualify for government funding. While there has not yet been any concrete actions taken by the government
in this regard, should such actions be taken and imposed, this may materially adversely affect the revenues of our Acquisition, UAV,
in the event the university is not able to meet any new standards imposed. Any other such restrictions imposed in the future by governments
in the countries where we plan to expand to with our Acquisitions, or any negative changes in public perception towards for-profit education
companies in contrast to non-profit schools may negatively affect our Acquisitions&#8217; and Genius Group&#8217;s business, financial
condition and results of operation.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
poor performance or reputation of other early learning schools or the industry as a whole could tarnish the reputation of our Acquisition,
Education Angels, which could have a negative impact on its business.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
reference specifically to our Acquisition, Education Angels, the company operates in a sector which does not have the same level of oversight
as Primary, Secondary and Tertiary education. For example, in most countries, including the U.S., license requirements to operate a childcare
business vary from state to state, while education standards during early learning are relatively relaxed when compared to the accreditation
and other standards required of primary schools, high schools and universities.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Similarly,
while educators at primary school, high school and university must be qualified as faculty, the standards within early learning are more
relaxed, with some childcare workers or assistants in the industry having few qualifications. This may result in poor performance of
some early learning operators, or in the early learning industry as a whole suffering from a poor reputation, and this in turn my cause
a material adverse effect on Education Angels&#8217; business and our ability to expand our early learning operations in certain countries
or states.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Changes
in the demand for childcare and workplace solutions, which may be negatively affected by demographic trends and economic conditions,
including unemployment rates, may affect our Acquisition, Education Angels.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
target market for our Acquisition, Education Angels, is dual-income families or working single parents who are seeking an early learning
solution for their child that includes childcare. Different countries have different funding programs for early learning and childcare,
but in most cases the parents are required to pay for some or all childcare services. As a result, Education Angels is and will continue
to be dependent on this demographic segment to maintain and grow revenues. Changes in demographic trends, including the number of dual-income
or working single parent families in the workforce, inflation, personal disposable income and birth rates may impact the demand for Education
Angels&#8217; services.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
a deterioration of general economic conditions, including rising unemployment, may adversely impact the demand for our services due to
the tendency of out-of-work parents to diminish or discontinue utilization of our services. Such changes could materially and adversely
affect Education Angels&#8217; business and operating results.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
expansion of our Acquisition, Education Angels, into certain markets including the United States may be negatively impacted by increased
competition based on changes in government regulation and benefit programs.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Countries
from time to time change regulations with respect to childcare and early learning and while this may have a positive impact on our Acquisition,
Education Angels, it may also have a negative impact. For example, in the U.S., President Biden has recently proposed publicly funded
universal preschool for all three- and four-year-olds in partnerships with the states. The initial legislative drafts of the President&#8217;s
proposal for a new federally funded preschool program allow private, for-profit entities to be eligible for participation, but do not
mandate such participation. It is unclear how the proposed legislation will progress in the current political and fiscal climate, or
how the states would implement the programs. Public programs such as this have the ability to either expand or shrink Education Angels&#8217;
ability to serve children in a country such as the U.S. The amount of public funding, the rates paid for early education programs, our
eligibility to be a provider and the terms and conditions of the programs could have either a positive or negative effect on our business,
financial condition and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
example, in the U.S., federal, state or local childcare and early education benefit programs relying primarily on subsidies in the form
of tuition assistance or tax credits could provide us with opportunities for expansion in new or existing markets. However, a federal,
state or local universal benefit such as preschool, if offered primarily or exclusively through public schools or non-profit entities,
could reduce the demand for private home-based education services and negatively impact the financial and operational model that we plan
to expand with Education Angels. If such programs were to significantly expand or our participation is reduced, it could have an adverse
effect on our business, financial condition or results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
Acquisition, E-Square, may be negatively affected by the economic and political conditions in South Africa.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Acquisition, E-Square, operates in Port Elizabeth, South Africa, and relies on the ongoing economic health and political stability of
that country. In recent years South Africa has been affected by a weak economy and political instability. This deterioration in conditions
was compounded by the COVID-19 pandemic. The country is expecting to register economic growth of 1.1% in 2023. Such deterioration of
general economic conditions, including rising inflation and unemployment, may decrease demand for E-Square&#8217;s courses and services
as parents opt for lower cost alternatives. Such changes could materially and adversely affect E-Square&#8217;s business and operating
results.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Public
perception and regulatory changes in the primary school and secondary school systems in countries that E-Square may expand to may have
a materially adverse impact on the company.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
primary school and second school systems in countries where we plan to expand the courses and programs of our Acquisition, E-Square,
are undergoing changes in public perception together with regulatory changes. For example, in the United Kingdom, government funding
of schools has dropped 8% in the last decade and public confidence in the high school exam system dropped during the COVID-19 Pandemic
after the government abolished all exams in 2020 and replaced them with teacher assessments.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2020 the government then used computer algorithms to reject 39% of teacher recommendations and downgrade student marks, and this
decision was in itself then overturned with the government reverting back to teacher assessments. Such mismanagement and the resulting
negative impact experienced by students and parents can lead to a negative perception and mistrust of the education system as a whole.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
countries such as the United States may not have experienced mismanagement on the scale of the United Kingdom, there are signs that there
is increasing mistrust of the current primary school and high school system by parents, with discontent ranging from the conduct of school
boards and the policies of school districts to the content and the quality of education provided. The possible negative public perception
of the primary school and secondary school system as a whole can be seen as an opportunity for companies that can provide a superior
offering to parents and students, but it also can be a risk that may adversely affect E-Square&#8217;s ability to expand into markets
where all schools, including new entrants, are appealing to a skeptical market with a low level of trust.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
growth plans for our Acquisition, E-Square, and our plans to expand into the primary school and high school markets will be a complex
and lengthy process where future success is not assured.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that the growth of our Pre-IPO Group has been supported by our strategy of focusing on adult entrepreneur training where government
regulation and curriculum requirements are far more relaxed than in the primary school and high school sectors. We believe the main reason
that there has not been a well- known and well-branded new global curriculum developed and accepted internationally since the International
Baccalaureate system in 1968 is the complex combination of government regulations, accreditations and curriculum standards that must
be met across multiple countries, together with the varying expectations of parents, students, employers, colleges and universities as
to what these schools must deliver.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have a staged growth plan which we explain in the &#8220;Our Genius Curriculum&#8221; section in this Annual Report, in which we plan
to begin by providing E-Square&#8217;s courses as supplementary courses to the existing school system, delivered on the GeniusU platform,
and in which we view our aspiration of delivering our Genius Curriculum as a potential replacement option to the existing primary school
and high school system in countries we expand to, similar to how E-Square operates in South Africa, as a longer term goal. However, this
plan may be more complex and lengthier than we anticipate and based on the obstacles we face in the future as we expand globally the
future success of E-Square&#8217;s growth is not assured.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we cannot maintain student enrollments and maintain tuition levels in our Acquisition, UAV, the university&#8217;s results of operations
may be materially adversely affected.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Acquisition, UAV, has historically been dependent on students from the Lancaster Valley and Greater Los Angeles area for enrolments.
We plan to expand on the student base by both attracting students globally to attend UAV and to deliver UAV&#8217;s courses on the GeniusU
platform. We are, however, planning for UAV to maintain its current student enrollment and tuition levels through the same methods it
has employed historically.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result, our strategy for growth and profitability of UAV depends, in part, upon maintaining these historic levels. Attrition rates
are often due to factors outside our control. Students sometimes face financial, personal or family constraints that require them to
drop out of university. They also are affected by local economic and social problems. In addition, our ability to attract and retain
students to UAV may require us to discount tuition from published levels, and may prevent us from increasing tuition levels at a rate
consistent with inflation and increases in our costs.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Post
COVID-19 pandemic, in the financial year 2021 and 2022, UAV saw a decline in its revenue. If we are unable to control the rate of student
attrition, our overall enrollment levels are likely to decline or if we are unable to charge tuition rates that are both competitive
and cover our rising expenses, our business, financial condition, cash flows and results of operations may be materially adversely affected.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
reputation of our Acquisition, UAV, may be negatively influenced by the actions of other for-profit and private universities.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
recent years, there have been a number of regulatory investigations and civil litigation matters targeting post-secondary for-profit
education institutions in the United States. These investigations and lawsuits have alleged, among other things, deceptive trade practices,
false claims against the United States and noncompliance with state and DOE regulations. These allegations have attracted adverse media
coverage and have been the subject of federal and state legislative hearings and investigations in the United States and in other countries.
Allegations against the post-secondary for-profit and private education sectors may affect general public perceptions of for-profit and
private educational institutions, including UAV, in a negative manner. Adverse media coverage regarding other for-profit or private educational
institutions or regarding us directly or indirectly could damage our reputation, reduce student demand for our programs, materially adversely
affect our revenues and operating profit or result in increased regulatory scrutiny.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
university and vocational college market is very competitive, and we may not be able to achieve our growth plans with UAV.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
university and vocational college markets, both in the United States and around the world, are highly fragmented and are very competitive
and dynamic. Currently our Acquisition, UAV, competes with traditional public and private colleges and universities and other proprietary
institutions, including those that offer online professional-oriented programs. Many of these institutions are larger, more widely known
and have more established reputations than UAV. Some of our competitors in both the public and private sectors may have greater financial
and other resources than we have and have operated in their markets for many years.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also anticipate potential competition from Edtech companies that prioritize open access education to students at university or certification
level. A number of these providers have been formed recently to provide online curriculum from leading academics at little or no cost
to the student. If this new modality is successful, it could disrupt the economics of the current education model (both for-profit and
not-for-profit institutions). Other competitors may include large, well-capitalized companies that may pursue a strategy similar to ours
of acquiring or establishing for-profit institutions.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
institutions receive substantial government subsidies, and public and private not-for-profit institutions have access to government and
foundation grants, tax-deductible contributions and other financial resources generally not available to for-profit institutions. Accordingly,
public and private not-for-profit institutions may have instructional and support resources superior to those in the for-profit sector,
and public institutions can offer substantially lower tuition prices or other advantages that we cannot match.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
of these large, well-capitalized competitors may make it more difficult for us to expand UAV as part of our growth strategy. They may
also be able to charge lower tuitions or attract more students, which would adversely affect our growth and the profitability of UAV.
There is also an increased ability of traditional universities to offer online programs and we expect competition to increase as the
online market matures. This may create greater pricing or operating pressure on us, which could have a material adverse effect on UAV&#8217;s
enrollments, revenues and profit margins. We may not be able to compete successfully against current or future competitors and may face
competitive pressures that could have a material adverse effect on UAV&#8217;s business and the financial condition and results of operations
for UAV and the operations of Genius Group focused on the university sector.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
the graduates of our Acquisition, UAV, are unable to obtain professional licenses or certifications required for employment in their
chosen fields of study, the university&#8217;s reputation may suffer and we may face declining enrollments and revenues or be subject
to student litigation.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV&#8217;s
students require or desire professional licenses or certifications after graduation to obtain employment in their chosen fields. Their
success in obtaining such qualifications depends on several factors, including the individual merits of the student, whether the institution
and the program were approved by the relevant government or by a professional association, whether the program from which the student
graduated meets all governmental requirements and whether the institution is accredited. If one or more governmental authorities refuses
to recognize UAV&#8217;s graduates for professional qualifications in the future based on factors relating to us or our programs, the
potential growth of our programs would be negatively affected, which could have a material adverse effect on our business, financial
condition and results of operations. In addition, we could be exposed to litigation that would force us to incur legal and other expenses
that could have a material adverse effect on our business, financial condition and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
the graduates of UAV do not meet possible future standards of &#8220;gainful employment&#8221;, this may negatively affect the university&#8217;s
reputation and access to government funding.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Biden Administration has recently expressed interest in reinstating the &#8220;Gainful Employment Rule&#8221; as a measure to hold universities
and colleges accountable for both the employment and earnings of graduating students. The Gainful Employment Rule was first issued in
2014 and was designed to ensure that career- education programs leave their graduates with debts that are affordable relative to their
actual incomes. It distinguishes between programs that provide affordable training that leads to well-paying jobs and those that do not,
based on the debt-to-income ratios of their graduates.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
rule was rescinded by the previous US administration in 2019. The Biden Administration has proposed to reimpose the rule as a measure
by which the government may assess whether a university or college qualifies for federal funding. While no specifics have yet been agreed
or proposed, if such a rule was imposed, it would require all higher education institutions, including UAV, to provide the government
with information on completion rates, debt and other trends by program, with the possibility that government funding may become restricted
should thresholds not be met. In the event that UAV were to fall below any threshold set, this may negatively affect the university&#8217;s
reputation or ability to access government funding, which in term could have a material adverse effect on UAV&#8217;s business, financial
conditions and results of operation.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growing
the online academic programs of UAV on GeniusU could be difficult for us.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
the acquisition of UAV, we anticipate a higher future growth from online courses we offer to students from the second half of 2023. The
expansion of our existing online programs, the creation of new online programs and the development of new fully online or hybrid programs
may not be accepted by students or employers, or by government regulators or accreditation agencies. In addition, our efforts may be
materially adversely affected by increased competition in the online education market or because of problems with the performance or
reliability of our online program infrastructure. There is also increasing development of online programs by traditional universities,
both in the public and private sectors, which may have more consumer acceptance than programs we develop, because of lower pricing or
greater perception of value of their degrees in the marketplace, which may materially adversely affect our business, financial condition
and results of operations.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
for-profit universities and colleges, which offer online education alternatives different from ours, perform poorly, it could tarnish
the reputation of online education as a whole, which could impair UAV&#8217;s ability to grow its business.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For-profit
universities, many of which provide course offerings predominantly online, are under intense regulatory and other scrutiny, which has
led to media attention that has sometimes portrayed that sector in an unflattering light. Some for-profit online school operators have
been subject to governmental investigations alleging the misuse of public funds, financial irregularities, and failure to achieve positive
outcomes for students, including the inability to obtain employment in their fields.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
allegations have attracted significant adverse media coverage and have prompted legislative hearings and regulatory responses. These
investigations have focused on specific companies and individuals, and even entire industries in the case of recruiting practices by
for-profit higher education companies. Even though we believe we can educate students and partners on our unique differences and culture
that sets us apart from these companies, this negative media attention may nevertheless add to skepticism about online higher education
generally, including our solutions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
precise impact of these negative public perceptions on our current and future business is difficult to discern. If these few situations,
or any additional misconduct, cause all Edtech and online learning programs to be viewed by the public or policymakers unfavorably, we
may find it difficult to grow UAV or attract additional students for UAV&#8217;s programs. In addition, this perception could serve as
the impetus for more restrictive legislation, which could limit our future business opportunities. Moreover, allegations of abuse of
federal financial aid funds and other statutory violations against for-profit higher education companies could negatively impact our
opportunity to succeed due to increased regulation and decreased demand. Any of these factors could negatively impact our ability to
grow UAV and the university and vocational college segment of our business.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
growth plans for UAV and our plans to expand into the university and vocational college market in the United States and globally is a
complex and lengthy process, exposing us to risks inherent in international growth.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">One
element of our growth strategy for UAV is to expand our international operations and establish a worldwide student base. We cannot guarantee
that our expansion efforts into international markets will be successful. The challenges in expanding the UAV model include the complexity
of converting elements of UAV&#8217;s degree courses and certification courses into a suitable form on the GeniusU Edtech platform, the
need to gain accreditation and licenses in the various states and countries where this is required, and our ability to attract enough
suitably qualified faculty to deliver the courses both online and on campus.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have a staged growth plan for UAV which we explain in the &#8220;Our Genius Curriculum&#8221; section in this Annual Report, in which
we aim to grow gradually within the university and college sector through a gradual, staged process to ensure we overcome these challenges
effectively as we grow. However, this plan may be more complex and lengthier than we anticipate and based on the obstacles we face in
the future as we expand globally the future success of UAV&#8217;s growth is not assured.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
course content of our Acquisition, PIN, requires ongoing updating based on the current government regulations and market conditions of
the property market.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
course content delivered by the Pre-IPO Group has historically been focused on entrepreneur skills, and while the courses are refreshed
annually, the majority of the leadership, sales, marketing, team development and financial management skills that are taught remain relevant
from one year to the next. Our Acquisition, PIN, has thrived by running courses and events where students can learn the most current
strategies that property investors are applying effectively to build their property portfolio. These strategies tend to be more dynamic
based on changing market trends, interest rates, financing opportunities and changes in government policies, incentives and restrictions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
this has historically been an opportunity for PIN, as its locally based city event model led by experienced property investors has enabled
it to deliver more relevant, up-to-date training and information than nationally delivered property investing courses, this requirement
to continually update and localize course content is a risk to the growth of PIN. If the company fails to innovate or maintain its relevance
in its course content, this may negatively affect the company&#8217;s financial conditions and results of operation.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
wide range of differences between the property markets in different countries may make it challenging for PIN to achieve its global expansion
plan.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
PIN has an online student base that is in 52 countries, it has historically operated its events and city-based investor communities only
in the United Kingdom. This has been partly due to its focus on the United Kingdom market, and partly due to the complexities of providing
specific, practical market knowledge of the property markets in different countries. Our plan is to expand PIN&#8217;s locally based
model to countries throughout the world with our GeniusU Edtech platform and global community. This plan is dependent on us replicating
PIN&#8217;s success in attracting locally based property investors and professionals who are willing to share their expertise, experience
and opportunities in the countries we expand to. This may be more complex or take more time than we anticipate, which in turn may negatively
affect our expansion plans and our results of operation.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
reputation of PIN may be negatively influenced by the actions of other property investing training companies and courses.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
recent years, there have been a number of regulatory investigations and civil litigation matters targeting unethical or unprofessional
training companies or individuals providing advice on property investing or property trading. These have occurred in the United Kingdom,
the United States and other countries.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
investigations and lawsuits have alleged, among other things, deceptive trade practices, false claims and unregulated financial advice.
These allegations have attracted adverse media coverage and have been the subject of federal and state legislative hearings and investigations
in the United States and in other countries. Allegations against this investment education sector and the actions of certain companies
in this sector may affect general public perceptions towards the sector in a negative manner. Adverse media coverage regarding other
training companies or regarding PIN directly or indirectly could damage our reputation, reduce student demand for our programs, materially
adversely affect our revenues and operating profit or result in increased regulatory scrutiny.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Change
of users behavior post Covid may impact our ability to continue and gain interest around our generated content at a level during Covid
, which might translate to lower number of users and revenue.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
Films generates multiple content films during the year, and sells them to specific audiences. Possible change of those user behaviors
, post Covid, who spend less time in front of digital media , might impact Revealed film&#8217;s ability to continue and generate interest
around its newly published content which will translate to lower number of users and revenue. The possible decline in revenue may also
reduce the planned investment in new content that supports our lifelong learning curriculum.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Taxing
authorities may successfully assert that we have not properly collected or remitted, or in the future should collect or remit, sales
and use, gross receipts, value added, or similar taxes, or employment, payroll, or withholding taxes, and may successfully impose additional
obligations on us, and any such assessments, obligations, or inaccuracies could adversely affect our business, financial condition, and
results of operations. </i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
application of non-income, or indirect, taxes, such as sales and use tax, value-added tax, goods and services tax, business tax, and
gross receipt tax, to businesses like ours is an evolving issue. Significant judgment is required on an ongoing basis to evaluate applicable
tax obligations, and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination
is uncertain because it is not clear how new and existing statutes might apply to our business. In addition, governments are looking
for ways to increase revenue, which has resulted in discussions about tax reform and other legislative action to increase tax revenue,
including through indirect taxes. Such taxes could adversely affect our financial condition and results of operations. We are subject
to indirect taxes, such as sales, use, value-added, and goods and services taxes, in the United States and other foreign jurisdictions,
and we do not collect and remit indirect taxes in all jurisdictions in which we operate on the basis that such indirect taxes are not
applicable to us. Certain jurisdictions in which we do not collect and remit such taxes may assert that such taxes are applicable, which
could result in tax assessments, including penalties and interest, and we may be required to collect such taxes in the future. A successful
assertion by one or more tax authorities requiring us to collect taxes in jurisdictions in which we do not currently do so or to collect
additional taxes in a jurisdiction in which we currently collect taxes could result in substantial tax liabilities, including taxes on
past sales, as well as penalties and interest, could discourage the use of our platform, could increase the cost for consumers using
our platform, or could otherwise harm our business, financial condition, and results of operations. Further, even when we are collecting
taxes and remitting them to the appropriate authorities, we may fail to accurately calculate, collect, report, and remit such taxes.
Additionally, one or more states, localities, or other taxing jurisdictions may seek to impose additional reporting, record-keeping,
or indirect tax collection obligations on businesses like ours. For example, taxing authorities in the United States and other countries
have identified ecommerce platforms as a means to calculate, collect, and remit indirect taxes for transactions taking place over the
internet, and are considering related legislation. As a result of these and other factors, the ultimate amount of tax obligations owed
may differ from the amounts recorded in our financial statements and any such difference may adversely affect our results of operations
in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.</span></p>

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

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

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
                                            Related to Investing in a Foreign Private Issuer or a Singapore Company</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>As
a foreign private issuer, we are permitted to follow certain home country corporate governance practices in lieu of certain requirements
under the NYSE American listing standards. This may afford less protection to holders of our ordinary shares than U.S. regulations.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a foreign private issuer whose ordinary shares are listed on the NYSE American, we are permitted to follow certain home country corporate
governance practices in lieu of certain requirements under the NYSE American listing standards. A foreign private issuer must disclose
in its Annual Reports filed with the SEC each requirement under the NYSE American listing standards with which it does not comply, followed
by a description of its applicable home country practice. Our home country practices in Singapore may afford less protection to holders
of our ordinary shares. We may rely on exemptions available under the NYSE American listing standards to a foreign private issuer and
follow our home country practices in the future, and as a result, you may not be provided with the benefits of certain corporate governance
requirements of the NYSE American listing standards. As of the time of our listing on the NYSE American, we intend to rely on such an
exemption with respect to our quorum requirement for shareholder meetings, such that we will not be in compliance with the NYSE American&#8217;s
standard of a quorum of at least 33 1&#8725;3% of shares issued and outstanding and entitled to vote.</span></p>


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>As
a foreign private issuer, we are not subject to U.S. proxy rules and are subject to Exchange Act reporting obligations that, to some
extent, are more lenient and less detailed than those of a U.S. issuer.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
report under the Exchange Act as a foreign private issuer. Because we qualify as a foreign private issuer under the Exchange Act, we
will be exempt from certain provisions of the Exchange Act that are applicable to U.S. public companies, including: the sections of the
Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange
Act; the sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability
for insiders who profit from trades made in a short period of time; and the rules under the Exchange Act requiring the filing with the
SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8-K,
upon the occurrence of specified significant events. In addition, we will not be required to provide as detailed disclosure as a U.S.
registrant, particularly in the area of executive compensation. It is possible that some investors may not be as interested in investing
in our ordinary shares as the securities of a U.S. registrant that is required to provide more frequent and detailed disclosure in certain
areas, which could adversely affect our share price.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may lose our foreign private issuer status, which would then require us to comply with the Exchange Act&#8217;s domestic reporting regime
and cause us to incur additional legal, accounting and other expenses.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to maintain our current status as a foreign private issuer, either (1) a majority of our ordinary shares must be either directly
or indirectly owned of record by non-residents of the United States or (2) (a) a majority of our executive officers or directors must
not be U.S. citizens or residents, (b) more than 50 percent of our assets cannot be located in the United States and (c) our business
must be administered principally outside the United States. If we lost this status, we would be required to comply with the Exchange
Act reporting and other requirements applicable to U.S. domestic issuers, which are more detailed and extensive than the requirements
for foreign private issuers, including, but not limited to preparing our financial statements under GAAP. We may also be required to
make changes in our corporate governance practices in accordance with various SEC rules and the NYSE American and Upstream listing standards.
The regulatory and compliance costs to us under U.S. securities laws if we are required to comply with the reporting requirements applicable
to a U.S. domestic issuer may be higher than the cost we would incur as a foreign private issuer. As a result, we expect that a loss
of foreign private issuer status would increase our legal and financial compliance costs. We also expect that if we were required to
comply with the rules and regulations applicable to U.S. domestic issuers, it would make it more difficult and expensive for us to obtain
director and officer liability insurance. These rules and regulations could also make it more difficult for us to attract and retain
qualified Board members.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are a Singapore incorporated company and it may be difficult to enforce a judgment of U.S. courts for civil liabilities under U.S. federal
securities laws against us, our directors or officers in Singapore.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are incorporated under the laws of the Republic of Singapore, and certain of our directors are residents outside the United States. Moreover,
a significant portion of our consolidated assets are located outside of the United States. Although we are incorporated outside the United
States, we have agreed to accept service of process in the United States through our agent designated for that purpose. Nevertheless,
because a majority of the consolidated assets owned by us are located outside of the United States, any judgment obtained in the United
States against us may not be enforceable within the United States.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is no treaty in force between the United States and Singapore providing for the reciprocal recognition and enforcement of judgments in
civil and commercial matters and a final judgment for the payment of money rendered by any federal or state court in the United States
based on civil liability, whether or not predicated solely upon the federal securities laws, would, therefore, not be automatically enforceable
in Singapore. There is uncertainty as to whether judgments of courts in the United States based upon the civil liability of the federal
securities laws of the United States would be recognized or enforceable in Singapore. In addition, holders of book-entry interests in
our shares (for example, where such shareholders hold our shares indirectly through the Depository Trust Company) will be required to
be registered shareholders as reflected in our register of members in order to have standing to bring a shareholder action and, if successful,
to enforce a foreign judgment against us, our directors or our executive officers in the Singapore courts.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
administrative process of becoming a registered shareholder could result in delays prejudicial to any legal proceedings or enforcement
action. Consequently, it may be difficult for investors to enforce against us, our directors or our officers in Singapore judgments obtained
in the United States which are predicated upon the civil liability provisions of the federal securities laws of the United States.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are incorporated in Singapore and our shareholders may have more difficulty in protecting their interests than they would as shareholders
of a corporation incorporated in the United States.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
corporate affairs are governed by our constitution and by the laws governing companies incorporated in Singapore. The rights of our shareholders
and the responsibilities of our Board members under Singapore law may be different from those applicable to a corporation incorporated
in the United States in material respects. Principal shareholders of Singapore companies do not owe fiduciary duties to minority shareholders,
as compared, for example, to controlling shareholders in corporations incorporated in Delaware. Our public shareholders may have more
difficulty in protecting their interests in connection with actions taken by our management, our Board members or our principal shareholders
than they would as shareholders of a corporation incorporated in the United States.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, only persons who are registered as shareholders in our register of members are recognized under Singapore law as shareholders
of our Company. Only registered shareholders have legal standing to institute shareholder actions against us or otherwise seek to enforce
their rights as shareholders. Investors in our shares who are not specifically registered as shareholders in our register of members
(for example, where such shareholders hold shares indirectly through the Depository Trust Company) are required to become registered
as shareholders in our register of members in order to institute or enforce any legal proceedings or claims against us, our directors
or our executive officers relating to shareholder rights. Holders of book-entry interests in our shares may become registered shareholders
by exchanging their book-entry interests in our shares for certificated shares and being registered in our register of members. Such
process could result in administrative delays which may be prejudicial to any legal proceeding or enforcement action.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are subject to the laws of Singapore, which differ in certain material respects from the laws of the United States.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a company incorporated under the laws of the Republic of Singapore, we are required to comply with the laws of Singapore, certain of
which are capable of extra-territorial application, as well as our constitution. In particular, we are required to comply with certain
provisions of the SFA, which prohibit certain forms of market conduct and information disclosures, and impose criminal and civil penalties
on corporations, directors and officers in respect of any breach of such provisions. In addition, the Singapore Code on Take-overs and
Mergers (the &#8220;Singapore Take-over Code&#8221;), specifies, among other things, certain circumstances in which a general offer is
to be made upon a change in control of a Singapore-incorporated public company, and further specifies the manner and price at which voluntary
and mandatory general offers are to be made.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
laws of Singapore and of the United States differ in certain significant respects. The rights of our shareholders and the obligations
of our directors and officers under Singapore law may be different from those applicable to a company incorporated in the State of Delaware
in material respects, and our shareholders may have more difficulty and less clarity in protecting their interests in connection with
actions taken by our management, members of our board of directors or our controlling shareholders than would otherwise apply to a company
incorporated in the State of Delaware. See &#8220;Comparison of Shareholder Rights&#8221; for a discussion of certain differences between
Singapore and Delaware corporation law.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the application of Singapore law, in particular, the Companies Act 1967 of Singapore (the &#8220;Singapore Companies Act&#8221;),
may, in certain circumstances, impose more restrictions on us, our shareholders, directors and officers than would otherwise be applicable
to a company incorporated in the State of Delaware. For example, the Singapore Companies Act requires a director to act with a reasonable
degree of diligence in the discharge of the duties of his office and, in certain circumstances, imposes criminal liability for specified
contraventions of particular statutory requirements or prohibitions. In addition, pursuant to the provisions of the Singapore Companies
Act, shareholders holding 10% or more of the total number of paid-up shares as at the date of the deposit carrying the right of voting
at general meetings (disregarding paid-up shares held as treasury shares) may by depositing a requisition, require our directors to convene
an extraordinary general meeting. If our directors do not within 21 days after the date of deposit of the requisition proceed to convene
a meeting, the requisitioning shareholders, or any of them representing more than 50% of the total voting rights represented of all of
them, may proceed to convene such meeting, and we will be liable for the reasonable expenses incurred by such requisitioning shareholders.
We are also required by the Singapore Companies Act to deduct corresponding amounts from fees or other remuneration payable by us to
such of the directors as are in default.</span></p>

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


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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
take-over laws contain provisions that may vary from those in other jurisdictions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Singapore Take-over Code applies to, among others, corporations with a primary listing of their equity securities in Singapore. While
the Singapore Take-over Code is drafted with, among others, listed public companies in mind, unlisted public companies with more than
50 (fifty) shareholders and net tangible assets of S$5.0 million or more, must also observe the letter and spirit of the general principles
and rules of the Singapore Take-over Code, wherever this is possible and appropriate. Public companies with a primary listing overseas
may apply to Securities Industry Council (&#8220;SIC&#8221;) to waive the application of the Singapore Take-over Code. As at the date
of this Annual Report, no application has been made to SIC to waive the application of the Singapore Take-over Code in relation to us.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this regard, the Singapore Take-over Code contains certain provisions that may possibly delay, deter or prevent a future take-over or
change in control of us. Under the Singapore Take-over Code, except with the consent of the SIC, any person acquiring an interest, whether
by a series of transactions over a period of time or not, either on his own or together with parties acting in concert with him, in 30%
or more of our voting shares is required to extend a take-over offer for all remaining voting shares in accordance with the procedural
and other requirements under the Singapore Take-over Code. Except with the consent of the SIC, such a take-over offer is also required
to be made if a person holding between 30% and 50% (both inclusive) of our voting shares, either on his own or together with parties
acting in concert with him, acquires additional voting shares representing more than 1% of our voting shares in any six-month period.
While the Singapore Take-over Code seeks to ensure an equality of treatment among shareholders in take-over or merger situations, its
provisions could substantially impede the ability of our shareholders to benefit from a change of control and, as a result, may adversely
affect the market price of our ordinary shares and the ability to realize any benefits from a potential change of control.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Subject
to the general authority to allot and issue new ordinary shares provided by our shareholders, the Singapore Companies Act and our constitution,
our directors may allot and issue new ordinary shares on terms and conditions and for such purposes as may be determined by our Board
in its sole discretion.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
Singapore law, we may only allot and issue new shares with the prior approval of our shareholders in a general meeting. Subject to the
general authority to allot and issue new ordinary shares provided by our shareholders, the provisions of the Singapore Companies Act
and our constitution, we may allot and issue new ordinary shares on such terms and conditions and for such purposes as may be determined
by our Board in its sole discretion. Any additional issuances of new ordinary shares may dilute our shareholders&#8217; percentage ownership
interests in our ordinary shares and/or adversely impact the market price of our ordinary shares.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may be or become a passive foreign investment company, which could result in adverse U.S. federal income tax consequences to U.S. Holders.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
rules governing passive foreign investment companies (&#8220;PFICs&#8221;) can have adverse effects for U.S. federal income tax purposes.
The tests for determining PFIC status for a taxable year depend upon the relative values of certain categories of assets and the relative
amounts of certain kinds of income. The determination of whether we are a PFIC, which must be made annually after the close of each taxable
year, depends on the particular facts and circumstances (such as the valuation of our assets, including goodwill and other intangible
assets) and may also be affected by the application of the PFIC rules, which are subject to differing interpretations. The fair market
value of our assets is expected to relate, in part, to (a) the market price of our ordinary shares and (b) the composition of our income
and assets, which will be affected by how, and how quickly, we spend any cash that is raised in any financing transaction. Moreover,
our ability to earn specific types of income that we currently treat as non-passive for purposes of the PFIC rules is uncertain with
respect to future years. Because the value of our assets for purposes of determining PFIC status will depend in part on the market price
of our ordinary shares, which may fluctuate significantly. We do not expect to be a PFIC for our current taxable year or in the foreseeable
future. However, there can be no assurance that we will not be considered a PFIC for any taxable year.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are a PFIC, a U.S. Holder (defined below) would be subject to adverse U.S. federal income tax consequences, such as ineligibility
for any preferred tax rates on capital gains or on actual or deemed dividends, interest charges on certain taxes treated as deferred,
and additional reporting requirements under U.S. federal income tax laws and regulations. A U.S. Holder may in certain circumstances
mitigate adverse tax consequences of the PFIC rules by filing an election to treat the PFIC as a qualified electing fund (&#8220;QEF&#8221;)
or, if shares of the PFIC are &#8220;marketable stock&#8221; for purposes of the PFIC rules, by making a mark-to- market election with
respect to the shares of the PFIC. We do not intend to comply with the reporting requirements necessary to permit U.S. Holders to elect
to treat us as a QEF. If a U.S. Holder makes a mark- to-market election with respect to its ordinary shares, the U.S. Holder is in its
U.S. federal taxable income an amount reflecting any year end increase in the value of its ordinary shares. For purposes of this discussion,
a &#8220;U.S. Holder&#8221; is a beneficial owner of ordinary shares that is for U.S. federal income tax purposes: (i) an individual
who is a citizen or resident of the United States; (ii) a corporation (or other entity taxable as a corporation for U.S. federal income
tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; (iii) an
estate the income of which is subject to U.S. federal income taxation regardless of its source; or (iv) a trust (a) if a court within
the U.S. can exercise primary supervision over its administration, and one or more U.S. persons have the authority to control all of
the substantial decisions of that trust, or (b) that was in existence on August 20, 1996, and validly elected under applicable Treasury
Regulations to continue to be treated as a domestic trust.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investors
should consult their own tax advisors regarding all aspects of the application of the PFIC rules to the ordinary shares.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
taxes may differ from the tax laws of other jurisdictions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospective
investors should consult their tax advisors concerning the overall tax consequences of purchasing, owning and disposing of our shares.
Singapore tax law may differ from the tax laws of other jurisdictions, including the United States.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Tax
authorities could challenge the allocation of income and deductions among our subsidiaries, which could increase our overall tax liability.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are organized in Singapore, and we currently have subsidiaries in the United States, United Kingdom, New Zealand, South Africa, and Indonesia.
As we grow our business, we expect to conduct increased operations through our subsidiaries in various jurisdictions. If two or more
affiliated companies are located in different jurisdictions, the tax laws or regulations of each country generally will require transactions
between those affiliated companies to be conducted on terms consistent with those between unrelated companies dealing at arm&#8217;s
length, and appropriate documentation generally must be maintained to support the transfer prices. We maintain our transfer pricing policies
to be compliant with applicable transfer pricing laws, but our transfer pricing procedures are not binding on applicable tax authorities.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
tax authorities were to successfully challenge our transfer pricing, there could be an increase in our overall tax liability, which could
adversely affect our financial condition, results of operations and cash flows. In addition, the tax laws in the jurisdictions in which
we operate are subject to differing interpretations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
authorities may challenge our tax positions, and if successful, such challenges could increase our overall tax liability. In addition,
the tax laws in the jurisdictions in which we operate are subject to change. We cannot predict the timing or content of such potential
changes, and such changes could increase our overall tax liability, which could adversely affect our financial condition, results of
operations and cash flows.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks
Related to Ownership of Ordinary Shares and Convertible Note Raise</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>In
the future, our ability to raise additional capital to expand our operations and invest in our business may be limited, and our failure
to raise additional capital, if required, could impair our business.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
we currently anticipate that our available funds will be sufficient to meet our cash needs for at least the next 12 months, we may need
or elect to seek additional financing at any time. Our ability to obtain financing will depend on, among other things, our development
efforts, business plans, operating performance and condition of the capital markets at the time we seek financing. If we need or elect
to raise additional funds, we may not be able to obtain additional debt or equity financing on favorable terms, if at all. If we raise
additional equity financing, our shareholders may experience significant dilution of their ownership interests and the per-share value
of our ordinary shares could decline. If we engage in additional debt financing, we may be required to accept terms that further restrict
our ability to incur additional indebtedness and force us to maintain specified liquidity or other ratios and limit the operating flexibility
of our business. If we need additional capital and cannot raise it on acceptable terms, we may not be able to, among other things:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fund
                                            our operating capital requirements as we grow;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Continue
                                            to grow by acquiring companies;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retain
                                            the leadership team and staff required;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repay
                                            our liabilities as they come due; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Make
                                            the necessary investments in our Edtech platform.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
share price may be volatile, and the market price of our ordinary shares may drop below the price you pay.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
prices for securities of newly public companies have historically been particularly volatile in response to various factors, some of
which are beyond our control. As a result of this volatility, you may not be able to sell your ordinary shares at or above the price
you pay for your shares. Some of the factors that may cause the market price for our ordinary shares to fluctuate include:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual
                                            or anticipated fluctuations in our key operating metrics, financial condition and operating
                                            results;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
                                            of current long-term contracts;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual
                                            or anticipated changes in our growth rate;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Competitors
                                            developing more advanced technology attracting our customers;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
                                            announcement of actual results for a fiscal period that are lower than projected or expected
                                            or our announcement of revenue or earnings guidance that is lower than expected;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in estimates of our financial results or recommendations by securities analysts;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in market valuations of similar companies;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in our capital structure, such as future issuances of securities or the incurrence of debt;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Announcements
                                            by us or our competitors of significant products or services, contracts, acquisitions or
                                            strategic alliances;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulatory
                                            developments in Singapore, the United States or other countries;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual
                                            or threatened litigation involving us or our industry;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions
                                            or departures of key personnel;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
                                            trends in the education industry as a whole;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share
                                            price and volume fluctuations attributable to inconsistent trading volume levels of our shares;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further
                                            issuances of ordinary shares by us;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
                                            or ordinary shares by our shareholders;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repurchases
                                            of ordinary shares; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
                                            in general economic, industry and market conditions.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the stock market in general, and the market for education companies in particular, has experienced extreme price and volume
fluctuations that have often been unrelated or disproportionate to the operating performance of those companies. Securities class action
litigation has often been instituted against companies following periods of volatility in the overall market and in the market price
of a company&#8217;s securities. This litigation, if instituted against us, could result in very substantial costs, divert our management&#8217;s
attention and resources, and harm our business, operating results and financial condition. In addition, recent fluctuations in the financial
and capital markets have resulted in volatility in securities prices.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
requirement that we repay the Convertible Note and interest thereon in cash under certain circumstances, and the restrictive covenants
contained in the Convertible Note, could adversely affect our business plan, liquidity, financial condition, and results of operations.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be required to repay the Convertible Note and interest thereon in cash, if we do not meet certain equity conditions as set forth
in the Convertible Note (including minimum price and volume thresholds) or in certain other circumstances. For example, we will be required
to repay the outstanding principal balance and accrued but unpaid interest, along with a premium, upon the occurrence of a Change of
Control (as defined in the Convertible Note). In addition, the Convertible Note contain restrictive covenants, including financial covenants.
These obligations and covenants could have important consequences on our business. In particular, they could:</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">require
                                            us to dedicate a substantial portion of our cash flow from operations to payments on the
                                            Convertible Note;</span></td></tr></table>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limit,
                                            among other things, our ability to borrow additional funds and otherwise raise additional
                                            capital, and our ability to conduct acquisitions, joint ventures or similar arrangements,
                                            as a result of our obligations to make such payments and comply with the restrictive covenants
                                            in the Convertible Note;</span></td></tr></table>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limit
                                            our flexibility in planning for, or reacting to, changes in our businesses and the industries
                                            in which we operate;</span></td></tr></table>

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


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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">increase
                                            our vulnerability to general adverse economic and industry conditions; and</span></td></tr></table>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">place
                                            us at a competitive disadvantage compared to our competitors that have lower fixed costs.</span></td></tr></table>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
debt service requirements of any other outstanding indebtedness or preferred stock we incur or issue in the future, as well as the restrictive
covenants contained in the governing documents for any such indebtedness, could intensify these risks.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event we are required to repay the Convertible Note in cash, we may seek to refinance the remaining balance, by either refinancing
with the holder of the Convertible Note, by raising sufficient funds through a sale of equity or debt securities or by obtaining a credit
facility. No assurances can be given that we will be successful in making the required payments under the Convertible Note, or in refinancing
our obligations on favorable terms, or at all. Should we decide to refinance, it could be dilutive to shareholders.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to make the required cash payments, there could be a default under the Convertible Note. In such event, or if a default
otherwise occurs under the Convertible Note, including as a result of our failure to comply with the financial or other covenants contained
therein, the holder of the Convertible Note will be able to elect to redeem the Convertible Note for cash equal to 115% of the then-outstanding
principal amount of the Convertible Note (or such lesser principal amount accelerated by the holder) plus accrued and unpaid interest
thereon, or to convert the Convertible Note into ordinary shares at a conversion price equal to the lowest of (i) the applicable Conversion
Price as in effect on the applicable Conversion Date, (ii) 85% of the VWAP of the ordinary shares as of the trading day immediately preceding
the delivery or deemed delivery of the applicable Conversion Notice, (iii) 85% of the VWAP of the ordinary shares as of the trading day
of the delivery or deemed delivery of the applicable Conversion Notice and (iv) 85% of the price computed as the quotient of (I) the
sum of the VWAP of the ordinary shares for each of the three trading days with the lowest VWAP of the ordinary shares during the 20 consecutive
trading day period ending and including the trading day immediately preceding the delivery or deemed delivery of the applicable Conversion
Notice, divided by three.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
assets and the assets of certain of our subsidiaries have been pledged as security for our obligations under the Convertible Note, and
our default with respect to those obligations could result in the transfer of our assets to our creditor. Such a transfer could have
a material adverse effect on our business, capital, financial condition, results of operations, cash flows and prospects.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
convertible note is a senior secured obligation of the Company secured by a lien on all assets of the Company and certain of our subsidiaries.
In the event of a default by the Company with respect to its obligations under the Convertible Note, we or our subsidiaries may be obligated
to transfer some of our assets to our creditor. Such a transfer could have a material adverse effect on our business, capital, financial
condition, results of operations, cash flows and prospects.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
have broad discretion over the use of proceeds we received in our IPO and from the sale of the convertible note and may not apply the
proceeds in ways that increase the value of your investment.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management has broad discretion in the application of the net proceeds from our recent IPO and from the sale of the convertible note,
as a result, you will have to rely upon the judgment of our management with respect to the use of these proceeds. Our management may
spend a portion or all of the net proceeds in ways that not all shareholders approve of or that may not yield a favorable return. The
failure by our management to apply these funds effectively could harm our business.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>A
significant portion of our total outstanding shares may be sold into the public market in the near future, which could cause the market
price of our ordinary shares to drop significantly, even if our business is doing well.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
price of our ordinary shares could decline if there are substantial sales of our ordinary shares, particularly sales by our directors,
executive officers and significant shareholders, or if there is a large number of shares of our ordinary shares available for sale. All
of the ordinary shares sold in our IPO are currently available for sale in the public market. Substantially all of our remaining outstanding
ordinary shares are currently restricted from resale as a result of market standoff and &#8220;lock-up&#8221; agreements.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price of our ordinary shares could decline as a result of the sale of a substantial number of ordinary shares in the public market
or the perception in the market that the holders of a large number of shares intend to sell their shares.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
shareholders will experience significant dilution as a result of any conversion of the convertible note.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result of the conversion of the Convertible Note, our shareholders will experience significant dilution. In addition, if we elect to
pay monthly installment payments under the Convertible Note in our ordinary shares, we may be required to issue a substantial number
of shares to the holder of the Convertible Note. The Convertible Note is convertible, at the holder&#8217;s option, into our ordinary
shares, initially at a fixed conversion price of $5.17, subject to adjustment for stock dividends, stock splits, anti-dilution and other
customary adjustment events (without taking into account the limitations on the conversion of the Convertible Note as described elsewhere
in this prospectus). The number of ordinary shares to be issued may be substantially greater, if the Convertible Note is converted into
ordinary shares following and during the continuation of an Event of Default (as defined in the Convertible Note) at the alternate conversion
price as described elsewhere in this prospectus. In such cases, the number of shares issued will be based on the lowest conversion price
in accordance with a formula determined based upon 85% of the volume weighted average of the market price of our ordinary shares during
certain measuring periods. We cannot predict the market price of our ordinary shares at any future date, and therefore, we are unable
to accurately forecast or predict the total amount of shares that ultimately may be issued under the Convertible Note. The Convertible
Note likely will be converted only at times when it is economically beneficially for the holder to do so, and we are entitled to pay
interest in shares and make installment conversions only at a price per share that is at a discount to the then current market price.
In any event, the issuance of these shares will dilute our other equity holders, which could cause the price of our ordinary shares to
decline.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
securities or industry analysts do not publish or cease publishing research or reports about us, our business, or our market, or if they
change their recommendations regarding our ordinary shares adversely, our share price and/or trading volume could decline.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
trading market for our ordinary shares will be influenced by the research and reports that industry or securities analysts may publish
about us, our business, our market or our competitors. Securities and industry analysts do not currently, and may never, publish research
on us. If no securities or industry analysts commence coverage of our Company, our share price and trading volume would likely be negatively
impacted. If any of the analysts who may cover us adversely change their recommendation regarding our shares, or provide more favorable
relative recommendations about our competitors, our share price would likely decline. If any of the analysts who may cover us were to
cease coverage or fail to regularly publish reports on us, we could lose visibility in the financial markets, which in turn could cause
our share price or trading volume to decline.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may not pay dividends on our ordinary shares in the future and, consequently, your ability to achieve a return on your investment will
depend on appreciation in the price of our ordinary shares.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not currently expect to pay cash dividends on our ordinary shares. Any future dividend payments are within the absolute discretion
of our Board and will depend on, among other things, our results of operations, working capital requirements, capital expenditure requirements,
financial condition, level of indebtedness, contractual restrictions with respect to payment of dividends, business opportunities, anticipated
cash needs, provisions of applicable law and other factors that our Board may deem relevant. Consequently, your ability to achieve a
return on your investment will depend on appreciation in the price of our ordinary shares.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
currently report our financial results under IFRS, which differs in certain significant respects from U.S. GAAP.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently
we report our financial statements under IFRS. There have been and there may in the future be certain significant differences between
IFRS and U.S. GAAP, including differences related to revenue recognition, share-based compensation expense, income tax and earnings per
share. As a result, our financial information and reported earnings for historical or future periods could be significantly different
if they were prepared in accordance with U.S. GAAP. In addition, we do not intend to provide a reconciliation between IFRS and U.S. GAAP
unless it is required under applicable law. As a result, you may not be able to meaningfully compare our financial statements under IFRS
with those companies that prepare financial statements under U.S. GAAP.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are an emerging growth company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure
requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more
difficult to compare our performance with other public companies.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &#8220;emerging growth company&#8221; within the meaning of the Securities Act, as modified by the JOBS Act, and we may take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth
companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and
exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden
parachute payments not previously approved. As a result, our shareholders may not have access to certain information they may deem important.
We could be an emerging growth company for up to five years, although circumstances could cause us to lose that status earlier, including
if the market value of our ordinary shares held by non-affiliates exceeds $700 million as of any December 31 before that time, in which
case we would no longer be an emerging growth company as of the following December 31. We cannot predict whether investors will find
our securities less attractive because we will rely on these exemptions. If some investors find our securities less attractive as a result
of our reliance on these exemptions, the trading prices of our securities may be lower than they otherwise would be, there may be a less
active trading market for our securities and the trading prices of our securities may be more volatile.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to
non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such extended transition
period, which means that when a standard is issued or revised and it has different application dates for public or private companies,
we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.
This may make comparison of our financial statements with another public company which is neither an emerging growth company nor an emerging
growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences
in accountant standards used.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a public company, we incur significant legal, accounting, and other expenses that we did not incur as a private company. For example,
we are subject to the reporting requirements of the Exchange Act and are required to comply with the applicable requirements of the Sarbanes-Oxley
Act and the Dodd-Frank Act, as well as rules and regulations subsequently implemented by the SEC, NYSE American and Upstream including
the establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices. Compliance
with these requirements increases our legal and financial compliance costs and makes some activities more time consuming and costly.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Exchange Act requires, among other things, that we file annual and current reports with respect to our business and results of operations.
We incur significant expenses and devote substantial management effort toward ensuring compliance with the auditor attestation requirements
of Section 404 of the Sarbanes- Oxley Act, which will increase when we are no longer an &#8220;emerging growth company,&#8221; as defined
by the JOBS Act. We will need to hire additional accounting and financial staff with appropriate public company experience and technical
accounting knowledge. We cannot predict or estimate the amount of additional costs we may incur as a result of becoming a public company
or the timing of such costs. As a result, management&#8217;s attention may be diverted from other business concerns, which could adversely
affect our business and results of operations.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, changing laws, regulations and standards relating to corporate governance and public disclosure are creating uncertainty for
public companies, increasing legal and financial compliance costs and making some activities more time consuming. These laws, regulations
and standards are subject to varying interpretations, in many cases due to their lack of specificity, and as a result, their application
in practice may evolve over time as regulatory and governing bodies provide new guidance. These factors could result in continuing uncertainty
regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. We will continue
to invest resources to comply with evolving laws, regulations and standards, and this investment may result in increased general and
administrative expenses and a diversion of management&#8217;s time and attention from revenue-generating activities to compliance activities.
If our efforts to comply with new laws, regulations and standards differ from the activities intended by regulatory or governing bodies
due to ambiguities related to their application and practice, regulatory authorities may initiate legal proceedings against us, and our
business could be adversely affected.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result of disclosure of information as a public company, our business and financial condition have become more visible, which may result
in threatened or actual litigation, including by competitors and other third parties. If the claims are successful, our business operations
and financial results could be adversely affected, and even if the claims do not result in litigation or are resolved in our favor, these
claims, and the time and resources necessary to resolve them, could divert the resources of our management and adversely affect our business
operations and financial results. These factors could also make it more difficult for us to attract and retain qualified colleagues,
executive officers and Board members.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
as a public company makes it more difficult and more expensive for us to obtain director and officer liability insurance on the terms
that we would like. As a result, it may be more difficult for us to attract and retain qualified people to serve on our Board, our Board
committees or as executive officers.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we fail to maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately
report our financial condition, results of operations or cash flows, which may adversely affect investor confidence.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Sarbanes-Oxley Act requires, among other things, that we maintain effective internal control over financial reporting and disclosure
controls and procedures. We are required, under SOX 404, to perform system and process evaluations and testing of internal controls over
financial reporting to allow management to report annually on the effectiveness of internal control over financial reporting. This assessment
requires disclosure of any material weaknesses in our internal control over financial reporting identified by management. SOX 404 also
generally requires an attestation from our independent registered public accounting firm on the effectiveness of internal control over
financial reporting. However, as long as we remain an emerging growth company (&#8220;EGC&#8221;), we intend to take advantage of the
exemption permitting it not to comply with the independent registered public accounting firm attestation requirement.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the time when we are no longer an EGC, our independent registered public accounting firm may issue a report that is adverse in the event
it is not satisfied with the level at which we control are documented, designed or operating. Remediation efforts may not enable us to
avoid a material weakness in the future.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance
with SOX 404 requires the incurrence of substantial accounting expense and consumes significant management efforts. We may not be able
to complete evaluation, testing and any required remediation in a timely fashion. During the evaluation and testing process, if we identify
one or more material weaknesses in internal control over financial reporting, we will be unable to assert that our internal control over
financial reporting is effective. We cannot assure you that there will not be material weaknesses or significant deficiencies in our
internal control over financial reporting in the future. Any failure to maintain internal control over financial reporting could severely
inhibit its ability to accurately report financial condition, results of operations or cash flows. If we are unable to conclude that
internal control over financial reporting is effective, or if our independent registered public accounting firm determines we have a
material weakness or significant deficiency in internal control over financial reporting, it could lose investor confidence in the accuracy
and completeness of our financial reports, the market price of our ordinary shares could decline, and we could be subject to sanctions
or investigations by the NYSE American, Upstream, the SEC or other regulatory authorities. Failure to remedy any material weakness in
internal control over financial reporting, or to implement or maintain other effective control systems required of public companies,
could also restrict future access to the capital markets.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we are not able to comply with the applicable continued listing requirements or standards of the NYSE American and Upstream, the NYSE
American and/or Upstream could delist our ordinary shares.</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ordinary shares are listed on the NYSE American and Upstream. In order to maintain that listing, we must satisfy minimum financial and
other continued listing requirements and standards, including those regarding director independence and independent committee requirements,
minimum shareholders&#8217; equity, minimum share price, and certain corporate governance requirements. There can be no assurances that
we will be able to comply with the applicable listing standards. If the NYSE American or Upstream were to delist our ordinary shares,
it would be more difficult for our shareholders to dispose of our ordinary shares and more difficult to obtain accurate price quotations
on our ordinary shares. Our ability to issue additional securities for financing or other purposes, or otherwise to arrange for any financing
we may need in the future, may also be materially and adversely affected if our ordinary shares are not listed on a national securities
exchange.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are dual listed on NYSE American and Upstream and there may sometimes be share price differences between the two exchanges</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are dual listed on the NYSE American and Upstream. Generally, the price of a dual-listed security is the same (adjusting for currency
differences) on both exchanges where it is listed. However our share price may at times differ between the two exchanges.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>U.S.
investors currently permitted to trade (buy, sell or deposit) Upstream listed securities only via intermediate US broker</i></b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
follow current regulations, Upstream has currently allow U.S. based investors, including U.S. citizens and permanent residents
living abroad, to buy, deposit or sell securities they currently own on the Upstream exchange. Only via intermediate brokerage firm
, Boustead Security . U.S. investors may continue to open accounts for NFT (non-securities) transactions where they are able to buy
and sell NFTs. Opening an account via 3<sup>rd</sup> party borker deler may extend and complicate the trading process of US
investors . </span></p>

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


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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span id="a_7"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
4. Information on the Company</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="a_8"></span>A.
History and development of the Company.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we are a world leading entrepreneur Edtech and education group based on student numbers with a student base of 3.1 million
on GeniusU at the end of 2022. Our mission is to disrupt the current education model with a student-centered, lifelong learning curriculum
that prepares students with the leadership, entrepreneurial and life skills to succeed in today&#8217;s market.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
help achieve our mission, we have completed an IPO on NYSE American, on April 14, 2022 and then dual listed the company on Upstream on
6 April 2023. We have also raised follow on Convertible Note in September 2022. We grew from a Pre-IPO Group of four companies to a post
IPO Group of nine companies, once the five Acquisitions closed.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Pre-IPO Group includes our holding company, Genius Group Ltd, our Edtech platform, GeniusU Ltd, and two companies that were acquired:
Entrepreneurs Institute in 2019 and Entrepreneur Resorts in 2020.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally
mainly via our GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills. Our partners and community
are global with an average of 8,500 new students joining our GeniusU platform each week in 2022. Our City Leaders have been conducting
our events (physically or virtually) in over 100 cities and over 2,500+ faculty members have been operating their microschools using
our online tools.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are now expanding our education system to age groups beyond our adult audience, to children and young adults. The five Acquisitions are
our first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from 0-5 years
old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational
certifications and university degrees in California, USA; Property Investors Network, which provides property investment courses and
events in England, UK; and Revealed Films, a media production company that specializes in multi-part documentaries.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
plan is to combine their education programs with our current education programs and Edtech platform as part of one lifelong learning
system, and we have selected these acquisitions because they already share aspects of our Genius Curriculum and our focus on entrepreneur
education.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
five Acquisitions have added $18.6 million in revenue to the Group in the year ended December 31, 2022, which represents 66% of the $28.1
million pro forma Group revenue during this period, while the Pre-IPO Group generated $9.5 million.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
coming years, we plan to continue the growth of our Group through a combination of organic growth of our Edtech platform together with
the acquisition of various education companies that we believe provide complementary programs that can be added to our Genius Curriculum.
This Annual Report provides details of both our acquisition strategy together with our plans to integrate these Acquisitions together
with future acquisitions into our Edtech platform, &#8220;entrepreneur education&#8221; vision, Genius Curriculum and &#8220;freemium&#8221;
student and partner conversion models.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
define &#8220;entrepreneur education&#8221; as personalized discovery-based learning that leads to higher levels of self-awareness, self-mastery
and self-expression. We believe this in turn develops leadership and entrepreneurial skills through which students can independently
create value and &#8220;create a job&#8221; rather than being dependent on a system in which they need to &#8220;get a job&#8221;. We
believe these skills can be nurtured from an early age.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also believe these skills can be learned at any age, enabling adults to reskill and upskill themselves. We describe our Genius Curriculum,
together with the philosophy, principles, learning methodology, course content and delivery of our curriculum in the &#8220;Our Genius
Curriculum&#8221; section below.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="form20-f_001.jpg" alt="" />&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="form20-f_003.jpg" alt="" /></span></p>

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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe one of the industry&#8217;s most in need of disruption and upgrading is the global education and training industry, which education
market intelligence firm HolonIQ forecasts to grow to $10 trillion in size by 2030. The 2020 World Economic Forum &#8220;Schools of the
Future&#8221; report highlights the urgent need for a more relevant curriculum to prepare students and adults for the future. We believe
that the COVID-19 crisis has put an additional spotlight on the urgent need for an updated education system that is both high-tech and
high-touch.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have built our Pre-IPO Group of entrepreneur education companies to date through organic growth and acquisitions, with a focus on adding
value to each company through GeniusU, which we are developing to provide AI-driven personal recommendations and guidance for each student.
Our growth has been internally funded from our entrepreneur community. Our IPO and the Convertible Note Raise was part of our plan in
providing liquidity and a market to our existing and future shareholders, while providing funds to support our growth plan.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
our Edtech platform, GeniusU, we are developing our Genie AI virtual assistant to give each student a personalized learning path at every
stage of their education, with an intention for this to be delivered at every age from early age to 100 years old.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently,
our system begins by identifying the preferences and level of each of our adult students, who can then connect with other students, mentors
and faculty members based on their talents, passions and driving purpose. Students and mentors then progress through challenge-based
microschools, with credits and digital points able to be earned. GeniusU includes personal profiles for students to present themselves,
dashboards to measure progress, their learning and earning metrics, communication circles to connect with other students and mentors,
and a full range of continually upgraded learning modalities and assessment tools to suit each student, delivered by a combination of
global and local faculty.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
our planned integration of additional age groups, beginning with our five Acquisitions, we now plan to extend our offering within our
system so that early age to 5 year old students can learn their natural way to learn and play, 6 to 12 year old students can build their
life leadership and entrepreneurial skills, 13 to 21 year old students can learn how to start their business, join our global mentorship
program with a small business or learn key vocational skills in our camps and competitions, and the over 21 year old students take our
courses and receive mentorship for every level of business from startup to large corporations seeking an entrepreneurial edge.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are developing this curriculum as a supplement to the existing education system, and in time we aspire to create a fully accredited replacement
to the traditional U.S. school and university pathway.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have grown and will continue to grow through a combination of organic growth and acquisitions. Our organic growth is a result of attracting
our students to the courses on our Edtech platform, and attracting partners and faculty who market and deliver the courses. These courses
include our own wholly owned curriculum together with courses that our partners and faculty add to our curriculum.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also partnered and intend to continue to partner with and, where appropriate, acquire companies that have courses, faculty and communities
that we believe provide a valuable addition to our Group. We plan to add their courses to GeniusU, providing a full lifelong learning
pathway that can be accessed by our community globally, with the direction of our Genie AI and with the support of our global and local
faculty. We plan to continue this strategy of acquiring companies and then adding value to them by combining them in one Edtech platform
and curriculum, which to date has enabled us to maintain 50%+ year-on-year growth (on non-preforms basis)</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, overall partnership revenues contribute 16% towards the revenue of the Education company, with the remaining 84%
of revenue from our fully owned courses and curriculum. We have seen an increase in partners globally year on year and our partner growth
in 2022 was 24% from 2021. As of the date of this Annual Report, we have over 1,400 events, courses and products listed on our digital
platform; partners earn commissions as a result of sales processed through our platform. Due to the number of faculty and partners, together
with the number of courses and products delivered on our platform, there is no one partner or product that makes up more than 5% of our
revenues.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are following a fifteen-year growth plan:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
phase one, from 2015 to 2020, our focus has been attracting adult entrepreneurs to use our entrepreneur education tools and proving our
Edtech business model in countries around the world. The result of this phase is the Pre-IPO Group presented in this Annual Report. In
phase two, from 2020 to 2025, our goal is to integrate our education tools into the existing education system through licenses, partnerships
and acquisitions, with our aspiration for our entrepreneur education programs and Edtech platform becoming the programs and platform
of choice by schools, colleges, universities and companies in our target markets. The IPO and the Acquisitions are the first steps in
this phase.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
phase three, from 2025 to 2030, our goal is to have developed a full curriculum accredited and receiving funding from government bodies
in the U.S., the U.K., Europe, Asia and Australasia and seen as a viable alternative by students, parents, partner schools and companies
around the world to the existing education options.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">History
and Corporate Structure</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
origins of Genius Group began in 2002 when Singapore-based entrepreneur, Roger James Hamilton created the Wealth Dynamics system as a
personality profiling tool for entrepreneurs to discover their strengths and weaknesses, and build an entrepreneurial team. Over the
next decade the popularity of the tool led to Roger growing Wealth Dynamics into a global company with country licenses around the world
and a community of over 250,000 entrepreneurs by 2012.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
the global financial crisis that commenced in 2008 it became clear to Roger Hamilton, our Chief Executive Officer, and the senior management
team of Wealth Dynamics that the number of entrepreneurs and small business owners around the world was growing dramatically and in need
of a training system to reduce the number of business failures. According to data from the U.S. Bureau of Labor Statistics, about 20%
of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered. After 10 years, only
around a third of businesses have survived.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>From
2012 to 2015</b>, Genius Group developed a number of initiatives under the Entrepreneurs Institute brand. This included the Global Entrepreneur
Summit and Entrepreneur Fast Track Event series, which we believe is now the largest entrepreneur seminar series hosted in 18 countries
annually. It also included Talent Dynamics, a corporate version of Wealth Dynamics used by large multinationals, and a full entrepreneur
system to grow from startup to the first million dollars in revenue called &#8220;The Millionaire Masterplan&#8221; which became a <i>New
York Times </i>bestselling book in 2014.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
this period, Roger Hamilton also became the founding Chairman of the Green School in Bali. The Green School attracted global attention
as a new model of schooling with its environmental and student- centered approach to learning. It won the inaugural &#8220;Greenest School
in the World&#8221; award from the Center for Green Schools at the U.S. Green Building Council, and became a global case study for new
models of schooling. It is used as the first example of 21<sup>st</sup> century schooling in the World Economic Forum&#8217;s 2020 white
paper on The Future of Schools. The need for an education revolution based on a global, scalable high-tech, high-touch model led to the
launch of GeniusU as an Edtech solution in 2015.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>From
2015 to 2017</b>, GeniusU grew rapidly from 313,000 students in the first year to 736,000 students by the third year. During this time,
Entrepreneurs Institute had continued to grow and a third company under Roger Hamilton&#8217;s majority ownership, Entrepreneur Resorts
Limited, had been established to expand on the successful and profitable model of providing entrepreneur retreats and co-working spaces
in paradise. In August 2017, Entrepreneur Resorts consummated its initial public offering on the Seychelles TropX stock exchange, now
the MERJ stock exchange, raising $3 million and acquiring Tau Game Lodge, a South African Safari Lodge to add to Entrepreneur Resorts&#8217;
property portfolio. The portfolio at that time also included Vision Villas, a Bali-based entrepreneur resort and Genius Cafe, a Bali-based
entrepreneur beach club.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>At
the end of 2018</b>, the one company in the Group was GeniusU Pte Ltd, which changed its name to Genius Group Ltd. This was in its third
full year of operation as an Edtech company. Genius Group Ltd had grown in its first three years to 1.2 million students with revenues
of $4.8 million and net loss of $0.5 million in 2018. Total assets at the end of 2018 were $1.7 million, total liabilities were $2.1
million and total shareholders&#8217; deficit was $(0.4) million.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>At
the end of 2019</b>, Genius Group had grown to include Genius Group Ltd, GeniusU Ltd and Entrepreneurs Institute, with GeniusU Ltd formed
as the new Edtech company and Entrepreneurs Institute acquired as part of the Group. Combined revenues in 2019 of the Pre-IPO Group,
which includes Entrepreneur Resorts, acquired in July 2020, were $9.9 million, net loss before tax was $(1.1) million after eliminations
and Adjusted EBITDA was $1.2 million. Total assets at the end of 2019 were $17.6 million, total liabilities were $12.2 million and total
shareholders&#8217; equity was $5.3 million. Our revenue growth from $4.8 million in 2018 to $9.9 million in 2019, represents a 106%
year-on-year increase, with 15% organic growth and 91% growth from acquisition. These four companies make up the Pre-IPO Group, and audited
financials of this Pre-IPO Group are provided below for both 2019 and 2020 as they were under common control prior to the acquisitions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>At
the end of 2020</b>, Genius Group had entered into agreements to secure the four Acquisitions: Education Angels, E-Square, Property Investors
Network and University of Antelope Valley. All the four acquisitions closed after the IPO in 2022. and therefore all four are currently
part of our consolidated audited results for the period after acquisition to the year end. We have provided pro forma accounts in this
filing that include both the Pre-IPO Group and the five Acquisitions for 2022 for the full year.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2020, during the pandemic, the Pre-IPO Group saw an 11% growth in its digital education revenue, 2% growth in its total education revenue.
During the year Entrepreneur Resorts had a 55% revenue decline as it closed its locations in Singapore, South Africa and Bali, Indonesia,
resulting in $7.6 million in revenue, $3.5 million in gross profit, ($3.1) million in net loss and $(0.1) million in Adjusted EBITDA
for the Pre-IPO Group in 2020.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
revenue decreased from $9.9 million in 2019 to $7.6 million in 2020, a reduction of 23%. This was largely due to the effect of the COVID-19
pandemic on Entrepreneur Resorts, as discussed elsewhere in this Annual Report.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>At
the end of 2021</b>, we continued to grow the Group without completing any new acquisitions. Based on pro forma financials and including
four acquisitions, combined revenues in the fiscal year ended December 31, 2021 were $24.1 million, with $12.7 million in gross profit,
($4.3) million in operating loss, ($4.7) million in net loss and $0.3 million in Adjusted EBITDA.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
$24.1 million in pro forma revenue was the combination of $8.3 million in revenue from the Pre-IPO Group, and $15.8 million in pro forma
revenue from the Acquisitions. This further breaks down to the following revenue from each Acquisition: University of Antelope Valley,
$9.0 million revenue (38% of total), with a further $1.1 million of other income from government grants not included in this total; Property
Investors Network, $5.1 million revenue (21% of total); Education Angels, $0.9 million revenue (4% of total); and E-Square, $0.7 million
(3% of total).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
two main revenue segments of the Pre-IPO Group are made up of education revenue and campus revenue.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
education revenue is the combined revenue of Genius Group Ltd, GeniusU Ltd and Entrepreneurs Institute. This decreased from $5.6 million
in 2020 to $5.2 million in the fiscal year ended December 31, 2021.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
campus revenue is the revenue of Entrepreneur Resorts Ltd. This increased from $2.0 million in 2020 to $3.1 million in the fiscal year
ended December 31, 2021 as our campus venues began to reopen in line with easing of pandemic restrictions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>At
the end of 2022</b>, we continued to grow the Group and acquired US based film production company Revealed Films in October 2022. Also,
we closed the remaining four Acquisitions that were contingent to our IPO. Based on pro forma financials and including the five acquisitions,
combined revenues in the fiscal year ended December 31, 2022 were $28.1 million, with $14.8 million in gross profit, ($41.9) million in operating loss, ($56.0) million in net
loss before tax and ($7.3) million in Adjusted EBITDA.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
$28.1 million in pro forma revenue was the combination of $9.5 million in revenue from the Pre-IPO Group, and $18.6 million in revenue
from the Acquisitions. </span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
two main revenue segments of the Group are made up of education revenue and campus revenue.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
education revenue on the audited financials grew from $5.2 million in 2021 to $13.6 million in the fiscal year ended December 31, 2022.</span></p>

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
campus revenue is the revenue of Entrepreneur Resorts Ltd. This increased from $3.1 million in 2021 to $4.6 million in the fiscal year
ended December 31, 2022 as our campus venues began to reopen in line with easing of pandemic restrictions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
combined with the revenue of the Acquisitions, of which 100% is education revenue, our pro forma education revenue for the Group was
$23.5 million in 2022 and our campus revenue for the Group was $4.6 million in 2022.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
use Adjusted EBITDA, a non-IFRS measure, in various places in this Annual Report, as described in the &#8220;Non-IFRS Financial Measures
&#8212; Adjusted EBITDA&#8221; section above.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span id="Z_001"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>B.
Business Overview</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
mission is to develop an entrepreneur education system that prepares students for the 21<sup>st</sup> century. We believe that the current
global education system is in need of a more relevant, upgraded, student-centered curriculum that is both high-tech and high-touch. We
believe that such a curriculum can be a force for good. As Nelson Mandela said, &#8220;Education is the most powerful weapon which you
can use to change the world.&#8221;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Today,
we believe that it is the entrepreneurs of the world who have the greatest power to trigger change. We see Genius Group as the global
community where the entrepreneur movement meets.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
students </b>who may struggle with the current test-focused, classroom-based, one-size-fits-all system most common in current schooling,
our mission is to provide the option of a personalized, passion-focused, purpose-based, flexible system that enables them to design a
life that enables them to ignite their own genius, and where earning and learning become a lifelong activity.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
parents </b>who we believe feel trapped in a system where they are limited in flexibility of location, teachers, subjects and standards,
our mission is to provide a truly global system that can be accessed online, anytime, with their choice of location, teachers, mentors,
subjects and pathways that best suit their children, their family and their personal circumstances, while connecting to the recognized
accreditations for their children to succeed.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
teachers </b>who we believe feel underappreciated and underpaid, our mission is to provide a global platform that recognizes and rewards
thought leaders for the best content, courses, microschools and microdegrees, enabling the best coursework to grow globally.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
schools and colleges </b>that are under-resourced and struggle to keep up with the increasing demands of changing global economics and
an uncertain future of work, our mission is to provide a cutting-edge curriculum to enable them to prepare their students effectively
to get jobs and create jobs as well as learn key life skills in partnership with our global community.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
companies </b>that have a challenge in finding students that have the adequate leadership and technical skills to be employable, our
mission is to provide company-sponsored programs that ensure a ready stream of employable students and leaders, operating globally and
constantly upgraded to the needs of the times.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
governments </b>that are under pressure to deliver an effective education with employable students with various limitations on how rapidly
they can innovate within the existing system, especially given the current state of the education system due to the COVID-19 pandemic,
our mission is to provide a viable alternative to the current system in partnership with the leading education institutions, business
leaders and organizations seeking to solve the same issues.</span></p>

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

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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
direct response to the many challenges of the current education system, we are designing a comprehensive curriculum that fosters lifelong
personal and professional learning. By initially creating an adult-based curriculum to supplement existing education, we are laying the
groundwork for an ambitious, fully accredited alternative to the traditional U.S. school and university pathways. Our aim is to offer
a progressive entrepreneurial education from primary, secondary, university, vocational, and ongoing education.</span></p>

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

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

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

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Entrepreneur Education Vision</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
define &#8220;entrepreneur education&#8221; as a personalized, discovery-based learning experience that cultivates greater self-awareness,
self-mastery, and self-expression. By developing leadership and entrepreneurial skills, students are empowered to independently create
value and &#8220;create a job&#8221; rather than relying on a system in which they must &#8220;get a job.&#8221; We believe these skills
and competencies can be nurtured from an early age and can be acquired at any stage in life, allowing adults to reskill and upskill as
needed.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
our vision of a global education system rooted in our entrepreneurial philosophy, we are committed to delivering personalized, discovery-based
learning at all ages. Our Pre-IPO Group companies and acquisitions share this vision and have been working diligently to realize it.
In the following sections, we explore the commonalities and differences among these companies and provide a detailed overview of our
groundbreaking Genius Curriculum.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Genius Curriculum is an innovative blend of our Entrepreneurial Education Vision, 8 &#8220;Education 4.0&#8221; Pillars, Genius Learning
Methodology, 10 Genius Principles, C.L.E.A.R. Philosophy, and a diverse range of Courses, Products, and Services. Each of our Pre-IPO
Group companies and acquisitions incorporates specific aspects of these elements, with plans to integrate further components as we unify
their education systems within the Genius Curriculum. The subsequent sections elaborate on each element, along with our integration plans
for each company.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
8 &#8220;Education 4.0&#8221; Pillars</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
recognize that individuals, from students to employees, freelancers, and startup founders, seek to learn how to be entrepreneurial and
&#8220;create a job&#8221; instead of needing to &#8220;get a job.&#8221; The current education system and online courses often fail
to provide a reliable, recognized curriculum to support this goal. The World Economic Forum&#8217;s white paper on the need for a 21st-century
education system, published in January 2020, highlights this problem.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
report identifies eight crucial characteristics of learning content and experiences that define high-quality learning in the Fourth Industrial
Revolution, known as &#8220;Education 4.0.&#8221; These eight pillars also form the foundation of our entrepreneurial education curriculum:</span></p>

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

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global
    citizenship skills: Focus on building awareness about the wider world, sustainability, and active participation in the global community.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Innovation
    and creativity skills: Foster skills required for innovation, including complex problem-solving, analytical thinking, creativity,
    and systems analysis.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology
    skills: Develop digital skills, including programming, digital responsibility, and the effective use of technology.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interpersonal
    skills: Enhance interpersonal emotional intelligence, including empathy, cooperation, negotiation, leadership, and social awareness.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Personalized
    and self-paced learning: Transition from standardized learning to a system tailored to each learner&#8217;s unique needs, allowing
    for individual progression at their own pace.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accessible
    and inclusive learning: Ensure learning is available to everyone, moving from confined access to school buildings to a universally
    inclusive system.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Problem-based
    and collaborative learning: Shift from process-based to project- and problem-based content delivery, emphasizing peer collaboration
    and better reflecting the future of work.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lifelong
    and student-driven learning: Transition from a system with diminishing learning and skills to one where everyone continuously improves
    existing skills and acquires new ones based on individual needs.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;</p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Green School in Bali, where Genius Group Ltd&#8217;s Founder and CEO, Roger James Hamilton, served as the founding Chairman of the Board,
was the first school recognized by the World Economic Forum as practicing these eight characteristics. The Genius Curriculum has since
evolved, differentiating itself from traditional schooling through its student-based and personalized approach, 21st-century leadership
skills focus, collaborative environment, challenge-based structure, accelerated learning, global flexibility, tech-based content, and
multiple mentors per challenge.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
over 3.1 million students across 20,345 cities utilizing the curriculum in various settings, Genius Group delivers a comprehensive entrepreneurial
education system in high demand. The curriculum is adopted by leading companies and schools worldwide, with campuses ranging from schools
to colleges, resorts, and co-working offices. Our Edtech platform, GeniusU, hosts over 500 local and online events and microdegrees.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Genius Learning Methodology</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
learning methodologies are based on &#8220;Pedagogy,&#8221; our Genius Learning Methodology is rooted in &#8220;Andragogy.&#8221; This
distinction is essential, as our acquisitions share a similar learning methodology or possess the potential to adopt it based on our
post-acquisition growth plans. The definitions of these terms are:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pedagogy:
Derived from the Greek words paid (child) and ago (guide), this term refers to the science and practice of teaching and guiding a child
to achieve specific outcomes in their education.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andragogy:
Derived from the Greek words andras (man) and ago (guide), this term refers to the science and practice of how adults (and children)
develop self-directed learning to guide their own development.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andragogy
is a common practice for both children and adults when learning computer games, new internet applications, sports, musical instruments,
languages, or entrepreneurial skills through &#8220;learning by doing.&#8221; Our Genius Learning Methodology is based on ten Genius
Principles</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe we are attracting and retaining the level of students and partners because they see high value as much from how they are learning
as what they are learning. Our Acquisitions are also practicing some of these principles to varying degrees. Following the completion
of our acquisitions, we plan to enhance the student experience in each of our Acquisitions by introducing these principles into these
companies. Below is a brief explanation of each of these ten principles.</span></p>

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


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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_001.jpg" alt="" /></span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
10 Genius Principles</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Personalized
    Learning: </b>Our curriculum is designed to ignite each student&#8217;s unique genius by tailoring it to their individual talents,
    passions, and purpose. GeniusU utilizes an AI-powered &#8220;Genie&#8221; to serve as a personal mentor, guiding students towards
    the most suitable courses, mentors, and opportunities for their personal journey. Assessments, such as the Genius Test and Passion
    Test, provide insights for personalized recommendations.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Challenge
    Based Courses: </b>To increase engagement, our courses incorporate gamification, with rewards and prizes for competition. All live
    education on GeniusU features a challenge component, fostering an environment where students learn from each other&#8217;s submissions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Impact
    Focused Learning: </b>Our courses are purpose-driven, with students defining their future vision early in their chosen pathway. Aligning
    learning with global citizenship and personal purpose allows students to easily connect with mentors and opportunities that match
    their objectives.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Positive
    Credit System: </b>Students earn digital credits called GEMs (Genius Entrepreneur Merits) for actions taken during their learning
    journey. These GEMs can be redeemed for discounts on further education, increasing student engagement and community contributions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Global
    Classroom: </b>We foster engagement by connecting students and faculty from various countries in a single learning environment. A
    combination of video tuition, global mentors, local hosts, and individual mentors creates an enriching, diverse educational experience.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leading
    Learners: </b>GeniusU incorporates a rating and recognition system to showcase top students, mentors, and courses. This community-led
    approach helps keep our education system relevant and up-to-date in rapidly changing times.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Decentralized
    System: </b>Our growth is driven by the interests of our students and the energy of our partners, resulting in a continuously evolving
    Genius Curriculum. This approach rewards the most innovative partners and faculty for introducing successful new courses and products.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inclusive
    Entry:</b> By offering free entry-level courses on GeniusU, we provide inclusive access to education for all. Students can progress
    to higher level programs by achieving minimum proficiency levels with the support of mentors when needed.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life
    and Leadership Skills:</b> In addition to academic skills, our curriculum emphasizes life and leadership skills, such as entrepreneurship,
    financial literacy, communication, and technology. We plan to introduce these skills in our Acquisitions to further enrich their
    educational offerings.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lifelong
    Learning:</b> We encourage students to embark on a lifelong learning journey with Genius Group, providing access to a structured
    pathway for continuous growth. This fosters long-term relationships with students and supports their ongoing personal and professional
    development.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
C.L.E.A.R. Philosophy</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
important additional element in our learning methodology is our &#8220;C.L.E.A.R. Philosophy&#8221;. This is in reference to how we have
designed GeniusU and Genie to focus on five daily actions that we recommend students to take. These five actions and sections within
GeniusU are Connect, Learn, Earn, Act and Review, and they form the acronym C.L.E.A.R.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<img src="pg51-110_002.jpg" alt="" /></span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Students
earn GEMs by engaging in each of the five areas of our &#8220;C.L.E.A.R. Philosophy,&#8221; and our partners and faculty utilize these
areas to create customized circles, courses, and products on GeniusU. Upon completion of the Acquisitions, we will integrate our &#8220;C.L.E.A.R.
Philosophy&#8221; and structure with the acquired entities, merging our learning methodology with the content being taught.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that mastering these five areas is crucial for self-directed learning, as it offers the necessary framework for relevant and
contextual learning often missing in traditional education:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONNECT:
    </b>We encourage students to connect with mentors, peers, and communities aligned with their passions and purpose. GeniusU courses
    and products feature circles, which are online groups with discussions, course access, and knowledge libraries for student support.
    Genie recommends daily connection actions, while students can explore the Connect Page for suitable circles, students, mentors, and
    companies.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LEARN:
    </b>Once connected, students should engage in learning within their circles or with selected partners or mentors. Genie suggests
    daily learning actions based on ongoing or new courses, and students can browse the Learn Page for assessments, courses, events,
    and articles.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EARN:
    </b>We recommend students earn GEMs or financial rewards using their expanded network and knowledge. This could involve writing reviews,
    networking, or sharing insights. Students can also explore the Earn Page for employment opportunities, partnerships, memberships,
    and certifications.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ACT:
    </b>Students should apply their learning in real-world situations. GeniusU serves as an active ecosystem where leaders, entrepreneurs,
    and business owners seek talent, partners, or investors. Genie recommends actions based on individual students, and they can explore
    the Act Page for joint venture or investment opportunities and challenges to join.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REVIEW:
    </b>Finally, students should assess the outcomes of the previous four steps, embodying our philosophy of learning by doing, with
    continuous testing, measuring, and reviewing. Genie suggests items to review based on the student&#8217;s engagement, and they can
    explore the Review Page to revisit previous C.L.E.A.R. steps.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enhancing
the data mining and artificial intelligence capabilities of our Genie AI is a primary focus, as is integrating the courses and communities
of our partners, faculty, and Acquisitions into our C.L.E.A.R. Philosophy.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Companies, Present and Future</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to their acquisitions, the Pre-IPO Group companies all shared a common vision of an entrepreneur education system based on our definition
personalized discovery-based learning leading to higher levels of self-awareness, self-mastery and self-expression, which in turn could
develop leadership and entrepreneurial skills enabling students to independently create value and &#8220;create a job&#8221; rather than
being dependent on a system in which they need to &#8220;get a job&#8221;. Our Acquisitions share a similar vision.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
the companies have a shared vision, the Pre-IPO Group companies had various common aspects of our Genius Curriculum&#8217;s 8 pillars,
our Genius learning Methodology, our 10 Genius Principles, our C.L.E.A.R. Philosophy as described above, while having differing courses,
products and services. The Acquisition companies also share common aspects of our Genius Curriculum as described above, and also have
differing course, products and services as described in the section below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on these commonalities and differences, below is a summary of the present state and future plans of these aspects of the Genius Curriculum
within each of our Group companies:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUSU
LTD: </b>As the Edtech Platform, GeniusU is designed with our Genius Curriculum in mind and has been developed to provide our students
and partners a consistent experience of all aspects of the Genius Curriculum. Entrepreneurs Institute, training company with entrepreneur
content improved after becoming a part of Genius Group and transfer of its courses onto GeniusU. Our plan is to continue to develop and
deliver this experience with respect to our Genius Curriculum in the following ways:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>Based on our definition of &#8220;entrepreneur education&#8221; as personalized discovery-based learning that
    leads to higher levels of self-awareness, self-mastery and self-expression, our course builders and certifications on GeniusU are
    designed to ensure the courses delivered include these aspects of personalized discovery-based learning. This is explained in more
    detail in the &#8220;Our Courses, Products and Services&#8221; section below.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>The combination of a global classroom, online delivery and personalized mentoring in challenge-based
    courses ensures all 8 of the &#8220;Education 4.0&#8221; pillars described above are practiced and experienced by both our students
    and our partners.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology: </b>The combination of the quizzes, personalized learning profiles and personalized course recommendations
    provided by our AI Genie ensure students can follow a personalized discover-based learning path based on &#8220;andragogy&#8221;
    rather than a prescriptive &#8220;pedagogy&#8221;. Our plan is for the students of our Acquisitions to have similar tools to follow
    their own personalized discover-based learning path.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>GeniusU has been designed with all 10 Principles in mind. For example, Personalized Learning is designed into
    the student experience with our AI Genie, our microschool courses are designed as challenge-based courses, and our tests and reports
    are designed to question and measure impact focused learning. We plan to continue to develop the technology and measure the success
    of GeniusU by the extent to which it achieves these 10 principles.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy: </b>GeniusU has also been designed to direct and reward students to practice our C.L.E.A.R. Philosophy of learning through
    doing, with each course having actions to take for a student to connect, learn, earn, act and review, and for these actions to be
    rewarded with our GEM credit system. We plan to ensure the course delivered on GeniusU and by our Genius Group companies also align
    to this philosophy, through the design of their courses to include direction and reward for all five aspects.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ENTREPRENEUR
RESORTS: </b>Entrepreneur Resorts has a different revenue model from the education companies in the Group, and it complements the education
companies by providing location-based campuses that link local mentors and partners to local students while hosting courses delivered
via GeniusU and generating income from food, drink and accommodation. By providing venues for the delivery of Genius Group courses, the
company practices the same elements of the Genius Curriculum.</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>As with Entrepreneurs Institute, prior to acquisition Entrepreneur Resorts also shared a similar entrepreneur
    education vision to GeniusU, but limited to each venue&#8217;s location. After the acquisition, Entrepreneur Resorts is expanding
    on that vision with partners and course content growing via GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>Entrepreneur Resorts was originally established to provide venues for Entrepreneurs Institute,
    and so shared the same focus on developing skills in some of the &#8220;Education 4.0&#8221; pillars, including global citizenship,
    creativity, technology, interpersonal skills, and included collaborative and personalized learning. It also did not address the pillars
    of accessible and lifelong learning. After the acquisition, the company was challenged by government restrictions during the COVID-19
    pandemic. As our venues have been reopening, the company has plans to address these pillars as it has expanded its course calendar
    in the different venues.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology: </b>The students who attend courses at Entrepreneur Resorts venues do develop their own personalized discovery-based
    learning path based on &#8220;andragogy&#8221;. Since the acquisition, the growth of students, partners and courses on GeniusU has
    enabled the company&#8217;s venues to grow its reputation in delivering discovery-based and challenge-based courses.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>Entrepreneur Resorts was also similar to Entrepreneurs Institute in the Genius Principles it was following
    prior to acquisition, including personalized learning, challenge- based courses, global classroom, leading learners and leadership
    skills. Also similar to Entrepreneurs Institute, after the acquisition, the company also now has the tools to introduce the Genius
    Principles of a positive credit system, decentralized system, inclusive entry and a lifelong learning pathway, with plans to include
    these, post-pandemic.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy: </b>Entrepreneur Resorts also focused on the first two elements of the C.L.E.A.R. Philosophy, connecting and learning,
    in its events prior to the acquisition. Now that the venues will be hosting more courses and conferences delivered partly on GeniusU
    and partly with in-person faculty partners and community partners, the company plans to introduce the other elements of the CL.E.A.R.
    Philosophy.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EDUCATION
ANGELS: </b>While it may appear unusual for an early learning company&#8217;s curriculum to be seen as entrepreneurial, based on our
definition of Entrepreneur Education being personalized discovery- based learning, we see Education Angels&#8217; curriculum as being
entrepreneurial in nature. The original founder of Entrepreneurs Institute was inspired by Green School&#8217;s entrepreneurial approach
to education in a similar way to Genius Group Ltd.&#8217;s CEO Roger Hamilton, and has been a long term student and partner of Genius
Group Ltd, utilizing the following elements of the Genius Curriculum in the development of the Education Angels&#8217; current curriculum:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>Education Angels shares a similar vision of equipping parents and young children with early learning tools
    and programs to create a personalized, discovery- based learning experience for both parents and their children. Our plan is to expand
    on this vision through the additional adult and family programs we will be introducing, that provide each family member with a relevant,
    personalized learning path.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars:</b> Education Angels was established to provide an &#8220;Education 4.0&#8221; learning system
    for young children. The programs and courses that they deliver, together with the personalized delivery of in-home childcare and
    education professionals, are designed to foster growth in all 8 of the &#8220;Education 4.0&#8221; pillars. We have completed the
    acquisition of Education Angels and are scaling the Education Angels programs as explained in the &#8220;Courses, Products and Services&#8221;
    section below.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology:</b> The Education Angels system is based on the &#8220;Andragogy&#8221; methodology of self-directed learning
    and &#8220;learning by doing&#8221;, with educators beginning with the personal character, traits and passions of the parents and
    children, and providing a learning environment for the children to learn through interaction and discovery. We plan to extend this
    &#8220;Andragogy&#8221; approach by introducing the gamification elements explained within our 10 Genius Principles, and by providing
    parents and teachers with our tools on GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>As Education Angels has developed within one country with a traditional enrolment model and in-home education
    delivery, it has been limited in the Genius Principles it has been practicing, with 2 of the 10 Genius Principles being part of its
    current learning system: Personalized learning and life skills. Our plan is to integrate the other Genius Principles into the Education
    Angels system as we introduce parent courses and online quizzes and courses with GEM rewards globally.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy:</b> Education Angels has also not been utilizing the C.L.E.A.R. philosophy. We plan to begin to integrate the C.L.E.A.R.
    philosophy post-acquisition by integrating it with our planned parent courses as detailed below.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E-SQUARE:
</b>E-Square was established to deliver an entrepreneurial education for primary school and secondary school students, with opportunities
for them to launch their own companies and learn technology and vocational skills. Their stated mission is: &#8220;To produce self-motivated
individuals who are ready to compete in a global business or Corporate Environment or even better becoming self-motivated successful
Entrepreneurs. The company and its team were referred to Genius Group Ltd by our entrepreneur community in South Africa as a recommended
addition to our Genius Curriculum, and this led to the current acquisition. E-Square already shares various elements of the Genius Curriculum:</span></p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>E-Square shares a similar vision of empowering students to learn through a personalized, discovery-based process
    where they gain the entrepreneurial, vocational and leadership skills to be able to &#8220;create a job&#8221; instead of &#8220;get
    a job&#8221;. Their mobile based online system enables teachers to manage personalized learning pathways for each student whether
    they are in class or learning remotely. After the acquisition is closed we plan to expand this system through GeniusU to the families
    in our global community who want their children to follow a similar system as part of their primary or secondary school education.
    We believe that the combination of E-Square&#8217;s current tools, together with our GeniusU platform and our shared vision, will
    enable us to reach children and primary and secondary school level globally.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>E-Square has used the 8 &#8220;Education 4.0&#8221; pillars as a framework for the development
    of their curriculum and the courses they deliver to their students. This means all 8 pillars are already integrated into their curriculum:
    Global citizenship, innovation, technology and interpersonal skills; Personalized, accessible, collaborative and student-driven learning.
    We plan to expand the lifelong learning aspect by providing high school students with a pathway to further learning either through
    university or through apprenticeship within our global entrepreneur community.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology: </b>While primary and secondary school require a level of pedagogy in order for students to pass the standardized
    tests required to achieve a high school diploma, E-Square is also practicing a degree of self-directed and self-paced learning by
    providing students with options they can choose from that are relevant to their passions and path. In this way, they have already
    introduced a degree of discovery-based learning principles of andragogy to combine with the current pedagogy. We plan to expand these
    discovery-based options with the courses and personalized learning tools we will deliver on GeniusU. These will also include credits
    towards their education, together with multiple exits from high school, including university, vocational training or starting a business.
    We believe this will result in an increasingly personalized, gamified and discovery-based approach to our Genius curriculum for school
    students.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>Similar to Education Angels, E-Square has been following a limited number of the Genius Principles, and also
    plans to embrace them all post-acquisition. The current Genius Principles they do practice include leadership skills, personalized
    learning, and impact focused learning.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy:</b> E-Square has also not currently been utilizing the C.L.E.A.R. philosophy. We plan to begin to integrate the C.L.E.A.R.
    philosophy post-acquisition as we add E-Square courses on GeniusU.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>University
of Antelope Valley: </b>UAV was originally established by two entrepreneurs to provide vocational training in the medical field. This
has since developed into an accredited university offering both vocational certifications and academic degree programs while maintaining
a vision of entrepreneurial education where the end goal is not graduation, but creating productive leaders within the community. UAV
already share the following aspects of the Genius Curriculum:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>UAV&#8217;s mission statement reads &#8220;The University of Antelope Valley offers higher education that enables
    students to achieve their academic, career, and personal goals, thereby allowing them to become valuable assets to their communities.&#8221;
    The university shares Genius Group Ltd.&#8217;s entrepreneur education vision and the faculty and staff are ready to implement the
    various elements of the Genius Curriculum post-acquisition. These elements are detailed below, and they include expanding on our
    common vision of personalized, self-directed education through the courses and programs we plan to introduce, including the student-led
    courses, summits and festivals detailed in the &#8220;Courses, Products and Services&#8221; section below.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>UAV has not been practicing all 8 &#8220;Education 4.0&#8221; pillars, mainly as their focus
    in recent years has been in achieving the benchmarks necessary for a U.S. university to compete with other traditional education.
    This includes ensuring high pass marks in academic courses and achieving the metrics set by accrediting bodies. Some of these pillars
    have been introduced by the staff, including innovation and technology skills and collaborative learning. Post- acquisition, we plan
    to integrate the other &#8220;Education 4.0&#8221; pillars into UAV&#8217;s courses with a focus on the first courses being integrated
    on GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology: </b>UAV has been following more of a pedagogical approach in the delivery of its certification and degree programs,
    whereby students are required to follow the same course content towards standardized testing. However, UAV also attracts students
    as a result of its student-led learning and experiences, including its sports and extra-curricular programs, and corporate partnerships
    and placements. Our plan is to introduce to UAV students a more andragogical approach in which they can take free or paid courses
    outside of or additional to a full-time degree program as part of their learning journey, with these courses adding to their education
    credits, with each student using GeniusU to deliver a more personalized, gamified, engaging learning journey using the 10 Genius
    Principles and C.L.E.A.R. philosophy.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>UAV is currently not following the 10 genius principles. We plan to integrate the genius principles together
    with the programs we plan to run at UAV and the UAV courses we host on GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy: </b>UAV has also not been following the C.L.E.A.R. philosophy, with a more traditional approach to education. We plan
    to add the C.L.E.A.R. philosophy with all UAV students utilizing the tools on GeniusU for their development of self-awareness, self-mastery
    and self- expression.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
Investors Network: </b>PIN is similar to Entrepreneurs Institute in its focus on adult learning and in a way it has already adopted most
of the elements in the Genius Curriculum. The founder of PIN is a long- term student of Genius Group Ltd and has grown his company using
the education methodology, principles and philosophy. Below are the aspects of the Genius Curriculum that PIN currently shares:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Education Vision: </b>PIN shares an entrepreneur education vision similar to that of GeniusU, but as with Entrepreneurs Institute,
    PIN is currently limited in scale by the delivery of training in-person or with a limited faculty. We have completed the acquisition
    and integration of PIN and are expanding PIN with this vision in a similar way to Entrepreneurs Institute, attracting new students
    and partners from around the world via GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>The training courses delivered develop skills in some of the &#8220;Education 4.0&#8221;
    pillars, including global citizenship, creativity, technology, interpersonal skills, together with collaborative and personalized
    learning. However, as it currently focuses at adult learners, it did not address the pillars of accessible and lifelong learning.
    After the acquisition, we plan to expand PIN&#8217;s course offerings on GeniusU to deliver on all 8 &#8220;Education 4.0&#8221;
    pillars.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Learning Methodology: </b>Students in PIN currently used GeniusU&#8217;s tools and products to develop their own personalized discovery-based
    learning path based on &#8220;andragogy&#8221;. We have completed the acquisition of PIN and are planning to expand the PIN courses
    on GeniusU to develop more effective personalized, scalable learning paths.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
    Genius Principles: </b>PIN is currently following the same Genius Principles that Entrepreneurs Institute did prior to acquisition.
    These include personalized learning, challenge-based courses, global classroom, leading learners and leadership skills. We have completed
    the acquisition of PIN and are planning to introduce the additional principles of a positive credit system, decentralized system,
    inclusive entry and a lifelong learning pathway with the tools available on GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.L.E.A.R.
    Philosophy: </b>PIN already follows the C.L.E.A.R. philosophy today, with students rewarded for connecting, learning, earning, acting
    and reviewing. This is in the form of challenges, awards and rewards. We are developing PIN&#8217;s use of our C.L.E.A.R. philosophy
    further as we integrate all of PIN&#8217;s courses and events on GeniusU.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Revealed
Films:</b> RF is focused on adult learning through Documentaries and Docuseries that span a wide array of topics. These topics help our
students navigate their beliefs and expand their knowledge by interviewing experts and educators that may have perspectives that differ
from conventional thinking. The founders of RF have been long-term students of Genius Group Ltd and have grown their company using the
education methodology, principles and philosophy. Below are the aspects of the Genius Curriculum that RF currently shares:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Entrepreneur
    Education Vision: </b>RF shares an entrepreneur education vision similar to that of GeniusU, However, RF topics though by traditional
    media may be polarizing, can give a fresh perspective to see various sides of topics and different paths to success. We have completed
    the acquisition of RF and are expanding Genius Films with this vision to grow our student base with experts and educators in their
    respective fields.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>8
    &#8220;Education 4.0&#8221; Pillars: </b>RF has not been practicing all 8 &#8220;Education 4.0&#8221; pillars. To date, RF has practiced
    Global citizens skills to build awareness about the wider world, sustainability, and active participation in the global community.
    In addition, interpersonal skills: that when applied with the philosophy of being a lifelong learner, enhance interpersonal emotional
    intelligence, including empathy, cooperation, negotiation, leadership, and social awareness. As RF continues to be integrated into
    Genius, the remaining pillars will be brought into the culture to enhance course offerings.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Genius
    Learning Methodology: </b>Students in RF will gain access to GeniusU&#8217;s tools and products to develop their own personalized
    discovery-based learning path based on &#8220;andragogy&#8221;. We have completed the acquisition of RF and are planning to expand
    the RF courses on GeniusU to develop more effective personalized, scalable learning paths.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>10
    Genius Principles: </b>RF is currently additional Genius Principles post the acquisition. Currently, RF practices global classroom,
    inclusive entry, and lifelong learning. We have completed the acquisition of RF and are planning to introduce the additional principles
    of a positive credit system, decentralized system, inclusive entry and a lifelong learning pathway with the tools available on GeniusU.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>C.L.E.A.R.
    Philosophy: </b>RF follows aspects of the C.L.E.A.R. philosophy today, with students rewarded for connecting, learning, and reviewing.
    This is in the form of access to projects, awards and rewards. We are developing RF&#8217;s use of our C.L.E.A.R. philosophy further
    as we integrate key RF projects and events on GeniusU.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
each company in the Group shared varying aspects of the Genius Curriculum, post-acquisition, we have integrated each company in a way,
they share a common vision, methodology, pillars, principles and philosophy as our courses, products and services evolve.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Courses, Products and Services</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are developing a comprehensive entrepreneurial education curriculum, complete with a suite of tools for student learning and faculty
earning. Our Acquisitions have been chosen for their focus on preparing individuals to &#8220;create a job&#8221; rather than &#8220;get
a job,&#8221; achieved through nurturing student-driven learning in early years and developing vocational, technology, and entrepreneurial
skills in later years. We have integrated, and will continue to integrate, these courses into our Genius curriculum and GeniusU Edtech
platform, along with our principles and C.L.E.A.R. philosophy.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
product range is divided into six stages of education, with each stage offering four product groups. Three groups cater to students at
varying time and cost commitments, while the fourth group targets partners, training them to join as community partners or faculty members:</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FREE
COURSES</b>: Most students begin with a free course, utilizing our &#8220;freemium&#8221; model. They can learn for free, build their
learning profile, connect with circles, and receive guidance from our AI Genie. Examples of free courses include:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assessments:
    5 to 30-minute online quizzes providing insights into personality or progress.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Masterclasses:
    60-minute to 4-hour live or recorded webinars teaching specific skills or solving problems.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Workshops:
    3 to 4-hour live or recorded webinars with facilitated interaction, delivering specific outcomes or previewing paid courses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microcourses:
    3 to 5-day competitions, combining masterclasses with submissions and awards.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microdegrees:
    Pre-recorded online courses offering a sample of paid course content.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PAID
COURSES</b>: Students can opt to purchase one-off paid courses, ranging in cost from $15 to $5,000. Examples of paid courses include:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Events:
    Paid live digital, in-person, or hybrid events such as training courses or global summits, priced between $15 and $1,500.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Workshops:
    60-minute to 2-day live or recorded workshops or mentorships, with faculty interaction and specific outcomes, priced between $100
    and $3,000.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microschools:
    5 to 90-day challenge-based education modules combining digital and in-person elements, with submissions, awards, and GEM credits
    for completion, priced between $1,000 and $5,000.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Products:
    GeniusU&#8217;s online store offers additional educational products, including books, video courses, and in-person sessions that
    partners can add to provide a comprehensive educational offering to their students.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DIPLOMA
COURSES</b>: The third step that a number of our students take is a diploma course that spans over one or more years. These range from
$1,000 to $30,000 per year. Examples of our diploma courses include:</span></p>

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

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Memberships:
    </b>We host membership programs on GeniusU for our own companies and for our partners. These are delivered through a mix of digital,
    live and in-person. They provide monthly training, connection and information for the members who join, with prices ranging from
    $1,000 to $20,000 per year.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Diploma
    Certificates: </b>Further to our Acquisitions we are adding vocational certifications to our product range, and we plan to extend
    this to primary and high school diploma programs. These will be delivered through a mix of digital, live and in-person. Prices range
    from $2,500 to $10,000 per year.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Degree
    Certificates: </b>Further to our acquisition of UAV we are also adding bachelor&#8217;s and master&#8217;s degree certificates to
    our product range. These will be delivered through a mix of digital, live and in-person. Prices range from $2,500 to $30,000 per
    year.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MENTOR
RESOURCES</b>: Most of our 14,700+ partners began or participated as students before joining our partner community. We have two partner
pathways which work together at each stage of education: Community partners who host events, courses and venues, creating their own training
center or school in their local area; and Faculty partners who deliver the events and courses. Partners and faculty pay for mentor resources
in order to be trained, certified, learn best practices from other mentors and access our partner tools and dashboards on GeniusU. mentor
resources range from $1,500 to a percentage of their revenues which can range from 2.5% to 30% of revenues. Examples of our mentor resources
include:</span></p>

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

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Certifications:
    </b>Our online certifications enable community partners and faculty to be trained to grow student communities or to deliver one or
    more of the courses above. These certifications include mentor tools to add the courses above to GeniusU, attract and grow student
    and partner communities, take payment and track their activity with ready-made dashboards. These range from entry level certifications
    to advanced certifications. Prices range from $1,500 to over $35,000 per year for the initial certification and annual re-certification.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sponsorships:
    </b>Partners have the option to sponsor various programs, including our global summits and courses, and provide prizes and awards
    as part of our education challenges. Prices range from $1,500 to $50,000.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Licenses:
    </b>Partners also have options to license the use of various education models as they build their education business on GeniusU.
    For example, venue partners pay between 2.5% to 5% of revenue when operating their campus venues. Community Partners and Faculty
    also pay a platform fee of between 5% to 30% for products they sell on GeniusU.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the following section are the courses, products and services currently offered by the Pre-IPO Group and the Acquisitions, together with
our plans on how we will be developing these products together with new products following the completion of the acquisitions.</span></p>

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


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

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

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

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

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Courses, Products and Services</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are developing a life-long Genius curriculum together with a full suite of tools for students to learn (at every age and ability level)
and for faculty to earn on GeniusU, divided in the following stages:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PREP
    - 0 to7 years old: </b>Our Acquisition, Education Angels, provides education services to this stage of education. With $0.9 million
    in 2022 revenue and 194 paying students in 2022, this represents 3% of our pro forma Group revenue and 1% of our total paying students
    in 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRIMARY
    - 6 to 14 years old: </b>Our Acquisition, E-Square, provides courses and a full primary school program to this stage of education.
    With $0.3 million in 2022 revenue and 171 paying students at primary school level, this represents less than 1% of our pro forma
    Group revenue and less than 1% of our total paying students in 2022 in our primary school offering.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SECONDARY
    - 12 to 18 years old:</b> Our Acquisition, E-Square, also provides courses and a full secondary school program to this stage of education.
    With $0.3 million in 2022 revenue and 220 paying students at secondary school level, this also represents less than 1% of our pro
    forma Group revenue and less than 1% of our total paying students in 2022 in our primary school offering. Between primary and secondary
    school levels combined, E-Square had $0.6 million in 2022 revenue and 391 paying students, representing approximately 2% of our pro
    forma Group revenue and 2% of our paying students, currently making our offering to school students the smallest and newest contributor
    to the Group.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>APPRENTICE
    - 16 to 22 years old:</b> Our Acquisition, UAV, provides vocational certifications and degree level programs to this stage of education.
    With $8.1 million in 2022 revenue and 489 paying students, this represents 29% of our pro forma Group revenue and 1% of our total
    paying students in 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ENTREPRENEUR
    - 16 to 80 years old:</b> Our Pre-IPO Group Edtech company, GeniusU and entrepreneur education company, Entrepreneurs Institute,
    has been providing courses and products to adult learners. With $4.9 million in 2022 education revenue, 3.1 million students and
    43,136 paying students, this represents 17% of our pro forma Group revenue and 25% of our total paying students in 2022. Our Acquisition,
    PIN, also provides courses and products to adult learners. With $3.0 million in 2022, 164,712 students and 67,987 paying students,
    this represents 11% of our pro forma Group revenue and 40% of our total paying students in 2022. When combined, this education stage
    represents 28% of pro forma Group revenue and 65% of our paying students in 2022. Post- IPO, as we develop the other stages in our
    curriculum, we plan for the percentage of revenue and students from this stage will fall as the percentage of revenue and students
    in the other stages increase.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MENTOR
    - 18 to 100+ years old:</b> Currently GeniusU provides mentor certifications for partners who build their education businesses on
    our Edtech platform. While Entrepreneurs Institute and PIN are both utilizing GeniusU to grow their mentors, our plan is for the
    other Acquisitions to also attract, train and grow their faculty through GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ENTREPRENEUR
    RESORTS - All Ages:</b> Our Pre-IPO Group company, Entrepreneurs Institute, operates a campus model in the form of resorts, cafes
    and coworking spaces, and has plans to grow these campuses by connecting local partners with our global community, Genius Curriculum
    and GeniusU platform. It delivers revenue from accommodation, food and beverage. With $4.7 million in campus revenue in 2022, this
    represents 17% of pro forma Group revenue. We are in process to spin-off Entrepreneur resorts and focus on our core business, education.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the IPO and completion of the Acquisitions, PIN was the only Acquisition to be actively using the GeniusU Edtech platform and our
global community to grow its business. We plan to integrate Education Angels, E-Square, UAV and RF to expand the process for their courses
to be added to GeniusU and our Genius Curriculum. We have provided further details below on the current courses, products and services
provided by each of these companies at each stage of learning, and we are integrating and expanding each company&#8217;s offering with
GeniusU and our Genius Curriculum.</span></p>

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


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

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PREP
&#8212; 0 to 7 years old</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are introducing our early learning program for parents and children up to seven years old with the acquisition of Education Angels. Until
this acquisition, our impact on early learning was limited to the events and courses that our parent-focused faculty hosted on GeniusU,
our Genius School Certifications, and the work that our Genius Educators had conducted with parents in early learning. Below is a list
of Prep products delivered in 2022, and our planned post-acquisition Prep product range in 2023:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Understanding
    your Young Genius FREE</b> &#8211; 1 week micro course to discover one&#8217;s child&#8217;s natural born Genius and promote positive
    learning environment to grow their self-awareness, confidence and growing social competence.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Early Years Last Forever Microschool</b> &#8211; 2 week micro school where parents can learn why the early years are so important
    and what they can do to best support their child. This course is to understand the child&#8217;s unique temperament and setting realistic
    expectations for the child. How to support each temperament type so that parents can grow its child&#8217;s ability to self-regulate
    and minimize challenging behaviors, growing their self-awareness and self esteem.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Angel
    Guide Certification </b>&#8211; This is a course for parents or adults that would like to work with preschool children. The course
    teaches how to guide children to a greater understanding of themselves. It includes the Early Years Last Forever program and includes
    strategies to support and grow children&#8217;s social and emotional wellbeing and to teach self-regulation, promote autonomy and
    grow children&#8217;s self-awareness and self-esteem.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRIMARY
&#8212; 6 to 14 years old, and SECONDARY &#8212; 12 to 18 years old</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Genius
School&#8221; is the brand we use within GeniusU to encompass all our programs for children and students up to high school graduation.
Prior to the acquisition of E-Square, Genius Group&#8217;s programs for primary and secondary school students were focused on the development
of our Genius School assessments, camps and certifications.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a list of Primary products delivered in 2022, and our planned post-acquisition Prep product range in 2023:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Early Years Last Forever Microschool</b> &#8211; Two week micro school</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Teen
    Genius Quiz &#8211; </b>Quiz for students to discover its Genius.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passion
    Test &#8211; </b>Test for students to learn how to align its life with its passions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purpose
    Test &#8211; </b>Test for students to discover their true &#8216;why&#8217; and learn the key steps to align their life (and learning)
    to their deepest meaning and motivation.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Teen
    Money Challenge - </b>In this challenge, students will learn that it is not about how much you earn, but what you do with what you
    earn that makes the difference.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Teen
    Dynamics Profile Test</b> - Profile and debrief, or family dynamics profiling and debriefing with one of our Genius Educators.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Teen
    Dynamics Discovery call</b> &#8211; One hour virtual call to understand the student&#8217;s natural strengths, the smartest and easiest
    way that students learn and develop a personalized learning pathway that will help them navigate the schoolwork minefield.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    School Micro Camp </b>&#8211; Two-day Genius Camps, which are sponsored by companies and hosted by schools or virtually, for students
    to gain insights into their talents, passions and purpose.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Teen
    Quest </b>&#8211; Two-week microschool to help students develop higher-order, design thinking and future ready skills to sustain
    their lifelong learning journey.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;Young
    Entrepreneur Academy</b> - Two-week virtual program to help students build a business and learn leadership and entrepreneur skills
    used by the world&#8217;s top entrepreneurs, as well as connect to a global community of like-minded young leaders.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Young
    Entrepreneur Membership</b> &#8211; Annual membership to access all Student Skills Microschools and scholarships and sponsorships
    to support certain students.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">APPRENTICE
&#8212; 16 to 22 years old</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have established the University of Antelope Valley (UAV) as our global center for curriculum development, with a long term aspiration
to expand the campus to include innovation labs, accelerator camps and courses delivered for all education stages of our lifelong learning
curriculum</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of University of Antelope Valley is our first step towards integrating vocational certificate level and university degree
level courses into our curriculum.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
University of Antelope Valley was originally established as a medical and vocational college and received regional university accreditation
with the Western Association of Schools and Colleges (WSCUC) in 2016. Its focus on growing entrepreneurial and employment opportunities
for its students is a core part of its culture and mission. We believe this gives the university a strong fit with Genius Group&#8217;s
culture and mission. The University currently offers certificate level, bachelor&#8217;s level and master&#8217;s level degree courses
in subjects ranging from Business Management, Healthcare Management and Sports Management through to Psychology, Communications and Education.
Details of all courses and accreditations are provided in the &#8220;Further Company Information&#8221; section below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2023, we plan to extend our education festivals and host a MedTech festival, Greentech festival and Spaeth festival at UAV in Lancaster,
with the support of industry sponsors and the Lancaster City Council. We plan for attendance to be both in-person and broadcast live
via GeniusU, and to combine a free Microcourse challenge, startup competition, paid virtual summit and paid four-week Microschool.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also plan to offer a series of additional paid Microschools in management, entrepreneurship and education with credits towards full certificate
and degree programs, as a trial prior to enrolling for the diploma courses at UAV. Below is a list of courses delivered in 2022, and
our planned post-acquisition Prep product range in 2023:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passion
    Test </b>&#8211; Test for students to learn how to align its life with its passions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purpose
    Test </b>&#8211; Test for students to discover their true &#8216;why&#8217; and learn the key steps to align their life (and learning)
    to their deepest meaning and motivation.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Wealth Dynamics or Talent Dynamics test </b>&#8211; The Genius Wealth Dynamics or Talent Dynamics test is the world&#8217;s leading
    profiling tool for intra &amp; entrepreneurs. This test is designed to help students find out which of the eight wealth profiles
    is their natural path.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic
    CPR and Life Saving </b>&#8211; Course to know the basics of life saving skills</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Summit </b>&#8211; Course to learn how to attract new customers, maximize profits and increase impact.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Associate
    in business </b>&#8211; Certificate level, bachelor&#8217;s level and master&#8217;s level degree courses in subjects ranging from
    Business Management, Healthcare Management and Sports Management through to Psychology, Communications and Education.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Certificate
    in Medical billing and coding </b>&#8211; Medical Billing specialists ensure that patient records are accurate and that charges are
    properly submitted. The program introduces topics such as HIPAA, billing procedures, and claim processing. Graduates are prepared
    for entry level positions such as billing clerks and claims processors.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Medical
    Assistant certificate </b>&#8211; Medical assistants work directly with patients and assist in their care and well-being. This program
    helps students develop relevant skills and gain real-world experience.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Culinary
    Arts and Restaurant Management certificate </b>&#8211; A certificate in culinary arts and restaurant management opens doors to careers
    in food service. Students study food preparation, menu planning and safety in a modern kitchen environment. Graduates are prepared
    for entry level employment as prep cooks, cooks, sous chefs, restaurant managers or chef.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bachelor
    of Science is Psychology </b>&#8211; The program is designed to help build a solid foundation into the cognitive and affective processes
    that underlie human development and behavior. Students will study the application of psychological principles in both social and
    professional environments and learn the biological and behavioral aspects of psychology. Students will explore the influence gender
    and culture has on the psychology of individuals and groups.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Criminal
    Justice Degree </b>&#8211; This program provides a broad review of the Criminal Justice system as well as a basic awareness of social
    and behavioral sciences. The upper-level courses include a focused study of the criminal justice system including principles of investigation,
    forensic specialties, and homeland security. Graduates are prepared for entry-level employment or career advancement in such professions
    as law enforcement, corrections, immigration, security services, and similar types of employment.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bachelor
    in Health and Fitness </b>&#8211; This major provides students the knowledge, skills, and abilities to develop and conduct health
    and fitness programs in commercial, corporate, public, and private settings such as personal training and athletic performance facilities.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Next
    generation of Masters in Education </b>&#8211; Our online MSED has the blend of a traditional graduate degree with lectures from
    incredible global experts in igniting the Genius in every student. In addition, a trip to Bali (Indonesia) to learn how to humanize
    and personalize learning, create self-aware young Genius&#8217;s, realize the true potential in our new generations, future ready
    education for future ready skills.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Next
    generation of Master of Business Administration (MBA) </b>&#8211; Our online MBA has the blend of a traditional graduate business
    degree with lectures from incredible global experts in Entrepreneurship, Leadership, and wealth accumulation such as Property, Crypto,
    &amp; Stock. In addition, a trip to Bali (Indonesia) to develop students&#8217; vision, wealth, health, energy, relationships and
    social impact.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Additional
    Master&#8217;s Degree</b> &#8211; 12 to 24 month certified Masters from California Business School with innovative content from top
    entrepreneur and investment leaders.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ENTREPRENEUR
&#8212; 16 to 80 years old</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the acquisition of Entrepreneurs Institute, all of the courses and products offered on GeniusU were added, promoted and delivered
on GeniusU by our partners. With the acquisition of Entrepreneurs Institute, the entrepreneur courses and products developed and owned
by Entrepreneurs Institute came under the ownership by Genius Group and these courses and products have become fully integrated into
our Genius Curriculum and GeniusU. With the acquisition of Property Investors Network (PIN), PIN&#8217;s courses and products will be
integrated in a similar way. The courses and products of these two companies, together with the courses and products marketed and delivered
by our partners on GeniusU, form the product range for the students at the &#8220;Entrepreneur&#8221; stage of our Genius Curriculum.
Prior to the Pre-Acquisitions, over 70% of the education revenue of the Pre-IPO Group was derived from this stage.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
students up to university graduation age progress through a series of grades and levels similar in name to the current Pre-K to 12 grades
and four university grades, our adult learning is divided into nine levels that relate to the nine levels of entrepreneurship. This is
a proprietary system called Impact Dynamics, originally owned by Entrepreneurs Institute and now owned by Genius Group Ltd, that has
proven to be one of the greatest attractions to our entrepreneur students as it provides specific steps to take in order to move from
one level to the next on their entrepreneur journey.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
levels are Infrared (In debt, seeking financial and leadership literacy), Red (Seeking a pathway to self- sufficiency), Orange (Capable
of creating a job and delivering value to others), Yellow (Capable of attracting resources, a team and launching a startup), Green (Proficient
at growing a high-performing team), Blue (Understanding how to attract and grow capital), Indigo (Able to lead and direct trust within
a market), Violet (Trusted by others to lead societal change) and Ultraviolet (At a level to marshal global change).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
products and programs that were previously owned by Entrepreneurs Institute and are now owned by Genius Group Ltd and delivered by GeniusU
include the Wealth Dynamics Profiling System, which has been taken by over 600,000 entrepreneurs around the world, the annual Global
Entrepreneur Festival (which in 2020 was attended by 20,000 entrepreneurs online over a five day entrepreneur challenge, a two day Global
Entrepreneur Summit that included a preview of the Top 10 Trends in the coming Digital Decade, and a week- long series of workshops),
the one week Wealth Dynamics Masters Retreat (which enables business teams to plan out their coming year together, guided by mentors),
the three day Impact Investor Retreat (which provides investors with the latest strategies and market insights), the one day Entrepreneur
5.0 Workshop (which gives an insight into the Japanese vision of the coming &#8220;Society 5.0&#8221; high-tech society and the future
of jobs) and the one day Entrepreneur Fast Track Workshop (which provide an overview of the Genius curriculum and provides each participant
with an assessment of their entrepreneur profile and entrepreneur level).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
also runs monthly evening events called Entrepreneur Socials hosted by City Leaders in cities around the world, which we believe provides
the tools and templates for faculty to run their own in-person events and courses that add a high-touch, local element to the high-tech,
global delivery on GeniusU. All the bookings and management of these various in-person events and programs, together with the pre-event
and post-event activity, takes place on GeniusU.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Investors Network follows a similar model to Entrepreneurs Institute, and runs monthly evening events called PIN meetings hosted by PIN
hosts in cities across the United Kingdom, specifically for property investors to share their knowledge, opportunities and listen to
experienced investors who explain the details of their recent transactions. Both our entrepreneur and investor network have approximately
fifty events per month, and we plan to grow this number as many of our students follow a natural path to become our partners and faculty.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
currently offers a range of free courses, paid courses and full time diploma courses. They have built mentor resources for City Leaders,
but not for faculty members. We have completed the acquisition of PIN and are expanding the free and paid courses, together with mentor
resources, in the first steps to integrate and digitize PIN&#8217;s offerings and to scale them globally.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Now
that the acquisition of PIN has been completed, our plan is to integrate PIN&#8217;s courses and community into our Genius Curriculum
with a plan that includes:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launching
    the free Investor Genius Test and a series of free Investor Masterclasses, similar to the free Entrepreneur Masterclass series which
    contribute to the 8,500 new students joining GeniusU on average each week in 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
    of the Wealth Dynamics for Investors assessment, together with a series of paid Property Investing Workshops and microschools on
    GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Migration
    of PIN&#8217;s current City Hosts, city investor communities and monthly events to GeniusU, and expansion of PIN&#8217;s City Host
    model in the UK to cities around the world.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Launch
    of certifications on GeniusU for community partners and faculty to deliver PIN&#8217;s courses and events globally.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expansion
    of PIN&#8217;s current property summit and membership model with country partners to a global model, replicating the current model
    in different countries and languages.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a list of the main Entrepreneur products delivered in 2021 and 2022, and our planned post-acquisition Entrepreneur product range in
2023:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Free
Courses: </b>In 2023, GeniusU grew its community of free students primarily through free assessments and free masterclasses and microcourses.
The assessments were delivered digitally, with results linking to each student&#8217;s learning profile on GeniusU, and the free courses
were delivered by our partners and faculty. In 2022, a total of over 1,000 different free education courses and products covering a wide
range of subjects and skills were offered on GeniusU. PIN also conducted free courses similar to those hosted on GeniusU, resulting also
in an intake of free students. In 2023, we plan to offer new assessments such as the Entrepreneur Genius Test and Investor Genius Test,
together with an expansion in our free Entrepreneur and Investor Masterclasses, while also integrating PIN&#8217;s courses into GeniusU,
our Genius Curriculum and Genius learning methodology. The main online assessments we will offer include:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Genius Test: </b>Our most popular test identifies which of four personality types best fits the student, giving them guidance on
    their natural path in learning, earning, leading and connecting.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Passion Test: </b>In partnership with Chris and Janet Attwood, the authors of the New York Times Bestseller &#8216;The Passion Test&#8217;,
    this test identifies the students&#8217; top five passions and guidance on aligning their learning, earning and environment to the
    activities and actions they are most passionate about.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Purpose Test: </b>This test identifies which of 17 global goals the student is most aligned to, and enables them to connect with
    other students, mentors and companies on GeniusU that share the same purpose.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Entrepreneur Quiz: </b>This quiz identifies each student&#8217;s learning goals, level of entrepreneur expertise and level of leadership,
    size of business or investment portfolio. This in turn enables our Genie AI to guide them most effectively in their first steps on
    their personalized learning journey on GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Impact Test: </b>This test identifies which level of complexity the student&#8217;s enterprise is at out of 7 levels, from 1 customer
    to 1 million customers, and as a result it guides the challenges, opportunities and solutions to navigate through their specific
    level of enterprise.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Wealth Spectrum: </b>This test identifies which of 9 financial literacy levels the student is at, what the greatest challenges and
    solutions are at their level and what the next steps are to master the level.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Entrepreneur Genius Test: </b>This is a new test we plan to launch that tailors the Genius Test questions and results specifically
    towards students looking to start or grow a business.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
    Investor Genius Test: </b>This is a new test we plan to launch that tailors the Genius Test questions and results specifically towards
    students looking to build an investment portfolio.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Dynamics </b>&#8211; This is the No.1 agile leadership system for entrepreneurs. This Microdegree takes students through each step
    of Entrepreneur Dynamics, and how to apply the agile leadership principles in the system to their company and in their team.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Millionaire
    Master Plan </b>&#8211; Students learn which of the nine levels of the wealth spectrum they are currently at, and how understanding
    this master plan is critical to knowing the next step students will need to take in their entrepreneurial journey.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5
    Day $50K Global Education Challenge </b>&#8211; Students join Roger James Hamilton, futurist, entrepreneur and founder of Genius
    Group, Daniel Priestly, founder of DENT global and best-selling author and speaker, as they host the Global Education Challenge and
    reset, restructure and launch their Education 5.0 and Community 5.0 plan to navigate and strive in the digital decade.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5
    day $50k Global Entrepreneur Challenge </b>&#8211; Students learn 5 steps in 5 days to build their own digital business.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020
    Ready Accelerator </b>&#8211; Course that get students ready for the decade from 2020 to 2030 by growing their insight, income and
    impacts.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Partner
    like a pro with GeniusU </b>&#8211; In this Microdegree students learn how to make the most of their Mentor level membership by using
    the higher level features of GeniusU to enhance their presence, grow their community, create unique content and generate revenues.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Health
    Dynamics Microdegree </b>&#8211; System that links students health, wealth and happiness.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Entrepreneur Membership (GEM) </b>&#8211; Microdegree for students that want to generate additional income on the side or create
    an affiliate marketing business.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>How
    to build a fortune through cryptocurrencies </b>&#8211; Students learn how to trade cryptocurrencies.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unveiled:
    Protect Your Finances from the Hidden Threats </b>&#8211; In this masterclass students learn how to generate between 5% - 35% return
    based on the different investment strategies.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Successful
    Real Estate Investing </b>&#8211; Students learn how to buy real estate at wholesale prices making a profit from the day they buy
    and gain instant equity.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wealth
    Creation Summit </b>&#8211; Virtual Summit on how to create 4 additional streams of income from 4 top wealth creation specialists.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Paid
Courses: </b>In 2021 and 2022, GeniusU hosted over 400 paid courses and products covering a wide range of subjects and skills. These
range from $15 to $5,000. As mentors can build paid events, microcourses, microdegrees and microschools on GeniusU, new courses and products
are added daily. Mentors also market and deliver paid courses developed by other mentors once they are certified to do so. In 2023, the
paid courses that relate directly to the courses offered as part of the Entrepreneurs Institute product range and PIN product range include:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Socials and PIN Meetings: </b>Monthly, local meetings which connect event hosts and City Leaders with their local entrepreneur and
    investor communities, with guest speaker and network sessions, with attendees connecting before, during and after via GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wealth
    Dynamics Test: </b>This test identifies for each test taker which of the 8 entrepreneur profiles is their most natural path, and
    as a result what are the most effective ways to create value, start a business, build a team and develop an entrepreneurial success
    strategy.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wealth
    Dynamics Test for Investors: </b>This will be a new test which is a version of the Wealth Dynamics Test tailored to Investors. It
    identifies which of the 8 investor profiles and strategies the test taker is best suited for.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Talent
    Dynamics Test: </b>This test is a version of the Wealth Dynamics Test tailored to leaders and teams in corporations. It identifies
    the strengths and weaknesses within a team, and the talents within each member.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    5.0 Workshop Series: </b>A series of 12 one-day workshops covering key entrepreneur and business building tools, including the Impact
    Test, Wealth Dynamics, Talent Dynamics and the Wealth Spectrum.</span></td></tr>
  </table>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PIN
    Investor Summits: </b>Two annual investor summits hosted by PIN held in-person and online: Property Magic Live and Strategy Implementation
    Live.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    5.0 Microschool Series: </b>A series of 8 four-week microschools conducted throughout the year building key entrepreneur skills with
    the latest technology, with microschools in leadership, marketing, sales, product, community, investing, cash flow and tech.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
    5.0 Microschool Series: </b>A series of 8 four-week microschools conducted throughout the year building key investing skills with
    the latest technology, with microschools in financial literacy, financial instruments, portfolio planning, angel investing, stock
    market investing, stock market investing, cryptocurrencies and property investing.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wealth
    Dynamics Masters: </b>An intensive one-week microschool conducted twice a year, guiding founders, CEOs and executive leadership teams
    in their annual planning and long-term planning for their enterprise as it scales. This is delivered through a mix of digital and
    live, with students joining globally in three time zones and competing for the award of top business plan at the end of the week.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Diploma
Courses: </b>In 2021, GeniusU hosted over 50 annual memberships and mentorships. These range from $1,500 to $30,000. In 2022, the annual
courses that relate directly to the courses offered as part of the Entrepreneurs Institute product range and PIN product range include:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Entrepreneur Mastermind: </b>A 12-month membership program for entrepreneurs to join a global community and access monthly skills-based
    sessions with seasoned entrepreneurs and mentors sharing their experiences. This is delivered online and globally on different time
    zones.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Crystal
    Circle Mentoring: </b>A 12-month mentoring program for entrepreneurs at startup level, scale up level and investor level, to receive
    guidance and support on building their business from a team of mentors with a monthly, quarterly and annual or review, group sessions
    and one-to-one sessions. This is based on the business building tools based on Impact Dynamics and Wealth Dynamics.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
    Investor Mastermind: </b>A 12-month mentoring program hosted by PIN for experienced property investors to receive training, connections,
    opportunities in a global network of property investors, with facilitation and mentoring.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Dynamics Report </b>- Online quiz to learn which of the eight natural entrepreneur paths students are best studied for, the role
    models to follow and team to build</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Global
    Summit Series</b>: Lifelong Learning Summit (March); Impact Investor Summit (June); Global Entrepreneur Summit (September); Global
    Impact Summit (December)</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leadership
    5.0 Microschool </b>&#8211; A 4 week accelerator program that covers learning over four weeks, four subjects: Digital Strategy, Super
    Teams, Exponential Growth and Financing, together with how to put a full Leadership 5.0 Plan together</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Entrepreneur Metaversity </b>&#8211; A 12 month mastermind and metaversity for entrepreneurs with expert mentors, skills workshops
    and global opportunities.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
    5.0 Microschool</b> &#8211; A 4 week accelerator program that covers learning over four weeks, four subjects: Community Building
    Strategies, Community Engagement and Growth, A.I. tools for Community Management, together with how to put a full Community 5.0 Plan
    together</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Health
    Dynamics Consultant </b>&#8211; Course for entrepreneurs that need a fully developed health system that integrates with their existing
    business that can take your clients on a personalized pathway to health using proven systems.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Dynamics Masters </b>- 5 day virtual master&#8217;s program for students to build their business plan and compete for $50k in prizes,
    with world class mentors</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
    Circle Mentoring </b>- 12 month mentoring program for founders, CEO s and executives to build your business. At start up, scale up
    and corporate group level.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Digital
    Entrepreneur MBA </b>- 12 month certified MBA from California School of Business. Cutting edge content from top entrepreneurs and
    thought leaders.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
    Dynamics Report </b>- Online quiz for students to learn which of the eight natural investor paths they are best suited for, the role
    models to follow and team to build.</span></td></tr>
  </table>
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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Investor Network </b>- 12 month mastermind and metaversity for investors, with expert mentors, skills workshops and global investment
    strategies.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
    Mastermind Accelerator - </b>Virtual intensive workshop for investors seeking to aggressively build out their property portfolio
    over the next twelve months.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
    Dynamics Masters</b> - 5 day virtual master&#8217;s program for students to build their ideal portfolio and compete for $50,000 in
    prizes, with world class mentors.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
    Circle Mentoring </b>- 12 month mentoring program for investors in shares, crypto and property. At beginner, intermediate and advanced
    level.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Digital
    Investor MBA </b>- 12 month certified MBA from California Business School. Cutting edge content from top investment thought leaders.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Partnership
Opportunities</b></span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Faculty
    Level 1 MENTOR </b>&#8211; Partners can be part of our faculty and the go-to mentor for their own chosen niche or industry to build
    an education business and drive revenue of $40,000 to $150,000 per annum.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Faculty
    Level 2 LEAD MENTOR </b>&#8211; Partners can be part of our lead faculty and build their mentoring business with GeniusU&#8217;s
    support to build an education business and drive revenue of $150,000 to $300,000 per annum.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Faculty
    Level 3 CURRICULUM PARTNER </b>&#8211; Partners can create content for our Genius curriculum as our curriculum partner to build their
    education business and drive revenue between $300,000 and $2,000,000 per annum.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
    Partner </b>&#8211; Partners can integrate their product range into GeniusU with our full Partner Portal following the Genius Formula.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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

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

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
    Level 1 CITY HOST</b>&#8211; Partners can host city events and be the go-to event host for their city and community.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Event
    Partner </b>&#8211; Partners can join as an Event Partner for our four Global Summits</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
    Level 2 CITY LEADER </b>&#8211; Partners can lead events in their city as a city leader to build their community business</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
    Level 3 TRANSLATION PARTNER</b>&#8211; Partners can join as a translation partner to translate content for our Genius Curriculum</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
    Level 4 COUNTRY PARTNER </b>&#8211; Partners can build a full education business as a country partner with their own faculty team
    and community partners.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Venue
    Partnership </b>&#8211; Entrepreneur resorts has an organic growth plan with a mix of company owned and licensed venues. We are now
    in 3 countries with 5 locations and have developed the Genius Cafe, Genius Central and Genius Resort models, which we are expanding
    through regional license agreements.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PIN
    Host Partnership </b>&#8211; Being a PIN host is for students that have achieved property investment success and are looking to grow
    their investments and build their credibility in their locality. We provide all the training for them to host their own PIN events.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mentor
Resources</b>: In 2021 and 2022, GeniusU launched its certification builder, for partners and mentors to add their own certifications
to build and train their partner community. This has led to a growth in the number of certifications on GeniusU. These certifications
range from $1,500 to $32,000. In 2023, the paid certification relating directly to the courses offered as part of the Entrepreneurs Institute
product range and PIN product range include:</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneurs
Institute: </b>Entrepreneurs Institute has a global network of community partners and faculty partners, following the framework explained
in the &#8220;Mentor&#8221; section below. Mentors can join as community partners with training and certification at the following levels:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    One: Event Host</b> &#8211; Training and license to host Entrepreneur Socials and Wealth Dynamics, Talent Dynamics and Impact Dynamics
    events. Training on event marketing and management.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Two: City Leader </b>&#8211; Training and license to host events, courses and larger summits and workshops in a city. Training on
    course marketing, management and community building.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Three: Venue Partner &#8211; </b>Training and support to launch a Genius Caf&#233;, Genius Central or Genius Resort to operate
    as a local campus venue.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mentors
can join as faculty partners with training and certification at the following levels:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    One: Flow Consultant</b> &#8211; Training and license to use the Wealth Dynamics, Talent Dynamics and Impact Dynamics tool set within
    their training courses. Training on assessment debriefs.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Two: Performance Consultant </b>&#8211; Training and license to use the Wealth Dynamics, Talent Dynamics and Impact Dynamics tool
    set within their training courses. Training on building a customer pathway and delivering workshops and diploma courses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Three: Product Partner </b>&#8211; Training at Level One and Level Two. License to co-create content for specific industries or languages
    utilizing the Wealth Dynamics, Talent Dynamics and Impact Dynamics tools.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
Investors Network: </b>In 2023 we will be replicating the above partner framework with the same levels and price points, to build the
communities and courses for PIN globally, starting with the U.S.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
taking these steps to integrate PIN&#8217;s product range, partner community and student community in a similar process to the steps
taken to integrate Entrepreneurs Institute&#8217;s education community into GeniusU and our Genius Curriculum, we believe we are proving
a model that is equally attractive to other educators and their communities, opening the door to future acquisition opportunities.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to the courses and products offered on GeniusU, the platform has three tiers of membership. Member level is free and gives access
to the platform and community. Citizen level is a paid annual membership which provides the student with additional learning dashboards,
ability to earn credits and graduate, with student rates on all courses. Mentor level is a paid annual membership which enables a student
to become a part of the faculty and to create their own courses and products, with additional dashboards to track their students&#8217;
activities. More details on the mentor level are provided below.</span></p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MENTOR
&#8212; 18 to 100+ years old</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have found that a natural progression in the learning process is to want to pass the knowledge on to others. In the traditional education
system this is challenging, as the academic system is directed towards research and graduate degrees, with university lecturers and faculty
requiring a masters or doctorate in order to be able to teach. This can be a missed opportunity for students to learn vital real-world
experience from mentors who have developed skills in their area of vocational expertise but who have not had the interest or inclination
to take the academic path to qualify as a teacher. We have grown more than 14,700 partners and 2,500 faculty through the natural path
students have taken to rise to a mentor level within our community. GeniusU mentors have the ability to earn on the platform, either
as a regional partner (as an event host, City Leader or country partner), or as a faculty member (as a mentor, instructor or curriculum
partner). Each of these positions come with an annual license fee, a percentage of revenue and certification courses to ensure our partner
community and faculty reaches a level of proficiency within our network.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mentors
also receive ratings from their students, as do their courses and products, ensuring that students are always learning from the faculty
and courses that are most relevant and ensuring that the curriculum is always staying updated and relevant. While teachers in the traditional
education system are limited by their class size, the impact they can have and the amount they can earn, our GeniusU platform and global
community enables our best mentors to reach a global audience and we have many examples of faculty and partners who have built multi-million
dollar education businesses as a result of our system.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
important component to GeniusU and our Genius Curriculum is the modular nature of the courses, which enable partners and mentors to build
and launch new modules, and the progression path from one level to the next, which enables students to map and track their own personalized
pathway.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have designed the partner pathway using the same methodology, with two distinct partner types and three levels of partnership, training
and certification. Most of our partners and all of our Acquisitions are following this same methodology when building their partner pathway.
The two partner types and three partner levels are:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community
Partner: </b>Primarily interested in either hosting events, courses, schools and building a learning community, while inviting Faculty
Partners to deliver the courses, Community Partners earn between 10% to 30% of revenues in commissions from the courses they host. The
three partner levels for Community Partners are:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    One: Event Host </b>&#8211; An annual license and training to build a community and host events. We also use the term &#8216;Event
    Sponsor&#8217; for companies who support the events with sponsorship in the form of funding or support.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Two: City Leader </b>&#8211; An annual license and training to develop a community and school.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Three: Country Leader </b>&#8211; An annual license to develop a network of schools.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Faculty
Partner: </b>Primarily interested in educating their students and delivering either their own courses or the courses they are certified
or licensed to deliver, Faculty Partners each between 10% and 70% of revenues in commissions for the courses they create or deliver.
The three partner levels for Faculty Partners are:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    One: Mentor </b>&#8211; An annual license and training to deliver a specific set of courses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Two: Lead Mentor </b>&#8211; An annual license to training to build an education business based on a specific set of courses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
    Three: Product Partner </b>&#8211; An annual license to co-create content for different industries or countries. We also use the
    term &#8216;Genius Partner&#8217; to refer to Product Partners who have built their education business into revenues over $1 million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have found the benefit of building this modular approach is that it enables us to grow both our student base and our faculty network
to cater to both the demand and supply for the courses on GeniusU.</span></p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ENTREPRENEUR
RESORTS &#8212; All Ages</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to our college and university model, we have developed a series of location-based models that provide learning in environments
very different from a traditional classroom or seminar room. Entrepreneur Resorts provide venues for our workshops and retreats, while
also being a meeting place for our global community of students and entrepreneurs. All venues have a similar range of products and services,
which include accommodation packages, our Genius Cafe menu of healthy food and drinks, and a full event schedule including accelerator
programs and camps.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
venues include: Vision Villa Resort, a 15-room spa resort in Bali; Tau Game Lodge, a 30-room safari lodge in South Africa; Matla Lodge,
a 7-room high-end private lodge neighboring Tau; Genius Cafe, a beach club and cafe in Bali; and Genius Central, a cafe, bar and event
space in Singapore. Each venue has catering, event and conference facilities. For further details on the three campus venue models in
Entrepreneur Resorts, refer to the &#8220;Additional Company Information &#8212; Entrepreneur Resorts&#8221; section below.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to spin-off entrepreneur resorts in 2023 to focus on our core business &#8211; education.</span></p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ANNUAL
CALENDAR AND EVENTS &#8212; All Ages</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we are building a full life-long learning curriculum with 33 levels over 6 stages covering Prep, Primary, Secondary, Apprentice,
Entrepreneur and Mentor. All of our courses and curriculum at each level follow an annual calendar with four quarters. Within each quarter
we conduct a quarterly certification at each level with two monthly microschools per quarter together with practical application within
projects and businesses.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
part of our curriculum, students earn learning credits called Genius Entrepreneur Merits (GEMs) throughout each quarter, and these go
towards their diplomas. Students graduate from one level to the next by achieving the necessary academic and practical credits at each
level. The GEMs they earn act as a digital credit which they can use to either purchase additional courses, products, mentoring or to
retake the level they are on in the event they fail to pass it.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have grown GeniusU to 3.11 million students as at December 31, 2022 through a &#8220;freemium&#8221; model by which students and partners
join the platform for free and then over time a percentage of them upgrade to paid courses, products and certifications.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
&#8220;freemium&#8221; model is now common with online gaming companies and social networks, as it enables users to trial the value of
the content and community before committing to paying for additional value. In traditional education, this is not yet a commonly adopted
model, and students at many schools, universities or training institutions are generally expected to commit to payment before experiencing
the course or education pathway.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
pathway our students on GeniusU follow is illustrated in the following graphic:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_004.jpg" alt="" /></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">More
recently, Edtech companies, including the companies in the &#8220;Our Competition&#8221; section below, have introduced a &#8220;freemium&#8221;
model into the education industry. We have found at GeniusU that by focusing on this model, attracting students into free courses and
then building a community and content that encourages them to stay and for a percentage to upgrade to paid courses, it results in the
following benefits:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Group can scale far more rapidly with students joining for free online than by relying on an enrolment sales team (which is what most schools and universities rely on).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We attract free students at a much lower marketing cost per student, and as they experience our community and courses they refer their family, friends and colleagues to join.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The heightened activity and scale of this approach in turn attracts more partners and faculty who join the platform, who in turn attract more students.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This network effect enables us to deliver courses to a much wider and more global student body than we could with a tradition enrolment process.</span></p>


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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that as we continue to focus on this approach, we will find effective ways to reduce the marketing cost per student, increase
the conversion rate and increase the annual revenue per student and lifetime value per student. By applying this same conversion model
to our Acquisitions, we also believe they will benefit from attracting increased student numbers and increased partners and faculty delivering
their courses globally.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also believe that the &#8220;freemium&#8221; model will lead to a higher quality of free courses as well as paid courses in our curriculum,
as the strength of our student retention and conversion rates will be more dependent on the students experiencing a high enough quality
of course content and a relevant enough personalized pathway to want to upgrade to higher priced courses as a part time or full time
student than it will on the strength of an enrolment team.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Student Conversion Model: </b>Of the 3.11 million students on GeniusU as at December 31, 2022, 3.06 million were free students and 43,136
were paying students. In the fiscal year ended December 31, 2022, GeniusU attracted 444,290 new students and 5,755 new paying students,
representing a 1.3% conversion rate. While some students join through word-of-mouth or referral, students also join through our direct
marketing spend via Google and Facebook. We track our monthly student intake, acquisition cost and activity over the first 12 months
and 24 months, and measure their average spending over these periods.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
our main student marketing activity for the period from January 2019 to December 2021, every $1,000 in marketing cost delivered 7,703
new visitors and 1,326 new free students who registered on GeniusU as a result of this marketing. From these free students, we saw just
over 1% convert to paying students, generating $1,860 in revenue in the first 12 months as they purchase their first courses or events,
and $20,501 in revenue in the first 24 months as they upgrade to higher priced courses and diploma programs. This equates to a $0.76
marketing cost per student and $15.46 revenue per student within 24 months.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_005.jpg" alt="" /></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
calculations for the marketing cost per student, 12-month revenue per student and 24-month revenue per student, together with the calculations
for our partner conversion model below, have been calculated specifically for GeniusU, as we have sufficient data for such calculations.
Our plan is to measure and track these measures for each Acquisition as we apply this conversion model to each company.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
intention is to be able to accurately measure the average lifetime value of our students. However, we do not yet have enough years of
history to have an accurate measure of the average length of time that our students will remain with us for, or how much they will spend
with us during their lifetime with us. For this reason, we have not yet included lifetime value metrics in our Operating Data in this
Annual Report, but we plan to do so in the future.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have also not included the 24-month revenue per student metric in our Operating Data as it is a relatively new measure for which we do
not have multiple years of data. However, this year we are tracking this metric together with revenue numbers for 36 months, and will
be introducing this data into our Operating Data in the future for all our companies.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are additional metrics shown in the graphic above which we have also not included in the Operating Data table in this Annual Report,
including the marketing cost per free student or annual revenue per free student in our Operating Data. This is because the Acquisitions
do not yet follow a freemium model with the exception of Property Investors Network, and so these metrics are not yet relevant to these
companies. Once the acquisitions are completed, we will be introducing free courses and personalized student pathways for each of the
Acquisitions on GeniusU and we will then be tracking these metrics together with conversion rates. Based on our growth plans, which are
provided in more details below, our goal is for the introduction of the freemium model to result in an increase in student numbers and
a decrease in the marketing cost per paying student for each of the Acquisitions.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Partner Conversion Model: </b>In the same way that we will be introducing our Student Conversion Model to our Acquisitions, we will also
be introducing our Partner Conversion Model. This will enable each Acquisition company to connect with the 14,700+ partners and 2,500+
faculty currently in our Group, and will enable them to attract new partners and faculty on GeniusU. As a result, we will be delivering
their courses globally with the students and partners we attract.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Most
of our partners on GeniusU begin as students, and then choose to join our faculty or partnership program. We also run marketing campaigns
to attract faculty members and partners to GeniusU. At the end of December 2022 we had 13,005 partners on the platform. We track our
monthly partner intake, acquisition cost and activity in a similar way to how we track our students, and in the last two years we have
measured the revenue they generate for GeniusU in their first 12 months and 24 months.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_006.jpg" alt="" /></span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
our main partner marketing activity for the period from January 2019 to December 2021, every $1,000 in marketing cost delivered 1,540
new visitors and 38 new faculty and partners on GeniusU as a result of this marketing. From these partners, we also saw just over 1%
pay for certification courses on GeniusU, generating $46,702 in partner revenue for GeniusU in the first 24 months. We also saw these
partners attract an additional 1,520 new students during this period. This equates to a $26 marketing cost per partner and $1,229 revenue
per partner within 24 months.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
discussed in the Student Conversion Model section above, there are metrics included in the graphics that are not yet included in our
Operating Data Table, including the 24 Month Revenue per partner and the Return on Ad Spend (ROAS). These have not yet been included
for the same reasons, but we plan to include them in the future together with a calculation of Partner Lifetime Value, once we have accurate
metrics over a long enough time frame for all companies.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
primary focus for us is to improve on our student and partner conversion rates both through optimizing our Edtech platform, and by combining
our student and partner conversion models with our acquisitions to lower our acquisition costs and increase our lifetime value. Below
we explain how we aim to achieve this for each company in the Group.</span></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Four-Step Growth Model</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
each of the companies in the Group, we are following a four-step model of acquisition, integration, digitization and distribution:</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_007.jpg" alt="" /></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Acquisition:
</b>By acquiring the company we are able to combine each company&#8217;s courses and products into our curriculum, and to tailor them
to the needs of our global community. We believe this will increase the lifetime value of our students.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Integration:
</b>By integrating each company&#8217;s courses and products on our GeniusU Edtech platform, and by connecting our student and partner
conversion model to each company&#8217;s products, we aim to reduce the student and partner acquisition cost for each level of our curriculum.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Digitization:
</b>By digitizing the courses and products for online delivery, we aim to scale each company&#8217;s product offerings globally.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Distribution:
</b>By providing the courses in modular form, with the opportunity for partners and faculty to participate in marketing and facilitating
the delivery of each company&#8217;s courses and products in the countries and cities where we have our Genius communities. Please see
in the &#8220;Partnership Strategy&#8221; section below details of the different partnership types for our various companies.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have seen the effectiveness of this four-step growth model in the Pre-IPO Companies:</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to acquisition, Entrepreneurs Institute was delivering in-person events and mentoring to entrepreneurs. It was limited in its ability
to grow through typical bottlenecks faced by schools and training companies: Student attendance was limited to where events and courses
were held, course sizes were limited to venue space available and the number of courses was limited to the number of faculty members
who could teach.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
acquisition, Entrepreneurs Institute courses and products were fully integrated into GeniusU. Students were able to join from anywhere
at any time, courses were digitized to be delivered part-recorded and part-facilitated, and faculty were able to join and get certified
to deliver the courses from anywhere around the world.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
model that we used to acquire, integrate, digitize and distribute the courses and certifications for Entrepreneurs Institute is the model
we are now repeating for the Acquisitions. The conversion of Entrepreneurs Institute from an event-based training company to a freemium
Edtech model has resulted in the following outcomes:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    development of the Genius Test, the Passion Test and the Purpose Test into free online tests has increased student intake from an
    average rate of less than 50 new students per week to over 2,000 students per week as of December 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    migration of in-person events to online summits has increased event registrations from less than 1,000 attendees per year to over
    20,000 attendees per year as of December 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    digitization of trainer certification to online certification has resulted in over 1,000 faculty members being certified as Flow
    Consultants and Performance Consultants globally.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    modular, digital format of the Entrepreneurs Institute courses on GeniusU together with our partnership strategy has attracted Country
    Partners translating and delivering them in Japanese, Chinese, Thai, Mongolian, Spanish, French, Swedish, Polish and Czech. It has
    also attracted over 50 City Leaders who are hosting regular events and online communities while marketing Entrepreneurs Institute
    products and courses in their cities.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to acquisition, Entrepreneur Resorts was already working in partnership with GeniusU to provide venues for GeniusU&#8217;s faculty and
students, with revenue generated from accommodation and food &amp; beverage. Traditionally in education and training companies, venue
hire and catering costs are a large part of student spend and often a high cost of sale for these companies. Following acquisition, Genius
Group gains the benefit of these additional revenue streams for GeniusU students who attend courses, events and retreats at our Entrepreneur
Resorts campuses. GeniusU also gains the benefit of an ongoing source of new students from each campus. In turn, Entrepreneur Resorts
has benefited from the acquisition with the following outcomes:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneur
    Resorts hosted GeniusU events and courses live at its venues, including hosting the Global Entrepreneurs Summit, Global Investors
    Summit and Global Educators Summit, and the 2020 series of Microschools. This attracted new visitors to its venues in Singapore and
    Indonesia.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    resorts in South Africa and Bali received bookings from GeniusU partners and faculty for courses and retreats, including the Impact
    Investor Retreat, Wealth Dynamics Masters and Young Entrepreneurs Academy.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venue
    partners from GeniusU&#8217;s partner community have applied to launch new campus venues in countries around the world including
    Japan, Australia, Greece and England. In addition, city hosts and City Leaders in various countries are presently seeking venue partners
    to work with in order to launch campus venues in their city. This is resulting in community-led efforts to bring our courses and
    curriculum to cities at a local level.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are in the process to spin-off Entrepreneur resorts and focus on our core business, education.</span></p>

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


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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the completion of the acquisition, Education Angels&#8217; revenues had been limited to delivering its home childcare and education
program in New Zealand. We are now integrating Education Angels&#8217; parenting courses, educator certification on GeniusU. This will
enable us to provide to our global community of students and partners an education offering for parents of children up to 5 years old,
while linking our conversion model to Education Angel&#8217;s products.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe this integration with Education Angels&#8217; updated product range and GeniusU&#8217;s student and partner conversion model
to include the following benefits:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    launching the Young Genius Test, Parent Genius Test and Parenting microdegrees based on Education Angels&#8217; education principles
    and programs, we will grow the global intake of parents with children up to 5 years old joining our free education products and courses.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    launching online certifications on GeniusU for Angel Guides and Angel Educators, we will attract partners and faculty around the
    world who will be using Education Angels&#8217; education tools and courses via GeniusU.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    integrating Education Angels&#8217; early learning courses into our curriculum and partner pathway, we will attract a similar growth
    in community partners for Education Angels as we have seen for Entrepreneurs Institute. This includes in country partners, where
    we have already attracted partners for our Genius School courses and certifications in Australia, New Zealand, Thailand, England
    and the United States.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the completion of the acquisition, E-Square Education&#8217;s revenues had been limited to delivering its primary school, secondary
school and vocational college offerings in South Africa. Following the acquisition of E-Square Education, we plan to integrate E-Square
Education&#8217;s individual courses, Microsoft certifications and full year-by-year primary and secondary school curriculum on GeniusU.
This will enable us to provide to our global community of students and partners an education offering for parents of children up to high
school diploma and vocational certification level, while linking our conversion model to E-Square Education&#8217;s courses.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe this integration of online versions of E-Square&#8217;s courses and teaching methodology with GeniusU&#8217;s student and partner
conversion model will result in the following benefits:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
    the integration is successful, E-Square&#8217;s most popular courses with our Genius School curriculum on GeniusU, we will grow the
    global intake of parents and students our free education products and courses suited for primary school and secondary school.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    extending our Genius School online certifications on GeniusU for Genius Guides and Genius Educators to include facilitating and teaching
    E-Square courses, including Microsoft certifications, we will attract partners and faculty around the world who will be able to deliver
    this expanded offering via GeniusU. This can further be extended into a teacher pathway leading to teacher certification and up to
    a master&#8217;s degree in education at the University of Antelope Valley.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
    the integration of E-Square&#8217;s teaching methodology, where students meet in person or virtually and track all their learning
    on their mobile phones while being supervised by a group of faculty members, into our GeniusU platform. This will enable us to provide
    our faculty with the option of teaching courses to students at all ages either online, via virtual live microschools, or in person
    with a small group, or at one of our campus venues with a large group. This flexibility in delivery for both faculty and students
    is an important part of our vision for our Genius curriculum.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">University
of Antelope Valley</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the completion of the acquisition, UAV&#8217;s revenues had been limited to delivering its certifications and degree programs to the
students who physically enroll at their location in Lancaster, California. Following the acquisition of UAV, we are integrating UAV&#8217;s
various certification and degree programs on GeniusU. This will enable us to provide to our global community of students and partners
an education offering at college and university level, while linking our conversion model to UAV&#8217;s courses.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe this integration of UAV&#8217;s most relevant courses with GeniusU&#8217;s global community and student and partner conversion
model will result in the following benefits:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    providing free courses and low-cost certifications delivered with UAV&#8217;s faculty and course content, we plan to grow a strong
    community of students globally experiencing UAV&#8217;s programs, with the option to progress to paid diploma courses either online
    or on campus in UAV. In time, we also plan to make UAV&#8217;s courses available via our certified faculty and campus venues around
    the world.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    we have explained in our Curriculum section earlier in this Annual Report, we are extending our popular Education Festival model
    to high demand industries including Fintech, Edtech, Medtech, Greentech and Spacetech. We plan to utilize the university campus at
    UAV to deliver live portions of the summits, microschools and microcamps related to this model, which can then be either attended
    live in Lancaster, virtually on GeniusU or in a city circle with our community partners.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    integrating UAV&#8217;s business and medical certifications and degrees into our Genius curriculum we can develop concentrations
    in high demand areas including entrepreneurship, education, technology and health, together with a focus towards high demand industries
    including those mentioned above.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the completion of the acquisition, PIN&#8217;s revenues had been limited to delivering its events and education programs to property
investors in England. We are now integrating PIN&#8217;s event model and property investment education programs on GeniusU. PIN&#8217;s
model and bottlenecks to growth are very similar to those faced by Entrepreneurs Institute prior to Genius Group&#8217;s acquisition.
As the acquisition of PIN has been consummated, PIN&#8217;s growth is expected to grow in a similar way, with students being able to
join from anywhere at any time, PIN courses will be digitized to be delivered part-recorded and part-facilitated, and faculty will be
able to join and get certified to deliver the courses from anywhere around the world.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe this integration of PIN&#8217;s community, events and courses with GeniusU&#8217;s student and partner conversion model will
result in the following benefits:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    launching the Investor Genius Test together with free courses, we will grow the global intake of students interested in PIN&#8217;s
    courses, including financial literacy and property investing.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#10146;</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
    already has a successful Event Host model in the United Kingdom, with 50 Event Hosts managing monthly events for the property investor
    communities in their cities. By extending this model to cities globally and migrating their event management system to GeniusU, we
    plan to scale what has proven to be a successful model in the UK to other countries where students are seeking a like-minded community
    and an effective education in property investing.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    integrating PIN&#8217;s current course offerings to other countries around the world via GeniusU, and providing certifications for
    faculty members to facilitate and guide students in this education, we believe we can scale PIN&#8217;s model in a similar way to
    how we are scaling Entrepreneurs Institute&#8217;s courses.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the completion of the acquisition, RF&#8217;s revenues had been limited to producing documentaries and docuseries. We plan to integrate
RF&#8217;s film format model as a medium on GeniusU. As the acquisition of RF has been completed, RF&#8217;s growth is expected from
additional projects and developing new curriculum on GeniusU. RF&#8217;s courses will be digitized to be delivered part-recorded and
part-facilitated, and faculty will be able to join and get certified to deliver the courses from anywhere around the world.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe this integration of RF&#8217;s viewers and community, events and courses with GeniusU&#8217;s student and partner conversion
model will result in the following benefits:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    launching the Investor Genius Test together with free courses, we will grow the global intake of students interested in additional
    courses, topics ranging from property investing to Education.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RF
    already has a successful Studio model, films are digitized for online delivery.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    integrating RF&#8217;s content, it can be distributed to other countries around the world via GeniusU, and providing certifications
    for students.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further details on the different student courses our partnership certifications that we are running, please refer to the Curriculum section
of this Annual Report.</span></p>

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

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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
historically the education and training market has been seen as separate markets, more recently they have been combined into one global
education market. The entire pre-school, school, tertiary, adult education and corporate training market are one collective marketplace
that is being disrupted by Edtech, new technologies, such as AI, and advances in the science and psychology of learning.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
to HolonIQ, the global education market is set to reach at least $10 trillion by 2030 as population growth in developing markets fuels
a massive expansion and technology drives unprecedented re-skilling and up-skilling in developed economies. This is from the current
market size of $2.5 trillion. It estimates that in the next decade the global education section will see an additional 350 million post-secondary
graduates and nearly 800 million more K-12 graduates than today. We believe that Asia and Africa are the driving force behind the expansion.
HolonIQ further states that the world will need to add 1.5 million teachers per year on average, approaching 100 million in total in
order to keep pace with the unprecedented changes ahead in education around the world.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alongside
the growth of the education industry, Edtech companies are also growing rapidly. In 2021, a record $20.1 billion of funding was raised
by Edtech companies globally, representing a 34% increase on 2020 according to BrightEye Ventures EdTech report alone. However, we believe
that only few are focusing on creating a brand-new curriculum, and that none are focusing on creating a 21<sup>st</sup> century curriculum
that is student-centered and entrepreneurial in the way that the above-referenced World Economic Forum white paper has articulated. We
believe that most are providing courses delivering skills- based training or vocational training or serving as digital platforms for
existing institutions and their existing curriculum &#8212; which simply means delivering an outdated education system faster and cheaper.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg51-110_008.jpg" alt="" /></span></p>

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

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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that company-funded education market is growing rapidly, with the growth of Edtech companies Guild Education and BetterUp, which
receive corporate funding to up-skill employees with degrees, certifications and mentoring.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
goes beyond the traditional corporate training market towards partnerships with the education sector for employees to receive courses,
mentoring, certifications and degrees that are delivered online and during office hours. In 2021 and 2022, companies including Go1, eLearning
Brothers and Degreed all experienced significant growth in this market.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
the unemployment crisis, skills gap, student debt crisis, and the number of unemployed school leavers and graduates continues to grow,
this trend of companies paying for a more effective education system to up- skill their workforce and prospective recruits will continue
to grow.</span></p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Self-Funded
Entrepreneur Education</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that the education market has traditionally led to one of two pathways. Either to further academia or to potential employment.
Education does not prepare students for the increasingly viable third option, starting a business. According to McKinsey, 20-30% of the
U.S. and EU workforce is already involved in the gig economy &#8212; where they are self-employed or outside of traditional employment.
That already accounts for 165 million workers in the U.S. and EU alone.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on the gig economy continuing to grow at current rates, MBO reports that more than 50% of the U.S. workforce will be in the gig economy
by 2023. Every worker that chooses to find ways to generate their own income is seeking education on the best strategies to achieve this.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that self-funded lifelong education has become a significant growth sector in the midst of the COVID-19 pandemic, with Edtech
market leaders Coursera, Masterclass and Udemy targeting this market. All three platforms provide online skills-based courses, certifications
and in Coursera&#8217;s case up to undergraduate degree level.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
second trend, like the first, represents a major growth in adult education. It is through these first two trends that Genius Group has
achieved the growth rate that it has as the first phase of our growth strategy. However, we have taken a blended approach to Edtech to
earn a larger part of the education market than pure Edtech companies can. According to Holon IQ, Edtech is growing at 16.3% annually
and will grow 2.5x from 2019 to 2025, reaching $404 billion in total global expenditure. Impressive as the growth is, Edtech and digital
expenditure will still only make up 5.2% of the $7.3 trillion global education market in 2025.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
third fast-growing trend is the growth in licensed certifications and degrees in partnership with the leading institutions and universities.
We believe that most of the traditional colleges and universities are aware that their business model is being disrupted. However, most
do not have the leadership or technology to compete with the fast-growth Edtech companies that are disrupting their industry. As a result,
most are willing to enter into partnerships to have their existing certifications delivered online on a licensed basis.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Online Program Management model (OPM) is growing into a $7.7 billion market by 2025. As explained by HolonIQ in their February 2019 report
&#8220;The Anatomy of an OPM and a $7.7B Market in 2025&#8221;: &#8220;Online degrees are one of the fastest growing areas of higher
education. OPM providers help universities build, recruit for and deliver online programs. Revenue share is the dominant model with fee
for service and hybrid relationships growing. 60+ operators in a $3B+ market growing at 17%.&#8221;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are 60+ Edtech companies competing in this space, with Coursera and edX being the largest. However, there are also private universities
throughout Asia that are also licensing degrees from universities and then delivering these degrees locally at a fraction of the cost
of attending the university itself. We have already built a strong revenue stream by offering certifications and our growth strategy
includes partnering with the top institutions to provide relevant certifications and degrees via GeniusU and our locations.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to the three trends above, which are impacting the education system above primary, middle and secondary school, we believe that
the entire schooling system is also being disrupted by the shift to more online learning. The COVID-19 pandemic has accelerated this
disruption.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
four largest Edtech companies in the world today, BYJU in India, and Yuanfudao, Zuoyebang and VIPKid in China are all online tutoring
apps to supplement student learning.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
growth to digital schooling is taking place alongside a surge in homeschooling, as parents discover the benefits and ease of educating
their children from home. A recent Forbes article reported &#8220;The number of children being homeschooled has more than doubled in
five years, and in some areas has risen by more than 700%.&#8221;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group is benefiting from this growth as it expands its pre-school, primary school, middle school and high school programs, together with
our virtual camps.</span></p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microschools,
Learning Pods and Blended Learning Models</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Microschools,
learning pods and blended learning are the three buzz phrases that are growing virally in 2021 and 2022. Microschools are schools that
are based around a teacher instead of a location or classroom, where each microschool may have only five or ten students. Learning pods
are home-based groups of students who are following a particular class or curriculum online while gathering together for social learning.
Blended learning is the combination of both online and offline learning to get the best of both worlds.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
see the future of work and education as being a spectrum of options which can be personalized to suit each person&#8217;s work style
and learning style. We believe the trend will continue to move towards a blended approach where it will be just as important to have
high-tech as well as high-touch options for faculty and students to choose from. This will mean that not only will the current local
school and classroom model become less popular amongst the options available, but the purely online Edtech companies will need to either
compete or partner with the companies that deliver a more blended approach.</span></p>

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


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

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Personalized
and AI driven education</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
recent World Economic Forum article titled &#8220;How technology will transform learning in the COVID-19 era&#8221; sums up the future
of education as: AI + community = future of learning.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
goes on to say &#8220;All of us have a fundamental need to belong, learn and share. We need meaningful communities, because they are
force multipliers. They make learning fun and create a peer-to-peer accountability mechanism that shapes a culture of learning. AI enables
personalization at scale. Only by combining both AI and communities will higher education be relevant and prepare students for the adventures
of the Fourth Industrial Revolution.&#8221;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
there is general agreement that personalized education is needed, and that artificial intelligence can help us to deliver it, the two
unique competitive advantages that we believe we have in leading in this area is that we have built a global community who are already
experiencing their virtual personal assistance &#8220;Genie&#8221; on GeniusU, and they are willingly providing us with the data from
personality assessments and progress assessments that enable us to deliver relevant recommendations to get them to where they want to
go. This leads to our tagline: &#8220;You don&#8217;t need to know every step. You just need to know the right step to take right now.&#8221;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that while harnessing the first trends mentioned above help us to maintain our growth rate in the next five years, artificial
intelligence and personalized learning will disrupt and transform the education industry. The era of one-size-fits-all education will
end and be replaced by the school of one.</span></p>

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

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

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Edtech Platform</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
GeniusU platform has grown over the last five years to be the backbone that connects all the companies in the Group. Each student has
their own profile page with their photo, details, talents, passions and purpose (test results, groups, connections, attendances). Each
has their own dashboard to track their learning, and access to all the microschools, microdegrees and products globally.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
students, GeniusU operates as a combination of a learning management system, a social network and a productivity tool, giving them simple
ways to up-skill themselves in specific areas while also giving them tools to assess their progress, track their financials and find
their team.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
faculty and partners, GeniusU operates as an &#8220;Amazon for Entrepreneurs&#8221; where they can set up shop and operate their microschool
or training company on our platform. They can list their courses and products, manage their community, receive payments globally and
pay out to partners and track all their data. As with Amazon, the rankings of all faculty and programs by students ensures the best and
most trusted programs always rise to the top.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that this combination provides us with a powerful network effect where the more students we attract, the more faculty we attract,
and the more faculty we attract, the more students we attract. In our niche of entrepreneur education, we believe that we have not yet
seen any competitor who has come close to matching our scale globally.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we are offering a unique entrepreneur education curriculum that solves a global need. We own what we believe is one of the
world&#8217;s most widely used range of entrepreneur assessment tools including Wealth Dynamics, Talent Dynamics, the Impact Test, the
Genius Test, the Passion Test and the Purpose Test based on the number of tests taken. These have been taken by over one million entrepreneurs
globally, and they enable us to provide personalized education pathways tailored to each individual student.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
combined products of our nine companies deliver a full lifelong learning curriculum that we are developing into a full global curriculum.</span></p>

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


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

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have breadth and depth of strength in our global team. Our Board members have experience and skills in building and listing companies,
with eight international initial public offerings between them and over $2 billion in capital value created. Our management team has
extensive experience in managing and mentoring entrepreneurs and entrepreneurial teams, with our teams based globally in Singapore, Australia,
New Zealand, Japan, Indonesia, India, South Africa, the U.K., Portugal, Poland, Ukraine, the U.S. and Canada.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that our 2,500+ faculty are leading entrepreneur teachers, trainers and mentors around the world with their own schools and training
organizations established often before joining our faculty. Our 14,700+ partners are strong advocates for our courses and programs, ensuring
a broad base of growth opportunities. As hundreds of investors who have funded our growth to date, many of our faculty and partners began
as students before becoming our supporters. We believe that this breadth and depth of leadership gives us an ongoing leadership position
in our field.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
niche focus on entrepreneur education has enabled us to build what we believe to be a strong position within the global market, based
on the 3.1 million students that our Pre-IPO Group has attracted as at December 31, 2022. The challenge for many education and Edtech
companies is that they need to overcome the regulatory hurdles of their country&#8217;s education system or the operational hurdles of
needing to build partnerships or clients one-by-one. By beginning in the entrepreneur education niche, we have attracted decision makers
virally who are willing to invest in their own education and based on the Return on Investment (ROI) they receive from our courses and
training, they return for more and refer us to others, building both lifetime value and vitality.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
majority of the fast-growth education and Edtech companies are focused on a specific country, whether the U.S., China or India, or on
a particular niche, whether primary, secondary, tertiary or adult education. As a result, they are limited in market size or in their
share of the education spend of their students. With our chosen niche, we believe we will be able to capitalize on the growing entrepreneur
movement together with the growing demand for a relevant, 21<sup>st</sup> century education system, towards our aspiration of delivering
a lifelong curriculum.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Venture Builder Structure</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
structure has enabled us to create a high-value, high-growth environment in which each company can be valued effectively relative to
its peers, while also increasing the value of each Group company by the level of digital marketing, data intelligence and global growth
it can immediately deliver to each new company.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
education company within the Group can also maintain its focus and maximize its value as high- growth profit centers within the Group.
The leadership, metrics and management required to manage each resort or cafe separately is different to that required for each of our
college or training companies. The combination of our leadership, with our modular structure, and our ongoing education programs which
all our staff participate in, has led to a robust, scalable growth model where we operate effectively more as a group than one entity.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Blended Approach</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that the two fastest growing industry trends in education are company-funded education and self- funded education. GeniusU is
uniquely placed in these two fast-growing trends. We attract both the company- funded education sector and the self-funded education
sector, and we do this across 200 countries. We believe that we are also the only platform that has its own lifelong entrepreneur education
curriculum, and that provides a global community for entrepreneurs and qualifies for government funding via our partners. Genius Group
is an ecosystem with its own curriculum and an Edtech company at its center. This enables us to combine high-tech and high-touch solutions
both through partnerships and our own companies.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
already deliver a spectrum of options, from fully online courses and certifications, to faculty-led microschools, to city-based learning
pods, to in-home tuition, to on-site campuses. Credits earned in any one of these models are fully transferable and collectively accounted
for, wherever and whenever they learn. This enables any faculty member or student to switch models as their circumstances or preferences
change, and it enables us to grow our community while evolving and adapting to our students&#8217; preferences.</span></p>

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


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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
blended approach, together with our acquisition strategy, also gives us direct access to government education funding in the various
countries where we are expanding.</span></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
result of our growth to date has been a global community in which each microschool is attended by students from an average of 20 to 30
different countries. The scale and diversity of our student population, which has grown to 3.1 million students, is one of our greatest
strengths. The success stories that come from our community is as much from the connections that are made and opportunities shared as
from the courses and learning.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have seen companies grow from startup to multi-million-dollar successes. Examples include companies such as Wealth Migrate, CrowdProperty,
WebinarVet and Bank to the Future, all of which were birthed at Genius Group courses and accelerators. Three of the companies that we
have acquired, Education Angels, E-Square and Property Investors Network, all experienced significant growth as a result of our courses.
We have seen children go into partnership with their parents on businesses and investments. We have seen couples form and get married.
While the traditional education system sees bonds break when students graduate, Genius Group has no alumni, as our students remain students
for life and with that longevity comes a level of loyalty that we experience daily.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Data and Systems</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
the beginning we were aware that the key to personalization was in the quality of our personal data. Our goal has been to go beyond learning,
and to transform education into a hospitality industry. We believe that the experience of too many students is that they do not feel
like a valued customer in the education process. To achieve our goal, we focused on a robust, scalable data management and intelligence
system.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salesforce
currently provides our underlying Customer Relationship Management (CRM) system to which we have connected our GeniusU platform.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have shared best practices in our data management and connected all our customer data including personal preferences, financial transactions,
learning progress, community connections and all correspondence and conversations among GeniusU, Salesforce and our main social media
platforms, including LinkedIn, Facebook and Google.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
our data is cloud-based and dashboard-driven, empowering our management, our partners and all our customers to manage and track their
progress and update their data.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
First Mover Advantage</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Having
started this journey five years ago, and with most of our operations taking place initially outside of the U.S. and China, we believe
that we have not attracted any notable competitors or imitators in our niche. This has enabled us to grow quietly and through word of
mouth to the point where we now believe that we have strong momentum with a first mover advantage.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
certain instances, companies that considered competing with us came to us instead to partner with us. While we can expect competition
in the future, this critical mass and ongoing momentum is an important focus for us.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Agile Structure</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
relatively hidden competitive strength is the agile leadership structure we have developed as part of our course curriculum over the
last five years. We train entrepreneurial companies to develop cross-functional teams organized around discreet, profitable projects
on a quarterly basis and this system &#8220;Entrepreneur Dynamic&#8221; is the leadership equivalent of scrum methodology for engineering
teams.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
team member is self-directed, rewriting their job description every quarter as a &#8220;personal compass&#8221; and every team is accountable
for their performance and learning on a global &#8220;flight deck.&#8221;</span></p>

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

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

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


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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
system not only enables us to scale rapidly, but also to acquire and align companies rapidly into a highly effective, decentralized leadership
and learning structure. All our staff attend the same microschools and courses as our community, and as a result each is learning self-directed,
entrepreneurial skills on their own personalized path. We see this strength as not only one that will enable us to scale through the
next ten years as we grow Genius Group, but also in the way we are using a similar agile, learning structure to replace the more traditional
hierarchical structure in the education system.</span></p>

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

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

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Three-Phase Strategy</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that our three-phase strategy to disrupt the education industry is simple:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Educate
    entrepreneurs;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expand
    to schools and colleges; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establish
    a full curriculum.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -20.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
our first phase, from 2015 to 2020, we have been focused on entrepreneurs who are willing to self-fund their education. This has enabled
us to grow globally and to self-fund our growth with the same entrepreneurs that we have been educating.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have begun our second phase, from 2020 to 2025, with the acquisition of a series of education-based companies already serving the pre-school,
primary and secondary school markets. We are also running Genius School programs with many of our entrepreneur students enrolling their
children in them.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">And
our goal is to gather enough partnerships and licensing agreements with schools, colleges and universities that gain the benefit of our
GeniusU platform and global community in this phase to then move to our third phase, from 2025 to 2030, when we aim to have our curriculum
accredited in the U.S. and the U.K. as an alternative to the existing Cambridge and K-12 curriculums. This third phase is an aspirational
goal and is not assured, as it is dependent on the success of our second phase, and dependent on us succeeding in getting accreditation
from the accrediting bodies in the relevant countries.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
intention is to be able to deliver a more effective, engaging, relevant and flexible education system at a third of the current price
of education.</span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Blended Edtech Strategy</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are focused on acquiring companies that are leading the way in 21<sup>st</sup> century education, and then accelerating the speed, size
and scale of these companies by connecting their courses, faculty and reach to GeniusU. This increases their enrollments through our
digital marketing, increases their capacity to deliver through global, ongoing faculty certifications and increases their retention through
personalized education pathways.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquisition
Strategy</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2023-24, we will be looking to engage with fewer acquisitions on a larger scale ($50M-$100M), that either bring complementary product
to our GU platform, or technology solutions (Augmented Reality/Virtual Reality) to be incorporated with our product offering, or core
expertise related to our core competency digital marketing and community build up.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have organized all learning within Genius Group into core curriculum and certified curriculum. These are similar to the distinction between
required and elective courses at college.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
core curriculum is the most important courses which we see as being required elements of our curriculum at the primary, secondary, post-secondary
and adult education levels. Our strategy is to acquire the companies that are delivering the courses we see as being part of the core
curriculum, in order that Genius Group opens all intellectual property in our core curriculum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certified
curriculum, on the other hand, are the optional courses and programs that we recommend students take at each level of their progress.
This is delivered by our partners on our GeniusU platform or at microschools, venues, events and retreats listed on GeniusU on a revenue
share basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
acquisition strategy is not only to acquire content to supplement our core curriculum, but also industry certifications and government
accreditation and funding that our acquisition companies have earned over time. The purpose of acquiring education with courses that
have earned certifications and accreditations is in order that our students can eventually:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obtain
    industry-recognized certifications as part of our Genius Curriculum that can enable them to be recognized within their chosen career
    whether they choose to start their own business or take a job with companies operating in the industry. We are initially focused
    on high growth industries where there is a demand from both employers and students for an entrepreneurial mindset together with industry-
    specific skills. These include Edtech, Medtech, Fintech, Greentech and Spacetech.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obtain
    government-recognized accreditation at primary school, high school, college and university level, so that over time our Genius Curriculum
    can progress from a supplement to the traditional education system to a replacement of it. We are initially focused on developing
    a fully accredited pathway recognized in the U.S., as such a system is also in demand by overseas students who seek, for example,
    a U.S. high school diploma or U.S. university degree.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Obtain
    funding where available to bring down the cost burden of their education. This may take the form of government funding such as in
    the case of Education Angels or UAV, or industry funding or corporate sponsorship of vocational certifications.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
details of the course certifications and accreditations that our Acquisitions currently hold, please refer to the &#8220;Further Company
Information&#8221; section below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we have a strong acquisition and integration team to ensure that each acquisition is able to align rapidly with the culture
and leadership systems of the Group. The number of entrepreneurs and companies that we have in our community also gives us a strong deal
flow and talent flow so that we do not have to cold call for the right opportunities for acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Partnership
Strategy</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
our certified curriculum, we attract partners by making it profitable and simple for them to join Genius Group. GeniusU has a partner
dashboard that enables each partner to track their revenues and we pay out weekly for all earnings through the platform. We categorize
partners into marketing partners, who receive 10% to 20% of all course and product fees on GeniusU for marketing the courses, faculty
members, who earn 30% to 50% for delivering the courses, and program providers who earn a 10% license fee for their content, marketed
and taught by others.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
host certification courses on GeniusU, which enables partners to get trained and certified as marketing partners, faculty members or
program providers, and our partners create their own certification programs on GeniusU to grow their own faculty and partner community
globally.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
the exception of Property Investors Network, which has attracted City Hosts to manage local events in a similar way to GeniusU, the other
companies in the Group including the Acquisitions do not currently have a systemized plan to attract faculty partners or community partners,
and the partners they do have are largely accrediting bodies and government institutions. These have been covered elsewhere in this Annual
Report. Our plan is to introduce our partner certification process and conversion model to each of the five Acquisitions, as covered
above in the &#8216;Our Genius Curriculum&#8217;, &#8216;Our Conversion Model&#8217; and &#8216;Our Four-Step Growth Model&#8217; sections
of this Annual Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decentralized
Curriculum</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
critical network strategy in our growth is the design of our decentralized curriculum. The largest challenge of creating an education
curriculum is how quickly it becomes outdated. We believe that most of the current education systems have centralized curriculum design
departments. In today&#8217;s fast changing world, a centralized system quickly becomes a bottleneck.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have designed a decentralized system not dissimilar to Apple&#8217;s App Store. Courses, microdegrees, microschools and certifications
are posted by our program providers and faculty. These are both assessed by our team and rated by faculty and students, ensuring that
the best courses rise to the top of GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result of this, our curriculum will constantly improve as we grow, and the best program providers and faculty and we believe will earn
exponentially more for the best courses. Students also contribute to an ever- improving system, sharing their coursework and entering
our challenges and rewards with their presentations, plans and results, which then become part of the GeniusU library.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that this decentralized curriculum that we grow in value as we grow in scale is a key strategy that will attract an ever-increasing
number of partners and potential acquisitions to our platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Global Team</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, the Genius Group team includes over 573 full-time staff and 14,700+ partners with teams, locations and offices
divided across three geographic regions: NASA, EMEA and APAC. Our teams operate from over 40 cities in U.S., South America, Europe, Africa,
Asia, New Zealand and Australia.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Competition</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
see ourselves as an entrepreneur Edtech and education company. Edtech companies are companies that combine education and technology together
to enhance the process of teaching, learning or both. They typically have the ability to rapidly scale and grow as a technology company.
We define entrepreneur Edtech, as an Edtech company focusing specifically on an entrepreneur curriculum. We define an entrepreneur curriculum
as a course of study that teaches an individual to &#8216;create a job&#8217; by connecting and delivering value to others in a role
aligned to their passions and purpose (either as an employee, contractor, freelancer or business owner) rather than teaching them how
to &#8216;get a job&#8217; by searching for job positions in the employment market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
organizations that deliver such curriculums fall into two main categories. The first are entrepreneur camps, accelerators and business
schools which normally cater to 1,000 students or less per year. Examples of this range from startup accelerators such as Y Combinator
to academic institutions such as Stanford Graduate School of Business. The second are entrepreneur networks that often provide forms
of mentorship and training within their membership. Two of the largest examples of this are the Entrepreneurs Organization (EO) which
has 15,600 members and StartUp Grind which has 3.5 million members. These have a mix of free and paid-for memberships.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that our student base of 3.11 million students at the end of 2022, which grew by approximately 445,000 new students in 2022,
makes us a &#8220;world leading entrepreneur Edtech and education group&#8221; in comparison to these organization based on student numbers.
While we believe that there are no global companies directly competing with us to develop a uniquely entrepreneurial curriculum, there
are comparable companies building an Edtech platform to provide alternatives or complements to the traditional education system, and
also comparable education companies that are growing via acquisition. Such competition includes:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>BYJU:
</i>Currently one of the highest-valued Edtech companies, Byju was valued at $22 billion in March 2022. BYJU is an India-based education
company with a similar freemium model as GeniusU, but with a focus on mathematics and science for primary and secondary school students.
As of April 2023, the company disclosed that it had over 150 million users. It has a similar growth model, making acquisitions and integrating
new acquisitions on its platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Coursera:
</i>The leading Edtech company in the U.S, Coursera is an online program manager for a range of universities, enabling students to take
university courses online. The platform has approximately 5,500 courses and over 118 million learners. It listed on the New York Stock
Exchange in March 2021 and had a market capitalization of approximately $1.63 billion, as at April 12, 2023. Unlike GeniusU or BYJU it
does not create or deliver its own curriculum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Udemy:
</i>A U.S.-based Edtech company with approximately 59 million students, Udemy has grown via its approximate 70,000 instructors who provide
courses and certifications to their students. The platform has a total of approximately 200,000 courses. However, it focuses on adult
learning and does not provide an alternative to the current schooling system, or a global community for students to connect and collaborate.
It listed on NASDAQ in October 2021 and has a current market capitalization of approximately $1.29 billion, as at April 12, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Udacity:
</i>A U.S.-based Edtech company that is focused more on tech-based vocational training courses with over 160,000 students, Udacity is
another Edtech company that we believe has proven that there is a strong need for vocational nanodegrees supported by large tech companies.
Udacity also offers a freemium model giving students an opportunity to enroll for free and pay after one month of access.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>LinkedIn
Learning:</i> LinkedIn purchased the Edtech company Lynda for $1.5 billion, and LinkedIn was subsequently purchased by Microsoft for
$26.2 billion. Similar to GeniusU, Microsoft combined a social network with online courses, but focused mainly on technical and professional
courses, with a flat monthly subscription rate. Like Udemy and Udacity, its focus is on professional adult learning.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Guild
Education:</i> Another billion-dollar Edtech startup, valued at over $4.4 billion in June 2022, Guild Education provides courses and
degrees funded by companies for its employees. Together with similar Edtech companies like BetterUp and Degreed, it is focused on up-skilling
employees who are already in a job, with its education and mentoring funded by its employer as an additional benefit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>China
East Education</i>: China East Education is the first of a series of recent China-based listed companies which are focused on vocational
education, which has also included China Education Group, New Oriental Education and China Online Education Group. China East Education&#8217;s
initial public offering in 2019 raised $625 million and was the largest in the world, underlining the current growth in vocational education.
It has a valuation of approximately $8.2 billion as of April 12, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Technology</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overview</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that Edtech will expand beyond the specific activity of learning, to the application of that learning. We have seen this within
GeniusU where engagement is much higher when students can use the same environment in which they are learning to connect to others, share
their learning, find team members and opportunities, and run their learning projects and challenges on the platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
described below, we believe our technology connects three tech sectors, Edtech, social media and productivity tools, and can be seen
in the features that GeniusU provides to our students and faculty.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Edtech</span>.
Faculty and education partners post their courses on GeniusU, which are then organized and recommended based on student rankings. Students
take the courses and receive credits based on both the student rankings and recommendations from their AI-driven Genie.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Social
Media</span>. All faculty and education companies have their own personal profile pages on GeniusU and receive both recommendations and
ratings from students. Students connect with mentors, team members and partners around the world with their own profiles, with the ability
to post comments in social circles linked to each course, send personal messages and search for the mentors, team members and partners
most aligned to their purpose, passion, talents and interests.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Productivity
Tools</span>. Faculty and education partners have a full suite of productivity tools to run their business on GeniusU, from posting courses
and products to marketing their courses, running their courses, hosting their events, building their community, receiving payments, distributing
commissions and tracking their students&#8217; progress. Students also receive a full suite of productivity tools with their own dashboard
to track their learning, manage their learning, find their mentors and teams and find the right opportunities to pursue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gamified
Learning</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
is designed to make learning engaging and fun, with students undertaking challenge-based learning projects. Microdegrees are pre-designed
online courses that include interactive video, exercises and assessments in which students can track their learning, earn credits, leave
comments, rate the courses and connect with our faculty. Microschools are online courses conducted in real-time over one-week, two-week
and four-week periods in which students start and complete the courses together, sharing their assignments and final work with each other
and competing for awards and prizes if they choose to. Students earn credits called Genius GEMs for contributions they make to the platform,
including credits for making connections, posting messages, leaving testimonials and taking microdegrees and microschools.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Digital
Credit System</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
also has its own digital credit system: GEMs operate as an education credits and reward system on the platform. GEMs are earned in the
same way as credits are earned towards High School diplomas and University degrees. They operate like a loyalty program where GEMs earned
can be used to purchase additional courses, mentoring or resources on GeniusU, or used to retake courses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Artificial
Intelligence</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
currently has a virtual assistant, Genie, to recommend the best courses, connections and actions for each student. We have released our
next iteration of Genie with Chat GPT4, an AI-driven virtual guide that each student can personalize and grow to become their learning
assistant for life. The first stage of this is completed with the development of Genie as a chatbot, and in 2023 are investing in the
underlying data intelligence and AI platform of GeniusU in collaboration with Open.AI to develop Genie into a personalized Intelligent
Virtual Assistant (IVA) with conversational AI, providing each student and partner with personalized advice and feedback based on their
talents, passions, purpose and goals. We are using GPT-4 as our AI engine to build the intelligence of our Genie AI, and plan to integrate
with EinsteinGPT developed by our CRM provider, Salesforce, to segment, target and predict the next steps of our students.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Augmented
Reality and Virtual Reality</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are also developing augmented reality with locational tracking, where entrepreneur students can connect with each other at our venues
and events, directly connecting with the most useful mentors, community members and opportunities in their area. We believe that there
is potential for virtual reality for immersive education and the ability for students to join microschools and programs virtually in
the coming decade. Our goal is for our community, faculty and curriculum to be able to upgrade to new technologies like augmented reality
and virtual reality as they become commercially viable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe the three-dimensional virtual world of the Metaverse will replace the two-dimensional environment of the Internet in popularity,
and we are planning to migrate our community into virtual learning environments as they evolve. We are planning to use the Unity Engine
to develop GeniusU into a virtual world. The Unity Engine is the leading virtual world engine for mobile apps, and is the engine used
by PokemonGo for their popular augmented reality game and by Meta in the development of their virtual reality platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Instant
Translation</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
curriculum and content on GeniusU are already translated into Japanese, Chinese, Thai, Spanish, French, Polish and Czech. We are developing
GeniusU to enable instant translation for both curriculum and communication. This will mean students in most countries will have access
to our global faculty and curriculum on GeniusU in the future, enabling our students to learn and our faculty to mentor across multiple
countries and languages.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Data
Intelligence</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
capture data on all students and faculty with their permission to provide personalized pathways for their learning and teaching. This
includes all personal details and social media, assessment results, learning steps, enrollment, and purchase and payment history, along
with connections, attendance and activity on GeniusU. Our GeniusU platform is linked to Salesforce as our CRM and Stripe as our payment
platform, enabling us to build a powerful data-driven approach to recommend the best connections, courses and learning steps for each
student to take along with the tools for faculty members to attract and engage their students.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Intellectual Property</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd has registered &#8220;GeniusU&#8221;, &#8220;Genius School&#8221;, &#8220;Entrepreneurs Institute&#8221;, &#8220;Talent Dynamics&#8221;
and &#8220;Wealth Dynamics&#8221; figurative trademarks with the Intellectual Office of Singapore using Nice Classification, an international
classification of goods and services applied for the registration of trademarks.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Investors Network has registered &#8220;PIN&#8221; figurative trademark, &#8220;Property Mastermind&#8221; word trademark and &#8220;Mastermind
Accelerator&#8221; word trademark with the Intellectual Property Office Trademark Registry of Great Britain and Northern Island.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
the above-mentioned trademarks are in the process of registration by the World Intellectual Organization (&#8220;WIPO&#8221;) for the
territory of United States of America and European Union. The WIPO is a conglomerate of partner nations throughout the world, and a trademark
that is registered with the organization is known as a WIPO trademark. The purpose of this international trademark is to protect intellectual
property on a global level.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
other companies within the Group have not registered any trademarks.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Community</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
community on GeniusU Platform includes over 3.11 million students across 20,345 cities and 191 countries, meeting online and in over
500 events, with over 8,500 new students joining every week. Our faculty consists of over 2,500 mentors and certified trainers delivering
online and in person education as part of a multi-year curriculum to build entrepreneurial expertise. These include world famous entrepreneurs
and New York Times bestselling thought leaders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
community is an important part of our company, as students return at each stage of their entrepreneurial journey to make new connections
and pursue new opportunities as well as to learn new things. As the value of their experience increases as they bring their teams and
partners with them, there is a high level of referral and word-of-mouth.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have regional leaders that provide local mentoring and community connection in their countries and cities, using our GeniusU platform
in their local area. We divide our global activity into three regions, each spanning eight time zones and collectively covering all twenty-four
time zones. This means our curriculum is open 24/7, and at any time of day there are students learning on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
three regions are: APAC (Asia Pacific, North Asia and Australia); EMEA (Europe, Middle East and Africa); and NASA (North America and
South America). Our community is fairly evenly divided between these three regions. We track the location of approximately 75% of our
students and mentors, and they are spread across the three regions for the period ending December 31, 2022 as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Students</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Paying Students</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%">APAC</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 14%; text-align: right">733,886</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 14%; text-align: right">12,564</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>EMEA</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">677,468</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">12,974</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">452,661</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">11,387</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,244,020</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">3,108,035</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Culture</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have developed a strong culture within our team, partners, faculty and community. This culture is based on six core principles that are
practiced and recognized throughout the organization. They are the primary focus and first point of discussion on our quarterly company
meetings and are the subject of our monthly Genius Shine Awards, in which team members nominate fellow team members based on them practicing
our &#8220;Genius Values&#8221;: global, entrepreneurial; natural; inspiring; unique; and smart.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
way in which we educate our team, partners and community about our culture, enables us to align and lead our team remotely, to maintain
a high level of trust with our partners and community, and integrate new acquisitions effectively into our global family.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
focus on educating entrepreneurs to &#8220;create a job&#8221; instead of &#8220;getting a job&#8221; extends to our own team and partners,
where we have an ongoing focus on developing each of our team, partners, faculty and community and to the next level of their own entrepreneurial
journey. This has led to students becoming mentors, mentors becoming partners, partners becoming team members and team members becoming
students. We believe that it has also led to a strong investor community as our students and mentors improve their own financial success
and choose to reinvest part of this success back into Genius Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
strength in our culture provides an ongoing deal flow, talent flow and resource flow that enables the Group to develop from the ongoing
growth of our community.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sales
and Marketing</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that a key factor in our consistent growth has been our sales and marketing approach. We follow a quarterly schedule of promotions
in which cross-functional teams focus on revenue and profit targets related to their product range and customer base, with a sales and
marketing approach which is supported by a combination of five routes to market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Digital
Marketing</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we have strong digital marketing expertise, which enables us to take the courses of our partners and acquisition companies,
turn them into digital courses, and scale their reach to students around the world. We track students in four categories:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    followers are potential students who are paying us attention by following our free content on social media and by visiting our free
    course pages and videos. We track our followers via cookies and retarget them with relevant content until they become members.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    members are free students who are paying us time by registering on GeniusU for a free account and accessing our curriculum, community
    and free learning tools. We personalize content and engage with our members until they become prospects.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    prospects are potential paying students who have experienced our free courses and are visiting a course enrollment page or booking
    a free discovery call with our faculty with a view to enrolling in a paid course. We invest additional time and attention to prospects
    until they become paying students.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    paying students who are paying us money.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that this digital marketing approach gives us scalable unit metrics with an average cost of acquisition per new student of $1
and a revenue per new student of $15. Our average cost of acquisition per paying customer is $254 and our average revenue per paying
customer is $1,002, giving us a 4x return on marketing spend.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Affiliate
Marketing</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have a strong community of partners and faculty who promote our courses and programs, and earn affiliate marketing fees for new enrollments
and upgrades. We have over 14,700+ partners as of the date of this Annual Report who earn commissions via GeniusU. Our commissions are
paid for different components of the student journey, with up to 20% paid for marketing referrals, 10% paid for the enrollment process,
30% paid for delivery and 10% paid for content.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result, partners can choose one or more parts of the process to be rewarded for, from the marketing, to the sale, to the training,
to their content. This leads to teams in which everyone contributes in the area where they are strongest. This also enables educators
who have strong content to connect with partners with strong communities such that both sides benefit financially.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Referral
Marketing</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
many education and Edtech companies rely on their marketing and enrollment teams to attract new students, we have the added benefit of
viral products to deliver referrals and word-of-mouth. Our free assessments such as the Genius Test, Passion Test and Purpose Test attract
over 8,500 new students weekly who take the tests to discover more about themselves, and then they encourage their teams and peers to
take the tests and connect on GeniusU, where they then find personalized paths for their learning.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
freemium model enables new students to experience GeniusU and the Genius Curriculum for free, and our product pathway then enables them
to take affordable steps into our courses and certifications. This creates a network effect where everyone is able to progress seamlessly
at a level which works for them, and invite others in to join them at each level.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Locational
Marketing</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
global network of local City Leaders and faculty members has led to the word of mouth offline to be even greater than the referrals online.
Many students first hear about our Company from friends and colleagues at local meet-ups and through a connection with a mentor or student.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that this high-tech, high-touch structure of an enhanced real-world learning environment with a digital layer being the future
of education, which will be further enhanced as we develop our augmented reality and virtual assistant tools on GeniusU. We believe that
all of our acquisition companies achieved early success through local marketing, and with the addition of our digital tools each is now
scaling their local marketing globally through local microschools, learning pods, faculty, event hosts and partners.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repeat
Purchases and Upgrades</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
large portion of our revenue comes from returning students and students progressing to the next level of their learning. While we believe
that most education institutions have a limited lifespan per student, Genius Group has a curriculum that a student can follow from early
learning through to adult learning. By also having a seamless continuum between learning, earning and teaching, many of our faculty began
as students and have now progressed on to teaching others. We believe that this &#8220;learning for life&#8221; model gives us a high
lifetime value per student with strong retention and repeat business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Customer
Service</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that modern education has operated largely as a basic service, largely regulated by governments and delivered at low cost and
low service levels, while being high-priced and compulsory. We see the opportunity for disruption in transforming education into a model
more aligned to the hospitality industry, with high levels of customer service and satisfaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
customer service is reflected in the personalized pathways, rapid response rates, personal mentorship and proactive community management
we provide globally. Our local and global teams are trained to deliver a high quality of advice and service. Each leadership team shares
a student story on our weekly global team meeting, keeping the customer experience and the forefront. The high level of service we provide
in our entrepreneur resorts and cafes is extended to our colleges and microschools, and this is a large part of what brings students
back consistently to our community.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
at December 31, 2022 we have 573 employees and contractors, with 18 in Genius Group Ltd, 59 in GeniusU Ltd, 214 within Entrepreneur Resorts
Ltd, 165 in University of Antelope Valley, 26 in Property Investors Network, 35 in E-Squared Education, 20 in Education Angels and 36
in Revealed Films. We operate as one global team with regional leadership, and we established a remote working culture prior to the COVID-19
crisis, which put us in a strong position to manage through the crisis without any major change to our management process.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
illustration, our main leadership team works from Singapore, Australia, New Zealand, Indonesia, South Africa, England, Portugal, Poland
and the United States. Our accounts team operates from Australia and our development team works from India, Ukraine and Poland. Our campus
teams are based in Indonesia, Singapore and South Africa.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
we see our fully employed team continue to grow, when our 573 employees are put in context of our 14,700+ partners, we see our talent
acquisition strategy to be equally focused between the growth and development of our full-time team and growth and development of our
partners and faculty.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal
Proceedings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
time to time we may be subject to litigation and arbitration claims incidental to its business. Such claims may not be covered by our
insurance coverage, and even if they are, if claims against our business are successful, they may exceed the limits of applicable insurance
coverage.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Further
Company Information</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information in this business section has been written to include details on each of the Pre-IPO Group companies and Acquisition companies
in the context of our Group structure and growth strategy as a whole. This section provides further material or relevant details on each
company specific to each company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd refers specifically to the holding company, Genius Group Limited, the Singapore public limited company which owns the other
companies in the Group. Prior to a corporate name change in July 2019, it was known as GeniusU Pte Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd is the holding company that is dual listed on NYSE American and Upstream. It is currently a Singapore public limited company
that, following the various completed acquisitions and completed funding rounds.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd.&#8217;s head office is in Singapore, at the location of Singapore Genius Central. The company has 11 staff including the Genius
Group board and management. The primary activities of Genius Group are: Setting the overall strategic direction of the Group; oversight
on the operational and financial management of each company in the Group; overseeing growth opportunities, mergers and acquisitions;
managing financing activities and investor relations; and ensuring all Group companies are aligned to our mission and culture. The company
provides strategic management, accounting, legal and human resources services to the companies within the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd.&#8217;s revenues are derived from management fees it receives from each Group company. These range from 2.5% to 5.0% of revenues.
These revenues have been eliminated in our audited accounts of the Pre-IPO Group. In the fiscal year ended December 31, 2021, Pre-IPO
Group revenues were $8.3 million. In the fiscal year ended December 31, 2022, the audited financial revenue was 18.2 million and the
pro forma revenue was $28.1 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to continue to grow Genius Group Ltd as the holding company for the Group in line with the growth of the Group, with a focus on
strategy, acquisitions, financing, compliance and investor relations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GeniusU
Ltd</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
Ltd is one of the four companies in the Pre-IPO Group. The company formed in August 2019 under the corporate name GeniusU Pte Ltd, and
subsequently converted to a public company, GeniusU Ltd in May 2021 (as distinct from its parent Genius Group Ltd, the current Group
holding company, which until July 2019 used the name GeniusU Pte Ltd).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
Ltd is 96.55% owned by Genius Group Ltd. It operates as the Edtech company within Genius Group, providing the technology that enables
us to grow our acquisitions as Edtech companies with its Edtech platform, AI digital assistant, personalized learning and global community.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company manages all design, development, data, content, community and commerce related to our Edtech platform. This is what we believe
gives Genius Group its competitive edge, as each student and faculty member is able to use the tools on GeniusU to design their own personalized
path and access the courses and content of all our acquisition companies from anywhere in the world.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
also has its head office in Singapore, at the same location as Genius Group Ltd. The company has 59 staff, consisting of teams in management,
marketing, sales, product, engineering, community, partnerships and operations. This team operates virtually and while team members are
in countries around the world, they are based primarily in Singapore, Australia, South Africa, India, Ukraine, U.K and U.S.A.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
Ltd generates revenue from education programs hosted on GeniusU by our partners together with revenue from education programs that form
our entrepreneur curriculum. The six other companies in the Group benefit from GeniusU&#8217;s ability to integrate, digitize and distribute
their education programs across different age groups, and the Group in turn benefits from increasing the lifetime value and spend of
each student by providing a lifelong learning pathway.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU&#8217;s
Ltd.&#8217;s revenues are combined in the Pre-IPO Group revenues. These revenues make up 99% of the education revenue segment and 100%
of the digital education revenue segment of the Pre-IPO Group in 2021. In 2021, the Pre-IPO Group&#8217;s education revenue segment was
$5.2 million. In 2022, the GeniusU&#8217;s revenue was $4.9 million, this accounted for 17% of the pro forma revenue for the Group</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with the other companies in the Group, GeniusU Ltd can raise capital directly to help fund the development of the platform. In the fiscal
year ended December 31, 2022, GeniusU Ltd raised a total of $2.7 million through an issue of ordinary shares. These were raised directly
from our investor community at a final share price that valued GeniusU Ltd at $250 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to continue to grow GeniusU as the growth engine for the Group with a focus on integrating, digitizing and distributing education
content from our partners and acquisition companies, while developing our community, platform, technology and AI capabilities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Entrepreneurs
Institute</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneurs
Institute is the trading name for Wealth Dynamics Pte Ltd, a Singapore-based private limited company and one of the companies in the
Pre-IPO Group. Entrepreneurs Institute is one of the four companies in the Pre-IPO Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2019, Genius Group Ltd acquired Entrepreneurs Institute for $8 million. The company owns and develops the entrepreneur education
curriculum and tools in the Group, used by many of the leading fast- growth high-tech companies in the world.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneurs
Institute historically generated revenue from education programs and tools included under the Wealth Dynamics, Talent Dynamics and Impact
Dynamics brands. It also ran the Global Entrepreneur Summit series in Asia, Australia, Africa, Europe and the U.S., and was the first
company to bring its community of entrepreneurs onto the GeniusU Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the acquisition, Genius Group Ltd received 10% to 30% of Entrepreneurs Institute&#8217;s revenue as a platform fee. Following the
acquisition of Entrepreneurs Institute, all products have been converted to digital offerings on GeniusU, and all revenues and costs
of Entrepreneurs Institute have subsequently been absorbed into GeniusU Ltd, with 100% of revenue becoming Edtech platform revenue in
2020. All team members of Entrepreneurs Institute also joined the GeniusU team in 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
growing community within Entrepreneurs Institute has provided a test bed for GeniusU to grow and to now attract other educators to follow
a similar model for global expansion. The loyalty of entrepreneurs within the community is demonstrated by examples of going from startup
to high-growth, initial public offering, and exit over the last 20 years, and now supporting the creation of the Genius Group curriculum
for their own children.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneurs
Institute&#8217;s revenue is now included in GeniusU&#8217;s revenues. These revenues make up 99% of the education revenue segment and
100% of the digital education revenue segment of the Pre-IPO Group as explained in the GeniusU Ltd section above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Entrepreneur
Resorts</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneur
Resorts Limited is one of the four companies in the Pre-IPO Group. The company is a Seychelles public listed company on the Seychelles
Merj Stock Exchange (Ticker: ERL). Entrepreneur Resorts was acquired by Genius Group in July 2020. The company in turn wholly owns and
operates five subsidiary companies: Entrepreneur Resorts Pte Ltd (Singapore); Genius Central Singapore Pte Ltd, Vision Villa Resorts
Pte Ltd (Indonesia); Tau Game Lodge (South Africa); and Matla Game Lodge (South Africa).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
July 2020, Genius Group Ltd acquired 98% of the shares of Entrepreneur Resorts and its subsidiaries for $31 million, with Entrepreneur
Resorts shareholders swapping their shares for $31 million of Genius Group Ltd shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company currently owns and operates venues in three countries: Singapore, with 43 staff; Indonesia, with 81 staff; and South Africa,
with 90 staff. In Singapore, it owns Genius Central, an entrepreneur co- working hub, bar, restaurant and event space. In Bali, Indonesia,
it owns Vision Villa Retreat and Genius Caf&#233;, an entrepreneur beach club. In South Africa, it owns Tau Game Lodge and Matla Lodge,
both safari lodges on the Madikwe Game Reserve. Each venue operates as a local campus for events and courses that take place on GeniusU.
When GeniusU hosts global summits, accelerator programs and microschools live, they are also attended by groups at our campus venues,
who then spend extra on food and beverage, accommodation and additional courses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2021, revenues were $3.1 million. This accounted for 37% of the revenue for the Group. In the fiscal
year ended December 31, 2022, the revenue were $4.7 million which accounts for 17% of the pro forma group revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2020, we divided our campus venues into the following three models: Our caf&#233; model, our central model and our resort model. We
then developed the operating systems and training systems during the COVID-19 pandemic to be able to expand the three models via licensing
to venue partners post-pandemic.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Genius Caf&#233; Model: </b>Our Genius Caf&#233; model is based on our Genius Caf&#233; in Sanur. This is a 141-seat beach-front
venue on Sanur Beach, Bali, with the land leased on an annual renewable basis with Mercure Hotel. The caf&#233; offers healthy food,
drinks, networking events, education courses and co-working for Bali&#8217;s entrepreneur community. It has developed a reputation as
one of the top destinations for entrepreneurs in Bali and is currently ranked No.3 out of 431 restaurants in Sanur.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Genius Central Model: </b>Our Genius Central model is based on our Genius Central in Singapore. This is a 177-seat bar, restaurant, education
and co-working space for entrepreneurs in Far East Square, in the center of Singapore&#8217;s business district. The venue serves as
a city campus for our education programs, and despite opening in March 2020 just as the COVID-19 pandemic began, it is gaining a reputation
as a key destination for entrepreneurs in Singapore to meet and attend events.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Genius Resort Model: </b>Our Genius Resort model is based on our three resort locations. Vision Villa Resort in Bali, based in Gianyar
on the East Coast of Bali next to the Bali Safari Park, has 17 guest rooms, a conference center, spa and a Genius Caf&#233; on site.
Tau Game Lodge, in Madikwe Game Reserve in South Africa, has 30 guest rooms, a conference center, spa and daily safari drives. Matla
Game Lodge, adjacent to Tau, is a Private Members&#8217; lodge with 7 guest rooms and is managed by the same team that manages Tau. These
venues have been hosting to GeniusU events and retreats, and our post-pandemic plan is to build a calendar of workshops and retreats
that enable our students to attend our education programs in our resort locations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2020, the Caf&#233; model operated at 20% capacity with 37,185 orders and $342,238 revenue. The Central Model operated at 24% capacity
with 36,182 orders and $500,629 revenue. The resort model operated at 26% capacity with 8,538 room nights and $1,172,699 revenue. In
total, the locations operated at 24% capacity as a result of COVID-19.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the meantime, we have utilized the additional time we have had during 2020 to develop our license model to attract venue partners to
launch additional venues. We have created three models based on our caf&#233; model, central model and resort model. In each model,
venue partners pay $32,000 for initial training and consulting, in which we support the setup of the campus venue with setup support,
brand guidelines, interior design review, construction support and pre-opening inspection. The venue partner then pays 4% of net sales
on an ongoing basis as a royalty fee, and 4% of net sales on an ongoing basis for marketing and use of the GeniusU platform to manage
their community and operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since
launching the license model in 2021, we have attracted venue partners in Australia, Japan, England, Greece and South Africa. Our plan
is to continue to grow Entrepreneur Resorts via our license model, in order to provide a campus venue model for our community partners
who seek a GeniusU campus in their city or location.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
2023 we plan to spin-off entrepreneur resorts and focus on our core business &#8211; education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Education
Angels</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels is one of the five Acquisitions. The company is a New Zealand-based
home childcare and education company. Genius Group Ltd entered into an agreement to purchase Education Angels in November 2020 and completed
the acquisition in April, 2022 for a purchase price of $1.9 million. The company has a model to train childcare professionals as educators
for children from 0-5 years old, developing 21st century play and discovery skills as the first step in the Genius School curriculum.
We plan to expand this model globally via our Edtech platform, with home educators certified on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company generates revenue from parents of young children from 0-5 years old paying for an Education Angels&#8217; trained educator to
both educate and care for their child. Educators within a region can provide education and care for up to 4 children at a time and are
supervised by trained teachers. Education Angels is required to be approved by the NZ Ministry of Education (MOE) in order to operate
and receive government funding. Education Angels is approved by the MOE and 50% of Education Angels&#8217; Educator fees are paid for
by the NZ Government.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2020 the company had 630 home educated students and revenue was $1.1 million. In the fiscal year ended December 31, 2021, revenues were
$0.9 million. In the fiscal year ended December 31, 2022, revenue were $0.9 million. This accounted for 3% of the pro forma revenue for
the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels has its head office in Wellington, New Zealand. The company has 20 staff and educators based throughout New Zealand. For details
of the current and future product range of Education Angels, please see the &#8220;Our Genius Curriculum&#8221; section above. For details
of our growth plans for Education Angels, please see the &#8220;Our Four-Step Growth Plan&#8221; above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>E-Square</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square
is one of the five Acquisitions. E-Square is an entrepreneur education campus in South Africa, providing a full range of programs from
pre-primary through primary school, secondary school and vocational college. Genius Group Ltd entered into an agreement to purchase E-Square
in November 2020 and completed the acquisition in May, 2022 for a purchase price of $3.8 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2020 E-Square had 546 students and revenues of $0.8 million. In the fiscal year ended December 31, 2021, revenues were $0.7 million.
In the fiscal year ended December 31, 2022, revenues were $0.6 million. This accounted for 2% of the pro forma revenue for the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square
generates revenue from students attending their pre-primary, primary and secondary schools, together with their vocational college. Prior
to the pandemic, E-Square developed their education system into a hybrid model where students attended classes while completing assignments
online on their smart phones. As a result, students can attend teacher-led classes both in person and virtually. When the pandemic resulted
in school closures in South Africa, E-Square was able to continue its operations online without undue disruption.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square&#8217;s
school curriculum is focused on building vocational and entrepreneurial skills, and its schools are approved by the South Africa Department
of Education. It is also a certified Microsoft Training Partner and has developed interactive technology courses for students online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square
has its campus in Nelson Mandela Bay Square, Port Elizabeth, South Africa. The school has 35 staff and in 2020 the school had 169 primary
school students, 209 secondary school students, 90 matric school students and 78 students in vocational training.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to integrate E-Square&#8217;s offering globally through courses, camps and delivery of a full primary school and high school curriculum,
and our goal is to integrate E-Square&#8217;s innovative approach and courses with GeniusU&#8217;s Edtech platform and curriculum in
order to be accessible to our global community. We are also expanding our faculty, partnerships and campuses so that primary and high
school students can receive their education and high school diploma online, via guided home schooling or via our campuses and partner
schools. For details of the current and future product range of Education Angels, please see the &#8220;Our Genius Curriculum&#8221;
section above. For details of our growth plans for Education Angels, please see the &#8220;Our Four-Step Growth Plan&#8221; above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>University
of Antelope Valley</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">University
of Antelope Valley (UAV) is one of the five Acquisitions. UAV is an accredited university based on a 10-acre campus in Lancaster, California.
It offers career-focused on-campus and online programs at the master&#8217;s, bachelor&#8217;s and associate degree level, as well as
certificate and continuing education programs in several high-demand sectors. In July 2022, Genius Group Ltd completed the acquisition
of University of Antelope Valley for $14.5 million of purchase consideration, with a top up consideration paid based on the performance
of UAV in 2022, 2023 and 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2020, UAV had revenues of $10.1 million revenue. In the fiscal year ended December 31, 2021, revenues
were $9.0 million. In the fiscal year ended December 31, 2022, revenues were $8.1 million. This accounted for 29% of the pro forma revenue
for the Group. Of the student intake over the last three years, 50% were between 18 and 24 years old, 28% were between 25 and 30 years
old, 14% were between 31 and 39 years old, and 8% were over 40 years old.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
has its campus in Lancaster, California, USA. The campus includes lecture rooms, labs, student accommodation, a student center, restaurant,
bar, indoor multi-purpose sports complex and administration offices. The university has 165 staff and in 2020 had 3,100 students attending
career-focused programs at the master&#8217;s, bachelor&#8217;s, and associate Degree-level, as well as Certificate Programs and Continuing
Education Courses in the sectors of psychology, business management, hospitality management, education, criminal justice, and sports
management, healthcare management, EMS, nursing, electrical engineering, and career training in culinary arts, emergency care technician,
fire science, medical assistant, paramedic, pharmacy technician, vocational nursing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since
its inception, the University also has a history of collaborations with industry partners, including the City of Lancaster and the City
of Palmdale, Lockheed Martin, Multiple Local Law Enforcement Agencies, Boeing, The Los Angeles County Fire Department, and Antelope Valley
Hospital, to name a few. These long-term partnerships have made UAV a preferred destination campus for students seeking high-quality
employer-approved programs. As a result of this premium brand reputation, over 40% of the students who attend UAV receive permanent employment
opportunities during their externships.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
is approved for Title IV federal loans, grants and other federal, state and private financial aid. It is also SEVIS-approved for qualified
international students.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
University of Antelope Valley was directly impacted by the coronavirus outbreak (COVID-19). On January 31, 2020, U.S. Health and Human
Services Secretary declared a public health emergency for the United States. In response to COVID-19, the University of Antelope Valley
temporarily halted significant portions of its operations. University of Antelope Valley reported a decline in revenue of 16% in 2020;
however, cost reduction measures and government support assisted in minimizing the impact and the company reported an increase in net
profit after tax of 406%. In March 2020, the Institution received approval for total of $1,613,796 grants through the Higher Education
Emergency Relief Fund (HEERF) under the Coronavirus Aid, Relief and Economic Security Act (Cares Act). In May 2020, the Institution received
approval for a $1,136,120 note payable through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief and Economic Security
Act (Cares Act). This note was forgiven in November 2020, and the forgiveness was recorded as accrued other income during the fiscal
year ended December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">UAV
Courses</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
currently runs the following certificate programs, associate degree programs, bachelor&#8217;s degree programs and master&#8217;s degree
programs. Programs range from $13,000 to $30,000 in tuition fees per year, and programs are from one year to three years in duration.
The following are the programs UAV currently offers:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Certifications
    in: </b>Culinary Arts &amp; Restaurant Management, Emergency Medical Technician, Massage Therapy, Medical Assistant, Medical Billing
    &amp; Coding, Paramedic, Pharmacy Technician, Professional Baking &amp; Pastry, and Vocational Nursing.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Associate
    Degrees in: </b>Allied Health, Business Management, Criminal Justice, Fire Science, Health &amp; Fitness, Healthcare Management,
    Hospitality Management and Paramedic Science.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bachelor&#8217;s
    Degrees in: </b>Business Management, Communication, Criminal Justice, Electrical Engineering, Health Fitness Specialist, Healthcare
    Management, Hospitality Management, Psychology and Sports Management</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Master&#8217;s
    Degrees in: </b>Business Administration, Criminal Justice and Education.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
key aspect regarding UAV&#8217;s WASC approved programs is that UAV can establish new courses or &#8220;concentrations&#8221; based on
its current approved programs by modifying elements of the programs without additional approvals needed. For example, UAV can add a &#8216;concentration&#8217;
of &#8216;international marketing&#8217; to its current WASC approved course, Master&#8217;s in Business Administration, and immediately
establish a new &#8216;approved&#8217; course entitled, &#8220;Master&#8217;s in Business Administration &#8212; Entrepreneurship,&#8221;
without needing additional approval from WASC. This can be replicated for all of the current bachelor&#8217;s and master&#8217;s degree
programs that have been approved by WASC that UAV currently offers, both on-ground and online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
Accreditations</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
currently has accreditations with the following organizations and accrediting bodies:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WASC
    (WASC Senior College &amp; University Commission &#8212; WSCUC): </b>The WASC Senior College and University Commission is a regional
    accrediting agency serving a diverse membership of public and private higher education institutions throughout California, Hawaii,
    and the Pacific as well as a limited number of institutions outside the U.S. The WASC Senior College and University Commission (WSCUC)
    is recognized by the U.S. Department of Education as certifying institutional eligibility for federal funding in a number of programs,
    including student access to federal financial aid.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US
    Department of State for the International Exchange Programs (I-20 SEVP- F1 Visa): </b>Student and Exchange Visitor Program (SEVP)
    certification allows institutions to issue Forms I-20, &#8220;Certificate of Eligibility for non-immigrant Student Status,&#8221;
    to prospective international students after admitting them for a course of study. Prospective international students then use the
    Form I-20 to apply for a visa to enter the United States.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commission
    on Accreditation of Allied Health Education Programs (CAAHEP): </b>The Commission on Accreditation of Allied Health Education Programs
    is the largest programmatic accreditor of the health sciences professions. In collaboration with its Committees on Accreditation,
    CAAHEP reviews and accredits over 2100 individual education programs in 32 health science occupations. CAAHEP accredited programs
    are assessed on an ongoing basis to assure that they meet the Standards and Guidelines of each profession. CAAHEP is recognized by
    the Council for Higher Education Accreditation (CHEA). CAAHEP is also a member of the Association of Specialized &amp; Professional
    Accreditors (ASPA).</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bureau
    for Private Postsecondary Education (BPPE): </b>The Bureau protects students and consumers through the oversight of California&#8217;s
    private post-secondary educational institutions by conducting qualitative reviews of educational programs and operating standards,
    proactively combating unlicensed activity, impartially resolving student and consumer complaints, and conducting outreach.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emergency
    Medical Services Agency &#8212; Los Angeles County (EMS): </b>The EMS Agency is responsible for planning, implementing, monitoring,
    and evaluating the local EMS system. This includes establishing policies, addressing the financial aspects of system operation, and
    making provisions for collection, analysis, and dissemination of EMS related data. Also, the EMS Agency is responsible for establishing
    operational policies and procedures; designating EMS base hospitals and specialty care centers, such as trauma centers; developing
    guidelines, standards and protocols for patient treatment and transfer; implementing a prehospital ALS program; certifying and accrediting
    prehospital medical care personnel; and approving EMS personnel training programs.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commission
    on Accreditation for Prehospital Continuing Education (CAPCE): </b>CAPCE Accredited certificates of attendance provide EMS professionals
    with the documentation required for maintaining their EMS license and/or NREMT certification.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
    of Vocational Nursing &amp; Psychiatric Technicians (BVNPT): </b>The mission of the California Board of Vocational Nursing and Psychiatric
    Technicians (Board) is to protect the public. Public protection is paramount to the Board and its highest priority in exercising
    its licensing, regulatory, and disciplinary functions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>California
    Board of Registered Nursing (BRN): </b>The Board of Registered Nursing protects and advocates for the health and safety of the public
    by ensuring the highest quality registered nurses in the state of California.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>US
    Department of Veterans Affairs (VA): </b>VA education benefits help Veterans, service members, and their qualified family members
    with needs like paying college tuition, finding the right school or training program, and getting career counseling.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Council
    for Higher Education Accreditation (CHEA): </b>The Council for Higher Education Accreditation (CHEA) is a United States organization
    of degree- granting colleges and universities. It identifies its purpose as providing national advocacy for self-regulation of academic
    quality through accreditation in order to certify the quality of higher education accrediting organizations, including regional,
    faith-based, private, career, and programmatic accrediting organizations. The organization has approximately 3,000 academic institutions
    as members and currently recognizes approximately 60 accrediting organizations. CHEA is based in Washington, DC.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>National
    Association of Intercollegiate Athletics (NAIA): </b>The National Association of Intercollegiate Athletics (NAIA), headquartered
    in Kansas City, Mo., is a governing body of small athletics programs that are dedicated to character-driven intercollegiate athletics.
    Since 1937, the NAIA has administered programs dedicated to championships in balance with the overall college educational experience.
    Each year more than 77,000 NAIA student-athletes have the opportunity to play college sports, earn over $800 million in scholarships,
    and compete for a chance to participate in 27 national championships.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>California
    Commission on Teacher Credentialing: </b>University of Antelope Valley is seeking initial institutional approval by the California
    Commission on Teacher Credentialing. This approval would allow the University of Antelope Valley to sponsor educator preparation
    programs in California. Interested parties are invited to submit comments that may help to inform the Commission of substantive issues
    regarding this institution.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">UAV
Student Funding</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to enrolling at UAV, all students are encouraged to explore the availability of financial aid funding through state and federal agencies.
The majority of financial aid available to students is provided by the Federal Government and referred to as Title IV Aid. This includes
the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), Federal Direct Loan Program,
and Parent Loans for Undergraduate Students (PLUS). Also, students may be eligible to participate in institutional or private loan programs
that enable students to contribute to his/her education while in college. The university is also eligible to participate in several state
agency programs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">UAV
Growth Plan</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have provided details on how we plan to integrate and expand UAV&#8217;s product offering as part of our Genius Curriculum in the sections
&#8220;Our Genius Curriculum&#8221; and &#8220;Our Four-Step Growth Plan&#8221; above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we plan to expand UAV&#8217;s growth in courses and student numbers in Lancaster. As part of the acquisition process, WSCUC&#8217;s
Structural Change Committee conducted a review of the acquisition from March to May 2021. This included interviews with owners, management,
faculty and students, together with review of our transition plan and growth plans for UAV. WSCUC approved the acquisition based on these
interviews and plans, and below are highlighted elements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Property
Investors Network</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Investors Network (PIN) is one of the five Acquisitions. PIN refers to Property Investors Network Ltd combined with its sister company
Mastermind Principles Limited, a United Kingdom (&#8220;U.K.&#8221;) private limited company. PIN is a U.K.-based company that provides
investment education through its fifty city chapters and monthly events in England, held both virtually and in-person. We believe that
PIN is the largest property investor network in England based on student numbers, with almost 164,000 students, of which 76,700 are free
students and 67,987 are paying students. On November 30, 2020, Genius Group Ltd signed a definitive agreement to acquire 100% of the
voting equity interest of Property Investors Network Ltd and Mastermind Principles Limited for purchase consideration of $29.7 million
and completed the acquisition in April, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
has a digital education and event model for investor education that Genius Group plans to expand globally via its Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2020 PIN had revenues of $4.6 million. In the fiscal year ended December 31, 2021, revenues were $5.1 million. In the fiscal year ended
December 31, 2022, revenues were $3 million. This continued to account for 11% of the pro forma revenue for the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN&#8217;s
students join PIN online or via the fifty city chapters managed by PIN City Hosts. Each City Host is an active property investor and
each monthly event is attended by property investors in the local area, where they learn from guest speakers and share opportunities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
generates revenues from event and membership fees, and from members purchasing property, education courses and mentorship. These include
two-day summits, six-week microcourses and twelve-month mentorships. During the pandemic all events and programs became completely virtual,
and revenues saw an increase.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are integrating to expand PIN&#8217;s city host model globally, to integrate it with GeniusU&#8217;s own City Leader model and to manage
all PIN&#8217;s events and community on the GeniusU Edtech platform. We also are extending PIN&#8217;s courses and certification programs
to grow its faculty globally, and to integrate its financial literacy, investment literacy and business communication courses in our
high school and university programs. We see these skills as being important parts of our global curriculum. For details of the current
and future product range of PIN, please see the &#8220;Our Genius Curriculum&#8221; section above. For details of our growth plans for
PIN, please see the &#8220;Our Four-Step Growth Plan&#8221; above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Revealed
Films</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
Films is one of the five Acquisitions. The company is a Delaware based Film Production Company. Genius Group Ltd entered into an agreement
to purchase Revealed Films on October 3, 2022 for a purchase price anticipated to be approximately $20.4 million with earnout and claw
back payments in 2023, 2024 and 2025 that are contingent on meeting certain revenue and profitability criteria. The company is a film
production company based in Utah that launches three to four docu-series per year covering topics such as wealth building, health and
nutrition, medical issues, religion, and political matters. The acquisition will enable Genius Group to enhance and supplement its always-evolving
curriculum with high-quality entrepreneurial education videos.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
Films Inc. was founded in 2017 by award-winning filmmaker and television producer Jeff Hays and wellness and business expert Patrick
Gentempo.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2022 the company had 36 staff working as an employee and contractor and the revenues were $5.9 million. This accounted for 21% of the
pro forma revenue for the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
has its head office in Utah, United States. The company&#8217;s staff is based throughout the United States. For details of the current
and future product range of Revealed Films please see the &#8220;Our Genius Curriculum&#8221; section above. For details of our growth
plans for Revealed Films, please see the &#8220;Our Four-Step Growth Plan&#8221; above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Regulation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
adult education and training are conducted globally without the need to comply with any particular education regulations. Our school
and university operations do need to comply with education regulations in various countries. The following discussion summarizes the
most significant laws, rules and regulations that affect our operations in the following countries:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Early
Learning Regulation in New Zealand, related to Education Angels</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels is required to be approved by the NZ Ministry of Education (MOE) in order to operate and receive government funding. Education
Angels is approved by the MOE and 50% of Education Angels&#8217; Educator fees are paid for by the NZ Government. The Education and Training
Act 2020 and the Education (Early Childhood Services) Regulations 2008 are the regulations that must be met by services in order for
them to hold a license and to receive government funding. The standards we are monitored on and are required to meet include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delivery
    of the New Zealand national curricular framework</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compliance
    with the Health and Safety standards, governance and premises standards of the regulations.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    excellent quality of staff-child interaction</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interesting
    learning resources and programs that engage children</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engagement
    and effective communication with families and communities</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Positive
    home learning environments that reinforce learning</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maintaining
    the specific number of qualified teachers and persons responsible.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
is common with many countries, New Zealand does not require early learning educators to be qualified. However, in order to receive funding,
licensed home-based services require one or more coordinators with a recognized early childhood education (ECE) teach qualification and
a current practicing certificate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels is currently meeting all requirements in order to maintain its MOE approval.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expansion
of Education Angels to new countries will require similar MOE or DOE approvals in each country in order for the company and parents to
benefit from government financing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>School
Regulation in South Africa, related to E-Square</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
South African Constitution permits anyone to establish private school, on the basis that the school may not discriminate on the basis
of race and it must offer education of a quality not inferior to comparable public schools. All private schools must be registered with
the Department of Education (DOE) in accordance with the South African Schools Act (SASA), 1996. A private school may not operate unless
it is registered with the education department of the province in which it is situation. In the case of E-Square, this is Port Elisabeth,
South Africa.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
provinces have additional requirements to be met in order to qualify for potential local government funding options. However, given the
challenges and potential unreliability in these options, E-Square does not currently receive local government funding, and all education
is funded by students and their parents.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>University
Regulation in the U.S. relevant to UAV</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
is subject to extensive regulation by the U.S. Department of Education (DOE) and Western Association of Schools and Colleges, Senior
College and University Commission (WASC). The regulations, standards and policies of these agencies cover UAV&#8217;s educational programs,
facilities, instructional and administrative staff, administrative procedures, marketing, recruiting, finances, results of operations
and financial condition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
an institution of higher education that grants degrees and certificates, UAV is required to be authorized by WASC. In addition, in order
to participate in the federal programs of student financial assistance for our students, UAV must be accredited by an accrediting commission
recognized by the DOE. Accreditation is a non-governmental process through which an institution submits to qualitative review by an organization
of peer institutions, based on the standards of the accrediting commission and the stated aims and purposes of the institution. The Higher
Education Act requires accrediting commissions recognized by the DOE to review and monitor many aspects of an institution&#8217;s operations
and to take appropriate action if the institution fails to meet the accrediting commission&#8217;s standards.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV&#8217;s
operations are also subject to regulation by the DOE due to our participation in federal student financial aid programs under Title IV
of the Higher Education Act, which we refer to in this Annual Report as the Title IV programs. The Title IV programs include educational
loans with below-market interest rates that are guaranteed by the federal government in the event of a student&#8217;s default on repaying
the loan, and also grant programs for students with demonstrated financial need. To participate in the Title IV programs, a school must
receive and maintain authorization by the appropriate state education agency or agencies, be accredited by an accrediting commission
recognized by the DOE, and be certified as an eligible institution by the DOE.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
is currently in good standing with WASC and a WASC reaffirmation process was completed in 2021. It is a routine approval process that
is conducted by WASC every 6, 8 or 10 years after initial accreditation. It is a year-long process which was completed by November 2021
at the WASC Commission. All BA and MA degree programs at UAV are approved for both in-person and online delivery. In addition, UAV requires
and has secured the additional accreditations and approvals from the following approval bodies in order to deliver our education programs:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
    Department of State for the International Exchange Programs (I-20 SEVP &#8212; F1 Visa)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
    on Accreditation of Allied Health Education Programs</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bureau
    for Private Postsecondary Education</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">California
    Board of Registered Nursing</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S.
    Department of Veterans Affairs</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Council
    for Higher Education Accreditation</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Official
    SAT Test Site</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">California
    SBDC Partner</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
    on Accreditation for Prehospital Continuing Education</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">California
    Massage Therapy Council</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Council
    for Higher Education Accreditation</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los
    Angeles County Emergency Medical Services Agency</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board
    of Vocational Nursing and Psychiatric Technicians</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">National
    Association of Intercollegiate Athletics</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business activities are planned and implemented to comply with the standards of these bodies and regulatory agencies. We employ a full-time
director of compliance who is knowledgeable about regulatory matters relevant to student financial aid programs and our chief financial
officer and general counsel also provide oversight designed to ensure that we meet the requirements of our regulated operating environment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Regulation
of Federal Student Financial Aid Programs, related to UA</i></b><i>V</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
be eligible to participate in the Title IV programs, an institution must comply with specific requirements contained in the Higher Education
Act and the regulations issued thereunder by the Department of Education. An institution must, among other things, be licensed or authorized
to offer its educational programs by the state in which it is physically located (in our case, California) and maintain institutional
accreditation by an accrediting commission recognized by the DOE. We are currently certified to participate in the Title IV programs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
substantial amount of federal funds disbursed to schools through the Title IV programs, the large number of students and institutions
participating in these programs, and allegations of fraud and abuse by certain for-profit educational institutions have caused Congress
to require the DOE to exercise considerable regulatory oversight over for-profit educational institutions. As a result, our institution
is subject to extensive oversight and review. Because the DOE periodically revises its regulations and changes its interpretations of
existing laws and regulations, we cannot predict with certainty how the Title IV program requirements will be applied in all circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, the criteria that institutions must meet in order to remain qualified for Title IV funding include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Administrative
capability</i>. The DOE regulations specify extensive criteria by which an institution must establish that it has the requisite &#8220;administrative
capability&#8221; to participate in Title IV programs. To meet the administrative capability standards, an institution must, among other
things: comply with all applicable Title IV program requirements; have an adequate number of qualified personnel to administer Title
IV programs; have acceptable standards for measuring the satisfactory academic progress of its students; not have student loan cohort
default rates above specified levels; have various procedures in place for awarding, disbursing and safeguarding Title IV program funds
and for maintaining required records; administer Title IV programs with adequate checks and balances in its system of internal controls;
not be, and not have any principal or affiliate who is, debarred or suspended from federal contracting or engaging in activity that is
cause for debarment or suspension; provide financial aid counseling to its students; refer to the DOE&#8217;s Office of Inspector General
any credible information indicating that any student, parent, employee, third-party servicer or other agent of the institution has engaged
in any fraud or other illegal conduct involving Title IV programs; submit all required reports and financial statements in a timely manner;
and not otherwise appear to lack administrative capability. If an institution fails to satisfy any of these criteria, the DOE may require
the institution to repay Title IV funds its students previously received, change the institution&#8217;s method of receiving Title IV
program funds, which in some cases may result in a significant delay in the institution&#8217;s receipt of those funds, place the institution
on provisional certification status or commence a proceeding to impose a fine or to limit, suspend or terminate the institution&#8217;s
participation in Title IV programs. If the DOE determines that UAV fails to satisfy its administrative capability requirements, then
the institution&#8217;s students could lose, or be limited in their access to, Title IV program funding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial
responsibility. </i>The WASC and DOE regulations establish extensive standards of financial responsibility that institutions such as
ours must satisfy to participate in Title IV programs. The DOE evaluates institutions for compliance with these standards on an annual
basis based on the institution&#8217;s annual audited financial statements as well as when the institution applies to the DOE to have
its eligibility to participate in Title IV programs recertified. The most significant financial responsibility standard is the institution&#8217;s
composite score, which is derived from a formula established by the DOE based on three financial ratios: (1) equity ratio, which measures
the institution&#8217;s capital resources, financial viability and ability to borrow; (2) primary reserve ratio, which measures the institution&#8217;s
ability to support current operations from expendable resources; and (3) net income ratio, which measures the institution&#8217;s ability
to operate at a profit or within its means. The DOE assigns a strength factor to the results of each of these ratios on a scale from
negative 1.0 to positive 3.0, with negative 1.0 reflecting financial weakness and positive 3.0 reflecting financial strength. The DOE
then assigns a weighting percentage to each ratio and adds the weighted scores for the three ratios together to produce a composite score
for the institution. The composite score must be at least 1.5 for the institution to be deemed financially responsible without the need
for further DOE oversight. In addition to having an acceptable composite score, an institution must, among other things, provide the
administrative resources necessary to comply with Title IV program requirements, meet all of its financial obligations including required
refunds to students and any Title IV liabilities and debts, be current in its debt payments and not receive an adverse, qualified or
disclaimed opinion by its accountants in its audited financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the DOE determines that an institution does not meet the financial responsibility standards due to a failure to meet the composite score
or other factors, the institution should be able to establish financial responsibility on an alternative basis permitted by the DOE.
This alternative basis could include, in the DOE&#8217;s discretion, posting a letter of credit, accepting provisional certification,
complying with additional DOE monitoring requirements, agreeing to receive Title IV program funds under an arrangement other than the
DOE&#8217;s standard advance funding arrangement, such as the reimbursement method of payment or heightened cash monitoring, or complying
with or accepting other limitations on the institution&#8217;s ability to increase the number of programs it offers or the number of
students it enrolls. Any requirement to post, maintain or increase a letter of credit or other sanctions that may be imposed by the DOE
could increase our cost of regulatory compliance and could affect our cash flows. If our U.S. Institutions are unable to meet the minimum
composite score requirement or comply with the other standards of financial responsibility, and could not post a required letter of credit
or comply with the alternative bases for establishing financial responsibility, then students at UAV could lose their access to Title
IV program funding.<br /></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in; text-align: justify"><span id="Z_002"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>C.
Organizational Structure</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
nine companies within the Group are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
Group Ltd </b>is the holding company that is dual listed on NYSE American and Upstream. It is currently a Singapore public limited company
that following the various completed acquisitions and completed funding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd operates as the owner of the group of companies, providing strategic management, accounting, legal and human resources services
to the companies within the Group, in addition to managing investor relations. It derives revenues from management fees, and together
with GeniusU Ltd, Entrepreneurs Institute and Entrepreneur Resorts makes up the Pre-IPO Group. In the fiscal year ended December 31,
2021, Pre-IPO Group revenues were $8.3 million. In the fiscal year ended December 31, 2022, the audited financial revenue were $18.2
million and the pro forma revenue of $28.1 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GeniusU
Ltd </b>is the Edtech company within Genius Group. GeniusU Ltd provides the technology that enables us to grow our acquisitions as Edtech
companies with its Edtech platform, AI digital assistant, personalized learning and global community. This is what we believe gives Genius
Group its competitive edge, as each student and faculty member is able to use the tools on GeniusU to design their own personalized path
and access the courses and content of all our acquisition companies from anywhere in the world. GeniusU Pte Ltd converted from a Singapore
private limited company to a Singapore public limited company (unlisted) in May 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
provides free assessments and courses to students, enabling a high volume and low cost of acquisition of new students across all age
ranges. A percentage of these students in turn upgrade and pay for events, courses and products on the GeniusU Edtech platform, guided
by our Genie AI digital assistant. A further percentage of these paying students then upgrade to our annual memberships, mentoring and
certification programs, where many choose to become certified as faculty and partners. They in turn host their own events, courses and
products on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the end of 2022, GeniusU had 3.11 million students of which 3.06 million were free students, 43,136 had upgraded to paying students and
13,005 had upgraded to become faculty or partners. Total students grew by 17% with 444,290 new students joining in at December 31, 2022,
paying students grew by 15% and our faculty and partners grew by 27% as we released a range of new tools on GeniusU for teachers, trainers
and mentors to create their own events, courses and products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
generates revenue from education programs hosted on GeniusU by our partners together with revenue from education programs that form our
entrepreneur curriculum. The six other companies in the Group benefit from GeniusU&#8217;s ability to integrate, digitize and distribute
their education programs across different age groups, and the Group in turn benefits from increasing the lifetime value and spend of
each student by providing a lifelong learning pathway.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneurs
Institute </b>is a Singapore-based company that owns and develops the entrepreneur education curriculum and tools in the Group, used
by many of the leading fast-growth high-tech companies in the world. In August 2019, Genius Group Ltd acquired Entrepreneurs Institute
for $8 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneurs
Institute historically generated revenue from education programs and tools including under the Wealth Dynamics, Talent Dynamics and Impact
Dynamics brands. It also ran the Global Entrepreneur Summit series in Asia, Australia, Africa, Europe and the U.S., and was the first
company to bring its community of entrepreneurs onto the GeniusU Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the acquisition, Genius Group Ltd received 10% to 30% of Entrepreneurs Institute&#8217;s revenue as a platform fee. Following the
acquisition of Entrepreneurs Institute, all products have been converted to digital offerings on GeniusU, and all revenues and costs
of Entrepreneurs Institute have subsequently been absorbed into GeniusU Ltd, with 100% of revenue becoming Edtech platform revenue in
2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
growing community within Entrepreneurs Institute has provided a test bed for GeniusU to grow and to now attract other educators to follow
a similar model for global expansion. The loyalty of entrepreneurs within the community is demonstrated by examples of going from startup
to high-growth, initial public offering, and exit over the last 20 years, and now supporting the creation of the Genius Group curriculum
for their own children.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entrepreneur
Resorts </b>is a public listed company on the Main Board of the Merj Seychelles Stock Exchange (ticker: ERL) that we believe is the world&#8217;s
leading group of resorts, retreats and co-working cafes for entrepreneurs and prior to acquisition operated as a sister company to Genius
Group Ltd and Entrepreneurs Institute. The company owns entrepreneur resorts in Bali and South Africa which run entrepreneur retreats
and workshops. It also owns Genius Caf&#233;, an entrepreneur beach club in Bali, and Genius Central, an entrepreneur co-working hub
in Singapore. It plans to expand with a license model to other locations around the world. We are in process to spin-off Entrepreneur
resorts and focus on our core business, education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Entrepreneur Resorts venue operates as a local campus for events and courses that take place on GeniusU. When GeniusU hosts global summits,
accelerator programs and microschools live, they are also attended by groups at our Entrepreneur Resorts venues, who then spend extra
on food and beverage, accommodation and additional courses. In 2020, despite COVID-19 restrictions in our countries of operation, the
demand for connecting and learning in our community still resulted in $2 million in campus revenue, which was generated from food &amp;
beverage revenue and accommodation revenue. This was a drop from the $4.4 million in 2019. In the fiscal year ended December 31, 2021,
revenues were $3.1 million. This accounted for 37% of the revenue for the Group. In the fiscal year ended December 31, 2022, the revenue
were $4.7 million which accounts for 17% of the pro forma group revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd entered into a further five acquisition agreements with five education companies that we plan to integrate with GeniusU and
our Genius Curriculum. These form the Acquisitions detailed below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Education
Angels </b>is a New Zealand-based home childcare and education company. Genius Group Ltd
entered into an agreement to purchase Education Angels in November 2020 and completed the acquisition in April, 2022 for a purchase price
of $1.9 million. The company has a model to train childcare professionals as educators for children from 0-5 years old, developing 21st
century play and discovery skills as the first step in the Genius School curriculum. We completed the acquisition of Education Angels
on April 30, 2022 and are expanding this model globally via our Edtech platform, with home educators certified on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company generates revenue from parents of young children from 0-5 years old paying for an Education Angels&#8217; trained educator to
both educate and care for their child. Educators within a region can provide education and care for up to 4 children at a time and are
supervised by trained teachers. In New Zealand, Education Angels is approved and licensed by the New Zealand Department of Education,
and the government funds 50% of the education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2021, revenues were $0.9 million. In the fiscal year ended December 31, 2022, revenue were $0.9 million.
This accounted for 3% of the pro forma revenue for the Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are integrating to expand this model globally via our Edtech platform, with home educators certified on GeniusU and parents participating
in courses on GeniusU to guide their child&#8217;s development in a more personalized way. This will take place as both a parent-funded
model and a government funded model in the countries where government funding is available. We are also expanding Education Angels&#8217;
home-based education model to primary school age, in order to provide parents with the option of guided home schooling in our curriculum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E-Square
</b>is an entrepreneur education campus in South Africa, providing a full range of
programs from pre- primary through primary school, secondary school and vocational college. Genius Group Ltd entered into an agreement
to purchase E-Square in November 2020 and completed the acquisition in May, 2022 for a purchase price of $3.8 million. E-Square&#8217;s
training programs are government-funded, corporate- sponsored, and include a partnership with Microsoft Imagination Academy, providing
technology skills to students. We plan to expand this model globally via our Edtech platform, faculty certifications and licenses to schools
and vocational colleges.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square
generates revenue from students attending their pre-primary, primary and secondary schools, together with their vocational college. Prior
to the pandemic, E-Square developed their education system into a hybrid model where students attended classes while completing assignments
online on their smart phones. As a result, students can attend teacher-led classes both in person and virtually. When the pandemic resulted
in school closures in South Africa, E-Square was able to continue its operations online without undue disruption.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square&#8217;s
school curriculum is focused on building vocational and entrepreneurial skills, and its schools are approved by the South Africa Department
of Education. It is also a certified Microsoft Training Partner and has developed interactive technology courses for students online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2021, revenues were $0.7 million. In the fiscal year ended December 31, 2022, revenues were $0.6 million.
This accounted for 2% of the pro forma revenue for the Group. We plan to integrate E-Square&#8217;s offering globally through courses,
camps and delivery of a full primary school and high school curriculum, and our goal is to integrate E-Square&#8217;s innovative approach
and courses with GeniusU&#8217;s Edtech platform and curriculum in order to be accessible to our global community. We are also planning
expanding our faculty, partnerships and campuses so that primary and high school students can receive their education and high school
diploma online, via guided home schooling or via our campuses and partner schools.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>University
of Antelope Valley (UAV) </b>is an accredited university based on a 10-acre campus in Lancaster, California. It offers career-focused
on-campus and online programs at the master&#8217;s, bachelor&#8217;s and associate degree level, as well as certificate and continuing
education programs in several high-demand sectors. Genius Group Ltd entered into an agreement to purchase UAV in March 2021 and closed
the acquisition in July, 2022 for purchase price of $14.5 million with an additional top up consideration paid based on the performance
of UAV in 2022, 2023 and 2024.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
university is WASC accredited with Title IV approval from the US Department of Education, offering federally-backed student loans. It
is also SEVP-certified, enabling the participation of foreign students. Originally established as a Medical College, the University currently
has a focus on building vocational skills in the business, communications, legal and medical fields. Full details of UAV&#8217;s certifications
and certifying bodies is provided in the &#8220;Our Accreditations&#8221; section below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the pandemic UAV pivoted from on-campus education to a fully online education model with a drop in revenues that is expected to be short-term.
In the fiscal year ended December 31, 2021, revenues were $9.0 million. In the fiscal year ended December 31, 2022, revenues were $8.1
million. This accounted for 29% of the pro forma revenue for the Group. We are in the process of digitizing UAV&#8217;s certificate and
degree programs on our GeniusU Edtech platform, and to enhance these programs with GeniusU&#8217;s entrepreneur curriculum and learning
tools in order that our students globally can obtain a US accredited certificate or degree either virtually, through guided home study,
via our global campuses or on campus in Lancaster, California.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
plan is to also establish the campus of UAV in Lancaster to be the innovation lab for our global curriculum, in which we plan to attract
faculty and corporate partnerships to develop relevant course content and curriculum that we can integrate, digitize and distribute globally
via our GeniusU Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property
Investors Network </b>is a U.K.-based company that provides investment education through its fifty city chapters and monthly events in
England, held both virtually and in-person. We believe that PIN is the largest property investor network in England based on student
numbers. Genius Group Ltd entered into an agreement to purchase PIN in November 2020 and completed the acquisition in April, 2022 for
a purchase price of $29.7 million. We completed the acquisition of PIN, which has a digital education and event model for investor education
that we are expanding globally via our Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN&#8217;s
students join PIN online or via the fifty city chapters managed by PIN City Hosts. Each City Host is an active property investor and
each monthly event is attended by property investors in the local area, where they learn from guest speakers and share opportunities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
generates revenues from event and membership fees, and from members purchasing property, education courses and mentorship. These include
two-day summits, six-week microcourses and twelve-month mentorships. During the pandemic all events and programs became completely virtual
and revenues saw an increase.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2021, revenues were $5.1 million. In the fiscal year ended December 31, 2022, revenues were $3 million.
This continued to account for 11% of the pro forma revenue for the Group. We are expanding PIN&#8217;s city host model globally, to integrate
it with GeniusU&#8217;s own City Leader model and to manage all PIN&#8217;s events and community on the GeniusU Edtech platform. We also
plan to extend PIN&#8217;s courses and certification programs to grow its faculty globally, and to integrate its financial literacy,
investment literacy and business communication courses in our high school and university programs. We see these skills as being important
parts of our global curriculum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revealed
Films Inc </b>is a Utah based media production company that specializes in multi-part documentaries. Such documentaries and docuseries
span various topics. From educational investment and entrepreneurial best practices by leading experts to hard hitting societal topics.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the fiscal year ended December 31, 2021, revenues were $20.4 million. In the fiscal year ended December 31, 2022, revenues were $5.9
million. This accounted for 21% of the pro forma revenue for the Group. We plan to expand RF&#8217;s project production schedule, and
developing curriculum to offer it on the GeniusU Edtech platform. We also plan to build key courses and certification programs to grow
its speaker base globally.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s principal subsidiaries as at December 31, 2022 are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; vertical-align: top; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principal
    activities</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; vertical-align: top; text-align: center; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 16%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proportion
    of<br />
    voting rights<br />
    and shares held<br />
    (directly or<br />
    indirectly)</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; vertical-align: top; text-align: center; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
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    Incorporation</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
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    Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    company including tech development platform</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wealth
    Dynamics Pte Ltd trading as Entrepreneurs Institute</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IP
    holding company</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneur
    Resorts Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holding
    company &#8211; listed on Merj Exchange</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seychelles</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneur
    Resorts Pte Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
    company</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
    Central Singapore Pte Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospitality
    operation</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PT.
    Bali XL Vision Villa</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resort
    operation</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indonesia</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tau
    Game Lodge (Pty) Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resort
    operation</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Africa</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matla
    Game Lodge (Pty) Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resort
    operation</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Africa</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
    Angels In Home Childcare Limited</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Early
    childhood education</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Zealand</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Squared
    Education Enterprises (Pty) Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Primary
    and secondary education</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Africa</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">University
    of Antelope Valley Inc.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tertiary
    education</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">USA</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
    Investors Network Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    education</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UK</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mastermind
    Principles Ltd</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    education</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UK</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
    Films Inc</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Film
    Production</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">USA</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in; text-align: justify"><span id="Z_003"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>D.</i></b> <b><i>Property,
plants and equipment.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Facilities</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group&#8217;s principal operational offices are located in Singapore under a lease for 7,469 square feet of office space with an annual
rental cost of $0.45 million renewed September 2022 for a further three years. The Group has a remote working structure for most of our
team globally.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
has its principal offices located in Singapore at the principal offices of Genius Group.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Entrepreneur Resorts group has physical locations of operation as follows.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
    - Genius Central venue with a restaurant and meeting space.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Africa - two resort lodges in Madikwe Game Reserve, with leased management offices in Pretoria.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Australia
    &#8211; administration and finance services for the group operate from serviced offices in Perth.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Acquisitions have physical locations of operation as follows.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
    Angels has a number of small education centers in New Zealand with its principal office in Wellington, New Zealand.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Square
    principal offices and university campus are in Port Elizabeth, South Africa under a lease on a rolling monthly basis.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV&#8217;s
    principal offices and university campus are in Lancaster, California. Genius Group has a right of first refusal and option to acquire
    the property, which expires two years after closing of the acquisition of UAV.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
    Investors Network has its principal offices in Birmingham, UK.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
    Films has its principal offices in Utah, USA.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group&#8217;s strategy is to leverage various global infrastructure and remote working methodologies to enable flexible and cost effective
working environments for administrative and sales teams, whilst leasing or acquiring property required for location based operations.</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_004"></span>Item
4A. Unresolved Staff Comments</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="Z_005"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
5. Operating and Financial Review and Prospects</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion of our financial condition and results of operations is based upon, and should be read in conjunction with, our
audited consolidated financial statements and the related notes included in this Annual Report on Form 20-F. This report contains forward-looking
statements. See &#8220;Forward-Looking Information.&#8221; In evaluating our business, you should carefully consider the information
provided under the caption &#8220;Item 3 Key Information &#8212; D. Risk Factors&#8221; in this Annual Report on Form 20-F. We caution
you that our businesses and financial performance are subject to substantial risks and uncertainties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>In
this section &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to Genius Group Limited. You should read the following discussion
and analysis of our financial condition and results of operations together with our consolidated financial statements and related notes
included elsewhere in this Annual Report. The following discussion is based on our financial information prepared in accordance with
the IFRS, as issued by the International Accounting Standards Board, or IASB, which may differ in material respects from generally accepted
accounting principles in other jurisdictions, including U.S. generally accepted accounting principles, or GAAP. This discussion and other
parts of this Annual Report contain forward-looking statements that involve risk and uncertainties, such as statements of our plans,
objectives, expectations and intentions. Our actual results could differ materially from those discussed in these forward-looking statements.
Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the section of this Annual
Report titled &#8220;Item 3.D. Risk Factors.&#8221; References to the number of shares or options issued by Genius Group Limited in this
section shall be to the number of shares or options issued at December 31, 2022.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Please
refer to the glossary of terms provided at the beginning of this Annual Report for aid in understanding the entities, acquisitions, products,
services and certain other concepts referred to in the management&#8217;s discussion and analysis presented herein.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_006"></span><b>A.</b> <b><span style="text-decoration: underline">Operating
Results</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we are a world leading entrepreneur Edtech and education group. Our mission is to disrupt the current education model with
a student-centered, lifelong learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed
in today&#8217;s market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
help achieve our mission, we have completed an IPO on NYSE American, on April 14, 2022 and then dual listed the company on Upstream on
April 6, 2023. We have also raised follow on Convertible Note in September 2022. We grew from a Pre-IPO Group of four companies to a
post IPO Group of nine companies, once the five Acquisitions closed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Pre-IPO Group includes our holding company, Genius Group Ltd, our Edtech platform, GeniusU Ltd, and two companies that were acquired:
Entrepreneurs Institute in 2019 and Entrepreneur Resorts in 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally
mainly via our GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills. Our partners and community
are global with an average of 8,500 new students joining our GeniusU platform each week in 2022. Our City Leaders have been conducting
our events (physically or virtually) in over 100 cities and over 2,500+ faculty members have been operating their microschools using
our online tools.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are now expanding our education system to age groups beyond our adult audience, to children and young adults. The five Acquisitions are
our first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from early stage
5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides
vocational certifications and university degrees in California, USA; Property Investors Network, which provides property investment courses
and events in England, UK; and Revealed Films, a media production company that specializes in multi-part documentaries.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
plan is to combine their education programs with our current education programs and Edtech platform as part of one lifelong learning
system, and we have selected these acquisitions because they already share aspects of our Genius Curriculum and our focus on entrepreneur
education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
financial growth model is based on a combination of four main factors:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growth
    by acquisition of education companies that add valuable courses, content, accreditation, campuses, faculty and students to our Group.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growth
    of our Edtech platform GeniusU as a result of converting the content, accreditation, faculty and students of our acquisition companies
    into online courses that can be delivered globally.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    growth of GeniusU, with its digital curriculum and global student base, via wholly- owned curriculum, hosting partners, and their
    content.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    growth of each of our companies within the Group, as a result of expanding the Edtech business model within each company and gaining
    the benefit of the AI, digital marketing, customer intelligence and global community that GeniusU provides.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
provide an accurate discussion and analysis of financial condition and results of operation, the financial reports provided and discussed
below are grouped in the following sections:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financials
for the Pre-IPO Group including acquisitions from the acquisition date: </b>Audited financials provided for the financial years ended
December 31, 2021 and 2022, including the acquisitions company from the date of acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Pro
forma financials for Genius Group (The full Group including the Pre-IPO Group and the Acquisitions): </b>Unaudited pro forma financials
provided for the financial years ended December 31, 2022 for the full Group, including all the Acquisition companies, as if they were
operating as one during these periods.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>The
Impact of the COVID-19 Pandemic on Operations</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
financial results should also be read in light of the impact of the COVID-19 pandemic which had its impact mainly in 2020 and 2021. In
2021 the pandemic disrupted the global economy. This negatively impacted large populations including people and businesses that may be
directly or indirectly involved with the operation of our Company, products, and services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
response to these challenges was to cut costs, obtain landlord support where relevant and redeploy staff members where possible. At some
properties, closure created opportunities for maintenance and renovation activities, as well as staff training. This enabled us to reopen
efficiently when allowed. During 2021 all of our campus venues in Entrepreneur Resorts began to reopen in line with easing of pandemic
restrictions and revenue increased to $4.6 million in 2022 from $3.1 million in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
campus revenue was negatively impacted in the Pre-IPO Group, online revenue has been positively impacted. Education revenue grew by 160%
from $5.2 million in 2021 to $13.5 million in 2022 as more people worked from home or in a hybrid office model. This has been due to
the continued growth of the courses and students on GeniusU, together with the growth in faculty and partners who have chosen GeniusU
as the platform where they are marketing and delivering courses. At the end of 2022 the Pre-IPO Group had 13,005 partners compared to
10,217 at the end of 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
five Acquisitions were also impacted by COVID-19.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
University of Antelope Valley was directly impacted by the coronavirus outbreak (COVID- 19). In March 2020, UAV received approval for
total of $1,613,796 grants through the Higher Education Emergency Relief Fund (HEERF) under the Cares Act. In May 2020, UAV received
approval for a $1,136,120 note payable through the Paycheck Protection Program (PPP) under the Cares Act. This note was forgiven in November
2020, and the forgiveness was recorded as other income in 2021. The UAV campus closed from March 2020 to September 2021; all UAV revenue
became digital education revenue and all faculty and students proceeded with their courses online. The result of this is that the UAV
faculty and staff have experienced the effectiveness that online delivery can have, and we believe this will support our post-acquisition
integration and expansion plan, as we create and deliver UAV&#8217;s first online certification and degree programs on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Investors Network was impacted by the COVID-19 outbreak as the business model had previously been designed to operate investor education
events in-person at venues. However, the company adapted and took the opportunity to transform the model to a digital online operation.
Programs such as PIN meetings, events, workshops and accelerators were switched to an online format which resulted in increased revenue
and margins for the company in the first half of 2021Our post- acquisition plan is to continue to expand on this digital revenue model
supplemented by in-person local meetings connected to course content and connections on our GeniusU Edtech platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2020 E-Square ceased all in-person classes in South Africa for its students in response to COVID-19. However, as all course work at E-Square
is already conducted online using the student&#8217;s smart phones, the move to fully online courses took place without any loss of students
or revenues. Based on our post- IPO plans, we believe E-Square will benefit from the anticipated shift towards increased online education.
Similar to UAV, E-Square reopened its campus in Port Elizabeth, South Africa in September 2021 and has moved its digital revenue back
to in-person revenue. Also similar to UAV, the school&#8217;s experience with digital delivery has prepared the staff and faculty for
our post- acquisition integration and expansion plan in which we plan to expand E-Square&#8217;s most popular courses online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels, a New Zealand based home childcare and education company, was able to maintain its model of delivering its education digitally
to its in-home educators throughout COVID-19 restrictions and this model continues as restrictions in New Zealand are lifted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that the positive impact that the COVID-19 pandemic has had on the shift towards online education is reflected in the two companies
in the group that are currently focused on using our Edtech platform and delivering online courses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect this trend towards online education to be a long-term shift, and based on our post-IPO plans for each of the Acquisitions to digitize
and distribute their courses online via GeniusU, we believe this will have a net positive impact. The pro forma digital revenue of the
Group including the Acquisitions increased to $23.5 million in the fiscal year ended December 31, 2022, compared to $21.0 million in
2021. We anticipate that the percentage of education revenue generated by the Group will rise as the growth rate of the digital revenue
segment generated by the Group continues to exceed the in-person education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Key
Factors Affecting Our Results of Operations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe there are several important factors that have impacted and that we expect will impact or will continue to impact our financial
performance and results of operations, including:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growth
    in our student and partner numbers on GeniusU: We measure the number of students and partners that join our GeniusU platform and
    the ongoing growth in these numbers is critical to our financial success. We intend to continue to grow our student and partner numbers
    through a combination of our digital marketing activity, our global partnerships and our acquisitions. If our investment in these
    areas does not generate the expected revenue growth, then our operations and financial results could be adversely impacted.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Development
    of technology on our GeniusU Edtech platform: We are investing in improving the functionality and user experience of our GeniusU
    Edtech platform. This includes investing in personalizing the experience for each student and partner with the use of A.I., and in
    utilizing the data that we collect on each student and partner to deliver this experience. We believe that successful execution of
    our technology strategy will lead to wide adoption of our Edtech platform. Any delays in commercialization of our technology or decreases
    in the expected market demand for our platform could adversely impact our operations and financial results.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global
    adoption of our Genius Curriculum: We intend to continue to expand the courses and products in our Genius Curriculum on a global
    basis. We intend to hire additional resources in sales, marketing and administration in order to develop the market for our Genius
    Curriculum, engage in sales activities and establish other commercial capabilities to serve the needs our students and partners.
    If our investment in our Genius Curriculum does not generate expected revenue growth, then our operations and financial results could
    be adversely impacted.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integration
    of our Acquisitions: The success of our Acquisitions is dependent on our ability to integrate each of them effectively into our group.
    We are focusing on the integration of common functions, including our management systems, data systems, financial reporting and digital
    marketing practices, as well as integrating content, technology and payment processes on our GeniusU Edtech platform. This may require
    increased investment to our normal operations, including the hiring of new personnel and increase in our system integration costs.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Success
    in attracting further acquisitions: We intend for our future growth to be generated from a combination of our organic growth and
    growth through acquisitions. We intend to make further acquisitions that are complementary to our existing curriculum and technology
    and, where appropriate, to hire additional resources to support the growth and integration of these acquisitions. If we are not successful
    in attracting and integrating these future acquisitions, then our operations and financial results could be adversely impacted.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
each of these areas present significant opportunities for us, they also pose significant risks and challenges that we must address. See
the section of this Annual Report titled &#8220;<i>Item 3.D. Risk Factors</i>&#8221; for more information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Components
of our Operating Results</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Revenue</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
revenue is derived from education and campus segments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
is further split into digital and in-person. Our most significant growth opportunities are in the digital education stream, and our model
allows us to scale with both organic growth and growth through acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus
revenue includes food, beverage and accommodation. This is derived from both our students who are undertaking our courses, and from non-student
customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Cost
of Revenue</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the education revenue segment, cost of revenue consists mainly of digital marketing and faculty costs. Our courses include content developed
in-house and content developed, and usually delivered, by other faculty. We pay commissions or content fees to external faculty. Cost
of revenue for this segment also includes transaction processing fees and amortization of the capital cost of the technology platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the campus revenue segment, cost of revenue includes food &amp; beverage, delivery costs, accommodation costs, promotional discounts,
transaction processing fees, and depreciation and amortization of right-of-use assets, buildings and equipment that directly relate to
the earning of revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">General
and Administrative</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses primarily comprise employee compensation and benefits for functions such as finance, accounting, analytics,
legal, human resources, consulting fees, and other costs including facility and equipment costs, directors&#8217; and officers&#8217;
liability insurance, director fees, and maintenance of the technology platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Key
Business Metrics and Non-IFRS Financial Measures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
monitor the key business metrics and Non-IFRS financial measure set forth below to help us evaluate our business and growth trends, set
growth targets and budgets, and measure the effectiveness of our sales and marketing efforts. These key business metrics and Non-IFRS
financial measures are presented for supplemental informational purposes only, are not a substitute for IFRS financial measures, and
may differ from similarly titled metrics or measures presented by other companies. A reconciliation of each Non-IFRS financial measure
to the most directly comparable IFRS financial measure is provided in the &#8220;Non-IFRS Financial Measures - Adjusted EBITDA&#8221;
section of this Annual Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Key
Business Metrics</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
refer to the tables under &#8220;Key Business Metrics&#8221; for data relating to the two segments of the Pre-IPO Group, and the Acquisitions,
for the years ended December 31, 2021, and 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
metrics have been used to measure and grow the Pre-IPO Group, with Education Segment metrics (related primarily to GeniusU Ltd, including
Entrepreneurs Institute&#8217;s activity) and Campus Segment metrics (related to Entrepreneur Resorts). The same metrics used to measure
the Group&#8217;s Education Segment will be used to measure the Acquisitions. The reason that we are choosing the same metrics is related
to our plan to convert our Acquisitions into a similar &#8220;freemium&#8221; model by which we measure GeniusU, in which students and
partners join the platform for free and then over time a percentage of them upgrade to paid courses, products and certifications. The
Acquisitions have previously measured students and financial data without necessarily focusing on cost per student or revenue per student.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
&#8220;freemium&#8221; model is now common with online gaming companies and social networks, as it enables users to trial the value of
the content and community before committing to paying for additional value. In traditional education, this is not yet a commonly adopted
model, and students at many schools, universities or training institutions are generally expected to commit to payment before experiencing
the course or education pathway.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">More
recently, Edtech companies have introduced a &#8220;freemium&#8221; model into the education industry. We have found at GeniusU that
by focusing on this model, attracting students into free courses and then building a community and content that encourages them to stay
and for a percentage to upgrade to paid courses, it results in the following benefits:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that as we continue to focus on this approach, we will find effective ways to reduce the marketing cost per student, increase
the conversion rate and increase the annual revenue per student and lifetime value per student. By applying this same conversion model
to our Acquisitions after completion of the acquisitions, we also believe they will benefit from attracting increased student numbers
and increased partners and faculty delivering their courses globally.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also believe that the &#8220;freemium&#8221; model will lead to a higher quality of free courses as well as paid courses in our curriculum,
as the strength of our student retention and conversion rates will be more dependent on the students experiencing a high enough quality
of course content and a relevant enough personalized pathway to want to upgrade to higher-priced courses as a part time or full time
student than it will on the strength of an enrolment team.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
further details on our conversion model for students and partners, refer to the &#8220;Our Conversion Model&#8221; section in this Annual
Report. For further details on the courses we plan to introduce for each of the Acquisitions to introduce the &#8220;freemium&#8221;
model, refer to the &#8220;Our Courses, Products and Services&#8221; section.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Acquisitions have previously measured students and financial data without focusing on cost per student or revenue per student, however
we have provided these measures together with all the following Key Business Metrics in the Key Business Metrics for the purpose of providing
a company-by-company comparison, and our plan is to be measuring and improving these Key Business Metrics as we convert our Acquisitions
into the &#8220;freemium&#8221; model.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
methods used for calculating the operating data presented are consistent and the same for all businesses in the Group including the Pre-IPO
Companies and the Acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Number
of Students and Users</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img src="pg111-152_001.jpg" alt="" /><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Number
of Students and Users</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Number
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Number
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Number of Students, Number of Free Students, and Number of Paying Students are the total numbers for each at the end of the year. For
purposes of determining the Number of Students, we treat each student account that registers with a unique email as a student and adjust
for any cancellations. This number is then divided into the Number of Paying Students, who have made one or more purchases, and the Number
of Free Students, who are utilizing our free courses and products without making a purchase. We believe that these numbers are an important
indicator of the growth of our business and future revenue trends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Two
companies, GeniusU Ltd and PIN follow a &#8220;freemium&#8221; model, explained in the section &#8220;Business &#8212; Our Conversion
Model&#8221; below. This explains their high number of total students and paying students. These are also the two companies with free
students.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
Ltd grew total students by 48% in 2021 and a further 17% in 2022 to 3,108,035 total students, with paying students growing by 10% in
2021 and a further 15% in 2022 to 43,136 paying students. We have seen consistent growth in the number of students on GeniusU year-on-year
within the range of 10% to 20% per year. This growth is primarily due to three factors: Organic growth through word-of mouth and referrals;
partners and our acquisitions attracting new students; and direct growth from paid digital advertising. We have historically spent a
low amount on advertising as we have relied on word-of-mouth referrals and partners. Our marketing spend has been at less than 10% of
revenue for the Pre-IPO Group and less than 8% or pro forma revenue for the Group including Acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
increased total students by 20% in 2021 and a further 5% in 2022 to 164,712 total students, with paying students growing by 26% in 2021
and a further 121% in 2022 to 67,987 paying students. PIN has also been following a steady growth, with a spike in 2020 during the pandemic
as more individuals in the United Kingdom began seeking out financial education and investment education.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
the completion of the acquisitions, in 2023, we will begin tracking the number of free students as we introduce free courses and our
student conversion model to the three Pre-IPO Companies that have a more traditional education model. Currently these three companies
rely on enrolment directly into a full-time paid service or course, and as a result they have much lower student numbers at present.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
had 489 students in 2022 compared to 525 in 2021. UAV doesn&#8217;t offer any free courses and all the students tracked are paying students.
The decrease in 2022 is mainly due to the lower enrollment. RF added 1,176,820 new users and 59,722 customers to the group total in 2022.
E-Square had 602 students in 2022 students and 391 of which are paid students compared to 450 total students and 435 paid students in
2021. Education Angels total students in 2022 194 compared to 183 students in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overall,
pro forma numbers for the Group including the Acquisitions reflect a 58% growth in total students and users in 2022 compared to 2021,
with paying students growing by 137% in 2022 to 171,919 paying students. We believe these numbers represent a consistent organic growth
with a relatively low marketing spend.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Number of Partners is the total number of partners at the end of the year. For purposes of determining our Number of Partners, we treat
each partner account who registers as a partner with an ability to earn on our platform as a partner. We believe that the Number of Partners
is an important indicator of the growth of our business and future revenue trends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU&#8217;s
partners represent all our partners including our community partners and our faculty, whereas the partners in UAV and Education Angels
represent the number of faculty members, and partners in PIN represent the city hosts. We plan to increase the number of partners in
all group companies in 2023 and the integration of the companies with GeniusU and our Genius Curriculum.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of partners in GeniusU grew 26% in 2022. We expect a growth of 10% to 20% in partners each year. Tracking and managing our partner
is a balance between growth and maintaining quality, as the quality of each partner&#8217;s courses and quality of training are important
factors as they go through their certification process.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the end of 2022, the Acquisition added 1,784 to the group total. UAV has 209 partners and faculty size, PIN has 133 active affiliates
and partners, Education Angels works with 102 partners, ESQ has 49 partners and faculty and RF has 1,262 partners. On a Pro-forma basis</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overall,
pro forma numbers for the Group including the Acquisitions reflect a 29% growth in total partners in 2022. We see this key measure as
a measure of the scalability in the delivery of the Genius Curriculum, as each partner attracts their own students to GeniusU and as
partners are joining from all parts of the world, we are able to overcome the two largest bottlenecks to the growth of most education
companies: location and teachers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Number
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="pg111-152_002.jpg" alt="" /></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Number
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
Results</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Results
for the Year ended December 31, 2022 compared to the Year ended December 31, 2021</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
below discussion and analysis are for the 2022 audited financials compared to the 2021 audited financials of the Pre-IPO Group (Genius
Group Ltd, GeniusU Ltd, Entrepreneurs Institute, and Entrepreneur Resorts). For simplicity, any reference to the year 2022 is with reference
to the 12 months financials as of and for the year ended December 31, 2022, and any reference to the year 2021 is with reference to the
12 months financials as of and for the year ended December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Discussion
and analysis are also included for the 2022 pro forma financials for Genius Group compared to 2021, including the consolidated audited
financials for the Pre-IPO Group, and the financials of the Acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
clarity, each section below has separate paragraphs with discussion and analysis for the Group audited financials, and discussion and
analysis for the Genius Group unaudited pro forma financials (including the Acquisitions).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue:
</b>The $28.1 million in pro forma total revenue was the combination of $9.5 million in revenue from the Pre-IPO Group, and $18.6 million
in revenue from the Acquisitions. Acquisition revenue further breaks down to the following: University of Antelope Valley, $8.1 million
in revenue (29% of total); Property Investors Network, $3.0 million in revenue (11% of total); Education Angels, $0.9 million in revenue
(3% of total); E-Square, $0.6 million in revenue (2% of total) and Revealed Films, $5.9 million in revenue (21% of total).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
two main revenue segments are Education Revenue and Campus Revenue. Education Revenue consists of Digital Education Revenue, where the
courses are delivered virtually on GeniusU, and In-Person Education Revenue, where the courses are delivered to our students with the
aid of our faculty in-person. Digital Education Revenue also includes Revealed Films docuseries sales and their third-party affiliate
sales commissions. Campus Revenue consists of revenue we generate from our locations through accommodation, food and beverage charges.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
audited Group revenues increased from $8.3 million in 2021 to $18.2 million in the fiscal year ended December 31, 2022. This was driven
by an increase in Education Revenue of 161% from $5.2 million to $13.6 million and increase in campus revenue by 50% from $3.1 million
in 2021 to $4.6 million in 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table shows the breakdown of this revenue into segments for both Genius Group and the audited Group:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Campus Revenue</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,638</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,101</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Included
in the pro-forma revenue for 2022, the acquisitions of UAV generated revenue of $8.1 million compared to $9.0 million for 2021. The reduction
reflects the impact of the COVID-19 pandemic on on-campus learning, and the delayed effect of transitioning to online learning. The campus
returned to full operations since September 2021, however, the student enrollment remained affected due to travel restrictions and global
market conditions. PIN&#8217;s revenue was $3.0 million compared to $5.1 million in 2021. PIN was not able to re-commence operating successful
physical events which resulted in decreased revenue. Education Angels revenue was $0.9 million for both 2022 and 2021, E-Square revenue
was $0.6 million compared to $0.7 million for 2021 and Revealed Films reported revenue of $5.9 million in 2022 compared to $13.4 million
in 2021. The RF revenue decrease was related to lower films released and lower third-party affiliate sales in 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cost
of Revenue:</b> The Group&#8217;s cost of revenue was $9.6 million in 2022 with $8.6 million gross profit, for a 47% gross margin. The
Group&#8217;s cost of revenue was $5.5 million in 2021 with $2.8 million in gross profit, for a 33% gross margin. Our cost of revenue
decreased in percentage terms to revenue in 2022 as a result of acquisition expense synergies and the inclusion of higher gross margin
acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group&#8217;s pro forma cost of revenue in the fiscal year ended December 31, 2022 was $13.3 million, delivering a gross profit of $14.8
million and a 53% gross margin, compared to 2021 pro forma cost of revenue which was $11.4 million, delivering a gross profit of $12.7
million and a 53% gross margin. By owning the majority of our own curriculum and courses across all companies and acquisitions, we are
focused on maintaining a low cost of content and a high gross margin. The cost of revenue that we do incur is mainly our customer acquisition
costs and our faculty costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the fiscal year ended December 31, 2022, on a pro-forma basis, UAV had $3.9 million in direct cost with 52% gross margin compared to
$3.5 million in direct cost with a 61% gross margin in 2021. The increase in cost of sales was mainly due to the campus returning to
full operation in 2022. PIN had $1.4 million in direct cost with 53% gross margin for the year ended December 31, 2022, compared to $1.9
million in direct cost with a 63% gross margin in 2021. The increase in cost of sales was mainly due to a return to holding physical
events which failed to generate the desired revenue. Education Angels had a $0.4 million direct cost with a 60% gross margin for the
year ended December 31, 2022, compared to $0.5 million in direct costs with a 51% margin in 2021. E-Square had $0.3 million in direct
costs with 53% gross margin for the year ended December 31, 2022 and historically E-Square has included all costs in overhead and did
not report any direct costs. For the year ended December 31, 2022, Revealed Films had a $1.9 million in direct cost with $4.0 million
in gross profit delivering 68% gross margin.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV&#8217;s,
Education Angel, and E-Square direct costs are largely faculty, teacher and course costs, and they have historically spent a minimal
amount on marketing, whereas PIN&#8217;s cost is made up largely of digital marketing, commission and event costs. During the fiscal
year ended December 31, 2022, with the exception of PIN, none of the Acquisitions were yet implementing any of the growth strategies
utilized by the Pre-IPO Group. We expect cost of revenue to decrease as we synchronize and rationalize the process and gross margins
to increase as revenues grow, as we apply our marketing and partner costs to grow these companies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Operating Expenses:</b> The Group had operating expenses of $50.5 million in the fiscal year ended
December 31, 2022 compared to $7.3 million 2021. Approximately 56% of our operating expense is due to impairment loss on goodwill of $28.2
million and most of the remaining 44% is due to General and Administrative expenses. The administrative expenses include cost for our
staff costs, professional and consulting fees, development costs, marketing, rental and general expenses. The increase in our operating
expenses is the result of the growth in our operations, the expansion of our curriculum and IPO, legal and listing expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Genius Group&#8217;s pro forma operating expenses
were $57 million for the fiscal year ended December 31, 2022 compared to $17.3 million in 2021.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Of our Acquisitions, on a pro-forma basis in the fiscal year ended December
31, 2022, UAV had $18.2 million in operating expenses compared to $7.2 million in 2021, PIN had $7.7 million for the year ended December
31, 2022, compared to $1.3 million in 2021, Education Angels had $0.7 million for the year ended December 31, 2022, compared to $0.5 million
in 2021, E-Square had $2.8 million for the year ended December 31, 2022, compared to $0.6 million in 2021 and RF had $4.2 million in 2022
compared to $6.3 million in 2021. For UAV, the increase in operating expenses is due mainly to the impairment loss of $11.2 million and
administrative expenses increased due to campus returning to full operation since September. In the case of PIN, the increase in operating
expenses is mainly due to impairment expenses of $5.8 million and administrative expenses increased due to the shift from physical event
costs to digital courses and PIN&#8217;s online strategy. For ESQ, the increase is mainly due to impairment expenses of $2.3. For RF,
the decrease in cost is mainly due to lower revenues.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Additional
Income:</b> Additional Income was $0.4 million for the fiscal year ended December 31,
2022 compared to nil 2021. Genius Group&#8217;s pro forma additional income was $1.2 million for the fiscal year ended December 31, 2022
compared to $1.1 million in 2021. In 2022, UAV recorded $0.8 million benefit from the write off of a loan from the prior owners compared
to $1.2 million in additional income for forgiveness of a note payable through the Paycheck Protection Program (PPP) under the Cares Act
in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Additional
Expenses:</b> The Group also had $15.2 million in other expenses in the fiscal year ended
December 31, 2022 compared to $0.5 million in 2021. The increase was due mainly to change in the fair value of contingent consideration
of $13.8 million and interest expense of $1.3 million. Genius Group&#8217;s pro forma other expenses were $15.2 million for the fiscal
year ended December 31, 2022 compared to $0.9 million for 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recent
Accounting Pronouncements Implemented</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 88%; border-collapse: collapse; margin-left: 0.75in">
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to IFRS 3 Reference to the Conceptual Framework Relating to</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 18%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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Combinations</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s adoption of the standards above had no material impact on the consolidated financial statements in the year of initial
application.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_007"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
Liquidity and Capital Resources</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal sources of liquidity are our cash and cash equivalents, short term investments, and cash generated from operations. Cash and
cash equivalents and short term investments consist mostly of cash on deposit with banks. As of December 31, 2022, we had cash and cash
equivalents of $5.7 million maintained at various financial institutions and $11.1 million in restricted cash. We have funded our operations
primarily through cash flows from operations, and have raised capital for the purpose of business acquisitions and development of the
technology platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will repatriate cash from our subsidiaries by repayment of intercompany balances where in existence until exhausted, and otherwise by
way of dividends. Any repatriation of cash in the form of a taxable payment, such as a dividend distribution, would generally be tax
exempt in Singapore or otherwise taxable at the Singapore standard corporate tax rate, which is currently 17%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
April 2022, the Company completed its Initial Public Offering and listing on the New York Stock Exchange. Total gross proceeds from the
IPO was $22.5 million and was used to pay the IPO expenses, acquisition payouts and the growth of the business. Further in September
2022, the Company closed the follow on round for $17.0 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe our existing cash and cash equivalents, short term investments, and the cash flow we generate from our operations will not be
sufficient to meet our working capital and capital expenditure needs and other liquidity requirements for  the next 12 months based
on the change in Company&#8217;s 2022 convertible loan terms in which company has elected to pay all future payments in cash. However,
our future capital requirements may be materially different than those currently planned in our budgeting and forecasting activities
and depend on many factors, including our rate of revenue growth, the timing and extent of spending on content and research and development,
the expansion of our sales and marketing activities, the timing of new product introductions, market acceptance of our products, our
convertible note repayable schedule , our continued international expansion, the acquisition of other companies, competitive factors,
and overall economic conditions, globally. To the extent that current and anticipated future sources of liquidity are insufficient to
fund our future business activities and requirements, we may be required to seek additional equity or debt financing. The sale of additional
equity would result in additional dilution to our shareholders, while the incurrence of debt financing would result in debt service obligations.
Such debt instruments also could introduce covenants that might restrict our operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
Flow</span></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Group
&#8212; Consolidated Statement of Cash Flows Data:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">For the year ended</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 16%; text-align: right">(3,068,723</td><td style="width: 1%; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net Cash Used in Investing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(10,089,489</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Net Cash Provided By Financing Activities</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, the Group had cash and cash equivalents of $5.7 million maintained at various financial institutions. We have funded
our operations primarily through cash flows from operations, and have raised capital for the purpose of business acquisitions and development
of the technology platform.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Year
Ended December 31, 2022 Compared to Year Ended December 31, 2021</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Operating
Activities:</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating activities used $8.2 million of cash in
2022. The cash flow from operating activities primarily came from $55.3 million of net loss after tax, adjusted for $43.3 million of non-cash
items, and an increase in working capital of $3.7 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
activities used $3.1 million of cash in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Investing
Activities</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
main capital investing activities have consisted of the acquisition of existing businesses and development cost of our technology education
platform. We estimate that our ongoing capital requirements will be dictated by market opportunities for acquisition in the education
and hospitality sectors, and the rate of development of the Edtech platform. Net cash used in investing activities was $10.1 million
in 2022 compared to $0.9 million in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
major reason for the increase in 2022 was due to cash consideration of $8.8 million paid for five acquisitions and $0.7 million of costs
for technology platform development.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financing
Activities:</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash provided by financing activities was $21.9 million in 2022 compared to $3.1 million in 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
January 1, 2022 and December 31, 2022, the Company raised $17.3 million net cash from IPO, $4.2 million from convertible note
issuance and $2.7 million from equity issuance for GeniusU and Genius Group. In 2021, the Company raised funds by way of $3.1
million equity issuances for GeniusU and $1.0 million for sale of future shares for Entrepreneur Resorts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Indebtedness</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Convertible
Debt</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended 2019, Entrepreneur Resorts issued 36-month convertible loans in the principal amount of $2,256,178 which bear interest
at rates between 10% to 12% per annum, payable monthly, quarterly, annually or at maturity depending upon the convertible note (the &#8220;2019
Convertible Notes).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2020, Genius Group Ltd issued 36 month convertible loans in the principal amount of $1,819,145 which bear
interest at rates between 10% to 12% per annum, payable quarterly, annually or at maturity depending upon the convertible note (the &#8220;2019
Convertible Notes&#8221;). The convertible notes are convertible at the end of the term at the market price.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal amount
of $18,130,000 in face amount of a senior secured convertible note purchased for $17,000,000 by the selling shareholder or its affiliates
or assigns in a transaction that closed on August 26, 2022, which is convertible into our ordinary shares at an initial fixed price of
$5.17, subject to adjustment for stock dividends, stock splits, anti-dilution and other customary adjustment events. The ordinary shares
issuable upon conversion of the convertible note are being registered and will be sold pursuant to this prospectus by the selling shareholder.
In addition, subject to the satisfaction of equity conditions, we may, at our election, make monthly principal amortization payments
in our ordinary shares. If we elect to make amortization payments in ordinary shares, such ordinary shares will be valued at the lowest
of (x) the fixed conversion price, (y) 90% of the volume weighted average price of our ordinary shares on the trading day preceding the
amortization payment date and (z) 90% of the average of the three lowest volume weighted average prices for our ordinary shares during
the 20 trading days preceding the amortization payment date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fiscal year ended December 31, 2021, the Company and holders of 2019 Convertible Notes in the aggregate principal amount of $46,884
and $228 of accrued interest were converted into 13,487 Entrepreneur Resorts Ltd ordinary shares and 1,003 GeniusU Ltd ordinary shares
pursuant to conversion offers extended by Genius Group Ltd. and GeniusU Ltd at exercise prices equal to the fair value of Entrepreneur
Resorts Ltd and GeniusU Ltd ordinary share at the time of conversion. The Company recorded the conversions by reclassifying the carrying
value of the 2019 Convertible Notes to equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company and holder of 2019 Convertible Notes in the aggregate amount of $503,311 was repaid
and $4,454 along with the accrued interest of $18 were converted to into 743 Genius Group shares pursuant to conversion offer extended
by Genius Group Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fiscal year ended December 31, 2021, the Company and holders of 2020 Convertible Notes in the aggregate principal amount of $161,500
and $6,170 of accrued interest were converted into 13,306 GeniusU Ltd ordinary shares pursuant to conversion offers extended by Genius
Group Ltd and GeniusU Ltd at exercise prices equal to the fair value of a GeniusU Ltd ordinary share at the time of conversion. The Company
recorded the conversions by reclassifying the carrying value of the 2020 Convertible Notes to equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fiscal year ended December 31, 2022, the Company and holder of 2020 Convertible Notes in the agreement amount of $6,000 was
repaid and $221,000 along with the accrued interest of $3,764 were converted into 37,463 Genius Group shares pursuant to conversion offer
extended by Genius Group Ltd.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fiscal year ended December 31, 2022, the Company and holder of 2022 Convertible Note converted aggregate amount of $707,306
including the accrued interest of $235,146 into the equity of Genius Group based on the share price calculated as per the agreement.
The Company issued 1,515,891 Genius Group Shares to fulfill the conversion request.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Other
credit facilities</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
September of 2019, the Company obtained lines of credit in the aggregate amount of S$400,000 (approximately $296,912 at the 2019 exchange
rate) for working capital and business expansions requirements in Wealth Dynamics Pte Ltd, which the Company drew down on in full. Loans
in the amount of S$100,000 (approximately $74,228 at the 2019 exchange rate) shall be repaid over 36 monthly installments including both
principal and the respective accrued interest. Interest on such principal shall bear at a rate of 8% per annum plus a margin of 0.88%,
subject to adjustment. The Company has the option to prepay the loan before its maturity date, subject to a fee of 6.88% if paid within
twelve months from the drawdown date. Loans in the amount of S$300,000 (approximately $222,684 at the 2019 exchange rate) shall be repaid
over 60 monthly installments including both principal and the respective accrued interest. Interest on such principal shall bear at a
rate of 6.25% per annum, subject to adjustment. The loans are secured by personal guarantees of the Director. During the year ended December
31, 2022, the Company repaid an aggregate of S$98,589, approximately $72,492 at the 2022 exchange rate (2021 &#8212; S$91,063 approximately
$67,220 at the 2021 exchange rate) of principal plus the respective accrued interest.</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The outstanding principal as at December 31,
2022 is as follows -</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="width: 35%; text-align: left; padding-bottom: 1.5pt">IRD Loan</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">2021</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">1.30</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">2021</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">2022</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mastermind
Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The outstanding
principal amount as of December 31, 2022 is as follows -</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
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    <td style="padding-bottom: 1.5pt; width: 1%; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right">2020</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">5.03</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">2022</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="padding-bottom: 1.5pt; text-align: left">$</td><td style="padding-bottom: 1.5pt; text-align: right">41,335</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Contractual
Obligations and Commitments</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal commitments consist of obligations under operating leases. The following table sets forth the principal commitments as of December
31, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 80%; text-align: left">Within one year</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,664,966</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Two to five years</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,280,716</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Thereafter</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">17,871,937</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">25,817,619</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Less: finance charges component</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(12,832,744</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,984,875</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
material terms of these agreements are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tau
Game Lodge Pty Ltd (lodge) &#8212; The lease period is December 1, 1994 to November 30, 2034. The Company is currently in negotiations
to extend the term of the lease to November 30, 2047. The rental is made up of a fixed amount which increases by 10% on each anniversary
during the term of the lease and a variable amount being 8% of turnover. As of December 31, 2022, the lease commitment for the fixed
amount for the following one year totaled $74,311.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tau
Game Lodge Pty Ltd (office) &#8212; The lease period is February 1, 2020 to January 31, 2023. The basic rental amount increases by 8%
on each anniversary during the term of the lease. In January 2023, the new lease agreement was entered for the period February 1, 2023
to January 31, 2024. As of December 31, 2022, the lease commitment for the following one year totaled $16,767.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matla
Game Lodge Pty Ltd &#8212; The lease period is February 1, 1997 to January 31, 2096. The rental is made up of a fixed amount which increases
by 6% on each anniversary during the term of the lease. As of December 31, 2022, the lease commitment for the following one year totaled
$10,131.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Central Singapore Pte Ltd &#8212; The lease period is October 1, 2019 to September 30, 2022 which was renewed for additional 3 years
to September 30, 2025. The operating lease amount is made up of fixed rent which does not change for the term of the lease and percentage
rent which is calculated as 15% of turnover. As of December 31, 2022, the fixed rent commitment for the following one year totaled $399,064.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">University
of Antelope Valley Inc leases its campus. The lease period is July 2022 to July 2034. The rental is made up of a fixed amount which increases
by 3% on each anniversary during the term of the lease. As of December 31, 2022, the lease commitment for the following one year totaled
$1.2 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_008"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C.
Research and Development, Patents and licenses, etc.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
a discussion of our intellectual property, see the sections of this Annual Report titled &#8220;<i>Intellectual Property</i>&#8221;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="Z_009"></span>D.
Trend Information</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
than as disclosed elsewhere in this Annual Report, we are not aware of any trends, uncertainties, demands, commitments or events that
are reasonably likely to have a material adverse effect on our net revenues, income from continuing operations, profitability, liquidity
or capital resources, or that would cause the disclosed financial information to be not necessarily indicative of future operating results
or financial conditions. For more information, see the sections of this Annual Report titled &#8220;<i>Business Overview,</i>&#8221;
&#8220;<i>Operating Results,</i>&#8221; and &#8220;<i>Liquidity and Capital Resources.</i>&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_010"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>E.
Critical Accounting Estimates</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
consolidated financial statements are prepared in accordance with IFRS as issued by the IASB. The preparation of our consolidated financial
statements and related disclosures requires us to make estimates and judgments that affect the reported amounts of assets, liabilities,
costs and expenses, and the disclosure of contingent assets and liabilities in our consolidated financial statements. We base our estimates
on historical experience, known trends and events and various other factors that we believe are reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. We evaluate our estimates and assumptions on an ongoing basis. Our actual results may differ from these estimates
under different assumptions or conditions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
our significant accounting policies are described in more detail in our consolidated financial statements appearing elsewhere in this
Annual Report, we believe that the following accounting policies are those most critical to the judgments and estimates used in the preparation
of our consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Revenue
Recognition</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue
is recognized when the product is delivered or the service is completed without further obligation, or upon sale in the case of products
or services for which the terms and conditions do not allow for cancellation or refund. Revenue in advance is recognized as a liability
until the service obligation is fulfilled.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Share-based
Compensation</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
service-based awards, compensation expense is measured at the grant date based on the fair value of the award and is recognized on a
straight-line basis over the requisite service period, which is typically the vesting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Business
Combinations</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
record our acquisitions under the acquisition method of accounting in accordance with IFRS 3, except for common control business combinations
as discussed below. This accounting policy is applied consistently to similar transactions. Under this method most of the assets acquired
and liabilities assumed are initially recorded at their respective fair values and any excess purchase price is reflected as goodwill.
We utilize management estimates and, in some instances, independent third-party valuation firms to assist in determining the fair values
of assets acquired, liabilities assumed and contingent consideration, if any. Such estimates and valuations require us to make significant
assumptions, including projections of future events and operating performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of customer relationships, trade names/trademarks, patents, licenses, brand, human capital, and intellectual property acquired
in our business combinations are determined using various valuation methods, based on a number of significant assumptions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
control business combinations are outside the scope of IFRS 3. The Company has elected to account for common control business combinations
using the book value method. This accounting policy is applied consistently to similar transactions. The Company&#8217;s policy is to
present the financial statements for the pre-acquisition period to include the results of the common control entity, as if the acquisition
had taken place at the beginning of the earliest period presented. On the acquisition date, the Company records any difference between
the acquisition consideration and the book value of net assets at that date against reserves under Stockholders&#8217; Equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Lease
Agreements</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to IAS 17, a lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership.
A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership.
For leases classified as finance leases, the property is capitalized as leasehold property and is depreciated over the lease term. Leased
assets are depreciated over the shorter of their expected useful lives and the lease term.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finance
leases are recognized as assets and liabilities in the consolidated statement of financial position at amounts equal to the fair value
of the leased property or, if lower, the present value of the minimum lease payments. The corresponding liability to the lessor is included
in the consolidated balance sheet as a finance lease obligation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
discount rate used in calculating the present value of the minimum lease payments is the interest rate implicit in the lease. The lease
payments are apportioned between the finance charge and reduction of the outstanding liability. The finance charge is allocated to each
period during the lease term so as to produce a constant periodic rate on the remaining balance of the liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
lease payments are recognized as an expense on a straight-line basis over the lease term. The difference between the amounts recognized
as an expense and the contractual payments are recognized as an operating lease asset. This liability is not discounted. Any contingent
rents are expensed in the period they are incurred.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company adopted IFRS 16, Leases (&#8220;IFRS 16&#8217;) on January 1, 2019.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Goodwill
Impairment</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are required to assess our goodwill for impairment at least annually for each cash generating unit (&#8220;CGU&#8221;) that carries goodwill.
Goodwill is allocated to CGUs and tested for impairment at least annually, either as part of testing of individual CGUs if there is an
indicator of impairment, or as a separate test if there is no indicator of impairment. Or of impairment. For impairment testing purposes,
goodwill is allocated to those CGUs or groups of CGUs that are expected to benefit from the synergies of the combination even if no other
assets or liabilities of the acquiree are assigned to that CGU. The allocation is determined as at the date of acquisition. Goodwill
is impaired if the carrying amount of the CGUs to which it is allocated exceeds the recoverable amount (the higher of fair value and
value in use) of the CGUs. An impairment loss is the excess of an asset&#8217;s CGU carrying amount over its recoverable amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Growth Company and Foreign Private Issuer Status</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
qualify as an &#8220;emerging growth company&#8221; as defined in the JOBS Act. An emerging growth company may take advantage of specified
reduced reporting and other burdens that are otherwise applicable generally to public companies. These provisions include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
    the extent that we no longer qualify as a foreign private issuer, (i) reduced disclosure obligations regarding executive compensation
    in our periodic reports and proxy statements and (ii) exemptions from the requirement to hold a non-binding advisory vote on executive
    compensation, including golden parachute compensation;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting pursuant to
    the Sarbanes-Oxley Act of 2002; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    exemption from compliance with the requirement that the PCAOB has adopted regarding a supplement to the auditor&#8217;s report providing
    additional information about the audit and the financial statements.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may take advantage of these exemptions for up to five years or such earlier time that we are no longer an emerging growth company. We
would cease to be an emerging growth company upon the earliest to occur of: (i) the last day of the fiscal year in which we have total
annual gross revenues of $1.07 billion or more; (ii) the date on which we have issued more than $1.0 billion in nonconvertible debt during
the previous three years; (iii) the date on which we are deemed to be a large accelerated filer under the rules of the SEC; or (iv) the
last day of the fiscal year following the fifth anniversary of the closing of the Merger. We may choose to take advantage of some but
not all of these exemptions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards until such time as those
standards apply to private companies. The Company has elected not to opt out of such extended transition period, which means that when
a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth
company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Further, even after we
no longer qualify as an emerging growth company, we may qualify as a &#8220;smaller reporting company,&#8221; which would allow us to
take advantage of many of the same exemptions from disclosure requirements, including reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are also a &#8220;foreign private issuer.&#8221; Even after we no longer qualify as an emerging growth company, as long as we qualify
as a foreign private issuer under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable
to U.S. domestic public companies, including:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations with respect to a security registered
    under the Exchange Act;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#9679;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    requirement to comply with Regulation FD, which requires selective disclosure of material information;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#9679;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability
    for insiders who profit from trades made in a short period of time; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#9679;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and
    other specified information, or current reports on Form 8-K upon the occurrence of specified significant events.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may take advantage of these exemptions until such time as we are no longer a foreign private issuer. We would cease to be a foreign private
issuer at such time as more than 50% of our outstanding voting securities are held by U.S. residents and any of the following three circumstances
applies: (i) the majority of our executive officers or directors are U.S. citizens or residents; (ii) more than 50% of our assets are
located in the United States; or (iii) our business is administered principally in the United States.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Off-balance
sheet arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, we do not have transactions with unconsolidated entities, such as entities often referred to as structured finance
or special purpose entities, whereby we have financial guarantees, subordinated retained interests, derivative instruments, or other
contingent arrangements that expose us to material continuing risks, contingent liabilities, or any other obligation under a variable
interest in an unconsolidated entity that provides financing, liquidity, market risk, or credit risk support to us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_011"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
6. Directors, Senior Management and Employees</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_012"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.
<i>Directors and senior management.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information regarding our executive officers and directors as of the date of this Annual Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 43%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Age</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Position
    with our Company</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roger
    James Hamilton</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Chairman</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michelle
    Clarke</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Marketing Officer </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suraj
    Naik</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Technology Officer and Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Erez
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">59</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sandra
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">48</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nic
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anna
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">48</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard
    J. Berman</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">80</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Timothy
    Murphy</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Roger
James Hamilton </b>has been our Chief Executive Officer and Chairman since 2015. He is also the founder and Chief Executive Officer of
Entrepreneur Resorts Limited, a hospitality company and a subsidiary of Genius Group Ltd, since 2017, where he is responsible for the
growth of the company&#8217;s resorts and beach clubs and led the company through its initial public offering in 2017. Mr. Hamilton is
also founder and Chairman of Entrepreneurs Institute and GeniusU Ltd, which are both companies within Genius Group. Mr. Hamilton is a
New York Times bestselling author and entrepreneur who mentors other entrepreneurs to grow their enterprises and find their flow. He
holds a B.A. from the University of Cambridge.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Michelle
Clarke </b>has been our Chief Marketing Officer since 2017 and a Director since 2020. Ms. Clarke founded Talent Dynamics in Partnership
with Roger James Hamilton in 2009. Talent Dynamics is an extension of Wealth Dynamics for large teams and corporates. It grew into over
20 countries with over 500 mentors, before integrating into Entrepreneurs Institute in 2015. Michelle is now the Chief Marketing Officer
for GeniusU Ltd, where she mainly works with the top-level partners, to grow their businesses and communities on GeniusU.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Suraj
Naik </b>has been our Chief Technology Officer since 2017 and Director since 2020. Prior to joining the Group, Mr. Naik created an online
event ticketing and registration platform, which he later sold to Idea Wave Labs. After successfully launching Wealth Dynamics and Millionaire
Master Plan, where he was responsible for executing a 4-month campaign to ensure placement of <i>The Millionaire Master Plan </i>book
on the bestsellers lists of the <i>New York Times</i>, <i>USA Today</i>, Amazon and Barnes &amp; Noble, Suraj led the launch of GeniusU.
Mr. Naik holds an MBA from James Cook University and a bachelor&#8217;s degree from Maharaja Sayajirao University.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Erez
Simha </b>has been our Chief Financial Officer since July 2022 to accelerate Genius Group&#8217;s global growth. Erez brings over 20
years of experience and a proven track record of scaling high-tech disruptive companies in multiple industries, including food-tech,
blockchain, 3D printing, and digital assets. He held CFO and COO positions at multiple companies including Stratasys Ltd and Just Inc.
Throughout his career, Erez brought these companies into the mainstream and has helped them globally by implementing infrastructure and
building global teams and networks. He also brings with him intensive M&amp;A and post-merger integration experience, which will serve
Genius Group in its current strategy of growth through inorganic expansion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sandra
Morrell </b>was our Chief Operating Officer and Director from 2015. In 2020 she retired from the Chief Operating Officer position and
became a non-executive Director. Ms. Morrell has over 30 years&#8217; experience in management and general management positions in banking,
commerce, training and hospitality. Previously, from 2017 to 2020, Ms. Morrell was Chief Operating Officer of Entrepreneur Resorts Limited,
a hospitality company and a subsidiary of Genius Group, overseeing a multi-million-dollar portfolio of companies and a global leadership
team with offices in Australia, Indonesia, Singapore, Japan, Thailand, South Africa and England.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Patrick
Grove </b>has served as a Director since 2020. He is the Chief Executive Officer and co-founder of Catcha Group, an internet media company,
a role he has held since 2000. He has been listed by Bloomberg Businessweek as one of Asia&#8217;s Best Young Entrepreneurs, by Business
Week Asia as Top Entrepreneur under 40 and served as a judge of Talent Unleashed alongside Richard Branson and Steve Wozniak. He has
listed four tech companies: Iproperty.com (IPP:ASX), Catcha Media (CHM:MAL), iCARAsia (ICQ:ASX) and iBuy Group (IBY: ASX). iProperty
subsequently sold to a subsidiary of News Corp for A$751m and his latest company iFlix was recently acquired by Tencent. Mr. Grove holds
a bachelor&#8217;s degree from the University of Sydney.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nic
Lim </b>has served as a Director since 2018. Mr. Lim brings 20 years of experience in high-growth technology companies to the Board.
He is the founder of 8capita and Executive Chairman and founder of 8common Limited, a company focused on productivity and performance
enhancing software, which he founded in 2012 and which listed on the Australian Securities Exchange in 2014 (8CO:ASX). In 1999, he co-founded
Catcha.com, an internet media company, which has evolved and led to three initial public offerings of technology companies: Iproperty.com
(IPP:ASX), Catcha Media (CHM:MAL), iCARAsia (ICQ:ASX). Mr. Lim holds bachelor&#8217;s degrees from the University of Technology Sydney
and the University of Western Sydney.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Anna
Gong </b>is the Founder and CEO of Perx Technologies, the world&#8217;s first intelligent, autonomous loyalty and customer engagement
platform. With more than 20 years of experience in global enterprise software, Ms. Gong has held growth and executive positions in numerous
startups and prominent technology companies. Ms. Gong&#8217;s expertise and leadership in cloud computing and cutting-edge technologies
has earned her recognition as a LinkedIn CEO Power Profile, winner of Singapore Women Entrepreneur Award and Top 100 Women in Tech in
Singapore. Ms. Gong, a Tedx speaker is a sought-after thought leader and speaker on topics such as AI technology, building and scaling
startups, leadership, and digital transformation. Ms. Gong holds a bachelor&#8217;s degree from the University of California, Los Angeles.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Richard
J. Berman </b>joined Genius Group as a Director since January 2022 and also serves as Genius Group&#8217;s Audit Committee Chair. He
holds a BSc and an MBA degree from the Stern School of Business of NYU and U.S. and foreign law degrees. His business career spans over
35 years in senior management, mergers and acquisitions, and venture capital. He is a director of four public NASDAQ companies &#8211;
Cryoport Inc., Comsovereign Holding Corp., BioVie Inc., and Context Therapeutics Inc., and over the last decade he has served on the
board of six companies that have reached over one billion dollars in market cap &#8211; Cryoport, Advaxis, EXIDE, Internet Commerce Corp.,
Ontrak (Catasys), and Kapitus. His early career began with Goldman Sachs and thereafter he became the Senior Vice President of the Bankers
Trust Company, where he started the mergers and acquisitions, and leveraged buyout departments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Timothy
Murphy </b>has served as a Director since September 2022. Tim has 30 years of leadership in the global law enforcement, compliance, intelligence,
and business communities. He currently is the President and CEO of Consortium Networks, a cyber security and networking company, and
serves on the Board of Western Union. He previously was the President of Thomson Reuters Special Services and a Special Agent and Executive
in the FBI where he held a number of operational positions in a variety of field offices nationwide, investigating matters as diverse
as counterterrorism, intelligence, cyber and organized crime. And he eventually became the Deputy Director of the FBI, a position he
held until retiring in 2011.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Family
Relationships</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no family relationships between any of the directors. There are no family relationships between any director and any of the senior
management of our Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_049"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
Compensation.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Executive
Compensation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are not required to disclose compensation paid to our senior management on an individual basis under the laws of Singapore and we have
not otherwise publicly disclosed this information other than in this document and the associated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; width: 28%">Key Management Compensation</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">1,184,506</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">43,046</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_050"></span><i>C.
Board practices.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
board of directors consists of 9 directors, including 3 executive (or otherwise-non-independent) directors and 6 independent directors.
We established an Audit Committee, a Nominating and Corporate Governance Committee and a Compensation Committee upon the effectiveness
of our registration statement on Form F-1, on March 31, 2022. We adopted a charter for each of the three committees. Each of the committees
of our board of directors have the composition and responsibilities described below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Singapore Companies Act requires that we must have at all times at least one director who is ordinarily resident in Singapore. Roger
James Hamilton, Nic Lim, Anna Gong and Patrick Grove are all ordinarily resident in Singapore. Vacation of all six board positions by
these directors shall be deemed to be invalid absent a prior appointment of another director to the Board who is ordinarily resident
in Singapore.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Audit
Committee</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anna
Gong, Nic Lim, Tim Murphy and Richard J. Berman serve as members of our Audit Committee. Richard J. Berman serves as the chairman of
the Audit Committee. Each of our Audit Committee members satisfy the &#8220;independence&#8221; requirements of the NYSE American and
Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Richard J.
Berman possesses accounting or related financial management experience that qualifies him as an &#8220;audit committee financial expert&#8221;
as defined by the rules and regulations of the SEC. Our Audit Committee oversees our accounting and financial reporting processes and
the audits of our financial statements. Our Audit Committee performs several functions, including:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing
    the financial statements to be included in our Annual Report on Form 20-F and Current Reports on Form 6-K and reviews with management
    and the independent auditors the results of the annual audit and reviews of our quarterly financial statements;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">overseeing
    all aspects of our systems of internal accounting control and corporate governance functions on behalf of the Board;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing
    and approving in advance any proposed related-party transactions and report to the full Board on any approved transactions; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">providing
    oversight assistance in connection with legal, ethical and risk management compliance programs established by management and our
    board of directors, including Sarbanes-Oxley Act implementation, and makes recommendations to our board of directors regarding corporate
    governance issues and policy decisions.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Compensation
Committee</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nic
Lim, Patrick Grove, Tim Murphy and Anna Gong serve as members of our Compensation Committee. Anna Gong serves as the chairman of the
Compensation Committee. All of our Compensation Committee members satisfy the &#8220;independence&#8221; requirements of the NYSE American
and Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange Act. Our Compensation Committee is
responsible for overseeing and making recommendations to our board of directors regarding the salaries and other compensation of our
executive officers and general employees and providing assistance and recommendations with respect to our compensation policies and practices.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Nominating
and Corporate Governance Committee</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick
Grove, Anna Gong and Nic Lim serve as members of our Nominating and Corporate Governance Committee. Nic Lim serves as the chairman of
the Nominating and Corporate Governance Committee. All of our Nominating and Corporate Governance Committee members satisfy the &#8220;independence&#8221;
requirements of the NYSE American and Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange
Act. Our Nominating and Corporate Governance Committee is responsible for identifying and proposing new potential director nominees to
the board of directors for consideration and reviewing our corporate governance policies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duties
of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
Singapore law, our directors have a duty to act honestly, and in good faith in the best interests of our Company. Our directors are also
required to use reasonable diligence in the discharge of the duties of their office. Our Company has the right to seek damages if a duty
owed by our directors is breached.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
business of our Company shall be managed by, or under the direction or supervision of, our directors. Our directors may exercise all
the powers of our Company except any power that the Singapore Companies Act or our constitution requires our Company to exercise in general
meeting. The functions and powers of our board of directors include, among others:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">convening
    shareholders&#8217; annual general meetings and reporting its work to shareholders at such meetings;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">recommending
    dividends and distributions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">appointing
    officers and determining the term of office of officers;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exercising
    the borrowing powers of our Company and mortgaging the property of our Company; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approving
    the transfer of shares of our Company, including the registering of such shares in our register of members.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Terms
of Directors and Officers</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
directors are not subject to a set term of office.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
constitution provides that at each annual general meeting, one-third of the directors for the time being, or if the number is not three
or a multiple of three, then the number nearest one-third, shall retire from office by rotation and will be eligible for re-election
at that annual general meeting (the directors so to retire being those longest in office since their last election). The office of a
director will be vacated if, among other things, the director becomes prohibited by law from acting as a director, resigns in writing,
has a receiving order made against him or suspends payments or compounds with his/her creditors generally or is found lunatic or becomes
of unsound mind.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
officers, such as our Chief Executive Officer and our Chief Financial Officer, are appointed by and serve at the discretion of our board
of directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_013"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>D.
Employees</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently have 573 staff members, with 18 in Genius Group Ltd, 59 in GeniusU Ltd, 214 within Entrepreneur Resorts Ltd., 165 in University
of Antelope Valley, 26 in Property Investors Network, 35 in E-Squared, 20 in Education Angels and 36 in Revealed Films. We operate as
one global team with regional leadership, and we established a remote working culture prior to the COVID-19 crisis, which put us in a
strong position to manage through the crisis without any major change to our management process.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
illustration, our main leadership team works from Singapore, Australia, New Zealand, Indonesia, South Africa, England, Portugal, Poland
and the United States. Our accounts team operates from Australia and our development team works from India, Ukraine and Poland. Our campus
teams are based in Indonesia, Singapore and South Africa.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Share
Incentive Plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Genius Group share incentive plan (the &#8220;Incentive Plan&#8221;) was introduced in 2018 to the then-existing employees of Genius
Group Ltd. It was subsequently extended to all companies within the Pre-IPO Group. We have further adopted Share Incentive Plan 2023
and our intention is to extend it to the Acquisitions and to continue to extend the plan to new employees and new acquisitions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of our Incentive Plan is to provide eligible persons with an opportunity to share in the growth in value of our shares and to
encourage them to improve the performance of Genius Group&#8217;s return to shareholders. It is also intended that the Incentive Plan
will enable Genius Group to retain and attract skilled and experienced employees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
summary, the rules of the Incentive Plan are:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    option pool is determined by the Board of Directors at the beginning of each calendar year. The size of the pool is approximately
    equivalent to two months payroll cost and may change from time to time.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options
    are granted from the pool to eligible employees each year. Eligible employees are those that are in full-time employment and have
    been employed by the Company for at least three months prior to December 31 each year.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
    the grant date, employees are issued with a letter stating the number of options earned and the exercise price. These are calculated
    based on the total options pool available, and divided pro rata to their length of employment in the year and proportional to their
    salary as a percentage of total wages.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    exercise price is at the share price at the time of the grant date.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    vesting date is one year after the grant date. In order to vest, an employee must still be in employment with Genius Group as of
    the vesting date.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
    the vesting date, eligible employees may exercise their option at the pre-fixed exercise price.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should
    employees choose to exercise their option, shares are issued as an interest-free loan repayable at the time of sale of the shares.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should
    employees not to exercise, or if they leave employment prior to the vesting date, the options lapse.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees
    are required to complete the KYC (Know Your Customer) process before receiving the share certificates.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
are details of the options and restricted stock units issued to date:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td>&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employment
Agreements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have entered into employment agreements with each of our executive officers for a specified time period providing that the agreements
are terminable for cause at any time. The terms of these agreements are substantially similar to each other. A senior executive officer
may terminate his or her employment at any time upon 30 days&#8217; prior written notice. We may terminate the executive officer&#8217;s
employment for cause, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction
or plea of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to our detriment, or misconduct or
a failure to perform agreed duties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
executive officer has agreed to hold in strict confidence and not to use, except for the benefit of our Company, any proprietary information,
technical data, trade secrets and know-how of our Company or the confidential or proprietary information of any third party, including
our subsidiaries and our clients, received by our Company. Each of these executive officers has also agreed to be bound by noncompetition
and non-solicitation restrictions during the term of his or her employment and typically for two years following the last date of employment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_014"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>E.
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Refer
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_015"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_016"></span><b><i>A.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information regarding the beneficial ownership of our ordinary shares as of the date of this Annual Report
by (i) our officers and directors, (ii) our officers and directors as a group, and (iii) 5% or greater beneficial owners of ordinary
shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have determined beneficial ownership in accordance with the rules of the NYSE American and Upstream. These rules generally attribute
beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities.
The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within
60 days. Unless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares
shown as beneficially owned by him, subject to applicable community property laws.</span></p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**%</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Erez Simha</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**%</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 10pt; font-weight: bold; text-align: left">All directors and executive officers as a group (9 individuals)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">11,451,289</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">41.33</td><td style="text-align: left">%</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**
Less than 1%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Amount of Beneficial Ownership includes allocated shares only and does not include share
                                            options that are exercisable within 60 days, since there are no such share options.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Percentage of Outstanding Shares is based on the total outstanding shares of 27,705,227 as
                                            of December 31, 2022, which includes all issued and outstanding shares.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Out
                                            of the 9,304,812 beneficially owned ordinary shares, 393,042 shares will be transferred back
                                            to the Company and cancelled in the future as per previous agreements between the Company
                                            and Mr. Hamilton</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(4)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Out
                                            of the 761,010 beneficially owned ordinary shares, 226,572 shares will be transferred back
                                            to the Company and cancelled in the future as per previous agreements between the Company
                                            and Ms. Morrell</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_017"></span><i>B.
Related party transactions</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Before
the completion of the IPO, we adopted an audit committee charter, which requires the committee to review all related-party transactions
on an ongoing basis and that all such transactions be approved by the committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Set
forth below are the related party transactions of our Company that occurred during the last full fiscal year up to the date of this Annual
Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related
Party Transactions in 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>World
Game Pte Ltd (Roger Hamilton) &#8212; </i>The Pre-IPO Group paid fees to World Game Pte Ltd for the services of Roger Hamilton as CEO
amounting to $621,348 in 2022. The outstanding balance payable as at December 31, 2022 was $78,235.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Employee
share Option Plan &#8212; loan &#8212; </i>In April 2022, the company granted 134,214 share options to the employees for the year 2021
under Employee share option plan. None of the options are exercised and hence the outstanding balance under subscription receivables
remains unchanged.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Entrepreneurs
Institute Australia Pty Ltd &#8212; </i>The Pre-IPO Group pays fees to Entrepreneurs Institute Australia Pty Ltd (&#8220;EIA&#8221;),
an Australian company controlled and ultimately owned by Roger Hamilton and Sandra Morrell, directors of Genius Group Ltd. The total
in 2022 was $325,243. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support to
the Group with its own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a
material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement. The outstanding
balance payable as at December 31, 2022 was $35,305.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GU
Web Services India Pvt Ltd &#8212; </i>The Pre-IPO Group pays fees to GeniusU Web Services India Pvt Ltd (&#8220;GU India&#8221;), an
Indian company controlled and ultimately owned by Suraj Naik, an employee of the Pre- IPO Group, and a family member of Suraj Naik. The
total in 2021 was $209,322. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support
to the Group with its own business requirements as well as catering to external clients. GU India on-charges its costs and does not record
a material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Roger
Hamilton &#8212; </i>The loan payable to Roger Hamilton for the acquisition of Entrepreneurs Institute is non-interest bearing, with
payments of $348,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount
of $348,000 was repaid during 2022. The total outstanding balance on December 31, 2022 was $nil.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Revealed
Films</i> &#8211; The loan payable to the prior owner of Revealed Films (Jeff Hays and Patrick Gentempo) for the acquisition of Revealed
Films in Oct 2022 is non-interest bearing with payment of $2,000,000 due on or before March 31, 2023. The total outstanding balance on
December 31, 2022 was $2,000,000. </span>During December 2022, Revealed Films sold the rights to a movie for $451,101 and purchased the
rights to a movie for $433,964; both transactions were with Jeff Hays Films LLC. Jeff Hayes is the owner of Jeff Hays Films LLC and was
one or the former owners of Revealed Films before its acquisition by the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><i>University of Antelope Valley
&#8211; </i>During July 2022, the Company signed two lease agreements for University of Antelope Valley university buildings with the
former owners of University of Antelope Valley, both with 12-year terms. A right of use asset and a lease liability of $11,149,101 was
booked to the Consolidated Statements of Financial Condition for the leases.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>E-Squared
Education</i> - The loan payable to the prior owner of E-Squared Education (Lilian Niemann) for the acquisition of E-Squared in May 2022
is non-interest bearing with payment of ZAR 3.6 million (approx. $299,231) payable on or before Nov 30, 2022. The total outstanding balance
on December 31, 2022 was $299,231.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related
Party Transactions in 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>World
Game Pte Ltd (Roger Hamilton) &#8212; </i>The Pre-IPO Group paid fees to World Game Pte Ltd for the services of Roger Hamilton as CEO
amounting to $593,068 in 2021. The outstanding balance payable as at December 31, 2021 was $11,767.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Employee
share Option Plan &#8212; loan &#8212; </i>In December 2021 some of the employees who had been granted options in December 2020 exercised
those options, and under the terms of the Employee Share Option Plan the exercise price is recorded as an interest free loan to each
employee, repayable on sale of the shares. The total loan amount for December 2021 was $433,800. To the extent that such loans are made
to directors and officers, then before the Company&#8217;s IPO the Company will redeem a sufficient number of the allotted shares for
each employee as will satisfy the loan obligations in full.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Entrepreneurs
Institute Australia Pty Ltd &#8212; </i>The Pre-IPO Group pays fees to Entrepreneurs Institute Australia Pty Ltd (&#8220;EIA&#8221;),
an Australian company controlled and ultimately owned by Roger Hamilton and Sandra Morrell, directors of Genius Group Ltd. The total
in 2021 was $172,740. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support to
the Group with its own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a
material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement. The outstanding
balance payable as at December 31, 2021 was $33,443.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GU
Web Services India Pvt Ltd &#8212; </i>The Pre-IPO Group pays fees to GeniusU Web Services India Pvt Ltd (&#8220;GU India&#8221;), an
Indian company controlled and ultimately owned by Suraj Naik, an employee of the Pre- IPO Group, and a family member of Suraj Naik. The
total in 2021 was $167,735. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support
to the Group with its own business requirements as well as catering to external clients. GU India on-charges its costs and does not record
a material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Roger
Hamilton &#8212; </i>The loan payable to Roger Hamilton for the acquisition of Entrepreneurs Institute is non-interest bearing, with
payments of $348,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount
of $348,000 was not repaid during 2021. The total outstanding balance on December 31, 2021 was $348,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sandra
Morrell &#8212; </i>The loan payable to Sandra Morrell for the acquisition of Entrepreneurs Institute is non- interest bearing, with
payments of $32,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount of
$32,000 was repaid during 2021. The total outstanding balance on December 31, 2021 was $nil.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Michelle
Clarke &#8212; </i>The loan payable to Michelle Clarke for the acquisition of Entrepreneurs Institute is non- interest bearing, with
payments of $20,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount of
$20,000 was repaid during 2021. The total outstanding balance on December 31, 2021 was $nil.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="Z_018"></span>C.
Interest of experts and counsel</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_019"></span>Item
8. Financial Information</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_020"></span>A.
Consolidated Statements and Other Financial Information</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
&#8220;Item 18. Financial Statements.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal
Proceedings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are currently not a party to any legal, arbitration or administrative proceedings that, in the opinion of our management, are likely
to have a material and adverse effect on our business, financial condition or results of operations, and we are not aware of any threat
of any of the above-mentioned proceedings. However, we may from time to time become a party to various legal, arbitration or administrative
proceedings arising.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividend
Policy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may, by ordinary resolution, declare dividends at a general meeting of shareholders, but we are restricted from paying dividends in excess
of the amount recommended by our board of directors. Pursuant to Singapore law and our constitution, no dividend may be paid except out
of our profits. To date, we have not declared any cash dividends on our ordinary shares and have no current plans to pay cash dividends
in the foreseeable future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_021"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
Significant Changes</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have had a number of significant changes since the date of our audited consolidated financial statements included in this Annual Report.
These include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
    Group consummated its initial public offering on the NYSE American (ticker: GNS) as of April 14, 2022 with the issuance of 3,272,727
    ordinary shares at an IPO price of $6 per share.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
    group dual listed on Upstream on April 6, 2023</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
    Group also completed the follow on round of convertible loan in the principal
amount of $18,130,000 in face amount of a senior secured convertible note purchased for $17,000,000. Genius Group issued 11,562,825 ordinary
shares prior to raising the dispute on the contract. Both the parties agreed to limit the further issuance of ordinary shares to 13,000,000
shares of which 8,994,841 were issued as of April 26, 2023.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
    Group closed five Acquisitions during 2022 namely Property Investors Network and Education Angels on April 30, 2022, E-Squared Education
    on May 31, 2022, University of Antelope Valley on July 07, 2022 and Revealed Films on October 04, 2022.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
9. The Offer and Listing.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>A.
Offer and listing details.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>B.
Plan of distribution.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>C.
Markets.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ordinary shares are listed and traded on NYSE American and Upstream.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>D.
Selling Shareholders.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>E.
Dilution.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>F.
Expenses of the Issue.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_022"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
10. Additional Information.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_023"></span><i>A.
Share Capital.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="Z_024"></span>B.
Memorandum and articles of association.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are registered under the Companies Act in the Republic of Singapore under number 201541844C. A copy of our Memorandum and Articles of
Association is attached as Exhibit 3.1 to this Annual Report. The information called for by this Item is incorporated by reference from
the sections titled &#8220;Description of Share Capital&#8221; and &#8220;Comparison of Shareholder Rights&#8221; from our final prospectus
filed with the SEC on April 12, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="Z_025"></span>C.
Material Contracts.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
than contracts entered into the ordinary course of business, during the two preceding fiscal years the Company has entered into the following
material contracts (which are included as exhibits to this Annual Report):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">University
of Antelope Valley</span>. UAV is a California-based, WASC accredited, U.S. university issuing degrees on campus and on-line.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;The
    Share Purchase Agreement was signed on March 22, 2021 between Genius Group Ltd and the owners of University of Antelope Valley Inc.
    and University of Antelope Valley LLC, Sandra Johnson and Marco Johnson, for the purchase of 100% of the shares in University of
    Antelope Valley Inc.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    purchase price in accordance with the original Stock Purchase Agreement is $24 million in cash and $6 million in shares in Genius
    Group, with the share of Genius Group Ltd paid at the pre- split price of US$34.87 per share. The actual number of our ordinary shares
    issuable to the University of Antelope Valley will be based on the actual price per share in the IPO. In an amendment signed on March
    24, 2022 the consideration was amended to $6.5 million in cash, $6 million in shares in Genius Group and $17.5 million in a note
    payable.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
    the time of signing, Genius Group deposited $500,000 in escrow, to be paid towards the purchase price on closing. This was released
    to the Johnsons in December 2021.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    the event that UAV&#8217;s 2021 revenues exceed UAV&#8217;s 2020 target revenue of $13 million, Genius Group will pay a Bonus Closing
    Consideration which will be an addition to the $30 million acquisition price based on a percentage increase in the acquisition price
    equal to the percentage increase in 2021 revenues over UAV&#8217;s 2020 target revenue of $13 million. For example, if 2021&#8217;s
    revenue were $1.3 million higher than $13 million, representing a 10% increase, Genius Group would pay a Bonus Closing Consideration
    of $3 million, representing a 10% increase on the $30 million acquisition price. Any Bonus Closing Consideration would be paid in
    shares of Genius Group Ltd at the market price.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    agreement also includes an option for Genius Group to purchase the university properties, which are under the ownership of University
    of Antelope Valley LLC, at market rate for a period of two years from the closing date of this agreement. It also includes a right
    of first refusal in the event another buyer comes forward for the properties during this time.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Closing
    is contingent on UAV both receiving consent from the relevant education authority and not receiving any objections to consent from
    any relevant education agency. UAV has notified all agencies, WSCUC has provided consent for the acquisition and no agency has objected
    to the acquisition. As such, all is in good order with relation to consents.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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    extending letter was signed on September 30, 2021 to extend the latest closing date to November 30, 2021.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on December 21, 2021 to extend the terms of the agreement to January 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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    extending letter was signed on January 23, 2022 to extend the terms of the agreement to February 28, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    amendment was signed on March 24, 2022 to extend the terms of the agreement to April 30, 2022, and to amend the consideration to
    $6.5 million in cash, $6 million in shares in Genius Group and $17.5 million in a note payable.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    amendment was signed on April 18, 2022 to extend the terms of the agreement to December 31, 2022, and to amend the consideration
    to $6 million in shares in Genius Group based on the IPO price of $6 per ordinary share.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    amendment was signed on May 18, 2022 to adjust the closing date to June 30, 2022 as well as updating the &#8216;payment of top up
    consideration&#8217; based on the performance of UAV over the 2022, 2023 and 2024 fiscal years.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    amendment was signed on June 30, 2022 to adjust the closing date to July 7, 2022.</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of UAV was closed on July 7, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Education
Angels. </span>Education Angels delivers home educators and childcare for 0-5 year old&#8217;s with creative thinking and play modules.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Share Purchase Agreement was signed on October 22, 2020 between Genius Group Ltd and the owners of Education Angels, David Raymond
    Hitchins and Angela Stead, for the purchase of 100% of the shares in Education Angels in Home Childcare Limited.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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    price of NZ$3 million.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    payment will be 100% in shares of Genius Group Ltd, set at the pre-split price of US$34.87 per share.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition, less
    any director&#8217;s loans or shareholder&#8217;s loans.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    sellers agree not to see any shares in Genius Group Ltd for at least 6 months from closing in the case of David Hitchins and 12 months
    in the case of Angie Stead.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on December 17, 2021 to extend the terms of the agreement to March 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on March 24, 2022 to extend the terms of the agreement to June 30, 2022.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of Education Angels was completed on April 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">E-Square</span>.
E-Square is a full campus with primary, secondary and college education for students in entrepreneurship.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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    Share Purchase Agreement was signed on November 20, 2020 between Genius Group Ltd and the owner of E-Square, Lilian Magdalena Niemann,
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of E-Square closed May 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Property
Investors Network</span>. PIN is a UK-based property networking organization.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Share Purchase Agreement was signed on November 30, 2020, between Genius Group Ltd and the owner of Property Investors Network (PIN),
    Simon Zutshi on behalf of Property Mastermind International Pte Ltd (MPL), for the purchase of 100% of the shares in Property Investors
    Network Ltd and Mastermind Principles Ltd.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    purchase price was calculated as 1x the annual revenue in 2019 or 2020 (whichever is higher) of the two companies in the agreement.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    payment will be 10% in cash and 90% in shares of Genius Group Ltd, set at the pre-split price of US$34.87 per share, with the shares
    paid on closing and the cash paid within 7 days of closing.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition, less
    any director&#8217;s loans or shareholder&#8217;s loans.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    parties agree to clear all director&#8217;s loans and shareholder&#8217;s loans from the balance sheets of the two companies first
    by Genius Group paying &#163;1.5 million (US$2.0 million) to MPL on behalf of the seller in order to pay off part of the outstanding
    loans, and second by the seller repaying any remaining unpaid loans within three years of the closing date.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on September 30, 2021 to extend the terms of the agreement to December 31, 2021.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on December 17, 2021 to extend the terms of the agreement to March 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    extending letter was signed on March 24, 2022 to extend the terms of the agreement to June 30, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    amendment was signed on April 30, 2022, to reflect a change in the terms of the purchase price consideration to 2x revenue or 10x
    EBITDA.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of Property Investors Network was completed on April 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Revealed
Films </span>is a US based Film Production Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Share Purchase Agreement was signed on October 4, 2022 between Genius Group Ltd and the owners of Revealed Films, Jeff Hays and Patrick
    Gentempo, for the purchase of 100% of the shares in Revealed Films Inc.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    purchase price is calculated as $10 million with additional top ups on achieving the pre-agreed revenue and profit targets.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    payment will be $7 million in shares of Genius Group Ltd, set at price of US$5.17 per share, of which $ million in shares would be
    subject to a six month lock up agreement. And the balance of $3 million in cash to be paid $1 million immediately following acquisition
    and $2 million on or before December 31, 2022.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as at the date of the acquisition, less
    any director&#8217;s loans or shareholder&#8217;s loans.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    balance cash consideration was paid $1 million in Jan 2023 and $ million in March 2023 as per the subsequent agreement.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquisition of Education Angels was completed on October 4, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_026"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>D.
Exchange controls.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no Singapore laws, decrees, regulations or other legislation that impose foreign exchange controls on us or that affect our payment
of dividends, interest or other payments to non-resident holders of our shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_027"></span><i>E.
Taxation.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following discussion is a summary of material Singapore income tax, Goods and Services Tax, stamp duty and estate duty considerations
relevant to the purchase, ownership and disposition of our ordinary shares by an investor who is not tax resident or domiciled in Singapore
and who does not carry on business or otherwise have a presence in Singapore. The statements made herein regarding taxation are based
on certain aspects of the tax laws of Singapore and administrative guidelines issued by the relevant authorities in force as of the date
hereof and are subject to any changes in such laws or administrative guidelines, or in the interpretation of those laws or guidelines,
occurring after such date, which changes could be made on a retroactive basis. The statements made herein do not describe all of the
tax considerations that may be relevant to all our shareholders, some of which (such as dealers in securities) may be subject to different
rules. The statements are not intended to be and do not constitute legal or tax advice and no assurance can be given that courts or fiscal
authorities responsible for the administration of such laws will agree with the interpretation adopted therein. Each prospective investor
should consult an independent tax advisor regarding all Singapore income and other tax consequences applicable to them from owning or
disposing of our ordinary shares in light of the investor&#8217;s particular circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Income
Taxation Under Singapore Law</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Dividend
Distributions with Respect to Ordinary Shares</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
the basis that a company is not tax resident in Singapore for Singapore tax purposes, dividends paid by the company should generally
be considered as sourced outside Singapore. Dividends paid by the company incorporated in Singapore under the one-tier tax exemption
scheme would allow such dividends not to be subjected to a withholding tax at the point of the distribution nor to be taxed in Singapore
upon receipt of such dividends in the hands of the holders of the shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign-sourced
dividends received or deemed received in Singapore by an individual not resident in Singapore would be exempt from Singapore income tax.
This exemption will also apply in the case of a Singapore tax resident individual who receives such foreign-sourced income in Singapore
(except where such income is received through a partnership in Singapore).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign-sourced
dividends received or deemed received by corporate investors in Singapore will be liable for Singapore tax. However, if the conditions
for the exemption of specified foreign-sourced income are met, foreign-sourced dividends received by corporate investors resident in
Singapore would be exempt from Singapore tax.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign-sourced
dividends received or deemed received in Singapore on or after June 1, 2003 by a Singapore resident corporate taxpayer is exempt from
tax, provided certain prescribed conditions are met, including the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">such
    income is subject to tax of a similar character to income tax under the law of the jurisdiction from which such income is received;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at
    the time the income is received in Singapore, the highest rate of tax of a similar character to income tax (by whatever name called)
    levied under the law of the territory from which the income is received on any gains or profits from any trade or business carried
    on by any company in that territory at that time is not less than 15%; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    Comptroller of Income Tax is satisfied that the tax exemption would be beneficial to the person resident in Singapore.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 88.55pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the case of dividends paid by a company resident in a territory from which the dividends are received, the &#8220;subject to tax condition&#8221;
in (a) above is considered met where tax is paid in that territory by such company in respect of its income out of which such dividends
are paid or tax is paid on such dividends in that territory from which such dividends are received. Certain concessions and clarifications
have also been announced by the Inland Revenue Authority of Singapore (&#8220;IRAS&#8221;) with respect to the above conditions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">Capital
Gains upon Disposition of Ordinary Shares</span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
current Singapore tax law, there is no tax on capital gains. As such, any profits from the disposal of our ordinary shares would not
ordinarily (where such decision to transact would have been made in Singapore) be taxable in Singapore unless the profits are deemed
to be income in nature. However, there are no specific laws or regulations which deal with the characterization of whether a gain is
income or capital in nature. If the decision to transact can be construed as having been made in Singapore and the gains from the disposal
of ordinary shares can be construed to be of an income nature (the IRAS would look at the determining factors such as the motive, the
holding period, the frequency of transactions, the nature of the subject matter, the circumstances of realization, the mode of financing
and other factors to determine the nature of the trade), the disposal profits would be taxable as income rather than capital gains. As
the precise status of each prospective investor will vary from one another, each prospective investor should consult an independent tax
advisor on the Singapore income tax and other tax consequences that will apply to their individual circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to certain conditions being satisfied, gains derived by a company from the disposal of our ordinary shares between the period of June
1, 2012 and December 31, 2027 (inclusive of both dates) will not be subject to Singapore income tax, if the divesting company holds a
minimum shareholding of 20% of our ordinary shares and these shares have been held for a continuous minimum period of 24 months. For
disposals during the period from June 1, 2012, and May 31, 2022 (inclusive of both dates), this exemption would not apply to the disposal
of unlisted shares in a company that is in the business of trading or holding immovable properties in Singapore (excluding property development).
For disposals during the period from June 1, 2022, and December 31, 2027 (inclusive of both dates), this exemption would not apply to
the disposal of unlisted shares in a company that is in the business of trading, holding or developing immovable properties in Singapore
or abroad.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, shareholders who apply, or who are required to apply, the Singapore Financial Reporting Standard 39 (&#8220;FRS 39&#8221;),
Financial Reporting Standard 109 (&#8220;FRS 109&#8221;) or Singapore Financial Reporting Standard (International) 9 (Financial Instruments)
(&#8220;SFRS(I) 9&#8221;) (as the case may be), for the purposes of Singapore income tax may be required to recognize gains or losses
(not being gains or losses in the nature of capital) in accordance with the provisions of FRS 39, FRS 109 or SFRS(I) 9 (as modified by
the applicable provisions of Singapore income tax law) even though no sale or disposal of our ordinary shares is made. Singapore corporate
shareholders who may be subject to such tax treatment should consult their own accounting and tax advisors regarding the Singapore income
tax consequences of their acquisition, holding and disposal of our ordinary shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stamp
Duty</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is no Singapore stamp duty payable in respect of the issuance or holding of our new ordinary shares. Singapore stamp duty will be payable
if there is an instrument of transfer of our ordinary shares executed in Singapore or if there is an instrument of transfer executed
outside of Singapore which is received in Singapore. Under Singapore law, and subject to meeting the qualifying requirements, stamp duty
is not applicable to electronic transfers of our shares effected on a book entry basis outside Singapore. We therefore expect that if
all qualifying conditions are met, no Singapore stamp duty will be payable in respect of ordinary shares purchased by U.S. holders in
the IPO assuming that they are acquired solely in book entry form through the facility outside Singapore established by our transfer
agent and registrar outside Singapore.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where
shares evidenced in certificated form are transferred and an instrument of transfer is executed (whether physically or in the form of
an electronic instrument) in Singapore or outside Singapore and which is received in Singapore, Singapore stamp duty is payable on the
instrument of transfer for the sale of our ordinary shares at the rate of 0.2% of the consideration for, or market value of, the transferred
shares, whichever is higher. The Singapore stamp duty is borne by the purchaser unless there is an agreement to the contrary. Where the
instrument of transfer is executed outside of Singapore and is received in Singapore, Singapore stamp duty must be paid within 30 days
of receipt of the instrument of transfer in Singapore. Electronic instruments that are executed outside Singapore are treated as received
in Singapore in any of the following scenarios: (a) it is retrieved or accessed by a person in Singapore; (b) an electronic copy of it
is stored on a device (including a computer) and brought into Singapore; or (c) an electronic copy of it is stored on a computer in Singapore.
Where the instrument of transfer is executed in Singapore, Singapore stamp duty must be paid within 14 days of the execution of the instrument
of transfer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Goods
and Services Tax</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
issue or transfer of ownership of our ordinary shares would be exempt from Singapore goods and services tax, or GST. Hence, no GST would
be incurred on the subscription or subsequent transfer of our ordinary shares.</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
sale of our ordinary shares by a GST-registered investor belonging in Singapore for GST purposes to another person belonging in Singapore
is an exempt supply not subject to GST. Any input GST incurred by the GST-registered investor in making the exempt supply is generally
not recoverable from the Singapore Comptroller of GST.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where
our ordinary shares are sold by a GST-registered investor in the course of or furtherance of a business carried on by such investor contractually
to and for the direct benefit of a person belonging outside Singapore, the sale should generally, subject to satisfaction of certain
conditions, be considered a taxable supply subject to GST at 0%. Subject to the normal rules for input tax claims, any input GST incurred
by the GST-registered investor in making such a supply in the course of or furtherance of a business carried out by such investor may
be fully recoverable from the Singapore Comptroller of GST.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
prospective investor should consult an independent tax advisor on the recoverability of input GST incurred on expenses in connection
with the purchase and sale of our ordinary shares if applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Services
consisting of arranging, brokering, underwriting or advising on the issue, allotment or transfer of ownership of our ordinary shares
rendered by a GST-registered person to an investor belonging in Singapore for GST purposes in connection with the investor&#8217;s purchase,
sale or holding of our ordinary shares will be subject to GST at the standard rate of 7%. Similar services rendered by a GST-registered
person contractually to and for the direct benefit of an investor belonging outside Singapore should generally, subject to the satisfaction
of certain conditions, be subject to GST at 0%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
the implementation of reverse charge from January 1, 2020, the &#8220;directly benefit&#8221; condition for zero- rating (i.e. GST at
0%) will be amended to allow the zero-rating of a supply of services to the extent that the services directly benefit a person belonging
outside Singapore or a GST-registered person in Singapore.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the reverse charge regime, a GST-registered partially exempt business that is not entitled to full input tax claims will be required
to account for GST on all services that it procures from overseas suppliers (except for certain services which are specifically exempt
from reverse charge). A non GST-registered person whose total value of imported services for a 12-month period exceeds S$1 million and
is not entitled to full input tax claims even if such person was GST-registered may become liable for GST registration and be required
to account for GST both on its taxable supplies and imported services subject to reverse charge.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Estate
Duty</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore
estate duty has been abolished with effect from February 15, 2008 in relation to the estate of any person whose death has occurred on
or after February 15, 2008.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Tax
Treaties Regarding Withholding Taxes</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is currently no comprehensive avoidance of double taxation agreement between the United States and Singapore which applies to withholding
taxes on dividends or capital gains.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>POTENTIAL
PURCHASERS OF OUR ORDINARY SHARES ARE URGED TO CONSULT THEIR OWN TAX ADVISORS TO DETERMINE THE U.S. FEDERAL, STATE, LOCAL, AND NON-U.S.
INCOME, GIFT, ESTATE OR GENERATION-SKIPPING TRANSFER, AND OTHER TAX AND TAX TREATY CONSIDERATIONS OF PURCHASING, OWNING AND DISPOSING
OF OUR ORDINARY SHARES.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_028"></span><i>F.
Dividends and paying agents.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="Z_029"></span>G.
Statement by experts.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_030"></span><i>H.
Documents on display.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
previously filed with the SEC our registration statement on Form F-1, as amended and prospectus under the Securities Act of 1933, with
respect to our ordinary shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to the periodic reporting and other informational requirements of the Exchange Act. Under the Exchange Act, we are required
to file reports and other information with the SEC. Specifically, we are required to file annually a Form 20-F within four months after
the end of each fiscal year, which is December 31. The SEC maintains a website at www.sec.gov that contains reports, proxy and information
statements, and other information regarding registrants that make electronic filings with the SEC using its EDGAR system. As a foreign
private issuer, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of quarterly reports and proxy
statements, and officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions
contained in Section 16 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also make available on the Investors section of our website, free of charge, our Annual Reports on Form 20-F and the text of our reports
on Form 6-K, including any amendments to these reports, as well as certain other SEC filings, as soon as reasonably practicable after
they are electronically filed with or furnished to the SEC. Our website address is www.geniusgroup.net. The information on that website
is not part of this Annual Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
announce material financial information to our investors using our Investors website (investors.geniusgroup.net), SEC filings, press
releases, public conference calls, and webcasts. We use these channels, as well as social media, to communicate with our users and the
public about our company, our services, and other issues. It is possible that the information we post on these channels could be deemed
to be material information. Therefore, we encourage investors, the media, and others interested in our company to review the information
we post on the channels listed on our Investors website. Information contained on our website is not part of this Annual Report on Form
20-F or any other filings we make with the SEC.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_051"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>I.
Subsidiary Information.</i></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
refer to &#8220;Item 4. Information on the Company - C. Organization Structure.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_031"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
11. Quantitative and Qualitative Disclosures About Market Risk.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
rate fluctuations, primarily due to the uncertain future behavior of markets, may have a material impact on the financial results of
a company. Given the fact that the Company has no outstanding bank borrowings or loans, we believe we have not been exposed to material
risks due to changes in market interest rates. However, we cannot provide assurance that we will not be exposed to material risks due
to changes in market interest rate in the future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Exchange Risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
functional currency of our operating subsidiary is SGD, and therefore our operations are exposed to foreign exchange rate fluctuations.
Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly
changes in the SGD to the U.S. dollar.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_032"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
12. Description of Securities Other than Equity Securities.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
II</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_033"></span>Item
13. Defaults, Dividend Arrearages and Delinquencies.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no defaults, dividend arrearages and delinquencies or other information required to be disclosed in response to this Item.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_034"></span>Item
14. Material Modifications to the Rights of Security Holders and Use of Proceeds.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the IPO (including over-allotment exercise), the Company issued and sold 3,763,636 ordinary shares and received aggregate
gross proceeds of approximately $22.58 million, before deducting underwriting discounts, commissions and offering expenses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
net proceeds from the offering have been used, and are expected to continue to be used, for the following purposes:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approximately
    $3.1 million for underwriting discounts, commissions and offering expenses;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approximately
    $9.0 million for the cash portion of the Acquisitions; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    remainder for working capital and general corporate purposes.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_035"></span>Item
15. Controls and Procedures.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_052"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Evaluation
of Disclosure Controls and Procedures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company
maintains &#8220;disclosure controls and procedures,&#8221; as such term is defined in Rule 13a-15(e) under the Exchange. As of December
31, 2022, the Company has not completed an evaluation, under the supervision and with the participation of the Company&#8217;s management,
including the Company&#8217;s Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of
the Company&#8217;s disclosure controls and procedures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #222222">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In designing
and evaluating its disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well
conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures
are met. Additionally, in designing disclosure controls and procedures, management necessarily was required to apply its judgment in
evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures
also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #222222">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Chief Executive Officer (CEO) and the Chief
Financial Officer (CFO), believe the effectiveness of our disclosure controls and procedures as of December 31, 2022, were not effective
as a consequence of the material weaknesses described below.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_053"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management&#8217;s
Report on Internal Control over Financial Reporting</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our management is responsible for establishing and maintaining
adequate internal control over financial reporting (as defined in Rule 13a-15(f) and 15d- 15(f) of the Exchange Act). Our management has
not assessed the effectiveness of our internal control over financial reporting as of December 31, 2022. Our management concluded that
our internal control over financial reporting was not effective as of December 31, 2022 as a consequence of the following material weaknesses:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
  <td style="width: 0.5in">&#160;</td>
  <td style="width: 0.25in">&#9679;</td>
  <td style="text-align: justify">lack of sufficient documentation of our existing financial
processes, risk assessment and internal controls activities and evaluation of effectiveness of internal controls;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#9679;</td>
  <td style="text-align: justify">Inadequate internal controls, including inadequate segregation
of duties, over account reconciliations, the preparation and review of the consolidated financial statements and untimely annual closings
of the books;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#9679;</td>
  <td style="text-align: justify">Inadequate internal control over accounting for and financial
reporting related to business combination accounting and subsequent assessment for impairments as they related to goodwill and other long
lived assets;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#9679;</td>
  <td style="text-align: justify">Inadequate information technology general controls as it
relates to user access rights and segregation of duties over systems that are critical to the Company&#8217;s system of financial reporting</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A material weakness is a deficiency, or combination of
deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of
annual or interim consolidated financial statements will not be prevented or detected on a timely basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The effectiveness of any system of internal control over
financial reporting is subject to inherent limitations, including the exercise of judgment in designing, implementing, operating, and
evaluating the controls and procedures, and the inability to eliminate misconduct completely. Accordingly, any system of internal control
over financial reporting can only provide reasonable, not absolute, assurances. In addition, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company continues to strengthen its internal controls
in 2022 and 2023 over financial reporting for the segregation of duties, banks and contract signatory rights, IT access controls and in
late 2022, hired an internal auditor consulting firm to assist with the design and testing of the Company&#8217;s internal controls.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="Z_054"></span>Changes
in Internal Control over Financial Reporting</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no changes in the Company&#8217;s internal control
over financial reporting that occurred during the fiscal year ended December 31, 2022 and that has materially affected, or is reasonably
likely to affect, the Company&#8217;s internal control over financial reporting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_036"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
16. [Reserved]</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_037"></span><b>Item
16A. Audit committee financial expert.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, an &#8220;audit committee financial expert&#8221; is an individual member of the Audit Committee who:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">understands
    generally accepted accounting principles and financial statements,</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">is
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">has
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">understands
    internal controls over financial reporting, and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">understands
    audit committee functions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
    &#8220;audit committee financial expert&#8221; may acquire the foregoing attributes through:</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">education
    and experience as a principal financial officer, principal accounting officer, controller, public accountant, auditor or person serving
    similar functions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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    actively supervising a principal financial officer, principal accounting officer, controller, public accountant, auditor or person
    serving similar functions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">experience
    overseeing or assessing the performance of companies or public accounts with respect to the preparation, auditing or evaluation of
    financial statements; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">other
    relevant experience.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
board of directors has determined that Mr. Richard J. Berman qualifies as an audit committee financial expert and has the accounting
or financial management expertise as required under Item 407(d)(5)(ii) and (iii) of Regulation S-K. All audit committee members satisfy
the independence requirements set forth under the rules of the NYSE American, Upstream and in Rule 10A-3 under the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_038"></span>Item
16B. Code of Ethics.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
Code of Ethics is a written standard designed to deter wrongdoing and to promote:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">honest
    and ethical conduct,</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">full,
    fair, accurate, timely and understandable disclosure in regulatory filings and public statements,</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">compliance
    with applicable laws, rules and regulations,</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    prompt reporting violation of the code to an appropriate person or persons identified in the code and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">accountability
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have adopted a Code of Business Conduct and Ethics that is applicable to all of our employees, and also contains provisions that apply
only to our principal executive officer, principal financial and accounting officers and persons performing similar functions. A copy
of our Code of Business Conduct and Ethics is incorporated by reference as an exhibit to this Annual Report and posted on our website
at https://www.geniusgroup.net/.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_039"></span>Item
16C. Principal Accountant Fees and Services.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table shows the fees that we incurred for audit and other services provided by Marcum LLP, our independent registered
public accounting firm, for fiscal years 2021 and 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fiscal 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fiscal 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Audit Fees</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">652,519</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 16%; text-align: right">721,515</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Audit-Related Fees</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Tax Fees</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">All Other Fees</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,875</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">652,519</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">734,390</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit
Fees &#8212;This category includes the audit of our annual financial statements and services that are normally provided by the independent
auditors in connection with engagements for those fiscal years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit-Related
Fees &#8212; This category consists of assurance and related services by the independent auditors that are reasonably related to the
performance of the audit or review of our financial statements and are not reported above under &#8220;Audit Fees&#8221;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
Fees &#8212; This category consists of professional services rendered by the Company&#8217;s independent registered public accounting
firm for tax compliance and tax advice. The services for the fees disclosed under this category include tax return preparation and technical
tax advice.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
Other Fees &#8212; This category consists of fees for other miscellaneous items.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Audit Committee has adopted a procedure for pre-approval of all fees charged by the Company&#8217;s independent registered public accounting
firm. Under the procedure, the Audit Committee approves the engagement letter with respect to audit, tax and review services. Other fees
are subject to pre-approval by the entire Committee, or, in the period between meetings, by a designated member of the Audit Committee.
Any such approval by the designated member is disclosed to the entire Audit Committee at the next meeting. The audit fees paid to Marcum
LLP with respect to fiscal years 2020 and 2021 were all approved by the Audit Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_040"></span>Item
16D. Exemptions from the Listing Standards for Audit Committees.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_041"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
have been no purchases of equity securities required to be disclosed in response to this Item.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_042"></span>Item
16F. Change in Registrant&#8217;s Certifying Accountant.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_043"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
16G. Corporate Governance.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common shares are listed on the NYSE American and Upstream. For purposes of NYSE American rules, so long as we are a foreign private
issuer, we are eligible to take advantage of certain exemptions from NYSE American corporate governance requirements provided in the
NYSE American rules. We are required to disclose the significant ways in which our corporate governance practices differ from those that
apply to U.S. companies under NYSE American listing standards. Set forth below is a summary of these differences:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board
Committees&#8212;The NYSE American rules require domestic companies to have a compensation committee and a nominating and corporate governance
committee composed entirely of independent directors, but as a foreign private issuer we are exempt from these requirements. We have
a compensation committee comprised of three members, and we believe that all of the committee members satisfy the &#8220;independence&#8221;
requirements of the NYSE rules.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholder
Approval of Equity Plans&#8212;The NYSE rules require shareholder approval of stock option plans and other equity compensation arrangements
available to officers, directors or employees and any material amendments thereto, but as a foreign private issuer we are permitted to
follow home country practice in lieu of those rules. Under home country practice, shareholder approval of stock option plans and other
equity compensation arrangements is not required; however, we are required to seek shareholder approval of the compensation paid to our
directors and issuances of new shares (including those that may need to be issued under any stock option plans or other equity compensation
arrangements). The Company&#8217;s Board of Directors approves the stock option plans and other equity compensation arrangements that
do not require shareholder approval under our home country practice.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_044"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
16H. Mine Safety Disclosure.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_045"></span><b>Item
16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
III</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="Z_046"></span>Item
17. Financial Statements.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have elected to provide financial statements pursuant to Item 18.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_047"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
18. Financial Statements.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
audited Consolidated Financial Statements as required under Item 18 are attached hereto starting on page F-1 of this Form 20-F.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="Z_048"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
19. Exhibits</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following are filed as exhibits hereto:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 0.75in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibit<br />
    Number</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; vertical-align: top; width: 0.1in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description
    of Document</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-1.htm" style="-sec-extract: exhibit">Share Purchase Agreement dated Oct. 22, 2020 among Genius Group Ltd, David Raymond Hitchins and Angela Stead (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-2.htm" style="-sec-extract: exhibit">Share Purchase Agreement dated Nov. 28, 2020 between Genius Group Ltd and Lillian Magdalena Niemann (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-3.htm" style="-sec-extract: exhibit">Share Purchase Agreement dated Nov. 30, 2020 between Genius Group Ltd and Property Mastermind International PTE Ltd. (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-4.htm" style="-sec-extract: exhibit">Stock Purchase Agreement dated Dec. 18, 2020 among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-5.htm" style="-sec-extract: exhibit">Tender Offer Letter dated May 14, 2020 for Genius Group Ltd to acquire Entrepreneur Resorts Limited(1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-6.htm" style="-sec-extract: exhibit">Asset Transfer Agreement dated Oct. 1, 2019 between Genius Group Ltd and GeniusU Ltd (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex2-7.htm" style="-sec-extract: exhibit">Share Purchase Agreement dated Aug. 30, 2019 between Genius Group Ltd and Wealth Dynamics Pte Ltd (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.8</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921128141/tm219610d9_ex2-8.htm" style="-sec-extract: exhibit">Extending Letter dated September 30, 2021 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (3)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.9</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921128141/tm219610d9_ex2-9.htm" style="-sec-extract: exhibit">Extending Letter dated September 30, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (3)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.10</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921128141/tm219610d9_ex2-10.htm" style="-sec-extract: exhibit">Extending Letter dated September 30, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (3)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.11</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921128141/tm219610d9_ex2-11.htm" style="-sec-extract: exhibit">Extending Letter dated September 30, 2021 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (3)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.12</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921154600/tm219610d15_ex2-12.htm" style="-sec-extract: exhibit">Extending Letter dated December 17, 2021 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.13</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921154600/tm219610d15_ex2-13.htm" style="-sec-extract: exhibit">Extending Letter dated December 17, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921154600/tm219610d15_ex2-14.htm" style="-sec-extract: exhibit">Extending Letter dated December 17, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.15</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921154600/tm219610d15_ex2-15.htm" style="-sec-extract: exhibit">Extending Letter dated December 21, 2021 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.16</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922007442/tm219610d18_ex2-16.htm" style="-sec-extract: exhibit">Extending Letter dated January 23, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.17</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922027403/tm219610d24_ex2-17.htm" style="-sec-extract: exhibit">Extending Letter dated February 25, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (5)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.18</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922037685/tm219610d36_ex2-18.htm" style="-sec-extract: exhibit">Amendment Letter dated March 24, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (5)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.19</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922037685/tm219610d36_ex2-19.htm" style="-sec-extract: exhibit">Extending Letter dated March 24, 2022 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (5)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.20</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922037685/tm219610d36_ex2-20.htm" style="-sec-extract: exhibit">Extending Letter dated March 24, 2022 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (5)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.21</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922037685/tm219610d36_ex2-21.htm" style="-sec-extract: exhibit">Extending Letter dated March 24, 2022 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (5)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex3-1.htm" style="-sec-extract: exhibit">Constitution of the Registrant (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex4-1.htm" style="-sec-extract: exhibit">Registrant&#8217;s Specimen Certificate for Ordinary Shares (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-1.htm" style="-sec-extract: exhibit">Tenancy Agreement dated June 27, 2019 between China Classic Pte Ltd and Entrepreneur Resorts Pte Ltd (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-2.htm" style="-sec-extract: exhibit">Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Roger James Hamilton (1)</a></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-3.htm" style="-sec-extract: exhibit">Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Michelle Clarke (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-4.htm" style="-sec-extract: exhibit">Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Suraj Naik (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-5.htm" style="-sec-extract: exhibit">Employment of Director Agreement dated June 15, 20202 between Genius Group Ltd and Sandra Morrell (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-6.htm" style="-sec-extract: exhibit">Employment Agreement dated June 15, 2020 between Genius Group Ltd and Jeremy Harris (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-7.htm" style="-sec-extract: exhibit">Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Patrick Grove (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-8.htm" style="-sec-extract: exhibit">Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Anna Gong (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-9.htm" style="-sec-extract: exhibit">Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Nic Lim Kah Wui (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-10.htm" style="-sec-extract: exhibit">Facility Letter dated Sept. 12, 2019 between Wealth Dynamics Pte Ltd and United Overseas Bank Limited (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-11.htm" style="-sec-extract: exhibit">Employee Share Option Scheme Rules (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-12.htm" style="-sec-extract: exhibit">Service Level Agreement with Salesforce (Includes attachments) (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-13.htm" style="-sec-extract: exhibit">Matla Game Lodge Lease (Including Change of Name) (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-14.htm" style="-sec-extract: exhibit">Tau Game Lodge Lease Agreement &#8212; Office (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.15</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex10-15.htm" style="-sec-extract: exhibit">Tau Game Lodge Lease Agreement &#8212; Lodge (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.16</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921128141/tm219610d9_ex10-16.htm" style="-sec-extract: exhibit">Novation Tenancy Agreement dated January 23, 2020 between China Classic Pte Ltd and Genius Central Singapore Pte Ltd. (4)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.17</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465922007442/tm219610d18_ex10-17.htm" style="-sec-extract: exhibit">Board of Directors Services Agreement dated Jan. 1, 2021 between Genius Group Ltd and Richard J. Berman (2)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.1
    *</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex12-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of the Chief Executive Officer of Genius Group pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    *</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex12-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of the Chief Financial Officer of Genius Group pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.1
    **</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex13-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of the Chief Executive Officer Genius Group pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.2
    **</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex13-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of the Chief Financial Officer of Genius Group pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex14-1.htm" style="-sec-extract: exhibit">Code of Ethics (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1847806/000110465921111136/tm219610d6_ex21-1.htm" style="-sec-extract: exhibit">List of Subsidiaries (1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">21.1(a)</td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex21-1a.htm">Consent of Lightheart, Sanders and Associates</a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">21.1(b)</td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><a href="ex21-1b.htm">Revealed Films Audited Financial Statements for the Period Ended September 30, 2022</a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    INS*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Instance Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    SCH*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Extension Schema Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    CAL*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Extension Calculation Linkbase Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    DEF*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Extension Definition Linkbase Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    LAB*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Extension Label Linkbase Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.
    PRE*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline
    XBRL Taxonomy Extension Presentation Linkbase Document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover
    Page Interactive Data File (embedded within the Inline XBRL document)</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to
    our Amendment No. 1 to Registration Statement on Form F-1/A, filed on August 30, 2021.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to
    our Amendment No. 5 to Registration Statement on Form F-1/A, filed on January 25, 2022.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to
    our Amendment No. 3 to Registration Statement on Form F-1/A, filed on November 23, 2021.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to
    our Amendment No. 2 to Registration Statement on Form F-1/A, filed on October 20, 2021.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to
    our Amendment No. 9 to Registration Statement on Form F-1/A, filed on March 24, 2022.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith.</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furnished herewith.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURE</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
registrant hereby certifies that is meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this Annual Report on its behalf.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
    GROUP</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 47%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    Roger Hamilton</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roger
    Hamilton</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
June 06, 2023</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
Group Limited and Subsidiaries </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated
Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INDEX</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Audited
    Consolidated Financial Statements</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_001">Directors&#8217;
    Responsibilities and Approval.</a> </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_002">Report
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_003">Consolidated
    Statements of Financial Position as of December 31, 2022 and 2021</a> </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_004">Consolidated
    Statements of Operations and Comprehensive Loss for the years ended December 31, 2022 and 2021</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_005">Consolidated
    Statements of Changes in Stockholders&#8217; Equity for the years ended December 31, 2022 and 2021</a> </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
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    Statements of Cash Flows for the years ended December 31, 2022 and 2021</a> </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#loa_007">Notes
    to Consolidated Financial Statements</a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-8</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Genius
Group Limited and Subsidiaries</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_001"></span>Directors&#8217;
Statement</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the financial year ended December 31, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
directors are required in terms of the International Business Companies Act of 2016 to maintain adequate accounting records and are responsible
for the content and integrity of the consolidated financial statements and related financial information included in this report. It
is their responsibility to ensure that the consolidated financial statements fairly present the state of affairs of the Group at the
end of the financial year and the results of its operations and cash flows for the period then ended, in conformity with International
Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and IFRS Interpretations committee
(IFRIC). The external auditors are engaged to express an independent opinion on the consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the
International Accounting Standards Board (IASB) and IFRS Interpretations committee (IFRIC) and are based upon appropriate accounting
policies consistently applied and supported by reasonable and prudent judgements and estimates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
directors acknowledge that they are ultimately responsible for the system of internal financial control established by the Group and
place considerable importance on maintaining a strong control environment. To enable the directors to meet these responsibilities, the
board of directors sets standards for internal control aimed at reducing the risk of error or loss in a cost-effective manner. The standards
include the proper delegation of responsibilities within a clearly defined framework, effective accounting procedures and adequate segregation
of duties to ensure an acceptable level of risk. These controls are monitored throughout the Group and all employees are required to
maintain the highest ethical standards in ensuring the Group&#8217;s business is conducted in a manner that in all reasonable circumstances
is above reproach. The focus of risk management in the Group is on identifying, assessing, managing, and monitoring all known forms of
risk across the Group. While operating risk cannot be fully eliminated, the Group endeavors to minimize it by ensuring that appropriate
infrastructure, controls, systems, and ethical behavior are applied and managed within predetermined procedures and constraints.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The directors are of the opinion, based on the information and explanations
given by management, that the system of internal controls does not provide reasonable assurance that the financial records may be relied
on for the preparation of the consolidated financial statements. However, any system of internal financial control can provide only reasonable,
and not absolute, assurance against material misstatement or loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
directors have reviewed the Group&#8217;s cash flow forecast for the year to December 31, 2022, and, in light of this review and the
current financial position, there is substantial doubt about its ability to continue as a going concern within one year after the date
that the consolidated financial statements are issued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
external auditors are responsible for independently auditing and reporting on the Group&#8217;s consolidated financial statements. The
consolidated financial statements have been examined by the Group&#8217;s external auditors and their report is presented on page F-3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements set out beginning on page F-4, which have been prepared on the going concern basis, were approved by
the board of directors on June 06,2023 and were signed by:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    Roger James Hamilton</i></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Roger
    James Hamilton, Director</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Suraj
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><img src="audit_001.jpg" alt="" /></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="loa_002"></span><span style="text-transform: uppercase">Report
of Independent Registered Public Accounting Firm</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the Shareholders and Board of Directors of</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Limited and Subsidiaries</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opinion
on the Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">We have audited the accompanying consolidated statements
of financial position of Genius Group Limited and Subsidiaries (the &#8220;Company&#8221;) as of December 31, 2022 and 2021, the related
consolidated statements of operations and comprehensive loss, stockholders&#8217; equity and cash flows for each of the two years in the
period ended December 31, 2022, and the related notes (collectively referred to as the &#8220;financial statements&#8221;). In our opinion,
the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021,
and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2022, in conformity with
International Financial Reporting Standards as issued by the International Accounting Standards Board.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><b>Explanatory Paragraph &#8211; Going Concern</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 2, the Company has incurred
significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial
doubt about the Company&#8217;s ability to continue as a going concern. Management&#8217;s plans in regard to these matters are also described
in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><b>Restatement of Previously Issued Financial Statements</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">As discussed in Note 2 to the financial statements,
the accompanying 2021 financial statements have been restated to correct a misstatement. Our opinion is not modified with respect to this
matter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Basis for Opinion</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">These financial statements are the responsibility
of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal
control over financial reporting. Accordingly, we express no such opinion.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt">Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 19.95pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="audit_002.jpg" alt="" /></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span id="xdx_90D_edei--AuditorName_c20220101__20221231_z0SxrGmgs3G5"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" name="dei:AuditorName">Marcum LLP</ix:nonNumeric></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    have served as the Company&#8217;s auditor since 2020.</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 5, 2023</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img src="audit_003.jpg" alt="" /><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
GROUP LIMITED AND SUBSIDIARIES</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_003"></span>CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Expressed
in US Dollars)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30B_111_zEUVM8DzGxH8" summary="xdx: Statement - Consolidated Statements of Financial Position" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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  <tr id="xdx_40D_eifrs-full--CurrentTradeReceivables_i02I_maCAzeIQ_zJpxG4JM2frl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">44,245</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_403_eifrs-full--Inventories_i02I_maCAzeIQ_zV16Ox3W4em8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_407_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_i02I_maCAzeIQ_zjiT4WGQ7Sw9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,490,446</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eifrs-full--CurrentAssets_i02TI_mtCAzeIQ_maAzNSD_zUjlFiGxavY7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentAssets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,250,447</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,496,162</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--PropertyPlantAndEquipment_i01I_maAzNSD_zImownSNkoP4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">563,131</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,776,116</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_eifrs-full--RightofuseAssets_i01I_maAzNSD_z5emshvLB3Rf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    lease right-of-use asset</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:RightofuseAssets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,573,710</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:RightofuseAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,077,241</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40F_eifrs-full--CurrentInvestments_i01I_maAzNSD_zosLfh8a9Fna" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
    at fair value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentInvestments" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,071</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentInvestments" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,069</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eifrs-full--Goodwill_i01I_maAzNSD_zLzEiwItoyKl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">31,688,887</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,320,100</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40D_eifrs-full--IntangibleAssetsOtherThanGoodwill_i01I_maAzNSD_zrpfRlvukfjh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IntangibleAssetsOtherThanGoodwill" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,107,293</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IntangibleAssetsOtherThanGoodwill" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,394,969</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eifrs-full--OtherNoncurrentReceivables_i01I_maAzNSD_zLmPx4WFGczb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0101">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40C_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_i01I_maAzNSD_zcNJET8BhCvg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
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  <tr id="xdx_40B_eifrs-full--OtherNoncurrentAssets_i01I_maAzNSD_zpH69zOns4Ii" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_404_eifrs-full--Assets_i01TI_mtAzNSD_zxgEQkBIdxqb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--EquityAndLiabilitiesAbstract_iB_zi5quuUcUcri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LIABILITIES
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_402_eifrs-full--CurrentLiabilitiesAbstract_i01B_zroUZ4nAyfX3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40B_eifrs-full--TradeAndOtherCurrentPayablesToTradeSuppliers_i02I_maCLzO7m_zszLDdY2gCr4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eifrs-full--CurrentAccruedExpensesAndOtherCurrentLiabilities_i02I_maCLzO7m_zhMHJz3luhXi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40F_eifrs-full--CurrentContractLiabilities_i02I_maCLzO7m_zGeSjB0p3FJi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_403_eifrs-full--TradeAndOtherPayablesToRelatedParties_i02I_maCLzO7m_zk4fnVQSUMA3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40B_eifrs-full--CurrentLeaseLiabilities_i02I_maCLzO7m_zzU3h04v4nje" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentLeaseLiabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">436,271</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40A_ecustom--LoansPayablesCurrent_i02I_maCLzO7m_z1t6vtYVzRL5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:LoansPayablesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">65,415</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_407_ecustom--ConvertibleDebtObligationsCurrent_i02I_maCLzO7m_zHLWsOqOsyK4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
    debt obligations - current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleDebtObligationsCurrent" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,752,328</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleDebtObligationsCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">507,765</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--ShorttermBorrowings_i02I_maCLzO7m_zqWbeRA6IFV8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short
    term debt</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ShorttermBorrowings" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,245</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0143">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--CurrentLiabilities_i02TI_mtCLzO7m_maLz0NY_zDHoHV0IPPQe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Current Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentLiabilities" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,377,454</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentLiabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,139,597</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40F_eifrs-full--NoncurrentPayablesToRelatedParties_i01I_maLz0NY_zSK4GODcYH45" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
    to related parties</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentPayablesToRelatedParties" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,729</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0149">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--NoncurrentLeaseLiabilities_i01I_maLz0NY_zNaAnUiWeTah" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
    lease liabilities &#8211; non-current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">10</td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentLeaseLiabilities" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,394,337</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentLeaseLiabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">894,589</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_404_eifrs-full--LongtermBorrowings_i01I_maLz0NY_zWeov5FQPUb1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
    payable &#8211; non-current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:LongtermBorrowings" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">428,025</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:LongtermBorrowings" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">85,858</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_404_ecustom--ConvertibleDebtObligationsNoncurrent_i01I_maLz0NY_zjpPY2ejE3w8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleDebtObligationsNoncurrent" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,223,523</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleDebtObligationsNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">766,245</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_eifrs-full--DeferredTaxLiabilities_i01I_maLz0NY_zLdI6AnncUG8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
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  <tr id="xdx_40D_eifrs-full--CurrentDerivativeFinancialLiabilities_i01I_maLz0NY_zImUZx0UPN7f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_401_eifrs-full--Liabilities_i01TI_mtLz0NY_maEALzjkE_zmBscuatYoy8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_403_eifrs-full--EquityAbstract_i01B_zOyUTXMJO5df" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders&#8217;
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--IssuedCapital_i02I_maEATOOzT7i_zF3J8VWMUc4b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contributed
    capital</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IssuedCapital" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">50,924,276</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_ecustom--StockholdersEquityNoteSubscriptionReceivable_i02I_maEATOOzT7i_zjtUzXTNYgW" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subscriptions
    receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:StockholdersEquityNoteSubscriptionReceivable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,900,857</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_405_ecustom--Reserves_i02I_maEATOOzT7i_zpfT76MPkZPh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reserves</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:Reserves" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">32,933,714</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:Reserves" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">31,888,638</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_402_eifrs-full--RetainedEarnings_i02I_maEATOOzT7i_zIEoUhXefVk2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    deficit</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:RetainedEarnings" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">68,539,210</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:RetainedEarnings" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">13,493,684</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_408_eifrs-full--EquityAttributableToOwnersOfParent_i02TI_mtEATOOzT7i_maEzBOq_zOoYhZmuaJZ" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capital
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><ix:nonFraction name="ifrs-full:EquityAttributableToOwnersOfParent" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,160,219</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:EquityAttributableToOwnersOfParent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,641,097</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_eifrs-full--NoncontrollingInterests_i03I_maEzBOq_z0x3yh76jh0f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-controlling
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncontrollingInterests" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,794,617</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_409_eifrs-full--Equity_i03TI_mtEzBOq_maEALzjkE_z0b9xtUIccXc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:EquityAndLiabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,595,407</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 29.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
GROUP LIMITED AND SUBSIDIARIES</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_004"></span>CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in US Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_301_113_zRwO08TwK8bh" summary="xdx: Statement - Consolidated Statements of Operations and Comprehensive Loss" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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                                                                                                       <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40A_eifrs-full--CostOfSales_iN_di_msGPzJEf_zSpYUrilvKrf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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  <tr id="xdx_408_eifrs-full--DepreciationAndAmortisationExpense_i01N_di_maOEzkGi_zqQKROYKcUye" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40B_eifrs-full--MiscellaneousOtherOperatingIncome_i01_msOEzkGi_zU2BjKIBFGVj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_eifrs-full--ImpairmentLoss_i01N_di_maOEzkGi_zSQbUfk0g7O8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eifrs-full--GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_i01_msOEzkGi_ztOE3olAIopf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_eifrs-full--OperatingExpense_i01NT_di_msPLFOAz3sB_mtOEzkGi_z8CRN1cNKeBf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40A_eifrs-full--ProfitLossFromOperatingActivities_iT_mtPLFOAz3sB_zXnN7P0QKMc7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_409_eifrs-full--OtherIncome_i01_maNOIEz6lY_zFemVXRTk9W3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_403_ecustom--RevaluationAdjustmentOfContingentLiabilities_i01_maNOIEz6lY_zWkDQUcKciya" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40C_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations_i01_maCIzqFr_ziO6pxjt2c52" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_409_eifrs-full--ComprehensiveIncome_i01T_mtCIzqFr_zhqzb0E0Xyle" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_402_eifrs-full--ProfitLossAttributableToAbstract_iB_zfNQ5etl5iG" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_400_eifrs-full--ProfitLossAttributableToOwnersOfParent_i01_maPLzDGJ_zPbC2W38JdO3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Owners </span>of
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-controlling
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td id="xdx_F0D_z7V91oGtIORi" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)&#160;</span></td><td style="text-align: justify"><span id="xdx_F1A_zEmJZ3Yg7re5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:footnote id="Footnote000294" xml:lang="en-US">Restatement details
in Note 2 </ix:footnote></span></td>
</tr></table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
GROUP LIMITED AND SUBSIDIARIES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_005"></span><b>CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS&#8217; EQUITY</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>AS
OF DECEMBER 31, 2022 AND 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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  <tr id="xdx_408_eifrs-full--IssueOfEquity_zQAjRPh0P4k6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_402_ecustom--IncreaseDecreaseThroughSharesIssuedInSatisfactionOfLiabilityNet_znudbGJHxiFj" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0342">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_406_eifrs-full--IncreaseDecreaseThroughConversionOfConvertibleInstruments_zbdMEJRmYEjl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0347">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0349">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_401_ecustom--IncreaseDecreaseThroughFundsReceivedForSharesToBeIssued_zhjMgLt9Zoak" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Funds received for shares to be issued</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0359">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0360">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_403_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_zKNKIQJbtp65" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Share based compensation</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0365">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0366">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0367">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0368">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0369">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_401_ecustom--IncreaseDecreaseThroughNonControllingInterest_zRbDC5nVLsSk" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Non-controlling interest</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0376">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:IncreaseDecreaseThroughNonControllingInterest" contextRef="From2021-01-012021-12-31_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,597</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0378">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:IncreaseDecreaseThroughNonControllingInterest" contextRef="From2021-01-012021-12-31_ifrs-full_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">163,362</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0380">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_438_c20220101__20221231_eifrs-full--Equity_iS_zLIu4hvvx9Oc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 2.5pt">Balance, December 31, 2021</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_98C_eifrs-full--NumberOfSharesOutstanding_iS_pid_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zgT6cbQlGnUe" title="Balance, shares" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:NumberOfSharesOutstanding" contextRef="AsOf2021-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">16,155,812</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_NoncontrollingInterestsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,344,899</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,028,729</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(<ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">13,493,684</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,985,996</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_438_c20220101__20221231_eifrs-full--Equity_iS_zEMwntGkh0Db" style="display: none; vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt">Balance</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_981_eifrs-full--NumberOfSharesOutstanding_iS_pid_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zM0JFG0y1R2h" title="Balance, shares" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:NumberOfSharesOutstanding" contextRef="AsOf2021-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">16,155,812</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">50,924,276</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_NoncontrollingInterestsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,344,899</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(<ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_custom_SubscriptionsReceivableMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,900,857</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,028,729</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(<ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31_ifrs-full_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">13,493,684</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="ifrs-full:Equity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,985,996</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
<tr id="xdx_40B_eifrs-full--ProfitLoss_zNQlEJSJPsUf" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0404">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0405">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0406">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_40E_eifrs-full--OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations_zC29NYMeFQA5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0410">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0411">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0412">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations" contextRef="From2022-01-012022-12-31_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,045,076</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0414">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0415">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_403_ecustom--ProceedsFromInitialPublicOfferingNet_zYvQrBQHxGG7" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from IPO (net)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0419">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0420">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0421">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0422">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0423">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_403_ecustom--ShareOptionsInitialPublicOffering_zmq85DIqu1w5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Share options GG IPO April 2022</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0429">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0430">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0431">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0432">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0433">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:ShareOptionsInitialPublicOffering" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">270,476</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_eifrs-full--IssueOfEquity_zgxHkuZ5PzXe" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><p style="margin: 0">GeniusU Shares issued for cash</p></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0438">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0440">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0441">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0442">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0443">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_407_eifrs-full--IncreaseDecreaseThroughConversionOfConvertibleInstruments_zzR0IlNu1X8c" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Shares issued for conversion of convertible notes</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughConversionOfConvertibleInstruments" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,829,607</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0447">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0448">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0449">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0450">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0451">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughConversionOfConvertibleInstruments" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,829,607</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eifrs-full--IncreaseDecreaseThroughAcquisitionOfSubsidiary_zo2prVjWPj9j" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Shares issued for IPO acquisition</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98E_ecustom--IncreaseDecreaseThroughAcquisitionOfSubsidiaryShares_pid_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_zMD62PX2ORp2" title="Shares issued for IPO acquisition, shares" style="text-align: right"><ix:nonFraction name="GNS:IncreaseDecreaseThroughAcquisitionOfSubsidiaryShares" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,975,407</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">35,098,001</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0457">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0458">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0459">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0460">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0461">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">35,098,001</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_400_ecustom--SharesCancelledInSatisfactionOfLiabilityNetOfDerivativeLiability_zPogHoOxPUad" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Shares cancelled in satisfaction of liability, net of derivative liability</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_989_ecustom--SharesCancelledInSatisfactionOfLiabilityNetOfDerivativeLiabilityShares_pid_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_z2jA0FG1lRz4" title="Shares cancelled in satisfaction of liability, net of derivative liability, shares" style="text-align: right">(<ix:nonFraction name="GNS:SharesCancelledInSatisfactionOfLiabilityNetOfDerivativeLiabilityShares" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="Shares">49,002</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="GNS:SharesCancelledInSatisfactionOfLiabilityNetOfDerivativeLiability" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">100,002</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0467">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0468">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0469">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0470">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0471">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="GNS:SharesCancelledInSatisfactionOfLiabilityNetOfDerivativeLiability" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">100,002</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_406_eifrs-full--IncreaseDecreaseThroughSharebasedPaymentTransactions_z8YQefy7hZ68" style="vertical-align: bottom; background-color: White">
    <td>Share based compensation</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98C_ecustom--IncreaseDecreaseThroughSharebasedPaymentTransactionsShares_pid_c20220101__20221231__ifrs-full--ComponentsOfEquityAxis__ifrs-full--IssuedCapitalMember_z8t1fJEVFn98" title="Share based compensation, shares" style="text-align: right"><ix:nonFraction name="GNS:IncreaseDecreaseThroughSharebasedPaymentTransactionsShares" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">109,923</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions" contextRef="From2022-01-012022-12-31_ifrs-full_IssuedCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,308,784</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0477">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0478">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0479">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0480">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0481">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,308,784</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_436_c20220101__20221231_eifrs-full--Equity_iE_zCLAUowOaBLl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these consolidated financial statements.</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
GROUP LIMITED AND SUBSIDIARIES</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_006"></span>CONSOLIDATED
STATEMENTS OF CASH FLOWS</span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Expressed
in US Dollars)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  <tr id="xdx_403_eifrs-full--AdjustmentsForIncreaseDecreaseInContractLiabilities_i03_pp0p0_maAFRPLzqHU_zNTuJWuiwB2f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_403_ecustom--IncreaseDecreaseInCurrentTaxProvision_i03N_pp0p0_di_msAFRPLzqHU_zrBLfnMdzti3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_403_eifrs-full--AdjustmentsForReconcileProfitLoss_i03T_pp0p0_mtAFRPLzqHU_maAFRPLzwE1_zTMFKoMWFP2f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_405_eifrs-full--CashFlowsFromUsedInOperatingActivities_i01T_pp0p0_mtAFRPLzwE1_maIDICAz5GM_zDTd1yd1AMae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
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  <tr id="xdx_403_ecustom--AcquisitionsClassifiedAsInvestingActivities_i01N_pp0p0_di_msCFFUIzFg8_zDwjM8NKEJfk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_400_eifrs-full--PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_i01N_pp0p0_di_msCFFUIzFg8_z3xNrRIkdoN9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eifrs-full--PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_i01N_pp0p0_di_msCFFUIzFg8_zppoRzUZI0V8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_eifrs-full--CashFlowsFromUsedInInvestingActivities_i01T_pp0p0_mtCFFUIzFg8_maIDICAz5GM_z1N6rlp6H4sf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
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  <tr id="xdx_40E_eifrs-full--CashFlowsFromUsedInFinancingActivitiesAbstract_iB" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
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  <tr id="xdx_407_ecustom--CashAdvancesRepaymentsFromRelatedParties_i01N_pp0p0_di_msCFFUIzC4v_z6jH2zv1uPZ2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount
    due to/from related party, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:CashAdvancesRepaymentsFromRelatedParties" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">154,345</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_402_ecustom--ProceedsFromDerivativeLiability_i01_pp0p0_maCFFUIzC4v_zc5DXMfvkbX3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    from derivative liability, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:ProceedsFromDerivativeLiability" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">250,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0606">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40C_ecustom--AdvanceReceivedForShareIssuances_i01_pp0p0_maCFFUIzC4v_zv0t8Okswvq" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AdvanceReceivedForShareIssuances" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">953,087</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_400_eifrs-full--ProceedsFromIssuingShares_i01_pp0p0_maCFFUIzC4v_zgFebNYcivSa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    from IPO, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ProceedsFromIssuingShares" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,308,453</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0612">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_ecustom--ProceedsFromConvertibleDebtNetOfIssuanceCosts_i01_pp0p0_maCFFUIzC4v_zi5jCCbGf264" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    from convertible debt, net of issuance costs</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ProceedsFromConvertibleDebtNetOfIssuanceCosts" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,184,964</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0615">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--ProceedsFromIssueOfOrdinaryShares_i01_pp0p0_maCFFUIzC4v_zcKPXqvPt0A3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    from equity issuances</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ProceedsFromIssueOfOrdinaryShares" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,701,215</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ProceedsFromIssueOfOrdinaryShares" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,127,442</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--RepaymentsOfBondsNotesAndDebentures_i01N_pp0p0_di_msCFFUIzC4v_zFb8Am2wBHx2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40C_eifrs-full--CashFlowsFromUsedInFinancingActivities_i01T_pp0p0_mtCFFUIzC4v_maIDICAz5GM_zRQQYz13ZcU9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_400_eifrs-full--IncreaseDecreaseInCashAndCashEquivalents_iT_pp0p0_mtIDICAz5GM_ztZZA2vI5V6b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
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  <tr id="xdx_407_eifrs-full--CashAndCashEquivalents_iE_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CASH
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    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental
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  <tr id="xdx_406_ecustom--CashPaidForInterest_i01_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
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  <tr id="xdx_400_ecustom--NonCashInvestingAndFinancingActivitiesAbstract_iB" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these consolidated financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GENIUS
GROUP LIMITED AND SUBSIDIARIES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="loa_007"></span>Notes
to Consolidated Financial Statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:BusinessOrganizationAndNatureOfOperationsTextBlock"><p id="xdx_80E_ecustom--BusinessOrganizationAndNatureOfOperationsTextBlock_zM5UWV9gZvcc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
1 &#8212; <span id="xdx_823_zVGPtdo0oANj">BUSINESS ORGANIZATION AND NATURE OF OPERATIONS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genius
Group Ltd. (&#8220;Company&#8221;) is an entrepreneur Edtech and education group, with a mission to disrupt the current education model
with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to
succeed in today&#8217;s market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company operates through its main subsidiaries, GeniusU Ltd (&#8220;GU&#8221;), , Entrepreneur Resorts (&#8220;ERL&#8221;), Education
Angels (&#8220;EA&#8221;), University of Antelope Valley (&#8220;UAV&#8221;), E-Squared Education (&#8220;ESQ&#8221;), Property and Mastermind
Networks Limited (&#8220;PIN&#8221;) and Revealed Films (&#8220;RF&#8221;). The Company owns <span id="xdx_902_eifrs-full--ProportionOfOwnershipInterestInSubsidiary_pid_dp_c20220101__20221231_zVyByOI7UJo8" title="Ownership percentage"><ix:nonFraction name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction>%</span> ownership all of the subsidiaries except <span id="xdx_90F_eifrs-full--ProportionOfOwnershipInterestInSubsidiary_pid_dp_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--GeniusULtdMember_zHvoNO1qq9Yd" title="Ownership percentage"><ix:nonFraction name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" contextRef="From2022-01-012022-12-31_custom_GeniusULtdMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">96.5</ix:nonFraction>%</span> in GeniusU Ltd and <span id="xdx_903_eifrs-full--ProportionOfOwnershipInterestInSubsidiary_pid_dp_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--EntrepreneurResortsMember_zjzazVKyHXoj" title="Ownership percentage"><ix:nonFraction name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" contextRef="From2022-01-012022-12-31_custom_EntrepreneurResortsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">95.4</ix:nonFraction>%</span> in Entrepreneur Resorts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GU,
a Singapore company, which provides a full entrepreneur education system business development tools and management consultancy services
to entrepreneurs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ERL
was incorporated in Seychelles, and represents a group of resorts, retreats, and co-working cafes for entrepreneurs. ERL owns resorts
in Bali and South Africa which run entrepreneur retreats and workshops. It also owns Genius Caf&#233;, an entrepreneur beach club in
Bali, and Genius Central Singapore Pte Ltd, an entrepreneur co-working hub in Singapore.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EA
generates revenue from parents of young children from 0-5 years old paying for an EA trained educator to both educate and care for their
child. EA is required to be approved and in compliance by the New Zealand Ministry of Education (&#8220;MOE&#8221;) in order to operate
and receive government funding. EA is approved by the MOE and 50% of EA educator fees are paid by the New Zealand Government.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV
is an accredited university based on a 10-acre campus in the United States. It offers career-focused on-campus and online programs at
the master&#8217;s, bachelor&#8217;s, and associate degree level, as well as certificate and continuing education programs in several
high-demand sectors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ESQ
is an entrepreneur education campus in South Africa, providing a full range of programs from pre-primary through primary school, secondary
school, and vocational college.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PIN
is a United Kingdom private limited company. PIN provides investment education through its fifty city chapters and monthly events in
England, held both virtually and in-person.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RF
is a United States based media production company that specializes in multi-part documentaries that cover topics such as wealth building,
health and nutrition, medical issues, religion, and political matters.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
three regions the Company operates in are: APAC (Asia Pacific, North Asia, and Australia); EMEA (Europe, Middle East, and Africa); and
NASA (North America and South America). </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
January 2020, the World Health Organization declared the COVID 19 virus an international pandemic. The imposed &#8216;lock down&#8217;
and associated social distancing measures have had a significant effect on economic activity and have hurt in particular businesses in
the travel, entertainment, and leisure sectors. To cater to this unprecedented pandemic scenario, governments across the globe have enacted
many emergency funding and support schemes in order to alleviate the hopefully short-term liquidity difficulties encountered by businesses
and individuals. Such measures include corporate guarantee and liquidity measures, deferral of state taxes and/or suspension for debt
obligations, measures to allow businesses to implement forbearance and furlough measures while the employees receive reasonable proportion
of salaries and benefits. The Company has been able to avail itself of such measures as available to it which has been of assistance
to survive the financial impact of the pandemic.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2021, the Group received COVID related government subsidies amounting to $<span id="xdx_90B_eifrs-full--RevenueFromGovernmentGrants_c20210101__20211231_zGMDh0abkKra" title="Income from government grants"><ix:nonFraction name="ifrs-full:RevenueFromGovernmentGrants" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">490,300</ix:nonFraction></span>
reported under other operating income (Note 24).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 151; Value: 1 -->
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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"><p id="xdx_801_eifrs-full--DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_zGzXuFInRYo5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
2 &#8212; <span id="xdx_825_zAz0AKI8U2Ua">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory"><p id="xdx_841_eifrs-full--DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory_z95txIn5SBvj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zQcIzUL6gPH3">Basis
of Presentation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements have been prepared on the going concern basis in accordance with, and in compliance with, International
Financial Reporting Standards (&#8220;IFRS&#8221;), as issued by the International Accounting Standards Board (&#8220;IASB&#8221;), and
International Financial Reporting Interpretations Committee (&#8220;IFRIC&#8221;) interpretations issued and effective at the time of
preparing these consolidated financial statements and the International Business Companies Act of 2016.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes
that funds will be available to finance future operations that the realization of assets and settlement of liabilities, contingent obligations
and commitments will occur in the ordinary course of business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements have been prepared on the historical cost convention, unless otherwise stated in the accounting policies
which follow and incorporate the principal accounting policies set out below. The presentation currency is United States dollars.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfGoingConcernExplanatory"><p id="xdx_840_eifrs-full--DisclosureOfGoingConcernExplanatory_zKz2nRX7jcBi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b><span id="xdx_861_zzjewlmxgYz6">Going Concern</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Pursuant to IAS 1, Presentation of Financial
Statements, the Company is required to and does evaluate at each annual and interim period whether there are conditions or events, considered
in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the
consolidated financial statements are issued. Based on the definitions in the relevant accounting standards, and due
to recent changes in the Company&#8217;s 2022 convertible loan terms in which company elected to pay all future payments in cash, negative
cash flows, and continued net losses, management has determined that without additional capital raised, in the next twelve months, there
is substantial doubt about the Company&#8217;s ability to continue as a going concern</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company&#8217;s consolidated financial
statements as of December 31, 2022 have been prepared on a going concern basis. Although the Company has taken, and plans to continue
to take, proactive measures to enhance its liquidity position and provide additional financial flexibility, including discussions with
lenders and bankers, there can be no assurance that these measures, including the timing and terms thereof, will be successful or sufficient.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfBasisOfConsolidationExplanatory"><p id="xdx_84C_eifrs-full--DisclosureOfBasisOfConsolidationExplanatory_z5C6GD39koAl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zYguBEo0WRab">Principles
of Consolidation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements incorporate the financial statements of the Company and all its subsidiaries. Subsidiaries are entities
(including structured entities) which are controlled by the Company. The Company has control of an entity when it is exposed to or has
rights to variable returns from involvement with the entity and it has the ability to affect those returns through the of use its power
over the entity. The results of subsidiaries are included in the consolidated financial statements from the effective date of acquisition
to the effective date of disposal. Adjustments are made when necessary to the financial statements of subsidiaries to bring their accounting
policies in line with those of the Company. All inter-company transactions, balances, and unrealized gains on transactions between consolidated
companies are eliminated in full upon consolidation. Unrealized losses on transactions between consolidated companies are also eliminated
upon consolidation unless the transaction provides evidence of an impairment of the asset transferred.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory"><p id="xdx_842_eifrs-full--DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory_zOecepNoQPGl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_za60Y4AlyEt3">Business
Combinations</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for business combinations using the acquisition method of accounting in accordance with IFRS. The cost of the business
combination is measured as the aggregate of the fair values of assets given, liabilities incurred or assumed, and equity instruments
issued. Costs directly attributable to the business combination are expensed as incurred, except the costs to issue debt which are amortized
as part of the effective interest, and costs to issue equity which are included in stockholders&#8217; equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
contingent consideration is included in the cost of the business combination at fair value as at the date of acquisition. Subsequent
changes to the assets, liability or equity which arise as a result of the contingent consideration are not affected against goodwill,
unless they are valid measurement period adjustments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Otherwise,
all subsequent changes to the fair value of contingent consideration that is deemed to be an asset or liability is recognized in either
profit or loss or in other comprehensive income, in accordance with relevant IFRS. Contingent consideration that is classified as equity
is not remeasured, and its subsequent settlement is accounted for within stockholders&#8217; equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
acquiree&#8217;s identifiable assets, liabilities and contingent liabilities which meet the recognition conditions of IFRS 3 &#8212;
Business Combinations (&#8220;IFRS 3&#8221;) are recognized at their fair values at acquisition date, except for non-current assets (or
disposal groups) that are classified as held for sale in accordance with IFRS 5 &#8212; Non-current Assets Held for Sale and Discontinued
Operations, which are recognized at fair value less costs to sell.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingent
liabilities are only included in the identifiable liabilities of the acquiree where there is a present obligation at acquisition date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
acquisition, the acquiree&#8217;s assets and liabilities are reassessed in terms of classification and are reclassified where the classification
is inappropriate for Company&#8217;s reporting purposes. This excludes lease agreements and insurance contracts whose classification remains as per their
inception date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-controlling
interests in the acquiree are measured on an acquisition-by-acquisition basis either at fair value or at the non- controlling interests&#8217;
proportionate share in the recognized amounts of the acquiree&#8217;s identifiable net assets. This treatment applies to non-controlling
interests which are present ownership interests and entitle their holders to a proportionate share of the entity&#8217;s net assets in
the event of liquidation. All other components of non-controlling interests are measured at their acquisition date fair values unless
another measurement basis is required by IFRS.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
cases where the Company held a non-controlling shareholding in the acquiree prior to obtaining control, that interest is measured to
fair value as of the acquisition date. The measurement to fair value is included in profit or loss for the year. Where the existing shareholding
was classified as an available-for-sale financial asset, the cumulative fair value adjustments recognized previously to other comprehensive
income and accumulated in stockholders&#8217; equity are recognized in profit or loss as a reclassification adjustment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill
is determined as the consideration paid, plus the fair value of any shares held prior to obtaining control, plus non-controlling interest
and less the fair value of the identifiable assets and liabilities of the acquiree. If, in the case of a bargain purchase, the result
of this formula is negative, then the difference is recognized directly in profit or loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill
is not amortized but is tested on an annual basis for impairment. If goodwill is assessed to be impaired, that impairment is not subsequently
reversed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
control business combinations are outside the scope of IFRS 3. The Company has elected to account for common control business combinations
using the book value method.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory"><p id="xdx_84C_eifrs-full--DisclosureOfAccountingJudgementsAndEstimatesExplanatory_zWXVqoBpRh2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zkCkmtCoHYql">Significant
judgments and use of estimates</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of consolidated financial statements in conformity with IFRS requires management, from time to time, to make judgements,
estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses.
These estimates and associated assumptions are based on experience and various other factors that are believed to be reasonable under
these circumstances. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DescriptionOfAccountingPolicyForCriticalJudgementsInApplyingAccountingPoliciesPolicyTextBlock"><p id="xdx_84E_ecustom--DescriptionOfAccountingPolicyForCriticalJudgementsInApplyingAccountingPoliciesPolicyTextBlock_z4YYVPSR7e11" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zmhAdHDK235">Critical
judgements in applying accounting policies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
did not make critical judgements in the application of accounting policies, apart from those involving estimations, which would significantly
affect the financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"><p id="xdx_84C_eifrs-full--DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_zEnRc5iN5Vf6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zaNxaanEuSGe">Fair
value estimation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Several
assets and liabilities of the Company are either measured at fair value or disclosure is made of their fair values. Observable market
data is used as inputs to determine fair value, to the extent that such information is available.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents"><p id="xdx_844_eifrs-full--DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_zZMZtg6fLTH2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zYKJ4vKIGYie">Cash
and cash equivalents</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash in hand, bank balances and short-term
deposits with original maturity of three months or less.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory"><p id="xdx_845_eifrs-full--DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_zl7p5yorSCi9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_ziJl5xnGEs16">Restricted
cash</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted
cash represents <span style="background-color: white">money that is held at a bank account related to the Company&#8217;s 2022 convertible
debt and is not available to the company for immediate or general business use. All the restricted cash as of December 31, 2022 was available
to the Company by April 2023.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories"><p id="xdx_84F_eifrs-full--DescriptionOfAccountingPolicyForMeasuringInventories_zxiybQNmqXvl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z5pTeY93YiIe">Inventories</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories
are measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course
of business less the estimated costs of completion and the estimated costs necessary to make the sale.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
cost of inventories comprises of all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their
present location and condition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
cost of inventories is assigned using the first-in, first-out (FIFO) formula.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
inventories are sold, the carrying amount of those inventories are recognized as cost of sales in the period in which the related revenue
is recognized. The amount of any write-down of inventories to net realizable value and all losses of inventories are recognized as an
expense in the period the write-down or loss occurs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"><p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_z3DX907vpkIi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zpN2c4e9hZgj">Property
and Equipment</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment are tangible assets which the Company holds for its own use, and which are expected to be used for more than one year.
An item of property and equipment is recognized as an asset when it is probable that future economic benefits associated with the item
will flow to the Company, and the cost of the item can be measured reliably. Property and equipment are initially measured at cost. Cost
includes all of the expenditures which are directly attributable to the acquisition or construction of the asset, including the capitalization
of borrowing costs on qualifying assets and adjustments in respect of hedge accounting, where appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expenditures
incurred subsequently for major services, additions to or replacements of parts of property and equipment are capitalized if it is probable
that future economic benefits associated with the expenditure will flow to the Company and the cost can be measured reliably. Day-to-day
servicing costs are expensed as incurred. Subsequent to initial recognition, property and equipment are measured at cost less accumulated
depreciation and any accumulated impairment losses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
of an asset commences when the asset is available for use as intended by management. Depreciation is charged to write off the asset&#8217;s
carrying amount over its estimated useful life to its estimated residual value, using a method that best reflects the pattern in which
the asset&#8217;s economic benefits are consumed by the Company. Depreciation is not charged to an asset if its estimated residual value
exceeds or is equal to its carrying amount. Depreciation of an asset ceases at the earlier of the date that the asset is classified as
held for sale or derecognized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipmentTableTextBlock"><p id="xdx_890_ecustom--ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipmentTableTextBlock_zriacziJNnGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
useful lives of items of property and equipment have been assessed as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B2_zXci0MEeAmd3" style="display: none">SCHEDULE
OF USEFUL LIVES OF ITEMS OF PROPERTY AND EQUIPMENT</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 52%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Category</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 24%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
    Method </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Useful
    Life</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Buildings
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--BuildingsMember_zcw99X7Ylaci" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_BuildingsMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">20 years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery
    </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MachineryMember_zFxDkVzSxoSf" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_MachineryMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5
    years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture
    and fixtures </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zA29ywKLGLvf" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_FixturesAndFittingsMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5
    years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Motor
    vehicles </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_z2CHv8tojY56" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_MotorVehiclesMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5
    years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office
    equipment </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OfficeEquipmentMember_zlAyMQIc5fD" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_OfficeEquipmentMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5 years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IT
    equipment </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20220101__20221231__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ITEquipmentMember_z8a1xZpfceTa" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_BottomOfRangeMember_custom_ITEquipmentMember" format="ixt-sec:duryear" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">3</ix:nonNumeric></span>
    &#8211; <span id="xdx_905_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ITEquipmentMember_zZP1FPuFS4L1" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_TopOfRangeMember_custom_ITEquipmentMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5 years</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer
    software </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_dtY_c20220101__20221231__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--ComputerEquipmentMember_zSmLf9cExyki" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_BottomOfRangeMember_ifrs-full_ComputerEquipmentMember" format="ixt-sec:duryear" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">2</ix:nonNumeric></span>
    &#8211; <span id="xdx_90A_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--ComputerEquipmentMember_zFRqecCE9DY7" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_TopOfRangeMember_ifrs-full_ComputerEquipmentMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">8 years</ix:nonNumeric></span> </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spa
    equipment, curtains, crockery, glassware, and linen</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Straight
    line</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember_zXQUS8ch67B3" title="Useful life measured as period of time, property, plant and equipment"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember" format="ixt-sec:durwordsen" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment">5 years</ix:nonNumeric></span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

</ix:nonNumeric><p id="xdx_8AA_zJZbxDx3Golh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold
improvements are amortized over the period of the lease or useful lives of the asset, whichever is shorter.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
residual value, useful life and depreciation method of each asset are reviewed at the end of each reporting year. If the expectations
differ from previous estimates, the change is accounted for prospectively as a change in accounting estimate. The depreciation charge
for each year is recognized in profit or loss unless it is included in the carrying amount of another asset.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
item of property or equipment is derecognized upon disposal or when no future economic benefits are expected from its continued use or
disposal. Any gain or loss arising from the derecognition of an item of property or equipment, determined as the difference between the
net disposal proceeds, if any, and the carrying amount of the item, is included in profit or loss when the item is derecognized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory"><p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory_zUs7Ash7VDb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zXzlwlI3Z3q9">Intangible
assets</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
intangible asset is recognized when it is probable that the expected future economic benefits that are attributable to the asset will
flow to the entity and the cost of the asset can be measured reliably. Intangible assets are initially recognized at cost, less any accumulated
amortization and any impairment losses. Changes in the expected useful life or the expected pattern of consumption of future economic
benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes
in accounting estimates. Refer to Note 4 &#8211; Business Combination for additional details on
the acquired intangibles.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><p id="xdx_890_eifrs-full--DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_zG4XWIq38Vj6" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The useful life of intangible assets has
been assessed as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; display: none; text-align: justify"><span id="xdx_8BB_zqTHDgFvU2h6" style="display: none">SCHEDULE OF USEFUL LIFE OF INTANGIBLE ASSETS</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%; margin-left: 0.5in">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="border-bottom: Black 1.5pt solid; width: 76%">Category</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 22%; text-align: center">Useful Life</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Customer relationships</td><td>&#160;</td>
    <td style="text-align: center"><span id="xdx_90E_eifrs-full--UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill_dtY_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__ifrs-full--CustomerrelatedIntangibleAssetsMember_zGVl2r9aAHp9" title="Useful Life"><ix:nonNumeric contextRef="From2022-01-012022-12-31_ifrs-full_CustomerrelatedIntangibleAssetsMember" format="ixt-sec:duryear" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill">5</ix:nonNumeric></span> years</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Trade names, trademarks, domain names, and licenses</td><td>&#160;</td>
    <td style="text-align: center"><span id="xdx_908_eifrs-full--DescriptionOfUsefulLifeIntangibleAssetsOtherThanGoodwill_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--TradeNamesTrademarksDomainNamesAndLicensesMember_zURmHQDzTsOi" title="Useful Life"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_TradeNamesTrademarksDomainNamesAndLicensesMember" name="ifrs-full:DescriptionOfUsefulLifeIntangibleAssetsOtherThanGoodwill">Indefinite</ix:nonNumeric></span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A8_zv7aLx0KalL5" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 155; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internally developed software costs on GU are recognized as an intangible asset when:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">it
                                            is technologically feasible to complete the asset so that it will be available for use or
                                            sale.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            is an intention to complete and use or sell it.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            is an ability to use or sell it.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">it
                                            will generate probable future economic benefits.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            are available technical, financial, and other resources to complete the development and to
                                            use or sell the asset.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            expenditure attributable to the asset during its development can be measured reliably.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization
begins when development is complete, and the asset is available for use. Development costs are amortized based on a useful life of five
years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory"><p id="xdx_846_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory_z1lBIgxnA3vb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zUQNj7SpW653">Impairment
of Long-Lived Assets</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment
tests are performed on property and equipment when there is an indicator that they may be impaired. When the carrying amount of an item
of property and equipment is assessed to be higher than the estimated recoverable amount, an impairment loss is recognized immediately
in profit or loss to bring the carrying amount in line with the recoverable amount.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
intangible assets, reassessing the useful life of an intangible asset with a finite useful life after it was classified as indefinite
is an indicator that the asset may be impaired. As a result, the asset is tested for impairment and the remaining carrying amount is
amortized over its useful life.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
assesses at each end of the reporting period whether there is any indication that an asset may be impaired. If any such indication exists,
management estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual
asset, the recoverable amount of the cash- generating unit to which the asset belongs is determined.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs to sell and its value in use. If
the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.
That reduction is an impairment loss. An impairment loss of assets carried at cost less any accumulated depreciation or amortization
is recognized immediately in profit or loss. Any impairment loss of a revalued asset is treated as a revaluation decrease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill
acquired in a business combination is, from the acquisition date, allocated to each of the cash- generating units, or groups of cash-generating
units, which are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the
acquiree are assigned to those units or groups of units. An impairment loss is recognized for cash-generating units if the recoverable
amount of the unit is less than the carrying amount of the units. The impairment loss is allocated to reduce the carrying amount of the
assets of the unit in the following order:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">first,
                                            to reduce the carrying amount of any goodwill allocated to the cash-generating unit and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">then,
                                            to the other assets of the unit, pro rata on the basis of the carrying amount of each asset
                                            in the unit.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
entity assesses at each reporting date whether there is any indication that an impairment loss recognized in prior periods for assets
other than goodwill may no longer exist or may have decreased. If any such indication exists, the recoverable amounts of those assets
are estimated.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss does not exceed the carrying
amount that would have been determined had no impairment loss been recognized for the asset in prior periods.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 156; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
reversal of an impairment loss of assets carried at cost less accumulated depreciation or amortization other than goodwill is recognized
immediately in profit or loss. Any reversal of an impairment loss of a revalued asset is treated as a revaluation increase.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"><p id="xdx_843_eifrs-full--DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_zW28hAt0Jbql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zaMbfN83EAp8">Financial
Instruments</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
instruments held by the Company are classified in accordance with the provisions of IFRS 9 &#8212; Financial Instruments. Broadly, the
classification possibilities, which are adopted by the Company, as applicable, are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
assets which are equity instruments:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mandatorily
                                            at fair value through profit or loss; or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designated
                                            as at fair value through other comprehensive income. (This designation is not available to
                                            equity instruments which are held for trading, or which are contingent consideration in a
                                            business combination).</span></td></tr>
                                                                                   </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
assets which are debt instruments:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized
                                            cost. (This category applies only when the contractual terms of the instrument give rise,
                                            on specified dates, to cash flows that are solely payments of principal and interest on principal,
                                            and where the instrument is held under a business model whose objective is met by holding
                                            the instrument to collect contractual cash flows); or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mandatorily
                                            at fair value through profit or loss. (This classification automatically applies to all debt
                                            instruments which do not qualify as at amortized cost or at fair value through other comprehensive
                                            income); or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designated
                                            at fair value through profit or loss. (This classification option can only be applied when
                                            it eliminates or significantly reduces an accounting mismatch.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial
liabilities:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized
                                            cost;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mandatorily
                                            at fair value through profit or loss. (This applies to contingent consideration in a business
                                            combination or to liabilities which are held for trading); or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designated
                                            at fair value through profit or loss. (This classification option can be applied when it
                                            eliminates or significantly reduces an accounting mismatch;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            liability forms part of a group of financial instruments managed on a fair value basis; or
                                            it forms part of a contract containing an embedded derivative and the entire contract is
                                            designated as at fair value through profit or loss).</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Trade
and other receivables</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
and other receivables, including amounts due from related parties, are classified as financial assets subsequently measured at amortized
cost. They have been classified in this manner because their contractual terms give rise, on specified dates, to cash flows that are
solely payments of principal and interest on the principal outstanding, and the Company&#8217;s business model is to collect the contractual
cash flows on trade and other receivables.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
and other receivables are recognized when the Company becomes a party to the contractual provisions of the receivables. They are measured,
at initial recognition, at fair value plus transaction costs, if any and are subsequently measured at amortized cost. The amortized cost
is the amount recognized on the receivable initially, minus principal repayments, plus cumulative amortization (interest) using the effective
interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
loss allowance for expected credit losses is recognized on trade and other receivables and is updated at each reporting date. The Company
measures the loss allowance for trade and other receivables at an amount equal to lifetime expected credit losses (lifetime ECL), which
represents the expected credit losses that will result from all possible default events over the expected life of the receivable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
provision matrix is used as a practical expedient to the determination of expected credit losses on trade and other receivables. The
provision matrix is based on the Company&#8217;s historic credit loss experience, adjusted for factors that are specific to the debtors,
general economic conditions, and an assessment of both the current and forecasted direction of conditions at the reporting date, including
the time value of money, where appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loss allowance is calculated on a collective basis for all trade and other receivables in totality. An impairment gain or loss is recognized
in profit or loss with a corresponding adjustment to the carrying amount of trade and other receivables, through use of a loss allowance
account. The impairment loss is included in operating expenses as a movement in credit loss allowance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Receivables
are written off when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic
prospect of recovery, e.g., when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Receivables
written off may still be subject to enforcement activities under the Company&#8217;s recovery procedures, considering legal advice where
appropriate. Any recoveries made are recognized in profit or loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Investments
in equity instruments</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
in equity instruments are presented in Note 11, Investments at Fair Value. Investments in equity instruments are designated as mandatorily
at fair value through profit or loss. As an exception to this classification, the Company may make an irrevocable election, on an instrument-by-instrument
basis, and on initial recognition, to designate certain investments in equity instruments as at fair value through other comprehensive
income. The designation as at fair value through other comprehensive income is never made on investments which are either held for trading
or contingent consideration in a business combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
in equity instruments are recognized when the Company becomes a party to the contractual provisions of the instrument. The investments
are measured, at initial recognition, at fair value. Transaction costs are added to the initial carrying amount for those investments
which have been designated as at fair value through other comprehensive income. All other transaction costs are recognized in profit
or loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
in equity instruments are subsequently measured at fair value with changes in fair value recognized either in profit or loss or in other
comprehensive income (and accumulated in equity in the reserve for valuation of investments), depending on their classification. Fair
value gains or losses recognized on investments at fair value through profit or loss are included in other operating gains (losses).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends
received on equity investments are recognized in profit or loss when the Company&#8217;s right to receive the dividends is established
unless the dividends clearly represent a recovery of part of the cost of the investment. Dividends are included in investment income.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
in equity instruments are subject to impairment provisions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
gains or losses which accumulated in equity in the reserve for valuation of investments for equity investments at fair value through
other comprehensive income are not reclassified to profit or loss on derecognition of the related investment. Instead, the cumulative
amount is transferred directly to retained earnings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Trade
and other payables</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
and other payables, excluding VAT and amounts received in advance, are classified as financial liabilities subsequently measured at amortized
cost. They are recognized when the Company becomes a party to the contractual provisions, and are measured, at initial recognition, at
fair value plus transaction costs, if any, and are subsequently measured at amortized cost using the effective interest method. The effective
interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant
period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points
paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through
the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
trade and other payables contain a significant financing component, and the effective interest method results in the recognition of interest
expense, then it is included in profit or loss. Trade and other payables expose the Company to liquidity risk and possibly to interest
rate risk. Refer to Note 30, Financial Risk Management, for details of risk exposure and management thereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loans
payable and convertible debt</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
payable are recognized when the Company becomes a party to the contractual provisions of the loan and are classified as financial liabilities
subsequently measured at amortized cost.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loans are measured, at initial recognition, at fair value plus transaction costs, if any, and are subsequently measured at amortized
cost using the effective interest method. Interest expense, calculated on the effective interest method, is included in profit or loss.
Borrowings expose the Company to liquidity risk. Refer to Note 30, Financial Risk Management, for details of risk exposure and management
thereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
debt is bifurcated into its liability component and equity or derivative liability component at the date of issue, in accordance with
the substance of the debt agreements. Conversion options that are bifurcated as derivative liabilities are recorded as a debt discount,
which is amortized over the term of the related debt. Derivative liabilities are recorded at fair value at issuance and are marked-to-market
at each statement of financial position date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory"><p id="xdx_849_eifrs-full--DescriptionOfAccountingPolicyForIncomeTaxExplanatory_zCIcKbIIrR71" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zVDGhIry3Gf3">Income
taxes</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Current
income taxes</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid
to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted
at the reporting date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
income taxes are recognized in profit or loss except to the extent that the tax relates to items recognized outside profit or loss, either
in other comprehensive income or directly in equity. Management evaluates positions taken in the tax returns with respect to situations
in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Deferred
taxes</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
deferred tax asset or liability is recognized for all taxable temporary differences, except to the extent that the deferred tax asset
or liability arises from the initial recognition of an asset or liability in a transaction which at the time of the transaction, affects
neither accounting profit nor taxable profit (tax loss).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
deferred tax asset is recognized for all deductible temporary differences to the extent that it is probable that taxable profit will
be available against which the deductible temporary difference can be utilized. A deferred tax asset is recognized for the carry forward
of unused tax losses and unused Secondary Tax on Companies (&#8220;STC&#8221;) credits to the extent that it is probable that future
taxable profit will be available against which the unused tax losses and unused STC credits can be utilized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability
is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
and deferred taxes are recognized as income or an expense and included in profit or loss for the period, except to the extent that the
tax arises from:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            transaction or event which is recognized, in the same or a different period, to other comprehensive
                                            income, or</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            business combination.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
tax and deferred taxes are charged or credited to other comprehensive income if the tax relates to items that are credited or charged,
in the same or a different period, to other comprehensive income.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
tax and deferred taxes are charged or credited directly to equity if the tax relates to items that are credited or charged, in the same
or a different period, directly in equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory"><p id="xdx_84C_eifrs-full--DescriptionOfAccountingPolicyForLeasesExplanatory_zuVO4j7DFfbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zzvb0Lu2hoVj">Leases</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for its various operating leases in accordance with IFRS 16, Leases (&#8220;IFRS 16&#8217;). Management assesses whether
a contract is or contains a lease at the inception of the contract. A contract is or contains a lease if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to assess whether a contract is or contains a lease, management determines whether the asset under consideration is &#8220;identified&#8221;,
which means that the asset is either explicitly or implicitly specified in the contract and that the supplier does not have a substantial
right of substitution throughout the period of use. Once management has concluded that the contract includes an identified asset, the
right to control the use thereof is considered. To this end, control over the use of an identified asset only exists when the Company
has the right to substantially all of the economic benefits from the use of the asset as well as the right to direct the use of the asset.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to IFRS 16, a lease liability and corresponding right-of-use asset are recognized at the lease commencement date for all lease agreements
for which the Company is a lessee. Details of leasing arrangements where the Company is a lessee are presented in Note 10, Right of Use
Asset and Lease Liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Right-of-use
assets</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right-of-use
assets are presented as a separate line item on the consolidated statement of financial position. Lease payments included in the measurement
of the lease liability comprise the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            initial amount of the corresponding lease liability;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
                                            lease payments made at or before the commencement date;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
                                            initial direct costs incurred;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
                                            estimated costs to dismantle and remove the underlying asset or to restore the underlying
                                            asset or the site on which it is located, when the Company incurs an obligation to do so,
                                            unless these costs are incurred to produce inventories; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">less
                                            any lease incentives received.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right-of-use
assets are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over
the shorter period of lease term and useful life of the underlying asset. However, if a lease transfers ownership of the underlying asset
or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset
is depreciated over the useful life of the underlying asset. Depreciation starts at the commencement date of a lease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
right-of-use assets which are depreciated over their useful lives, the useful lives are determined consistently with items of the same
class of property and equipment. Refer to the accounting policy for property and equipment for details of useful lives.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
residual value, useful life and depreciation method of each asset are reviewed at the end of each reporting year. If the expectations
differ from previous estimates, the change is accounted for prospectively as a change in accounting estimate. Each part of a right-of-use
asset with a cost that is significant in relation to the total cost of the asset is depreciated separately. The depreciation charge for
each year is recognized in profit or loss unless it is included in the carrying amount of another asset.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 160; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Lease
liability</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted
by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease
payments included in the measurement of the lease liability comprise the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fixed
                                            lease payments, including in-substance fixed payments, less any lease incentives;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variable
                                            lease payments that depend on an index or rate, initially measured using the index or rate
                                            at the commencement date;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            amount expected to be payable by the Company under residual value guarantees;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            exercise price of purchase options if the Company is reasonably certain to exercise the option;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">lease
                                            payments in an optional renewal period if the Company is reasonably certain to exercise an
                                            extension option, and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">penalties
                                            for early termination of a lease if the lease term reflects the exercise of an option to
                                            terminate the lease.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
remeasures the lease liability when:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            has been a change to the lease term, in which case the lease liability is remeasured by discounting
                                            the revised lease payments using a revised discount rate;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            has been a change in the assessment of whether the Company will exercise a purchase, termination,
                                            or extension option, in which case the lease liability is remeasured by discounting the revised
                                            lease payments using a revised discount rate;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            has been a change to the lease payments due to a change in an index or a rate, in which case
                                            the lease liability is remeasured by discounting the revised lease payments using the initial
                                            discount rate (unless the lease payments change is due to a change in a floating interest
                                            rate, in which case a revised discount rate is used);</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            has been a change in expected payment under a residual value guarantee, in which case the
                                            lease liability is remeasured by discounting the revised lease payments using the initial
                                            discount rate;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 70.4pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
                                            lease contract has been modified and the lease modification is not accounted for as a separate
                                            lease, in which case the lease liability is remeasured by discounting the revised payments
                                            using a revised discount rate.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of- use asset or
is recognized in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory"><p id="xdx_843_eifrs-full--DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_zoRZsWT1vq8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zCRsYsJhblAa">Contributed
capital and equity</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contributed
capital represents the aggregate shareholder investment in the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-controlling
interest represents the portion of comprehensive income (loss) and net assets attributable to minority shareholders. Non-controlling
interest is identified in the consolidated statements of operations and under equity in the consolidated statements of financial position.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue"><p id="xdx_848_eifrs-full--DescriptionOfAccountingPolicyForRecognitionOfRevenue_z0ccRD9re7E4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zlUkJ25giXre">Revenue
from contracts with customers</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognizes revenue from the following major sources:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Digital
                                            education platform</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
                                            person education courses</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
                                            of goods &#8212; retail</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service
                                            revenue</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue
is measured based on the consideration to which the Company expects to be entitled in exchange for transferring promised goods or services
to a customer, excluding amounts collected on behalf of third parties. Revenue is recognized when the Company satisfies a performance
obligation by transferring a promised good or service to the customer, which is when the customer obtains control of the good or service.
A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognized is the amount allocated to
the satisfied performance obligation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
detailed analysis of performance obligations for each revenue source follows.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Digital
education platform and multi-part documentaries</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
revenue is derived from online workshops, training programs, assessments, courses, accreditations certifications, licenses, and documentaries
provided by both the Company itself and by partners, as well as memberships. Revenue is derived, and performance obligations are fulfilled,
over the course of delivery of the product or service, which may be at the time of sale or may be monthly for up to twelve months. The
company is compensated by way of fees for the product or service as displayed at events or online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>In
person education courses</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
revenue is derived from classes, workshops, training programs and conferences that are delivered in person at the Company&#8217;s campuses
or third-party venues. Revenue is derived, and performance obligations are fulfilled, at the time of delivering the event or over the
course of delivery of the product or services. The company is compensated by way of course fees as displayed at events or online.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Sales
of goods &#8212; retail</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
revenue is derived by the Company&#8217;s campus businesses and includes food and beverage, spa products, merchandise, and ancillary
products. Revenue is derived, and performance obligations are fulfilled, at the point in time of providing the goods; in the case of
food and beverage delivered as part of a pre-paid accommodation package, revenue is recognized daily over the time of guests&#8217; duration
of stay. The company is compensated based on the advertised or agreed price of the goods as part of accommodation packages or on in-house
menus in the case of food and beverage, and on in-house price lists or price tickets in the case of spa products, merchandise, and ancillary
products. </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Service
revenue</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
revenue is derived by the Company&#8217;s campus businesses and includes accommodation, spa, conferences and events, and memberships.
Revenue is derived, and performance obligations are fulfilled, at the time of providing the services; in the case of accommodation as
part of a pre-paid booking, revenue is recognized daily over the time of guests&#8217; duration of stay, and for memberships revenue
is recognized monthly over the course of delivery of the product or service which may be up to twelve months. The company is compensated
based on the advertised or agreed price of the goods as displayed online by the company or booking agents in the case of accommodation,
on in-house price lists in the case of spa, by tailored quote in the case of conferences and events, and as displayed in-house or online
in the case of memberships.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Deferred
revenue</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
timing of the Company&#8217;s revenue recognition may differ from the timing of payment by its customers. A contract asset (accounts
receivable) is recorded when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively,
when payment precedes the provision of the related services, the Company records a contract liability (deferred revenue) until the performance
obligations are satisfied.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
revenue represents the Company&#8217;s contract liability for cash collections received from its customers in advance of performance
under the contract. Deferred revenue is recognized as revenue upon completion of the performance obligation, which generally occurs within
one year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, the Company had deferred revenue for remaining unsatisfied performance obligations of $ <span id="xdx_90F_eifrs-full--TransactionPriceAllocatedToRemainingPerformanceObligations_iI_c20221231_z45WYtnQ1YTc" title="Deferred revenue"><ix:nonFraction name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,391,993</ix:nonFraction></span> (2021: $<span id="xdx_905_eifrs-full--TransactionPriceAllocatedToRemainingPerformanceObligations_iI_c20211231_zF2K88J3Xn6c" title="Deferred revenue"><ix:nonFraction name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,561,912</ix:nonFraction></span>),
which is expected to be recognized within one year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company recognized revenue of $<span id="xdx_901_eifrs-full--RevenueThatWasIncludedInContractLiabilityBalanceAtBeginningOfPeriod_c20220101__20221231_zvcY7588qKK3" title="Revenue"><ix:nonFraction name="ifrs-full:RevenueThatWasIncludedInContractLiabilityBalanceAtBeginningOfPeriod" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,349,941</ix:nonFraction></span> (2021: $<span id="xdx_906_eifrs-full--RevenueThatWasIncludedInContractLiabilityBalanceAtBeginningOfPeriod_c20210101__20211231_z9lXKVYrnUfk" title="Revenue"><ix:nonFraction name="ifrs-full:RevenueThatWasIncludedInContractLiabilityBalanceAtBeginningOfPeriod" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">758,794</ix:nonFraction></span>) that was included in the deferred revenue
balance at the beginning of the period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory"><p id="xdx_843_eifrs-full--DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_zrI4zMekUiHl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zXjxMYxSUOei">Borrowing
costs</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coupon
interest is recognized in the period in which it is incurred, while other borrow costs (debt discount) are amortized to interest expense
over the expected term of the notes using the interest method.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory"><p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_zPK8ilzyIfi7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zHl1aZOSP3Jb">Foreign
currency transactions</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s reporting currency is the U.S. dollar. The functional currencies of the Genius Group and its subsidiaries are their local
currencies (Singapore dollar, British pound, Indonesian rupiah and South African Rand, New Zealand Dollar) and the functional currency
of ERL, UAV and RF is the U.S. dollar. The Company engages in foreign currency denominated transactions with customers and suppliers,
as well as between subsidiaries with different functional currencies. Gains and losses resulting from transactions denominated in non-functional
currencies are recognized in earnings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the end of the reporting period, assets and liabilities are translated into U.S. dollars using the exchange rate at the balance sheet
date and revenue and expense accounts are translated at a weighted average exchange rate for the period or for the year then ended. Resulting
translation adjustments are made directly to accumulated other comprehensive income.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange
differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they
were translated on initial recognition during the period, or in previous consolidated financial statements, are recognized in profit
or loss in the period in which they arise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
a gain or loss on a non-monetary item is recognized to other comprehensive income and accumulated in equity, any exchange component of
that gain or loss is recognized to other comprehensive income and accumulated in equity. When a gain or loss on a non-monetary item is
recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss. Cash flows arising from transactions
in a foreign currency are recorded in U.S. dollars by applying to the foreign currency amount the exchange rate between the U.S. dollar
and the foreign currency at the date of the cash flow.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory"><p id="xdx_848_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_ztIkA7QUeS49" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zGrDs4bcixM6">Stock-based
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
service-based awards, compensation expense is measured at the grant date based on the fair value of the award and is recognized on a
straight-line basis over the requisite service period, which is typically the vesting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2021, has been restated
for errors made with regard to revenue recognition and the reporting of gross vs. net revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
December, 2022, the Company updated its revenue recognition policy memo and uncovered an error in the implementation of accounting treatment
for certain revenue recognition transactions with a third-party sales partner. The Company evaluated the materiality of this inaccurate
accounting treatment, considering both quantitative and qualitative factors in accordance with SAB 99. The Company believes a restatement
is necessary due to its review of the relevant factors. In accordance with IFRS, the restatement records revenue and expense net for
2021 sales transactions where the Company was not the clear principle in the transaction. As a result, the restatement will decrease
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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of revenue with a third-party sales partner. The changes are in revenue and cost of revenue and have been restated from
a gross presentation to a net presentation, please see the table below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"></p>

<p><span id="xdx_8B1_zn9kluRziJdc" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE
OF RESTATEMENTS IN THE CONSOLIDATED
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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</ix:nonNumeric><p id="xdx_8A7_zad3MpLAsTnl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><p id="xdx_853_zKHj6Defg0nh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations"><p id="xdx_80E_eifrs-full--DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_zVWiQ0C8ICJ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
3 &#8212; <span id="xdx_82C_z02IztvG4JAl">RECENT ACCOUNTING PRONOUNCEMENTS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="text-decoration: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfFirstTimeAdoptionExplanatory"><p id="xdx_893_eifrs-full--DisclosureOfFirstTimeAdoptionExplanatory_zzsmbjB16UZ6"><span id="xdx_8BE_zgRgHtj78NO3" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">RECENT ACCOUNTING STANDARDS</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="text-decoration: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 54%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recently
    Adopted Accounting Standards</i></b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Effective
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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application.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 164; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 54%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recent
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 44%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Effective
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    1, 2023</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments
    to IAS 12 Income Taxes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

</ix:nonNumeric><p id="xdx_8AE_zDZCfjrJXqm6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company expects that the adoption of the standards above will have no material impact on the consolidated financial statements in the
year of initial application.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfBusinessCombinationsExplanatory"><p id="xdx_80C_eifrs-full--DisclosureOfBusinessCombinationsExplanatory_zExqxnA022x5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
4 &#8212; <span id="xdx_822_z1fd0qA03Jhb">BUSINESS COMBINATIONS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">During 2022, the Company acquired Education
Angels, University of Antelope Valley, E-Squared Education, Property and Mastermind Networks Limited and Revealed Films. The Company used
the income approach for the valuation of the acquired intangible assets, the contingent consideration and the options issued.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">To account for the acquisition intangibles
the Company used the following valuation methods:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Trade Names, Trademarks, Domain Names
and Licenses: In determining the fair values a present value technique known as the relief-from-royalty method was used. The premise
of this valuation method is that if the trade names, trademarks, domain names, and licenses were licensed to an unrelated party, the
unrelated party would pay a percentage of revenue for use of the them. The trade names, trademarks, domain names, and license owner
is, however, spared this cost. The present value of these cost savings over time, or relief from royalty, represents the
value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Customer Relationships: The fair value
of the customer relationships was determined utilizing a present value technique involving a discounted cash flow analysis. This method
is based on the notion that the value of a customer contract and related customer relationship is equal to the incremental after-tax
cash flows attributable to the customer contract and related customer relationship after deductions and charges for the economic return
on contributory assets such as working capital, fixed assets and other identifiable intangible assets such as an assembled workforce</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">To account for the Options and Top Up Consideration
for the acquisitions the Company used the following valuation methods:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Top Up Consideration (excluding Revealed
Films) and the Call Option: The fair values of each was determined utilizing monte carlo simulations to simulate
the potential payoffs. A monte carlo simulation is a problem solving technique used to approximate the probability of certain
outcomes by running multiple trial runs, called simulations, using random variables.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Put Option: The fair value of the
put option was determined using a closed-form option pricing model commonly referred to as the Black-Scholes option pricing model.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Revealed Films Top Up Consideration: The fair value was determined utilizing
a present value technique involving a discounted cash flow analysis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd.&#8217;s Acquisition of Education Angels</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 30, 2022, Genius Group Ltd acquired <span id="xdx_903_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_uPure_c20220430__ifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_z8vYi3psbZd2" title="Percentage of voting equity interests acquired"><ix:nonFraction name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>% of the voting equity interest of Education Angels for $<span id="xdx_909_eifrs-full--EquityInterestsOfAcquirer_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_zVSm0x67SEM3" title="Consideration transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,918,700</ix:nonFraction></span> of purchase consideration,
made up of <span id="xdx_905_eifrs-full--NumberOfSharesIssued_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_zAZfmRldiKg6" title="Consideration made up of shares"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">333,687</ix:nonFraction></span> of Genius Group Ltd ordinary shares. Education Angels operates in New Zealand and provides early education learning
services in New Zealand. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Education Angels at acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_EducationAngelsMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"><p id="xdx_89D_eifrs-full--DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_z6zy6ncXy264"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zXP0TnS2sifa" style="display: none">SCHEDULE OF THE ALLOCATION OF THE PURCHASE CONSIDERATION
TO THE FAIR VALUE OF THE ASSETS AND LIABILITIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_493_20220430__ifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_z3BDp9KK3is" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eifrs-full--EquityInterestsOfAcquirer_iI_zNZx78S10w78" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Value of shares</p></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Less: acquired cash</p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:AcquiredCashIncludingStockOption" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">26,940</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_40E_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_zGDUoXituWjk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><span style="background-color: white"><b>Purchase
                                            price, net of acquired cash</b></span></p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,891,760</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_ecustom--AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets_iI_z036rsVwfL44" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid
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    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">113,413</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_40E_eifrs-full--PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_iNI_di_zvPlJcpsuVo6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fixed
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">69,637</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Intangible assets</p></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,640,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Accounts payable, accrued expenses and other liabilities</p></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">Deferred tax liability</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_407_eifrs-full--GoodwillRecognisedAsOfAcquisitionDate_iI_zPQn2nBenav6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Goodwill</b></p></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_EducationAngelsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,423,270</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A2_zxzVhFqcYQI2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_EducationAngelsMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><p id="xdx_893_eifrs-full--DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_zSvSQaFlX2d5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
acquired intangible assets are as follows</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B4_zdjY0zoAik6e">SCHEDULE
OF ACQUIRED INTANGIBLE ASSETS ACQUIRED</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_497_20220430__ifrs-full--BusinessCombinationsAxis__custom--EducationAngelsMember_zrA3jP3MQKui" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr id="xdx_40B_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_hifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--TradeNamesTrademarksDomainNamesAndLicensesMember_zbVoE7QYJboc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 78%; text-align: left; padding-bottom: 1.5pt">Trade names, trademarks, domain names and licenses</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1.5pt; width: 18%; text-align: right"><ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_EducationAngelsMember_custom_TradeNamesTrademarksDomainNamesAndLicensesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,640,000</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8A5_zmqypCiayN57" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 165; Value: 1 -->
    <div style="border-bottom: Black 1.5pt solid; margin-top: 0pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd.&#8217;s Acquisition of Property Investors Network</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 30, 2022, Genius Group Ltd acquired <span id="xdx_90F_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zGENe5rcrfW6" title="Percentage of voting equity interests acquired"><ix:nonFraction name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>%
of the voting equity interest of Property Investors Network, and its wholly owned subsidiaries, for $<span id="xdx_900_eifrs-full--ContingentConsiderationRecognisedAsOfAcquisitionDate_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zlLMQRFHHKEf" title="Purchase consideration"><ix:nonFraction name="ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,655,000</ix:nonFraction></span>
of purchase consideration, made up of <span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zLRNVXIMZetj" title="Consideration made up of shares"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,959,518</ix:nonFraction></span>
of Genius Group Ltd ordinary shares for $<span id="xdx_90C_eifrs-full--EquityInterestsOfAcquirer_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_z3d0hI88ocgb" title="Consideration made up from shares"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,017,000</ix:nonFraction></span>,
$<span id="xdx_902_eifrs-full--CashTransferred_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zkGhAIZ7wmQd" title="Cash transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,837,000</ix:nonFraction></span>
in cash, $<span id="xdx_90A_ecustom--AmountOfConsiderationPaybleUponMilestone_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zaONXxbxmjxg" title="Amount of consideration payble upon milestone"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleUponMilestone" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">701,000</ix:nonFraction></span>
in top up consideration payable if the 2x revenue or 10x EBITDA in 2022, 2023 or 2024 exceeds the purchase
price or the previous year&#8217;s consideration; <span id="xdx_908_ecustom--DescriptionOfAcquisition_c20220401__20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zZeBga9YWVRh" title="Description of acquisition"><ix:nonNumeric contextRef="From2022-04-012022-04-30_custom_PropertyInvestorsNetworkMember" name="GNS:DescriptionOfAcquisition">the difference between the value will be paid in additional consideration by 90% in
shares and 10% in cash and $<span id="xdx_90E_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zxmrIqAEUhgl" title="Amount of consideration payble in call options"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,100,000</ix:nonFraction></span>
in call options.</ix:nonNumeric></span> The company has issued a call option to the seller of Property Investors
Network which allows the seller to exercise the call option to repurchase the company from the buyer, if the value of Company&#8217;s
shares held by the seller is below GBP <span id="xdx_906_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_pn5n6_uGBP_c20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zBxsLWbgCks4" title="Amount of consideration payble in call options"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="GBP">10.2</ix:nonFraction></span> million. The validity of such option is one year from the first anniversary of the acquisition
close date. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options. Property Investors Network is a United Kingdom based entity which delivers events
and education programs to the property investors. </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Property Investors network at acquisition.</span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_PropertyInvestorsNetworkMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"><p id="xdx_899_eifrs-full--DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_z9HLR8OvKE5c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_zh7kAla0L1m6" style="display: none">SCHEDULE
OF THE ALLOCATION OF THE PURCHASE CONSIDERATION TO THE FAIR VALUE OF THE ASSETS AND LIABILITIES</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49E_20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zNApFnRAo553" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    price</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40C_eifrs-full--EquityInterestsOfAcquirer_iI_zz7i3OjPoZN9" style="vertical-align: bottom; background-color: White">
    <td style="width: 78%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value of shares</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="padding-bottom: 1.5pt; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,017,000</ix:nonFraction></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40F_eifrs-full--CashTransferred_iI_zNV9H2Sen8Ld" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,837,000</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_ecustom--AmountOfConsiderationPaybleUponMilestone_iI_z1nO3rUPJv67" style="vertical-align: bottom; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Top-up share options</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleUponMilestone" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">701,000</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40C_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_zvxrZMMuyBGj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Call / Put option</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,100,000</ix:nonFraction></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_409_ecustom--AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption_iI_zB9OYbYxoVcf" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total purchase price</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,655,000</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_ecustom--AcquiredCashIncludingStockOption_iI_zt7itcq5Aoyh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: acquired cash</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:AcquiredCashIncludingStockOption" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">347,952</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_400_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_zxoOnWCIRNY8" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    price, net of acquired cash</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,307,048</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--FairValueOfAcquiredReceivables_iNI_di_zokARLtPus55" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:FairValueOfAcquiredReceivables" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">461,249</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_407_ecustom--AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets_iI_zD5iHdvTaL34" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and other
    current assets</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">6,111,957</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_405_eifrs-full--PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_iNI_di_zKDvE8Nvk6X3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fixed assets</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,994</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iNI_di_zZoFQlMXv4g9" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,980,000</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_40F_eifrs-full--TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_iI_zq0uqHzyObC1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable, accrued
    expenses and other liabilities</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,833,718</ix:nonFraction></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40D_eifrs-full--DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_iI_z2N90uQGN3Zh" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: left">Deferred tax liability</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,171,555</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eifrs-full--GoodwillRecognisedAsOfAcquisitionDate_iI_zT2cktBYso7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">21,734,121</ix:nonFraction></span><span style="font-family: Times New Roman, Times, Serif"></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8AC_zkdjDRxwriy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_PropertyInvestorsNetworkMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><p id="xdx_89F_eifrs-full--DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zEju4SDmJyga" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="background-color: white"><b>The acquired
intangible assets are as follows</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;<span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zPJO2gpXvMT8">SCHEDULE
OF ACQUIRED INTANGIBLE ASSETS ACQUIRED</span></span></b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_496_20220430__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_z4kLelEv7561" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_hifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--TradeNamesTrademarksDomainNamesAndLicensesMember_zVea4amTM6Rc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 78%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
    names, trademarks, domain names and licenses</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember_custom_TradeNamesTrademarksDomainNamesAndLicensesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,900,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_hifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--CustomerRelationshipMember_zJbdna4JpH8d" style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer
    relationship</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember_custom_CustomerRelationshipMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">80,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_z6rqaUjNXRZ1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_PropertyInvestorsNetworkMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,980,000</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8A6_z85gIScW5fuf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd.&#8217;s Acquisition of E-Square</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 31, 2022, Genius Group Ltd acquired <span id="xdx_90A_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zXEOsi9a2Sab" title="Percentage of voting equity interests acquired"><ix:nonFraction name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>%
of the voting equity interest of E-Square, and its wholly owned subsidiaries, for $<span id="xdx_90E_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zj6sxmfQRxQl" title="Consideration transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,845,000</ix:nonFraction></span>
of purchase consideration, made up of <span id="xdx_906_eifrs-full--NumberOfSharesIssued_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_znKW5slwx1Vk" title="Shares transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">328,236</ix:nonFraction></span>
of Genius Group Ltd ordinary shares for $<span id="xdx_905_eifrs-full--EquityInterestsOfAcquirer_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_z5VqoL6B9pec" title="Consideration made up from shares"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,692,000</ix:nonFraction></span>,
$<span id="xdx_907_eifrs-full--CashTransferred_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zKVhbuGvkfJb" title="Cash transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">403,000</ix:nonFraction></span>
in cash, loans payable of $<span id="xdx_902_ecustom--LoansTransferred_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zpI2FBUsrmli" title="Loans transferred, acquisition-date fair value"><ix:nonFraction name="GNS:LoansTransferred" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">299,000</ix:nonFraction></span>,
and $<span id="xdx_906_ecustom--PurchasePriceInPutOption_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_z59aZSJj2U94" title="Purchase price in put option"><ix:nonFraction name="GNS:PurchasePriceInPutOption" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">451,000</ix:nonFraction></span>
in put option. The company has also issued a put option to the seller of E-Squared Enterprises Ltd which allows the seller to
exercise the put option and repurchase the company from the buyer, if the Company&#8217;s shares trade below $<span id="xdx_90A_ecustom--SharesTradePrice_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zQVzemY0W55a" title="Shares trade price"><ix:nonFraction name="GNS:SharesTradePrice" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">5.81</ix:nonFraction></span> ($<span id="xdx_908_ecustom--PreSplitSharesTradePrice_iI_c20220531__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_z0We76EBqobh" title="Pre split shares trade price"><ix:nonFraction name="GNS:PreSplitSharesTradePrice" contextRef="AsOf2022-05-31_custom_ESquareMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">34.87</ix:nonFraction></span>
pre-split) at any given point of time from the date of commencement to two years. The Company has agreed to pay top up consideration
for the year 2022 and 2023 for the positive difference between 2x annual revenue or 10x EBITDA for the financial year minus the
hurdle amount which is the revenue or EBITDA for the previous year. The value of top up consideration is zero as of the acquisition
date. Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair value of earn
outs, and the fair value of options. E-Square operates as a primary school, secondary school, and vocational college provider in
South Africa.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
E-Square at acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_ESquareMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"><p id="xdx_89E_eifrs-full--DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--ESquareMember_z0vEikOEt1B6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span id="xdx_8B2_z4nVdLh2a9vk" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE
OF THE ALLOCATION OF THE PURCHASE CONSIDERATION TO THE FAIR VALUE OF THE ASSETS AND LIABILITIES</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" id="xdx_492_20220430__ifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zmCqwiabyUN3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Purchase price</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_eifrs-full--EquityInterestsOfAcquirer_iI_zsukcMPNMZpc" style="vertical-align: bottom; background-color: White">
    <td style="width: 78%">Value of shares</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,692,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eifrs-full--CashTransferred_iI_zM8HgPtfwOr4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">403,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_ecustom--DeferredTaxPaymentRecognisedAsOfAcquisitionDate_iI_zmHYYnDbAB02" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred payment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:DeferredTaxPaymentRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">299,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_ztcu7WdMH1a5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; text-align: left">Call / Put option</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">451,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_409_ecustom--AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption_iI_zIIWSxpj6pgl" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold">Total purchase price</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,845,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_ecustom--AcquiredCashIncludingStockOption_iI_zAL33fcO0JR2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; text-align: left">Less: acquired cash</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="GNS:AcquiredCashIncludingStockOption" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">262,518</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr id="xdx_400_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_zTaKmK4dKSi2" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Purchase price, net of acquired cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,582,482</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_eifrs-full--FairValueOfAcquiredReceivables_iNI_di_zjzFGHthHRcc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Accounts receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:FairValueOfAcquiredReceivables" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">178,081</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_407_ecustom--AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets_iI_zxhdUc7xzkr2" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Prepaid expenses and other current assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="GNS:AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">31,242</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_409_eifrs-full--PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_iNI_di_z1UNyMrFcvTa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Fixed assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">272,348</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iNI_di_zkQx2knrzgg3" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Intangible assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
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    <td style="text-align: left">Accounts payable, accrued expenses and other liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-04-30_custom_ESquareMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">722,275</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eifrs-full--DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_iI_za2ZgiuxQnoi" style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

</ix:nonNumeric><p id="xdx_8A3_z9LtcmQj792l" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_ESquareMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><p id="xdx_891_eifrs-full--DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--ESquareMember_zwpjk6HIjl0j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>The
acquired intangible assets are as follows</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zAj0y8VfgmBg" style="display: none">SCHEDULE
OF ACQUIRED INTANGIBLE ASSETS ACQUIRED</span>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
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  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_hifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--CustomerRelationshipMember_zNnmxmUqigzd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_406_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_zBXYxqA16ffk" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-weight: bold">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8A8_z6vLvJUR1F1g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 166; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd.&#8217;s Acquisition of University of Antelope Valley</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 7, 2022, Genius Group Ltd acquired <span id="xdx_901_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zCgDM8K1a1rj"><ix:nonFraction name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%
of the voting equity interest of University of Antelope Valley for $<span id="xdx_903_ecustom--AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption_iI_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zQWBqvA8bom7"><ix:nonFraction name="GNS:AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,487,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of purchase consideration, made up of <span id="xdx_907_eifrs-full--NumberOfSharesIssued_iI_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_z8AhXsOklRk1"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of Genius Group Ltd ordinary shares for $<span id="xdx_908_eifrs-full--EquityInterestsOfAcquirer_iI_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_ztpw9Uyn7Mx9"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,470,000</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
$<span id="xdx_90C_eifrs-full--CashTransferred_iI_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zqQfTY7AKDa"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of cash and $<span id="xdx_902_ecustom--AmountOfConsiderationPaybleUponMilestone_iI_c20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zP6EZOy3jJ1c"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleUponMilestone" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,017,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in top up consideration. The top up consideration requires that within seven days after Genius Group files its tax return for the years 2022, 2023 and 2024, the
Company and the seller will review the total revenue for the respective years. If the amount of University of Antelope Valley total revenue
in 2022, 2023 and 2024 is an increase over $<span id="xdx_906_eifrs-full--Revenue_c20220705__20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zIeXVUnKprAf" title="Increase in revenue"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-07-052022-07-07_custom_UniversityOfAntelopeValleyMember_ifrs-full_BottomOfRangeMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,000,000</ix:nonFraction></span> or the subsequent year&#8217;s total revenue, then the Company shall pay to the seller
additional cash consideration in an amount equal to: (a) The 2022, 2023 or 2024 total revenue less the higher of either $<span id="xdx_900_eifrs-full--Revenue_c20220705__20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_z09yG1ZOyUZ9" title="Revenue"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-07-052022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,000,000</ix:nonFraction></span> or
the previous year&#8217;s total revenue, (b) multiplied by two, (collectively over the three year period). The consideration is
payable in cash. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options. University of Antelope Valley delivers its certification and degree programs to the
students who physically enroll at their location in Lancaster, California.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
University of Antelope Valley at acquisition.</span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_UniversityOfAntelopeValleyMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"><p id="xdx_89D_eifrs-full--DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_z0lFEBeT7wb9"><span id="xdx_8BA_zmva2Jc9zlr3" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE
OF THE ALLOCATION OF THE PURCHASE CONSIDERATION TO THE FAIR VALUE OF THE ASSETS AND LIABILITIES</span>&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" id="xdx_499_20220707__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zfMbJkSJA6Dl" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Purchase price</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_eifrs-full--EquityInterestsOfAcquirer_iI_zD3vUpY3fxid" style="vertical-align: bottom; background-color: White">
    <td style="width: 78%">Value of shares</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,470,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eifrs-full--CashTransferred_iI_ztu2XVTe9fZi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_z354gr59d1C5" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt">Top-up share options</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,017,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_409_ecustom--AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption_iI_zlHnVDAh8fm3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Total purchase price</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="GNS:AcquisitiondateFairValueOfTotalConsiderationTransferredIncludingStockOption" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,487,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_ecustom--AcquiredCashIncludingStockOption_iI_z3W8eoUXJL6h" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; text-align: left">Less: acquired cash</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="GNS:AcquiredCashIncludingStockOption" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,620,734</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr id="xdx_400_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_zbI2w5HXPD98" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Purchase price, net of acquired cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,866,266</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eifrs-full--FairValueOfAcquiredReceivables_iNI_di_z8rYJhRcyvQi" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Accounts receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:FairValueOfAcquiredReceivables" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,082,589</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_407_ecustom--AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets_iI_zIuiH5qlFezk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Prepaid expenses and other current assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="GNS:AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">492,404</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40C_eifrs-full--PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_iNI_di_zLq6Wp97KnJi" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fixed assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,051,934</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40F_eifrs-full--TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_iI_zprCYCRAtFEe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt; text-align: left">Accounts payable, accrued expenses and other liabilities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,935,533</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eifrs-full--GoodwillRecognisedAsOfAcquisitionDate_iI_zxRJyXfcY9aa" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1.5pt; font-weight: bold">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-07-07_custom_UniversityOfAntelopeValleyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,174,872</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8A5_zf4AiKmkmiRc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genius
Group Ltd.&#8217;s Acquisition of Revealed Films</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 4, 2022, Genius Group Ltd acquired <span id="xdx_906_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zRhRKUJ37wk6" title="Percentage of voting equity interests acquired"><ix:nonFraction name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>%
of the voting equity interest of Revealed Films for $<span id="xdx_900_eifrs-full--ContingentConsiderationRecognisedAsOfAcquisitionDate_iI_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zOPrj9xqw5n8" title="Purchase consideration"><ix:nonFraction name="ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,380,397</ix:nonFraction></span>
of purchase consideration, made up of <span id="xdx_90D_eifrs-full--NumberOfSharesIssued_iI_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zIZwdERBpDR2" title="Shares transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,353,966</ix:nonFraction></span>
of Genius Group Ltd ordinary shares for $<span id="xdx_900_eifrs-full--EquityInterestsOfAcquirer_iI_pn6n6_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_z9IjvUWekqL9" title="Consideration made up from shares"><ix:nonFraction name="ifrs-full:EquityInterestsOfAcquirer" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">7</ix:nonFraction></span>
million, $<span id="xdx_90D_eifrs-full--CashTransferred_iI_pn6n6_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_z7YtsB1biG3j" title="Cash transferred, acquisition-date fair value"><ix:nonFraction name="ifrs-full:CashTransferred" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">1</ix:nonFraction></span>
million in cash, $<span id="xdx_90A_ecustom--LoansTransferred_iI_pn6n6_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zita4aXAZvo9" title="Loans transferred, acquisition-date fair value"><ix:nonFraction name="GNS:LoansTransferred" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">2</ix:nonFraction></span>
million of loans payable and $<span id="xdx_907_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_ztZEGSGtuskb" title="Amount of consideration payble in call options"><ix:nonFraction name="GNS:AmountOfConsiderationPaybleInCallOptions" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,380,397</ix:nonFraction></span>
in top up consideration payable upon achieving the pre-agreed milestones. The loans payable of $<span id="xdx_901_eifrs-full--LoansPayableInDefault_iI_pn6n6_c20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zxU9iD4OVaV9" title="Loans payable"><ix:nonFraction name="ifrs-full:LoansPayableInDefault" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">2</ix:nonFraction></span> million was paid to the sellers during Q1 2023.
<span id="xdx_90B_ecustom--DescriptionOfAcquisition_c20221001__20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zNWKtSuZOt75" title="Description of acquisition"><ix:nonNumeric contextRef="From2022-10-012022-10-04_custom_RevealedFilmsMember" name="GNS:DescriptionOfAcquisition">The Company has agreed to pay top up consideration of 1.5X the difference between the revenue in 2023, 2024 and 2025 if the revenue growth
is higher than $7 million and a profit of at least 7%. The revenue growth is calculated as revenue during the year minus $7 million or
previous year&#8217;s revenue if the target was met.</ix:nonNumeric></span> The acquisition of Revealed Films occurred in the 4th
quarter of the year and the valuation will be reviewed and finalized by an independent third-party in the first half of 2023.
Revealed Films is a film production company based in Utah.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 167; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Revealed Films at acquisition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_RevealedFilmsMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"><p id="xdx_89B_eifrs-full--DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zBNRmc92EDS4"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zT1KHXjSitGa">SCHEDULE OF THE ALLOCATION OF THE PURCHASE CONSIDERATION
TO THE FAIR VALUE OF THE ASSETS AND LIABILITIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
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    <td style="font: bold 10pt Times New Roman, Times, Serif">Purchase price</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_eifrs-full--EquityInterestsOfAcquirer_iI_zJSn6Ph477C2" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_ecustom--DeferredTaxPaymentRecognisedAsOfAcquisitionDate_iI_zqM1jPl9JF43" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40C_ecustom--AmountOfConsiderationPaybleInCallOptions_iI_zPX53t3YoOm4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40B_ecustom--AcquiredCashIncludingStockOption_iI_z9r7F0lZaM" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">Less: acquired cash</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_400_eifrs-full--AcquisitiondateFairValueOfTotalConsiderationTransferred_iI_zfItFxL1Aihc" style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Purchase price, net of acquired cash</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
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  <tr id="xdx_40A_eifrs-full--FairValueOfAcquiredReceivables_iNI_di_zjF7Cimcqdtk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivable</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="ifrs-full:FairValueOfAcquiredReceivables" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">152,920</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr>
  <tr id="xdx_407_ecustom--AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets_iI_ztlS8su9KNQg" style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepaid expenses and other current assets</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="GNS:AcquisitiondateAsPrepaidExpensesAndOtherCurrentAssets" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">745,521</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr>
  <tr id="xdx_409_eifrs-full--Goodwill_iNI_di_zd8dBMh1f7e7" style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Goodwill</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,008,694</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,884,000</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr>
  <tr id="xdx_40F_eifrs-full--TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_iI_z0iFg4vg4TXb" style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable, accrued expenses and other liabilities</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><ix:nonFraction name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,660,727</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eifrs-full--DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_iI_zDynUj03gul7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">Deferred tax liability</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><p style="margin: 0"><ix:nonFraction name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,202,088</ix:nonFraction></p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eifrs-full--GoodwillRecognisedAsOfAcquisitionDate_iI_zc2CBkuJYB44" style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Goodwill</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><ix:nonFraction name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-10-04_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">13,306,545</ix:nonFraction></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8AF_z4dDkfJFMM9c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_RevealedFilmsMember" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory"><p id="xdx_89F_eifrs-full--DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_hifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zf1bThzQ2YGd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>The
acquired intangible assets are as follows</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z9ZdcinZu46" style="display: none">SCHEDULE
OF ACQUIRED INTANGIBLE ASSETS ACQUIRED</span></span>&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; border-collapse: collapse; width: 70%">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" id="xdx_497_20221004__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_zUSOaq4PMn24" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amount</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td></tr>
  <tr id="xdx_40E_eifrs-full--IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_iI_hifrs-full--ClassesOfIntangibleAssetsOtherThanGoodwillAxis__custom--CustomerRelationshipMember_zhdufLmrPtP" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 78%">Customer relationship</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A1_zXDeUdXiALdd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory"><p id="xdx_809_eifrs-full--DisclosureOfTradeAndOtherReceivablesExplanatory_znzrYGWtYnkd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="text-decoration: underline">NOTE 5 &#8212; <span id="xdx_82D_zoEpIyUjbYF4">OTHER RECEIVABLES</span></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfOtherReceivablesExplanatory"><p id="xdx_894_ecustom--DisclosureOfOtherReceivablesExplanatory_zYeV6q8b40gc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span id="xdx_8BF_zHC4CCaMso84" style="display: none">SCHEDULE OF OTHER RECEIVABLES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="font-weight: bold; text-align: center">&#160;</td><td style="text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td><td id="xdx_49A_20221231_zcz8ZEY59xBk" style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td><td id="xdx_490_20211231_zoq7KbJ4Og8e" style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eifrs-full--NoncurrentReceivablesDueFromAssociates_iI_maONRzzNs_zqKkGwJNCnZ1" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">PJ Finn</td><td>&#160;</td>
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  <tr id="xdx_40E_ecustom--NoncurrentReceivablesDueFromRelatedPartiesOne_iI_maONRzzNs_zaVxC3Yj3oBa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Richard Evans</td><td style="padding-bottom: 1.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><p id="xdx_8A7_zP5qnrCVoVZf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DueFromRelatedPartiesTextBlock"><p id="xdx_803_ecustom--DueFromRelatedPartiesTextBlock_z5DsIK1UYcy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due
from related parties as of December 31, 2022 and 2021 represents amounts receivable from related entities of
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<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory"><p id="xdx_892_eifrs-full--DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_zJ0lYuLhqTxl"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zSDbRw3RBOA6" style="display: none">SCHEDULE OF DUE FROM RELATED PARTIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40B_eifrs-full--TradeAndOtherCurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--OtherRelatedPartiesMember_zRC02habqe38" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_404_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--BMVFinanceMember_zzJ6Ww40Ahrg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_403_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--SimonZutshiDirectorsLoanAccountMember_zVLwfWmZnIme" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40F_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--BG3LtdMember_zwfnOetLKi0e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_404_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--ZutshiLPPMember_zLP3KhwNbiEl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40A_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--Vision1InvestmentsMember_z9xJMYV2hMed" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_405_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--CrowdPropertyLoanAccountMember_zyf1dCL0EDUa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40A_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_hifrs-full--CategoriesOfRelatedPartiesAxis__custom--PropertyMastermindInternationalMember_zQGxykJNx8hi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40E_eifrs-full--NoncurrentReceivablesDueFromRelatedParties_iI_z3c1vYdiQ9lf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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</ix:nonNumeric><p id="xdx_8A7_z8C5LLW5HlV7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 168; Options: NewSection; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></td></tr></table></div>
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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfInventoriesExplanatory"><p id="xdx_80E_eifrs-full--DisclosureOfInventoriesExplanatory_zoyijxOsMg37" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
7 &#8212; <span id="xdx_828_zUgSyrzBCz7">INVENTORIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, and 2021 inventories consist of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfInventoriesInformationExplanatory"><p id="xdx_890_ecustom--DisclosureOfInventoriesInformationExplanatory_zUWdv5WWGfs9"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zbSJBJwowy46" style="display: none">SCHEDULE OF INVENTORIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Merchandise" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">45,350</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Merchandise" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">51,777</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_407_ecustom--MaterialConsumables_iI_maIzgvP_zYugzcJ3tWOg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consumables</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:MaterialConsumables" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,116</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:MaterialConsumables" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,253</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40C_eifrs-full--Inventories_iI_mtIzgvP_zvT9KkJLvm5g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    inventories&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Inventories" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,001,977</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Inventories" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">92,530</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AD_zkwwcO2689Rb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfPrepaidExpensesAndOtherCurrentAssetsTextBlock"><p id="xdx_80B_ecustom--DisclosureOfPrepaidExpensesAndOtherCurrentAssetsTextBlock_z3f55nRnMqV2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
8 &#8212; <span id="xdx_824_zQ6xyB0E6tN">PREPAID EXPENSES AND OTHER CURRENT ASSETS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfDetailedInformationAboutPrepaidExpensesAndOtherAssetsExplanatoryTextBlock"><p id="xdx_897_ecustom--DisclosureOfDetailedInformationAboutPrepaidExpensesAndOtherAssetsExplanatoryTextBlock_zfhuy1Os8Aij" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, and 2021, prepaid expenses and other current assets consist of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zUl2Vjjuo3k7" style="display: none">SUMMARY OF PREPAID EXPENSES AND OTHER CURRENT ASSETS</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" id="xdx_49E_20221231_z25tJqPTK7Be" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" id="xdx_499_20211231_zbO23BSrc6O8" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    of December 31,</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
  <tr id="xdx_409_eifrs-full--CurrentPrepaidExpenses_iI_maCPAOCznHu_zplkqFOkJYXf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid
    expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentPrepaidExpenses" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">798,140</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentPrepaidExpenses" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,349,990</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eifrs-full--ShorttermDepositsNotClassifiedAsCashEquivalents_iI_maCPAOCznHu_z0FWjYUjxlZ" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposits</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ShorttermDepositsNotClassifiedAsCashEquivalents" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">165,868</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ShorttermDepositsNotClassifiedAsCashEquivalents" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">59,925</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--OtherCurrentFinancialAssets_iI_maCPAOCznHu_zvbEEskfgxcc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    current assets</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:OtherCurrentFinancialAssets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">126,779</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:OtherCurrentFinancialAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">80,531</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_407_eifrs-full--CurrentPrepaymentsAndOtherCurrentAssets_iI_mtCPAOCznHu_z7dTqoZlkwD4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,090,787</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,490,446</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
</ix:nonNumeric><p id="xdx_8AA_z8axNySUm4lj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory"><p id="xdx_80D_eifrs-full--DisclosureOfPropertyPlantAndEquipmentExplanatory_zGtNaXVbwkN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
9 &#8212; <span id="xdx_82E_zTmTyFydM9Ih">PROPERTY AND EQUIPMENT</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"><p id="xdx_89E_eifrs-full--DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_z0gmBiumXora" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment consist of the following as of December 31, 2022, and 2021:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span id="xdx_8B6_zarTjTK0vbal" style="display: none">SCHEDULE OF PROPERTY
AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_986_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--BuildingsMember_zyXhv3lAvY1k" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_BuildingsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,401,241</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td>
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    <td>)</td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>)</td>
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_980_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--AccumulatedDepreciationAndAmortisationMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zRCsTgBpxV5g" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31_ifrs-full_AccumulatedDepreciationAndAmortisationMember_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">385,473</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td id="xdx_982_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zwV2nmSJQH3a" title="Property, plant and equipment" style="text-align: right">(<ix:nonFraction name="GNS:PropertyPlantAndEquipmentImpairmentOnAssets" contextRef="AsOf2022-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">108,736</ix:nonFraction></td>
    <td>)</td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_984_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zTY823p8YK39" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">152,837</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_98D_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zlUMbsEUYsUh" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">537,964</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_987_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--AccumulatedDepreciationAndAmortisationMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zV9Voj4gKNrl" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_AccumulatedDepreciationAndAmortisationMember_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">330,476</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_984_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--FixturesAndFittingsMember_zbmHMbfBvGdh" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_FixturesAndFittingsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">207,488</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    vehicles</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td>&#160;</td>
    <td id="xdx_980_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--MotorVehiclesMember_zkZvuuxej2O5" title="Property, plant and equipment" style="text-align: right">(<ix:nonFraction name="GNS:PropertyPlantAndEquipmentImpairmentOnAssets" contextRef="AsOf2022-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_MotorVehiclesMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">12,808</ix:nonFraction></td>
    <td>)</td>
    <td>&#160;</td>
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    equipment</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td>&#160;</td>
    <td id="xdx_98E_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--OfficeEquipmentMember_zGv2LJZc8XHl" title="Property, plant and equipment" style="text-align: right">(<ix:nonFraction name="GNS:PropertyPlantAndEquipmentImpairmentOnAssets" contextRef="AsOf2022-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_OfficeEquipmentMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,975</ix:nonFraction></td>
    <td>)</td>
    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IT
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_988_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--AccumulatedDepreciationAndAmortisationMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_zU5h0qxzoWI3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31_ifrs-full_AccumulatedDepreciationAndAmortisationMember_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">113,795</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td id="xdx_988_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_z0f4Ddbjes15" title="Property, plant and equipment" style="text-align: right">(<ix:nonFraction name="GNS:PropertyPlantAndEquipmentImpairmentOnAssets" contextRef="AsOf2022-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,589</ix:nonFraction></td>
    <td>)</td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_98B_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_zqSZIGT9iWcj" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,716</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_980_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_zQzT6ZdTra23" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_GrossCarryingAmountMember_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">113,790</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_989_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--AccumulatedDepreciationAndAmortisationMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_zz5UArK1Jjhi" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_AccumulatedDepreciationAndAmortisationMember_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">88,274</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_984_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__ifrs-full--CommunicationAndNetworkEquipmentMember_zNaoBAb6ngk1" title="Property, plant and equipment" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_ifrs-full_CommunicationAndNetworkEquipmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,516</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="text-align: right"><span id="xdx_909_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ProgramsAndTextbooksMember_zMd06Evoim26"><span style="-sec-ix-hidden: xdx2ixbrl1233">&#8212;</span></span></td>
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    <td>&#160;</td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spa
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    <td id="xdx_98A_ecustom--PropertyPlantAndEquipmentImpairmentOnAssets_iI_c20221231__ifrs-full--CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis__ifrs-full--GrossCarryingAmountMember__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember_zsKjrOxv2VN2" title="Property, plant and equipment" style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="GNS:PropertyPlantAndEquipmentImpairmentOnAssets" contextRef="AsOf2022-12-31_ifrs-full_GrossCarryingAmountMember_custom_SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">45,274</ix:nonFraction></td>
    <td style="padding-bottom: 1.5pt">)</td>
    <td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_982_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember_zOUemILX5Vp5" title="Property, plant and equipment" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_custom_SpaEquipmentCurtainsCrockeryGlasswareAndLinenMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">58,508</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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</ix:nonNumeric><p id="xdx_8A7_zi49a6p88fdf" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reconciliation
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98A_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_c20210101__20211231_zVrWjHbLxAJd" title="Additions" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">77,797</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</ix:nonNumeric><p id="xdx_8A5_zIsKUOZxbHA5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 170; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfLeasesExplanatory"><p id="xdx_801_eifrs-full--DisclosureOfLeasesExplanatory_zshvOfcZ40V7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
10 &#8212; <span id="xdx_82B_zTmon1q8b9kg">RIGHT OF USE ASSET AND LEASE LIABILITY</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
carrying amounts of right-of-use assets</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory"><p id="xdx_89F_eifrs-full--DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_zJAH23tlXkc4" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
carrying amounts of right-of-use assets are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;<span id="xdx_8B2_zBSYF6fuOuN9" style="display: none">SCHEDULE OF CARRYING AMOUNTS OF RIGHT-OF-USE ASSETS</span></b></span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_408_eifrs-full--RightofuseAssets_iI_hifrs-full--ClassesOfAssetsAxis__ifrs-full--BuildingsMember_z7iuIsHQQH7a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

</ix:nonNumeric><p id="xdx_8A3_z9MaXHocnlVg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">During July 2022, the Company signed two
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Lease
liabilities</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory"><p id="xdx_898_eifrs-full--DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_zzGGVLYRhYVg" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
maturity analysis of lease liabilities is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;<span id="xdx_8B0_zxumS0XJnZbb" style="display: none">SCHEDULE OF MATURITY ANALYSIS OF LEASE LIABILITIES</span></b></span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td id="xdx_497_20221231_zxc9ZIVRndZb" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td id="xdx_490_20211231_zRewiSA3wLc2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

</ix:nonNumeric><p id="xdx_8A9_zTsqvaG859Di" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
weighted average discount rate utilized to calculate the present value of the lease liabilities was <span id="xdx_901_eifrs-full--WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_iI_pid_dp_uPure_c20221231_zJr0B5U25m9" title="Weighted average discount rate utilized to calculate the present value of the lease liabilities"><ix:nonFraction name="ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.71</ix:nonFraction></span>%. The average remaining life of the leases is <span id="xdx_903_ecustom--WeightedAverageRemainingLifeOfLease_dc_c20220101__20221231_z2BuZy0NTBxk" title="Weighted average remaining life of lease"><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" format="ixt-sec:durwordsen" name="GNS:WeightedAverageRemainingLifeOfLease">22 years</ix:nonNumeric></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 171; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfInvestmentPropertyExplanatory"><p id="xdx_80A_eifrs-full--DisclosureOfInvestmentPropertyExplanatory_ztaVmacM1x27" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
11 &#8212; <span><span id="xdx_823_zeSBC5rXn5v1">INVESTMENTS AT FAIR VALUE</span></span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory"><p id="xdx_89E_eifrs-full--DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory_zyixEcAY5nvj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022, and 2021, investments at fair value consist of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B5_zO9GwoOMEnC1" style="display: none">SCHEDULE
OF INVESTMENT AT FAIR VALUE</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_407_eifrs-full--InvestmentProperty_iI_hifrs-full--TypesOfInvestmentPropertyAxis__custom--InvestmentsInYouGoWorldMember_zCFUq3MS3eP8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments
    in YouGo World</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2022-12-31_custom_InvestmentsInYouGoWorldMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">28,698</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2021-12-31_custom_InvestmentsInYouGoWorldMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">28,698</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--InvestmentProperty_iI_hifrs-full--TypesOfInvestmentPropertyAxis__custom--OthersMember_zPjIBplO3HG9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Others</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2022-12-31_custom_OthersMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">373</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2021-12-31_custom_OthersMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">371</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_eifrs-full--InvestmentProperty_iI_ziCv7h3WNGY" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;Investment
    at fair value, Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,071</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:InvestmentProperty" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,069</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AC_z9ES4D404949" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September 11, 2017, the Company entered into an agreement to purchase a <span id="xdx_904_ecustom--PercentageOfInterestPurchaseFromInvestmentCompany_pid_dp_uPure_c20170910__20170911_zww3klQYdhT6" title="Percentage of interest purchase from investment company"><ix:nonFraction name="GNS:PercentageOfInterestPurchaseFromInvestmentCompany" contextRef="From2017-09-102017-09-11" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.5</ix:nonFraction></span>% interest in YouGo World ltd., a start-up company focusing
on mixed reality platforms, content, and services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfGoodwillExplanatory"><p id="xdx_804_eifrs-full--DisclosureOfGoodwillExplanatory_zllu5VAk4FJd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
12 &#8212; <span id="xdx_821_zyCNs3Zb6Mr1">GOODWILL</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory"><p id="xdx_89B_eifrs-full--DisclosureOfReconciliationOfChangesInGoodwillExplanatory_zCK3fR6rKr2j" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zXpxkqShO7T6">Changes
in goodwill are as follows during the years ended December 31, 2022 and 2021:</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BD_zLA6S08NEpT9" style="display: none">SCHEDULE
OF CHANGES IN GOODWILL</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 84%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    as of December 31, 2020</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_984_eifrs-full--Goodwill_iS_c20210101__20211231_zMBQKejPTXe4" title="Balance as of December 31, 2020" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,209,953</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions
    - Foreign currency translation</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_98B_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_c20210101__20211231_zSumoxzDQlrc" title="Additions - Foreign currency translation" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">110,147</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    as of December 31, 2021</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_98A_eifrs-full--Goodwill_iS_c20220101__20221231_zd9QSzLs4gIe" title="Balance as of December 31, 2020" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,320,100</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less:
    Foreign currency translation</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_981_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesGoodwill_c20220101__20221231_zCzHSh6NIy73" title="Additions - Foreign currency translation" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">113,150</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions
    - Goodwill on new acquisitions</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_98B_ecustom--GoodwillOnNewAcquisitions_c20220101__20221231_zVVEOAUClcsa" title="Additions - Goodwill on new acquisitions" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:GoodwillOnNewAcquisitions" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">50,399,733</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less:
    Impairment</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_989_eifrs-full--ImpairmentLossRecognisedInProfitOrLossGoodwill_iN_di_c20220101__20221231_zZEdGce4ijO8" title="Less: Impairment Loss" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,053,893</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><p style="margin: 0">Less: Goodwill tax adjustment</p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td title="Less: Impairment Loss" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><p id="xdx_984_eifrs-full--IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill_iN_di_c20220101__20221231_zmI0NC48tOab" title="Goodwill tax adjustment" style="margin: 0"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesGoodwill" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">136,097</ix:nonFraction></p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eifrs-full--Goodwill_iE_c20220101__20221231_zL7myIgQvwhk" title="Balance as of December 31, 2022" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">31,688,887</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

</ix:nonNumeric><p id="xdx_8AE_zIOPEPMeHKK4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill
is allocated to the Company&#8217;s cash-generating units. The recoverable amounts of these cash- generating units have been
determined based on value in use calculations. Other assumptions included in value in use calculations are closely linked to
entity-specific key performance indicators. Based on the discounted cash flows of the cash generating units, the Company wrote off
$<span id="xdx_90C_eifrs-full--Goodwill_iI_pn5n6_c20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--EntrepreneurResortsMember_zcYbAMIBjz6i" title="Wrote off goodwill"><ix:nonFraction name="ifrs-full:Goodwill" contextRef="AsOf2022-12-31_custom_EntrepreneurResortsMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">20.1</ix:nonFraction></span>
million as of December 31, 2022. The cash generating units impaired were Property Investors Network of $<span id="xdx_909_eifrs-full--ImpairmentLossRecognisedInProfitOrLossGoodwill_pn5n6_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--PropertyInvestorsNetworkMember_zp2OwIHpSmY6" title="Impairement of goodwill"><ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" contextRef="From2022-01-012022-12-31_custom_PropertyInvestorsNetworkMember5617953" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">5.8</ix:nonFraction></span>
million, University of Antelope Valley of $<span id="xdx_907_eifrs-full--ImpairmentLossRecognisedInProfitOrLossGoodwill_pn5n6_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--UniversityOfAntelopeValleyMember_zueleuYIgvj" title="Impairement of goodwill"><ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" contextRef="From2022-01-012022-12-31_custom_UniversityOfAntelopeValleyMember5617953" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">10.4</ix:nonFraction></span>
million, E-Squared Education of $<span id="xdx_90C_eifrs-full--ImpairmentLossRecognisedInProfitOrLossGoodwill_pn5n6_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--ESquaredEducationMember_zQaCsKlzE8i" title="Impairement of goodwill"><ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" contextRef="From2022-01-012022-12-31_custom_ESquaredEducationMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.3</ix:nonFraction></span>
million and Entrepreneurs Resort Ltd of $<span id="xdx_901_eifrs-full--ImpairmentLossRecognisedInProfitOrLossGoodwill_pn5n6_c20220101__20221231__ifrs-full--SignificantInvestmentsInSubsidiariesAxis__custom--EntrepreneursResortLtdMember_zQF2I0lrXxE5" title="Impairement of goodwill"><ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" contextRef="From2022-01-012022-12-31_custom_EntrepreneursResortLtdMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.6</ix:nonFraction></span>
million due to a decrease in the fair value of the subsidiary based on a discounted cash flow model. See Note 4 &#8212; Business
Combinations for additional details related to goodwill.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfIntangibleAssetsExplanatory"><p id="xdx_808_eifrs-full--DisclosureOfIntangibleAssetsExplanatory_z6kaoT6ecokc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
13 &#8212; <span id="xdx_82C_zC2KEU8iitD6">INTANGIBLE ASSETS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s intangible assets consist of costs incurred in connection with the development of the Company&#8217;s digital education
software platform, the acquisition of customer relationships and trademarks.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 84.05pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 84.05pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 172; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 84.05pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory"><p id="xdx_89A_eifrs-full--DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_zN4Gg3TCMOG6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
reconciliation of intangible assets for the years ended December 31, 2022 and 2021 are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BE_zkZa6yxYn648" style="display: none">SCHEDULE OF RECONCILIATION OF INTANGIBLE ASSETS</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    December 31, <br />
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_iN_di_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__custom--GeniusUSoftwarePlatformPlatformMember_zDJa7NLAS5r1" style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1682">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%">$</td>
    <td id="xdx_98E_eifrs-full--ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_iN_di_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__custom--GeniusUSoftwarePlatformPlatformMember_zE5jhX6Fc1Z2" style="text-align: right; width: 5%">(<ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_custom_GeniusUSoftwarePlatformPlatformMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,084,613</ix:nonFraction></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98C_eifrs-full--IntangibleAssetsAndGoodwill_iE_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__custom--GeniusUSoftwarePlatformPlatformMember_z7c4rhNQSMD4" title="Ending balance" style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IntangibleAssetsAndGoodwill" contextRef="AsOf2022-12-31_custom_GeniusUSoftwarePlatformPlatformMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,470,878</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_983_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__custom--TradeNamesTrademarksAndDomainNamesMember_z1blzH9TUXV7" title="Additions other than through business combinations, intangible assets other than goodwill" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1690">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_982_eifrs-full--AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_c20220101__20221231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__custom--TradeNamesTrademarksAndDomainNamesMember_zeDgePparfZ2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" contextRef="From2022-01-012022-12-31_custom_TradeNamesTrademarksAndDomainNamesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,919,356</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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                                            as<br />
                                            of<br />
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                         <br />
                         2020</b></span></p></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    Development<br />
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    of<br />
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_985_eifrs-full--IntangibleAssetsAndGoodwill_iE_c20210101__20211231__ifrs-full--ClassesOfIntangibleAssetsAndGoodwillAxis__ifrs-full--BrandNamesMember_zcqw5FAxIB27" title="Ending balance" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IntangibleAssetsAndGoodwill" contextRef="AsOf2021-12-31_ifrs-full_BrandNamesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">13,234</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
    amortization</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_983_eifrs-full--AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_c20210101__20211231_zlDwWKdmKe91" title="Software Development Additions" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">804,314</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_983_eifrs-full--AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_c20210101__20211231_zVmeX3ishuh9" title="Purchase of Intangibles" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1757">&#8212;</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_983_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_iN_di_c20210101__20211231_zXWZbA0JbKM3" title="Amortization Expense" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">424,080</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98F_eifrs-full--IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_c20210101__20211231_zxmO6VSKgDo3" title="Foreign Currency Translation" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,821</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_989_eifrs-full--IntangibleAssetsAndGoodwill_iE_c20210101__20211231_zyzwtrGDndc8" title="Ending balance" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:IntangibleAssetsAndGoodwill" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,394,969</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A2_zioRjlMdGU7k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2022 and 2021, the Company recorded amortization of intangible assets in the amount of $<span id="xdx_90E_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_c20220101__20221231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember_zs1uacfbod8h" title="Amortization of intangible assets"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_ifrs-full_CostOfSalesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">830,769</ix:nonFraction></span> and $<span id="xdx_901_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_c20210101__20211231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember_zXpvbw4XXxsf" title="Amortization of intangible assets"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2021-01-012021-12-31_ifrs-full_CostOfSalesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">424,080</ix:nonFraction></span>
respectively. The Company impaired $<span id="xdx_90A_eifrs-full--ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill_pn5n6_c20210101__20211231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember_zXbzsN4X9sD8" title="Impired of intangible assets"><ix:nonFraction name="ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" contextRef="From2021-01-012021-12-31_ifrs-full_CostOfSalesMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.1</ix:nonFraction></span> million of developed software at GeniusU due to a decrease in the fair value of the subsidiary
based on a discounted cash flow model.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual estimated total amortization expense is $<span id="xdx_905_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_pn5n6_c20220101__20221231__ifrs-full--MaturityAxis__custom--TwoThousandTwentyThreeMember_ztSPxAVBlwn2" title="Amorization expense"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_custom_TwoThousandTwentyThreeMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.5</ix:nonFraction></span> million, $<span id="xdx_905_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_pn4n6_c20220101__20221231__ifrs-full--MaturityAxis__custom--TwoThousandTwentyFourMember_zYYGyO7SZ7v9" title="Amorization expense"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_custom_TwoThousandTwentyFourMember" format="ixt:numdotdecimal" decimals="-4" scale="6" unitRef="USD">1.42</ix:nonFraction></span> million, $<span id="xdx_90B_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_pn4n6_c20220101__20221231__ifrs-full--MaturityAxis__custom--TwoThousandTwentyFiveMember_zNCJDp8wU87e" title="Amorization expense"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_custom_TwoThousandTwentyFiveMember" format="ixt:numdotdecimal" decimals="-4" scale="6" unitRef="USD">1.33</ix:nonFraction></span> million for 2023 through 2025 and $<span id="xdx_900_eifrs-full--AmortisationIntangibleAssetsOtherThanGoodwill_pn4n6_c20220101__20221231__ifrs-full--MaturityAxis__custom--TwoThousandTwentyFiveThereafterMember_z0ihZA2KwG13" title="Amorization expense"><ix:nonFraction name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" contextRef="From2022-01-012022-12-31_custom_TwoThousandTwentyFiveThereafterMember" format="ixt:numdotdecimal" decimals="-4" scale="6" unitRef="USD">12.93</ix:nonFraction></span> million thereafter.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 173; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDeferredTaxesExplanatory"><p id="xdx_806_eifrs-full--DisclosureOfDeferredTaxesExplanatory_zW96FK5RbYBc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
14 &#8212; <span id="xdx_824_zoYoZRrvCE81">DEFERRED TAX ASSETS AND LIABILITIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfDetailedInformationAboutDeferredTaxAssetsAndLiabilitiesExplanatory"><p id="xdx_894_ecustom--DisclosureOfDetailedInformationAboutDeferredTaxAssetsAndLiabilitiesExplanatory_zhBANOCdXi81" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
tax assets and (liabilities) as of December 31, 2022 and 2021 and the related activity for the years ended December 31, 2022 and 2021
are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span><span id="xdx_8BF_zeoNu55AUQ5g" style="display: none">SUMMARY OF DEFERRED TAX ASSETS AND LIABILITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    as of<br />
    December 31,<br />
    2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recognized
    in<br />
    Business<br />
    Combination</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recognized
    in<br />
    Provision for<br />
    Income Taxes</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    as of<br />
    December 31,<br />
    2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current
    assets:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 36%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible
    Assets</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eifrs-full--DeferredTaxLiabilityAsset_iS_c20220101__20221231__custom--IfrsBalanceSheetLocationAxis__custom--IntangibleAssetsMember_z5M3oDLF1Yf2" title="Deferred tax liability (asset)" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1783">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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</ix:nonNumeric><p id="xdx_8AA_z99AAPk77q82" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 174; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory"><p id="xdx_89E_eifrs-full--DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory_zurl99ahwF7h" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unused
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span id="xdx_8BD_zQSWiEtMOCPi" style="display: none">SUMMARY OF UNUSED TAX LOSSES FOR WHICH NO DEFERRED TAX ASSETS HAVE BEEN RECOGNIZED</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_49B_20221231_z9F44uf6Jb67" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_493_20211231_zPHk0xdZQll" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td colspan="5" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_406_eifrs-full--DeferredTaxAssets_iNI_di_hifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxLossesMember_z8iVMR2qAj66" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unused
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:DeferredTaxAssets" contextRef="AsOf2021-12-31_ifrs-full_UnusedTaxLossesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,982,291</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_406_eifrs-full--DeferredTaxAssets_iNI_di_hifrs-full--TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis__ifrs-full--UnusedTaxCreditsMember_zrIpSdizlQwj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potential
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:DeferredTaxAssets" contextRef="AsOf2022-12-31_ifrs-full_UnusedTaxCreditsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,338,526</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:DeferredTaxAssets" contextRef="AsOf2021-12-31_ifrs-full_UnusedTaxCreditsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,050,255</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unused tax losses </span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:DeferredTaxAssets" contextRef="AsOf2021-12-31_ifrs-full_UnusedTaxCreditsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,050,255</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
</table>


</ix:nonNumeric><p id="xdx_8A6_zKZ9b41dFOid" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
has evaluated and concluded that there were <span id="xdx_903_ecustom--UncertainTaxPositions_iI_do_c20221231_zhjiY0em5Jxe" title="Uncertain tax positions"><span id="xdx_902_ecustom--UncertainTaxPositions_iI_do_c20211231_zMpEaaPclt08" title="Uncertain tax positions"><ix:nonFraction name="GNS:UncertainTaxPositions" contextRef="AsOf2022-12-31" format="ixt-sec:numwordsen" decimals="0" unitRef="USD"><ix:nonFraction name="GNS:UncertainTaxPositions" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="0" unitRef="USD">no</ix:nonFraction></ix:nonFraction></span></span> material uncertain tax positions requiring recognition in the Company&#8217;s financial
statements as of December 31, 2022 and 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
tax audits were commenced or were in process during the years ended December 31, 2022 and 2021 and <span id="xdx_907_ecustom--TaxRelatedInterestOrPenalties_iI_do_c20221231_zCFhiUucU0hj" title="Tax related interest or penalties"><span id="xdx_90C_ecustom--TaxRelatedInterestOrPenalties_iI_do_c20211231_z6lK8VUd9zP5" title="Tax related interest or penalties"><ix:nonFraction name="GNS:TaxRelatedInterestOrPenalties" contextRef="AsOf2022-12-31" format="ixt-sec:numwordsen" decimals="0" unitRef="USD"><ix:nonFraction name="GNS:TaxRelatedInterestOrPenalties" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="0" unitRef="USD">no</ix:nonFraction></ix:nonFraction></span></span> tax related interest or penalties
were incurred during those years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfJurisdictionsAndTaxYearsExplanatory"><p id="xdx_898_ecustom--DisclosureOfJurisdictionsAndTaxYearsExplanatory_z8ITQjAnShjg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following jurisdictions and tax years are open to audit:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span id="xdx_8B8_zxtf8qVBP93" style="display: none">SUMMARY OF JURISDICTIONS AND TAX YEARS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 49%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jurisdiction</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 49%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Open
    Tax Years</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indonesia</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--IndonesiaCountryMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zHJYtfoGXk3f" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_IndonesiaCountryMember_ifrs-full_BottomOfRangeMember" name="GNS:OpenTaxYears">2018</ix:nonNumeric></span>
    - <span id="xdx_906_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--IndonesiaCountryMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zHsROHT1gPm7" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_IndonesiaCountryMember_ifrs-full_TopOfRangeMember" name="GNS:OpenTaxYears">2022</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Zealand</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--NewZealandCountryMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zP7dfSWEA82i" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_NewZealandCountryMember_ifrs-full_BottomOfRangeMember" name="GNS:OpenTaxYears">2019</ix:nonNumeric></span>
    - <span id="xdx_908_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--NewZealandCountryMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zQReeqIi5Lc3" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_NewZealandCountryMember_ifrs-full_TopOfRangeMember" name="GNS:OpenTaxYears">2022</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--SingaporeCountryMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_z8LfUdfwSK6c" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_SingaporeCountryMember_ifrs-full_BottomOfRangeMember" name="GNS:OpenTaxYears">2019</ix:nonNumeric></span>
    - <span id="xdx_905_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--SingaporeCountryMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zMZeFx0u2jHd" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_SingaporeCountryMember_ifrs-full_TopOfRangeMember" name="GNS:OpenTaxYears">2022</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Africa</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--SouthAfricaCountryMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zDAV8FvfCoC2" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_SouthAfricaCountryMember_ifrs-full_BottomOfRangeMember" name="GNS:OpenTaxYears">2018</ix:nonNumeric></span>
    - <span id="xdx_908_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--SouthAfricaCountryMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zzR2XwOMGR2a" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_SouthAfricaCountryMember_ifrs-full_TopOfRangeMember" name="GNS:OpenTaxYears">2022</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">United
    Kingdom</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--UKCountryMember_zJosbBrn7rB6" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_UKCountryMember" name="GNS:OpenTaxYears">2021</ix:nonNumeric></span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">United
    States</span></td>
    <td>&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--USACountryMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zYEwfDeFUCNc" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_USACountryMember_ifrs-full_BottomOfRangeMember" name="GNS:OpenTaxYears">2020</ix:nonNumeric></span>
    - <span id="xdx_902_ecustom--OpenTaxYears_c20220101__20221231__ifrs-full--GeographicalAreasAxis__custom--USACountryMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_zVAYWUqtwTU5" title="Open tax years"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_USACountryMember_ifrs-full_TopOfRangeMember" name="GNS:OpenTaxYears">2022</ix:nonNumeric></span></span></td></tr>
  </table>
</ix:nonNumeric><p id="xdx_8AF_zlKgPYMOUNIi" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory"><p id="xdx_80D_eifrs-full--DisclosureOfOtherNoncurrentAssetsExplanatory_zC2flHBFpoug" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
15 &#8212; <span id="xdx_82D_z069siyk2IT4">OTHER NON-CURRENT ASSETS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022 and 2021, other non-current assets were $<span id="xdx_906_eifrs-full--OtherNoncurrentAssets_iI_c20221231_zaL6DwtIUSo2" title="Other non current assets"><ix:nonFraction name="ifrs-full:OtherNoncurrentAssets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">26,108</ix:nonFraction></span> and $<span id="xdx_90D_eifrs-full--OtherNoncurrentAssets_iI_c20211231_zEexlD6DAn01" title="Other non-current assets"><ix:nonFraction name="ifrs-full:OtherNoncurrentAssets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">501,750</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory"><p id="xdx_802_eifrs-full--DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_z6u936rlbCFe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
16 &#8212; <span id="xdx_829_zPpDrqymgc2g">ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfAccruedExpensesAndOtherLiabilitiesCurrentTableTextBlock"><p id="xdx_892_ecustom--ScheduleOfAccruedExpensesAndOtherLiabilitiesCurrentTableTextBlock_zvv9BVnL1Ln7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022 and 2021, accrued expenses and other current liabilities consist of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zzSwCClinWSg" style="display: none">SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</span>&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_497_20221231_zF90t0G2dInj" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_492_20211231_zxbhPjUydzVg" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued
    expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:CurrentAccruedExpenses" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,539,791</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:CurrentAccruedExpenses" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">390,138</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--OtherCurrentLiabilities_iI_maCAEAOz1OH_zE7WAr8YZ6q3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sundry
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</ix:nonNumeric><p id="xdx_8A0_zw1jyEs6oYrh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
North West Parks Board accrual represents the amounts owed related to the Company&#8217;s Tau Game Lodge. The amount owed is related to turnover fees, concession fees and interest payable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDeferredIncomeExplanatory"><p id="xdx_80D_eifrs-full--DisclosureOfDeferredIncomeExplanatory_zsO45junDBSc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
17 &#8212; <span id="xdx_828_zus7YLBbJSii">DEFERRED REVENUE</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfDeferredRevenueTableTextBlock"><p id="xdx_896_ecustom--ScheduleOfDeferredRevenueTableTextBlock_zC1BBcAW3Srl" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BA_zhCoDKBxsJxi" style="display: none">SUMMARY OF DEFERRED REVENUE</span></span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_49B_20221231_zU6s0fhU6Rsd" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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</ix:nonNumeric><p id="xdx_8AA_z5USqfLf7DL2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

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the years ended December 31, 2022 and 2021 are as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;<span id="xdx_8B8_z6yodkMbTFl4" style="display: none">SCHEDULE
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom">
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    <td style="width: 68%; text-align: left">Deferred revenue, beginning balance</td><td style="width: 2%">&#160;</td>
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  <tr id="xdx_40C_ecustom--DeferredRevenueAddition_zb0RQYM6FXt3" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40D_eifrs-full--ContractLiabilities_iE_zCjfZLhhykPd" style="vertical-align: bottom; background-color: White">
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p>

</ix:nonNumeric><p id="xdx_8AA_zvui7qkg0Iia" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfBorrowingsExplanatory"><p id="xdx_80A_eifrs-full--DisclosureOfBorrowingsExplanatory_zfMRXeznklt1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
18 &#8212; <span id="xdx_820_zF9bJGV3BIld">LOANS PAYABLE</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory"><p id="xdx_894_eifrs-full--DisclosureOfDetailedInformationAboutBorrowingsExplanatory_zu12F82fpH1g" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022 and 2021, loans payable consisted of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B3_z2G5Vhv2ENm1" style="display: none">SUMMARY OF LOANS PAYABLE</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_491_20221231_z16KObEwDDQ5" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_49B_20211231_zY10gaQHCJL5" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
    payable &#8211; non-current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:LongtermBorrowings" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">428,025</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</ix:nonNumeric><p id="xdx_8A3_zC1Aeq3VJJfi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 175; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
September of 2019, the Company obtained lines of credit in the aggregate amount of S$<span id="xdx_90B_eifrs-full--NotionalAmount_iI_uSGD_c20190930__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zcyWPltmqu3g" title="Notional amount"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="SGD">400,000</ix:nonFraction></span> (approximately $<span id="xdx_903_eifrs-full--NotionalAmount_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zKbN7Lz1ijGf" title="Aggregate amount of loan"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">296,912</ix:nonFraction></span> at the 2019 exchange
rate) for working capital and business expansions requirements in Wealth Dynamics Pte Ltd, which the Company drew down on in full. Loans
in the amount of S$<span id="xdx_90B_eifrs-full--NotionalAmount_iI_uSGD_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_zIcjepapBSca" title="Notional amount"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="SGD">100,000</ix:nonFraction></span> (approximately $<span id="xdx_907_eifrs-full--NotionalAmount_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_z19fimKrWfoh" title="Aggregate amount of loan"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">74,228</ix:nonFraction></span> at the 2019 exchange rate) shall be repaid over <span id="xdx_901_ecustom--BorrowingsNumberOfMonthlyInstallments_dtM_c20190901__20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_z5YWUSOZDZQ5" title="Number of monthly installments"><ix:nonNumeric contextRef="From2019-09-012019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt-sec:durmonth" name="GNS:BorrowingsNumberOfMonthlyInstallments">36</ix:nonNumeric></span> monthly installments including both
principal and the respective accrued interest. Interest on such principal shall bear at a rate of <span id="xdx_90E_eifrs-full--BorrowingsInterestRate_iI_pid_dp_uPure_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_zOiSFepaLQM7" title="Interest rate"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">8</ix:nonFraction></span>% per annum plus a margin of <span id="xdx_905_eifrs-full--BorrowingsAdjustmentToInterestRateBasis_iI_pid_dp_uPure_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_z5ZysZyn8dI3" title="Margin percentage"><ix:nonFraction name="ifrs-full:BorrowingsAdjustmentToInterestRateBasis" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.88</ix:nonFraction></span>%,
subject to adjustment. The Company has the option to prepay the loan before its maturity date, subject to a fee of <span id="xdx_90B_ecustom--BorrowingsPrepaymentsFeePercentage_pid_dp_uPure_c20190901__20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver36MonthlyInstallmentsMember_zoBjtv3Q6an8" title="Prepayments fee percentage"><ix:nonFraction name="GNS:BorrowingsPrepaymentsFeePercentage" contextRef="From2019-09-012019-09-30_custom_LineOfCreditRepayableOver36MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6.88</ix:nonFraction></span>% if paid within
twelve months from the drawdown date. Loans in the amount of S$<span id="xdx_909_eifrs-full--NotionalAmount_iI_uSGD_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver60MonthlyInstallmentsMember_zijkHnCsjo89" title="Notional amount"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver60MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="SGD">300,000</ix:nonFraction></span> (approximately $<span id="xdx_902_eifrs-full--NotionalAmount_iI_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver60MonthlyInstallmentsMember_zq3QJNPeSPd" title="Notional amount"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver60MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">222,684</ix:nonFraction></span> at the 2019 exchange rate) shall be repaid
over <span id="xdx_903_ecustom--BorrowingsNumberOfMonthlyInstallments_dtM_c20190901__20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver60MonthlyInstallmentsMember_z6ywbzJAkRWf" title="Number of monthly installments"><ix:nonNumeric contextRef="From2019-09-012019-09-30_custom_LineOfCreditRepayableOver60MonthlyInstallmentsMember" format="ixt-sec:durmonth" name="GNS:BorrowingsNumberOfMonthlyInstallments">60</ix:nonNumeric></span> monthly installments including both principal and the respective accrued interest. Interest on such principal shall bear at a
rate of <span id="xdx_901_eifrs-full--BorrowingsInterestRate_iI_pid_dp_uPure_c20190930__ifrs-full--BorrowingsByNameAxis__custom--LineOfCreditRepayableOver60MonthlyInstallmentsMember_zG9TWiS4MPm5" title="Interest rate"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2019-09-30_custom_LineOfCreditRepayableOver60MonthlyInstallmentsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6.25</ix:nonFraction></span>% per annum, subject to adjustment. The loans are secured by personal guarantees of the Director. During the year ended December
31, 2022, the Company repaid an aggregate of S$<span id="xdx_903_eifrs-full--RepaymentsOfBorrowingsClassifiedAsFinancingActivities_uSGD_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zOAzLAp4Oby" title="Repayments of borrowings, classified as financing activities"><ix:nonFraction name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" contextRef="From2022-01-012022-12-31_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="SGD">98,589</ix:nonFraction></span>, approximately $<span id="xdx_906_eifrs-full--RepaymentsOfBorrowingsClassifiedAsFinancingActivities_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zG0RB5qSgWJb" title="Repayments of borrowings, classified as financing activities"><ix:nonFraction name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" contextRef="From2022-01-012022-12-31_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">72,492</ix:nonFraction></span> at the 2022 exchange rate (2021 &#8212; S$<span id="xdx_90D_eifrs-full--RepaymentsOfBorrowingsClassifiedAsFinancingActivities_uSGD_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zYcVhsPsrCgh" title="Repayment of principal and accrued interest"><ix:nonFraction name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" contextRef="From2021-01-012021-12-31_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="SGD">91,063</ix:nonFraction></span> approximately
$<span id="xdx_901_eifrs-full--RepaymentsOfBorrowingsClassifiedAsFinancingActivities_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--IfrsLineOfCreditMember_zulmnzdnSV77" title="Repayment of principal and accrued interest"><ix:nonFraction name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" contextRef="From2021-01-012021-12-31_custom_IfrsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">67,220</ix:nonFraction></span> at the 2021 exchange rate) of principal plus the respective accrued interest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDebtSecuritiesExplanatory"><p id="xdx_890_eifrs-full--DisclosureOfDebtSecuritiesExplanatory_zsussy7pjk25" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The loans are secured by the guarantees of the Director and do not have
covenant clauses. The outstanding principal as of December 31,
2022 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zVtTUAng1rfk" style="display: none">SCHEDULE
OF LINE OF CREDIT FOR WORKING CAPITAL REQUIREMENT </span> &#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    Type</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Start
    Date</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_480_eifrs-full--NotionalAmount_iI_zNnbUMBVEAx" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    Amount</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tenure</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_48A_eifrs-full--BorrowingsInterestRate_iI_pid_dp_zp5GYHc6qtr" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    Rate</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_486_eifrs-full--Borrowings_iI_zw6rhym2XYxa" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding
    as<br />
    of December 31,<br />
    2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_41A_20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--IRDLoanMember__ifrs-full--BorrowingsByNameAxis__custom--EducationAngelsLineOfCreditMember_zpfnwL4SOTc9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IRD
    Loan</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2022-12-31_custom_IRDLoanMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,063</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--BorrowingsNumberOfMonthlyInstallments_dtM_c20220101__20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--IRDLoanMember__ifrs-full--BorrowingsByNameAxis__custom--EducationAngelsLineOfCreditMember_zb1FAd4EyrTi" title="Tensure"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_IRDLoanMember_custom_EducationAngelsLineOfCreditMember" format="ixt-sec:durmonth" name="GNS:BorrowingsNumberOfMonthlyInstallments">60</ix:nonNumeric></span>
                                            Months</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2022-12-31_custom_IRDLoanMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.25</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Borrowings" contextRef="AsOf2022-12-31_custom_IRDLoanMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,900</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_41D_20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--JukeNWNSevenHundredSixtyFiveMember__ifrs-full--BorrowingsByNameAxis__custom--EducationAngelsLineOfCreditMember_zOoDcjxQEpec" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Juke
    NWN765</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td id="xdx_987_ecustom--BorrowingsStartDate_c20220101__20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--JukeNWNSevenHundredSixtyFiveMember__ifrs-full--BorrowingsByNameAxis__custom--EducationAngelsLineOfCreditMember_z7DFtiGsPyij" title="Start Date" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_JukeNWNSevenHundredSixtyFiveMember_custom_EducationAngelsLineOfCreditMember" name="GNS:BorrowingsStartDate">2021</ix:nonNumeric></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2022-12-31_custom_JukeNWNSevenHundredSixtyFiveMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">19,679</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--BorrowingsNumberOfMonthlyInstallments_dtM_c20220101__20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--JukeNWNSevenHundredSixtyFiveMember__ifrs-full--BorrowingsByNameAxis__custom--EducationAngelsLineOfCreditMember_z6trPSMtmoOf" title="Tensure"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_JukeNWNSevenHundredSixtyFiveMember_custom_EducationAngelsLineOfCreditMember" format="ixt-sec:durmonth" name="GNS:BorrowingsNumberOfMonthlyInstallments">36</ix:nonNumeric></span>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2022-12-31_custom_JukeNWNSevenHundredSixtyFiveMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.30</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    NWN766</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Borrowings" contextRef="AsOf2022-12-31_custom_QashqaiNWNSevenHundredSixtySixMember_custom_EducationAngelsLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">14,475</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.8pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mastermind
Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The loans are secured by the guarantees of the Director and do not have
covenant clauses. The outstanding
principal amount as of December 31, 2022 is as follows &#8211;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    as<br />
    of December 31,<br />
    2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--BorrowingsStartDate_c20220101__20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--LloydsCBILMember__ifrs-full--BorrowingsByNameAxis__custom--MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember_zB7y6qVARdm5" title="Borrowings start date"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_LloydsCBILMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" name="GNS:BorrowingsStartDate">2020</ix:nonNumeric></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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                                            Months</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2022-12-31_custom_LloydsCBILMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.80</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Funding
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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                                            Months</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2022-12-31_custom_TheFundingCircleMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">9.30</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Borrowings" contextRef="AsOf2022-12-31_custom_TheFundingCircleMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">93,193</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_417_20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--LloydsBouncebackLoanMember__ifrs-full--BorrowingsByNameAxis__custom--MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember_zDMtfuFxHxta" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lloyds
    Bounceback Loan</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--BorrowingsNumberOfMonthlyInstallments_dtM_c20220101__20221231__ifrs-full--ClassesOfFinancialInstrumentsAxis__custom--LloydsBouncebackLoanMember__ifrs-full--BorrowingsByNameAxis__custom--MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember_zaSHqxDAEYh7" title="Tensure"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_LloydsBouncebackLoanMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt-sec:durmonth" name="GNS:BorrowingsNumberOfMonthlyInstallments">72</ix:nonNumeric></span>
                                            Months</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:BorrowingsInterestRate" contextRef="AsOf2022-12-31_custom_LloydsBouncebackLoanMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.50</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Borrowings" contextRef="AsOf2022-12-31_custom_LloydsBouncebackLoanMember_custom_MastermindPrinciplesAndPropertyInvestorsNetworkLineOfCreditMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">41,335</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AB_zz6yonT9y0Fe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual estimated total principal repayments are $<span id="xdx_909_ecustom--AnnualEstimatedTotalPrincipalRepayments_iI_c20221231__ifrs-full--MaturityAxis__ifrs-full--NotLaterThanOneYearMember_zUuVM3ANWH4l" title="Annual estimated total principal repayments"><ix:nonFraction name="GNS:AnnualEstimatedTotalPrincipalRepayments" contextRef="AsOf2022-12-31_ifrs-full_NotLaterThanOneYearMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">361,019</ix:nonFraction></span> in 2023, $<span id="xdx_905_ecustom--AnnualEstimatedTotalPrincipalRepayments_iI_c20221231__ifrs-full--MaturityAxis__ifrs-full--LaterThanOneYearAndNotLaterThanTwoYearsMember_ztahw62cRuei" title="Annual estimated total principal repayments"><ix:nonFraction name="GNS:AnnualEstimatedTotalPrincipalRepayments" contextRef="AsOf2022-12-31_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">237,970</ix:nonFraction></span>
in 2024, $<span id="xdx_901_ecustom--AnnualEstimatedTotalPrincipalRepayments_iI_c20221231__ifrs-full--MaturityAxis__ifrs-full--LaterThanTwoYearsAndNotLaterThanThreeYearsMember_zylUi4GQ1Zsj" title="Annual estimated total principal repayments"><ix:nonFraction name="GNS:AnnualEstimatedTotalPrincipalRepayments" contextRef="AsOf2022-12-31_ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">146,893</ix:nonFraction></span> in 2025, $<span id="xdx_90E_ecustom--AnnualEstimatedTotalPrincipalRepayments_iI_c20221231__ifrs-full--MaturityAxis__ifrs-full--LaterThanThreeYearsAndNotLaterThanFourYearsMember_zMvqk2bgjAZ7" title="Annual estimated total principal repayments"><ix:nonFraction name="GNS:AnnualEstimatedTotalPrincipalRepayments" contextRef="AsOf2022-12-31_ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,267</ix:nonFraction></span> in 2026 and $<span id="xdx_908_ecustom--AnnualEstimatedTotalPrincipalRepayments_iI_c20221231__ifrs-full--MaturityAxis__ifrs-full--LaterThanFourYearsAndNotLaterThanFiveYearsMember_zBmfiAIhOM28" title="Annual estimated total principal repayments"><ix:nonFraction name="GNS:AnnualEstimatedTotalPrincipalRepayments" contextRef="AsOf2022-12-31_ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,267</ix:nonFraction></span> in 2027.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 176; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfBorrowingsRelatedPartyTransactionExplanatory"><p id="xdx_80F_ecustom--DisclosureOfBorrowingsRelatedPartyTransactionExplanatory_zA3g70uhK96i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
19 &#8212; <span id="xdx_821_z8QUkG2LeDKd">LOANS PAYABLE &#8212; RELATED PARTIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfBorrowingsRelatedPartyTransactionExplanatory"><p id="xdx_891_ecustom--ScheduleOfBorrowingsRelatedPartyTransactionExplanatory_zFdvRTSygvBe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
from related parties as of December 31, 2022 and 2021 consist of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B4_zpYxcXk3U8R" style="display: none">SCHEDULE OF LOANS FROM RELATED PARTIES</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 396.9pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: center; padding-bottom: 1.5pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">&#160;</td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_409_ecustom--AmountsPayableCurrentRelatedPartyTransactions_iI_hifrs-full--BorrowingsByNameAxis__custom--LoanPayableToRelatedPartiesForAcquisitionOfWealthDynamicsMember_zAmOnXLlGtL1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
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  <tr id="xdx_404_ecustom--AmountsPayableNonCurrentRelatedPartyTransactions_iI_hifrs-full--BorrowingsByNameAxis__custom--LoanPayableToRelatedPartiesForAcquisitionOfWealthDynamicsMember_zeCMs8O3Wce8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current
    portion.</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2139">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_hifrs-full--BorrowingsByNameAxis__custom--LoanPayableToRelatedPartiesForAcquisitionOfWealthDynamicsMember_z2HOVoOyZP6d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subtotal</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2141">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2021-12-31_custom_LoanPayableToRelatedPartiesForAcquisitionOfWealthDynamicsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">425,551</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40F_ecustom--AmountsPayableCurrentRelatedPartyTransactions_iI_hifrs-full--BorrowingsByNameAxis__custom--OtherLoansPayableToRelatedPartiesMember_zZ0PqIcfem8j" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    loans payable to related parties, current</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AmountsPayableCurrentRelatedPartyTransactions" contextRef="AsOf2022-12-31_custom_OtherLoansPayableToRelatedPartiesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,932,090</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2145">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_408_eifrs-full--NoncurrentPayablesToRelatedParties_iI_hifrs-full--BorrowingsByNameAxis__custom--OtherLoansPayableToRelatedPartiesMember_z9fEjDcHyX1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    loans payable to related parties, non-current</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentPayablesToRelatedParties" contextRef="AsOf2022-12-31_custom_OtherLoansPayableToRelatedPartiesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,729</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2148">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_zP3Gw4VOjauc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    loans payable to related parties</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,933,819</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">425,551</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8AF_zSNVfqEA5VO6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loan payable to related party for the acquisition of Revealed Films is non-interest bearing with $<span id="xdx_909_eifrs-full--NotionalAmount_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--RevealedFilmsMember__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember_zBeOiBe2OgH2" title="Aggregate amount of loan"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2022-12-31_custom_RevealedFilmsMember_ifrs-full_RelatedPartiesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,000,000</ix:nonFraction></span> payable on or before March
31, 2023. The loan is payable to the previous shareholder of Revealed Films. This loan was paid in full during March 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.9pt 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loan payable to related party for the acquisition of E-Squared Education Enterprises Pty Ltd is non-interest bearing with ZAR <span id="xdx_903_eifrs-full--NotionalAmount_iI_uZAR_c20221130__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember__ifrs-full--BorrowingsByNameAxis__custom--ESquaredEducationEnterprisesPtyLtdMember_zV4zDFTOTDWf" title="Non-interest bearing payable"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2022-11-30_ifrs-full_RelatedPartiesMember_custom_ESquaredEducationEnterprisesPtyLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="ZAR">3,600,000</ix:nonFraction></span>
(Approximately $<span id="xdx_903_eifrs-full--NotionalAmount_iI_c20221130__ifrs-full--CategoriesOfRelatedPartiesAxis__ifrs-full--RelatedPartiesMember__ifrs-full--BorrowingsByNameAxis__custom--ESquaredEducationEnterprisesPtyLtdMember_zdR3r8N52evb" title="Non-interest bearing payable"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2022-11-30_ifrs-full_RelatedPartiesMember_custom_ESquaredEducationEnterprisesPtyLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">299,231</ix:nonFraction></span>) payable on or before Nov 30, 2022. Company has agreed to repay the same in Q1 2023 and the loan was repaid in
March, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.9pt 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loan payable to the pre-acquisition owners of Revealed Films of $<span id="xdx_90E_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--RevealedFilmsMember_ztIJgt1zirZg"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2022-12-31_custom_RevealedFilmsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">500,000</ix:nonFraction></span>
is non-interest bearing and is due to the operational funding by the owner of $<span id="xdx_90E_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20221231__ifrs-full--CounterpartiesAxis__custom--JeffHaysMember_zOHqa3bO03m4"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2022-12-31_custom_JeffHaysMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>
by Jeff Hays and $<span id="xdx_904_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20221231__ifrs-full--CounterpartiesAxis__custom--PatrickGentempoMember_z9Z3OcjQdMij" title="Amounts payable, related party transactions"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2022-12-31_custom_PatrickGentempoMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>
by Patrick Gentempo in accordance with the acquisition agreement to continue the operations of Revealed Films and to assist with
financing the company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.9pt 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
loan payable to related parties for the acquisition of Entrepreneurs Institute is non-interest bearing, with $<span id="xdx_906_eifrs-full--AmountsPayableRelatedPartyTransactions_iI_c20221231__ifrs-full--CounterpartiesAxis__custom--EntrepreneursInstituteMember_z7ccMMIWEye5" title="Amounts payable, related party transactions"><ix:nonFraction name="ifrs-full:AmountsPayableRelatedPartyTransactions" contextRef="AsOf2022-12-31_custom_EntrepreneursInstituteMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">400,000</ix:nonFraction></span> payable on each
of the first and second anniversaries of the acquisition date. Other loans payable to related parties represent unsecured loans from
shareholders, which bear no interest and are payable on demand. The loan was repaid in 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company pays fees to Entrepreneurs Institute Australia Pty Ltd (&#8220;EIA&#8221;), an Australian company controlled and ultimately
owned by Roger Hamilton and Sandra Morrell, directors of the Group. The total in 2022 was $<span id="xdx_90B_eifrs-full--ServicesReceivedRelatedPartyTransactions_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EntrepreneursInstituteAustraliaPtyLtdMember_zq4X1W1iaO4f" title="Services received related party transactions"><ix:nonFraction name="ifrs-full:ServicesReceivedRelatedPartyTransactions" contextRef="From2022-01-012022-12-31_custom_EntrepreneursInstituteAustraliaPtyLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">325,243</ix:nonFraction></span>
(2021:$<span id="xdx_90E_eifrs-full--ServicesReceivedRelatedPartyTransactions_c20210101__20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EntrepreneursInstituteAustraliaPtyLtdMember_zRwTHWcCHftd" title="Services received related party transactions"><ix:nonFraction name="ifrs-full:ServicesReceivedRelatedPartyTransactions" contextRef="From2021-01-012021-12-31_custom_EntrepreneursInstituteAustraliaPtyLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">319,464</ix:nonFraction></span>).
The sole purpose of the entity is to engage local team and physical resources to provide day to day support to the Group with its
own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a material profit or
loss, therefore the related party shareholders do not receive any financial benefit from this arrangement. Unpaid fees are recorded
as a related party loan payable and is not-interest bearing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company pays fees to GeniusU Web Services India Pvt Ltd (&#8220;GU India&#8221;), an Indian company controlled and ultimately owned by
Suraj Naik, an employee of the Group, and a family member of Suraj Naik. The total in 2022 was $<span id="xdx_90B_eifrs-full--ServicesReceivedRelatedPartyTransactions_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusuWebServicesIndiaPvtLtdMember_zHawAhOoc4B3" title="Services received related party transactions"><ix:nonFraction name="ifrs-full:ServicesReceivedRelatedPartyTransactions" contextRef="From2022-01-012022-12-31_custom_GeniusuWebServicesIndiaPvtLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">209,322</ix:nonFraction></span> (2021:$<span id="xdx_909_eifrs-full--ServicesReceivedRelatedPartyTransactions_c20210101__20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusuWebServicesIndiaPvtLtdMember_zg7Mzr6bq8l" title="Services received related party transactions"><ix:nonFraction name="ifrs-full:ServicesReceivedRelatedPartyTransactions" contextRef="From2021-01-012021-12-31_custom_GeniusuWebServicesIndiaPvtLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">162,930</ix:nonFraction></span>). The sole purpose
of the entity is to engage local team and physical resources to provide day to day support to the Group with its own business requirements
as well as catering to external clients. GU India on-charges its costs and does not record a material profit or loss, therefore the related
party shareholders do not receive any financial benefit from this arrangement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unpaid
fees are recorded as a related party loan payable and is not-interest bearing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.45pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 177; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ConvertibleDebtObligationsTextBlock"><p id="xdx_80A_ecustom--ConvertibleDebtObligationsTextBlock_zxPSBAN1KcC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
20 &#8212; <span id="xdx_82F_zJS7SC2Hr9X5">CONVERTIBLE DEBT OBLIGATIONS</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfConvertibleDebtObligationsTableTextBlock"><p id="xdx_892_ecustom--ScheduleOfConvertibleDebtObligationsTableTextBlock_zgx8Y60h0IUi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022 and 2021, the Company&#8217;s convertible obligations consisted of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BE_zDYETEdTgwNj" style="display: none">SCHEDULE OF CONVERTIBLE DEBT OBLIGATIONS</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 396.9pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_402_ecustom--ConvertibleObligations_iS_z7Crc73JFkXg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
    debt obligations, beg, gross</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligations" contextRef="AsOf2021-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,274,010</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligations" contextRef="AsOf2020-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,531,639</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_406_ecustom--AdditionToConvertibleDebt_zOs4hHnnIWSf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Addition</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:AdditionToConvertibleDebt" contextRef="From2022-01-012022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,599,390</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2181">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_ecustom--BorrowingConvertedToEquity_zUlOjheQ6YYa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Converted
    to equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:BorrowingConvertedToEquity" contextRef="From2022-01-012022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">459,370</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:BorrowingConvertedToEquity" contextRef="From2021-01-012021-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">257,629</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_405_ecustom--ConvertedToShortTermDebt_zDDnNbzfciyh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Converted to short term debt</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<ix:nonFraction name="GNS:ConvertedToShortTermDebt" contextRef="From2022-01-012022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">539,245</ix:nonFraction></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
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  <tr id="xdx_40E_ecustom--RepaymentsOfConvertibleDebtAmount_ziRlPMa1KDff" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repayment</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:RepaymentsOfConvertibleDebtAmount" contextRef="From2022-01-012022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">509,311</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2190">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_407_ecustom--DeferredDebtDiscountAndCostOfFundRaise_zkTGE5mcqEya" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="GNS:DeferredDebtDiscountAndCostOfFundRaise" contextRef="From2022-01-012022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,389,623</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_407_ecustom--ConvertibleObligations_iE_zwFeckVv5Jc9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligations" contextRef="AsOf2022-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,975,851</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligations" contextRef="AsOf2021-12-31_custom_IfrsConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,274,010</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
    debt obligations, current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_984_ecustom--ConvertibleObligationsCurrentPortions_c20221231_z5X7myk2gyJc" title="Convertible debt obligations, current portion" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligationsCurrentPortions" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,752,328</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_ecustom--ConvertibleObligationsCurrentPortions_c20211231_zwykZYot6EK4" title="Convertible debt obligations, current portion" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligationsCurrentPortions" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">507,765</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
    debt obligations, non-current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98B_ecustom--ConvertibleObligationsNonCurrentPortions_c20221231_zX2Hutkho7M6" title="Convertible debt obligations, non-current portion" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligationsNonCurrentPortions" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,223,523</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_980_ecustom--ConvertibleObligationsNonCurrentPortions_c20211231_z00npHR9DEfb" title="Convertible debt obligations, non-current portion" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:ConvertibleObligationsNonCurrentPortions" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">766,245</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A9_zpX6Lkqljlee" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended 2019, Entrepreneur Resorts issued 36-month convertible loans in the principal amount of $<span id="xdx_901_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20190101__20191231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EntrepreneurResortsMember_zK6Bq0Ic3Aea" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2019-01-012019-12-31_custom_ConvertibleNotes2019Member_custom_EntrepreneurResortsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,256,178</ix:nonFraction></span> which bear interest
at rates between <span id="xdx_909_ecustom--IfrsDebtConversionConvertedInstrumentInterestRateBear_dp_uPure_c20190101__20191231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EntrepreneurResortsMember_z6UIbsD8V4B3" title="Bear interest at rate"><ix:nonFraction name="GNS:IfrsDebtConversionConvertedInstrumentInterestRateBear" contextRef="From2019-01-012019-12-31_custom_ConvertibleNotes2019Member_ifrs-full_BottomOfRangeMember_custom_EntrepreneurResortsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction>%</span> to <span id="xdx_907_ecustom--IfrsDebtConversionConvertedInstrumentInterestRateBear_dp_uPure_c20190101__20191231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EntrepreneurResortsMember_z8EV2eggfZx8" title="Bear interest at rate"><ix:nonFraction name="GNS:IfrsDebtConversionConvertedInstrumentInterestRateBear" contextRef="From2019-01-012019-12-31_custom_ConvertibleNotes2019Member_ifrs-full_TopOfRangeMember_custom_EntrepreneurResortsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">12</ix:nonFraction>%</span> per annum, payable monthly, quarterly, annually or at maturity depending upon the convertible note (the &#8220;2019
Convertible Notes). The notes are converted based on the offer by the Company at the market price and upon acceptance by the note holder.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2020, Genius Group Ltd issued 36-month convertible loans in the principal amount of $<span id="xdx_904_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember_zpBEBQjKdwXc" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2020-01-012020-12-31_custom_ConvertibleNotes2019Member_custom_GeniusGroupLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,819,145</ix:nonFraction></span>
which bear interest at rates between <span id="xdx_903_ecustom--IfrsDebtConversionConvertedInstrumentInterestRateBear_dp_uPure_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember_ziLz3nPXVd3e" title="Bear interest at rate"><ix:nonFraction name="GNS:IfrsDebtConversionConvertedInstrumentInterestRateBear" contextRef="From2020-01-012020-12-31_custom_ConvertibleNotes2019Member_ifrs-full_BottomOfRangeMember_custom_GeniusGroupLtdMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction>%</span>
to <span id="xdx_90B_ecustom--IfrsDebtConversionConvertedInstrumentInterestRateBear_pid_dp_uPure_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember_zf9RKhylduJ5" title="Bear interest at rate"><ix:nonFraction name="GNS:IfrsDebtConversionConvertedInstrumentInterestRateBear" contextRef="From2020-01-012020-12-31_custom_ConvertibleNotes2019Member_ifrs-full_TopOfRangeMember_custom_GeniusGroupLtdMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">12</ix:nonFraction></span>%
per annum, payable quarterly, annually or at maturity depending upon the convertible note (the &#8220;2019 Convertible
Notes&#8221;). The convertible notes are convertible at the end of the term at the market price. Additionally, in connection with
the convertible note issuances, the Company incurred $<span id="xdx_904_ecustom--IfrsDebtConversionConvertedInstrumentConvertibleNoteIssuances_c20200101__20201231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember_z7jr0KmYrVaj" title="Convertible note issuances"><ix:nonFraction name="GNS:IfrsDebtConversionConvertedInstrumentConvertibleNoteIssuances" contextRef="From2020-01-012020-12-31_custom_ConvertibleNotes2019Member_custom_GeniusGroupLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,383</ix:nonFraction></span>
of debt issuance costs which are being accounted for as interest expenses. The notes are converted based on the offer by the Company at the market price and upon acceptance by the note holder.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal amount
of $<span id="xdx_902_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--SeniorSecuredConvertibleNoteMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember__ifrs-full--TypesOfContractsAxis__custom--SecuritiesPurchaseAgreementMember_zZqjP2FS9L7g" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2022-01-012022-12-31_custom_SeniorSecuredConvertibleNoteMember_custom_GeniusGroupLtdMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,130,000</ix:nonFraction></span> in face amount of a senior secured convertible note purchased for $<span id="xdx_902_ecustom--DebtConversionPurchaseAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--SeniorSecuredConvertibleNoteMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember__ifrs-full--TypesOfContractsAxis__custom--SecuritiesPurchaseAgreementMember_zGfiaW9Defjk" title="Purchase of shares"><ix:nonFraction name="GNS:DebtConversionPurchaseAmount" contextRef="From2022-01-012022-12-31_custom_SeniorSecuredConvertibleNoteMember_custom_GeniusGroupLtdMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,000,000</ix:nonFraction></span> by the selling shareholder or its affiliates
or assigns in a transaction that closed on August 26, 2022, which is convertible into our ordinary shares at an initial fixed price of
$<span id="xdx_90A_ecustom--SharesPurchasePrice_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--SeniorSecuredConvertibleNoteMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember__ifrs-full--TypesOfContractsAxis__custom--SecuritiesPurchaseAgreementMember_zux0SEnwMrck" title="Initial fixed price"><ix:nonFraction name="GNS:SharesPurchasePrice" contextRef="From2022-01-012022-12-31_custom_SeniorSecuredConvertibleNoteMember_custom_GeniusGroupLtdMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">5.17</ix:nonFraction></span>, subject to adjustment for stock dividends, stock splits, anti-dilution and other customary adjustment events. The ordinary shares
issuable upon conversion of the convertible note are being registered and will be sold pursuant to the agreement by the selling shareholder.
In addition, subject to the satisfaction of equity conditions, we may, at our election, make monthly principal amortization payments
in our ordinary shares. If we elect to make amortization payments in ordinary shares, such ordinary shares will be valued at the lowest
of (x) the fixed conversion price, (y) 90% of the volume weighted average price of our ordinary shares on the trading day preceding the
amortization payment date and (z) 90% of the average of the three lowest volume weighted average prices for our ordinary shares during
the 20 trading days preceding the amortization payment date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the company and holder of 2019 Convertible Notes in the aggregate amount of $<span id="xdx_907_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_zbW7H2gFIJwj" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2019Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">503,311</ix:nonFraction></span> was repaid and
$<span id="xdx_909_ecustom--DebtConversionDebtRepayment_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_zSUKhjc035yd" title="Debt repayment amount"><ix:nonFraction name="GNS:DebtConversionDebtRepayment" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2019Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,454</ix:nonFraction></span> along with the accrued interest of $<span id="xdx_90E_ecustom--DebtConversionOriginalDebtAccruedInterest_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_zAG9UjCplmc4" title="Accrued interest converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtAccruedInterest" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2019Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18</ix:nonFraction></span> were converted to into <span id="xdx_902_ecustom--DebtConversionConvertedInstrumentSharesIssued_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_zxtTHnY4xLz9" title="Number of shares issued upon conversion of debt"><ix:nonFraction name="GNS:DebtConversionConvertedInstrumentSharesIssued" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2019Member" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">743</ix:nonFraction></span> Genius Group shares pursuant to conversion offer extended by
Genius Group Ltd. The conversion was recorded as reduction in the liability and an increase to equity. The interest was charged to
the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022 was <span id="xdx_901_ecustom--DebtConversionUnpaidAmount_iI_dxL_c20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_z9MGvuQoUrc" title="Debt conversion unpaid amount::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl2234">nil</span></span> (2021: $<span id="xdx_901_ecustom--DebtConversionUnpaidAmount_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2019Member_zpRDWGFBakue" title="Debt conversion unpaid amount"><ix:nonFraction name="GNS:DebtConversionUnpaidAmount" contextRef="AsOf2021-12-31_custom_ConvertibleNotes2019Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">207,765</ix:nonFraction></span>) under the 2019
Convertible Notes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 63.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the company and holder of 2020 Convertible Notes in the agreement amount of $<span id="xdx_90F_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zwEHoKRuEzG2" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,000</ix:nonFraction></span> was repaid and $<span id="xdx_904_ecustom--DebtConversionDebtRepayment_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zZWdU5XMKI27" title="Debt repayment amount"><ix:nonFraction name="GNS:DebtConversionDebtRepayment" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">221,000</ix:nonFraction></span>
along with the accrued interest of $<span id="xdx_907_ecustom--DebtConversionOriginalDebtAccruedInterest_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zpqJjOVLqSOi" title="Accrued interest converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtAccruedInterest" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,764</ix:nonFraction></span> were converted into <span id="xdx_903_ecustom--DebtConversionConvertedInstrumentSharesIssued_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_z22V3pS8Uztk" title="Number of shares issued upon conversion of debt"><ix:nonFraction name="GNS:DebtConversionConvertedInstrumentSharesIssued" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">37,463</ix:nonFraction></span> Genius Group shares pursuant to conversion offer extended by Genius
Group Ltd. The conversion was recorded as reduction in the liability and an increase to equity. The interest was charged to
the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022 was $<span id="xdx_90A_ecustom--DebtConversionUnpaidAmount_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zUsH6WIwuw4d" title="Debt conversion unpaid amount"><ix:nonFraction name="GNS:DebtConversionUnpaidAmount" contextRef="AsOf2022-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,245</ix:nonFraction></span> (2021: $<span id="xdx_90B_ecustom--DebtConversionUnpaidAmount_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zO8MX0spJRpc" title="Debt conversion unpaid amount"><ix:nonFraction name="GNS:DebtConversionUnpaidAmount" contextRef="AsOf2021-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">766,245</ix:nonFraction></span>) under the
2020 Convertible Notes plan and is classified as Short term debt.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 63.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the company and holder of 2022 Convertible Note converted aggregate amount of $<span id="xdx_90B_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2022Member_zRUOZrGhyXEi" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2022Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">707,306</ix:nonFraction></span>
including the accrued interest of $<span id="xdx_908_ecustom--DebtConversionOriginalDebtAccruedInterest_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2022Member_zyVu4gZFvsP9" title="Accrued interest converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtAccruedInterest" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2022Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">235,146</ix:nonFraction></span>
into the equity of Genius Group based on the share price calculated as per the agreement. The company issued <span id="xdx_909_ecustom--SharesIssuedForFulfillTheConversion_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2022Member_z60gLNnqiIL5" title="Interest"><ix:nonFraction name="GNS:SharesIssuedForFulfillTheConversion" contextRef="From2022-01-012022-12-31_custom_ConvertibleNotes2022Member" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,515,891</ix:nonFraction></span>
Genius Group Shares to fulfill the conversion request. The conversion was recorded as reduction in the liability and an increase to
equity. The interest was charged to the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022
was $<span id="xdx_90E_ecustom--DebtConversionUnpaidAmount_iI_c20221231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2022Member_zbrAjbTaSsX6" title="Debt conversion unpaid amount"><ix:nonFraction name="GNS:DebtConversionUnpaidAmount" contextRef="AsOf2022-12-31_custom_ConvertibleNotes2022Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,975,851</ix:nonFraction></span> (2021: $<span id="xdx_909_ecustom--DebtConversionUnpaidAmount_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2022Member_zIsvuNqDEy8d" title="Debt conversion unpaid amount"><ix:nonFraction name="GNS:DebtConversionUnpaidAmount" contextRef="AsOf2021-12-31_custom_ConvertibleNotes2022Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">0</ix:nonFraction></span>) and is classified as convertible debt obligations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company, and holders of 2020 Convertible Notes in the aggregate principal amount of $<span id="xdx_901_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zlE3VhJ3j7Pe" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2021-01-012021-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">161,500</ix:nonFraction></span> and
$<span id="xdx_909_ecustom--DebtConversionOriginalDebtAccruedInterest_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member_zlSp6kccy7k4" title="Accrued interest converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtAccruedInterest" contextRef="From2021-01-012021-12-31_custom_ConvertibleNotes2020Member" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,170</ix:nonFraction></span> of accrued interest were converted into <span id="xdx_901_ecustom--DebtConversionConvertedInstrumentSharesIssued_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusuLimitedMember_z1O44wRXv9mh" title="Number of shares issued upon conversion of debt"><ix:nonFraction name="GNS:DebtConversionConvertedInstrumentSharesIssued" contextRef="From2021-01-012021-12-31_custom_ConvertibleNotes2020Member_custom_GeniusuLimitedMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">13,306</ix:nonFraction></span> GeniusU Limited ordinary shares pursuant to conversion offers extended by Genius
Group Ltd at exercise prices equal to the fair value of a GeniusU Limited ordinary share at the time of conversion, or between $<span id="xdx_902_ecustom--DebtInstrumentConvertibleConversionPrice_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusuLimitedMember__ifrs-full--RangeAxis__ifrs-full--BottomOfRangeMember_zhczZCpCK5z8" title="Exercise price"><ix:nonFraction name="GNS:DebtInstrumentConvertibleConversionPrice" contextRef="AsOf2021-12-31_custom_ConvertibleNotes2020Member_custom_GeniusuLimitedMember_ifrs-full_BottomOfRangeMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10</ix:nonFraction></span> and
$<span id="xdx_907_ecustom--DebtInstrumentConvertibleConversionPrice_iI_c20211231__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleNotes2020Member__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusuLimitedMember__ifrs-full--RangeAxis__ifrs-full--TopOfRangeMember_z0MbZNgvvsQg" title="Exercise price"><ix:nonFraction name="GNS:DebtInstrumentConvertibleConversionPrice" contextRef="AsOf2021-12-31_custom_ConvertibleNotes2020Member_custom_GeniusuLimitedMember_ifrs-full_TopOfRangeMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">15</ix:nonFraction></span> per GeniusU Limited ordinary share. The Company recorded the conversions by reclassifying the carrying value of the 2021 Convertible
Notes to equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 178; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"><p id="xdx_800_ecustom--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zujRi7UgXAhd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
21 &#8212; <span id="xdx_82C_z0cBkGBfDXT">DERIVATIVE LIABILITIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfDerivativeInstrumentsTextBlock"><p id="xdx_89C_ecustom--ScheduleOfDerivativeInstrumentsTextBlock_zdWxxf5teS1i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
liabilities as of December 31, 2022 consist of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BC_zux6VJgBdSr6">SCHEDULE OF DERIVATIVE LIABILITIES</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_493_20221231_zSXVkPlOgbx3" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    of <br />
December 31,<br />
    2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_409_ecustom--CallOptionsOnAcqusition_iI_maDFLzyHP_zxXKyCruTx93" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 74%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    Options</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_409_eifrs-full--ContingentConsiderationRecognisedAsOfAcquisitionDate_iI_maDFLzyHP_zsqlKKl0pW9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingent
    consideration</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,447,396</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--DerivativeFinancialLiabilities_iTI_mtDFLzyHP_zX5ymd01hoBl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:DerivativeFinancialLiabilities" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,488,594</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A0_zEFjN1UjTdFb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
account for the Options and Top Up Consideration for the acquisitions the Company used the following income approach valuation methods:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Top
Up Consideration (excluding Revealed Films) and Call Option: The fair values of each was determined utilizing monte carlo simulations
to simulate the potential payoffs.&#160; A monte carlo simulation is a problem solving technique used to approximate the probability
of certain outcomes by running multiple trial runs, called simulations, using random variables.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Put
Option: The fair value of the put option was determined using a closed-form option pricing model commonly referred to as the Black-Scholes
option pricing model.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
Films Top Up Consideration: The fair value was determined utilizing a present value technique involving a discounted cash flow analysis.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company utilized an independent third-party to determine the fair value
of the fair value of the contingent earn outs and the fair value of options. A
reconciliation of derivative liabilities for the year ended December 31, 2022 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfDerivativeLiabilitiesOptionsExplanatory"><p id="xdx_898_ecustom--ScheduleOfDerivativeLiabilitiesOptionsExplanatory_zvatIHjuJyW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B3_zyDhg85VoNAf" style="display: none">SCHEDULE
OF DERIVATIVE LIABILITIES OPTIONS EXPLANATORY</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%; margin-left: 0.5in">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Closing Value</td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 46%">PIN</td><td style="width: 2%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_981_ecustom--DerivativeLiabilityAcquisitionValue_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember__ifrs-full--BusinessCombinationsAxis__custom--ESquaredEnterprisesLtdMember_zUejyaNU5lZ4" title="Acquisition Value" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:DerivativeLiabilityAcquisitionValue" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember_custom_ESquaredEnterprisesLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">451,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_98F_ecustom--DerivativeLiabilityAcquisitionAdjustments_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember__ifrs-full--BusinessCombinationsAxis__custom--ESquaredEnterprisesLtdMember_zZ77cLHcnXU9" title="Adjustments" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:DerivativeLiabilityAcquisitionAdjustments" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember_custom_ESquaredEnterprisesLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,240,198</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_984_ecustom--CallOptionsOnAcqusition_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember__ifrs-full--BusinessCombinationsAxis__custom--ESquaredEnterprisesLtdMember_zi0ZUME5CE1a" title="Adjustments" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:CallOptionsOnAcqusition" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember_custom_ESquaredEnterprisesLtdMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,691,198</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_ecustom--DerivativeLiabilityAcquisitionValue_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember_zJxZ1OTY14fh" title="Acquisition Value" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:DerivativeLiabilityAcquisitionValue" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,551,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_ecustom--DerivativeLiabilityAcquisitionAdjustments_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember_zP4IDvCdGJV7" title="Adjustments" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:DerivativeLiabilityAcquisitionAdjustments" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">13,490,198</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left"></td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_ecustom--CallOptionsOnAcqusition_iI_c20221231__ifrs-full--ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis__ifrs-full--WrittenPutOptionsMember_zbmuAniX1xF1" title="Adjustments" style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="GNS:CallOptionsOnAcqusition" contextRef="AsOf2022-12-31_ifrs-full_WrittenPutOptionsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,041,198</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A2_zkWzfSIx9LZ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company has recorded the derivative liability for issuance of options as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company has issued a call option to the seller of Property Investors Network which allows the seller to exercise the call option to repurchase
the company from the buyer, if the value of Company&#8217;s shares held by the seller is below GBP <span id="xdx_905_ecustom--ValueOfSharesHeldBySellerForIssuanceOfOptions_pn5n6_c20220101__20221231_zkHPZElzfJ6c" title="Value of shares held by seller for issuance of options"><ix:nonFraction name="GNS:ValueOfSharesHeldBySellerForIssuanceOfOptions" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">10.2</ix:nonFraction></span> million. To repurchase the company the Genius Group shares held by the seller, Simon
Zushi, must be transferred back to the Company, the seller must pay back &#163;<span id="xdx_905_ecustom--ValueOfPayBack_pn6n6_c20220101__20221231_zTNAsSjQFQwf" title="Value of shares held by seller for issuance of options"><ix:nonFraction name="GNS:ValueOfPayBack" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">3</ix:nonFraction></span> million to Genius Group, less any cash taken out of
Property Investors Network by Genius Group during the period commencing on the acquisition closing date and ending on the call completion
date. The validity of such option is one year from the first anniversary of the acquisition close date. The change
in the fair value of the call option is recorded as a gain or loss to Revaluation adjustment of contingent liabilities on the
Statement of Operations and Comprehensive Loss during the year 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company has also issued a put option to the seller of E-Squared Enterprises Ltd which allows the seller to exercise the put option
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the Company&#8217;s shares trade below $5.81 ($34.87 pre-split) at the agreed value of $1,907,598 at any given point of time from
the date of commencement to two years. The change in the fair value of the put option is recorded as a gain or loss to revaluation
adjustment of contingent liabilities on the Statement of Operations and Comprehensive Loss during the year 2022.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contingent
Consideration</b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfContingentConsiderationExplanatory"><p id="xdx_89A_ecustom--ScheduleOfContingentConsiderationExplanatory_zfSI6hBM9lUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B0_zb3N6OedCWCg" style="display: none">SCHEDULE
OF CONTINGENT CONSIDERATION EXPLANATORY</span></span></p>

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</ix:nonNumeric><p id="xdx_8AF_zMr9Mni9MZhe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company has recorded contingent consideration related to the acquisition companies. The company has agreed
to pay the additional consideration to the seller of each companies listed on the table above upon achieving the pre-agreed milestones.
The change in the fair value of contingent consideration is recorded as gain or loss to revaluation adjustment of contingent liabilities on
the Statement of Operations and Comprehensive Loss during the year 2022. The details of each contingent
considerations are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revealed
Films &#8211; <span id="xdx_900_ecustom--DescriptionOfContingentConsideration_c20220101__20221231__ifrs-full--BusinessCombinationsAxis__custom--RevealedFilmsMember_ztzLb4t479R" title="Description of contingent consideration"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_RevealedFilmsMember" name="GNS:DescriptionOfContingentConsideration">The company has agreed to pay top up consideration of 1.5X the difference between the revenue in 2023, 2024 and 2025 if
the revenue growth is higher than $7 million and a profit of at least 7%. The revenue growth is calculated as revenue during the year
minus $7 million or previous year&#8217;s revenue if the target was met. The consideration will be paid by issuing Company shares in
the assigned ratio for each of the sellers.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">University
of Antelope Valley &#8211; <span id="xdx_902_ecustom--DescriptionOfContingentConsideration_c20220101__20221231__ifrs-full--BusinessCombinationsAxis__custom--UniversityOfAntelopeValleyMember_zOW3p2TwmgNa" title="Description of contingent consideration"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_UniversityOfAntelopeValleyMember" name="GNS:DescriptionOfContingentConsideration">The
company has agreed to the seller of UAV if the amount of UAV&#8217;s total revenue in 2022, 2023 and 2024 is an increase over $9
million during each of the year or subsequent year&#8217;s total revenue, then the purchaser shall pay an additional cash of an
amount equal to the total revenue minus $9 million or previous year&#8217;s revenue multiplied by two. The consideration is payable
in cash.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
Investors Network &#8211; <span id="xdx_904_ecustom--DescriptionOfContingentConsideration_c20220101__20221231__ifrs-full--BusinessCombinationsAxis__custom--PropertyInvestorsNetworkMember_zauaCOTGdde7" title="Description of contingent consideration"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_PropertyInvestorsNetworkMember" name="GNS:DescriptionOfContingentConsideration">The company has agreed to pay the top up consideration if the 2x revenue or 10x EBITDA in 2022, 2023 or 2024
exceeds the purchase price or the previous year&#8217;s consideration; the difference between the value will be paid in additional consideration
by 90% in shares and 10% in cash.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E-Squared
Enterprises &#8211; <span id="xdx_90D_ecustom--DescriptionOfContingentConsideration_c20220101__20221231__ifrs-full--BusinessCombinationsAxis__custom--ESquaredEnterprisesLtdMember_z1xnTBYdCAXh" title="Description of contingent consideration"><ix:nonNumeric contextRef="From2022-01-012022-12-31_custom_ESquaredEnterprisesLtdMember" name="GNS:DescriptionOfContingentConsideration">The company has agreed to pay top up consideration for the year 2022 and 2023 for the positive difference between
2x annual revenue or 10x EBITDA for the financial year minus the hurdle amount which is the revenue or EBITDA for the previous year.</ix:nonNumeric></span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfIssuedCapitalExplanatory"><p id="xdx_80D_eifrs-full--DisclosureOfIssuedCapitalExplanatory_zAXcEI2GJDOb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
22 &#8212; <span id="xdx_829_zftnjVCBd5a1">EQUITY</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contributed
Capital</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Issued</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2022 and 2021, the Company issued ordinary shares for net cash proceeds of $<span id="xdx_902_eifrs-full--ProceedsFromIssuingShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_znX9eYXBuBXg" title="Proceeds from sale of future shares"><ix:nonFraction name="ifrs-full:ProceedsFromIssuingShares" contextRef="From2022-01-012022-12-31_ifrs-full_OrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15,473,334</ix:nonFraction></span> and $<span id="xdx_906_eifrs-full--ProceedsFromIssuingShares_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zgu2JjmzPQNf" title="Proceeds from sale of future shares"><ix:nonFraction name="ifrs-full:ProceedsFromIssuingShares" contextRef="From2021-01-012021-12-31_ifrs-full_OrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,127,442</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company issued the company ordinary shares with a gross value of $<span id="xdx_904_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--InitialPublicOfferingMember_zSplE8TltVmc" title="Proceeds from sale of future shares"><ix:nonFraction name="ifrs-full:IssueOfEquity" contextRef="From2022-01-012022-12-31_custom_InitialPublicOfferingMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">22,581,816</ix:nonFraction></span>
(net $<span id="xdx_904_eifrs-full--ProceedsFromIssueOfOrdinaryShares_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--InitialPublicOfferingMember_ze9UWwRQW6Nd" title="Proceeds from sale of future shares, net"><ix:nonFraction name="ifrs-full:ProceedsFromIssueOfOrdinaryShares" contextRef="From2022-01-012022-12-31_custom_InitialPublicOfferingMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15,202,858</ix:nonFraction></span>)
from the IPO proceeds. The company also raised cash proceed of $<span id="xdx_904_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__ifrs-full--OrdinarySharesMember_zTcXuk2ESci5" title="Proceeds from sale of future shares"><ix:nonFraction name="ifrs-full:IssueOfEquity" contextRef="From2022-01-012022-12-31_ifrs-full_OrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">270,476</ix:nonFraction></span>
from the share issuance during the IPO. GeniusU Limited issued ordinary shares with a value of $<span id="xdx_90C_eifrs-full--IssueOfEquity_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_z5l05vwxbJU3" title="Shares issued for cash"><ix:nonFraction name="ifrs-full:IssueOfEquity" contextRef="From2022-01-012022-12-31_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,655,739</ix:nonFraction></span>
(2021 - $<span id="xdx_90C_eifrs-full--IssueOfEquity_c20210101__20211231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_ztqgYOTllYSk" title="Shares issued for cash"><ix:nonFraction name="ifrs-full:IssueOfEquity" contextRef="From2021-01-012021-12-31_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,308,617</ix:nonFraction></span>)
in exchange of cash and conversion from a loan to equity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 179; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal
amount of $<span id="xdx_90B_ecustom--DebtConversionOriginalDebtPrincipalAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--SeniorSecuredConvertibleNoteMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember__ifrs-full--TypesOfContractsAxis__custom--SecuritiesPurchaseAgreementMember_zg0jqv7P5qcd" title="Aggregate principal amount converted"><ix:nonFraction name="GNS:DebtConversionOriginalDebtPrincipalAmount" contextRef="From2022-01-012022-12-31_custom_SeniorSecuredConvertibleNoteMember_custom_GeniusGroupLtdMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,130,000</ix:nonFraction></span> in face amount of a senior secured convertible note purchased for $<span id="xdx_900_ecustom--DebtConversionPurchaseAmount_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--SeniorSecuredConvertibleNoteMember__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--GeniusGroupLtdMember__ifrs-full--TypesOfContractsAxis__custom--SecuritiesPurchaseAgreementMember_zjtjbrirVgMe" title="Purchase of shares"><ix:nonFraction name="GNS:DebtConversionPurchaseAmount" contextRef="From2022-01-012022-12-31_custom_SeniorSecuredConvertibleNoteMember_custom_GeniusGroupLtdMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,000,000</ix:nonFraction></span>. In relation to the offering, the
company has classified the equity portion of the debt note valued at $<span id="xdx_908_ecustom--EquityInstrumentsAmountClassifiedAsDebtNoteValue_c20220101__20221231_zvHpzRbxT3V9" title="Equity portion of the debt note classified value net of discount and cost of fund raise"><ix:nonFraction name="GNS:EquityInstrumentsAmountClassifiedAsDebtNoteValue" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,893,064</ix:nonFraction></span> net of debt discount and cost of fund raise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 46.9pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022, the Company issued Genius Group Ltd ordinary shares with a value of $<span id="xdx_90A_eifrs-full--IncreaseDecreaseThroughAcquisitionOfSubsidiary_c20220101__20221231_zdHTkWdU0aI3" title="Proceeds from sale of future shares"><ix:nonFraction name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">35,098,001</ix:nonFraction></span> in exchange for the
5 acquisitions that the company closed. Genius Group Ltd shares were valued using the market approach based on the price per share paid
by third parties for Genius Group Ltd shares as of the acquisition date and share delivery date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
below for discussions regarding additional equity issuances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Shares
Issued Related to Debt Conversions</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year December 31, 2022, convertible debt obligations consisting of $<span id="xdx_904_eifrs-full--IssueOfConvertibleInstruments_c20220101__20221231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember__ifrs-full--ComponentsOfEquityAxis__custom--ConvertibleDebtInstrumentMember_zKj70ETeLJBk" title="Convertible debt obligations"><ix:nonFraction name="ifrs-full:IssueOfConvertibleInstruments" contextRef="From2022-01-012022-12-31_custom_GeniusULimitedOrdinarySharesMember_custom_ConvertibleDebtInstrumentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">936,543</ix:nonFraction></span> (2021-$<span id="xdx_907_eifrs-full--IssueOfConvertibleInstruments_c20210101__20211231__ifrs-full--ComponentsOfEquityAxis__custom--ConvertibleDebtInstrumentMember__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_zdooDElL0yuh" title="Convertible debt obligations"><ix:nonFraction name="ifrs-full:IssueOfConvertibleInstruments" contextRef="From2021-01-012021-12-31_custom_ConvertibleDebtInstrumentMember_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">177,689</ix:nonFraction></span>) of principal and accrued interest were
converted into Genius Group shares pursuant to conversion offers extended by Genius Group Ltd and Entrepreneur Resorts Limited. See Note
20 &#8212; Convertible Debt Obligations for additional information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Shares
Issued in Satisfaction of a Liability</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year December 31, 2020, the Company issued $<span id="xdx_908_ecustom--SharesIssuedValueForSettlementOfLoan_c20200101__20201231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_z4WM7ZKSJp4a" title="Shares issued value for settlement of loan"><ix:nonFraction name="GNS:SharesIssuedValueForSettlementOfLoan" contextRef="From2020-01-012020-12-31_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">350,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of Genius Group Ltd ordinary shares as partial
settlement of a loan with the seller of Tau Game Lodge. The Company also granted a put option over shares issued in satisfaction of this
liability and reported a liability of $<span id="xdx_907_ecustom--SharesIssuedValueForPayableInCashUponExercise_c20200101__20201231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_zX9o9CjIG7H8" title="Shares issued value for payable in cash upon exercise"><ix:nonFraction name="GNS:SharesIssuedValueForPayableInCashUponExercise" contextRef="From2020-01-012020-12-31_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span> payable in cash upon exercise. The seller of Tau Game Lodge exercised the put option in
2022 and the Company cancelled the shares valued at $<span id="xdx_909_ecustom--SharesIssuedValueForSettlementOfLoan_c20200101__20201231__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusULimitedOrdinarySharesMember_zSqISqgZkGrk" title="Shares issued value for settlement of loan"><ix:nonFraction name="GNS:SharesIssuedValueForSettlementOfLoan" contextRef="From2020-01-012020-12-31_custom_GeniusULimitedOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">350,000</ix:nonFraction></span>
and paid the liability of $</span><span id="xdx_90C_eifrs-full--PurchaseOfTreasuryShares_c20201211__20201213_z8XvBgeYaj1l" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:PurchaseOfTreasuryShares" contextRef="From2020-12-112020-12-13" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
cash.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock-Based
Compensation</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2022 and 2021, the Company granted <span id="xdx_908_ecustom--NumberOfShareOptionsGrantedInSharebasedPaymentArrangementShares_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--TauGameLodgeMember__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusGroupLtdOrdinarySharesMember_zvUQXnP3Cc08" title="Number of share options granted in share based payment arrangement shares"><ix:nonFraction name="GNS:NumberOfShareOptionsGrantedInSharebasedPaymentArrangementShares" contextRef="From2022-01-012022-12-31_custom_TauGameLodgeMember_custom_GeniusGroupLtdOrdinarySharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">560,188</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90D_ecustom--NumberOfShareOptionsGrantedInSharebasedPaymentArrangementShares_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--TauGameLodgeMember__ifrs-full--ClassesOfShareCapitalAxis__custom--GeniusGroupLtdOrdinarySharesMember_zS35cw8WF494" title="Number of share options granted in share based payment arrangement shares"><ix:nonFraction name="GNS:NumberOfShareOptionsGrantedInSharebasedPaymentArrangementShares" contextRef="From2021-01-012021-12-31_custom_TauGameLodgeMember_custom_GeniusGroupLtdOrdinarySharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">14,306</ix:nonFraction></span>
Genius Group share options</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The fair value of
the options granted in 2022 was $<span id="xdx_909_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_c20220101__20221231__ifrs-full--BorrowingsByNameAxis__custom--TauGameLodgeMember_zggSKx5mgN0f"><ix:nonFraction name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets" contextRef="From2022-01-012022-12-31_custom_TauGameLodgeMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,189,351</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and 2021 was $<span id="xdx_902_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--TauGameLodgeMember_zOMyvGId45a1"><ix:nonFraction name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets" contextRef="From2021-01-012021-12-31_custom_TauGameLodgeMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">181,559</ix:nonFraction></span>,
with the fair value expensed over the vesting period. During the year ended December 31, 2022, the Company issued 1,511,664 Restricted
Stock Units (RSUs) to new hires. The RSUs fair value of $</span><span id="xdx_90F_eifrs-full--ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets_c20210101__20211231__ifrs-full--BorrowingsByNameAxis__custom--GeniusGroupLtdOrdinarySharesMember_zIhh3W5BAoji" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets" contextRef="From2021-01-012021-12-31_custom_GeniusGroupLtdOrdinarySharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,600,000</ix:nonFraction>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">is being expensed over the applicable vesting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfStockOptionsUsingBlackScholesOptionPricingModelAndUsedAssumptionsExplanatory"><p id="xdx_89E_ecustom--DisclosureOfStockOptionsUsingBlackScholesOptionPricingModelAndUsedAssumptionsExplanatory_zS3tWQlELHk3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B3_zNGi638fl4x7">SCHEDULE OF STOCK OPTIONS USING THE BLACK-SCHOLES OPTION PRICING MODEL AND USED THE ASSUMPTIONS</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 432.35pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 432.35pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_497_20220101__20221231_zevaT9MTiTB6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49F_20210101__20211231_zIExiSF8NRm2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
    Ended<br /> December 31,</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_407_eifrs-full--DescriptionOfRiskFreeInterestRateShareOptionsGranted_dp_zdFbWTUYpDQl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk-free
    interest rate</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.6pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 180; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.6pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory"><p id="xdx_894_eifrs-full--DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_ztklbdWvRKz4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.6pt 0pt 50.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B6_zPwCsdqrbG5c">SUMMARY OF OPTION ACTIVITY</span></span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</ix:nonNumeric><p id="xdx_8A1_zyeAnCBpBoa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.6pt 0pt 50.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020
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</ix:nonNumeric><p id="xdx_8AA_zZjeHMxfymZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 181; Value: 25 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfRevenueExplanatory"><p id="xdx_80C_eifrs-full--DisclosureOfRevenueExplanatory_zWONxEzH67tl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
23 &#8212; <span id="xdx_823_zZaKYoYAOUP4">REVENUES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
breakdown of revenues for the years ended December 31, 2022 and 2021 are shown below. The revenue is disaggregated into the categories
the Company believes depict how and the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory"><p id="xdx_89D_eifrs-full--DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory_zrLHdMawF926" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span><span id="xdx_8BB_znLrbM1wgROl" style="display: none">SCHEDULE OF DISAGGREGATION OF REVENUE</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.2pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 361.5pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40D_eifrs-full--RevenueFromRenderingOfServices_i01_pp0p0_zV9Rh3huNhva" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8211;
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  <tr id="xdx_402_ecustom--RevenueFromCampus_i01T_pp0p0_zeOzzq1GEUe9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 30pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40A_eifrs-full--CirculationRevenue_i01_pp0p0_zQnnshe462Hk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 30pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8211;
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CirculationRevenue" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,011,319</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CirculationRevenue" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,192,594</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--RevenueFromConstructionContracts_i01_pp0p0_zV9cStdDpkJl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8211;
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  <tr id="xdx_406_ecustom--RevenueFromEducation_i01T_pp0p0_zhFiJCpbR6f3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Revenue</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:RevenueFromContractsWithCustomers" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">18,193,616</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</ix:nonNumeric><p id="xdx_8A3_z5qILwe7EU1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.9pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory"><p id="xdx_804_eifrs-full--DisclosureOfOtherOperatingIncomeExplanatory_zxQ0ld1WTSI" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
24 &#8212; <span id="xdx_827_zAZy66LMmlCh">OTHER OPERATING INCOME</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleOfOtherOperatingIncomeTableTextBlock"><p id="xdx_896_ecustom--ScheduleOfOtherOperatingIncomeTableTextBlock_zqY02PAIFh8b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the years ended December 31, 2022 and 2021, other operating income consists of:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B2_zJOcHyN8NSGe" style="display: none">SCHEDULE OF OTHER OPERATING INCOME</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 333.15pt; text-indent: 0.25in"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
    Ended December 31,</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_406_ecustom--OthersIncome_maOOIEzTJp_zOcev9jG9PF3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
    income</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="GNS:OthersIncome" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">144,396</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2512">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--RevenueFromGovernmentGrants_maOOIEzTJp_zjSZHVeXQk38" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidy
    from government</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2514">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:RevenueFromGovernmentGrants" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">490,300</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_eifrs-full--OtherOperatingIncomeExpense_iT_pp0p0_mtOOIEzTJp_zWxEdYlZZMC2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;Other
    operating income</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:OtherOperatingIncomeExpense" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">144,396</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:OtherOperatingIncomeExpense" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">490,300</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AF_z5yGJdknt697" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 182; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory"><p id="xdx_80A_eifrs-full--DisclosureOfGeneralAndAdministrativeExpenseExplanatory_zSjctAIP5U19" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
25 &#8212; <span id="xdx_828_zW83txpILoQ7">GENERAL AND ADMINISTRATIVE EXPENSES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfGeneralAndAdministrativeExpensesExplanatory"><p id="xdx_89D_ecustom--DisclosureOfGeneralAndAdministrativeExpensesExplanatory_zbyWAmDpNm9c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses for the years ended December 31, 2022 and 2021 include the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B2_zY8zFjY02x25" style="display: none">SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_490_20220101__20221231_zypHmZsixuB9" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49F_20210101__20211231_z4Z0tpyZb8Uh" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Years
    Ended December 31,</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--ShorttermEmployeeBenefitsExpense_maGAAEzupH_zIFzRJTS3lX6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salaries,
    wages, bonuses, and other benefits</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ShorttermEmployeeBenefitsExpense" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,909,585</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ShorttermEmployeeBenefitsExpense" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,197,397</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eifrs-full--ProfessionalFeesExpense_maGAAEzupH_z3qZ1TbtTR5c" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40D_eifrs-full--AdvertisingExpense_maGAAEzupH_zZDscX9VMWoa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_407_eifrs-full--OtherExpenseByNature_maGAAEzupH_zgGmAK2M6ej6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_ecustom--ExpensesRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_maGAAEzupH_zAFnx0XOQys6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_406_eifrs-full--ExpenseFromSharebasedPaymentTransactionsWithEmployees_maGAAEzupH_zzReYyWqaQnk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40D_eifrs-full--UtilitiesExpense_maGAAEzupH_zKKUrM9CYxF7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40D_eifrs-full--TravelExpense_maGAAEzupH_zd7qNCUWwP7h" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40E_eifrs-full--ResearchAndDevelopmentExpense_maGAAEzupH_z0KmfmYYZ8j1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:ResearchAndDevelopmentExpense" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">847,068</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_402_eifrs-full--RentalExpense_maGAAEzupH_ztRYf6EI3n23" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rent
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:RentalExpense" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">351,730</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40C_eifrs-full--RepairsAndMaintenanceExpense_maGAAEzupH_ztyQ3wWP2ZTc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repairs
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  <tr id="xdx_406_ecustom--AthleticProgramExpenses_maGAAEzupH_zolIF47Witw5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40F_eifrs-full--GeneralAndAdministrativeExpense_iT_pp0p0_mtGAAEzupH_zQtBqvAJ5c32" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table>

</ix:nonNumeric><p id="xdx_8AA_zFJCQmQsTM36" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfInterestExpenseExplanatory"><p id="xdx_808_eifrs-full--DisclosureOfInterestExpenseExplanatory_zwLWH21kRFfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
26 &#8212; <span id="xdx_823_zHmeLElMr8vj">INTEREST EXPENSE, NET</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory"><p id="xdx_89D_eifrs-full--DisclosureOfInterestIncomeExpenseExplanatory_znNnV0Jk0hRg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the years ended December 31, 2022 and 2021, the Company earned interest income and incurred interest expense as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span><span id="xdx_8B2_zWtcb9TpXl4i" style="display: none">SCHEDULE
OF COMPANY EARNED INTEREST INCOME AND INCURRED INTEREST EXPENSE</span></p>

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  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 64%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank
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  <tr id="xdx_40F_eifrs-full--InterestRevenueExpense_iT_pp0p0_zHGgNbAZdrb2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_406_eifrs-full--InterestExpenseOnLeaseLiabilities_iN_pp0p0_di_zkhfs3KSh8Qk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_405_ecustom--OtherInterestPayableToLoans_iN_pp0p0_di_zSeAZD5mMjD" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
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  <tr id="xdx_40F_ecustom--AmortizationOfDebtDiscount_iN_pp0p0_di_zl07t1shOB81" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8A4_z3uSrmvxuNyf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 83.85pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 83.85pt 0pt 50.5pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 183; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfIncomeTaxExplanatory"><p id="xdx_80A_eifrs-full--DisclosureOfIncomeTaxExplanatory_zpRuj1JsCqs7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
27 &#8212; <span id="xdx_82B_zVhVzJebxs1f">INCOME TAX EXPENSE</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is subject to income taxes in the countries of Indonesia, Singapore, New Zealand, United States, United Kingdom and South
Africa.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:ScheduleofProvisionForIncomeTaxesProvisionsBenefitsAndDeferredIncomeTaxTableTextBlock"><p id="xdx_899_ecustom--ScheduleofProvisionForIncomeTaxesProvisionsBenefitsAndDeferredIncomeTaxTableTextBlock_zePHPydCLIKg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
provision for income taxes consists of the following provisions (benefits):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zwNZoL7O0Thc" style="display: none">SCHEDULE OF PROVISION FOR INCOME TAXES PROVISIONS (BENEFITS)</span>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 375.65pt"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    tax:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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  <tr id="xdx_407_eifrs-full--CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods_zMCgTJma1Mzh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">220,570</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2596">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Increase)
    decrease in deferred tax assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,240</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decrease
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;Deferred
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,284,166</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:CurrentAndDeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">128,852</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_401_eifrs-full--IncomeTaxExpenseContinuingOperations_pp0p0_zMF8wgYG87L7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Benefit
    from) Provision for income taxes</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">1,063,596</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
provision for income taxes by country consists of the following provisions (benefits):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current Expense</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 37%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" contextRef="From2022-01-012022-12-31_custom_IndonesiaCountryMember_custom_ForeignMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">29,039</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" contextRef="From2022-01-012022-12-31_custom_NewZealandCountryMember_custom_ForeignMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,050</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2612">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods" contextRef="From2022-01-012022-12-31_custom_SouthAfricaCountryMember_custom_ForeignMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">46,129</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2615">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-style: normal; font-weight: normal">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-style: normal; font-weight: normal">&#160;</span></td></tr>
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    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-012022-12-31_custom_NewZealandCountryMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">48,050</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif"><ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-012022-12-31_custom_SingaporeCountryMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">29,503</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-012022-12-31_custom_SouthAfricaCountryMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">561,333</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-012022-12-31_custom_UKCountryMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">160,900</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-012022-12-31_custom_USACountryMember" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">148,488</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: normal 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: normal 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="ifrs-full:IncomeTaxExpenseContinuingOperations" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">1,063,596</ix:nonFraction></span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><span style="font: normal 10pt Times New Roman, Times, Serif">)</span></td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AA_z2bVTip5v7F1" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfReconciliationOfIncomeTaxesAtStatutoryRateExplanatory"><p id="xdx_899_ecustom--DisclosureOfReconciliationOfIncomeTaxesAtStatutoryRateExplanatory_zdfNId70Xyh5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
reconciliation of income taxes at the statutory rate of Singapore to the effective tax rates for the years ended December 31, 2022 and
2021 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_z7GnsRVoILlf" style="display: none">SCHEDULE OF RECONCILIATION OF INCOME TAXES AT THE STATUTORY RATE&#160;</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" id="xdx_497_20220101__20221231_zwWarwmWfsbi" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" id="xdx_49D_20210101__20211231_zDtb5ntkjfw3" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Years
    ended December 31,</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td></tr>
  <tr id="xdx_405_eifrs-full--AccountingProfit_i_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss from continuing operations before provision for income taxes</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:AccountingProfit" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">56,315,143</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:AccountingProfit" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">4,618,050</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_402_eifrs-full--TaxEffectOfForeignTaxRates_i_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax
    at the Singapore rate of <span id="xdx_90E_eifrs-full--TaxRateEffectOfForeignTaxRates_pp2d_dp_c20220101__20221231_zaq7ikXzGbYd" title="Tax at the Singapore rate" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIElOQ09NRSBUQVhFUyBBVCBUSEUgU1RBVFVUT1JZIFJBVEUgKERldGFpbHMpAA__"><span id="xdx_90A_eifrs-full--TaxRateEffectOfForeignTaxRates_pp2d_dp_c20210101__20211231_zBXqWNcbpB66" title="Tax at the Singapore rate" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIElOQ09NRSBUQVhFUyBBVCBUSEUgU1RBVFVUT1JZIFJBVEUgKERldGFpbHMpAA__"><ix:nonFraction name="ifrs-full:TaxRateEffectOfForeignTaxRates" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="2" scale="-2" unitRef="Pure"><ix:nonFraction name="ifrs-full:TaxRateEffectOfForeignTaxRates" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="2" scale="-2" unitRef="Pure">17</ix:nonFraction></ix:nonFraction></span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:TaxEffectOfForeignTaxRates" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">9,573,574</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:TaxEffectOfForeignTaxRates" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">785,069</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
  <tr id="xdx_40A_eifrs-full--ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract_iB" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reconciling
    items:</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_400_eifrs-full--TaxExpenseIncomeAtApplicableTaxRate_i01_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Permanent
    differences</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TaxExpenseIncomeAtApplicableTaxRate" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,867,054</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TaxExpenseIncomeAtApplicableTaxRate" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">31,272</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eifrs-full--TaxEffectOfRevenuesExemptFromTaxation2011_i01_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    period net operating losses not recognised as a deferred tax asset</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,019,483</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">743,997</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_403_eifrs-full--TaxEffectFromChangeInTaxRate_i01_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rate
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</ix:nonNumeric><p id="xdx_8AF_zeHcIjTTMvQl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 184; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td></tr></table></div>
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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfEarningsPerShareExplanatory"><p id="xdx_804_eifrs-full--DisclosureOfEarningsPerShareExplanatory_zqcPicMcUdv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
28 &#8212; <span id="xdx_82B_z60o5HsMdtZe">EARNINGS PER SHARE</span></span></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:EarningsPerShareExplanatory"><p id="xdx_89C_eifrs-full--EarningsPerShareExplanatory_ztVo8KJdAPZ7" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B5_zwHveV2fXu2j" style="display: none">SUMMARY OF EARNINGS PER SHARE</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40C_eifrs-full--DilutedEarningsPerShareAbstract_iB_zgTMGUbHua1h" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Instruments
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_408_ecustom--IfrsAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_i01_zp92VyiKm8Yj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8AB_z3HVOOz4HRU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfFairValueMeasurementExplanatory"><p id="xdx_805_eifrs-full--DisclosureOfFairValueMeasurementExplanatory_zfjJo6Zthlhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
29 &#8212; <span id="xdx_823_zRtWXE5y6Q6k">FAIR VALUE INFORMATION</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair
value hierarchy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below analyses assets and liabilities carried at fair value. The different levels are defined as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
1: Quoted unadjusted prices in active markets for identical assets or liabilities that the Company can access at measurement date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
2: Inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
3: Unobservable inputs for the asset or liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.45pt; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 185; Value: 25 -->
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    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.45pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory"><p id="xdx_891_eifrs-full--DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory_zQjz7mCC8NGj" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2022 and 2021, the Company&#8217;s financial assets and liabilities by level within the fair value hierarchy are as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B0_ztDDOTsFw4Vf" style="display: none">SUMMARY OF FINANCIAL ASSETS AND LIABILITIES BY LEVEL WITHIN THE FAIR VALUE HIERARCHY</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 44%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FINANCIAL
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  <tr id="xdx_400_eifrs-full--FinancialLiabilities_iI_pp0p0_hifrs-full--CategoriesOfFinancialLiabilitiesAxis__ifrs-full--FinancialLiabilitiesAtAmortisedCostCategoryMember__ifrs-full--ClassesOfFinancialLiabilitiesAxis__ifrs-full--ContingentLiabilitiesMember_zsrPFCsK9Hti" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingent
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:FinancialLiabilities" contextRef="AsOf2022-12-31_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember_ifrs-full_ContingentLiabilitiesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">36,488,594</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40D_eifrs-full--FinancialAssets_iI_pp0p0_hifrs-full--CategoriesOfFinancialAssetsAxis__ifrs-full--FinancialAssetsAtAmortisedCostCategoryMember__ifrs-full--ClassesOfFinancialAssetsAxis__custom--IfrsCashMember_zKdXzENrSOc8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2748">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2749">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40B_eifrs-full--FinancialAssets_iI_pp0p0_hifrs-full--CategoriesOfFinancialAssetsAxis__ifrs-full--FinancialAssetsAtAmortisedCostCategoryMember__ifrs-full--ClassesOfFinancialAssetsAxis__custom--DueFromRelatedPartiesMember_zZkvSWOJbBvd" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2753">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:FinancialAssets" contextRef="AsOf2021-12-31_ifrs-full_Level3OfFairValueHierarchyMember_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember_custom_DueFromRelatedPartiesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">44,245</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial liabilities at amortized cost</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2762">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</table>

</ix:nonNumeric><p id="xdx_8AC_zlxnFwjA7KFh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<ix:exclude><!-- Field: Page; Sequence: 186; Value: 25 -->
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    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfFinancialRiskManagementExplanatory"><p id="xdx_803_eifrs-full--DisclosureOfFinancialRiskManagementExplanatory_zmU5PZro8jg7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
30 &#8212; <span id="xdx_82A_zRCZD6SnJVM5">FINANCIAL RISK MANAGEMENT</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s activities expose it to certain financial risks mainly related to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">market
                                            risk (currency risk, interest rate risk and price risk);</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">credit
                                            risk, and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">liquidity
                                            risk.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
board of directors has overall responsibility for the establishment and oversight of the Company&#8217;s risk management framework. The
board has established the risk committee, which is responsible for developing and monitoring the Company&#8217;s risk management policies.
The committee reports quarterly to the board of directors on its activities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group&#8217;s risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk
limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect
changes in market conditions and the Company&#8217;s activities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group&#8217;s board of directors oversees how management monitors compliance with the risk management policies and procedures and reviews
the adequacy of the risk management framework in relation to the risks faced by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.7pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest
rate risk</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
in interest rates impact on the value of investments and financing activities, giving rise to interest rate risk.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
debt of the Company is comprised of different instruments, which bear interest at either fixed or floating interest rates. The ratio
of fixed and floating rate instruments in the loan portfolio is monitored and managed, by incurring either variable rate bank loans or
fixed rate bonds as necessary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company policy with regards to financial assets, is to invest cash at floating rates of interest and to maintain cash reserves in short-term
investments in order to maintain liquidity, while also achieving a satisfactory return for shareholders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign
currency risk</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is exposed to foreign currency risk as a result of certain transactions and borrowings which are denominated in foreign
currencies. The foreign currencies in which the Company deals primarily are US Dollars, Singapore Dollars, Indonesian Rupees and
South African Rands.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.15pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit
risk arises from the potential default of a counterparty to an agreement or financial instrument, resulting in financial loss. The Company
is exposed to credit risk in its operating activities (mainly in connection with trade receivables) and financial activities, including
deposits with banks and other financial institutions and other financial instruments contracted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

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    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
mitigate risks associated with trade receivables, management makes use of credit approvals, limits, and monitoring, and only deals with
reputable counterparties with consistent payment histories. Sufficient collateral or guarantees are also obtained when necessary. Each
counterparty is analyzed individually for creditworthiness before terms and conditions are offered. The analysis involves making use
of information submitted by the counterparties as well as external bureau data (where available). Counterparty credit limits are in place
and are reviewed and approved by credit management committees. The exposure to credit risk and the creditworthiness of counterparties
is continuously monitored.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit
loss allowances for expected credit losses are recognized for all debt instruments except those measured at fair value through profit
or loss. Credit loss allowances are also recognized for loan commitments and financial guarantee contracts. For trade receivables and
contract assets which do not contain a significant financing component, the loss allowance is determined as the lifetime expected credit
losses of the instruments. For all other trade receivables, contract assets and lease receivables, IFRS 9 permits the determination of
the credit loss allowance by either determining whether there was a significant increase in credit risk since initial recognition or
by always making use of lifetime expected credit losses. Management has chosen as an accounting policy, to make use of lifetime expected
credit losses. Management does therefore not make the annual assessment of whether the credit risk has increased significantly since
initial recognition for trade receivables, contract assets or lease receivables.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 53.3pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity
risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is exposed to liquidity risk, which is the risk that the Company will encounter difficulties in meeting its obligations as they
become due.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred significant losses and needs to raise additional
funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company&#8217;s ability to
continue as a going concern. Management&#8217;s plans in regard to these matters are also described in Note 2.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

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    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfRelatedPartyExplanatory"><p id="xdx_80C_eifrs-full--DisclosureOfRelatedPartyExplanatory_zMav7VANe9x6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
31 &#8212; <span id="xdx_822_zj9bdE7BlAO1">RELATED PARTIES</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; margin-left: 0.5in">
  <tr style="vertical-align: top">
    <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Relationships</b></span></td>
    <td style="padding-bottom: 1.5pt; width: 2%">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of
    related party</b></span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board members and key management</span></td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roger James Hamilton</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="background-color: white"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sandra
                                        Lee Morrell</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michelle
    Clarke</span></p></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suraj Naik</span></td></tr>
  <tr style="vertical-align: top">
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                                        Grove</span></p>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Related entity</span></td>
    <td>&#160;</td>
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GeniusU Web Services Pvt
    Ltd</span></td></tr>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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    Australia Pty Ltd</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    Ltd</span></td></tr>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zutshi LLP</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vision 1 Investments</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Throckley</span></td></tr>
  <tr style="vertical-align: top">
    <td style="white-space: nowrap"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
Note 19 &#8212; Loans Payable, Related Parties for information on related party balances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory"><p id="xdx_806_eifrs-full--DisclosureOfInformationAboutKeyManagementPersonnelExplanatory_z2P2D3kfrfB" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
32 &#8212; <span id="xdx_829_zsPlLRLw92ma">KEY MANAGEMENT COMPENSATION</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.95pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="GNS:DisclosureOfDetailedInformationOfKeyManagementPersonnelCompensationExplanatory"><p id="xdx_89C_ecustom--DisclosureOfDetailedInformationOfKeyManagementPersonnelCompensationExplanatory_zLE4icWiCKqc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following tables set forth information regarding compensation awarded to or earned by our Executive Officers and Board of Directors during
the years ended December 31, 2022 and 2021:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B5_zwTOh543idE9" style="display: none">SUMMARY OF COMPENSATION AWARDED TO OR EARNED BY OUR EXECUTIVE OFFICERS AND BOARD OF DIRECTORS</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p>

<ix:exclude><!-- Field: Page; Sequence: 189; Value: 25 -->
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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory"><p id="xdx_80C_eifrs-full--DisclosureOfEntitysReportableSegmentsExplanatory_zTERUepHTbJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
33 &#8212; <span id="xdx_821_zfU8Dk3dTix5">SEGMENT REPORTING</span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 57.55pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the Company&#8217;s business segments offer different, but synergistic products and services, and are managed separately. Discrete
financial information is available for each segment, and segment performance is evaluated based on operating results. Adjustments to
reconcile segment results to consolidated results are included under the caption &#8220;Intercompany&#8221; which eliminates the effect
of transactions between the segments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s business consists of two reportable business segments:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education
                                            &#8212; entrepreneur education, management consultancy and business development tools.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10146;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus
                                            &#8212; resorts, retreats, and co-working cafes for entrepreneurs.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfOperatingSegmentsExplanatory"><p id="xdx_894_eifrs-full--DisclosureOfOperatingSegmentsExplanatory_zfGAR54kzhpb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
detailed segment information of the Company is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BD_zldvuVKHqLWd" style="display: none">SUMMARY OF DETAILED SEGMENT INFORMATION</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_492_20220101__20221231__ifrs-full--SegmentsAxis__custom--EducationMember_zzzpoKf6u4Gb" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_496_20220101__20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zKA9S7Ybt54i" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49C_20220101__20221231_zQ5dHXZ5n0Pf" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_493_20210101__20211231__ifrs-full--SegmentsAxis__custom--EducationMember_zngP9iASbVId" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_490_20210101__20211231__ifrs-full--SegmentsAxis__custom--CampusMember_ziJiVu7uo308" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49A_20210101__20211231_zRUouQb9cN5c" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="22" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
    the Years Ended December 31</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,193,616</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_401_eifrs-full--AdjustmentsForDepreciationAndAmortisationExpense_zGqJLGrzvzWf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
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  <tr id="xdx_40B_eifrs-full--ProfitLossFromOperatingActivities_i_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
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  <tr id="xdx_40A_eifrs-full--ProfitLossFromContinuingOperations_z9oIA83MaXOg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
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  <tr id="xdx_403_eifrs-full--InterestExpense_iN_pp0p0_di_zlGaYYgV7Li1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:InterestExpense" contextRef="From2022-01-012022-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">368,560</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:InterestExpense" contextRef="From2022-01-01to2022-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,312,476</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="ifrs-full:InterestExpense" contextRef="From2021-01-012021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">350,747</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_40C_ecustom--CapitalExpenditures_i_pp0p0" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capital
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2826">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2827">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2828">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2829">&#8212;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2830">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2831">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
    and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--SegmentsAxis__custom--EducationMember_z7sebPPIwOVa" title="Property and equipment, net"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">563,131</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eifrs-full--PropertyPlantAndEquipment_iI_c20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zqR8txD45Uel" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2834">&#8212;</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--PropertyPlantAndEquipment_iI_c20221231_zKkszQyHEi85" title="Property and equipment, net"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">563,131</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--SegmentsAxis__custom--EducationMember_zSHBMLuD4vAd" title="Property and equipment, net"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15,442</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--PropertyPlantAndEquipment_iI_c20211231__ifrs-full--SegmentsAxis__custom--CampusMember_zVxiJmN9IsM1" title="Property and equipment, net"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,760,674</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--PropertyPlantAndEquipment_iI_c20211231_z09l4IvkuFv7" title="Property and equipment, net"><ix:nonFraction name="ifrs-full:PropertyPlantAndEquipment" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,776,116</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Assets</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eifrs-full--Assets_iI_c20221231__ifrs-full--SegmentsAxis__custom--EducationMember_zHHlp9h3y1jk" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2022-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">88,120,390</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--Assets_iI_c20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zjEoUpPv2nu" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2022-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,139,237</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--Assets_iI_c20221231_zrdcDaaZBZQ1" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">91,259,627</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--Assets_iI_c20211231__ifrs-full--SegmentsAxis__custom--EducationMember_z9dOOaRn6Rh8" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2021-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,122,967</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eifrs-full--Assets_iI_c20211231__ifrs-full--SegmentsAxis__custom--CampusMember_zBYjh2NCmfrh" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,472,440</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eifrs-full--Assets_iI_c20211231_zfvXJgvWFFz6" title="Total Assets"><ix:nonFraction name="ifrs-full:Assets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,595,407</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--Liabilities_iI_c20221231__ifrs-full--SegmentsAxis__custom--EducationMember_zQA2kreUnVL9" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2022-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">71,656,141</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eifrs-full--Liabilities_iI_c20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zC43ohCoxwU2" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2022-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,648,650</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eifrs-full--Liabilities_iI_c20221231_zKAcTApBbrX9" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2022-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">77,304,791</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eifrs-full--Liabilities_iI_c20211231__ifrs-full--SegmentsAxis__custom--EducationMember_zr18UcnDc8T8" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2021-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,589,315</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eifrs-full--Liabilities_iI_c20211231__ifrs-full--SegmentsAxis__custom--CampusMember_zV6KnJmIfBWj" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,020,096</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eifrs-full--Liabilities_iI_c20211231_zhIUzYMSiyae" title="Total Liabilities"><ix:nonFraction name="ifrs-full:Liabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,609,411</ix:nonFraction></span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Rule-Page --><div style="font: 10pt Times New Roman, Times, Serif; width: 25%"><div style="border-top: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F09_zq6teO7sgZka" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(1)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1D_zHp74MqC9lAi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:footnote id="Footnote002867" xml:lang="en-US">Consists
                                            of $<span id="xdx_902_eifrs-full--DepreciationAndAmortisationExpense_c20220101__20221231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember__ifrs-full--SegmentsAxis__custom--EducationMember_zu3MnXCIsvai" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:DepreciationAndAmortisationExpense" contextRef="From2022-01-012022-12-31_ifrs-full_CostOfSalesMember_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">577,998</ix:nonFraction></span> (2021-$<span id="xdx_902_eifrs-full--DepreciationAndAmortisationExpense_c20210101__20211231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember__ifrs-full--SegmentsAxis__custom--EducationMember_zsLWHv20Plu3" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:DepreciationAndAmortisationExpense" contextRef="From2021-01-012021-12-31_ifrs-full_CostOfSalesMember_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">426,740</ix:nonFraction></span>) of Education segment depreciation and amortization which is included
                                            in cost of revenue and $<span id="xdx_90E_eifrs-full--OperatingExpense_c20220101__20221231__ifrs-full--SegmentsAxis__custom--EducationMember_z69npQbkhm95" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:OperatingExpense" contextRef="From2022-01-012022-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">667,217</ix:nonFraction></span> (2021-$<span id="xdx_903_eifrs-full--OperatingExpense_c20210101__20211231__ifrs-full--SegmentsAxis__custom--EducationMember_zje0fyrAB8bd" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:OperatingExpense" contextRef="From2021-01-012021-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">0</ix:nonFraction></span>) which is included in operating expenses in the
                                            accompanying statements of operations</ix:footnote></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F04_zv5GqX6Mcuwg">(2)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zCRWwjdwRfCh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:footnote id="Footnote002872" xml:lang="en-US">Consists
                                            of $<span id="xdx_90C_eifrs-full--DepreciationAndAmortisationExpense_c20220101__20221231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember__ifrs-full--SegmentsAxis__custom--CampusMember_zdhzHGVogy3j" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:DepreciationAndAmortisationExpense" contextRef="From2022-01-012022-12-31_ifrs-full_CostOfSalesMember_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">590,228</ix:nonFraction></span> (2021-$<span id="xdx_908_eifrs-full--DepreciationAndAmortisationExpense_c20210101__20211231__ifrs-full--AttributionOfExpensesByNatureToTheirFunctionAxis__ifrs-full--CostOfSalesMember__ifrs-full--SegmentsAxis__custom--CampusMember_zTLLEDsYzwc3" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:DepreciationAndAmortisationExpense" contextRef="From2021-01-012021-12-31_ifrs-full_CostOfSalesMember_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,109,309</ix:nonFraction></span>) of Campus segment depreciation and amortization which is included
                                            in cost of revenue and $<span id="xdx_906_eifrs-full--OperatingExpense_c20220101__20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zuCwYuSiMyig" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:OperatingExpense" contextRef="From2022-01-012022-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">515,197</ix:nonFraction></span> (2021-$<span id="xdx_90B_eifrs-full--OperatingExpense_c20210101__20211231__ifrs-full--SegmentsAxis__custom--CampusMember_zsTlcorb47h1" class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgREVUQUlMRUQgU0VHTUVOVCBJTkZPUk1BVElPTiAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__"><ix:nonFraction name="ifrs-full:OperatingExpense" contextRef="From2021-01-012021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,864</ix:nonFraction></span>) which is included in operating expenses in
                                            the accompanying statements of operations</ix:footnote></span></td></tr></table>

</ix:nonNumeric><p id="xdx_8A1_z2yeuVSnd6S6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.95pt 0pt 70.45pt; text-align: justify; text-indent: -20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.95pt 0pt 70.45pt; text-align: justify; text-indent: -20pt"></p>

<ix:exclude><!-- Field: Page; Sequence: 190; Value: 25 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: right; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.95pt 0pt 70.45pt; text-align: justify; text-indent: -20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfGeographicalAreasExplanatory"><p id="xdx_89E_eifrs-full--DisclosureOfGeographicalAreasExplanatory_zceMBwjqiWPd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of non-current assets (other than financial instruments) by geographic location appears below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B6_zo3yHbykCSs1" style="display: none">SUMMARY OF REVENUE AND NON-CURRENT ASSETS BY GEOGRAPHIC LOCATION</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_491_20221231__ifrs-full--SegmentsAxis__custom--EducationMember_zkRtqFZivB23" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49A_20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zdeMb3OPwLb" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_492_20221231_zgYHr1Jluw64" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49A_20211231__ifrs-full--SegmentsAxis__custom--EducationMember_z1MCpmXjTDt8" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_497_20211231__ifrs-full--SegmentsAxis__custom--CampusMember_zHWwFHFJoaK6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49C_20211231_z6wMbSFNY8tj" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="22" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
                                            the Years Ended December 31,</b></span></p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" contextRef="AsOf2021-12-31_custom_EducationMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">502,352</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" contextRef="AsOf2021-12-31_custom_CampusMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,596,893</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,099,245</ix:nonFraction></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of revenue by geographic location appears below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49D_20220101__20221231__ifrs-full--SegmentsAxis__custom--EducationMember_zp9ei3LEVwrh" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_49E_20220101__20221231__ifrs-full--SegmentsAxis__custom--CampusMember_zqTdKTHK5Zkk" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_497_20220101__20221231_zCQQSlxNrLu5" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_492_20210101__20211231__ifrs-full--SegmentsAxis__custom--EducationMember_zmsHUqq138Sb" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" id="xdx_497_20210101__20211231__ifrs-full--SegmentsAxis__custom--CampusMember_z62zC1KyndV" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="22" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
                                            the Years Ended December 31,</b></span></p></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Education</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Campus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    / Middle East / Africa</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-01-012022-12-31_custom_CampusMember_custom_EuropeMiddleEastAfricaMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,403,570</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-01-012022-12-31_custom_EuropeMiddleEastAfricaMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,260,763</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2021-01-012021-12-31_custom_EducationMember_custom_EuropeMiddleEastAfricaMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,948,567</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2021-01-012021-12-31_custom_CampusMember_custom_EuropeMiddleEastAfricaMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,554,828</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2021-01-012021-12-31_custom_EuropeMiddleEastAfricaMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,503,395</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_409_eifrs-full--Revenue_hifrs-full--GeographicalAreasAxis__srt--AsiaPacificMember_zQ2hvS5xcqH" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asia
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-01-012022-12-31_custom_EducationMember_srt_AsiaPacificMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,073,866</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="ifrs-full:Revenue" contextRef="From2022-01-012022-12-31_custom_CampusMember_srt_AsiaPacificMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,234,551</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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</ix:nonNumeric><p id="xdx_8AC_zIQQ0lb60vg5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-12-31" escape="true" name="ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory"><p id="xdx_801_eifrs-full--DisclosureOfEventsAfterReportingPeriodExplanatory_zGVqi5RRUTs7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">NOTE
34 &#8212; <span><span id="xdx_826_zKuqumI3cIB2">EVENTS AFTER THE REPORTING PERIOD</span></span></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible
Debt Obligations</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to December 31, 2022 and prior to the issuance of these financial statements, convertible debt obligations consisting of $<span id="xdx_903_eifrs-full--NotionalAmount_iI_pn5n6_c20230331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebtObligationMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zCDQzRP2VBw8" title="Principal amount"><ix:nonFraction name="ifrs-full:NotionalAmount" contextRef="AsOf2023-03-31_custom_ConvertibleDebtObligationMember_custom_NonadjustingEventMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">5.9</ix:nonFraction></span> million
of principal and accrued interest were converted into <span id="xdx_903_ecustom--NumberOfSharesConverted_pn5n6_c20230101__20230331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebtObligationMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zDgySyLVHC7a" title="Number of shares converted"><ix:nonFraction name="GNS:NumberOfSharesConverted" contextRef="From2023-01-012023-03-31_custom_ConvertibleDebtObligationMember_custom_NonadjustingEventMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="Shares">17.3</ix:nonFraction></span> million shares of Genius Group Ltd pursuant to conversion offers extended
by the Company. On March 29, 2023, the Company and Ayrton Capital amended the convertible debt agreement as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 0pt; background-color: white"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company will make the remainder of monthly payments it owes on the $<span id="xdx_90D_eifrs-full--Borrowings_iI_pn5n6_c20230329__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebtObligationMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zotPi0pg3U14"><ix:nonFraction name="ifrs-full:Borrowings" contextRef="AsOf2023-03-29_custom_ConvertibleDebtObligationMember_custom_NonadjustingEventMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">18.0</ix:nonFraction></span> million convertible
                                            note in cash over time, to ensure no further dilution of shares. As such, the Company will
                                            not be subject to any future installment-related accelerations at a variable price from the
                                            note, unless consented to by the Company.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company will deliver to Ayrton Capital, <span id="xdx_909_eifrs-full--NumberOfSharesIssued_iI_pn5n6_c20230331__ifrs-full--BorrowingsByNameAxis__custom--ConvertibleDebtObligationMember__ifrs-full--ComponentsOfEquityAxis__ifrs-full--OrdinarySharesMember__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zuqiYXurOBR1" title="Number of shares issued"><ix:nonFraction name="ifrs-full:NumberOfSharesIssued" contextRef="AsOf2023-03-31_custom_ConvertibleDebtObligationMember_ifrs-full_OrdinarySharesMember_custom_NonadjustingEventMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="Shares">13.0</ix:nonFraction></span> million ordinary shares relating to the redemption
                                            of convertible notes due for the period from January 2023 to March 2023.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ayrton
                                            Capital released the remaining restricted cash held in deposit to the Company during April
                                            2023.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Entrepreneur
Resorts Ltd Proposed Spinoff</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 55.9pt 0pt 50.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">Subsequent
to December 31, 2022, and prior to the issuance of these financial statements, shareholders have passed the resolution to authorize the
spinoff of its subsidiary Entrepreneur Resorts Ltd (ERL) and adoption of new Company constitution. ERL is a public listed company on
the Seychelles MERJ Stock Exchange, with <span id="xdx_90D_ecustom--PercentageOfOutstandingShares_pid_dp_c20230101__20230331__ifrs-full--NonadjustingEventsAfterReportingPeriodAxis__custom--NonadjustingEventMember_zmopUH5GulEg" title="Percentage of outstanding shares"><ix:nonFraction name="GNS:PercentageOfOutstandingShares" contextRef="From2023-01-012023-03-31_custom_NonadjustingEventMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">95</ix:nonFraction></span>%
of outstanding shares owned by Genius Group.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"></p>

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Resolution for Share Consolidation and Share Buyback</i></span></p>

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to December 31, 2022, and prior to the issuance of these financial statements, shareholders have passed the resolution to authorize board
to execute a share repurchase mandate and to execute a share consolidation as they deem fit.</span></p>

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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
20-F
(Mark
One)
☐
REGISTRATION
    STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
or
☒
ANNUAL
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the fiscal year ended
December 31
,
2022
or
☐
TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
or
☐
SHELL
    COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of event requiring this shell company report
For
the transition period from _____________________ to _____________________
Commission
file number:
001-41353
GENIUS
GROUP LIMITED
(Exact
name of Registrant as specified in its charter)
n/a
(Translation
of Registrant's name into English)
Singapore
(Jurisdiction
of incorporation or organization)
8
Amoy Street #01-01
,
Singapore
049950
(Address
of principal executive offices)
Roger
James Hamilton
, Chief Executive Officer
C/O
Greg Lavelle,
Puglisi
& Associates
850
Library Avenue, Suite 204
,
Newark
,
Delaware
,
19711
Telephone:
302
-
738-6680
Email:
info@geniusgroup.net
(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities
registered or to be registered pursuant to Section 12(b) of the Act.
Title
    of each class
Name
    of each exchange on which registered
Ordinary
    shares, no par value per share
The
NYSE
American LLC, Upstream
Securities
registered or to be registered pursuant to Section 12(g) of the Act: None
Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each
of the issuer's classes of capital or common stock as of the close of the period covered by the Annual Report: As of December 31,
2022, there were
27,705,227
shares of the registrant's ordinary shares, no par value per share, issued and outstanding.
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
☐
    Yes ☒
No
If
this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934.
☐
    Yes ☒
No
Note
– Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 from their obligations under those Sections.
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
☐
    Yes ☒
No
Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data
File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding
12 months (or for such shorter period that the registrant was required to submit and post such files).
☒
Yes
☐ No
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth
company. See definition of "large accelerated filer, "accelerated filer," and "emerging growth company"
in Rule 12b-2 of the Exchange Act.
Large
    accelerated filer ☐
Accelerated
    filer ☐
Non-accelerated
    filer
☒
Emerging
    growth company
☒
If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided
pursuant to Section 13(a) of the Exchange Act.
☐
†
The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards
Board to its Accounting Standards Codification after April 5, 2012.
Indicate
by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S.
    GAAP ☐
International Financial Reporting Standards
as issued by the International Accounting Standards Board ☒
Other
    ☐
If
"Other" has been checked in response to the previous question, indicate by check mark which financial statement item the
registrant has elected to follow. ☐ Item 17 ☐ Item 18
If
this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). ☐ Yes ☒
No
(APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate
by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. ☐ Yes ☐ No
A
BRIEF GLOSSARY
To
aid in the understanding the entities, acquisitions, products, services and certain other concepts referred to in this Annual Report,
the following non-exhaustive glossary of terms is provided:
AI
means Artificial Intelligence, which is a technology that enables machine learning, specifically in the case of Genius Group where
our Genie virtual assistant is able to recommend personalized steps for each student based on Genie learning the personal strengths,
passions, purpose, preferences and level of each student through their inputs on our Edtech platform.
Certification
refers to the digital courses on our GeniusU platform that faculty members take in order to be certified to mentor students on GeniusU,
and to be able to add their own courses and products to GeniusU.
City
Leader
refers to our mentors who host monthly events in their city to support the Students and mentors in their local area.
Convertible
Note Fund Raise or convertible note fund raise
refers to Post IPO fund raise by secured convertible note with proceeds of $17.0 million
for the face amount of $18.1 million in September, 2022.
E-Square
refers to E-Squared Education Enterprises (Pty) Ltd, a South African private limited company and one of the Acquisitions as defined
below.
Edtech
is an abbreviation of Educational Technology and refers to technology designed to improve the effectiveness, efficiency and experience
of the education process. Genius Group is focused on growing as an Edtech group with the ability to scale rapidly and operate globally.
Education
Angels
refers to Education Angels in Home Childcare Limited, a New Zealand private limited company and one of the Acquisitions as
defined below.
Genius
Group
(or the
Group
) refers to the entire group of companies within Genius Group, which include the four companies in the
Pre-IPO Group and, following the closing of their acquisitions, the five Acquisitions as defined below.
Entrepreneurs
Institute
refers to Wealth Dynamics Pte Ltd, a Singapore private limited company and one of the companies in the Pre-IPO Group.
Entrepreneur
Resorts
refers to Entrepreneur Resorts Limited, a Seychelles public listed company on the Seychelles Merj Stock Exchange (Ticker:
ERL). Entrepreneur Resorts was acquired by Genius Group in 2020.
Genius
Group Ltd
refers specifically to the holding company, Genius Group Limited, the Singapore public limited company which owns the other
companies in the Group. Prior to a corporate name change in July 2019, it was known as GeniusU Pte Ltd. For the avoidance of doubt, references
in this Annual Report to Genius Group Ltd with respect to periods prior to its July 2019 name change should be understood as references
to the company as operated under its previous name.
GeniusU
Ltd
refers to the company formed in August 2019 under the corporate name GeniusU Pte Ltd, and subsequently converted to a public
company, GeniusU Ltd in May 2021 (as distinct from its parent Genius Group Ltd, the current Group holding company, which until July 2019
used the name GeniusU Pte Ltd).
GeniusU
,
when used without any corporate suffix or otherwise not as part of a corporate name, refers to the Edtech platform including website,
mobile app, AI system, data and software system under the GeniusU brand.
IASB
refers to International Accounting Standards Board.
IFRS
refers to International Financial Reporting Standards as issued by IASB.
IPO
refers to the initial public offering of our ordinary shares that was consummated on April 14, 2022.
Acquisitions
refers to the five companies that we acquire following our IPO including Revealed Films acquired in Oct 2022.
Mentor
refers to our faculty members who have taken and passed Certifications on GeniusU.
Microcamp
refers to courses that are a combination of digital content on our GeniusU Edtech platform and live in-person courses conducted with
our mentors.
Microdegree
refers to the digital courses on our GeniusU Edtech platform. These are a combination of video, audio and text-based learning with
assessments and exercises that students can take in their own time, on their own or with the guidance of our faculty.
Microschool
refers to the scheduled, live digital courses on our GeniusU Edtech platform. These are similar in format to microdegrees but differ
in that they are conducted live together with other students and the guidance of our faculty, with live interaction, feedback and challenge-based
presentations, competitions and awards.
Partners
refer to all individuals who are creating, marketing, delivering or hosting courses on GeniusU and PIN, and all faculty members delivering
courses in all other Group companies.
Pre-IPO
Group
refers to the four companies which were already operating as a group in 2020 prior to our IPO on 14 April 2022, namely Genius
Group Ltd, GeniusU Ltd, Entrepreneurs Institute and Entrepreneur Resorts.
Property
Investors Network
(or
PIN
) refers to Property Investors Network Ltd combined with its sister company Mastermind Principles
Limited, a United Kingdom ("U.K.") private limited company and one of the Acquisitions as defined above.
Revealed
Films (
or
RF)
refers to Revealed Films Inc, US Corporation and one of the Acquisitions as defined above.
Students
refer to all individuals who have registered for courses in our Group companies. This is further divided into Free Students, who
have registered for free courses, and Paying Students, who have registered and paid for courses.
University
of Antelope Valley
(or
UAV
) refers to University of Antelope Valley, Inc., a California corporation and one of the Acquisitions
as defined above.
TABLE
OF CONTENTS
Page
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
6
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
6
ITEM 3. KEY INFORMATION
6
A. Reserved
6
B. Capitalization and Indebtedness
8
C. Reasons for the Offer and Use of Proceeds
8
D. Risk Factors
9
ITEM 4. INFORMATION ON THE COMPANY
35
A. History and Development of the Company
35
B. Business Overview
40
C. Organizational Structure
93
D. Property, Plants and Equipment
96
ITEM 4A. UNRESOLVED STAFF COMMENTS
97
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS
97
A. Operating Results
97
B. Liquidity and Capital Resources
108
C. Research and Development, Patents and Licenses, etc.
112
D. Trend Information
112
E. Critical Accounting Estimates
113
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
115
A. Directors and Senior Management
115
B. Compensation
117
C. Board Practices
117
D. Employees
119
E. Share Ownership
120
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
120
A. Major Shareholders
120
B. Related Party Transactions
121
C. Interests of Experts and Counsel
123
ITEM 8. FINANCIAL INFORMATION
123
A. Consolidated Statements and Other Financial Information
123
B. Significant Changes
123
ITEM 10. ADDITIONAL INFORMATION
124
A. Share Capital
124
B. Memorandum and Articles of Association
124
C. Material Contracts
124
D. Exchange Controls
127
E. Taxation
128
F. Dividends and Paying Agents
130
G. Statement by Experts
130
H. Documents on Display
131
I. Subsidiary Information
131
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
131
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
131
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
132
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS
132
ITEM 15. CONTROLS AND PROCEDURES
132
A. Disclosure Controls and Procedures
132
B.
Management's Annual Report on Internal Control over Financial Reporting
132
C. Changes in Internal Control Over Financial Reporting
133
ITEM 16. RESERVED
133
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT
133
ITEM 16B. CODE OF ETHICS
134
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES
134
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES
134
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS
135
ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
135
ITEM 16G. CORPORATE GOVERNANCE
135
ITEM 16H. MINE SAFETY DISCLOSURE
135
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
135
ITEM 17. FINANCIAL STATEMENTS
136
ITEM 18. FINANCIAL STATEMENTS
136
ITEM 19. EXHIBITS
136
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
Annual Report contains forward-looking statements regarding our current expectations or forecasts of future events. All statements other
than statements of historical facts contained in this Annual Report, including statements regarding our future results of operations
and financial position, business strategy, the GeniusU Platform, technology development plans, research and development costs, timing
and likelihood of success, as well as plans and objectives of management for future operations are forward-looking statements. Many of
the forward-looking statements contained in this Annual Report can be identified by the use of forward-looking words such as "anticipate,"
"believe," "could," "expect," "should," "plan," "intend," "estimate,"
"will" and "potential," among others.
Forward-looking
statements appear in a number of places in this Annual Report and include, but are not limited to, statements regarding our intent, belief
or current expectations. Forward-looking statements are based on our management's beliefs and assumptions and on information currently
available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those
expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified under
"
Item 3. Key Information—D. Risk Factors
." These forward-looking statements include:
●
our
                                            ability to compete in the highly competitive markets in which we operate, and potential adverse
                                            effects of this competition;
●
our
                                            ability to maintain revenues if our products and services do not achieve and maintain broad
                                            market acceptance, or if we are unable to keep pace with or adapt to rapidly changing technology,
                                            evolving industry standards and changing regulatory requirements;
●
uncertainty,
                                            downturns and changes in the markets we serve;
●
our
                                            expectations regarding the size of the global education market, Edtech market and the various
                                            geographic and demographic markets that our group of companies serve;
●
our
                                            competitiveness in the marketplace in relation to existing and new competitors in the marketplace;
●
our
                                            commercialization strategy, including our plans to acquire education companies, to combine
                                            them in a global curriculum and Edtech platform, and to digitize and distribute our courses
                                            globally;
●
our
                                            belief that we will be able to drive commercialization of our GeniusU Edtech platform through
                                            the growth of our A.I., and technology development;
●
our
                                            ability to effectively integrate our Pre-IPO Companies, Acquisitions in order to expand their
                                            product range and improve their financial performance;
●
the
                                            willingness of our Partners, mentors and Students to adopt GeniusU as their Edtech platform
                                            of choice;
●
our
                                            ability to effectively manage our anticipated growth;
●
the
                                            timing, scope or likelihood of regulatory submissions, filings, approvals, authorizations
                                            or clearances;
●
our
                                            ability to repay or service our debt obligations and meet the financial covenants related
                                            to such debt obligations;
●
our
                                            ability to enforce our intellectual property rights and to operate our business without infringing,
                                            misappropriating, or otherwise violating the intellectual property rights and proprietary
                                            technology of third parties;
●
our
                                            ability to develop and maintain effective internal controls over financial reporting;
●
our
                                            ability to attract, motivate and retain qualified employees, including members of our senior
                                            management team;
●
our
                                            expectations regarding the time during which we will be an emerging growth company under
                                            the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") and a foreign
                                            private issuer;
●
the
                                            future trading price of common shares and impact of securities analysts' reports on
                                            these prices;
●
our
                                            ability to fully derive anticipated benefits from existing or future acquisitions, joint
                                            ventures, investments or dispositions;
●
exchange
                                            rate fluctuations and volatility in global currency markets;
●
potential
                                            adverse tax consequences resulting from the international scope of our operations, corporate
                                            structure and financing structure; and
●
increased
                                            risks resulting from our international operations.
1
These
forward-looking statements speak only as of the date of this Annual Report and are subject to a number of risks, uncertainties and assumptions
described under the sections of this Annual Report titled
"Item 3. Key Information—D. Risk Factors"
and
"Item
5. Operating and Financial Review and Prospects"
and elsewhere in this Annual Report. Because forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control,
you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our
forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking
statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it
is not possible for management to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to
publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events,
changed circumstances or otherwise.
In
addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These
statements are based upon information available to us as of the date of this Annual Report, and while we believe such information forms
a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate
that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are
inherently uncertain and investors are cautioned not to unduly rely upon these statements.
SUMMARY
OF RISK FACTORS
The
following is a summary of certain, but not all, of the risks that could adversely affect our business, operations and financial results.
If any of the risks actually occur, our business could be materially impaired, the trading price of our common shares could decline,
and you could lose all or part of your investment.
Risks
Related to Our Business and Industry (All Group companies)
➢
We
                                            are a global business subject to complex economic, legal, political, tax, foreign currency
                                            and other risks associated with international operations, which risks may be difficult to
                                            adequately address.
➢
Our
                                            growth strategy anticipates that we will create new products, services, and distribution
                                            channels and expand existing distribution channels. If we are unable to effectively manage
                                            these initiatives, our business, financial condition, results of operations and cash flows
                                            would be adversely affected.
➢
Our
                                            growth may have a negative effect on the successful expansion of our business, on our people
                                            management, and on the increase in complexity of our software and platforms.
➢
If
                                            our growth rate decelerates significantly, our prospects and financial results would be adversely
                                            affected, preventing us from achieving profitability.
➢
We
                                            may be unable to recruit, train and/or retain qualified teachers, mentors, and other skilled
                                            professionals.
➢
Our
                                            business may be materially adversely affected if we are not able to maintain or improve the
                                            content of our existing courses or to develop new courses on a timely basis and in a cost-effective
                                            manner.
➢
Failure
                                            to attract and retain students to enroll in our courses and programs, and to maintain tuition
                                            levels, may have a material adverse impact on our business and prospects.
➢
If
                                            student performance falls or parent and student satisfaction declines, a significant number
                                            of students may not remain enrolled in our programs, and our business, financial condition
                                            and results of operations will be adversely affected.
➢
Our
                                            curriculum and approach to instruction may not achieve widespread acceptance, which would
                                            limit our growth and profitability.
➢
The
                                            continued development of our brand identity is important to our business. If we are not able
                                            to maintain and enhance our brand, our business and operating results may suffer.
➢
If
                                            our partnerships are unable to maintain educational quality, we may be adversely affected.
➢
There
                                            is significant competition in the market segments that we serve, and we expect such competition
                                            to increase; we may not be able to compete effectively.
2
➢
The
                                            COVID-19 pandemic has significantly negatively impacted segments of our business and may
                                            continue to do so.
➢
Our
                                            business and operations may be adversely affected by economic uncertainty and volatility
                                            in the financial markets, including as a result of the military conflict in Ukraine.
➢
Our
                                            business may be materially adversely affected by a general economic slowdown or recession.
➢
We
                                            may be sued for infringement of the intellectual property rights of others and such actions
                                            would be costly to defend, could require us to pay damages and could limit our ability or
                                            increase our costs to use certain technologies in the future.
➢
We
                                            cannot assure you that we will not be subject to liability claims for any inaccurate or inappropriate
                                            content in our training programs, which could cause us to incur legal costs and damage our
                                            reputation.
➢
We
                                            may be subject to legal liability resulting from the actions of third parties, including
                                            independent contractors and teachers, which could cause us to incur substantial costs and
                                            damage our reputation.
➢
We
  may not have sufficient insurance to protect ourselves against substantial losses.
➢
A
  cybersecurity attack or other security breach or incident could delay or interrupt service to our users and customers, harm our reputation
  or subject us to significant liability.
Risks
Related to Our Business and Industry
➢
We
                                            are a growing company with a limited operating history. If we fail to achieve further marketplace
                                            acceptance for our products and services, our business, financial condition and results of
                                            operations will be adversely affected.
➢
Our
                                            Edtech platform is technologically complex, and potential defects in our platforms or in
                                            updates to our platforms could be difficult or even impossible to fix.
➢
System
                                            disruptions, capacity constraints and vulnerability from security risks to our online computer
                                            networks could impact our ability to generate revenues and damage our reputation, limiting
                                            our ability to attract and retain students.
➢
Our
                                            current success and future growth depend on the continued acceptance of the Internet and
                                            the corresponding growth in users seeking educational services on the Internet.
➢
We
                                            are susceptible to the illegal or improper use of our content, Edtech and platform (whether
                                            from students, teachers, mentors, management personnel and other employees, or third parties),
                                            or other forms of misconduct, which could expose us to liability and damage our business
                                            and brand.
➢
We
                                            may be unable to manage and adapt to changes in technology.
➢
We
                                            must monitor and protect our Internet domain names to preserve their value.
➢
The
                                            long-term success of our campuses is highly dependent on our ability to effectively identify
                                            and secure appropriate sites for new resorts and cafes.
➢
Increases
                                            in labor costs, labor shortages, and any difficulties in attracting, motivating, and retaining
                                            well- qualified employees within the hospitality industry could have an adverse effect on
                                            our business, financial condition, and results of operations for our resorts and cafes.
Risks
Related to Our Business and Industry (Specific to Acquisitions)
➢
We
                                            have acquired the acquisitions and may pursue other strategic acquisitions or investments.
                                            The failure of an acquisition or investment (including but not limited to the Acquisitions)
                                            to be completed or to produce the anticipated results, or the inability to fully integrate
                                            an acquired company, could harm our business.
➢
The
                                            continued success of our Acquisitions depends initially on the value of the local brands
                                            of each of the companies and how we integrate those brands with Genius Group and GeniusU,
                                            which may be materially adversely affected by changes in current and prospective students'
                                            perceptions post-acquisition.
➢
Growing
                                            the certified education courses offered by our Acquisitions could be difficult for us.
3
➢
Our
                                            Acquisitions are subject to uncertain and varying laws and regulations, and any changes to
                                            these laws or regulations may materially adversely affect our business, financial condition
                                            and results of operations.
➢
Regulatory
                                            changes that affect the timing of government-sponsored student aid payments or receipt of
                                            government-sponsored financial aid could materially adversely affect our liquidity.
➢
The
                                            changing public perception and changes to government policies with respect to private schools
                                            may have a materially adverse impact on our Acquisitions and our overall plans to expand
                                            in the early learning, primary school, secondary school and university markets.
➢
The
                                            poor performance or reputation of other early learning schools or the industry as a whole
                                            could tarnish the reputation of our Acquisition, Education Angels, which could have a negative
                                            impact on its business.
➢
Changes
                                            in the demand for childcare and workplace solutions, which may be negatively affected by
                                            demographic trends and economic conditions, including unemployment rates, may affect Education
                                            Angels.
➢
The
                                            expansion of Education Angels, into certain markets including the United States may be negatively
                                            impacted by increased competition based on changes in government regulation and benefit programs.
➢
Our
                                            Acquisition, E-Square, may be negatively affected by the economic and political conditions
                                            in South Africa.
➢
Public
                                            perception and regulatory changes in the primary school and secondary school systems in countries
                                            that E-Square may expand to may have a materially adverse impact on the company.
➢
Our
                                            growth plans for E-Square and our plans to expand into the primary school and high school
                                            markets will be a complex and lengthy process where future success is not assured.
➢
If
                                            we cannot maintain student enrollments and maintain tuition levels in our Acquisition, UAV,
                                            the university's results of operations may be materially adversely affected.
➢
The
                                            reputation of UAV may be negatively influenced by the actions of other for-profit and private
                                            universities.
➢
The
                                            university and vocational college market is very competitive, and we may not be able to achieve
                                            our growth plans with UAV.
➢
If
                                            the graduates of UAV are unable to obtain professional licenses or certifications required
                                            for employment in their chosen fields of study, the university's reputation may suffer
                                            and we may face declining enrollments and revenues or be subject to student litigation.
➢
If
                                            the graduates of UAV do not meet possible future standards of "gainful employment,"
                                            this may negatively affect the university's reputation and access to government funding.
➢
Growing
                                            the online academic programs of UAV on the GeniusU Edtech platform could be difficult for
                                            us.
➢
If
                                            for-profit universities and colleges, which offer online education alternatives different
                                            from ours, perform poorly, it could tarnish the reputation of online education as a whole,
                                            which could impair UAV's ability to grow its business.
➢
Our
                                            growth plans for UAV and our plans to expand into the university and vocational college market
                                            in the United States and globally is a complex and lengthy process, exposing us to risks
                                            inherent in international growth.
➢
The
                                            course content of our Acquisition, PIN, requires ongoing updating based on the current government
                                            regulations and market conditions of the property market.
➢
The
                                            wide range of differences between the property markets in different countries may make it
                                            challenging for PIN to achieve its global expansion plan.
➢
The
                                            reputation of PIN may be negatively influenced by the actions of other property investing
                                            training companies and courses.
➢
The
                                            demand for digital documentaries in our acquisition, RF, may decline post Covid, which may
                                            impact our ability to attract the same level of audience and in turn the same level of revenue
                                            as during Covid.
➢
The
                                            increasing competition within both the online streaming market and online documentaries may
                                            make it challenging to achieve profitable growth for RF.
➢
The
                                            documentaries produced by RF rely on the topics remaining popular for a period of time. A
                                            shift in the popularity of the topics covered may have an adverse effect on the sales of
                                            RF's documentaries both at the time of launch and subsequently at the time of relaunch.
4
Risks
Related to Investing in a Foreign Private Issuer or a Singapore Company
➢
As
                                            a foreign private issuer, we are permitted to follow certain home country corporate governance
                                            practices in lieu of certain requirements under the NYSE American listing standards. This
                                            may afford less protection to holders of our ordinary shares than U.S. regulations.
➢
We
                                            are a foreign private issuer and, as a result, we are not subject to U.S. proxy rules and
                                            are instead subject to the Securities Exchange Act of 1934, as amended (the "Exchange
                                            Act") reporting obligations that, to some extent, are more lenient and less detailed
                                            than those for a U.S. issuer.
➢
We
                                            may lose our foreign private issuer status, which would then require us to comply with the
                                            Exchange Act's domestic reporting regime and cause us to incur additional legal, accounting
                                            and other expenses.
➢
We
                                            are a Singapore incorporated company, and it may be difficult to enforce a judgment of U.S.
                                            courts for civil liabilities under U.S. federal securities laws against us, our directors
                                            or officers in Singapore.
➢
We
                                            are incorporated in Singapore, and our shareholders may have more difficulty in protecting
                                            their interests than they would as shareholders of a corporation incorporated in the United
                                            States.
➢
We
                                            are subject to the laws of Singapore, which differ in certain material respects from the
                                            laws of the United States.
➢
Singapore
                                            take-over laws contain provisions that may vary from those in other jurisdictions.
➢
Subject
                                            to the general authority to allot and issue new ordinary shares provided by our shareholders,
                                            the Singapore Companies Act and our constitution, our directors may allot and issue new ordinary
                                            shares on terms and conditions and for such purposes as may be determined by our Board of
                                            Directors ("Board") in its sole discretion.
➢
We
                                            may be or become a passive foreign investment company, which could result in adverse U.S.
                                            federal income tax consequences to U.S. Holders.
➢
Singapore
                                            taxes may differ from the tax laws of other jurisdictions.
➢
Tax
                                            authorities could challenge the allocation of income and deductions among our subsidiaries,
                                            which could increase our overall tax liability.
Risks
Related to Ownership of Ordinary Shares
➢
The
                                            requirement that we repay the Convertible Note and interest thereon in cash under certain
                                            circumstances, and the restrictive covenants contained in the Convertible Note, could adversely
                                            affect our business plan, liquidity, financial condition, and results of operations.
➢
We
  may subject to default under our convertible note agreements that might limit our flexibility in managing the day to day operations
➢
Our
                                            assets and the assets of certain of our subsidiaries have been pledged as security for our
                                            obligations under the Convertible Note, and our default with respect to those obligations
                                            could result in the transfer of our assets to our creditor. Such a transfer could have a
                                            material adverse effect on our business, capital, financial condition, results of operations,
                                            cash flows and prospects.
➢
In
                                            the future, our ability to raise additional capital to expand our operations and invest in
                                            our business may be limited, and our failure to raise additional capital, if required, could
                                            impair our business.
➢
Our
                                            share price may be volatile, and the market price of our ordinary shares may drop.
➢
We
                                            have broad discretion over the use of proceeds we received in our IPO and may not apply the
                                            proceeds in ways that increase the value of our ordinary shares.
➢
A
                                            significant portion of our total outstanding shares may be sold into the public market in
                                            the near future, which could cause the market price of our ordinary shares to drop significantly,
                                            even if our business is doing well.
➢
If
                                            securities or industry analysts do not publish or cease publishing research or reports about
                                            us, our business, or our market, or if they change their recommendations regarding our ordinary
                                            shares adversely, our share price and/or trading volume could decline.
➢
We
                                            may not pay dividends on our ordinary shares in the future and, consequently, the investors'
                                            ability to achieve a return on their investment will depend on appreciation in the price
                                            of our ordinary shares.
➢
We
                                            currently report our financial results under IFRS, which differs in certain significant respects
                                            from U.S. GAAP.
➢
We
                                            are an emerging growth company within the meaning of the Securities Act of 1933, as amended
                                            (the "Securities Act"), and if we take advantage of certain exemptions from disclosure
                                            requirements available to emerging growth companies, this could make our securities less
                                            attractive to investors and may make it more difficult to compare our performance with other
                                            public companies.
➢
We
                                            incur significantly increased costs and devote substantial management time as a result of
                                            operating as a public company.
➢
If
                                            we fail to maintain an effective system of internal control over financial reporting in the
                                            future, we may not be able to accurately report our financial condition, results of operations
                                            or cash flows, which may adversely affect investor confidence.
➢
If
                                            we are not able to comply with the applicable continued listing requirements or standards
                                            of the NYSE American and Upstream, the NYSE American and/or Upstream could delist our ordinary
                                            shares.
➢
We
                                            are dual listed on NYSE American and Upstream and there may sometimes be share price differences
                                            between the two exchanges
➢
U.S.
                                            investors are currently permitted to trade (buy, sell or deposit) Upstream listed securities, via intermediate US broker (Boustead security) .
5
PART
I
Item
1. Identity of Directors, Senior Management and Advisers
Not
applicable.
Item
2. Offer Statistics and Expected Timetable
Not
applicable.
Item
3. Key Information
A.
Selected financial data
The
following tables set forth summarizes combined pro forma financial data and audited summary consolidated financial data for the periods
and as of the dates indicated. The summary combined unaudited pro forma financial data below includes the consolidated financials of
all companies in the Genius Group, including the Pre-IPO Group and the Acquisitions as if they were operating as one group in the periods
indicated. The pro forma financials for 2022 include the audited financial data of the Pre-IPO Group and Acquisitions from the audited
financials and the unaudited financial data of the Acquisitions.
The
summary income data for the years ended December 31, 2022 and 2021 and the summary balance sheet data as of December 31, 2022 and 2021
for the Group are derived from the audited consolidated financial statements included in this Annual Report. Our audited consolidated
financial statements have been prepared in U.S. dollars and in accordance with IFRS, as issued by the IASB. In addition, Audited financials are provided for the financial period ended September 30, 2022 for Revealed Films,
as it was a significant acquisition in October 2022.
6
Genius
Group is made up of nine companies (taking into account the Acquisitions) that have varying financial performance. For this reason, you
should read the summary combined pro forma financial data in conjunction with our audited consolidated financial statements and related
notes beginning on page F-1 of this Annual Report, and "Management's Discussion and Analysis of Financial Condition and Results
of Operations" included elsewhere in this Annual Report. Our historical results do not necessarily indicate our expected results
for any future periods.
Genius Group
Group
Pro forma
Audited Financials
Year Ended
Year Ended
December 31,
December 31,
2022
2022
2021
(USD 000's)
(USD 000's)
(USD 000's)
Sales
28,129
18,194
8,295
Cost of goods sold
(13,328
)
(9,555
)
(5,537
)
Gross profit
14,801
8,639
2,757
Other Operating Income
280
280
324
Operating Expenses
(57,013
)
(50,502
)
(7,250
)
Operating Loss
(41,932
)
(41,583
)
(4,168
)
Other income
1,172
419
0
Other Expense
(15,207
)
(15,151
)
(450
)
Net Loss Before Tax
(55,967
)
(56,315
)
(4,618
)
Tax Benefits
1,064
1,064
129
Net Loss After Tax
(54,903
)
(55,252
)
(4,489
)
Other Comprehensive Loss
(1,045
)
(1,045
)
230
Total Loss
(55,948
)
(56,297
)
(4,259
)
Net income per share, basic and diluted
(2.43
)
(2.44
)
(0.28
)
Weighted-average number of shares outstanding, basic and diluted
22,634,366
22,634,366
16,155,812
Genius Group
Group
Pro forma
Audited Financials
Year Ended
Year Ended
December 31,
December 31,
2022
2022
2021
(USD 000's)
(USD 000's)
(USD 000's)
Summary Balance Sheet Data:
Total current assets
24,251
24,251
6,496
Total non-current assets
67,009
67,009
11,099
Total Assets
91,260
91,260
17,595
Total current liabilities
23,378
23,378
7,140
Total non-current liabilities
53,927
53,927
2,469
Total Liabilities
77,305
77,305
9,609
Total Stockholders' Equity
13,955
13,955
7,986
Total Liabilities and Shareholders' Equity
91,260
91,260
17,595
Non-IFRS
Financial Measures — Adjusted EBITDA
We
have included Adjusted EBITDA in this Annual Report because it is a key measure used by our management and board of directors to understand
and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term
operational plans. In particular, the exclusion of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period
comparisons of our core business. Non-IFRS financial measures are not a substitute for IFRS financial measures.
We
calculate Adjusted EBITDA as Net loss for the period plus income taxes plus/ minus net finance result plus depreciation and amortization
plus/minus share-based compensation expenses plus bad debt provision. Share-based compensation expenses and bad debt provision are included
in General and administrative expenses in the Consolidated Statements of Operations.
Genius Group
Group
Pro forma
Audited Financials
Year Ended
Year Ended
December 31,
December 31,
2022
2022
2021
(USD 000's)
(USD 000's)
(USD 000's)
Net Loss
(54,903
)
(55,252
)
(4,489
)
Tax Benefits
(1,064
)
(1,064
)
(129
)
Interest Expense, net
1,325
1,312
450
Depreciation and Amortization
2,453
2,351
1,575
Impairment
28,246
28,246
—
Revaluation Adjustment of Contingent Liabilities
13,838
13,838
Stock Based Compensation
1,309
1,309
294
Bad Debt Provision
1,529
1,509
(39
)
Adjusted EBITDA
(7,267
)
(7,750
)
(2,338
)
7
Key
Business Metrics
Education
segment — Genius Group (including Acquisitions)
Key
                                            Business Metrics –
Education
                                            Segment
For
                                            the year ended December 31,
2022
2021
Number
    of students and users
4,450,852
2,825,628
Number
    of Free Students and users
4,278,933
2,768,530
Number
    of Paying Students and users
171,919
72,422
Number of Partners
14,760
11,414
Number of countries
    of operation
191
191
Marketing
    Spend
1,994,331
1,139,928
Education
    Revenue
23,469,609
25,468,253
Revenue
    from New Paying Students
10,164,848
7,377,236
New
    Students
1,640,698
890,328
New
    Paying Students
19,681
10,425
Conversion
    rate
1.20
%
1.17
%
Average
    Acquisition Cost per New Paying Student
101
109
Average
    Annual Revenue per New Paying Student
516
707
Net
    Income (Loss) margin
(172.07
)%
(4.56
)%
Adjusted
    EBITDA margin
(11.76
)%
4.10
%
Campus
segment – Entrepreneur Resorts
Key
                                            Business Metrics –
Campus
                                            Segment
For
                                            the year ended December 31,
2022
2021
Revenue
4,638,122
3,100,750
No
    of Locations
6
6
No
    of Seats/Rooms
367
367
Utilization
33
%
28
%
Total
    Orders
136,204
96,390
Revenue
    Per Order
34
32
B.
Capitalization and indebtedness
Not
applicable.
C.
Reasons for the offer and use of proceeds
Not
applicable.
8
D.
Risk Factors
Investing
in our ordinary shares is highly speculative and involves a significant degree of risk. You should carefully consider the following risks,
as well as other information contained in this Annual Report, before making an investment in our Company. The risks discussed below could
materially and adversely affect our business, prospects, financial condition, results of operations, cash flows, ability to pay dividends
and the trading price of our ordinary shares. Additional risks and uncertainties not currently known to us or that we currently deem
to be immaterial may also materially and adversely affect our business, prospects, financial condition, results of operations, cash flows
and ability to pay dividends, and you may lose all or part of your investment.
Going Concern
Pursuant to IAS 1, Presentation of Financial Statements, the
Company is required to and does evaluate at each annual and interim period whether there are conditions or events, considered in the aggregate,
that raise substantial doubt about its ability to continue as a going concern within one year after the date that the consolidated financial
statements are issued. Based on the definitions in the relevant accounting standards, and due
to recent changes in the Company's 2022 convertible loan terms in which company elected to pay all future payments in cash, negative
cash flows, and continued net losses, management has determined that without additional capital raised, in the next twelve months, there
is substantial doubt about the Company's ability to continue as a going concern.
The Company's consolidated financial statements as of
December 31, 2022 have been prepared on a going concern basis. Although the Company has taken, and plans to continue to take, proactive
measures to enhance its liquidity position and provide additional financial flexibility, including discussions with lenders and bankers,
there can be no assurance that these measures, including the timing and terms thereof, will be successful or sufficient.
The substantial doubt about the Company's ability to continue
as a going concern may negatively affect the price of the Company's common stock, may impact relationships with third parties with whom
the Company does business, including customers, vendors and lenders, may impact the Company's ability to raise additional capital or implement
its business plan.
Risks
Related to Our Business and Industry (All Group Companies)
We
are a global business subject to complex economic, legal, political, tax, foreign currency and other risks associated with international
operations, which risks may be difficult to adequately address.
In
2021 and 2022, over 90% of our revenues from the Pre-IPO Group were generated from operations outside of the United States. When including
the Acquisitions, over 50% of our pro forma revenues for Genius Group for these same periods were generated from operations outside of
the United States. Our GeniusU Edtech platform has students in 191 countries, each of which is subject to complex business, economic,
legal, political, tax and foreign currency risks. As we continue to expand our international operations with our Acquisitions, we may
have difficulty managing and administering a globally dispersed business and we may need to expend additional funds to, among other things,
staff key management positions, obtain additional information technology infrastructure and successfully implement relevant course and
program offerings for a significant number of international markets, which may materially adversely affect our business, financial condition
and results of operations.
Additional
challenges associated with the conduct of our business overseas that may materially adversely affect our operating results include:
➢
the
                                            large scale and diversity of our operational institutions present numerous challenges, including
                                            difficulty in staffing and managing foreign operations as a result of distance, language,
                                            legal, labor relations and other differences;
➢
each
                                            of our programs and services are subject to unique business risks and challenges including
                                            competitive pressures and diverse pricing environments at the local level;
➢
difficulty
                                            maintaining quality standards consistent with our brands and with local accreditation requirements;
➢
fluctuations
                                            in exchange rates, possible currency devaluations and currency controls, inflation and hyperinflation;
➢
difficulty
                                            selecting and monitoring partners in different jurisdictions;
➢
compliance
                                            with a wide variety of domestic and foreign laws and regulations;
➢
expropriation
                                            of assets by governments;
➢
political
                                            elections and changes in government policies;
➢
changes
                                            in tax laws, assessments or enforcement by taxing authorities in different jurisdictions;
➢
difficulty
                                            protecting our intellectual property rights overseas due to, among other reasons, the uncertainty
                                            of laws and enforcement in certain countries relating to the protection of intellectual property
                                            rights;
➢
lower
                                            levels of availability or use of the Internet, through which our online programs are delivered;
9
➢
limitations
                                            on the repatriation and investment of funds, foreign currency exchange restrictions and inability
                                            to transfer cash back to the United States without taxation;
➢
potential
                                            economic and political instability the countries in which we operate, including student unrest;
                                            or
➢
business
                                            interruptions from acts of terrorism, civil disorder, labor stoppages, public health risks,
                                            crime and natural disasters, particularly in areas in which we have significant operations.
Our
success in growing our business profitably will depend, in part, on the ability to anticipate and effectively manage these and other
risks related to operating in various countries. Any failure by us to effectively manage the challenges associated with the maintenance
or expansion of our international operations could materially adversely affect our business, financial condition and results of operations.
Our
growth strategy anticipates that we will create new products, services, and distribution channels and expand existing distribution channels.
If we are unable to effectively manage these initiatives, our business, financial condition, results of operations and cash flows would
be adversely affected.
As
we create new products, services, and distribution channels and expand our existing distribution channels, we expect to face challenges
distinct from those we currently encounter, including:
➢
The
                                            challenge of tailoring new products and services to new technologies as they develop, including
                                            artificial intelligence, augmented reality and virtual reality;
➢
Additional
                                            local competition as we localize our products and services to different countries, cultures
                                            and languages, each with new, local distribution channels;
➢
Changing
                                            student habits as new distribution channels for learning content are developed globally;
                                            and
➢
Unpredictable
                                            market behavior as the education market develops new distribution channels for learning outside
                                            the traditional school system, including via online courses and virtual learning.
Our
failure to manage these new distribution channels, or any new distribution channels we pursue, may have an adverse effect on our business,
financial condition, results of operations and cash flows.
Our
growth may have a negative effect on the successful expansion of our business, on our people management, and on the increase in complexity
of our software and platforms.
We
are currently experiencing a period of significant expansion and are facing a number of expansion related issues, such as the acquisition
and retention of experienced and talented personnel, cash flow management, corporate culture and internal controls, among others. These
issues and the significant amount of time spent on addressing them may result in the diversion of our management's attention from
other business issues and opportunities.
We
anticipate that these expansion related issues will increase with our Acquisitions and future growth. In addition, we believe that our
corporate culture and values are critical to our success, and we have invested a significant amount of time and resources building them.
If we fail to preserve our corporate culture and values, our ability to recruit, retain and develop personnel and to effectively implement
our strategic plans may be harmed.
We
must constantly update our software and platforms, enhance and improve our billing and transaction and other business systems, and add
and train new software designers and engineers, as well as other personnel to help us with the increased use of our platforms and the
new solutions and features we regularly introduce.
This
process is time intensive and expensive and may lead to higher costs in the future. Furthermore, we may need to enter into relationships
with various strategic partners, such as online service providers and other third parties necessary to our business. The increased complexity
of managing multiple commercial relationships could lead to execution problems that can affect current and future revenue, and operating
margins.
10
We
cannot assure you that our current and planned platforms, systems, products, procedures and controls, personnel and third-party relationships
will be adequate to support our future operations. In addition, our current expansion has placed a significant strain on management and
on our operational and financial resources, and this strain is expected to continue. Our failure to manage growth effectively could harm
our business, results of operations and financial condition.
If
our growth rate decelerates significantly, our prospects and financial results would be adversely affected, preventing us from achieving
profitability.
We
believe that our growth depends on a number of factors, including, but not limited to, our ability to:
➢
Integrate
                                            the Acquisitions into the Group;
➢
Continue
                                            to introduce our products and services to new markets;
➢
Provide
                                            high-quality support to students and partnerships using our products and services;
➢
Expand
                                            our business and increase our market share;
➢
Compete
                                            with the products, services, offers, prices and incentives offered by our competitors;
➢
Develop
                                            new products, services, offerings and technologies;
➢
Identify
                                            and acquire or invest in businesses, products, offerings or technologies that we believe
                                            may be able to complement or expand our platform; and
➢
Increase
                                            the positive perception of our brands.
We
may not be successful in achieving the above objectives. Any slowdown in the demand from students, teachers, mentors, and partnerships
for our products and services caused by changes in customer preferences, failure to maintain our brands, inability to expand our portfolio
of products or services, changes in the global economy, taxes, competition or other factors may lead to a decrease in revenue or growth
and our financial results and future prospects could be negatively affected. We expect that we will continue to incur significant expenses
as a result of our efforts to continue growing, and if we cannot increase our revenue at a faster rate than the increase in our expenses,
we will not be able to achieve profitability.
We
may be unable to recruit, train and/or retain qualified teachers, mentors, and other skilled professionals.
Effective
teachers and mentors are critical to maintaining the quality of our learning system and curriculum and assisting students with their
lessons. The educational content and materials we provide are a combination of content developed in-house, by our teachers, and our mentors.
Teachers and mentors must have strong interpersonal communications skills to be able to effectively instruct students, especially in
virtual settings. They must also possess the technical skills to use our technology-based learning systems and be willing to publish
their content on our platform.
Our
requirement for teachers at all levels has increased with the Acquisitions completed. There is a limited pool of qualified individuals
with these specialized attributes. We must also provide continuous training to teachers and mentors so that they can stay abreast of
changes in student demands, academic standards and other key trends necessary to teach online effectively. We may not be able to recruit,
train and retain enough qualified teachers and mentors to keep pace with our growth while maintaining consistent teaching quality and
robust platform content.
Shortages
of qualified teachers or mentors, or decreases in the quality of our instruction or the amount and quality of educational content we
can produce and offer as a result, whether actual or perceived, would have an adverse effect on our business.
Our
success also depends in large part on our senior management and key personnel as well as in general upon highly trained finance, technical,
recruiting and marketing professionals in order to operate our business, increase revenues from our existing products and services and
to launch new product offerings. If any of these employees leave us and we fail to effectively manage a transition to new personnel,
or if there is a shortage in the number of people with the requisite skills or we fail to attract and retain qualified and experienced
professionals on acceptable terms, our business, financial conditions and results of operations could be adversely affected.
11
Our
business may be materially adversely affected if we are not able to maintain or improve the content of our existing courses or to develop
new courses on a timely basis and in a cost-effective manner.
We
continually seek to maintain and improve the content of our existing courses and develop new courses in order to meet changing market
needs. Revisions to our existing courses and the development of new courses may not be accepted by existing or prospective students in
all instances. If we cannot respond effectively to market changes, our business may be materially adversely affected. Even if we are
able to develop acceptable new courses, we may not be able to introduce these new courses as quickly as students require or as quickly
as our competitors are able to introduce competing courses. If we do not respond adequately to changes in market requirements, our ability
to attract and retain students could be impaired and our financial results could suffer. This applies to most of our Pre-IPO Group companies
and Acquisitions.
Establishing
new courses or modifying existing courses also may require us to make investments in specialized personnel and capital expenditures,
increase marketing efforts and reallocate resources away from other uses. We may have limited experience with the subject matter of new
courses and may need to modify our systems and strategy. If we are unable to increase the number of students, offer new courses in a
cost-effective manner or otherwise manage effectively the operations of newly established courses, our business, financial condition
and results of operations could be materially adversely affected.
Failure
to attract and retain students to enroll in our courses and programs, and to maintain tuition levels, may have a material adverse impact
on our business and prospects
The
success of our business depends primarily on the number of student enrollments in the courses and programs we offer on our platform microschools,
and events, and the amount of our course and program fees. As a result, our ability to attract students to enroll in our courses and
programs is critical to the continued success and growth of our business. This, in turn, will depend on several factors, including, among
others, our ability to develop new educational programs and enhance existing educational programs to respond to the changes in market
trends, student demands and government policies, to maintain our consistent and high teaching quality, to market our programs successfully
to a broader prospective student base, to develop additional high-quality educational content, sites and availability of our platform
and to respond effectively to competitive market pressures.
If
our students or their parents perceive that our education quality deteriorated due to unsatisfying learning experiences, which may be
subject to a number of subjective judgments that we have limited influence over, our overall market reputation may diminish, which in
turn may affect our word-of-mouth referrals and ultimately our student enrollment. In addition, the expansion of our offering of courses
and services may not succeed due to competition, our failure to effectively market our new courses and services (whether due to defects
in our marketing tools and/or failure to adjust our strategy in order to meet the needs of current and potential customers), maintain
the quality of our courses and services, or other factors. We may be unable to develop and offer additional educational content on commercially
reasonable terms and in a timely manner, or at all, to keep pace with changes in market trends and student demands. If we are unable
to control the rate of student attrition, which can be affected by various factors outside our control such as students' personal
circumstances and local socioeconomic factors, our overall enrollment levels are likely to decline or if we are unable to charge tuition
rates that are both competitive and cover our rising expenses, our business, financial condition, cash flows and results of operations
may be materially adversely affected.
If
student performance falls or parent and student satisfaction declines, a significant number of students may not remain enrolled in our
programs, and our business, financial condition and results of operations will be adversely affected.
The
success of our business depends on a family's decision to have their child continue his or her education through our programs.
This decision is based on many factors, including student achievement and parent and student satisfaction. We expect that, as our enrollments
increase and the portion of students that have not used our learning system for multiple years increases, the average performance of
all students using our learning system may decrease, even if the individual performance of other students improves over time. Additionally,
parent and student satisfaction may decline as not all parents and students are able to devote the substantial time and energy necessary
to complete our curriculum. A student's satisfaction may also suffer if his or her relationship with the virtual schoolteacher
does not meet expectations. If a student's performance or satisfaction declines, students may decide not to remain enrolled in
one or more of our programs, financial condition and results of operations will be adversely affected.
12
Our
curriculum and approach to instruction may not achieve widespread acceptance, which would limit our growth and profitability.
Our
curriculum and approach to instruction are based on students learning how to "create a job" rather than "get a job."
The goal of this approach is to make students entrepreneurs. This approach, however, is not accepted by all students, academics and educators,
who may favor more traditional and formalistic methods, along with more traditional course offerings and curriculums. Accordingly, some
students, academics and educators are opposed to the principles and methodologies associated with our approach to learning and have the
ability to negatively influence the market for our products and services.
The
continued development of our brand identity is important to our business. If we are not able to maintain and enhance our brand, our business
and operating results may suffer.
Expanding
brand awareness is critical to attracting and retaining students, teachers, and mentors, and for serving additional jurisdictions. We
believe that the quality of our curriculum and management services has contributed significantly to the success of our brand. As we continue
to increase enrollments and extend our geographic reach, maintaining quality and consistency across all of our services and products
may become more difficult to achieve, and any significant and well-publicized failure to maintain this quality and consistency will have
a detrimental effect on our brand. We cannot provide assurances that our new sales and marketing efforts will be successful in further
promoting our brand in a competitive and cost-effective manner. If we are unable to further enhance our brand recognition and increase
awareness of our products and services, or if we incur excessive sales and marketing expenses, our business and results of operations
could be adversely affected.
Each
of our companies has worked hard to establish the value of its individual brand. Brand value may be severely damaged, even by isolated
incidents, particularly if the incidents receive considerable negative publicity. There has been a marked increase in use of social media
platforms, including weblogs (blogs), social media websites, and other forms of Internet-based communications that allow individuals
access to a broad audience of interested persons. We believe students and prospective teachers and mentors value readily available information
about our companies and programs and often act on such information without further investigation or authentication, and without regard
to its accuracy. Social media platforms and devices immediately publish the content their subscribers and participants post, often without
filters or checks on the accuracy of the content posted. Information concerning our Company and our programs may be posted on such platforms
and devices at any time. Information posted may be materially adverse to our interests, it may be inaccurate, and it may harm our performance
and prospects.
The
risk of damage or dilution of brand identity potentially increases during acquisitions, and this risk has increased since we have completed
the Acquisitions and may increase further as we are in the process of integration and expansion.
If
our partnerships are unable to maintain educational quality, we may be adversely affected.
Our
partnerships with institutions, such as universities, and other educational providers and their students are regularly assessed and classified
under the terms of applicable educational laws and regulations. If the partnerships or students receive lower scores from year to year
on any of their assessments, or if there is any drop in the acceptance rates of students into prestigious universities, we may be negatively
affected by perceptions of a decline in the educational quality of our content and Edtech platform, which could adversely affect our
reputation and, as a result, our operating results and financial condition.
13
There
is significant competition in the market segments that we serve, and we expect such competition to increase; we may not be able to compete
effectively.
Education
markets around the world are competitive and dynamic. We face varying degrees of competition from several discrete education providers
because our learning system integrates many of the elements of the education development and delivery process, including curriculum development,
teacher training and support, lesson planning, testing and assessment, and school performance and compliance management. We compete most
directly with companies that provide online curriculum and support services. Additionally, we expect increased competition from for-profit
post-secondary and supplementary education providers that have begun to offer virtual high school curriculum and services. In certain
jurisdictions and states where we currently serve virtual public schools, we expect intense competition from existing providers and new
entrants. Our competitors may adopt similar curriculum delivery, school support and marketing approaches, with different pricing and
service packages that may have greater appeal in the market. Both public and private not-for-profit institutions with whom we currently
or may in the future compete may have instructional and support resources superior to those in the for-profit sector, and public institutions
can offer substantially lower tuition prices or other advantages that we cannot match. If we are unable to successfully compete for new
business, acquire more companies, or maintain current levels of academic achievement and community interest, our revenue growth and operating
margins may decline. Price competition from our current and future competitors could also result in reduced revenues, reduced margins
or the failure of our product and service offerings to achieve or maintain more widespread market acceptance.
We
may also face direct competition from publishers of traditional educational materials that are substantially larger than we are and have
significantly greater financial, technical and marketing resources. As a result, they may be able to devote more resources to develop
products and services that are superior to our platform and technologies. We may not have the resources necessary to acquire or compete
with technologies being developed by our competitors, which may render our online delivery format less competitive or obsolete.
Our
future success will depend in large part on our ability to maintain a competitive position with our curriculum and our technology, as
well as our ability to increase capital expenditures to sustain the competitive position of our product. We cannot assure you that we
will have the financial resources, technical expertise, marketing, distribution or support capabilities to compete effectively.
Our
business and operations may be adversely affected by economic uncertainty and volatility in the financial markets, including as a result
of the military conflict in Ukraine.
Our
business and results of operations may be adversely affected by various factors that could cause economic uncertainty and volatility
in the financial markets, many of which are beyond our control. Our business could be impacted by, among other things, downturns in the
financial markets or in economic conditions, increases in oil prices, inflation, increases in interest rates, supply chain disruptions,
declines in consumer confidence and spending, and geopolitical instability, such as the military conflict in the Ukraine. We cannot at
this time fully predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which they may
negatively impact our business.
Our
business may be materially adversely affected by a general economic slowdown or recession.
Many
countries around the world have recently experienced reduced economic activity, increased unemployment, and substantial uncertainty about
their financial services markets and, in some cases, economic recession. These events may reduce the demand for our programs among students,
which could materially adversely affect our business, financial condition, results of operations and cash flows. These adverse economic
developments also may result in a reduction in the number of jobs available to our graduates and lower salaries being offered in connection
with available employment which, in turn, may result in declines in our placement and retention rates. Any general economic slowdown
or recession that disproportionately impacts the countries in which our companies and programs operate could have a material adverse
effect on our business, financial condition, results of operations and cash flows.
We
may be sued for infringement of the intellectual property rights of others, and such actions would be costly to defend, could require
us to pay damages and could limit our ability or increase our costs to use certain technologies in the future.
Companies
in the Internet, technology, education, curriculum and media industries own large numbers of patents, copyrights, trademarks and trade
secrets and frequently enter into litigation based on allegations of infringement or other violations of intellectual property rights.
As we grow, the likelihood that we may be subject to such claims also increases. Regardless of the merits, intellectual property claims
are often time- consuming and expensive to litigate or settle. In addition, to the extent claims against us are successful, we may have
to pay substantial monetary damages or discontinue any of our products, services or practices that are found to be in violation of another
party's rights. We also may have to seek a license and make royalty payments to continue offering our products and services or
following such practices, which may significantly increase our operating expenses.
14
We
cannot assure you that we will not be subject to liability claims for any inaccurate or inappropriate content in our training programs,
which could cause us to incur legal costs and damage our reputation.
We
develop the content for our training programs ourselves or through partnerships with third parties. We cannot assure you that there will
be no inaccurate or inappropriate materials included in our training programs or the materials we obtain from our third-party partners.
In addition, our mock examination questions designed internally based on our understanding of the relevant examination requirements may
be investigated by the regulatory authorities. Therefore, we may face civil, administrative or criminal liability if an individual or
corporate, governmental or other entity believes that the content of any of our training programs violate any laws, regulations or governmental
policies or infringes upon its legal rights. Even if such claim were not successful, defending it may cause us to incur substantial costs
including the time and attention of our management. Moreover, any accusation of inaccurate or inappropriate content could lead to significant
negative publicity, which could harm our reputation and future business prospects.
We
may be subject to legal liability resulting from the actions of third parties, including independent contractors and teachers, which
could cause us to incur substantial costs and damage our reputation.
We
may be subject, directly or indirectly, to legal claims associated with the actions of our independent contractors, teachers, and mentors.
In the event of accidents or injuries or other harm to students, we could face claims alleging that we were negligent, provided inadequate
supervision or were otherwise liable for their injuries. Additionally, we could face claims alleging that our independent curriculum
contractors or teachers infringed the intellectual property rights of third parties. A liability claim against us or any of our independent
contractors, teachers, or mentors could adversely affect our reputation, enrollment and revenues. Even if unsuccessful, such a claim
could create unfavorable publicity, cause us to incur substantial expenses and divert the time and attention of management.
We
may not have sufficient insurance to protect ourselves against substantial losses.
We
have insurance policies to provide coverage against certain potential risks, such as property damage and personal injury, as well as
director and officer insurance for our management team. However, we cannot guarantee that our insurance coverage will always be available
or will be sufficient to cover possible claims for these risks. In addition, there are certain types of risk that might not be covered
by our policies, such as war, acts of nature,
force majeure
or interruption of certain activities. Moreover, we might be obliged
to pay fines and other penalties in the event of delays in product delivery, and such penalties are not covered by our insurance policies.
Additionally, we may not be able to renew our current insurance policies under the same terms or at all. Risks not covered by our insurance
policies or the inability to renew policies on favorable terms or at all could adversely affect our business and financial condition.
Risks
Related to Our Business and Industry (Specific to Pre-IPO Group)
We
are a growing company with a limited operating history, and a history of operational losses. If we fail to achieve further marketplace
acceptance for our products and services, our business, financial condition and results of operations will be adversely affected.
We
began enrolling students on our Edtech platform in 2015. As a result, we have only a limited operating history upon which you can evaluate
our business and prospects. There can be no assurance that we will reduce our operational losses or achieve profitability as a group
in the near future, or that our products and services will achieve further marketplace acceptance. Our marketing efforts may not generate
a sufficient number of student enrollments to sustain our business plan; our capital and operating costs may exceed planned levels; and
we may be unable to develop and enhance our service offerings to meet the demands of our students and community to the extent that such
demands and preferences change. If we are not successful in managing our business and operations, our financial condition and results
of operations will be adversely affected.
15
Our
Edtech platform is technologically complex, and potential defects in our platforms or in updates to our platforms can be difficult or
even impossible to fix.
Our
Edtech platform is a technically complex product, and, when first introduced to new communities or when upgraded through new versions,
may contain software or hardware defects that are difficult to detect and correct. The existence of defects and delays in correcting
them can have adverse effects, such as, cancellation of subscriptions, delays in the receipt of payment, poor functioning of our platforms
and their content, failure to acquire new students, teachers, or mentors, or misuse of our platforms by third parties.
We
test new versions and upgrades to our Edtech platform, but we cannot ensure that all defects related to platform updates can be identified
before, or even after a new version of our platforms are made available. The correction of defects can be time-consuming, expensive and
difficult. Errors and security breaches of our products could expose us to product liability claims and damage our reputation, which
could have an adverse effect on our business, financial condition and results of operations.
System
disruptions, capacity constraints and vulnerability from security risks to our online computer networks could impact our ability to generate
revenues and damage our reputation, limiting our ability to attract and retain students.
The
performance and reliability of our technology infrastructure is critical to our reputation and ability to attract and retain students,
teachers, mentors, and our community. Any sustained system error or failure, or a sudden and significant increase in bandwidth usage,
could limit access to our learning system, and therefore, damage our ability to generate revenues. Our computer networks may also be
vulnerable to unauthorized access, computer hackers, computer viruses and other malware, and other security problems.
Moreover,
we host our products and serve our students, teachers, and mentors from a third-party data center facility, the security, facilities
management and communications infrastructure of which we do not control. While we are developing a risk mitigation plan, such a plan
may not be able to prevent a significant interruption in the operation of this facility or the loss of school and operational data due
to a natural disaster, fire, power interruption, act of terrorism or other unanticipated catastrophic event, or arising from other financial,
technical or operational difficulties encountered by our third-party vendor. Any such significant interruption, including one caused
by our failure to successfully expand or upgrade our systems or manage our transition to utilizing the expansions or upgrades, could
reduce our ability to manage our network and technological infrastructure and provide uninterrupted service, or be the occasion of loss
or theft of important customer data, any of which could result in liability, business interruption, lost sales, enrollment terminations
and reputational harm to us.
Our
current success and future growth depend on the continued acceptance of the Internet and the corresponding growth in users seeking educational
services on the Internet.
Our
business relies in part on the Internet for its success. A number of factors could inhibit the continued acceptance of the Internet,
or the commercial viability of the Internet's material role in our business model, and adversely affect our profitability, including:
➢
Inadequate
                                            Internet infrastructure;
➢
Security
                                            and privacy concerns;
➢
The
                                            unavailability of cost-effective Internet service and other technological factors; and
➢
Changes
                                            in U.S. or foreign government regulation of Internet use, which may relate to issues such
                                            as online privacy, copyrights, trademarks and service marks, sales taxes, fair business practices,
                                            and requirements that online education institutions qualify to do business as foreign corporations
                                            or be licensed in one or more jurisdictions where they have no physical location or other
                                            presence.
If
Internet use decreases, if the number of Internet users seeking educational services on the Internet does not increase, or if we become
subject to material additional costs as a result of regulatory changes affecting online education businesses, our business may not grow
as planned.
16
We
are susceptible to the illegal or improper use of our content, Edtech and platform (whether from students, teachers, mentors, management
personnel and other employees, or third parties), or other forms of misconduct, which could expose us to liability and damage our business
and brand.
Our
content, Edtech and platform are susceptible to unauthorized use, software license violations, copyright violations and unauthorized
copying and distribution, theft, employee fraud and other similar infractions and violations. Because we do not have full control over
how even authorized users will use our online platforms to communicate, such platforms may be misused for improper, malicious, objectionable
or illegal purposes. Such occurrences (whether originating from students, teachers, mentors, management personnel and other employees,
or third parties) can harm our business and consequently negatively affect our operating results. We could be required to expend significant
additional resources to deter, police against and combat improper use of our content, Edtech and platform, and still may be unsuccessful
in preventing such occurrences or identifying those responsible for any such misuse. Any failure to adequately protect against any such
illegal or improper use of our content, Edtech and platform could expose us to liability or reputational harm and could have a material
adverse effect on our business, financial condition and results of operations.
Our
brand image, reputation, business and results of operations may also be adversely affected by other forms of illegal or improper activities
of our management personnel and other employees, such as intentionally failing to comply with government regulations, engaging in deceptive
business and marketing practices, improper use of personal or sensitive information, or violations of anticorruption or similar laws.
The precautions we take to prevent and detect such activities may not be effective in preventing or mitigating them. Even where such
activities are unrelated to our business or the services provided by our management personnel or other employees to us, they may harm
our brands and reputation.
We
may be unable to manage and adapt to changes in technology.
We
will need to respond to technological advances and emerging industry standards in a cost-effective and timely manner in order to remain
competitive. The need to respond to technological changes may require us to make substantial, unanticipated expenditures. There can be
no assurance that we will be able to respond successfully to technological change.
We
must monitor and protect our Internet domain names to preserve their value.
We
own a wide range of domain names including our Edtech platform,
www.geniusu.com
(information contained on, or available through,
such website does not constitute part of, and is not deemed incorporated by reference into, this Annual Report). Third parties may acquire
substantially similar domain names that decrease the value of our domain names and trademarks and other proprietary rights which may
hurt our business. The regulation of domain names in the United States and foreign countries is subject to change.
Governing
bodies could appoint additional domain name registrars or modify the requirements for holding domain names. Governing bodies could also
establish additional "top-level" domains, which are the portion of the Web address that appears to the right of the "dot,"
such as "com," "gov," or "org." As a result, we may not maintain exclusive rights to all potentially
relevant domain names in the United States or in other countries in which we conduct business.
The
long-term success of our campuses is highly dependent on our ability to effectively identify and secure appropriate sites for new resorts
and cafes.
One
of our challenges in the growth of our Entrepreneur Resorts locations is locating and securing an adequate supply of suitable new resort
and cafe sites. Competition for desirable sites is intense, and other restaurant and retail concepts that compete for those sites may
have economic models that permit them to bid more aggressively for sites than we can. There is no guarantee that a sufficient number
of suitable sites will be available in desirable areas or on terms that are acceptable to us in order to achieve our growth plan or meet
our economic objectives in new or existing geographic markets. Our ability to identify, secure, and open new restaurant sites also depends
on other factors, many of which are likely to be more challenging if the COVID-19 pandemic again outbreaks.
17
Increases
in labor costs, labor shortages, and any difficulties in attracting, motivating, and retaining well- qualified employees within the hospitality
industry could have an adverse effect on our business, financial condition, and results of operations for our resorts and cafes.
Labor
is a significant component in the cost of operating our entrepreneur resorts and cafes. If we face labor shortages, particularly due
to recent labor shortages in the hospitality industry as a result of the pandemic, increased labor costs because of increased competition
for employees, higher employee turnover rates, inefficiency in scheduling our employees, increases in local minimum wage, or other employee
benefits costs (including costs associated with health insurance coverage), our operating expenses could increase and our growth could
be negatively impacted. Our success depends in part upon our ability to attract, motivate, and retain a sufficient number of well-qualified
resort and cafe operators and management personnel, as well as a sufficient number of other qualified employees, including customer service
and kitchen staff, to align with our expansion plans and multi-channel approach. Because of the busy nature of our restaurants, it is
critical that we have a high level of labor productivity and if we do not maintain high engagement or deployment in our restaurants (including
in new restaurants and in new markets), it could have an adverse effect on our business.
Risks
Related to Our Business and Industry (Specific to Acquisitions)
As
we have completed the Acquisitions, we may continue pursue other strategic acquisitions or investments. The failure of an acquisition
or investment (including but not limited to the Acquisitions) to be completed or to produce the anticipated results, or the inability
to fully integrate an acquired company, could harm our business.
We
may from time to time, as opportunities arise or economic conditions permit, acquire or invest in complementary companies or businesses
as part of our strategy to expand our operations, including through acquisitions or investments that may be material in size and/or of
strategic relevance. The success of an acquisition or investment will depend on our ability to make accurate assumptions regarding the
valuation, operations, growth potential, integration and other factors related to that business. We cannot assure you that our acquisitions
or investments will produce the results that we expect at the time we enter into or complete a given transaction.
Any
acquisition or investment involves a series of risks and challenges that could adversely affect our business, including the failure of
such acquisition to contribute to our commercial strategy or improve our image. We may be unable to generate the expected returns and
synergies on our investments. In addition, the amortization of acquired intangible assets could decrease our net profit and potential
dividends. We may face challenges in integrating acquired companies, which may result in the diversion of our capital and our management's
attention from other business issues and opportunities. We may be unable to create and implement uniform and effective controls, procedures
and policies, and we may incur increased costs for integrating systems, people, distribution methods or operating procedures.
We
may also be unable to integrate technologies of acquired businesses or retain key customers, executives and staff of the businesses acquired.
In particular, we may face challenges in integrating staff working across different geographies and that may be accustomed to different
corporate cultures, which would result in strained relations among existing and new personnel. We could also face challenges in negotiating
favorable collective bargaining agreements with unions due to differences in the negotiating procedures used in different regions. Finally,
we may pursue acquisitions where we acquire a majority stake in such acquisition, but with significant minority investors, or we may
become minority investors in certain operations, wherein our ability to effectively control and manage the business may be limited. If
we are unable to manage growth through acquisitions, our business and financial condition could be materially adversely affected.
In
addition, in connection with any future acquisition, we may face liabilities for contingencies related to, among others, (1) legal and/or
administrative proceedings of the acquired company, including civil, regulatory, labor, tax, social security, environmental and intellectual
property proceedings, and (2) financial, reputational and technical problems including those related to accounting practices, disclosures
in financial statements and internal controls, as well as other regulatory issues. These contingencies may not have been identified prior
to the acquisition and may not be sufficiently indemnifiable under the terms of the relevant acquisition agreement, which could have
an adverse effect on our business and financial condition. Even if contingencies are indemnifiable under the relevant acquisition agreement,
the agreed levels of indemnity may not be sufficient to cover actual contingencies as they materialize.
18
The
continued success of our Acquisitions depends initially on the value of the local brands of each of the companies and how we integrate
those brands with Genius Group and GeniusU, which may be materially adversely affected by changes in current and prospective students'
perceptions post-acquisition.
Each
of our Acquisitions has worked hard to establish the value of their individual brands. A merger or acquisition is a significant event
in any company's history, which may cause concern or trigger potentially negative commentary or criticism whether by staff members,
students or local communities. The perception of the changes and improvements we intend to implement with each Acquisition may have unintended
consequences which impact on the current brand value and reputation of each Acquisition. This may be materially adverse to our interests,
it may be inaccurate, and it may harm our performance, prospects and business.
Growing
the certified education courses offered by our Acquisitions could be difficult for us.
We
anticipate significant future growth from online courses we offer to students on GeniusU, integrating with our Acquisitions. The expansion
of our existing online programs, the creation of new online programs and the development of new fully online or hybrid programs may not
be accepted by students or our partners, or by government regulators or accreditation agencies. In addition, our efforts may be materially
adversely affected by increased competition in the online education market or because of problems with the performance or reliability
of our online program infrastructure. There is also increasing development of certified online programs by traditional schools universities,
both in the public and private sectors, which may have more consumer acceptance than programs we develop, because of lower pricing or
greater perception of value of their degrees in the marketplace, which may materially adversely affect our business, financial condition
and results of operations.
Our
Acquisitions are subject to uncertain and varying laws and regulations, and any changes to these laws or regulations may materially adversely
affect our business, financial condition and results of operations.
Three
of our Acquisitions are regulated to varying degrees and in different ways in each of the countries in which we operate an institution:
Education Angels, E-Square and UAV have licenses, approvals, authorizations, or accreditations from various governmental authorities
and accrediting bodies. These licenses, approvals, authorizations, and accreditations must be renewed periodically, usually after an
evaluation of the institution by the relevant governmental authorities or accrediting bodies. These periodic evaluations could result
in limitations, restrictions, conditions, or withdrawal of such licenses, approvals, authorizations or accreditations, which could have
a material adverse effect on our business, financial condition and results of operations. In addition, once licensed, approved, authorized
or accredited, some of our institutions may need approvals for new campuses or to add new degree programs.
All
of these regulations and their applicable interpretations are subject to change based on changing rules and regulations over time in
each country where we operate. Changes in applicable regulations may cause a material adverse effect on our business, financial condition
and results of operations.
Regulatory
changes that affect the timing of government-sponsored student aid payments or receipt of government-sponsored financial aid could materially
adversely affect our liquidity.
Two
of our Acquisitions, Education Angels and UAV, receive funding from the New Zealand and US Government, respectively. Education Angels
receives funding from the New Zealand Government for 50% of educator fees based on approval by the New Zealand Ministry of Education.
Students at UAV may qualify for financial aid funding through state and federal agencies. The majority of financial aid available to
UAV students is provided by the Federal Government and referred to as Title IV Aid. This includes the Federal Pell Grant, Federal Supplemental
Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), Federal Direct Loan Program, and Parent Loans for Undergraduate Students
(PLUS). Also, students may be eligible to participate in institutional or private loan programs that enable students to contribute to
his/her education while in college, and the university is also eligible to participate in several state agency programs.
Should
the governments in these countries, or in the countries of future acquisitions, change regulations that impact the timing or receipt
of government-sponsored student aid, this could materially adversely affect our liquidity as well as our business and results of operations,
and in turn affect our enrolment numbers.
19
The
changing public perception and changes to government policies with respect to private schools may have a materially adverse impact on
our Acquisitions and our overall plans to expand in the early learning, primary school, secondary school and university markets.
The
views taken by students, parents and the government on private schools vary from country to country and change over time. China imposed
restrictions on education companies that operated private tuition centers and Edtech companies providing private tutors in 2021. This
included a broad ban on private companies that teach the Chinese school curriculum from making profits, raising capital or going public.
While China's actions against private education institutions did not directly impact our Pre-IPO Group or Acquisitions, as less
than 1% of group revenues is generated from Chinese students, it is an indication of the negative impact a country can impose on private
education and there is a risk that other countries may follow a similar path. For example, the Indian government has expressed concern
about the rapid growth of for- profit, private education in the country. While this has not yet led to any restrictive regulations, it
has resulted in India's largest private Edtech startups setting up a self-regulatory industry group to draw up a code of conduct
to present to the government.
In
the United States, the Biden Administration has indicated that it wants higher scrutiny of for-profit colleges and universities to ensure
higher standards are met in order to qualify for government funding. While there has not yet been any concrete actions taken by the government
in this regard, should such actions be taken and imposed, this may materially adversely affect the revenues of our Acquisition, UAV,
in the event the university is not able to meet any new standards imposed. Any other such restrictions imposed in the future by governments
in the countries where we plan to expand to with our Acquisitions, or any negative changes in public perception towards for-profit education
companies in contrast to non-profit schools may negatively affect our Acquisitions' and Genius Group's business, financial
condition and results of operation.
The
poor performance or reputation of other early learning schools or the industry as a whole could tarnish the reputation of our Acquisition,
Education Angels, which could have a negative impact on its business.
With
reference specifically to our Acquisition, Education Angels, the company operates in a sector which does not have the same level of oversight
as Primary, Secondary and Tertiary education. For example, in most countries, including the U.S., license requirements to operate a childcare
business vary from state to state, while education standards during early learning are relatively relaxed when compared to the accreditation
and other standards required of primary schools, high schools and universities.
Similarly,
while educators at primary school, high school and university must be qualified as faculty, the standards within early learning are more
relaxed, with some childcare workers or assistants in the industry having few qualifications. This may result in poor performance of
some early learning operators, or in the early learning industry as a whole suffering from a poor reputation, and this in turn my cause
a material adverse effect on Education Angels' business and our ability to expand our early learning operations in certain countries
or states.
Changes
in the demand for childcare and workplace solutions, which may be negatively affected by demographic trends and economic conditions,
including unemployment rates, may affect our Acquisition, Education Angels.
The
target market for our Acquisition, Education Angels, is dual-income families or working single parents who are seeking an early learning
solution for their child that includes childcare. Different countries have different funding programs for early learning and childcare,
but in most cases the parents are required to pay for some or all childcare services. As a result, Education Angels is and will continue
to be dependent on this demographic segment to maintain and grow revenues. Changes in demographic trends, including the number of dual-income
or working single parent families in the workforce, inflation, personal disposable income and birth rates may impact the demand for Education
Angels' services.
Further,
a deterioration of general economic conditions, including rising unemployment, may adversely impact the demand for our services due to
the tendency of out-of-work parents to diminish or discontinue utilization of our services. Such changes could materially and adversely
affect Education Angels' business and operating results.
20
The
expansion of our Acquisition, Education Angels, into certain markets including the United States may be negatively impacted by increased
competition based on changes in government regulation and benefit programs.
Countries
from time to time change regulations with respect to childcare and early learning and while this may have a positive impact on our Acquisition,
Education Angels, it may also have a negative impact. For example, in the U.S., President Biden has recently proposed publicly funded
universal preschool for all three- and four-year-olds in partnerships with the states. The initial legislative drafts of the President's
proposal for a new federally funded preschool program allow private, for-profit entities to be eligible for participation, but do not
mandate such participation. It is unclear how the proposed legislation will progress in the current political and fiscal climate, or
how the states would implement the programs. Public programs such as this have the ability to either expand or shrink Education Angels'
ability to serve children in a country such as the U.S. The amount of public funding, the rates paid for early education programs, our
eligibility to be a provider and the terms and conditions of the programs could have either a positive or negative effect on our business,
financial condition and results of operations.
For
example, in the U.S., federal, state or local childcare and early education benefit programs relying primarily on subsidies in the form
of tuition assistance or tax credits could provide us with opportunities for expansion in new or existing markets. However, a federal,
state or local universal benefit such as preschool, if offered primarily or exclusively through public schools or non-profit entities,
could reduce the demand for private home-based education services and negatively impact the financial and operational model that we plan
to expand with Education Angels. If such programs were to significantly expand or our participation is reduced, it could have an adverse
effect on our business, financial condition or results of operations.
Our
Acquisition, E-Square, may be negatively affected by the economic and political conditions in South Africa.
Our
Acquisition, E-Square, operates in Port Elizabeth, South Africa, and relies on the ongoing economic health and political stability of
that country. In recent years South Africa has been affected by a weak economy and political instability. This deterioration in conditions
was compounded by the COVID-19 pandemic. The country is expecting to register economic growth of 1.1% in 2023. Such deterioration of
general economic conditions, including rising inflation and unemployment, may decrease demand for E-Square's courses and services
as parents opt for lower cost alternatives. Such changes could materially and adversely affect E-Square's business and operating
results.
Public
perception and regulatory changes in the primary school and secondary school systems in countries that E-Square may expand to may have
a materially adverse impact on the company.
The
primary school and second school systems in countries where we plan to expand the courses and programs of our Acquisition, E-Square,
are undergoing changes in public perception together with regulatory changes. For example, in the United Kingdom, government funding
of schools has dropped 8% in the last decade and public confidence in the high school exam system dropped during the COVID-19 Pandemic
after the government abolished all exams in 2020 and replaced them with teacher assessments.
In
August 2020 the government then used computer algorithms to reject 39% of teacher recommendations and downgrade student marks, and this
decision was in itself then overturned with the government reverting back to teacher assessments. Such mismanagement and the resulting
negative impact experienced by students and parents can lead to a negative perception and mistrust of the education system as a whole.
While
countries such as the United States may not have experienced mismanagement on the scale of the United Kingdom, there are signs that there
is increasing mistrust of the current primary school and high school system by parents, with discontent ranging from the conduct of school
boards and the policies of school districts to the content and the quality of education provided. The possible negative public perception
of the primary school and secondary school system as a whole can be seen as an opportunity for companies that can provide a superior
offering to parents and students, but it also can be a risk that may adversely affect E-Square's ability to expand into markets
where all schools, including new entrants, are appealing to a skeptical market with a low level of trust.
Our
growth plans for our Acquisition, E-Square, and our plans to expand into the primary school and high school markets will be a complex
and lengthy process where future success is not assured.
We
believe that the growth of our Pre-IPO Group has been supported by our strategy of focusing on adult entrepreneur training where government
regulation and curriculum requirements are far more relaxed than in the primary school and high school sectors. We believe the main reason
that there has not been a well- known and well-branded new global curriculum developed and accepted internationally since the International
Baccalaureate system in 1968 is the complex combination of government regulations, accreditations and curriculum standards that must
be met across multiple countries, together with the varying expectations of parents, students, employers, colleges and universities as
to what these schools must deliver.
21
We
have a staged growth plan which we explain in the "Our Genius Curriculum" section in this Annual Report, in which we plan
to begin by providing E-Square's courses as supplementary courses to the existing school system, delivered on the GeniusU platform,
and in which we view our aspiration of delivering our Genius Curriculum as a potential replacement option to the existing primary school
and high school system in countries we expand to, similar to how E-Square operates in South Africa, as a longer term goal. However, this
plan may be more complex and lengthier than we anticipate and based on the obstacles we face in the future as we expand globally the
future success of E-Square's growth is not assured.
If
we cannot maintain student enrollments and maintain tuition levels in our Acquisition, UAV, the university's results of operations
may be materially adversely affected.
Our
Acquisition, UAV, has historically been dependent on students from the Lancaster Valley and Greater Los Angeles area for enrolments.
We plan to expand on the student base by both attracting students globally to attend UAV and to deliver UAV's courses on the GeniusU
platform. We are, however, planning for UAV to maintain its current student enrollment and tuition levels through the same methods it
has employed historically.
As
a result, our strategy for growth and profitability of UAV depends, in part, upon maintaining these historic levels. Attrition rates
are often due to factors outside our control. Students sometimes face financial, personal or family constraints that require them to
drop out of university. They also are affected by local economic and social problems. In addition, our ability to attract and retain
students to UAV may require us to discount tuition from published levels, and may prevent us from increasing tuition levels at a rate
consistent with inflation and increases in our costs.
Post
COVID-19 pandemic, in the financial year 2021 and 2022, UAV saw a decline in its revenue. If we are unable to control the rate of student
attrition, our overall enrollment levels are likely to decline or if we are unable to charge tuition rates that are both competitive
and cover our rising expenses, our business, financial condition, cash flows and results of operations may be materially adversely affected.
The
reputation of our Acquisition, UAV, may be negatively influenced by the actions of other for-profit and private universities.
In
recent years, there have been a number of regulatory investigations and civil litigation matters targeting post-secondary for-profit
education institutions in the United States. These investigations and lawsuits have alleged, among other things, deceptive trade practices,
false claims against the United States and noncompliance with state and DOE regulations. These allegations have attracted adverse media
coverage and have been the subject of federal and state legislative hearings and investigations in the United States and in other countries.
Allegations against the post-secondary for-profit and private education sectors may affect general public perceptions of for-profit and
private educational institutions, including UAV, in a negative manner. Adverse media coverage regarding other for-profit or private educational
institutions or regarding us directly or indirectly could damage our reputation, reduce student demand for our programs, materially adversely
affect our revenues and operating profit or result in increased regulatory scrutiny.
The
university and vocational college market is very competitive, and we may not be able to achieve our growth plans with UAV.
The
university and vocational college markets, both in the United States and around the world, are highly fragmented and are very competitive
and dynamic. Currently our Acquisition, UAV, competes with traditional public and private colleges and universities and other proprietary
institutions, including those that offer online professional-oriented programs. Many of these institutions are larger, more widely known
and have more established reputations than UAV. Some of our competitors in both the public and private sectors may have greater financial
and other resources than we have and have operated in their markets for many years.
We
also anticipate potential competition from Edtech companies that prioritize open access education to students at university or certification
level. A number of these providers have been formed recently to provide online curriculum from leading academics at little or no cost
to the student. If this new modality is successful, it could disrupt the economics of the current education model (both for-profit and
not-for-profit institutions). Other competitors may include large, well-capitalized companies that may pursue a strategy similar to ours
of acquiring or establishing for-profit institutions.
22
Public
institutions receive substantial government subsidies, and public and private not-for-profit institutions have access to government and
foundation grants, tax-deductible contributions and other financial resources generally not available to for-profit institutions. Accordingly,
public and private not-for-profit institutions may have instructional and support resources superior to those in the for-profit sector,
and public institutions can offer substantially lower tuition prices or other advantages that we cannot match.
Any
of these large, well-capitalized competitors may make it more difficult for us to expand UAV as part of our growth strategy. They may
also be able to charge lower tuitions or attract more students, which would adversely affect our growth and the profitability of UAV.
There is also an increased ability of traditional universities to offer online programs and we expect competition to increase as the
online market matures. This may create greater pricing or operating pressure on us, which could have a material adverse effect on UAV's
enrollments, revenues and profit margins. We may not be able to compete successfully against current or future competitors and may face
competitive pressures that could have a material adverse effect on UAV's business and the financial condition and results of operations
for UAV and the operations of Genius Group focused on the university sector.
If
the graduates of our Acquisition, UAV, are unable to obtain professional licenses or certifications required for employment in their
chosen fields of study, the university's reputation may suffer and we may face declining enrollments and revenues or be subject
to student litigation.
UAV's
students require or desire professional licenses or certifications after graduation to obtain employment in their chosen fields. Their
success in obtaining such qualifications depends on several factors, including the individual merits of the student, whether the institution
and the program were approved by the relevant government or by a professional association, whether the program from which the student
graduated meets all governmental requirements and whether the institution is accredited. If one or more governmental authorities refuses
to recognize UAV's graduates for professional qualifications in the future based on factors relating to us or our programs, the
potential growth of our programs would be negatively affected, which could have a material adverse effect on our business, financial
condition and results of operations. In addition, we could be exposed to litigation that would force us to incur legal and other expenses
that could have a material adverse effect on our business, financial condition and results of operations.
If
the graduates of UAV do not meet possible future standards of "gainful employment", this may negatively affect the university's
reputation and access to government funding.
The
Biden Administration has recently expressed interest in reinstating the "Gainful Employment Rule" as a measure to hold universities
and colleges accountable for both the employment and earnings of graduating students. The Gainful Employment Rule was first issued in
2014 and was designed to ensure that career- education programs leave their graduates with debts that are affordable relative to their
actual incomes. It distinguishes between programs that provide affordable training that leads to well-paying jobs and those that do not,
based on the debt-to-income ratios of their graduates.
This
rule was rescinded by the previous US administration in 2019. The Biden Administration has proposed to reimpose the rule as a measure
by which the government may assess whether a university or college qualifies for federal funding. While no specifics have yet been agreed
or proposed, if such a rule was imposed, it would require all higher education institutions, including UAV, to provide the government
with information on completion rates, debt and other trends by program, with the possibility that government funding may become restricted
should thresholds not be met. In the event that UAV were to fall below any threshold set, this may negatively affect the university's
reputation or ability to access government funding, which in term could have a material adverse effect on UAV's business, financial
conditions and results of operation.
Growing
the online academic programs of UAV on GeniusU could be difficult for us.
After
the acquisition of UAV, we anticipate a higher future growth from online courses we offer to students from the second half of 2023. The
expansion of our existing online programs, the creation of new online programs and the development of new fully online or hybrid programs
may not be accepted by students or employers, or by government regulators or accreditation agencies. In addition, our efforts may be
materially adversely affected by increased competition in the online education market or because of problems with the performance or
reliability of our online program infrastructure. There is also increasing development of online programs by traditional universities,
both in the public and private sectors, which may have more consumer acceptance than programs we develop, because of lower pricing or
greater perception of value of their degrees in the marketplace, which may materially adversely affect our business, financial condition
and results of operations.
23
If
for-profit universities and colleges, which offer online education alternatives different from ours, perform poorly, it could tarnish
the reputation of online education as a whole, which could impair UAV's ability to grow its business.
For-profit
universities, many of which provide course offerings predominantly online, are under intense regulatory and other scrutiny, which has
led to media attention that has sometimes portrayed that sector in an unflattering light. Some for-profit online school operators have
been subject to governmental investigations alleging the misuse of public funds, financial irregularities, and failure to achieve positive
outcomes for students, including the inability to obtain employment in their fields.
These
allegations have attracted significant adverse media coverage and have prompted legislative hearings and regulatory responses. These
investigations have focused on specific companies and individuals, and even entire industries in the case of recruiting practices by
for-profit higher education companies. Even though we believe we can educate students and partners on our unique differences and culture
that sets us apart from these companies, this negative media attention may nevertheless add to skepticism about online higher education
generally, including our solutions.
The
precise impact of these negative public perceptions on our current and future business is difficult to discern. If these few situations,
or any additional misconduct, cause all Edtech and online learning programs to be viewed by the public or policymakers unfavorably, we
may find it difficult to grow UAV or attract additional students for UAV's programs. In addition, this perception could serve as
the impetus for more restrictive legislation, which could limit our future business opportunities. Moreover, allegations of abuse of
federal financial aid funds and other statutory violations against for-profit higher education companies could negatively impact our
opportunity to succeed due to increased regulation and decreased demand. Any of these factors could negatively impact our ability to
grow UAV and the university and vocational college segment of our business.
Our
growth plans for UAV and our plans to expand into the university and vocational college market in the United States and globally is a
complex and lengthy process, exposing us to risks inherent in international growth.
One
element of our growth strategy for UAV is to expand our international operations and establish a worldwide student base. We cannot guarantee
that our expansion efforts into international markets will be successful. The challenges in expanding the UAV model include the complexity
of converting elements of UAV's degree courses and certification courses into a suitable form on the GeniusU Edtech platform, the
need to gain accreditation and licenses in the various states and countries where this is required, and our ability to attract enough
suitably qualified faculty to deliver the courses both online and on campus.
We
have a staged growth plan for UAV which we explain in the "Our Genius Curriculum" section in this Annual Report, in which
we aim to grow gradually within the university and college sector through a gradual, staged process to ensure we overcome these challenges
effectively as we grow. However, this plan may be more complex and lengthier than we anticipate and based on the obstacles we face in
the future as we expand globally the future success of UAV's growth is not assured.
The
course content of our Acquisition, PIN, requires ongoing updating based on the current government regulations and market conditions of
the property market.
The
course content delivered by the Pre-IPO Group has historically been focused on entrepreneur skills, and while the courses are refreshed
annually, the majority of the leadership, sales, marketing, team development and financial management skills that are taught remain relevant
from one year to the next. Our Acquisition, PIN, has thrived by running courses and events where students can learn the most current
strategies that property investors are applying effectively to build their property portfolio. These strategies tend to be more dynamic
based on changing market trends, interest rates, financing opportunities and changes in government policies, incentives and restrictions.
While
this has historically been an opportunity for PIN, as its locally based city event model led by experienced property investors has enabled
it to deliver more relevant, up-to-date training and information than nationally delivered property investing courses, this requirement
to continually update and localize course content is a risk to the growth of PIN. If the company fails to innovate or maintain its relevance
in its course content, this may negatively affect the company's financial conditions and results of operation.
24
The
wide range of differences between the property markets in different countries may make it challenging for PIN to achieve its global expansion
plan.
While
PIN has an online student base that is in 52 countries, it has historically operated its events and city-based investor communities only
in the United Kingdom. This has been partly due to its focus on the United Kingdom market, and partly due to the complexities of providing
specific, practical market knowledge of the property markets in different countries. Our plan is to expand PIN's locally based
model to countries throughout the world with our GeniusU Edtech platform and global community. This plan is dependent on us replicating
PIN's success in attracting locally based property investors and professionals who are willing to share their expertise, experience
and opportunities in the countries we expand to. This may be more complex or take more time than we anticipate, which in turn may negatively
affect our expansion plans and our results of operation.
The
reputation of PIN may be negatively influenced by the actions of other property investing training companies and courses.
In
recent years, there have been a number of regulatory investigations and civil litigation matters targeting unethical or unprofessional
training companies or individuals providing advice on property investing or property trading. These have occurred in the United Kingdom,
the United States and other countries.
These
investigations and lawsuits have alleged, among other things, deceptive trade practices, false claims and unregulated financial advice.
These allegations have attracted adverse media coverage and have been the subject of federal and state legislative hearings and investigations
in the United States and in other countries. Allegations against this investment education sector and the actions of certain companies
in this sector may affect general public perceptions towards the sector in a negative manner. Adverse media coverage regarding other
training companies or regarding PIN directly or indirectly could damage our reputation, reduce student demand for our programs, materially
adversely affect our revenues and operating profit or result in increased regulatory scrutiny.
Change
of users behavior post Covid may impact our ability to continue and gain interest around our generated content at a level during Covid
, which might translate to lower number of users and revenue.
Revealed
Films generates multiple content films during the year, and sells them to specific audiences. Possible change of those user behaviors
, post Covid, who spend less time in front of digital media , might impact Revealed film's ability to continue and generate interest
around its newly published content which will translate to lower number of users and revenue. The possible decline in revenue may also
reduce the planned investment in new content that supports our lifelong learning curriculum.
Taxing
authorities may successfully assert that we have not properly collected or remitted, or in the future should collect or remit, sales
and use, gross receipts, value added, or similar taxes, or employment, payroll, or withholding taxes, and may successfully impose additional
obligations on us, and any such assessments, obligations, or inaccuracies could adversely affect our business, financial condition, and
results of operations.
The
application of non-income, or indirect, taxes, such as sales and use tax, value-added tax, goods and services tax, business tax, and
gross receipt tax, to businesses like ours is an evolving issue. Significant judgment is required on an ongoing basis to evaluate applicable
tax obligations, and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination
is uncertain because it is not clear how new and existing statutes might apply to our business. In addition, governments are looking
for ways to increase revenue, which has resulted in discussions about tax reform and other legislative action to increase tax revenue,
including through indirect taxes. Such taxes could adversely affect our financial condition and results of operations. We are subject
to indirect taxes, such as sales, use, value-added, and goods and services taxes, in the United States and other foreign jurisdictions,
and we do not collect and remit indirect taxes in all jurisdictions in which we operate on the basis that such indirect taxes are not
applicable to us. Certain jurisdictions in which we do not collect and remit such taxes may assert that such taxes are applicable, which
could result in tax assessments, including penalties and interest, and we may be required to collect such taxes in the future. A successful
assertion by one or more tax authorities requiring us to collect taxes in jurisdictions in which we do not currently do so or to collect
additional taxes in a jurisdiction in which we currently collect taxes could result in substantial tax liabilities, including taxes on
past sales, as well as penalties and interest, could discourage the use of our platform, could increase the cost for consumers using
our platform, or could otherwise harm our business, financial condition, and results of operations. Further, even when we are collecting
taxes and remitting them to the appropriate authorities, we may fail to accurately calculate, collect, report, and remit such taxes.
Additionally, one or more states, localities, or other taxing jurisdictions may seek to impose additional reporting, record-keeping,
or indirect tax collection obligations on businesses like ours. For example, taxing authorities in the United States and other countries
have identified ecommerce platforms as a means to calculate, collect, and remit indirect taxes for transactions taking place over the
internet, and are considering related legislation. As a result of these and other factors, the ultimate amount of tax obligations owed
may differ from the amounts recorded in our financial statements and any such difference may adversely affect our results of operations
in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.
25
Risks
                                            Related to Investing in a Foreign Private Issuer or a Singapore Company
As
a foreign private issuer, we are permitted to follow certain home country corporate governance practices in lieu of certain requirements
under the NYSE American listing standards. This may afford less protection to holders of our ordinary shares than U.S. regulations.
As
a foreign private issuer whose ordinary shares are listed on the NYSE American, we are permitted to follow certain home country corporate
governance practices in lieu of certain requirements under the NYSE American listing standards. A foreign private issuer must disclose
in its Annual Reports filed with the SEC each requirement under the NYSE American listing standards with which it does not comply, followed
by a description of its applicable home country practice. Our home country practices in Singapore may afford less protection to holders
of our ordinary shares. We may rely on exemptions available under the NYSE American listing standards to a foreign private issuer and
follow our home country practices in the future, and as a result, you may not be provided with the benefits of certain corporate governance
requirements of the NYSE American listing standards. As of the time of our listing on the NYSE American, we intend to rely on such an
exemption with respect to our quorum requirement for shareholder meetings, such that we will not be in compliance with the NYSE American's
standard of a quorum of at least 33 1∕3% of shares issued and outstanding and entitled to vote.
As
a foreign private issuer, we are not subject to U.S. proxy rules and are subject to Exchange Act reporting obligations that, to some
extent, are more lenient and less detailed than those of a U.S. issuer.
We
report under the Exchange Act as a foreign private issuer. Because we qualify as a foreign private issuer under the Exchange Act, we
will be exempt from certain provisions of the Exchange Act that are applicable to U.S. public companies, including: the sections of the
Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange
Act; the sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability
for insiders who profit from trades made in a short period of time; and the rules under the Exchange Act requiring the filing with the
SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8-K,
upon the occurrence of specified significant events. In addition, we will not be required to provide as detailed disclosure as a U.S.
registrant, particularly in the area of executive compensation. It is possible that some investors may not be as interested in investing
in our ordinary shares as the securities of a U.S. registrant that is required to provide more frequent and detailed disclosure in certain
areas, which could adversely affect our share price.
We
may lose our foreign private issuer status, which would then require us to comply with the Exchange Act's domestic reporting regime
and cause us to incur additional legal, accounting and other expenses.
In
order to maintain our current status as a foreign private issuer, either (1) a majority of our ordinary shares must be either directly
or indirectly owned of record by non-residents of the United States or (2) (a) a majority of our executive officers or directors must
not be U.S. citizens or residents, (b) more than 50 percent of our assets cannot be located in the United States and (c) our business
must be administered principally outside the United States. If we lost this status, we would be required to comply with the Exchange
Act reporting and other requirements applicable to U.S. domestic issuers, which are more detailed and extensive than the requirements
for foreign private issuers, including, but not limited to preparing our financial statements under GAAP. We may also be required to
make changes in our corporate governance practices in accordance with various SEC rules and the NYSE American and Upstream listing standards.
The regulatory and compliance costs to us under U.S. securities laws if we are required to comply with the reporting requirements applicable
to a U.S. domestic issuer may be higher than the cost we would incur as a foreign private issuer. As a result, we expect that a loss
of foreign private issuer status would increase our legal and financial compliance costs. We also expect that if we were required to
comply with the rules and regulations applicable to U.S. domestic issuers, it would make it more difficult and expensive for us to obtain
director and officer liability insurance. These rules and regulations could also make it more difficult for us to attract and retain
qualified Board members.
We
are a Singapore incorporated company and it may be difficult to enforce a judgment of U.S. courts for civil liabilities under U.S. federal
securities laws against us, our directors or officers in Singapore.
We
are incorporated under the laws of the Republic of Singapore, and certain of our directors are residents outside the United States. Moreover,
a significant portion of our consolidated assets are located outside of the United States. Although we are incorporated outside the United
States, we have agreed to accept service of process in the United States through our agent designated for that purpose. Nevertheless,
because a majority of the consolidated assets owned by us are located outside of the United States, any judgment obtained in the United
States against us may not be enforceable within the United States.
There
is no treaty in force between the United States and Singapore providing for the reciprocal recognition and enforcement of judgments in
civil and commercial matters and a final judgment for the payment of money rendered by any federal or state court in the United States
based on civil liability, whether or not predicated solely upon the federal securities laws, would, therefore, not be automatically enforceable
in Singapore. There is uncertainty as to whether judgments of courts in the United States based upon the civil liability of the federal
securities laws of the United States would be recognized or enforceable in Singapore. In addition, holders of book-entry interests in
our shares (for example, where such shareholders hold our shares indirectly through the Depository Trust Company) will be required to
be registered shareholders as reflected in our register of members in order to have standing to bring a shareholder action and, if successful,
to enforce a foreign judgment against us, our directors or our executive officers in the Singapore courts.
The
administrative process of becoming a registered shareholder could result in delays prejudicial to any legal proceedings or enforcement
action. Consequently, it may be difficult for investors to enforce against us, our directors or our officers in Singapore judgments obtained
in the United States which are predicated upon the civil liability provisions of the federal securities laws of the United States.
26
We
are incorporated in Singapore and our shareholders may have more difficulty in protecting their interests than they would as shareholders
of a corporation incorporated in the United States.
Our
corporate affairs are governed by our constitution and by the laws governing companies incorporated in Singapore. The rights of our shareholders
and the responsibilities of our Board members under Singapore law may be different from those applicable to a corporation incorporated
in the United States in material respects. Principal shareholders of Singapore companies do not owe fiduciary duties to minority shareholders,
as compared, for example, to controlling shareholders in corporations incorporated in Delaware. Our public shareholders may have more
difficulty in protecting their interests in connection with actions taken by our management, our Board members or our principal shareholders
than they would as shareholders of a corporation incorporated in the United States.
In
addition, only persons who are registered as shareholders in our register of members are recognized under Singapore law as shareholders
of our Company. Only registered shareholders have legal standing to institute shareholder actions against us or otherwise seek to enforce
their rights as shareholders. Investors in our shares who are not specifically registered as shareholders in our register of members
(for example, where such shareholders hold shares indirectly through the Depository Trust Company) are required to become registered
as shareholders in our register of members in order to institute or enforce any legal proceedings or claims against us, our directors
or our executive officers relating to shareholder rights. Holders of book-entry interests in our shares may become registered shareholders
by exchanging their book-entry interests in our shares for certificated shares and being registered in our register of members. Such
process could result in administrative delays which may be prejudicial to any legal proceeding or enforcement action.
We
are subject to the laws of Singapore, which differ in certain material respects from the laws of the United States.
As
a company incorporated under the laws of the Republic of Singapore, we are required to comply with the laws of Singapore, certain of
which are capable of extra-territorial application, as well as our constitution. In particular, we are required to comply with certain
provisions of the SFA, which prohibit certain forms of market conduct and information disclosures, and impose criminal and civil penalties
on corporations, directors and officers in respect of any breach of such provisions. In addition, the Singapore Code on Take-overs and
Mergers (the "Singapore Take-over Code"), specifies, among other things, certain circumstances in which a general offer is
to be made upon a change in control of a Singapore-incorporated public company, and further specifies the manner and price at which voluntary
and mandatory general offers are to be made.
The
laws of Singapore and of the United States differ in certain significant respects. The rights of our shareholders and the obligations
of our directors and officers under Singapore law may be different from those applicable to a company incorporated in the State of Delaware
in material respects, and our shareholders may have more difficulty and less clarity in protecting their interests in connection with
actions taken by our management, members of our board of directors or our controlling shareholders than would otherwise apply to a company
incorporated in the State of Delaware. See "Comparison of Shareholder Rights" for a discussion of certain differences between
Singapore and Delaware corporation law.
In
addition, the application of Singapore law, in particular, the Companies Act 1967 of Singapore (the "Singapore Companies Act"),
may, in certain circumstances, impose more restrictions on us, our shareholders, directors and officers than would otherwise be applicable
to a company incorporated in the State of Delaware. For example, the Singapore Companies Act requires a director to act with a reasonable
degree of diligence in the discharge of the duties of his office and, in certain circumstances, imposes criminal liability for specified
contraventions of particular statutory requirements or prohibitions. In addition, pursuant to the provisions of the Singapore Companies
Act, shareholders holding 10% or more of the total number of paid-up shares as at the date of the deposit carrying the right of voting
at general meetings (disregarding paid-up shares held as treasury shares) may by depositing a requisition, require our directors to convene
an extraordinary general meeting. If our directors do not within 21 days after the date of deposit of the requisition proceed to convene
a meeting, the requisitioning shareholders, or any of them representing more than 50% of the total voting rights represented of all of
them, may proceed to convene such meeting, and we will be liable for the reasonable expenses incurred by such requisitioning shareholders.
We are also required by the Singapore Companies Act to deduct corresponding amounts from fees or other remuneration payable by us to
such of the directors as are in default.
27
Singapore
take-over laws contain provisions that may vary from those in other jurisdictions.
The
Singapore Take-over Code applies to, among others, corporations with a primary listing of their equity securities in Singapore. While
the Singapore Take-over Code is drafted with, among others, listed public companies in mind, unlisted public companies with more than
50 (fifty) shareholders and net tangible assets of S$5.0 million or more, must also observe the letter and spirit of the general principles
and rules of the Singapore Take-over Code, wherever this is possible and appropriate. Public companies with a primary listing overseas
may apply to Securities Industry Council ("SIC") to waive the application of the Singapore Take-over Code. As at the date
of this Annual Report, no application has been made to SIC to waive the application of the Singapore Take-over Code in relation to us.
In
this regard, the Singapore Take-over Code contains certain provisions that may possibly delay, deter or prevent a future take-over or
change in control of us. Under the Singapore Take-over Code, except with the consent of the SIC, any person acquiring an interest, whether
by a series of transactions over a period of time or not, either on his own or together with parties acting in concert with him, in 30%
or more of our voting shares is required to extend a take-over offer for all remaining voting shares in accordance with the procedural
and other requirements under the Singapore Take-over Code. Except with the consent of the SIC, such a take-over offer is also required
to be made if a person holding between 30% and 50% (both inclusive) of our voting shares, either on his own or together with parties
acting in concert with him, acquires additional voting shares representing more than 1% of our voting shares in any six-month period.
While the Singapore Take-over Code seeks to ensure an equality of treatment among shareholders in take-over or merger situations, its
provisions could substantially impede the ability of our shareholders to benefit from a change of control and, as a result, may adversely
affect the market price of our ordinary shares and the ability to realize any benefits from a potential change of control.
Subject
to the general authority to allot and issue new ordinary shares provided by our shareholders, the Singapore Companies Act and our constitution,
our directors may allot and issue new ordinary shares on terms and conditions and for such purposes as may be determined by our Board
in its sole discretion.
Under
Singapore law, we may only allot and issue new shares with the prior approval of our shareholders in a general meeting. Subject to the
general authority to allot and issue new ordinary shares provided by our shareholders, the provisions of the Singapore Companies Act
and our constitution, we may allot and issue new ordinary shares on such terms and conditions and for such purposes as may be determined
by our Board in its sole discretion. Any additional issuances of new ordinary shares may dilute our shareholders' percentage ownership
interests in our ordinary shares and/or adversely impact the market price of our ordinary shares.
We
may be or become a passive foreign investment company, which could result in adverse U.S. federal income tax consequences to U.S. Holders.
The
rules governing passive foreign investment companies ("PFICs") can have adverse effects for U.S. federal income tax purposes.
The tests for determining PFIC status for a taxable year depend upon the relative values of certain categories of assets and the relative
amounts of certain kinds of income. The determination of whether we are a PFIC, which must be made annually after the close of each taxable
year, depends on the particular facts and circumstances (such as the valuation of our assets, including goodwill and other intangible
assets) and may also be affected by the application of the PFIC rules, which are subject to differing interpretations. The fair market
value of our assets is expected to relate, in part, to (a) the market price of our ordinary shares and (b) the composition of our income
and assets, which will be affected by how, and how quickly, we spend any cash that is raised in any financing transaction. Moreover,
our ability to earn specific types of income that we currently treat as non-passive for purposes of the PFIC rules is uncertain with
respect to future years. Because the value of our assets for purposes of determining PFIC status will depend in part on the market price
of our ordinary shares, which may fluctuate significantly. We do not expect to be a PFIC for our current taxable year or in the foreseeable
future. However, there can be no assurance that we will not be considered a PFIC for any taxable year.
If
we are a PFIC, a U.S. Holder (defined below) would be subject to adverse U.S. federal income tax consequences, such as ineligibility
for any preferred tax rates on capital gains or on actual or deemed dividends, interest charges on certain taxes treated as deferred,
and additional reporting requirements under U.S. federal income tax laws and regulations. A U.S. Holder may in certain circumstances
mitigate adverse tax consequences of the PFIC rules by filing an election to treat the PFIC as a qualified electing fund ("QEF")
or, if shares of the PFIC are "marketable stock" for purposes of the PFIC rules, by making a mark-to- market election with
respect to the shares of the PFIC. We do not intend to comply with the reporting requirements necessary to permit U.S. Holders to elect
to treat us as a QEF. If a U.S. Holder makes a mark- to-market election with respect to its ordinary shares, the U.S. Holder is in its
U.S. federal taxable income an amount reflecting any year end increase in the value of its ordinary shares. For purposes of this discussion,
a "U.S. Holder" is a beneficial owner of ordinary shares that is for U.S. federal income tax purposes: (i) an individual
who is a citizen or resident of the United States; (ii) a corporation (or other entity taxable as a corporation for U.S. federal income
tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; (iii) an
estate the income of which is subject to U.S. federal income taxation regardless of its source; or (iv) a trust (a) if a court within
the U.S. can exercise primary supervision over its administration, and one or more U.S. persons have the authority to control all of
the substantial decisions of that trust, or (b) that was in existence on August 20, 1996, and validly elected under applicable Treasury
Regulations to continue to be treated as a domestic trust.
28
Investors
should consult their own tax advisors regarding all aspects of the application of the PFIC rules to the ordinary shares.
Singapore
taxes may differ from the tax laws of other jurisdictions.
Prospective
investors should consult their tax advisors concerning the overall tax consequences of purchasing, owning and disposing of our shares.
Singapore tax law may differ from the tax laws of other jurisdictions, including the United States.
Tax
authorities could challenge the allocation of income and deductions among our subsidiaries, which could increase our overall tax liability.
We
are organized in Singapore, and we currently have subsidiaries in the United States, United Kingdom, New Zealand, South Africa, and Indonesia.
As we grow our business, we expect to conduct increased operations through our subsidiaries in various jurisdictions. If two or more
affiliated companies are located in different jurisdictions, the tax laws or regulations of each country generally will require transactions
between those affiliated companies to be conducted on terms consistent with those between unrelated companies dealing at arm's
length, and appropriate documentation generally must be maintained to support the transfer prices. We maintain our transfer pricing policies
to be compliant with applicable transfer pricing laws, but our transfer pricing procedures are not binding on applicable tax authorities.
If
tax authorities were to successfully challenge our transfer pricing, there could be an increase in our overall tax liability, which could
adversely affect our financial condition, results of operations and cash flows. In addition, the tax laws in the jurisdictions in which
we operate are subject to differing interpretations.
Tax
authorities may challenge our tax positions, and if successful, such challenges could increase our overall tax liability. In addition,
the tax laws in the jurisdictions in which we operate are subject to change. We cannot predict the timing or content of such potential
changes, and such changes could increase our overall tax liability, which could adversely affect our financial condition, results of
operations and cash flows.
Risks
Related to Ownership of Ordinary Shares and Convertible Note Raise
In
the future, our ability to raise additional capital to expand our operations and invest in our business may be limited, and our failure
to raise additional capital, if required, could impair our business.
While
we currently anticipate that our available funds will be sufficient to meet our cash needs for at least the next 12 months, we may need
or elect to seek additional financing at any time. Our ability to obtain financing will depend on, among other things, our development
efforts, business plans, operating performance and condition of the capital markets at the time we seek financing. If we need or elect
to raise additional funds, we may not be able to obtain additional debt or equity financing on favorable terms, if at all. If we raise
additional equity financing, our shareholders may experience significant dilution of their ownership interests and the per-share value
of our ordinary shares could decline. If we engage in additional debt financing, we may be required to accept terms that further restrict
our ability to incur additional indebtedness and force us to maintain specified liquidity or other ratios and limit the operating flexibility
of our business. If we need additional capital and cannot raise it on acceptable terms, we may not be able to, among other things:
➢
Fund
                                            our operating capital requirements as we grow;
➢
Continue
                                            to grow by acquiring companies;
➢
Retain
                                            the leadership team and staff required;
➢
Repay
                                            our liabilities as they come due; and
➢
Make
                                            the necessary investments in our Edtech platform.
29
Our
share price may be volatile, and the market price of our ordinary shares may drop below the price you pay.
Market
prices for securities of newly public companies have historically been particularly volatile in response to various factors, some of
which are beyond our control. As a result of this volatility, you may not be able to sell your ordinary shares at or above the price
you pay for your shares. Some of the factors that may cause the market price for our ordinary shares to fluctuate include:
➢
Actual
                                            or anticipated fluctuations in our key operating metrics, financial condition and operating
                                            results;
➢
Loss
                                            of current long-term contracts;
➢
Actual
                                            or anticipated changes in our growth rate;
➢
Competitors
                                            developing more advanced technology attracting our customers;
➢
Our
                                            announcement of actual results for a fiscal period that are lower than projected or expected
                                            or our announcement of revenue or earnings guidance that is lower than expected;
➢
Changes
                                            in estimates of our financial results or recommendations by securities analysts;
➢
Changes
                                            in market valuations of similar companies;
➢
Changes
                                            in our capital structure, such as future issuances of securities or the incurrence of debt;
➢
Announcements
                                            by us or our competitors of significant products or services, contracts, acquisitions or
                                            strategic alliances;
➢
Regulatory
                                            developments in Singapore, the United States or other countries;
➢
Actual
                                            or threatened litigation involving us or our industry;
➢
Additions
                                            or departures of key personnel;
➢
General
                                            trends in the education industry as a whole;
➢
Share
                                            price and volume fluctuations attributable to inconsistent trading volume levels of our shares;
➢
Further
                                            issuances of ordinary shares by us;
➢
Sales
                                            or ordinary shares by our shareholders;
➢
Repurchases
                                            of ordinary shares; and
➢
Changes
                                            in general economic, industry and market conditions.
In
addition, the stock market in general, and the market for education companies in particular, has experienced extreme price and volume
fluctuations that have often been unrelated or disproportionate to the operating performance of those companies. Securities class action
litigation has often been instituted against companies following periods of volatility in the overall market and in the market price
of a company's securities. This litigation, if instituted against us, could result in very substantial costs, divert our management's
attention and resources, and harm our business, operating results and financial condition. In addition, recent fluctuations in the financial
and capital markets have resulted in volatility in securities prices.
The
requirement that we repay the Convertible Note and interest thereon in cash under certain circumstances, and the restrictive covenants
contained in the Convertible Note, could adversely affect our business plan, liquidity, financial condition, and results of operations.
We
may be required to repay the Convertible Note and interest thereon in cash, if we do not meet certain equity conditions as set forth
in the Convertible Note (including minimum price and volume thresholds) or in certain other circumstances. For example, we will be required
to repay the outstanding principal balance and accrued but unpaid interest, along with a premium, upon the occurrence of a Change of
Control (as defined in the Convertible Note). In addition, the Convertible Note contain restrictive covenants, including financial covenants.
These obligations and covenants could have important consequences on our business. In particular, they could:
●
require
                                            us to dedicate a substantial portion of our cash flow from operations to payments on the
                                            Convertible Note;
●
limit,
                                            among other things, our ability to borrow additional funds and otherwise raise additional
                                            capital, and our ability to conduct acquisitions, joint ventures or similar arrangements,
                                            as a result of our obligations to make such payments and comply with the restrictive covenants
                                            in the Convertible Note;
●
limit
                                            our flexibility in planning for, or reacting to, changes in our businesses and the industries
                                            in which we operate;
30
●
increase
                                            our vulnerability to general adverse economic and industry conditions; and
●
place
                                            us at a competitive disadvantage compared to our competitors that have lower fixed costs.
The
debt service requirements of any other outstanding indebtedness or preferred stock we incur or issue in the future, as well as the restrictive
covenants contained in the governing documents for any such indebtedness, could intensify these risks.
In
the event we are required to repay the Convertible Note in cash, we may seek to refinance the remaining balance, by either refinancing
with the holder of the Convertible Note, by raising sufficient funds through a sale of equity or debt securities or by obtaining a credit
facility. No assurances can be given that we will be successful in making the required payments under the Convertible Note, or in refinancing
our obligations on favorable terms, or at all. Should we decide to refinance, it could be dilutive to shareholders.
If
we are unable to make the required cash payments, there could be a default under the Convertible Note. In such event, or if a default
otherwise occurs under the Convertible Note, including as a result of our failure to comply with the financial or other covenants contained
therein, the holder of the Convertible Note will be able to elect to redeem the Convertible Note for cash equal to 115% of the then-outstanding
principal amount of the Convertible Note (or such lesser principal amount accelerated by the holder) plus accrued and unpaid interest
thereon, or to convert the Convertible Note into ordinary shares at a conversion price equal to the lowest of (i) the applicable Conversion
Price as in effect on the applicable Conversion Date, (ii) 85% of the VWAP of the ordinary shares as of the trading day immediately preceding
the delivery or deemed delivery of the applicable Conversion Notice, (iii) 85% of the VWAP of the ordinary shares as of the trading day
of the delivery or deemed delivery of the applicable Conversion Notice and (iv) 85% of the price computed as the quotient of (I) the
sum of the VWAP of the ordinary shares for each of the three trading days with the lowest VWAP of the ordinary shares during the 20 consecutive
trading day period ending and including the trading day immediately preceding the delivery or deemed delivery of the applicable Conversion
Notice, divided by three.
Our
assets and the assets of certain of our subsidiaries have been pledged as security for our obligations under the Convertible Note, and
our default with respect to those obligations could result in the transfer of our assets to our creditor. Such a transfer could have
a material adverse effect on our business, capital, financial condition, results of operations, cash flows and prospects.
The
convertible note is a senior secured obligation of the Company secured by a lien on all assets of the Company and certain of our subsidiaries.
In the event of a default by the Company with respect to its obligations under the Convertible Note, we or our subsidiaries may be obligated
to transfer some of our assets to our creditor. Such a transfer could have a material adverse effect on our business, capital, financial
condition, results of operations, cash flows and prospects.
We
have broad discretion over the use of proceeds we received in our IPO and from the sale of the convertible note and may not apply the
proceeds in ways that increase the value of your investment.
Our
management has broad discretion in the application of the net proceeds from our recent IPO and from the sale of the convertible note,
as a result, you will have to rely upon the judgment of our management with respect to the use of these proceeds. Our management may
spend a portion or all of the net proceeds in ways that not all shareholders approve of or that may not yield a favorable return. The
failure by our management to apply these funds effectively could harm our business.
A
significant portion of our total outstanding shares may be sold into the public market in the near future, which could cause the market
price of our ordinary shares to drop significantly, even if our business is doing well.
The
price of our ordinary shares could decline if there are substantial sales of our ordinary shares, particularly sales by our directors,
executive officers and significant shareholders, or if there is a large number of shares of our ordinary shares available for sale. All
of the ordinary shares sold in our IPO are currently available for sale in the public market. Substantially all of our remaining outstanding
ordinary shares are currently restricted from resale as a result of market standoff and "lock-up" agreements.
The
market price of our ordinary shares could decline as a result of the sale of a substantial number of ordinary shares in the public market
or the perception in the market that the holders of a large number of shares intend to sell their shares.
31
Our
shareholders will experience significant dilution as a result of any conversion of the convertible note.
As
a result of the conversion of the Convertible Note, our shareholders will experience significant dilution. In addition, if we elect to
pay monthly installment payments under the Convertible Note in our ordinary shares, we may be required to issue a substantial number
of shares to the holder of the Convertible Note. The Convertible Note is convertible, at the holder's option, into our ordinary
shares, initially at a fixed conversion price of $5.17, subject to adjustment for stock dividends, stock splits, anti-dilution and other
customary adjustment events (without taking into account the limitations on the conversion of the Convertible Note as described elsewhere
in this prospectus). The number of ordinary shares to be issued may be substantially greater, if the Convertible Note is converted into
ordinary shares following and during the continuation of an Event of Default (as defined in the Convertible Note) at the alternate conversion
price as described elsewhere in this prospectus. In such cases, the number of shares issued will be based on the lowest conversion price
in accordance with a formula determined based upon 85% of the volume weighted average of the market price of our ordinary shares during
certain measuring periods. We cannot predict the market price of our ordinary shares at any future date, and therefore, we are unable
to accurately forecast or predict the total amount of shares that ultimately may be issued under the Convertible Note. The Convertible
Note likely will be converted only at times when it is economically beneficially for the holder to do so, and we are entitled to pay
interest in shares and make installment conversions only at a price per share that is at a discount to the then current market price.
In any event, the issuance of these shares will dilute our other equity holders, which could cause the price of our ordinary shares to
decline.
If
securities or industry analysts do not publish or cease publishing research or reports about us, our business, or our market, or if they
change their recommendations regarding our ordinary shares adversely, our share price and/or trading volume could decline.
The
trading market for our ordinary shares will be influenced by the research and reports that industry or securities analysts may publish
about us, our business, our market or our competitors. Securities and industry analysts do not currently, and may never, publish research
on us. If no securities or industry analysts commence coverage of our Company, our share price and trading volume would likely be negatively
impacted. If any of the analysts who may cover us adversely change their recommendation regarding our shares, or provide more favorable
relative recommendations about our competitors, our share price would likely decline. If any of the analysts who may cover us were to
cease coverage or fail to regularly publish reports on us, we could lose visibility in the financial markets, which in turn could cause
our share price or trading volume to decline.
We
may not pay dividends on our ordinary shares in the future and, consequently, your ability to achieve a return on your investment will
depend on appreciation in the price of our ordinary shares.
We
do not currently expect to pay cash dividends on our ordinary shares. Any future dividend payments are within the absolute discretion
of our Board and will depend on, among other things, our results of operations, working capital requirements, capital expenditure requirements,
financial condition, level of indebtedness, contractual restrictions with respect to payment of dividends, business opportunities, anticipated
cash needs, provisions of applicable law and other factors that our Board may deem relevant. Consequently, your ability to achieve a
return on your investment will depend on appreciation in the price of our ordinary shares.
We
currently report our financial results under IFRS, which differs in certain significant respects from U.S. GAAP.
Currently
we report our financial statements under IFRS. There have been and there may in the future be certain significant differences between
IFRS and U.S. GAAP, including differences related to revenue recognition, share-based compensation expense, income tax and earnings per
share. As a result, our financial information and reported earnings for historical or future periods could be significantly different
if they were prepared in accordance with U.S. GAAP. In addition, we do not intend to provide a reconciliation between IFRS and U.S. GAAP
unless it is required under applicable law. As a result, you may not be able to meaningfully compare our financial statements under IFRS
with those companies that prepare financial statements under U.S. GAAP.
32
We
are an emerging growth company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure
requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more
difficult to compare our performance with other public companies.
We
are an "emerging growth company" within the meaning of the Securities Act, as modified by the JOBS Act, and we may take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth
companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and
exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden
parachute payments not previously approved. As a result, our shareholders may not have access to certain information they may deem important.
We could be an emerging growth company for up to five years, although circumstances could cause us to lose that status earlier, including
if the market value of our ordinary shares held by non-affiliates exceeds $700 million as of any December 31 before that time, in which
case we would no longer be an emerging growth company as of the following December 31. We cannot predict whether investors will find
our securities less attractive because we will rely on these exemptions. If some investors find our securities less attractive as a result
of our reliance on these exemptions, the trading prices of our securities may be lower than they otherwise would be, there may be a less
active trading market for our securities and the trading prices of our securities may be more volatile.
Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards.
The
JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to
non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such extended transition
period, which means that when a standard is issued or revised and it has different application dates for public or private companies,
we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.
This may make comparison of our financial statements with another public company which is neither an emerging growth company nor an emerging
growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences
in accountant standards used.
We
incur significantly increased costs and devote substantial management time as a result of operating as a public company.
As
a public company, we incur significant legal, accounting, and other expenses that we did not incur as a private company. For example,
we are subject to the reporting requirements of the Exchange Act and are required to comply with the applicable requirements of the Sarbanes-Oxley
Act and the Dodd-Frank Act, as well as rules and regulations subsequently implemented by the SEC, NYSE American and Upstream including
the establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices. Compliance
with these requirements increases our legal and financial compliance costs and makes some activities more time consuming and costly.
The
Exchange Act requires, among other things, that we file annual and current reports with respect to our business and results of operations.
We incur significant expenses and devote substantial management effort toward ensuring compliance with the auditor attestation requirements
of Section 404 of the Sarbanes- Oxley Act, which will increase when we are no longer an "emerging growth company," as defined
by the JOBS Act. We will need to hire additional accounting and financial staff with appropriate public company experience and technical
accounting knowledge. We cannot predict or estimate the amount of additional costs we may incur as a result of becoming a public company
or the timing of such costs. As a result, management's attention may be diverted from other business concerns, which could adversely
affect our business and results of operations.
In
addition, changing laws, regulations and standards relating to corporate governance and public disclosure are creating uncertainty for
public companies, increasing legal and financial compliance costs and making some activities more time consuming. These laws, regulations
and standards are subject to varying interpretations, in many cases due to their lack of specificity, and as a result, their application
in practice may evolve over time as regulatory and governing bodies provide new guidance. These factors could result in continuing uncertainty
regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. We will continue
to invest resources to comply with evolving laws, regulations and standards, and this investment may result in increased general and
administrative expenses and a diversion of management's time and attention from revenue-generating activities to compliance activities.
If our efforts to comply with new laws, regulations and standards differ from the activities intended by regulatory or governing bodies
due to ambiguities related to their application and practice, regulatory authorities may initiate legal proceedings against us, and our
business could be adversely affected.
33
As
a result of disclosure of information as a public company, our business and financial condition have become more visible, which may result
in threatened or actual litigation, including by competitors and other third parties. If the claims are successful, our business operations
and financial results could be adversely affected, and even if the claims do not result in litigation or are resolved in our favor, these
claims, and the time and resources necessary to resolve them, could divert the resources of our management and adversely affect our business
operations and financial results. These factors could also make it more difficult for us to attract and retain qualified colleagues,
executive officers and Board members.
Operating
as a public company makes it more difficult and more expensive for us to obtain director and officer liability insurance on the terms
that we would like. As a result, it may be more difficult for us to attract and retain qualified people to serve on our Board, our Board
committees or as executive officers.
If
we fail to maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately
report our financial condition, results of operations or cash flows, which may adversely affect investor confidence.
The
Sarbanes-Oxley Act requires, among other things, that we maintain effective internal control over financial reporting and disclosure
controls and procedures. We are required, under SOX 404, to perform system and process evaluations and testing of internal controls over
financial reporting to allow management to report annually on the effectiveness of internal control over financial reporting. This assessment
requires disclosure of any material weaknesses in our internal control over financial reporting identified by management. SOX 404 also
generally requires an attestation from our independent registered public accounting firm on the effectiveness of internal control over
financial reporting. However, as long as we remain an emerging growth company ("EGC"), we intend to take advantage of the
exemption permitting it not to comply with the independent registered public accounting firm attestation requirement.
At
the time when we are no longer an EGC, our independent registered public accounting firm may issue a report that is adverse in the event
it is not satisfied with the level at which we control are documented, designed or operating. Remediation efforts may not enable us to
avoid a material weakness in the future.
Compliance
with SOX 404 requires the incurrence of substantial accounting expense and consumes significant management efforts. We may not be able
to complete evaluation, testing and any required remediation in a timely fashion. During the evaluation and testing process, if we identify
one or more material weaknesses in internal control over financial reporting, we will be unable to assert that our internal control over
financial reporting is effective. We cannot assure you that there will not be material weaknesses or significant deficiencies in our
internal control over financial reporting in the future. Any failure to maintain internal control over financial reporting could severely
inhibit its ability to accurately report financial condition, results of operations or cash flows. If we are unable to conclude that
internal control over financial reporting is effective, or if our independent registered public accounting firm determines we have a
material weakness or significant deficiency in internal control over financial reporting, it could lose investor confidence in the accuracy
and completeness of our financial reports, the market price of our ordinary shares could decline, and we could be subject to sanctions
or investigations by the NYSE American, Upstream, the SEC or other regulatory authorities. Failure to remedy any material weakness in
internal control over financial reporting, or to implement or maintain other effective control systems required of public companies,
could also restrict future access to the capital markets.
If
we are not able to comply with the applicable continued listing requirements or standards of the NYSE American and Upstream, the NYSE
American and/or Upstream could delist our ordinary shares.
Our
ordinary shares are listed on the NYSE American and Upstream. In order to maintain that listing, we must satisfy minimum financial and
other continued listing requirements and standards, including those regarding director independence and independent committee requirements,
minimum shareholders' equity, minimum share price, and certain corporate governance requirements. There can be no assurances that
we will be able to comply with the applicable listing standards. If the NYSE American or Upstream were to delist our ordinary shares,
it would be more difficult for our shareholders to dispose of our ordinary shares and more difficult to obtain accurate price quotations
on our ordinary shares. Our ability to issue additional securities for financing or other purposes, or otherwise to arrange for any financing
we may need in the future, may also be materially and adversely affected if our ordinary shares are not listed on a national securities
exchange.
We
are dual listed on NYSE American and Upstream and there may sometimes be share price differences between the two exchanges
We
are dual listed on the NYSE American and Upstream. Generally, the price of a dual-listed security is the same (adjusting for currency
differences) on both exchanges where it is listed. However our share price may at times differ between the two exchanges.
U.S.
investors currently permitted to trade (buy, sell or deposit) Upstream listed securities only via intermediate US broker
To
follow current regulations, Upstream has currently allow U.S. based investors, including U.S. citizens and permanent residents
living abroad, to buy, deposit or sell securities they currently own on the Upstream exchange. Only via intermediate brokerage firm
, Boustead Security . U.S. investors may continue to open accounts for NFT (non-securities) transactions where they are able to buy
and sell NFTs. Opening an account via 3
rd
party borker deler may extend and complicate the trading process of US
investors .
34
Item
4. Information on the Company
A.
History and development of the Company.
Our
Company
We
believe that we are a world leading entrepreneur Edtech and education group based on student numbers with a student base of 3.1 million
on GeniusU at the end of 2022. Our mission is to disrupt the current education model with a student-centered, lifelong learning curriculum
that prepares students with the leadership, entrepreneurial and life skills to succeed in today's market.
To
help achieve our mission, we have completed an IPO on NYSE American, on April 14, 2022 and then dual listed the company on Upstream on
6 April 2023. We have also raised follow on Convertible Note in September 2022. We grew from a Pre-IPO Group of four companies to a post
IPO Group of nine companies, once the five Acquisitions closed.
Our
Pre-IPO Group includes our holding company, Genius Group Ltd, our Edtech platform, GeniusU Ltd, and two companies that were acquired:
Entrepreneurs Institute in 2019 and Entrepreneur Resorts in 2020.
The
entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally
mainly via our GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills. Our partners and community
are global with an average of 8,500 new students joining our GeniusU platform each week in 2022. Our City Leaders have been conducting
our events (physically or virtually) in over 100 cities and over 2,500+ faculty members have been operating their microschools using
our online tools.
We
are now expanding our education system to age groups beyond our adult audience, to children and young adults. The five Acquisitions are
our first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from 0-5 years
old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational
certifications and university degrees in California, USA; Property Investors Network, which provides property investment courses and
events in England, UK; and Revealed Films, a media production company that specializes in multi-part documentaries.
Our
plan is to combine their education programs with our current education programs and Edtech platform as part of one lifelong learning
system, and we have selected these acquisitions because they already share aspects of our Genius Curriculum and our focus on entrepreneur
education.
The
five Acquisitions have added $18.6 million in revenue to the Group in the year ended December 31, 2022, which represents 66% of the $28.1
million pro forma Group revenue during this period, while the Pre-IPO Group generated $9.5 million.
In
coming years, we plan to continue the growth of our Group through a combination of organic growth of our Edtech platform together with
the acquisition of various education companies that we believe provide complementary programs that can be added to our Genius Curriculum.
This Annual Report provides details of both our acquisition strategy together with our plans to integrate these Acquisitions together
with future acquisitions into our Edtech platform, "entrepreneur education" vision, Genius Curriculum and "freemium"
student and partner conversion models.
We
define "entrepreneur education" as personalized discovery-based learning that leads to higher levels of self-awareness, self-mastery
and self-expression. We believe this in turn develops leadership and entrepreneurial skills through which students can independently
create value and "create a job" rather than being dependent on a system in which they need to "get a job". We
believe these skills can be nurtured from an early age.
We
also believe these skills can be learned at any age, enabling adults to reskill and upskill themselves. We describe our Genius Curriculum,
together with the philosophy, principles, learning methodology, course content and delivery of our curriculum in the "Our Genius
Curriculum" section below.
35
36
We
believe one of the industry's most in need of disruption and upgrading is the global education and training industry, which education
market intelligence firm HolonIQ forecasts to grow to $10 trillion in size by 2030. The 2020 World Economic Forum "Schools of the
Future" report highlights the urgent need for a more relevant curriculum to prepare students and adults for the future. We believe
that the COVID-19 crisis has put an additional spotlight on the urgent need for an updated education system that is both high-tech and
high-touch.
We
have built our Pre-IPO Group of entrepreneur education companies to date through organic growth and acquisitions, with a focus on adding
value to each company through GeniusU, which we are developing to provide AI-driven personal recommendations and guidance for each student.
Our growth has been internally funded from our entrepreneur community. Our IPO and the Convertible Note Raise was part of our plan in
providing liquidity and a market to our existing and future shareholders, while providing funds to support our growth plan.
On
our Edtech platform, GeniusU, we are developing our Genie AI virtual assistant to give each student a personalized learning path at every
stage of their education, with an intention for this to be delivered at every age from early age to 100 years old.
Currently,
our system begins by identifying the preferences and level of each of our adult students, who can then connect with other students, mentors
and faculty members based on their talents, passions and driving purpose. Students and mentors then progress through challenge-based
microschools, with credits and digital points able to be earned. GeniusU includes personal profiles for students to present themselves,
dashboards to measure progress, their learning and earning metrics, communication circles to connect with other students and mentors,
and a full range of continually upgraded learning modalities and assessment tools to suit each student, delivered by a combination of
global and local faculty.
With
our planned integration of additional age groups, beginning with our five Acquisitions, we now plan to extend our offering within our
system so that early age to 5 year old students can learn their natural way to learn and play, 6 to 12 year old students can build their
life leadership and entrepreneurial skills, 13 to 21 year old students can learn how to start their business, join our global mentorship
program with a small business or learn key vocational skills in our camps and competitions, and the over 21 year old students take our
courses and receive mentorship for every level of business from startup to large corporations seeking an entrepreneurial edge.
We
are developing this curriculum as a supplement to the existing education system, and in time we aspire to create a fully accredited replacement
to the traditional U.S. school and university pathway.
We
have grown and will continue to grow through a combination of organic growth and acquisitions. Our organic growth is a result of attracting
our students to the courses on our Edtech platform, and attracting partners and faculty who market and deliver the courses. These courses
include our own wholly owned curriculum together with courses that our partners and faculty add to our curriculum.
We
also partnered and intend to continue to partner with and, where appropriate, acquire companies that have courses, faculty and communities
that we believe provide a valuable addition to our Group. We plan to add their courses to GeniusU, providing a full lifelong learning
pathway that can be accessed by our community globally, with the direction of our Genie AI and with the support of our global and local
faculty. We plan to continue this strategy of acquiring companies and then adding value to them by combining them in one Edtech platform
and curriculum, which to date has enabled us to maintain 50%+ year-on-year growth (on non-preforms basis)
As
of December 31, 2022, overall partnership revenues contribute 16% towards the revenue of the Education company, with the remaining 84%
of revenue from our fully owned courses and curriculum. We have seen an increase in partners globally year on year and our partner growth
in 2022 was 24% from 2021. As of the date of this Annual Report, we have over 1,400 events, courses and products listed on our digital
platform; partners earn commissions as a result of sales processed through our platform. Due to the number of faculty and partners, together
with the number of courses and products delivered on our platform, there is no one partner or product that makes up more than 5% of our
revenues.
37
We
are following a fifteen-year growth plan:
In
phase one, from 2015 to 2020, our focus has been attracting adult entrepreneurs to use our entrepreneur education tools and proving our
Edtech business model in countries around the world. The result of this phase is the Pre-IPO Group presented in this Annual Report. In
phase two, from 2020 to 2025, our goal is to integrate our education tools into the existing education system through licenses, partnerships
and acquisitions, with our aspiration for our entrepreneur education programs and Edtech platform becoming the programs and platform
of choice by schools, colleges, universities and companies in our target markets. The IPO and the Acquisitions are the first steps in
this phase.
In
phase three, from 2025 to 2030, our goal is to have developed a full curriculum accredited and receiving funding from government bodies
in the U.S., the U.K., Europe, Asia and Australasia and seen as a viable alternative by students, parents, partner schools and companies
around the world to the existing education options.
History
and Corporate Structure
The
origins of Genius Group began in 2002 when Singapore-based entrepreneur, Roger James Hamilton created the Wealth Dynamics system as a
personality profiling tool for entrepreneurs to discover their strengths and weaknesses, and build an entrepreneurial team. Over the
next decade the popularity of the tool led to Roger growing Wealth Dynamics into a global company with country licenses around the world
and a community of over 250,000 entrepreneurs by 2012.
Through
the global financial crisis that commenced in 2008 it became clear to Roger Hamilton, our Chief Executive Officer, and the senior management
team of Wealth Dynamics that the number of entrepreneurs and small business owners around the world was growing dramatically and in need
of a training system to reduce the number of business failures. According to data from the U.S. Bureau of Labor Statistics, about 20%
of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered. After 10 years, only
around a third of businesses have survived.
From
2012 to 2015
, Genius Group developed a number of initiatives under the Entrepreneurs Institute brand. This included the Global Entrepreneur
Summit and Entrepreneur Fast Track Event series, which we believe is now the largest entrepreneur seminar series hosted in 18 countries
annually. It also included Talent Dynamics, a corporate version of Wealth Dynamics used by large multinationals, and a full entrepreneur
system to grow from startup to the first million dollars in revenue called "The Millionaire Masterplan" which became a
New
York Times
bestselling book in 2014.
During
this period, Roger Hamilton also became the founding Chairman of the Green School in Bali. The Green School attracted global attention
as a new model of schooling with its environmental and student- centered approach to learning. It won the inaugural "Greenest School
in the World" award from the Center for Green Schools at the U.S. Green Building Council, and became a global case study for new
models of schooling. It is used as the first example of 21
st
century schooling in the World Economic Forum's 2020 white
paper on The Future of Schools. The need for an education revolution based on a global, scalable high-tech, high-touch model led to the
launch of GeniusU as an Edtech solution in 2015.
From
2015 to 2017
, GeniusU grew rapidly from 313,000 students in the first year to 736,000 students by the third year. During this time,
Entrepreneurs Institute had continued to grow and a third company under Roger Hamilton's majority ownership, Entrepreneur Resorts
Limited, had been established to expand on the successful and profitable model of providing entrepreneur retreats and co-working spaces
in paradise. In August 2017, Entrepreneur Resorts consummated its initial public offering on the Seychelles TropX stock exchange, now
the MERJ stock exchange, raising $3 million and acquiring Tau Game Lodge, a South African Safari Lodge to add to Entrepreneur Resorts'
property portfolio. The portfolio at that time also included Vision Villas, a Bali-based entrepreneur resort and Genius Cafe, a Bali-based
entrepreneur beach club.
At
the end of 2018
, the one company in the Group was GeniusU Pte Ltd, which changed its name to Genius Group Ltd. This was in its third
full year of operation as an Edtech company. Genius Group Ltd had grown in its first three years to 1.2 million students with revenues
of $4.8 million and net loss of $0.5 million in 2018. Total assets at the end of 2018 were $1.7 million, total liabilities were $2.1
million and total shareholders' deficit was $(0.4) million.
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At
the end of 2019
, Genius Group had grown to include Genius Group Ltd, GeniusU Ltd and Entrepreneurs Institute, with GeniusU Ltd formed
as the new Edtech company and Entrepreneurs Institute acquired as part of the Group. Combined revenues in 2019 of the Pre-IPO Group,
which includes Entrepreneur Resorts, acquired in July 2020, were $9.9 million, net loss before tax was $(1.1) million after eliminations
and Adjusted EBITDA was $1.2 million. Total assets at the end of 2019 were $17.6 million, total liabilities were $12.2 million and total
shareholders' equity was $5.3 million. Our revenue growth from $4.8 million in 2018 to $9.9 million in 2019, represents a 106%
year-on-year increase, with 15% organic growth and 91% growth from acquisition. These four companies make up the Pre-IPO Group, and audited
financials of this Pre-IPO Group are provided below for both 2019 and 2020 as they were under common control prior to the acquisitions.
At
the end of 2020
, Genius Group had entered into agreements to secure the four Acquisitions: Education Angels, E-Square, Property Investors
Network and University of Antelope Valley. All the four acquisitions closed after the IPO in 2022. and therefore all four are currently
part of our consolidated audited results for the period after acquisition to the year end. We have provided pro forma accounts in this
filing that include both the Pre-IPO Group and the five Acquisitions for 2022 for the full year.
In
2020, during the pandemic, the Pre-IPO Group saw an 11% growth in its digital education revenue, 2% growth in its total education revenue.
During the year Entrepreneur Resorts had a 55% revenue decline as it closed its locations in Singapore, South Africa and Bali, Indonesia,
resulting in $7.6 million in revenue, $3.5 million in gross profit, ($3.1) million in net loss and $(0.1) million in Adjusted EBITDA
for the Pre-IPO Group in 2020.
Our
revenue decreased from $9.9 million in 2019 to $7.6 million in 2020, a reduction of 23%. This was largely due to the effect of the COVID-19
pandemic on Entrepreneur Resorts, as discussed elsewhere in this Annual Report.
At
the end of 2021
, we continued to grow the Group without completing any new acquisitions. Based on pro forma financials and including
four acquisitions, combined revenues in the fiscal year ended December 31, 2021 were $24.1 million, with $12.7 million in gross profit,
($4.3) million in operating loss, ($4.7) million in net loss and $0.3 million in Adjusted EBITDA.
The
$24.1 million in pro forma revenue was the combination of $8.3 million in revenue from the Pre-IPO Group, and $15.8 million in pro forma
revenue from the Acquisitions. This further breaks down to the following revenue from each Acquisition: University of Antelope Valley,
$9.0 million revenue (38% of total), with a further $1.1 million of other income from government grants not included in this total; Property
Investors Network, $5.1 million revenue (21% of total); Education Angels, $0.9 million revenue (4% of total); and E-Square, $0.7 million
(3% of total).
The
two main revenue segments of the Pre-IPO Group are made up of education revenue and campus revenue.
Our
education revenue is the combined revenue of Genius Group Ltd, GeniusU Ltd and Entrepreneurs Institute. This decreased from $5.6 million
in 2020 to $5.2 million in the fiscal year ended December 31, 2021.
Our
campus revenue is the revenue of Entrepreneur Resorts Ltd. This increased from $2.0 million in 2020 to $3.1 million in the fiscal year
ended December 31, 2021 as our campus venues began to reopen in line with easing of pandemic restrictions.
At
the end of 2022
, we continued to grow the Group and acquired US based film production company Revealed Films in October 2022. Also,
we closed the remaining four Acquisitions that were contingent to our IPO. Based on pro forma financials and including the five acquisitions,
combined revenues in the fiscal year ended December 31, 2022 were $28.1 million, with $14.8 million in gross profit, ($41.9) million in operating loss, ($56.0) million in net
loss before tax and ($7.3) million in Adjusted EBITDA.
The
$28.1 million in pro forma revenue was the combination of $9.5 million in revenue from the Pre-IPO Group, and $18.6 million in revenue
from the Acquisitions.
The
two main revenue segments of the Group are made up of education revenue and campus revenue.
Our
education revenue on the audited financials grew from $5.2 million in 2021 to $13.6 million in the fiscal year ended December 31, 2022.
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Our
campus revenue is the revenue of Entrepreneur Resorts Ltd. This increased from $3.1 million in 2021 to $4.6 million in the fiscal year
ended December 31, 2022 as our campus venues began to reopen in line with easing of pandemic restrictions.
When
combined with the revenue of the Acquisitions, of which 100% is education revenue, our pro forma education revenue for the Group was
$23.5 million in 2022 and our campus revenue for the Group was $4.6 million in 2022.
We
use Adjusted EBITDA, a non-IFRS measure, in various places in this Annual Report, as described in the "Non-IFRS Financial Measures
— Adjusted EBITDA" section above.
B.
Business Overview
Our
Mission
Our
mission is to develop an entrepreneur education system that prepares students for the 21
st
century. We believe that the current
global education system is in need of a more relevant, upgraded, student-centered curriculum that is both high-tech and high-touch. We
believe that such a curriculum can be a force for good. As Nelson Mandela said, "Education is the most powerful weapon which you
can use to change the world."
Today,
we believe that it is the entrepreneurs of the world who have the greatest power to trigger change. We see Genius Group as the global
community where the entrepreneur movement meets.
For
students
who may struggle with the current test-focused, classroom-based, one-size-fits-all system most common in current schooling,
our mission is to provide the option of a personalized, passion-focused, purpose-based, flexible system that enables them to design a
life that enables them to ignite their own genius, and where earning and learning become a lifelong activity.
For
parents
who we believe feel trapped in a system where they are limited in flexibility of location, teachers, subjects and standards,
our mission is to provide a truly global system that can be accessed online, anytime, with their choice of location, teachers, mentors,
subjects and pathways that best suit their children, their family and their personal circumstances, while connecting to the recognized
accreditations for their children to succeed.
For
teachers
who we believe feel underappreciated and underpaid, our mission is to provide a global platform that recognizes and rewards
thought leaders for the best content, courses, microschools and microdegrees, enabling the best coursework to grow globally.
For
schools and colleges
that are under-resourced and struggle to keep up with the increasing demands of changing global economics and
an uncertain future of work, our mission is to provide a cutting-edge curriculum to enable them to prepare their students effectively
to get jobs and create jobs as well as learn key life skills in partnership with our global community.
For
companies
that have a challenge in finding students that have the adequate leadership and technical skills to be employable, our
mission is to provide company-sponsored programs that ensure a ready stream of employable students and leaders, operating globally and
constantly upgraded to the needs of the times.
For
governments
that are under pressure to deliver an effective education with employable students with various limitations on how rapidly
they can innovate within the existing system, especially given the current state of the education system due to the COVID-19 pandemic,
our mission is to provide a viable alternative to the current system in partnership with the leading education institutions, business
leaders and organizations seeking to solve the same issues.
Our
Genius Curriculum
In
direct response to the many challenges of the current education system, we are designing a comprehensive curriculum that fosters lifelong
personal and professional learning. By initially creating an adult-based curriculum to supplement existing education, we are laying the
groundwork for an ambitious, fully accredited alternative to the traditional U.S. school and university pathways. Our aim is to offer
a progressive entrepreneurial education from primary, secondary, university, vocational, and ongoing education.
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Our
Entrepreneur Education Vision
We
define "entrepreneur education" as a personalized, discovery-based learning experience that cultivates greater self-awareness,
self-mastery, and self-expression. By developing leadership and entrepreneurial skills, students are empowered to independently create
value and "create a job" rather than relying on a system in which they must "get a job." We believe these skills
and competencies can be nurtured from an early age and can be acquired at any stage in life, allowing adults to reskill and upskill as
needed.
With
our vision of a global education system rooted in our entrepreneurial philosophy, we are committed to delivering personalized, discovery-based
learning at all ages. Our Pre-IPO Group companies and acquisitions share this vision and have been working diligently to realize it.
In the following sections, we explore the commonalities and differences among these companies and provide a detailed overview of our
groundbreaking Genius Curriculum.
The
Genius Curriculum is an innovative blend of our Entrepreneurial Education Vision, 8 "Education 4.0" Pillars, Genius Learning
Methodology, 10 Genius Principles, C.L.E.A.R. Philosophy, and a diverse range of Courses, Products, and Services. Each of our Pre-IPO
Group companies and acquisitions incorporates specific aspects of these elements, with plans to integrate further components as we unify
their education systems within the Genius Curriculum. The subsequent sections elaborate on each element, along with our integration plans
for each company.
The
8 "Education 4.0" Pillars
We
recognize that individuals, from students to employees, freelancers, and startup founders, seek to learn how to be entrepreneurial and
"create a job" instead of needing to "get a job." The current education system and online courses often fail
to provide a reliable, recognized curriculum to support this goal. The World Economic Forum's white paper on the need for a 21st-century
education system, published in January 2020, highlights this problem.
The
report identifies eight crucial characteristics of learning content and experiences that define high-quality learning in the Fourth Industrial
Revolution, known as "Education 4.0." These eight pillars also form the foundation of our entrepreneurial education curriculum:
1.
Global
    citizenship skills: Focus on building awareness about the wider world, sustainability, and active participation in the global community.
2.
Innovation
    and creativity skills: Foster skills required for innovation, including complex problem-solving, analytical thinking, creativity,
    and systems analysis.
3.
Technology
    skills: Develop digital skills, including programming, digital responsibility, and the effective use of technology.
4.
Interpersonal
    skills: Enhance interpersonal emotional intelligence, including empathy, cooperation, negotiation, leadership, and social awareness.
5.
Personalized
    and self-paced learning: Transition from standardized learning to a system tailored to each learner's unique needs, allowing
    for individual progression at their own pace.
6.
Accessible
    and inclusive learning: Ensure learning is available to everyone, moving from confined access to school buildings to a universally
    inclusive system.
7.
Problem-based
    and collaborative learning: Shift from process-based to project- and problem-based content delivery, emphasizing peer collaboration
    and better reflecting the future of work.
8.
Lifelong
    and student-driven learning: Transition from a system with diminishing learning and skills to one where everyone continuously improves
    existing skills and acquires new ones based on individual needs.
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The
Green School in Bali, where Genius Group Ltd's Founder and CEO, Roger James Hamilton, served as the founding Chairman of the Board,
was the first school recognized by the World Economic Forum as practicing these eight characteristics. The Genius Curriculum has since
evolved, differentiating itself from traditional schooling through its student-based and personalized approach, 21st-century leadership
skills focus, collaborative environment, challenge-based structure, accelerated learning, global flexibility, tech-based content, and
multiple mentors per challenge.
With
over 3.1 million students across 20,345 cities utilizing the curriculum in various settings, Genius Group delivers a comprehensive entrepreneurial
education system in high demand. The curriculum is adopted by leading companies and schools worldwide, with campuses ranging from schools
to colleges, resorts, and co-working offices. Our Edtech platform, GeniusU, hosts over 500 local and online events and microdegrees.
Our
Genius Learning Methodology
Many
learning methodologies are based on "Pedagogy," our Genius Learning Methodology is rooted in "Andragogy." This
distinction is essential, as our acquisitions share a similar learning methodology or possess the potential to adopt it based on our
post-acquisition growth plans. The definitions of these terms are:
Pedagogy:
Derived from the Greek words paid (child) and ago (guide), this term refers to the science and practice of teaching and guiding a child
to achieve specific outcomes in their education.
Andragogy:
Derived from the Greek words andras (man) and ago (guide), this term refers to the science and practice of how adults (and children)
develop self-directed learning to guide their own development.
Andragogy
is a common practice for both children and adults when learning computer games, new internet applications, sports, musical instruments,
languages, or entrepreneurial skills through "learning by doing." Our Genius Learning Methodology is based on ten Genius
Principles
We
believe we are attracting and retaining the level of students and partners because they see high value as much from how they are learning
as what they are learning. Our Acquisitions are also practicing some of these principles to varying degrees. Following the completion
of our acquisitions, we plan to enhance the student experience in each of our Acquisitions by introducing these principles into these
companies. Below is a brief explanation of each of these ten principles.
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Our
Genius Learning Methodology
Our
10 Genius Principles
1.
Personalized
    Learning:
Our curriculum is designed to ignite each student's unique genius by tailoring it to their individual talents,
    passions, and purpose. GeniusU utilizes an AI-powered "Genie" to serve as a personal mentor, guiding students towards
    the most suitable courses, mentors, and opportunities for their personal journey. Assessments, such as the Genius Test and Passion
    Test, provide insights for personalized recommendations.
2.
Challenge
    Based Courses:
To increase engagement, our courses incorporate gamification, with rewards and prizes for competition. All live
    education on GeniusU features a challenge component, fostering an environment where students learn from each other's submissions.
3.
Impact
    Focused Learning:
Our courses are purpose-driven, with students defining their future vision early in their chosen pathway. Aligning
    learning with global citizenship and personal purpose allows students to easily connect with mentors and opportunities that match
    their objectives.
4.
Positive
    Credit System:
Students earn digital credits called GEMs (Genius Entrepreneur Merits) for actions taken during their learning
    journey. These GEMs can be redeemed for discounts on further education, increasing student engagement and community contributions.
5.
Global
    Classroom:
We foster engagement by connecting students and faculty from various countries in a single learning environment. A
    combination of video tuition, global mentors, local hosts, and individual mentors creates an enriching, diverse educational experience.
6.
Leading
    Learners:
GeniusU incorporates a rating and recognition system to showcase top students, mentors, and courses. This community-led
    approach helps keep our education system relevant and up-to-date in rapidly changing times.
7.
Decentralized
    System:
Our growth is driven by the interests of our students and the energy of our partners, resulting in a continuously evolving
    Genius Curriculum. This approach rewards the most innovative partners and faculty for introducing successful new courses and products.
8.
Inclusive
    Entry:
By offering free entry-level courses on GeniusU, we provide inclusive access to education for all. Students can progress
    to higher level programs by achieving minimum proficiency levels with the support of mentors when needed.
9.
Life
    and Leadership Skills:
In addition to academic skills, our curriculum emphasizes life and leadership skills, such as entrepreneurship,
    financial literacy, communication, and technology. We plan to introduce these skills in our Acquisitions to further enrich their
    educational offerings.
10.
Lifelong
    Learning:
We encourage students to embark on a lifelong learning journey with Genius Group, providing access to a structured
    pathway for continuous growth. This fosters long-term relationships with students and supports their ongoing personal and professional
    development.
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Our
C.L.E.A.R. Philosophy
An
important additional element in our learning methodology is our "C.L.E.A.R. Philosophy". This is in reference to how we have
designed GeniusU and Genie to focus on five daily actions that we recommend students to take. These five actions and sections within
GeniusU are Connect, Learn, Earn, Act and Review, and they form the acronym C.L.E.A.R.
Students
earn GEMs by engaging in each of the five areas of our "C.L.E.A.R. Philosophy," and our partners and faculty utilize these
areas to create customized circles, courses, and products on GeniusU. Upon completion of the Acquisitions, we will integrate our "C.L.E.A.R.
Philosophy" and structure with the acquired entities, merging our learning methodology with the content being taught.
We
believe that mastering these five areas is crucial for self-directed learning, as it offers the necessary framework for relevant and
contextual learning often missing in traditional education:
●
CONNECT:
We encourage students to connect with mentors, peers, and communities aligned with their passions and purpose. GeniusU courses
    and products feature circles, which are online groups with discussions, course access, and knowledge libraries for student support.
    Genie recommends daily connection actions, while students can explore the Connect Page for suitable circles, students, mentors, and
    companies.
●
LEARN:
Once connected, students should engage in learning within their circles or with selected partners or mentors. Genie suggests
    daily learning actions based on ongoing or new courses, and students can browse the Learn Page for assessments, courses, events,
    and articles.
●
EARN:
We recommend students earn GEMs or financial rewards using their expanded network and knowledge. This could involve writing reviews,
    networking, or sharing insights. Students can also explore the Earn Page for employment opportunities, partnerships, memberships,
    and certifications.
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●
ACT:
Students should apply their learning in real-world situations. GeniusU serves as an active ecosystem where leaders, entrepreneurs,
    and business owners seek talent, partners, or investors. Genie recommends actions based on individual students, and they can explore
    the Act Page for joint venture or investment opportunities and challenges to join.
●
REVIEW:
Finally, students should assess the outcomes of the previous four steps, embodying our philosophy of learning by doing, with
    continuous testing, measuring, and reviewing. Genie suggests items to review based on the student's engagement, and they can
    explore the Review Page to revisit previous C.L.E.A.R. steps.
Enhancing
the data mining and artificial intelligence capabilities of our Genie AI is a primary focus, as is integrating the courses and communities
of our partners, faculty, and Acquisitions into our C.L.E.A.R. Philosophy.
Our
Companies, Present and Future
Prior
to their acquisitions, the Pre-IPO Group companies all shared a common vision of an entrepreneur education system based on our definition
personalized discovery-based learning leading to higher levels of self-awareness, self-mastery and self-expression, which in turn could
develop leadership and entrepreneurial skills enabling students to independently create value and "create a job" rather than
being dependent on a system in which they need to "get a job". Our Acquisitions share a similar vision.
While
the companies have a shared vision, the Pre-IPO Group companies had various common aspects of our Genius Curriculum's 8 pillars,
our Genius learning Methodology, our 10 Genius Principles, our C.L.E.A.R. Philosophy as described above, while having differing courses,
products and services. The Acquisition companies also share common aspects of our Genius Curriculum as described above, and also have
differing course, products and services as described in the section below.
Based
on these commonalities and differences, below is a summary of the present state and future plans of these aspects of the Genius Curriculum
within each of our Group companies:
GENIUSU
LTD:
As the Edtech Platform, GeniusU is designed with our Genius Curriculum in mind and has been developed to provide our students
and partners a consistent experience of all aspects of the Genius Curriculum. Entrepreneurs Institute, training company with entrepreneur
content improved after becoming a part of Genius Group and transfer of its courses onto GeniusU. Our plan is to continue to develop and
deliver this experience with respect to our Genius Curriculum in the following ways:
➢
Entrepreneur
    Education Vision:
Based on our definition of "entrepreneur education" as personalized discovery-based learning that
    leads to higher levels of self-awareness, self-mastery and self-expression, our course builders and certifications on GeniusU are
    designed to ensure the courses delivered include these aspects of personalized discovery-based learning. This is explained in more
    detail in the "Our Courses, Products and Services" section below.
➢
8
    "Education 4.0" Pillars:
The combination of a global classroom, online delivery and personalized mentoring in challenge-based
    courses ensures all 8 of the "Education 4.0" pillars described above are practiced and experienced by both our students
    and our partners.
➢
Genius
    Learning Methodology:
The combination of the quizzes, personalized learning profiles and personalized course recommendations
    provided by our AI Genie ensure students can follow a personalized discover-based learning path based on "andragogy"
    rather than a prescriptive "pedagogy". Our plan is for the students of our Acquisitions to have similar tools to follow
    their own personalized discover-based learning path.
➢
10
    Genius Principles:
GeniusU has been designed with all 10 Principles in mind. For example, Personalized Learning is designed into
    the student experience with our AI Genie, our microschool courses are designed as challenge-based courses, and our tests and reports
    are designed to question and measure impact focused learning. We plan to continue to develop the technology and measure the success
    of GeniusU by the extent to which it achieves these 10 principles.
➢
C.L.E.A.R.
    Philosophy:
GeniusU has also been designed to direct and reward students to practice our C.L.E.A.R. Philosophy of learning through
    doing, with each course having actions to take for a student to connect, learn, earn, act and review, and for these actions to be
    rewarded with our GEM credit system. We plan to ensure the course delivered on GeniusU and by our Genius Group companies also align
    to this philosophy, through the design of their courses to include direction and reward for all five aspects.
45
ENTREPRENEUR
RESORTS:
Entrepreneur Resorts has a different revenue model from the education companies in the Group, and it complements the education
companies by providing location-based campuses that link local mentors and partners to local students while hosting courses delivered
via GeniusU and generating income from food, drink and accommodation. By providing venues for the delivery of Genius Group courses, the
company practices the same elements of the Genius Curriculum.
➢
Entrepreneur
    Education Vision:
As with Entrepreneurs Institute, prior to acquisition Entrepreneur Resorts also shared a similar entrepreneur
    education vision to GeniusU, but limited to each venue's location. After the acquisition, Entrepreneur Resorts is expanding
    on that vision with partners and course content growing via GeniusU.
➢
8
    "Education 4.0" Pillars:
Entrepreneur Resorts was originally established to provide venues for Entrepreneurs Institute,
    and so shared the same focus on developing skills in some of the "Education 4.0" pillars, including global citizenship,
    creativity, technology, interpersonal skills, and included collaborative and personalized learning. It also did not address the pillars
    of accessible and lifelong learning. After the acquisition, the company was challenged by government restrictions during the COVID-19
    pandemic. As our venues have been reopening, the company has plans to address these pillars as it has expanded its course calendar
    in the different venues.
➢
Genius
    Learning Methodology:
The students who attend courses at Entrepreneur Resorts venues do develop their own personalized discovery-based
    learning path based on "andragogy". Since the acquisition, the growth of students, partners and courses on GeniusU has
    enabled the company's venues to grow its reputation in delivering discovery-based and challenge-based courses.
➢
10
    Genius Principles:
Entrepreneur Resorts was also similar to Entrepreneurs Institute in the Genius Principles it was following
    prior to acquisition, including personalized learning, challenge- based courses, global classroom, leading learners and leadership
    skills. Also similar to Entrepreneurs Institute, after the acquisition, the company also now has the tools to introduce the Genius
    Principles of a positive credit system, decentralized system, inclusive entry and a lifelong learning pathway, with plans to include
    these, post-pandemic.
➢
C.L.E.A.R.
    Philosophy:
Entrepreneur Resorts also focused on the first two elements of the C.L.E.A.R. Philosophy, connecting and learning,
    in its events prior to the acquisition. Now that the venues will be hosting more courses and conferences delivered partly on GeniusU
    and partly with in-person faculty partners and community partners, the company plans to introduce the other elements of the CL.E.A.R.
    Philosophy.
EDUCATION
ANGELS:
While it may appear unusual for an early learning company's curriculum to be seen as entrepreneurial, based on our
definition of Entrepreneur Education being personalized discovery- based learning, we see Education Angels' curriculum as being
entrepreneurial in nature. The original founder of Entrepreneurs Institute was inspired by Green School's entrepreneurial approach
to education in a similar way to Genius Group Ltd.'s CEO Roger Hamilton, and has been a long term student and partner of Genius
Group Ltd, utilizing the following elements of the Genius Curriculum in the development of the Education Angels' current curriculum:
➢
Entrepreneur
    Education Vision:
Education Angels shares a similar vision of equipping parents and young children with early learning tools
    and programs to create a personalized, discovery- based learning experience for both parents and their children. Our plan is to expand
    on this vision through the additional adult and family programs we will be introducing, that provide each family member with a relevant,
    personalized learning path.
➢
8
    "Education 4.0" Pillars:
Education Angels was established to provide an "Education 4.0" learning system
    for young children. The programs and courses that they deliver, together with the personalized delivery of in-home childcare and
    education professionals, are designed to foster growth in all 8 of the "Education 4.0" pillars. We have completed the
    acquisition of Education Angels and are scaling the Education Angels programs as explained in the "Courses, Products and Services"
    section below.
➢
Genius
    Learning Methodology:
The Education Angels system is based on the "Andragogy" methodology of self-directed learning
    and "learning by doing", with educators beginning with the personal character, traits and passions of the parents and
    children, and providing a learning environment for the children to learn through interaction and discovery. We plan to extend this
    "Andragogy" approach by introducing the gamification elements explained within our 10 Genius Principles, and by providing
    parents and teachers with our tools on GeniusU.
➢
10
    Genius Principles:
As Education Angels has developed within one country with a traditional enrolment model and in-home education
    delivery, it has been limited in the Genius Principles it has been practicing, with 2 of the 10 Genius Principles being part of its
    current learning system: Personalized learning and life skills. Our plan is to integrate the other Genius Principles into the Education
    Angels system as we introduce parent courses and online quizzes and courses with GEM rewards globally.
➢
C.L.E.A.R.
    Philosophy:
Education Angels has also not been utilizing the C.L.E.A.R. philosophy. We plan to begin to integrate the C.L.E.A.R.
    philosophy post-acquisition by integrating it with our planned parent courses as detailed below.
46
E-SQUARE:
E-Square was established to deliver an entrepreneurial education for primary school and secondary school students, with opportunities
for them to launch their own companies and learn technology and vocational skills. Their stated mission is: "To produce self-motivated
individuals who are ready to compete in a global business or Corporate Environment or even better becoming self-motivated successful
Entrepreneurs. The company and its team were referred to Genius Group Ltd by our entrepreneur community in South Africa as a recommended
addition to our Genius Curriculum, and this led to the current acquisition. E-Square already shares various elements of the Genius Curriculum:
➢
Entrepreneur
    Education Vision:
E-Square shares a similar vision of empowering students to learn through a personalized, discovery-based process
    where they gain the entrepreneurial, vocational and leadership skills to be able to "create a job" instead of "get
    a job". Their mobile based online system enables teachers to manage personalized learning pathways for each student whether
    they are in class or learning remotely. After the acquisition is closed we plan to expand this system through GeniusU to the families
    in our global community who want their children to follow a similar system as part of their primary or secondary school education.
    We believe that the combination of E-Square's current tools, together with our GeniusU platform and our shared vision, will
    enable us to reach children and primary and secondary school level globally.
➢
8
    "Education 4.0" Pillars:
E-Square has used the 8 "Education 4.0" pillars as a framework for the development
    of their curriculum and the courses they deliver to their students. This means all 8 pillars are already integrated into their curriculum:
    Global citizenship, innovation, technology and interpersonal skills; Personalized, accessible, collaborative and student-driven learning.
    We plan to expand the lifelong learning aspect by providing high school students with a pathway to further learning either through
    university or through apprenticeship within our global entrepreneur community.
➢
Genius
    Learning Methodology:
While primary and secondary school require a level of pedagogy in order for students to pass the standardized
    tests required to achieve a high school diploma, E-Square is also practicing a degree of self-directed and self-paced learning by
    providing students with options they can choose from that are relevant to their passions and path. In this way, they have already
    introduced a degree of discovery-based learning principles of andragogy to combine with the current pedagogy. We plan to expand these
    discovery-based options with the courses and personalized learning tools we will deliver on GeniusU. These will also include credits
    towards their education, together with multiple exits from high school, including university, vocational training or starting a business.
    We believe this will result in an increasingly personalized, gamified and discovery-based approach to our Genius curriculum for school
    students.
➢
10
    Genius Principles:
Similar to Education Angels, E-Square has been following a limited number of the Genius Principles, and also
    plans to embrace them all post-acquisition. The current Genius Principles they do practice include leadership skills, personalized
    learning, and impact focused learning.
➢
C.L.E.A.R.
    Philosophy:
E-Square has also not currently been utilizing the C.L.E.A.R. philosophy. We plan to begin to integrate the C.L.E.A.R.
    philosophy post-acquisition as we add E-Square courses on GeniusU.
47
University
of Antelope Valley:
UAV was originally established by two entrepreneurs to provide vocational training in the medical field. This
has since developed into an accredited university offering both vocational certifications and academic degree programs while maintaining
a vision of entrepreneurial education where the end goal is not graduation, but creating productive leaders within the community. UAV
already share the following aspects of the Genius Curriculum:
➢
Entrepreneur
    Education Vision:
UAV's mission statement reads "The University of Antelope Valley offers higher education that enables
    students to achieve their academic, career, and personal goals, thereby allowing them to become valuable assets to their communities."
    The university shares Genius Group Ltd.'s entrepreneur education vision and the faculty and staff are ready to implement the
    various elements of the Genius Curriculum post-acquisition. These elements are detailed below, and they include expanding on our
    common vision of personalized, self-directed education through the courses and programs we plan to introduce, including the student-led
    courses, summits and festivals detailed in the "Courses, Products and Services" section below.
➢
8
    "Education 4.0" Pillars:
UAV has not been practicing all 8 "Education 4.0" pillars, mainly as their focus
    in recent years has been in achieving the benchmarks necessary for a U.S. university to compete with other traditional education.
    This includes ensuring high pass marks in academic courses and achieving the metrics set by accrediting bodies. Some of these pillars
    have been introduced by the staff, including innovation and technology skills and collaborative learning. Post- acquisition, we plan
    to integrate the other "Education 4.0" pillars into UAV's courses with a focus on the first courses being integrated
    on GeniusU.
➢
Genius
    Learning Methodology:
UAV has been following more of a pedagogical approach in the delivery of its certification and degree programs,
    whereby students are required to follow the same course content towards standardized testing. However, UAV also attracts students
    as a result of its student-led learning and experiences, including its sports and extra-curricular programs, and corporate partnerships
    and placements. Our plan is to introduce to UAV students a more andragogical approach in which they can take free or paid courses
    outside of or additional to a full-time degree program as part of their learning journey, with these courses adding to their education
    credits, with each student using GeniusU to deliver a more personalized, gamified, engaging learning journey using the 10 Genius
    Principles and C.L.E.A.R. philosophy.
➢
10
    Genius Principles:
UAV is currently not following the 10 genius principles. We plan to integrate the genius principles together
    with the programs we plan to run at UAV and the UAV courses we host on GeniusU.
➢
C.L.E.A.R.
    Philosophy:
UAV has also not been following the C.L.E.A.R. philosophy, with a more traditional approach to education. We plan
    to add the C.L.E.A.R. philosophy with all UAV students utilizing the tools on GeniusU for their development of self-awareness, self-mastery
    and self- expression.
Property
Investors Network:
PIN is similar to Entrepreneurs Institute in its focus on adult learning and in a way it has already adopted most
of the elements in the Genius Curriculum. The founder of PIN is a long- term student of Genius Group Ltd and has grown his company using
the education methodology, principles and philosophy. Below are the aspects of the Genius Curriculum that PIN currently shares:
➢
Entrepreneur
    Education Vision:
PIN shares an entrepreneur education vision similar to that of GeniusU, but as with Entrepreneurs Institute,
    PIN is currently limited in scale by the delivery of training in-person or with a limited faculty. We have completed the acquisition
    and integration of PIN and are expanding PIN with this vision in a similar way to Entrepreneurs Institute, attracting new students
    and partners from around the world via GeniusU.
➢
8
    "Education 4.0" Pillars:
The training courses delivered develop skills in some of the "Education 4.0"
    pillars, including global citizenship, creativity, technology, interpersonal skills, together with collaborative and personalized
    learning. However, as it currently focuses at adult learners, it did not address the pillars of accessible and lifelong learning.
    After the acquisition, we plan to expand PIN's course offerings on GeniusU to deliver on all 8 "Education 4.0"
    pillars.
➢
Genius
    Learning Methodology:
Students in PIN currently used GeniusU's tools and products to develop their own personalized discovery-based
    learning path based on "andragogy". We have completed the acquisition of PIN and are planning to expand the PIN courses
    on GeniusU to develop more effective personalized, scalable learning paths.
➢
10
    Genius Principles:
PIN is currently following the same Genius Principles that Entrepreneurs Institute did prior to acquisition.
    These include personalized learning, challenge-based courses, global classroom, leading learners and leadership skills. We have completed
    the acquisition of PIN and are planning to introduce the additional principles of a positive credit system, decentralized system,
    inclusive entry and a lifelong learning pathway with the tools available on GeniusU.
➢
C.L.E.A.R.
    Philosophy:
PIN already follows the C.L.E.A.R. philosophy today, with students rewarded for connecting, learning, earning, acting
    and reviewing. This is in the form of challenges, awards and rewards. We are developing PIN's use of our C.L.E.A.R. philosophy
    further as we integrate all of PIN's courses and events on GeniusU.
48
Revealed
Films:
RF is focused on adult learning through Documentaries and Docuseries that span a wide array of topics. These topics help our
students navigate their beliefs and expand their knowledge by interviewing experts and educators that may have perspectives that differ
from conventional thinking. The founders of RF have been long-term students of Genius Group Ltd and have grown their company using the
education methodology, principles and philosophy. Below are the aspects of the Genius Curriculum that RF currently shares:
➢
Entrepreneur
    Education Vision:
RF shares an entrepreneur education vision similar to that of GeniusU, However, RF topics though by traditional
    media may be polarizing, can give a fresh perspective to see various sides of topics and different paths to success. We have completed
    the acquisition of RF and are expanding Genius Films with this vision to grow our student base with experts and educators in their
    respective fields.
➢
8
    "Education 4.0" Pillars:
RF has not been practicing all 8 "Education 4.0" pillars. To date, RF has practiced
    Global citizens skills to build awareness about the wider world, sustainability, and active participation in the global community.
    In addition, interpersonal skills: that when applied with the philosophy of being a lifelong learner, enhance interpersonal emotional
    intelligence, including empathy, cooperation, negotiation, leadership, and social awareness. As RF continues to be integrated into
    Genius, the remaining pillars will be brought into the culture to enhance course offerings.
➢
Genius
    Learning Methodology:
Students in RF will gain access to GeniusU's tools and products to develop their own personalized
    discovery-based learning path based on "andragogy". We have completed the acquisition of RF and are planning to expand
    the RF courses on GeniusU to develop more effective personalized, scalable learning paths.
➢
10
    Genius Principles:
RF is currently additional Genius Principles post the acquisition. Currently, RF practices global classroom,
    inclusive entry, and lifelong learning. We have completed the acquisition of RF and are planning to introduce the additional principles
    of a positive credit system, decentralized system, inclusive entry and a lifelong learning pathway with the tools available on GeniusU.
➢
C.L.E.A.R.
    Philosophy:
RF follows aspects of the C.L.E.A.R. philosophy today, with students rewarded for connecting, learning, and reviewing.
    This is in the form of access to projects, awards and rewards. We are developing RF's use of our C.L.E.A.R. philosophy further
    as we integrate key RF projects and events on GeniusU.
While
each company in the Group shared varying aspects of the Genius Curriculum, post-acquisition, we have integrated each company in a way,
they share a common vision, methodology, pillars, principles and philosophy as our courses, products and services evolve.
Our
Courses, Products and Services
We
are developing a comprehensive entrepreneurial education curriculum, complete with a suite of tools for student learning and faculty
earning. Our Acquisitions have been chosen for their focus on preparing individuals to "create a job" rather than "get
a job," achieved through nurturing student-driven learning in early years and developing vocational, technology, and entrepreneurial
skills in later years. We have integrated, and will continue to integrate, these courses into our Genius curriculum and GeniusU Edtech
platform, along with our principles and C.L.E.A.R. philosophy.
Our
product range is divided into six stages of education, with each stage offering four product groups. Three groups cater to students at
varying time and cost commitments, while the fourth group targets partners, training them to join as community partners or faculty members:
49
FREE
COURSES
: Most students begin with a free course, utilizing our "freemium" model. They can learn for free, build their
learning profile, connect with circles, and receive guidance from our AI Genie. Examples of free courses include:
●
Assessments:
    5 to 30-minute online quizzes providing insights into personality or progress.
●
Masterclasses:
    60-minute to 4-hour live or recorded webinars teaching specific skills or solving problems.
●
Workshops:
    3 to 4-hour live or recorded webinars with facilitated interaction, delivering specific outcomes or previewing paid courses.
●
Microcourses:
    3 to 5-day competitions, combining masterclasses with submissions and awards.
●
Microdegrees:
    Pre-recorded online courses offering a sample of paid course content.
PAID
COURSES
: Students can opt to purchase one-off paid courses, ranging in cost from $15 to $5,000. Examples of paid courses include:
●
Events:
    Paid live digital, in-person, or hybrid events such as training courses or global summits, priced between $15 and $1,500.
●
Workshops:
    60-minute to 2-day live or recorded workshops or mentorships, with faculty interaction and specific outcomes, priced between $100
    and $3,000.
●
Microschools:
    5 to 90-day challenge-based education modules combining digital and in-person elements, with submissions, awards, and GEM credits
    for completion, priced between $1,000 and $5,000.
●
Products:
    GeniusU's online store offers additional educational products, including books, video courses, and in-person sessions that
    partners can add to provide a comprehensive educational offering to their students.
DIPLOMA
COURSES
: The third step that a number of our students take is a diploma course that spans over one or more years. These range from
$1,000 to $30,000 per year. Examples of our diploma courses include:
➢
Memberships:
We host membership programs on GeniusU for our own companies and for our partners. These are delivered through a mix of digital,
    live and in-person. They provide monthly training, connection and information for the members who join, with prices ranging from
    $1,000 to $20,000 per year.
➢
Diploma
    Certificates:
Further to our Acquisitions we are adding vocational certifications to our product range, and we plan to extend
    this to primary and high school diploma programs. These will be delivered through a mix of digital, live and in-person. Prices range
    from $2,500 to $10,000 per year.
➢
Degree
    Certificates:
Further to our acquisition of UAV we are also adding bachelor's and master's degree certificates to
    our product range. These will be delivered through a mix of digital, live and in-person. Prices range from $2,500 to $30,000 per
    year.
MENTOR
RESOURCES
: Most of our 14,700+ partners began or participated as students before joining our partner community. We have two partner
pathways which work together at each stage of education: Community partners who host events, courses and venues, creating their own training
center or school in their local area; and Faculty partners who deliver the events and courses. Partners and faculty pay for mentor resources
in order to be trained, certified, learn best practices from other mentors and access our partner tools and dashboards on GeniusU. mentor
resources range from $1,500 to a percentage of their revenues which can range from 2.5% to 30% of revenues. Examples of our mentor resources
include:
➢
Certifications:
Our online certifications enable community partners and faculty to be trained to grow student communities or to deliver one or
    more of the courses above. These certifications include mentor tools to add the courses above to GeniusU, attract and grow student
    and partner communities, take payment and track their activity with ready-made dashboards. These range from entry level certifications
    to advanced certifications. Prices range from $1,500 to over $35,000 per year for the initial certification and annual re-certification.
➢
Sponsorships:
Partners have the option to sponsor various programs, including our global summits and courses, and provide prizes and awards
    as part of our education challenges. Prices range from $1,500 to $50,000.
➢
Licenses:
Partners also have options to license the use of various education models as they build their education business on GeniusU.
    For example, venue partners pay between 2.5% to 5% of revenue when operating their campus venues. Community Partners and Faculty
    also pay a platform fee of between 5% to 30% for products they sell on GeniusU.
In
the following section are the courses, products and services currently offered by the Pre-IPO Group and the Acquisitions, together with
our plans on how we will be developing these products together with new products following the completion of the acquisitions.
50
51
Our
Courses, Products and Services
We
are developing a life-long Genius curriculum together with a full suite of tools for students to learn (at every age and ability level)
and for faculty to earn on GeniusU, divided in the following stages:
➢
PREP
    - 0 to7 years old:
Our Acquisition, Education Angels, provides education services to this stage of education. With $0.9 million
    in 2022 revenue and 194 paying students in 2022, this represents 3% of our pro forma Group revenue and 1% of our total paying students
    in 2022.
➢
PRIMARY
    - 6 to 14 years old:
Our Acquisition, E-Square, provides courses and a full primary school program to this stage of education.
    With $0.3 million in 2022 revenue and 171 paying students at primary school level, this represents less than 1% of our pro forma
    Group revenue and less than 1% of our total paying students in 2022 in our primary school offering.
➢
SECONDARY
    - 12 to 18 years old:
Our Acquisition, E-Square, also provides courses and a full secondary school program to this stage of education.
    With $0.3 million in 2022 revenue and 220 paying students at secondary school level, this also represents less than 1% of our pro
    forma Group revenue and less than 1% of our total paying students in 2022 in our primary school offering. Between primary and secondary
    school levels combined, E-Square had $0.6 million in 2022 revenue and 391 paying students, representing approximately 2% of our pro
    forma Group revenue and 2% of our paying students, currently making our offering to school students the smallest and newest contributor
    to the Group.
➢
APPRENTICE
    - 16 to 22 years old:
Our Acquisition, UAV, provides vocational certifications and degree level programs to this stage of education.
    With $8.1 million in 2022 revenue and 489 paying students, this represents 29% of our pro forma Group revenue and 1% of our total
    paying students in 2022.
➢
ENTREPRENEUR
    - 16 to 80 years old:
Our Pre-IPO Group Edtech company, GeniusU and entrepreneur education company, Entrepreneurs Institute,
    has been providing courses and products to adult learners. With $4.9 million in 2022 education revenue, 3.1 million students and
    43,136 paying students, this represents 17% of our pro forma Group revenue and 25% of our total paying students in 2022. Our Acquisition,
    PIN, also provides courses and products to adult learners. With $3.0 million in 2022, 164,712 students and 67,987 paying students,
    this represents 11% of our pro forma Group revenue and 40% of our total paying students in 2022. When combined, this education stage
    represents 28% of pro forma Group revenue and 65% of our paying students in 2022. Post- IPO, as we develop the other stages in our
    curriculum, we plan for the percentage of revenue and students from this stage will fall as the percentage of revenue and students
    in the other stages increase.
➢
MENTOR
    - 18 to 100+ years old:
Currently GeniusU provides mentor certifications for partners who build their education businesses on
    our Edtech platform. While Entrepreneurs Institute and PIN are both utilizing GeniusU to grow their mentors, our plan is for the
    other Acquisitions to also attract, train and grow their faculty through GeniusU.
➢
ENTREPRENEUR
    RESORTS - All Ages:
Our Pre-IPO Group company, Entrepreneurs Institute, operates a campus model in the form of resorts, cafes
    and coworking spaces, and has plans to grow these campuses by connecting local partners with our global community, Genius Curriculum
    and GeniusU platform. It delivers revenue from accommodation, food and beverage. With $4.7 million in campus revenue in 2022, this
    represents 17% of pro forma Group revenue. We are in process to spin-off Entrepreneur resorts and focus on our core business, education.
Prior
to the IPO and completion of the Acquisitions, PIN was the only Acquisition to be actively using the GeniusU Edtech platform and our
global community to grow its business. We plan to integrate Education Angels, E-Square, UAV and RF to expand the process for their courses
to be added to GeniusU and our Genius Curriculum. We have provided further details below on the current courses, products and services
provided by each of these companies at each stage of learning, and we are integrating and expanding each company's offering with
GeniusU and our Genius Curriculum.
52
PREP
— 0 to 7 years old
We
are introducing our early learning program for parents and children up to seven years old with the acquisition of Education Angels. Until
this acquisition, our impact on early learning was limited to the events and courses that our parent-focused faculty hosted on GeniusU,
our Genius School Certifications, and the work that our Genius Educators had conducted with parents in early learning. Below is a list
of Prep products delivered in 2022, and our planned post-acquisition Prep product range in 2023:
➢
Understanding
    your Young Genius FREE
– 1 week micro course to discover one's child's natural born Genius and promote positive
    learning environment to grow their self-awareness, confidence and growing social competence.
➢
The
    Early Years Last Forever Microschool
– 2 week micro school where parents can learn why the early years are so important
    and what they can do to best support their child. This course is to understand the child's unique temperament and setting realistic
    expectations for the child. How to support each temperament type so that parents can grow its child's ability to self-regulate
    and minimize challenging behaviors, growing their self-awareness and self esteem.
➢
Angel
    Guide Certification
– This is a course for parents or adults that would like to work with preschool children. The course
    teaches how to guide children to a greater understanding of themselves. It includes the Early Years Last Forever program and includes
    strategies to support and grow children's social and emotional wellbeing and to teach self-regulation, promote autonomy and
    grow children's self-awareness and self-esteem.
PRIMARY
— 6 to 14 years old, and SECONDARY — 12 to 18 years old
"Genius
School" is the brand we use within GeniusU to encompass all our programs for children and students up to high school graduation.
Prior to the acquisition of E-Square, Genius Group's programs for primary and secondary school students were focused on the development
of our Genius School assessments, camps and certifications.
Below
is a list of Primary products delivered in 2022, and our planned post-acquisition Prep product range in 2023:
➢
The
    Early Years Last Forever Microschool
– Two week micro school
➢
Teen
    Genius Quiz –
Quiz for students to discover its Genius.
➢
Passion
    Test –
Test for students to learn how to align its life with its passions.
➢
Purpose
    Test –
Test for students to discover their true 'why' and learn the key steps to align their life (and learning)
    to their deepest meaning and motivation.
➢
Teen
    Money Challenge -
In this challenge, students will learn that it is not about how much you earn, but what you do with what you
    earn that makes the difference.
➢
Teen
    Dynamics Profile Test
- Profile and debrief, or family dynamics profiling and debriefing with one of our Genius Educators.
➢
Teen
    Dynamics Discovery call
– One hour virtual call to understand the student's natural strengths, the smartest and easiest
    way that students learn and develop a personalized learning pathway that will help them navigate the schoolwork minefield.
➢
Genius
    School Micro Camp
– Two-day Genius Camps, which are sponsored by companies and hosted by schools or virtually, for students
    to gain insights into their talents, passions and purpose.
➢
Teen
    Quest
– Two-week microschool to help students develop higher-order, design thinking and future ready skills to sustain
    their lifelong learning journey.
➢
Young
    Entrepreneur Academy
- Two-week virtual program to help students build a business and learn leadership and entrepreneur skills
    used by the world's top entrepreneurs, as well as connect to a global community of like-minded young leaders.
➢
Young
    Entrepreneur Membership
– Annual membership to access all Student Skills Microschools and scholarships and sponsorships
    to support certain students.
APPRENTICE
— 16 to 22 years old
We
have established the University of Antelope Valley (UAV) as our global center for curriculum development, with a long term aspiration
to expand the campus to include innovation labs, accelerator camps and courses delivered for all education stages of our lifelong learning
curriculum
53
The
acquisition of University of Antelope Valley is our first step towards integrating vocational certificate level and university degree
level courses into our curriculum.
The
University of Antelope Valley was originally established as a medical and vocational college and received regional university accreditation
with the Western Association of Schools and Colleges (WSCUC) in 2016. Its focus on growing entrepreneurial and employment opportunities
for its students is a core part of its culture and mission. We believe this gives the university a strong fit with Genius Group's
culture and mission. The University currently offers certificate level, bachelor's level and master's level degree courses
in subjects ranging from Business Management, Healthcare Management and Sports Management through to Psychology, Communications and Education.
Details of all courses and accreditations are provided in the "Further Company Information" section below.
In
2023, we plan to extend our education festivals and host a MedTech festival, Greentech festival and Spaeth festival at UAV in Lancaster,
with the support of industry sponsors and the Lancaster City Council. We plan for attendance to be both in-person and broadcast live
via GeniusU, and to combine a free Microcourse challenge, startup competition, paid virtual summit and paid four-week Microschool.
We
also plan to offer a series of additional paid Microschools in management, entrepreneurship and education with credits towards full certificate
and degree programs, as a trial prior to enrolling for the diploma courses at UAV. Below is a list of courses delivered in 2022, and
our planned post-acquisition Prep product range in 2023:
➢
Passion
    Test
– Test for students to learn how to align its life with its passions.
➢
Purpose
    Test
– Test for students to discover their true 'why' and learn the key steps to align their life (and learning)
    to their deepest meaning and motivation.
➢
Genius
    Wealth Dynamics or Talent Dynamics test
– The Genius Wealth Dynamics or Talent Dynamics test is the world's leading
    profiling tool for intra & entrepreneurs. This test is designed to help students find out which of the eight wealth profiles
    is their natural path.
➢
Basic
    CPR and Life Saving
– Course to know the basics of life saving skills
➢
Genius
    Summit
– Course to learn how to attract new customers, maximize profits and increase impact.
➢
Associate
    in business
– Certificate level, bachelor's level and master's level degree courses in subjects ranging from
    Business Management, Healthcare Management and Sports Management through to Psychology, Communications and Education.
➢
Certificate
    in Medical billing and coding
– Medical Billing specialists ensure that patient records are accurate and that charges are
    properly submitted. The program introduces topics such as HIPAA, billing procedures, and claim processing. Graduates are prepared
    for entry level positions such as billing clerks and claims processors.
➢
Medical
    Assistant certificate
– Medical assistants work directly with patients and assist in their care and well-being. This program
    helps students develop relevant skills and gain real-world experience.
➢
Culinary
    Arts and Restaurant Management certificate
– A certificate in culinary arts and restaurant management opens doors to careers
    in food service. Students study food preparation, menu planning and safety in a modern kitchen environment. Graduates are prepared
    for entry level employment as prep cooks, cooks, sous chefs, restaurant managers or chef.
➢
Bachelor
    of Science is Psychology
– The program is designed to help build a solid foundation into the cognitive and affective processes
    that underlie human development and behavior. Students will study the application of psychological principles in both social and
    professional environments and learn the biological and behavioral aspects of psychology. Students will explore the influence gender
    and culture has on the psychology of individuals and groups.
➢
Criminal
    Justice Degree
– This program provides a broad review of the Criminal Justice system as well as a basic awareness of social
    and behavioral sciences. The upper-level courses include a focused study of the criminal justice system including principles of investigation,
    forensic specialties, and homeland security. Graduates are prepared for entry-level employment or career advancement in such professions
    as law enforcement, corrections, immigration, security services, and similar types of employment.
54
➢
Bachelor
    in Health and Fitness
– This major provides students the knowledge, skills, and abilities to develop and conduct health
    and fitness programs in commercial, corporate, public, and private settings such as personal training and athletic performance facilities.
➢
Next
    generation of Masters in Education
– Our online MSED has the blend of a traditional graduate degree with lectures from
    incredible global experts in igniting the Genius in every student. In addition, a trip to Bali (Indonesia) to learn how to humanize
    and personalize learning, create self-aware young Genius's, realize the true potential in our new generations, future ready
    education for future ready skills.
➢
Next
    generation of Master of Business Administration (MBA)
– Our online MBA has the blend of a traditional graduate business
    degree with lectures from incredible global experts in Entrepreneurship, Leadership, and wealth accumulation such as Property, Crypto,
    & Stock. In addition, a trip to Bali (Indonesia) to develop students' vision, wealth, health, energy, relationships and
    social impact.
➢
Additional
    Master's Degree
– 12 to 24 month certified Masters from California Business School with innovative content from top
    entrepreneur and investment leaders.
ENTREPRENEUR
— 16 to 80 years old
Prior
to the acquisition of Entrepreneurs Institute, all of the courses and products offered on GeniusU were added, promoted and delivered
on GeniusU by our partners. With the acquisition of Entrepreneurs Institute, the entrepreneur courses and products developed and owned
by Entrepreneurs Institute came under the ownership by Genius Group and these courses and products have become fully integrated into
our Genius Curriculum and GeniusU. With the acquisition of Property Investors Network (PIN), PIN's courses and products will be
integrated in a similar way. The courses and products of these two companies, together with the courses and products marketed and delivered
by our partners on GeniusU, form the product range for the students at the "Entrepreneur" stage of our Genius Curriculum.
Prior to the Pre-Acquisitions, over 70% of the education revenue of the Pre-IPO Group was derived from this stage.
While
students up to university graduation age progress through a series of grades and levels similar in name to the current Pre-K to 12 grades
and four university grades, our adult learning is divided into nine levels that relate to the nine levels of entrepreneurship. This is
a proprietary system called Impact Dynamics, originally owned by Entrepreneurs Institute and now owned by Genius Group Ltd, that has
proven to be one of the greatest attractions to our entrepreneur students as it provides specific steps to take in order to move from
one level to the next on their entrepreneur journey.
These
levels are Infrared (In debt, seeking financial and leadership literacy), Red (Seeking a pathway to self- sufficiency), Orange (Capable
of creating a job and delivering value to others), Yellow (Capable of attracting resources, a team and launching a startup), Green (Proficient
at growing a high-performing team), Blue (Understanding how to attract and grow capital), Indigo (Able to lead and direct trust within
a market), Violet (Trusted by others to lead societal change) and Ultraviolet (At a level to marshal global change).
The
products and programs that were previously owned by Entrepreneurs Institute and are now owned by Genius Group Ltd and delivered by GeniusU
include the Wealth Dynamics Profiling System, which has been taken by over 600,000 entrepreneurs around the world, the annual Global
Entrepreneur Festival (which in 2020 was attended by 20,000 entrepreneurs online over a five day entrepreneur challenge, a two day Global
Entrepreneur Summit that included a preview of the Top 10 Trends in the coming Digital Decade, and a week- long series of workshops),
the one week Wealth Dynamics Masters Retreat (which enables business teams to plan out their coming year together, guided by mentors),
the three day Impact Investor Retreat (which provides investors with the latest strategies and market insights), the one day Entrepreneur
5.0 Workshop (which gives an insight into the Japanese vision of the coming "Society 5.0" high-tech society and the future
of jobs) and the one day Entrepreneur Fast Track Workshop (which provide an overview of the Genius curriculum and provides each participant
with an assessment of their entrepreneur profile and entrepreneur level).
GeniusU
also runs monthly evening events called Entrepreneur Socials hosted by City Leaders in cities around the world, which we believe provides
the tools and templates for faculty to run their own in-person events and courses that add a high-touch, local element to the high-tech,
global delivery on GeniusU. All the bookings and management of these various in-person events and programs, together with the pre-event
and post-event activity, takes place on GeniusU.
55
Property
Investors Network follows a similar model to Entrepreneurs Institute, and runs monthly evening events called PIN meetings hosted by PIN
hosts in cities across the United Kingdom, specifically for property investors to share their knowledge, opportunities and listen to
experienced investors who explain the details of their recent transactions. Both our entrepreneur and investor network have approximately
fifty events per month, and we plan to grow this number as many of our students follow a natural path to become our partners and faculty.
PIN
currently offers a range of free courses, paid courses and full time diploma courses. They have built mentor resources for City Leaders,
but not for faculty members. We have completed the acquisition of PIN and are expanding the free and paid courses, together with mentor
resources, in the first steps to integrate and digitize PIN's offerings and to scale them globally.
Now
that the acquisition of PIN has been completed, our plan is to integrate PIN's courses and community into our Genius Curriculum
with a plan that includes:
➢
Launching
    the free Investor Genius Test and a series of free Investor Masterclasses, similar to the free Entrepreneur Masterclass series which
    contribute to the 8,500 new students joining GeniusU on average each week in 2022.
➢
Launch
    of the Wealth Dynamics for Investors assessment, together with a series of paid Property Investing Workshops and microschools on
    GeniusU.
➢
Migration
    of PIN's current City Hosts, city investor communities and monthly events to GeniusU, and expansion of PIN's City Host
    model in the UK to cities around the world.
➢
Launch
    of certifications on GeniusU for community partners and faculty to deliver PIN's courses and events globally.
➢
Expansion
    of PIN's current property summit and membership model with country partners to a global model, replicating the current model
    in different countries and languages.
Below
is a list of the main Entrepreneur products delivered in 2021 and 2022, and our planned post-acquisition Entrepreneur product range in
2023:
Free
Courses:
In 2023, GeniusU grew its community of free students primarily through free assessments and free masterclasses and microcourses.
The assessments were delivered digitally, with results linking to each student's learning profile on GeniusU, and the free courses
were delivered by our partners and faculty. In 2022, a total of over 1,000 different free education courses and products covering a wide
range of subjects and skills were offered on GeniusU. PIN also conducted free courses similar to those hosted on GeniusU, resulting also
in an intake of free students. In 2023, we plan to offer new assessments such as the Entrepreneur Genius Test and Investor Genius Test,
together with an expansion in our free Entrepreneur and Investor Masterclasses, while also integrating PIN's courses into GeniusU,
our Genius Curriculum and Genius learning methodology. The main online assessments we will offer include:
➢
The
    Genius Test:
Our most popular test identifies which of four personality types best fits the student, giving them guidance on
    their natural path in learning, earning, leading and connecting.
➢
The
    Passion Test:
In partnership with Chris and Janet Attwood, the authors of the New York Times Bestseller 'The Passion Test',
    this test identifies the students' top five passions and guidance on aligning their learning, earning and environment to the
    activities and actions they are most passionate about.
➢
The
    Purpose Test:
This test identifies which of 17 global goals the student is most aligned to, and enables them to connect with
    other students, mentors and companies on GeniusU that share the same purpose.
➢
The
    Entrepreneur Quiz:
This quiz identifies each student's learning goals, level of entrepreneur expertise and level of leadership,
    size of business or investment portfolio. This in turn enables our Genie AI to guide them most effectively in their first steps on
    their personalized learning journey on GeniusU.
➢
The
    Impact Test:
This test identifies which level of complexity the student's enterprise is at out of 7 levels, from 1 customer
    to 1 million customers, and as a result it guides the challenges, opportunities and solutions to navigate through their specific
    level of enterprise.
➢
The
    Wealth Spectrum:
This test identifies which of 9 financial literacy levels the student is at, what the greatest challenges and
    solutions are at their level and what the next steps are to master the level.
56
➢
The
    Entrepreneur Genius Test:
This is a new test we plan to launch that tailors the Genius Test questions and results specifically
    towards students looking to start or grow a business.
➢
The
    Investor Genius Test:
This is a new test we plan to launch that tailors the Genius Test questions and results specifically towards
    students looking to build an investment portfolio.
➢
Entrepreneur
    Dynamics
– This is the No.1 agile leadership system for entrepreneurs. This Microdegree takes students through each step
    of Entrepreneur Dynamics, and how to apply the agile leadership principles in the system to their company and in their team.
➢
Millionaire
    Master Plan
– Students learn which of the nine levels of the wealth spectrum they are currently at, and how understanding
    this master plan is critical to knowing the next step students will need to take in their entrepreneurial journey.
➢
5
    Day $50K Global Education Challenge
– Students join Roger James Hamilton, futurist, entrepreneur and founder of Genius
    Group, Daniel Priestly, founder of DENT global and best-selling author and speaker, as they host the Global Education Challenge and
    reset, restructure and launch their Education 5.0 and Community 5.0 plan to navigate and strive in the digital decade.
➢
5
    day $50k Global Entrepreneur Challenge
– Students learn 5 steps in 5 days to build their own digital business.
➢
2020
    Ready Accelerator
– Course that get students ready for the decade from 2020 to 2030 by growing their insight, income and
    impacts.
➢
Partner
    like a pro with GeniusU
– In this Microdegree students learn how to make the most of their Mentor level membership by using
    the higher level features of GeniusU to enhance their presence, grow their community, create unique content and generate revenues.
➢
Health
    Dynamics Microdegree
– System that links students health, wealth and happiness.
➢
Genius
    Entrepreneur Membership (GEM)
– Microdegree for students that want to generate additional income on the side or create
    an affiliate marketing business.
➢
How
    to build a fortune through cryptocurrencies
– Students learn how to trade cryptocurrencies.
➢
Unveiled:
    Protect Your Finances from the Hidden Threats
– In this masterclass students learn how to generate between 5% - 35% return
    based on the different investment strategies.
➢
Successful
    Real Estate Investing
– Students learn how to buy real estate at wholesale prices making a profit from the day they buy
    and gain instant equity.
➢
Wealth
    Creation Summit
– Virtual Summit on how to create 4 additional streams of income from 4 top wealth creation specialists.
Paid
Courses:
In 2021 and 2022, GeniusU hosted over 400 paid courses and products covering a wide range of subjects and skills. These
range from $15 to $5,000. As mentors can build paid events, microcourses, microdegrees and microschools on GeniusU, new courses and products
are added daily. Mentors also market and deliver paid courses developed by other mentors once they are certified to do so. In 2023, the
paid courses that relate directly to the courses offered as part of the Entrepreneurs Institute product range and PIN product range include:
➢
Entrepreneur
    Socials and PIN Meetings:
Monthly, local meetings which connect event hosts and City Leaders with their local entrepreneur and
    investor communities, with guest speaker and network sessions, with attendees connecting before, during and after via GeniusU.
➢
Wealth
    Dynamics Test:
This test identifies for each test taker which of the 8 entrepreneur profiles is their most natural path, and
    as a result what are the most effective ways to create value, start a business, build a team and develop an entrepreneurial success
    strategy.
➢
Wealth
    Dynamics Test for Investors:
This will be a new test which is a version of the Wealth Dynamics Test tailored to Investors. It
    identifies which of the 8 investor profiles and strategies the test taker is best suited for.
➢
Talent
    Dynamics Test:
This test is a version of the Wealth Dynamics Test tailored to leaders and teams in corporations. It identifies
    the strengths and weaknesses within a team, and the talents within each member.
➢
Entrepreneur
    5.0 Workshop Series:
A series of 12 one-day workshops covering key entrepreneur and business building tools, including the Impact
    Test, Wealth Dynamics, Talent Dynamics and the Wealth Spectrum.
57
➢
PIN
    Investor Summits:
Two annual investor summits hosted by PIN held in-person and online: Property Magic Live and Strategy Implementation
    Live.
➢
Entrepreneur
    5.0 Microschool Series:
A series of 8 four-week microschools conducted throughout the year building key entrepreneur skills with
    the latest technology, with microschools in leadership, marketing, sales, product, community, investing, cash flow and tech.
➢
Investor
    5.0 Microschool Series:
A series of 8 four-week microschools conducted throughout the year building key investing skills with
    the latest technology, with microschools in financial literacy, financial instruments, portfolio planning, angel investing, stock
    market investing, stock market investing, cryptocurrencies and property investing.
➢
Wealth
    Dynamics Masters:
An intensive one-week microschool conducted twice a year, guiding founders, CEOs and executive leadership teams
    in their annual planning and long-term planning for their enterprise as it scales. This is delivered through a mix of digital and
    live, with students joining globally in three time zones and competing for the award of top business plan at the end of the week.
Diploma
Courses:
In 2021, GeniusU hosted over 50 annual memberships and mentorships. These range from $1,500 to $30,000. In 2022, the annual
courses that relate directly to the courses offered as part of the Entrepreneurs Institute product range and PIN product range include:
➢
Genius
    Entrepreneur Mastermind:
A 12-month membership program for entrepreneurs to join a global community and access monthly skills-based
    sessions with seasoned entrepreneurs and mentors sharing their experiences. This is delivered online and globally on different time
    zones.
➢
Crystal
    Circle Mentoring:
A 12-month mentoring program for entrepreneurs at startup level, scale up level and investor level, to receive
    guidance and support on building their business from a team of mentors with a monthly, quarterly and annual or review, group sessions
    and one-to-one sessions. This is based on the business building tools based on Impact Dynamics and Wealth Dynamics.
➢
Property
    Investor Mastermind:
A 12-month mentoring program hosted by PIN for experienced property investors to receive training, connections,
    opportunities in a global network of property investors, with facilitation and mentoring.
➢
Entrepreneur
    Dynamics Report
- Online quiz to learn which of the eight natural entrepreneur paths students are best studied for, the role
    models to follow and team to build
➢
Global
    Summit Series
: Lifelong Learning Summit (March); Impact Investor Summit (June); Global Entrepreneur Summit (September); Global
    Impact Summit (December)
➢
Leadership
    5.0 Microschool
– A 4 week accelerator program that covers learning over four weeks, four subjects: Digital Strategy, Super
    Teams, Exponential Growth and Financing, together with how to put a full Leadership 5.0 Plan together
➢
Genius
    Entrepreneur Metaversity
– A 12 month mastermind and metaversity for entrepreneurs with expert mentors, skills workshops
    and global opportunities.
➢
Community
    5.0 Microschool
– A 4 week accelerator program that covers learning over four weeks, four subjects: Community Building
    Strategies, Community Engagement and Growth, A.I. tools for Community Management, together with how to put a full Community 5.0 Plan
    together
➢
Health
    Dynamics Consultant
– Course for entrepreneurs that need a fully developed health system that integrates with their existing
    business that can take your clients on a personalized pathway to health using proven systems.
➢
Entrepreneur
    Dynamics Masters
- 5 day virtual master's program for students to build their business plan and compete for $50k in prizes,
    with world class mentors
➢
Entrepreneur
    Circle Mentoring
- 12 month mentoring program for founders, CEO s and executives to build your business. At start up, scale up
    and corporate group level.
➢
Digital
    Entrepreneur MBA
- 12 month certified MBA from California School of Business. Cutting edge content from top entrepreneurs and
    thought leaders.
➢
Investor
    Dynamics Report
- Online quiz for students to learn which of the eight natural investor paths they are best suited for, the role
    models to follow and team to build.
58
➢
Genius
    Investor Network
- 12 month mastermind and metaversity for investors, with expert mentors, skills workshops and global investment
    strategies.
➢
Property
    Mastermind Accelerator -
Virtual intensive workshop for investors seeking to aggressively build out their property portfolio
    over the next twelve months.
➢
Investor
    Dynamics Masters
- 5 day virtual master's program for students to build their ideal portfolio and compete for $50,000 in
    prizes, with world class mentors.
➢
Investor
    Circle Mentoring
- 12 month mentoring program for investors in shares, crypto and property. At beginner, intermediate and advanced
    level.
➢
Digital
    Investor MBA
- 12 month certified MBA from California Business School. Cutting edge content from top investment thought leaders.
Partnership
Opportunities
➢
Faculty
    Level 1 MENTOR
– Partners can be part of our faculty and the go-to mentor for their own chosen niche or industry to build
    an education business and drive revenue of $40,000 to $150,000 per annum.
➢
Faculty
    Level 2 LEAD MENTOR
– Partners can be part of our lead faculty and build their mentoring business with GeniusU's
    support to build an education business and drive revenue of $150,000 to $300,000 per annum.
➢
Faculty
    Level 3 CURRICULUM PARTNER
– Partners can create content for our Genius curriculum as our curriculum partner to build their
    education business and drive revenue between $300,000 and $2,000,000 per annum.
➢
Genius
    Partner
– Partners can integrate their product range into GeniusU with our full Partner Portal following the Genius Formula.
Community
Partners
➢
Community
    Level 1 CITY HOST
– Partners can host city events and be the go-to event host for their city and community.
➢
Event
    Partner
– Partners can join as an Event Partner for our four Global Summits
➢
Community
    Level 2 CITY LEADER
– Partners can lead events in their city as a city leader to build their community business
➢
Community
    Level 3 TRANSLATION PARTNER
– Partners can join as a translation partner to translate content for our Genius Curriculum
➢
Community
    Level 4 COUNTRY PARTNER
– Partners can build a full education business as a country partner with their own faculty team
    and community partners.
➢
Venue
    Partnership
– Entrepreneur resorts has an organic growth plan with a mix of company owned and licensed venues. We are now
    in 3 countries with 5 locations and have developed the Genius Cafe, Genius Central and Genius Resort models, which we are expanding
    through regional license agreements.
➢
PIN
    Host Partnership
– Being a PIN host is for students that have achieved property investment success and are looking to grow
    their investments and build their credibility in their locality. We provide all the training for them to host their own PIN events.
Mentor
Resources
: In 2021 and 2022, GeniusU launched its certification builder, for partners and mentors to add their own certifications
to build and train their partner community. This has led to a growth in the number of certifications on GeniusU. These certifications
range from $1,500 to $32,000. In 2023, the paid certification relating directly to the courses offered as part of the Entrepreneurs Institute
product range and PIN product range include:
59
Entrepreneurs
Institute:
Entrepreneurs Institute has a global network of community partners and faculty partners, following the framework explained
in the "Mentor" section below. Mentors can join as community partners with training and certification at the following levels:
➢
Level
    One: Event Host
– Training and license to host Entrepreneur Socials and Wealth Dynamics, Talent Dynamics and Impact Dynamics
    events. Training on event marketing and management.
➢
Level
    Two: City Leader
– Training and license to host events, courses and larger summits and workshops in a city. Training on
    course marketing, management and community building.
➢
Level
    Three: Venue Partner –
Training and support to launch a Genius Café, Genius Central or Genius Resort to operate
    as a local campus venue.
Mentors
can join as faculty partners with training and certification at the following levels:
➢
Level
    One: Flow Consultant
– Training and license to use the Wealth Dynamics, Talent Dynamics and Impact Dynamics tool set within
    their training courses. Training on assessment debriefs.
➢
Level
    Two: Performance Consultant
– Training and license to use the Wealth Dynamics, Talent Dynamics and Impact Dynamics tool
    set within their training courses. Training on building a customer pathway and delivering workshops and diploma courses.
➢
Level
    Three: Product Partner
– Training at Level One and Level Two. License to co-create content for specific industries or languages
    utilizing the Wealth Dynamics, Talent Dynamics and Impact Dynamics tools.
Property
Investors Network:
In 2023 we will be replicating the above partner framework with the same levels and price points, to build the
communities and courses for PIN globally, starting with the U.S.
By
taking these steps to integrate PIN's product range, partner community and student community in a similar process to the steps
taken to integrate Entrepreneurs Institute's education community into GeniusU and our Genius Curriculum, we believe we are proving
a model that is equally attractive to other educators and their communities, opening the door to future acquisition opportunities.
In
addition to the courses and products offered on GeniusU, the platform has three tiers of membership. Member level is free and gives access
to the platform and community. Citizen level is a paid annual membership which provides the student with additional learning dashboards,
ability to earn credits and graduate, with student rates on all courses. Mentor level is a paid annual membership which enables a student
to become a part of the faculty and to create their own courses and products, with additional dashboards to track their students'
activities. More details on the mentor level are provided below.
MENTOR
— 18 to 100+ years old
We
have found that a natural progression in the learning process is to want to pass the knowledge on to others. In the traditional education
system this is challenging, as the academic system is directed towards research and graduate degrees, with university lecturers and faculty
requiring a masters or doctorate in order to be able to teach. This can be a missed opportunity for students to learn vital real-world
experience from mentors who have developed skills in their area of vocational expertise but who have not had the interest or inclination
to take the academic path to qualify as a teacher. We have grown more than 14,700 partners and 2,500 faculty through the natural path
students have taken to rise to a mentor level within our community. GeniusU mentors have the ability to earn on the platform, either
as a regional partner (as an event host, City Leader or country partner), or as a faculty member (as a mentor, instructor or curriculum
partner). Each of these positions come with an annual license fee, a percentage of revenue and certification courses to ensure our partner
community and faculty reaches a level of proficiency within our network.
Mentors
also receive ratings from their students, as do their courses and products, ensuring that students are always learning from the faculty
and courses that are most relevant and ensuring that the curriculum is always staying updated and relevant. While teachers in the traditional
education system are limited by their class size, the impact they can have and the amount they can earn, our GeniusU platform and global
community enables our best mentors to reach a global audience and we have many examples of faculty and partners who have built multi-million
dollar education businesses as a result of our system.
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An
important component to GeniusU and our Genius Curriculum is the modular nature of the courses, which enable partners and mentors to build
and launch new modules, and the progression path from one level to the next, which enables students to map and track their own personalized
pathway.
We
have designed the partner pathway using the same methodology, with two distinct partner types and three levels of partnership, training
and certification. Most of our partners and all of our Acquisitions are following this same methodology when building their partner pathway.
The two partner types and three partner levels are:
Community
Partner:
Primarily interested in either hosting events, courses, schools and building a learning community, while inviting Faculty
Partners to deliver the courses, Community Partners earn between 10% to 30% of revenues in commissions from the courses they host. The
three partner levels for Community Partners are:
➢
Level
    One: Event Host
– An annual license and training to build a community and host events. We also use the term 'Event
    Sponsor' for companies who support the events with sponsorship in the form of funding or support.
➢
Level
    Two: City Leader
– An annual license and training to develop a community and school.
➢
Level
    Three: Country Leader
– An annual license to develop a network of schools.
Faculty
Partner:
Primarily interested in educating their students and delivering either their own courses or the courses they are certified
or licensed to deliver, Faculty Partners each between 10% and 70% of revenues in commissions for the courses they create or deliver.
The three partner levels for Faculty Partners are:
➢
Level
    One: Mentor
– An annual license and training to deliver a specific set of courses.
➢
Level
    Two: Lead Mentor
– An annual license to training to build an education business based on a specific set of courses.
➢
Level
    Three: Product Partner
– An annual license to co-create content for different industries or countries. We also use the
    term 'Genius Partner' to refer to Product Partners who have built their education business into revenues over $1 million.
We
have found the benefit of building this modular approach is that it enables us to grow both our student base and our faculty network
to cater to both the demand and supply for the courses on GeniusU.
ENTREPRENEUR
RESORTS — All Ages
In
addition to our college and university model, we have developed a series of location-based models that provide learning in environments
very different from a traditional classroom or seminar room. Entrepreneur Resorts provide venues for our workshops and retreats, while
also being a meeting place for our global community of students and entrepreneurs. All venues have a similar range of products and services,
which include accommodation packages, our Genius Cafe menu of healthy food and drinks, and a full event schedule including accelerator
programs and camps.
Our
venues include: Vision Villa Resort, a 15-room spa resort in Bali; Tau Game Lodge, a 30-room safari lodge in South Africa; Matla Lodge,
a 7-room high-end private lodge neighboring Tau; Genius Cafe, a beach club and cafe in Bali; and Genius Central, a cafe, bar and event
space in Singapore. Each venue has catering, event and conference facilities. For further details on the three campus venue models in
Entrepreneur Resorts, refer to the "Additional Company Information — Entrepreneur Resorts" section below.
We
plan to spin-off entrepreneur resorts in 2023 to focus on our core business – education.
ANNUAL
CALENDAR AND EVENTS — All Ages
We
believe that we are building a full life-long learning curriculum with 33 levels over 6 stages covering Prep, Primary, Secondary, Apprentice,
Entrepreneur and Mentor. All of our courses and curriculum at each level follow an annual calendar with four quarters. Within each quarter
we conduct a quarterly certification at each level with two monthly microschools per quarter together with practical application within
projects and businesses.
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As
part of our curriculum, students earn learning credits called Genius Entrepreneur Merits (GEMs) throughout each quarter, and these go
towards their diplomas. Students graduate from one level to the next by achieving the necessary academic and practical credits at each
level. The GEMs they earn act as a digital credit which they can use to either purchase additional courses, products, mentoring or to
retake the level they are on in the event they fail to pass it.
Our
Conversion Model
We
have grown GeniusU to 3.11 million students as at December 31, 2022 through a "freemium" model by which students and partners
join the platform for free and then over time a percentage of them upgrade to paid courses, products and certifications.
This
"freemium" model is now common with online gaming companies and social networks, as it enables users to trial the value of
the content and community before committing to paying for additional value. In traditional education, this is not yet a commonly adopted
model, and students at many schools, universities or training institutions are generally expected to commit to payment before experiencing
the course or education pathway.
The
pathway our students on GeniusU follow is illustrated in the following graphic:
More
recently, Edtech companies, including the companies in the "Our Competition" section below, have introduced a "freemium"
model into the education industry. We have found at GeniusU that by focusing on this model, attracting students into free courses and
then building a community and content that encourages them to stay and for a percentage to upgrade to paid courses, it results in the
following benefits:
➢
Our Group can scale far more rapidly with students joining for free online than by relying on an enrolment sales team (which is what most schools and universities rely on).
➢
We attract free students at a much lower marketing cost per student, and as they experience our community and courses they refer their family, friends and colleagues to join.
➢
The heightened activity and scale of this approach in turn attracts more partners and faculty who join the platform, who in turn attract more students.
➢
This network effect enables us to deliver courses to a much wider and more global student body than we could with a tradition enrolment process.
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We
believe that as we continue to focus on this approach, we will find effective ways to reduce the marketing cost per student, increase
the conversion rate and increase the annual revenue per student and lifetime value per student. By applying this same conversion model
to our Acquisitions, we also believe they will benefit from attracting increased student numbers and increased partners and faculty delivering
their courses globally.
We
also believe that the "freemium" model will lead to a higher quality of free courses as well as paid courses in our curriculum,
as the strength of our student retention and conversion rates will be more dependent on the students experiencing a high enough quality
of course content and a relevant enough personalized pathway to want to upgrade to higher priced courses as a part time or full time
student than it will on the strength of an enrolment team.
Our
Student Conversion Model:
Of the 3.11 million students on GeniusU as at December 31, 2022, 3.06 million were free students and 43,136
were paying students. In the fiscal year ended December 31, 2022, GeniusU attracted 444,290 new students and 5,755 new paying students,
representing a 1.3% conversion rate. While some students join through word-of-mouth or referral, students also join through our direct
marketing spend via Google and Facebook. We track our monthly student intake, acquisition cost and activity over the first 12 months
and 24 months, and measure their average spending over these periods.
From
our main student marketing activity for the period from January 2019 to December 2021, every $1,000 in marketing cost delivered 7,703
new visitors and 1,326 new free students who registered on GeniusU as a result of this marketing. From these free students, we saw just
over 1% convert to paying students, generating $1,860 in revenue in the first 12 months as they purchase their first courses or events,
and $20,501 in revenue in the first 24 months as they upgrade to higher priced courses and diploma programs. This equates to a $0.76
marketing cost per student and $15.46 revenue per student within 24 months.
These
calculations for the marketing cost per student, 12-month revenue per student and 24-month revenue per student, together with the calculations
for our partner conversion model below, have been calculated specifically for GeniusU, as we have sufficient data for such calculations.
Our plan is to measure and track these measures for each Acquisition as we apply this conversion model to each company.
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Our
intention is to be able to accurately measure the average lifetime value of our students. However, we do not yet have enough years of
history to have an accurate measure of the average length of time that our students will remain with us for, or how much they will spend
with us during their lifetime with us. For this reason, we have not yet included lifetime value metrics in our Operating Data in this
Annual Report, but we plan to do so in the future.
We
have also not included the 24-month revenue per student metric in our Operating Data as it is a relatively new measure for which we do
not have multiple years of data. However, this year we are tracking this metric together with revenue numbers for 36 months, and will
be introducing this data into our Operating Data in the future for all our companies.
There
are additional metrics shown in the graphic above which we have also not included in the Operating Data table in this Annual Report,
including the marketing cost per free student or annual revenue per free student in our Operating Data. This is because the Acquisitions
do not yet follow a freemium model with the exception of Property Investors Network, and so these metrics are not yet relevant to these
companies. Once the acquisitions are completed, we will be introducing free courses and personalized student pathways for each of the
Acquisitions on GeniusU and we will then be tracking these metrics together with conversion rates. Based on our growth plans, which are
provided in more details below, our goal is for the introduction of the freemium model to result in an increase in student numbers and
a decrease in the marketing cost per paying student for each of the Acquisitions.
Our
Partner Conversion Model:
In the same way that we will be introducing our Student Conversion Model to our Acquisitions, we will also
be introducing our Partner Conversion Model. This will enable each Acquisition company to connect with the 14,700+ partners and 2,500+
faculty currently in our Group, and will enable them to attract new partners and faculty on GeniusU. As a result, we will be delivering
their courses globally with the students and partners we attract.
Most
of our partners on GeniusU begin as students, and then choose to join our faculty or partnership program. We also run marketing campaigns
to attract faculty members and partners to GeniusU. At the end of December 2022 we had 13,005 partners on the platform. We track our
monthly partner intake, acquisition cost and activity in a similar way to how we track our students, and in the last two years we have
measured the revenue they generate for GeniusU in their first 12 months and 24 months.
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For
our main partner marketing activity for the period from January 2019 to December 2021, every $1,000 in marketing cost delivered 1,540
new visitors and 38 new faculty and partners on GeniusU as a result of this marketing. From these partners, we also saw just over 1%
pay for certification courses on GeniusU, generating $46,702 in partner revenue for GeniusU in the first 24 months. We also saw these
partners attract an additional 1,520 new students during this period. This equates to a $26 marketing cost per partner and $1,229 revenue
per partner within 24 months.
As
discussed in the Student Conversion Model section above, there are metrics included in the graphics that are not yet included in our
Operating Data Table, including the 24 Month Revenue per partner and the Return on Ad Spend (ROAS). These have not yet been included
for the same reasons, but we plan to include them in the future together with a calculation of Partner Lifetime Value, once we have accurate
metrics over a long enough time frame for all companies.
A
primary focus for us is to improve on our student and partner conversion rates both through optimizing our Edtech platform, and by combining
our student and partner conversion models with our acquisitions to lower our acquisition costs and increase our lifetime value. Below
we explain how we aim to achieve this for each company in the Group.
Our
Four-Step Growth Model
With
each of the companies in the Group, we are following a four-step model of acquisition, integration, digitization and distribution:
Acquisition:
By acquiring the company we are able to combine each company's courses and products into our curriculum, and to tailor them
to the needs of our global community. We believe this will increase the lifetime value of our students.
Integration:
By integrating each company's courses and products on our GeniusU Edtech platform, and by connecting our student and partner
conversion model to each company's products, we aim to reduce the student and partner acquisition cost for each level of our curriculum.
Digitization:
By digitizing the courses and products for online delivery, we aim to scale each company's product offerings globally.
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Distribution:
By providing the courses in modular form, with the opportunity for partners and faculty to participate in marketing and facilitating
the delivery of each company's courses and products in the countries and cities where we have our Genius communities. Please see
in the "Partnership Strategy" section below details of the different partnership types for our various companies.
We
have seen the effectiveness of this four-step growth model in the Pre-IPO Companies:
Entrepreneurs
Institute
Prior
to acquisition, Entrepreneurs Institute was delivering in-person events and mentoring to entrepreneurs. It was limited in its ability
to grow through typical bottlenecks faced by schools and training companies: Student attendance was limited to where events and courses
were held, course sizes were limited to venue space available and the number of courses was limited to the number of faculty members
who could teach.
Following
acquisition, Entrepreneurs Institute courses and products were fully integrated into GeniusU. Students were able to join from anywhere
at any time, courses were digitized to be delivered part-recorded and part-facilitated, and faculty were able to join and get certified
to deliver the courses from anywhere around the world.
The
model that we used to acquire, integrate, digitize and distribute the courses and certifications for Entrepreneurs Institute is the model
we are now repeating for the Acquisitions. The conversion of Entrepreneurs Institute from an event-based training company to a freemium
Edtech model has resulted in the following outcomes:
➢
The
    development of the Genius Test, the Passion Test and the Purpose Test into free online tests has increased student intake from an
    average rate of less than 50 new students per week to over 2,000 students per week as of December 31, 2022.
➢
The
    migration of in-person events to online summits has increased event registrations from less than 1,000 attendees per year to over
    20,000 attendees per year as of December 31, 2022.
➢
The
    digitization of trainer certification to online certification has resulted in over 1,000 faculty members being certified as Flow
    Consultants and Performance Consultants globally.
➢
The
    modular, digital format of the Entrepreneurs Institute courses on GeniusU together with our partnership strategy has attracted Country
    Partners translating and delivering them in Japanese, Chinese, Thai, Mongolian, Spanish, French, Swedish, Polish and Czech. It has
    also attracted over 50 City Leaders who are hosting regular events and online communities while marketing Entrepreneurs Institute
    products and courses in their cities.
Entrepreneur
Resorts
Prior
to acquisition, Entrepreneur Resorts was already working in partnership with GeniusU to provide venues for GeniusU's faculty and
students, with revenue generated from accommodation and food & beverage. Traditionally in education and training companies, venue
hire and catering costs are a large part of student spend and often a high cost of sale for these companies. Following acquisition, Genius
Group gains the benefit of these additional revenue streams for GeniusU students who attend courses, events and retreats at our Entrepreneur
Resorts campuses. GeniusU also gains the benefit of an ongoing source of new students from each campus. In turn, Entrepreneur Resorts
has benefited from the acquisition with the following outcomes:
➢
Entrepreneur
    Resorts hosted GeniusU events and courses live at its venues, including hosting the Global Entrepreneurs Summit, Global Investors
    Summit and Global Educators Summit, and the 2020 series of Microschools. This attracted new visitors to its venues in Singapore and
    Indonesia.
➢
The
    resorts in South Africa and Bali received bookings from GeniusU partners and faculty for courses and retreats, including the Impact
    Investor Retreat, Wealth Dynamics Masters and Young Entrepreneurs Academy.
➢
Venue
    partners from GeniusU's partner community have applied to launch new campus venues in countries around the world including
    Japan, Australia, Greece and England. In addition, city hosts and City Leaders in various countries are presently seeking venue partners
    to work with in order to launch campus venues in their city. This is resulting in community-led efforts to bring our courses and
    curriculum to cities at a local level.
We
are in the process to spin-off Entrepreneur resorts and focus on our core business, education.
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Education
Angels
Prior
to the completion of the acquisition, Education Angels' revenues had been limited to delivering its home childcare and education
program in New Zealand. We are now integrating Education Angels' parenting courses, educator certification on GeniusU. This will
enable us to provide to our global community of students and partners an education offering for parents of children up to 5 years old,
while linking our conversion model to Education Angel's products.
We
believe this integration with Education Angels' updated product range and GeniusU's student and partner conversion model
to include the following benefits:
➢
By
    launching the Young Genius Test, Parent Genius Test and Parenting microdegrees based on Education Angels' education principles
    and programs, we will grow the global intake of parents with children up to 5 years old joining our free education products and courses.
➢
By
    launching online certifications on GeniusU for Angel Guides and Angel Educators, we will attract partners and faculty around the
    world who will be using Education Angels' education tools and courses via GeniusU.
➢
By
    integrating Education Angels' early learning courses into our curriculum and partner pathway, we will attract a similar growth
    in community partners for Education Angels as we have seen for Entrepreneurs Institute. This includes in country partners, where
    we have already attracted partners for our Genius School courses and certifications in Australia, New Zealand, Thailand, England
    and the United States.
E-Square
Education
Prior
to the completion of the acquisition, E-Square Education's revenues had been limited to delivering its primary school, secondary
school and vocational college offerings in South Africa. Following the acquisition of E-Square Education, we plan to integrate E-Square
Education's individual courses, Microsoft certifications and full year-by-year primary and secondary school curriculum on GeniusU.
This will enable us to provide to our global community of students and partners an education offering for parents of children up to high
school diploma and vocational certification level, while linking our conversion model to E-Square Education's courses.
We
believe this integration of online versions of E-Square's courses and teaching methodology with GeniusU's student and partner
conversion model will result in the following benefits:
➢
After
    the integration is successful, E-Square's most popular courses with our Genius School curriculum on GeniusU, we will grow the
    global intake of parents and students our free education products and courses suited for primary school and secondary school.
➢
By
    extending our Genius School online certifications on GeniusU for Genius Guides and Genius Educators to include facilitating and teaching
    E-Square courses, including Microsoft certifications, we will attract partners and faculty around the world who will be able to deliver
    this expanded offering via GeniusU. This can further be extended into a teacher pathway leading to teacher certification and up to
    a master's degree in education at the University of Antelope Valley.
➢
With
    the integration of E-Square's teaching methodology, where students meet in person or virtually and track all their learning
    on their mobile phones while being supervised by a group of faculty members, into our GeniusU platform. This will enable us to provide
    our faculty with the option of teaching courses to students at all ages either online, via virtual live microschools, or in person
    with a small group, or at one of our campus venues with a large group. This flexibility in delivery for both faculty and students
    is an important part of our vision for our Genius curriculum.
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University
of Antelope Valley
Prior
to the completion of the acquisition, UAV's revenues had been limited to delivering its certifications and degree programs to the
students who physically enroll at their location in Lancaster, California. Following the acquisition of UAV, we are integrating UAV's
various certification and degree programs on GeniusU. This will enable us to provide to our global community of students and partners
an education offering at college and university level, while linking our conversion model to UAV's courses.
We
believe this integration of UAV's most relevant courses with GeniusU's global community and student and partner conversion
model will result in the following benefits:
➢
By
    providing free courses and low-cost certifications delivered with UAV's faculty and course content, we plan to grow a strong
    community of students globally experiencing UAV's programs, with the option to progress to paid diploma courses either online
    or on campus in UAV. In time, we also plan to make UAV's courses available via our certified faculty and campus venues around
    the world.
➢
As
    we have explained in our Curriculum section earlier in this Annual Report, we are extending our popular Education Festival model
    to high demand industries including Fintech, Edtech, Medtech, Greentech and Spacetech. We plan to utilize the university campus at
    UAV to deliver live portions of the summits, microschools and microcamps related to this model, which can then be either attended
    live in Lancaster, virtually on GeniusU or in a city circle with our community partners.
➢
By
    integrating UAV's business and medical certifications and degrees into our Genius curriculum we can develop concentrations
    in high demand areas including entrepreneurship, education, technology and health, together with a focus towards high demand industries
    including those mentioned above.
Property
Investors Network
Prior
to the completion of the acquisition, PIN's revenues had been limited to delivering its events and education programs to property
investors in England. We are now integrating PIN's event model and property investment education programs on GeniusU. PIN's
model and bottlenecks to growth are very similar to those faced by Entrepreneurs Institute prior to Genius Group's acquisition.
As the acquisition of PIN has been consummated, PIN's growth is expected to grow in a similar way, with students being able to
join from anywhere at any time, PIN courses will be digitized to be delivered part-recorded and part-facilitated, and faculty will be
able to join and get certified to deliver the courses from anywhere around the world.
We
believe this integration of PIN's community, events and courses with GeniusU's student and partner conversion model will
result in the following benefits:
➢
By
    launching the Investor Genius Test together with free courses, we will grow the global intake of students interested in PIN's
    courses, including financial literacy and property investing.
➢
PIN
    already has a successful Event Host model in the United Kingdom, with 50 Event Hosts managing monthly events for the property investor
    communities in their cities. By extending this model to cities globally and migrating their event management system to GeniusU, we
    plan to scale what has proven to be a successful model in the UK to other countries where students are seeking a like-minded community
    and an effective education in property investing.
➢
By
    integrating PIN's current course offerings to other countries around the world via GeniusU, and providing certifications for
    faculty members to facilitate and guide students in this education, we believe we can scale PIN's model in a similar way to
    how we are scaling Entrepreneurs Institute's courses.
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Revealed
Films
Prior
to the completion of the acquisition, RF's revenues had been limited to producing documentaries and docuseries. We plan to integrate
RF's film format model as a medium on GeniusU. As the acquisition of RF has been completed, RF's growth is expected from
additional projects and developing new curriculum on GeniusU. RF's courses will be digitized to be delivered part-recorded and
part-facilitated, and faculty will be able to join and get certified to deliver the courses from anywhere around the world.
We
believe this integration of RF's viewers and community, events and courses with GeniusU's student and partner conversion
model will result in the following benefits:
➢
By
    launching the Investor Genius Test together with free courses, we will grow the global intake of students interested in additional
    courses, topics ranging from property investing to Education.
➢
RF
    already has a successful Studio model, films are digitized for online delivery.
➢
By
    integrating RF's content, it can be distributed to other countries around the world via GeniusU, and providing certifications
    for students.
For
further details on the different student courses our partnership certifications that we are running, please refer to the Curriculum section
of this Annual Report.
Our
Market
Overview
While
historically the education and training market has been seen as separate markets, more recently they have been combined into one global
education market. The entire pre-school, school, tertiary, adult education and corporate training market are one collective marketplace
that is being disrupted by Edtech, new technologies, such as AI, and advances in the science and psychology of learning.
According
to HolonIQ, the global education market is set to reach at least $10 trillion by 2030 as population growth in developing markets fuels
a massive expansion and technology drives unprecedented re-skilling and up-skilling in developed economies. This is from the current
market size of $2.5 trillion. It estimates that in the next decade the global education section will see an additional 350 million post-secondary
graduates and nearly 800 million more K-12 graduates than today. We believe that Asia and Africa are the driving force behind the expansion.
HolonIQ further states that the world will need to add 1.5 million teachers per year on average, approaching 100 million in total in
order to keep pace with the unprecedented changes ahead in education around the world.
Alongside
the growth of the education industry, Edtech companies are also growing rapidly. In 2021, a record $20.1 billion of funding was raised
by Edtech companies globally, representing a 34% increase on 2020 according to BrightEye Ventures EdTech report alone. However, we believe
that only few are focusing on creating a brand-new curriculum, and that none are focusing on creating a 21
st
century curriculum
that is student-centered and entrepreneurial in the way that the above-referenced World Economic Forum white paper has articulated. We
believe that most are providing courses delivering skills- based training or vocational training or serving as digital platforms for
existing institutions and their existing curriculum — which simply means delivering an outdated education system faster and cheaper.
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Market
Trends
Company-Funded
Education
We
believe that company-funded education market is growing rapidly, with the growth of Edtech companies Guild Education and BetterUp, which
receive corporate funding to up-skill employees with degrees, certifications and mentoring.
This
goes beyond the traditional corporate training market towards partnerships with the education sector for employees to receive courses,
mentoring, certifications and degrees that are delivered online and during office hours. In 2021 and 2022, companies including Go1, eLearning
Brothers and Degreed all experienced significant growth in this market.
As
the unemployment crisis, skills gap, student debt crisis, and the number of unemployed school leavers and graduates continues to grow,
this trend of companies paying for a more effective education system to up- skill their workforce and prospective recruits will continue
to grow.
Self-Funded
Entrepreneur Education
We
believe that the education market has traditionally led to one of two pathways. Either to further academia or to potential employment.
Education does not prepare students for the increasingly viable third option, starting a business. According to McKinsey, 20-30% of the
U.S. and EU workforce is already involved in the gig economy — where they are self-employed or outside of traditional employment.
That already accounts for 165 million workers in the U.S. and EU alone.
Based
on the gig economy continuing to grow at current rates, MBO reports that more than 50% of the U.S. workforce will be in the gig economy
by 2023. Every worker that chooses to find ways to generate their own income is seeking education on the best strategies to achieve this.
We
believe that self-funded lifelong education has become a significant growth sector in the midst of the COVID-19 pandemic, with Edtech
market leaders Coursera, Masterclass and Udemy targeting this market. All three platforms provide online skills-based courses, certifications
and in Coursera's case up to undergraduate degree level.
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This
second trend, like the first, represents a major growth in adult education. It is through these first two trends that Genius Group has
achieved the growth rate that it has as the first phase of our growth strategy. However, we have taken a blended approach to Edtech to
earn a larger part of the education market than pure Edtech companies can. According to Holon IQ, Edtech is growing at 16.3% annually
and will grow 2.5x from 2019 to 2025, reaching $404 billion in total global expenditure. Impressive as the growth is, Edtech and digital
expenditure will still only make up 5.2% of the $7.3 trillion global education market in 2025.
Licensed
Certifications
A
third fast-growing trend is the growth in licensed certifications and degrees in partnership with the leading institutions and universities.
We believe that most of the traditional colleges and universities are aware that their business model is being disrupted. However, most
do not have the leadership or technology to compete with the fast-growth Edtech companies that are disrupting their industry. As a result,
most are willing to enter into partnerships to have their existing certifications delivered online on a licensed basis.
This
Online Program Management model (OPM) is growing into a $7.7 billion market by 2025. As explained by HolonIQ in their February 2019 report
"The Anatomy of an OPM and a $7.7B Market in 2025": "Online degrees are one of the fastest growing areas of higher
education. OPM providers help universities build, recruit for and deliver online programs. Revenue share is the dominant model with fee
for service and hybrid relationships growing. 60+ operators in a $3B+ market growing at 17%."
There
are 60+ Edtech companies competing in this space, with Coursera and edX being the largest. However, there are also private universities
throughout Asia that are also licensing degrees from universities and then delivering these degrees locally at a fraction of the cost
of attending the university itself. We have already built a strong revenue stream by offering certifications and our growth strategy
includes partnering with the top institutions to provide relevant certifications and degrees via GeniusU and our locations.
Global,
Digital Schooling
In
addition to the three trends above, which are impacting the education system above primary, middle and secondary school, we believe that
the entire schooling system is also being disrupted by the shift to more online learning. The COVID-19 pandemic has accelerated this
disruption.
The
four largest Edtech companies in the world today, BYJU in India, and Yuanfudao, Zuoyebang and VIPKid in China are all online tutoring
apps to supplement student learning.
This
growth to digital schooling is taking place alongside a surge in homeschooling, as parents discover the benefits and ease of educating
their children from home. A recent Forbes article reported "The number of children being homeschooled has more than doubled in
five years, and in some areas has risen by more than 700%."
Genius
Group is benefiting from this growth as it expands its pre-school, primary school, middle school and high school programs, together with
our virtual camps.
Microschools,
Learning Pods and Blended Learning Models
Microschools,
learning pods and blended learning are the three buzz phrases that are growing virally in 2021 and 2022. Microschools are schools that
are based around a teacher instead of a location or classroom, where each microschool may have only five or ten students. Learning pods
are home-based groups of students who are following a particular class or curriculum online while gathering together for social learning.
Blended learning is the combination of both online and offline learning to get the best of both worlds.
We
see the future of work and education as being a spectrum of options which can be personalized to suit each person's work style
and learning style. We believe the trend will continue to move towards a blended approach where it will be just as important to have
high-tech as well as high-touch options for faculty and students to choose from. This will mean that not only will the current local
school and classroom model become less popular amongst the options available, but the purely online Edtech companies will need to either
compete or partner with the companies that deliver a more blended approach.
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Personalized
and AI driven education
A
recent World Economic Forum article titled "How technology will transform learning in the COVID-19 era" sums up the future
of education as: AI + community = future of learning.
It
goes on to say "All of us have a fundamental need to belong, learn and share. We need meaningful communities, because they are
force multipliers. They make learning fun and create a peer-to-peer accountability mechanism that shapes a culture of learning. AI enables
personalization at scale. Only by combining both AI and communities will higher education be relevant and prepare students for the adventures
of the Fourth Industrial Revolution."
While
there is general agreement that personalized education is needed, and that artificial intelligence can help us to deliver it, the two
unique competitive advantages that we believe we have in leading in this area is that we have built a global community who are already
experiencing their virtual personal assistance "Genie" on GeniusU, and they are willingly providing us with the data from
personality assessments and progress assessments that enable us to deliver relevant recommendations to get them to where they want to
go. This leads to our tagline: "You don't need to know every step. You just need to know the right step to take right now."
We
believe that while harnessing the first trends mentioned above help us to maintain our growth rate in the next five years, artificial
intelligence and personalized learning will disrupt and transform the education industry. The era of one-size-fits-all education will
end and be replaced by the school of one.
Our
Competitive Strengths
Our
Edtech Platform
Our
GeniusU platform has grown over the last five years to be the backbone that connects all the companies in the Group. Each student has
their own profile page with their photo, details, talents, passions and purpose (test results, groups, connections, attendances). Each
has their own dashboard to track their learning, and access to all the microschools, microdegrees and products globally.
For
students, GeniusU operates as a combination of a learning management system, a social network and a productivity tool, giving them simple
ways to up-skill themselves in specific areas while also giving them tools to assess their progress, track their financials and find
their team.
For
faculty and partners, GeniusU operates as an "Amazon for Entrepreneurs" where they can set up shop and operate their microschool
or training company on our platform. They can list their courses and products, manage their community, receive payments globally and
pay out to partners and track all their data. As with Amazon, the rankings of all faculty and programs by students ensures the best and
most trusted programs always rise to the top.
We
believe that this combination provides us with a powerful network effect where the more students we attract, the more faculty we attract,
and the more faculty we attract, the more students we attract. In our niche of entrepreneur education, we believe that we have not yet
seen any competitor who has come close to matching our scale globally.
Our
Curriculum
We
believe that we are offering a unique entrepreneur education curriculum that solves a global need. We own what we believe is one of the
world's most widely used range of entrepreneur assessment tools including Wealth Dynamics, Talent Dynamics, the Impact Test, the
Genius Test, the Passion Test and the Purpose Test based on the number of tests taken. These have been taken by over one million entrepreneurs
globally, and they enable us to provide personalized education pathways tailored to each individual student.
The
combined products of our nine companies deliver a full lifelong learning curriculum that we are developing into a full global curriculum.
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Our
Team
We
have breadth and depth of strength in our global team. Our Board members have experience and skills in building and listing companies,
with eight international initial public offerings between them and over $2 billion in capital value created. Our management team has
extensive experience in managing and mentoring entrepreneurs and entrepreneurial teams, with our teams based globally in Singapore, Australia,
New Zealand, Japan, Indonesia, India, South Africa, the U.K., Portugal, Poland, Ukraine, the U.S. and Canada.
We
believe that our 2,500+ faculty are leading entrepreneur teachers, trainers and mentors around the world with their own schools and training
organizations established often before joining our faculty. Our 14,700+ partners are strong advocates for our courses and programs, ensuring
a broad base of growth opportunities. As hundreds of investors who have funded our growth to date, many of our faculty and partners began
as students before becoming our supporters. We believe that this breadth and depth of leadership gives us an ongoing leadership position
in our field.
Our
Niche
Our
niche focus on entrepreneur education has enabled us to build what we believe to be a strong position within the global market, based
on the 3.1 million students that our Pre-IPO Group has attracted as at December 31, 2022. The challenge for many education and Edtech
companies is that they need to overcome the regulatory hurdles of their country's education system or the operational hurdles of
needing to build partnerships or clients one-by-one. By beginning in the entrepreneur education niche, we have attracted decision makers
virally who are willing to invest in their own education and based on the Return on Investment (ROI) they receive from our courses and
training, they return for more and refer us to others, building both lifetime value and vitality.
The
majority of the fast-growth education and Edtech companies are focused on a specific country, whether the U.S., China or India, or on
a particular niche, whether primary, secondary, tertiary or adult education. As a result, they are limited in market size or in their
share of the education spend of their students. With our chosen niche, we believe we will be able to capitalize on the growing entrepreneur
movement together with the growing demand for a relevant, 21
st
century education system, towards our aspiration of delivering
a lifelong curriculum.
Our
Venture Builder Structure
Our
structure has enabled us to create a high-value, high-growth environment in which each company can be valued effectively relative to
its peers, while also increasing the value of each Group company by the level of digital marketing, data intelligence and global growth
it can immediately deliver to each new company.
Each
education company within the Group can also maintain its focus and maximize its value as high- growth profit centers within the Group.
The leadership, metrics and management required to manage each resort or cafe separately is different to that required for each of our
college or training companies. The combination of our leadership, with our modular structure, and our ongoing education programs which
all our staff participate in, has led to a robust, scalable growth model where we operate effectively more as a group than one entity.
Our
Blended Approach
We
believe that the two fastest growing industry trends in education are company-funded education and self- funded education. GeniusU is
uniquely placed in these two fast-growing trends. We attract both the company- funded education sector and the self-funded education
sector, and we do this across 200 countries. We believe that we are also the only platform that has its own lifelong entrepreneur education
curriculum, and that provides a global community for entrepreneurs and qualifies for government funding via our partners. Genius Group
is an ecosystem with its own curriculum and an Edtech company at its center. This enables us to combine high-tech and high-touch solutions
both through partnerships and our own companies.
We
already deliver a spectrum of options, from fully online courses and certifications, to faculty-led microschools, to city-based learning
pods, to in-home tuition, to on-site campuses. Credits earned in any one of these models are fully transferable and collectively accounted
for, wherever and whenever they learn. This enables any faculty member or student to switch models as their circumstances or preferences
change, and it enables us to grow our community while evolving and adapting to our students' preferences.
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This
blended approach, together with our acquisition strategy, also gives us direct access to government education funding in the various
countries where we are expanding.
Our
Community
The
result of our growth to date has been a global community in which each microschool is attended by students from an average of 20 to 30
different countries. The scale and diversity of our student population, which has grown to 3.1 million students, is one of our greatest
strengths. The success stories that come from our community is as much from the connections that are made and opportunities shared as
from the courses and learning.
We
have seen companies grow from startup to multi-million-dollar successes. Examples include companies such as Wealth Migrate, CrowdProperty,
WebinarVet and Bank to the Future, all of which were birthed at Genius Group courses and accelerators. Three of the companies that we
have acquired, Education Angels, E-Square and Property Investors Network, all experienced significant growth as a result of our courses.
We have seen children go into partnership with their parents on businesses and investments. We have seen couples form and get married.
While the traditional education system sees bonds break when students graduate, Genius Group has no alumni, as our students remain students
for life and with that longevity comes a level of loyalty that we experience daily.
Our
Data and Systems
From
the beginning we were aware that the key to personalization was in the quality of our personal data. Our goal has been to go beyond learning,
and to transform education into a hospitality industry. We believe that the experience of too many students is that they do not feel
like a valued customer in the education process. To achieve our goal, we focused on a robust, scalable data management and intelligence
system.
Salesforce
currently provides our underlying Customer Relationship Management (CRM) system to which we have connected our GeniusU platform.
We
have shared best practices in our data management and connected all our customer data including personal preferences, financial transactions,
learning progress, community connections and all correspondence and conversations among GeniusU, Salesforce and our main social media
platforms, including LinkedIn, Facebook and Google.
All
our data is cloud-based and dashboard-driven, empowering our management, our partners and all our customers to manage and track their
progress and update their data.
Our
First Mover Advantage
Having
started this journey five years ago, and with most of our operations taking place initially outside of the U.S. and China, we believe
that we have not attracted any notable competitors or imitators in our niche. This has enabled us to grow quietly and through word of
mouth to the point where we now believe that we have strong momentum with a first mover advantage.
In
certain instances, companies that considered competing with us came to us instead to partner with us. While we can expect competition
in the future, this critical mass and ongoing momentum is an important focus for us.
Our
Agile Structure
A
relatively hidden competitive strength is the agile leadership structure we have developed as part of our course curriculum over the
last five years. We train entrepreneurial companies to develop cross-functional teams organized around discreet, profitable projects
on a quarterly basis and this system "Entrepreneur Dynamic" is the leadership equivalent of scrum methodology for engineering
teams.
Each
team member is self-directed, rewriting their job description every quarter as a "personal compass" and every team is accountable
for their performance and learning on a global "flight deck."
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This
system not only enables us to scale rapidly, but also to acquire and align companies rapidly into a highly effective, decentralized leadership
and learning structure. All our staff attend the same microschools and courses as our community, and as a result each is learning self-directed,
entrepreneurial skills on their own personalized path. We see this strength as not only one that will enable us to scale through the
next ten years as we grow Genius Group, but also in the way we are using a similar agile, learning structure to replace the more traditional
hierarchical structure in the education system.
Our
Strategy
Our
Three-Phase Strategy
We
believe that our three-phase strategy to disrupt the education industry is simple:
1.
Educate
    entrepreneurs;
2.
Expand
    to schools and colleges; and
3.
Establish
    a full curriculum.
In
our first phase, from 2015 to 2020, we have been focused on entrepreneurs who are willing to self-fund their education. This has enabled
us to grow globally and to self-fund our growth with the same entrepreneurs that we have been educating.
We
have begun our second phase, from 2020 to 2025, with the acquisition of a series of education-based companies already serving the pre-school,
primary and secondary school markets. We are also running Genius School programs with many of our entrepreneur students enrolling their
children in them.
And
our goal is to gather enough partnerships and licensing agreements with schools, colleges and universities that gain the benefit of our
GeniusU platform and global community in this phase to then move to our third phase, from 2025 to 2030, when we aim to have our curriculum
accredited in the U.S. and the U.K. as an alternative to the existing Cambridge and K-12 curriculums. This third phase is an aspirational
goal and is not assured, as it is dependent on the success of our second phase, and dependent on us succeeding in getting accreditation
from the accrediting bodies in the relevant countries.
Our
intention is to be able to deliver a more effective, engaging, relevant and flexible education system at a third of the current price
of education.
Our
Blended Edtech Strategy
We
are focused on acquiring companies that are leading the way in 21
st
century education, and then accelerating the speed, size
and scale of these companies by connecting their courses, faculty and reach to GeniusU. This increases their enrollments through our
digital marketing, increases their capacity to deliver through global, ongoing faculty certifications and increases their retention through
personalized education pathways.
Acquisition
Strategy
In
2023-24, we will be looking to engage with fewer acquisitions on a larger scale ($50M-$100M), that either bring complementary product
to our GU platform, or technology solutions (Augmented Reality/Virtual Reality) to be incorporated with our product offering, or core
expertise related to our core competency digital marketing and community build up.
We
have organized all learning within Genius Group into core curriculum and certified curriculum. These are similar to the distinction between
required and elective courses at college.
Our
core curriculum is the most important courses which we see as being required elements of our curriculum at the primary, secondary, post-secondary
and adult education levels. Our strategy is to acquire the companies that are delivering the courses we see as being part of the core
curriculum, in order that Genius Group opens all intellectual property in our core curriculum.
Certified
curriculum, on the other hand, are the optional courses and programs that we recommend students take at each level of their progress.
This is delivered by our partners on our GeniusU platform or at microschools, venues, events and retreats listed on GeniusU on a revenue
share basis.
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Our
acquisition strategy is not only to acquire content to supplement our core curriculum, but also industry certifications and government
accreditation and funding that our acquisition companies have earned over time. The purpose of acquiring education with courses that
have earned certifications and accreditations is in order that our students can eventually:
1.
Obtain
    industry-recognized certifications as part of our Genius Curriculum that can enable them to be recognized within their chosen career
    whether they choose to start their own business or take a job with companies operating in the industry. We are initially focused
    on high growth industries where there is a demand from both employers and students for an entrepreneurial mindset together with industry-
    specific skills. These include Edtech, Medtech, Fintech, Greentech and Spacetech.
2.
Obtain
    government-recognized accreditation at primary school, high school, college and university level, so that over time our Genius Curriculum
    can progress from a supplement to the traditional education system to a replacement of it. We are initially focused on developing
    a fully accredited pathway recognized in the U.S., as such a system is also in demand by overseas students who seek, for example,
    a U.S. high school diploma or U.S. university degree.
3.
Obtain
    funding where available to bring down the cost burden of their education. This may take the form of government funding such as in
    the case of Education Angels or UAV, or industry funding or corporate sponsorship of vocational certifications.
For
details of the course certifications and accreditations that our Acquisitions currently hold, please refer to the "Further Company
Information" section below.
We
believe that we have a strong acquisition and integration team to ensure that each acquisition is able to align rapidly with the culture
and leadership systems of the Group. The number of entrepreneurs and companies that we have in our community also gives us a strong deal
flow and talent flow so that we do not have to cold call for the right opportunities for acquisitions.
Partnership
Strategy
For
our certified curriculum, we attract partners by making it profitable and simple for them to join Genius Group. GeniusU has a partner
dashboard that enables each partner to track their revenues and we pay out weekly for all earnings through the platform. We categorize
partners into marketing partners, who receive 10% to 20% of all course and product fees on GeniusU for marketing the courses, faculty
members, who earn 30% to 50% for delivering the courses, and program providers who earn a 10% license fee for their content, marketed
and taught by others.
We
host certification courses on GeniusU, which enables partners to get trained and certified as marketing partners, faculty members or
program providers, and our partners create their own certification programs on GeniusU to grow their own faculty and partner community
globally.
With
the exception of Property Investors Network, which has attracted City Hosts to manage local events in a similar way to GeniusU, the other
companies in the Group including the Acquisitions do not currently have a systemized plan to attract faculty partners or community partners,
and the partners they do have are largely accrediting bodies and government institutions. These have been covered elsewhere in this Annual
Report. Our plan is to introduce our partner certification process and conversion model to each of the five Acquisitions, as covered
above in the 'Our Genius Curriculum', 'Our Conversion Model' and 'Our Four-Step Growth Model' sections
of this Annual Report.
Decentralized
Curriculum
A
critical network strategy in our growth is the design of our decentralized curriculum. The largest challenge of creating an education
curriculum is how quickly it becomes outdated. We believe that most of the current education systems have centralized curriculum design
departments. In today's fast changing world, a centralized system quickly becomes a bottleneck.
We
have designed a decentralized system not dissimilar to Apple's App Store. Courses, microdegrees, microschools and certifications
are posted by our program providers and faculty. These are both assessed by our team and rated by faculty and students, ensuring that
the best courses rise to the top of GeniusU.
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As
a result of this, our curriculum will constantly improve as we grow, and the best program providers and faculty and we believe will earn
exponentially more for the best courses. Students also contribute to an ever- improving system, sharing their coursework and entering
our challenges and rewards with their presentations, plans and results, which then become part of the GeniusU library.
We
believe that this decentralized curriculum that we grow in value as we grow in scale is a key strategy that will attract an ever-increasing
number of partners and potential acquisitions to our platform.
Our
Global Team
As
of December 31, 2022, the Genius Group team includes over 573 full-time staff and 14,700+ partners with teams, locations and offices
divided across three geographic regions: NASA, EMEA and APAC. Our teams operate from over 40 cities in U.S., South America, Europe, Africa,
Asia, New Zealand and Australia.
Our
Competition
We
see ourselves as an entrepreneur Edtech and education company. Edtech companies are companies that combine education and technology together
to enhance the process of teaching, learning or both. They typically have the ability to rapidly scale and grow as a technology company.
We define entrepreneur Edtech, as an Edtech company focusing specifically on an entrepreneur curriculum. We define an entrepreneur curriculum
as a course of study that teaches an individual to 'create a job' by connecting and delivering value to others in a role
aligned to their passions and purpose (either as an employee, contractor, freelancer or business owner) rather than teaching them how
to 'get a job' by searching for job positions in the employment market.
The
organizations that deliver such curriculums fall into two main categories. The first are entrepreneur camps, accelerators and business
schools which normally cater to 1,000 students or less per year. Examples of this range from startup accelerators such as Y Combinator
to academic institutions such as Stanford Graduate School of Business. The second are entrepreneur networks that often provide forms
of mentorship and training within their membership. Two of the largest examples of this are the Entrepreneurs Organization (EO) which
has 15,600 members and StartUp Grind which has 3.5 million members. These have a mix of free and paid-for memberships.
We
believe that our student base of 3.11 million students at the end of 2022, which grew by approximately 445,000 new students in 2022,
makes us a "world leading entrepreneur Edtech and education group" in comparison to these organization based on student numbers.
While we believe that there are no global companies directly competing with us to develop a uniquely entrepreneurial curriculum, there
are comparable companies building an Edtech platform to provide alternatives or complements to the traditional education system, and
also comparable education companies that are growing via acquisition. Such competition includes:
BYJU:
Currently one of the highest-valued Edtech companies, Byju was valued at $22 billion in March 2022. BYJU is an India-based education
company with a similar freemium model as GeniusU, but with a focus on mathematics and science for primary and secondary school students.
As of April 2023, the company disclosed that it had over 150 million users. It has a similar growth model, making acquisitions and integrating
new acquisitions on its platform.
Coursera:
The leading Edtech company in the U.S, Coursera is an online program manager for a range of universities, enabling students to take
university courses online. The platform has approximately 5,500 courses and over 118 million learners. It listed on the New York Stock
Exchange in March 2021 and had a market capitalization of approximately $1.63 billion, as at April 12, 2023. Unlike GeniusU or BYJU it
does not create or deliver its own curriculum.
Udemy:
A U.S.-based Edtech company with approximately 59 million students, Udemy has grown via its approximate 70,000 instructors who provide
courses and certifications to their students. The platform has a total of approximately 200,000 courses. However, it focuses on adult
learning and does not provide an alternative to the current schooling system, or a global community for students to connect and collaborate.
It listed on NASDAQ in October 2021 and has a current market capitalization of approximately $1.29 billion, as at April 12, 2023.
Udacity:
A U.S.-based Edtech company that is focused more on tech-based vocational training courses with over 160,000 students, Udacity is
another Edtech company that we believe has proven that there is a strong need for vocational nanodegrees supported by large tech companies.
Udacity also offers a freemium model giving students an opportunity to enroll for free and pay after one month of access.
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LinkedIn
Learning:
LinkedIn purchased the Edtech company Lynda for $1.5 billion, and LinkedIn was subsequently purchased by Microsoft for
$26.2 billion. Similar to GeniusU, Microsoft combined a social network with online courses, but focused mainly on technical and professional
courses, with a flat monthly subscription rate. Like Udemy and Udacity, its focus is on professional adult learning.
Guild
Education:
Another billion-dollar Edtech startup, valued at over $4.4 billion in June 2022, Guild Education provides courses and
degrees funded by companies for its employees. Together with similar Edtech companies like BetterUp and Degreed, it is focused on up-skilling
employees who are already in a job, with its education and mentoring funded by its employer as an additional benefit.
China
East Education
: China East Education is the first of a series of recent China-based listed companies which are focused on vocational
education, which has also included China Education Group, New Oriental Education and China Online Education Group. China East Education's
initial public offering in 2019 raised $625 million and was the largest in the world, underlining the current growth in vocational education.
It has a valuation of approximately $8.2 billion as of April 12, 2023.
Our
Technology
Overview
We
believe that Edtech will expand beyond the specific activity of learning, to the application of that learning. We have seen this within
GeniusU where engagement is much higher when students can use the same environment in which they are learning to connect to others, share
their learning, find team members and opportunities, and run their learning projects and challenges on the platform.
As
described below, we believe our technology connects three tech sectors, Edtech, social media and productivity tools, and can be seen
in the features that GeniusU provides to our students and faculty.
Edtech
.
Faculty and education partners post their courses on GeniusU, which are then organized and recommended based on student rankings. Students
take the courses and receive credits based on both the student rankings and recommendations from their AI-driven Genie.
Social
Media
. All faculty and education companies have their own personal profile pages on GeniusU and receive both recommendations and
ratings from students. Students connect with mentors, team members and partners around the world with their own profiles, with the ability
to post comments in social circles linked to each course, send personal messages and search for the mentors, team members and partners
most aligned to their purpose, passion, talents and interests.
Productivity
Tools
. Faculty and education partners have a full suite of productivity tools to run their business on GeniusU, from posting courses
and products to marketing their courses, running their courses, hosting their events, building their community, receiving payments, distributing
commissions and tracking their students' progress. Students also receive a full suite of productivity tools with their own dashboard
to track their learning, manage their learning, find their mentors and teams and find the right opportunities to pursue.
Gamified
Learning
GeniusU
is designed to make learning engaging and fun, with students undertaking challenge-based learning projects. Microdegrees are pre-designed
online courses that include interactive video, exercises and assessments in which students can track their learning, earn credits, leave
comments, rate the courses and connect with our faculty. Microschools are online courses conducted in real-time over one-week, two-week
and four-week periods in which students start and complete the courses together, sharing their assignments and final work with each other
and competing for awards and prizes if they choose to. Students earn credits called Genius GEMs for contributions they make to the platform,
including credits for making connections, posting messages, leaving testimonials and taking microdegrees and microschools.
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Digital
Credit System
GeniusU
also has its own digital credit system: GEMs operate as an education credits and reward system on the platform. GEMs are earned in the
same way as credits are earned towards High School diplomas and University degrees. They operate like a loyalty program where GEMs earned
can be used to purchase additional courses, mentoring or resources on GeniusU, or used to retake courses.
Artificial
Intelligence
GeniusU
currently has a virtual assistant, Genie, to recommend the best courses, connections and actions for each student. We have released our
next iteration of Genie with Chat GPT4, an AI-driven virtual guide that each student can personalize and grow to become their learning
assistant for life. The first stage of this is completed with the development of Genie as a chatbot, and in 2023 are investing in the
underlying data intelligence and AI platform of GeniusU in collaboration with Open.AI to develop Genie into a personalized Intelligent
Virtual Assistant (IVA) with conversational AI, providing each student and partner with personalized advice and feedback based on their
talents, passions, purpose and goals. We are using GPT-4 as our AI engine to build the intelligence of our Genie AI, and plan to integrate
with EinsteinGPT developed by our CRM provider, Salesforce, to segment, target and predict the next steps of our students.
Augmented
Reality and Virtual Reality
We
are also developing augmented reality with locational tracking, where entrepreneur students can connect with each other at our venues
and events, directly connecting with the most useful mentors, community members and opportunities in their area. We believe that there
is potential for virtual reality for immersive education and the ability for students to join microschools and programs virtually in
the coming decade. Our goal is for our community, faculty and curriculum to be able to upgrade to new technologies like augmented reality
and virtual reality as they become commercially viable.
We
believe the three-dimensional virtual world of the Metaverse will replace the two-dimensional environment of the Internet in popularity,
and we are planning to migrate our community into virtual learning environments as they evolve. We are planning to use the Unity Engine
to develop GeniusU into a virtual world. The Unity Engine is the leading virtual world engine for mobile apps, and is the engine used
by PokemonGo for their popular augmented reality game and by Meta in the development of their virtual reality platform.
Instant
Translation
Our
curriculum and content on GeniusU are already translated into Japanese, Chinese, Thai, Spanish, French, Polish and Czech. We are developing
GeniusU to enable instant translation for both curriculum and communication. This will mean students in most countries will have access
to our global faculty and curriculum on GeniusU in the future, enabling our students to learn and our faculty to mentor across multiple
countries and languages.
Data
Intelligence
We
capture data on all students and faculty with their permission to provide personalized pathways for their learning and teaching. This
includes all personal details and social media, assessment results, learning steps, enrollment, and purchase and payment history, along
with connections, attendance and activity on GeniusU. Our GeniusU platform is linked to Salesforce as our CRM and Stripe as our payment
platform, enabling us to build a powerful data-driven approach to recommend the best connections, courses and learning steps for each
student to take along with the tools for faculty members to attract and engage their students.
Our
Intellectual Property
Genius
Group Ltd has registered "GeniusU", "Genius School", "Entrepreneurs Institute", "Talent Dynamics"
and "Wealth Dynamics" figurative trademarks with the Intellectual Office of Singapore using Nice Classification, an international
classification of goods and services applied for the registration of trademarks.
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Property
Investors Network has registered "PIN" figurative trademark, "Property Mastermind" word trademark and "Mastermind
Accelerator" word trademark with the Intellectual Property Office Trademark Registry of Great Britain and Northern Island.
All
the above-mentioned trademarks are in the process of registration by the World Intellectual Organization ("WIPO") for the
territory of United States of America and European Union. The WIPO is a conglomerate of partner nations throughout the world, and a trademark
that is registered with the organization is known as a WIPO trademark. The purpose of this international trademark is to protect intellectual
property on a global level.
All
other companies within the Group have not registered any trademarks.
Community
Our
community on GeniusU Platform includes over 3.11 million students across 20,345 cities and 191 countries, meeting online and in over
500 events, with over 8,500 new students joining every week. Our faculty consists of over 2,500 mentors and certified trainers delivering
online and in person education as part of a multi-year curriculum to build entrepreneurial expertise. These include world famous entrepreneurs
and New York Times bestselling thought leaders.
Our
community is an important part of our company, as students return at each stage of their entrepreneurial journey to make new connections
and pursue new opportunities as well as to learn new things. As the value of their experience increases as they bring their teams and
partners with them, there is a high level of referral and word-of-mouth.
We
have regional leaders that provide local mentoring and community connection in their countries and cities, using our GeniusU platform
in their local area. We divide our global activity into three regions, each spanning eight time zones and collectively covering all twenty-four
time zones. This means our curriculum is open 24/7, and at any time of day there are students learning on GeniusU.
The
three regions are: APAC (Asia Pacific, North Asia and Australia); EMEA (Europe, Middle East and Africa); and NASA (North America and
South America). Our community is fairly evenly divided between these three regions. We track the location of approximately 75% of our
students and mentors, and they are spread across the three regions for the period ending December 31, 2022 as follows:
Students
Paying Students
APAC
733,886
12,564
EMEA
677,468
12,974
NASA
452,661
11,387
Not Tracked
1,244,020
6,213
Total
3,108,035
43,136
Culture
We
have developed a strong culture within our team, partners, faculty and community. This culture is based on six core principles that are
practiced and recognized throughout the organization. They are the primary focus and first point of discussion on our quarterly company
meetings and are the subject of our monthly Genius Shine Awards, in which team members nominate fellow team members based on them practicing
our "Genius Values": global, entrepreneurial; natural; inspiring; unique; and smart.
The
way in which we educate our team, partners and community about our culture, enables us to align and lead our team remotely, to maintain
a high level of trust with our partners and community, and integrate new acquisitions effectively into our global family.
Our
focus on educating entrepreneurs to "create a job" instead of "getting a job" extends to our own team and partners,
where we have an ongoing focus on developing each of our team, partners, faculty and community and to the next level of their own entrepreneurial
journey. This has led to students becoming mentors, mentors becoming partners, partners becoming team members and team members becoming
students. We believe that it has also led to a strong investor community as our students and mentors improve their own financial success
and choose to reinvest part of this success back into Genius Group.
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This
strength in our culture provides an ongoing deal flow, talent flow and resource flow that enables the Group to develop from the ongoing
growth of our community.
Sales
and Marketing
We
believe that a key factor in our consistent growth has been our sales and marketing approach. We follow a quarterly schedule of promotions
in which cross-functional teams focus on revenue and profit targets related to their product range and customer base, with a sales and
marketing approach which is supported by a combination of five routes to market.
Digital
Marketing
We
believe that we have strong digital marketing expertise, which enables us to take the courses of our partners and acquisition companies,
turn them into digital courses, and scale their reach to students around the world. We track students in four categories:
1.
Our
    followers are potential students who are paying us attention by following our free content on social media and by visiting our free
    course pages and videos. We track our followers via cookies and retarget them with relevant content until they become members.
2.
Our
    members are free students who are paying us time by registering on GeniusU for a free account and accessing our curriculum, community
    and free learning tools. We personalize content and engage with our members until they become prospects.
3.
Our
    prospects are potential paying students who have experienced our free courses and are visiting a course enrollment page or booking
    a free discovery call with our faculty with a view to enrolling in a paid course. We invest additional time and attention to prospects
    until they become paying students.
4.
Our
    paying students who are paying us money.
We
believe that this digital marketing approach gives us scalable unit metrics with an average cost of acquisition per new student of $1
and a revenue per new student of $15. Our average cost of acquisition per paying customer is $254 and our average revenue per paying
customer is $1,002, giving us a 4x return on marketing spend.
Affiliate
Marketing
We
have a strong community of partners and faculty who promote our courses and programs, and earn affiliate marketing fees for new enrollments
and upgrades. We have over 14,700+ partners as of the date of this Annual Report who earn commissions via GeniusU. Our commissions are
paid for different components of the student journey, with up to 20% paid for marketing referrals, 10% paid for the enrollment process,
30% paid for delivery and 10% paid for content.
As
a result, partners can choose one or more parts of the process to be rewarded for, from the marketing, to the sale, to the training,
to their content. This leads to teams in which everyone contributes in the area where they are strongest. This also enables educators
who have strong content to connect with partners with strong communities such that both sides benefit financially.
Referral
Marketing
While
many education and Edtech companies rely on their marketing and enrollment teams to attract new students, we have the added benefit of
viral products to deliver referrals and word-of-mouth. Our free assessments such as the Genius Test, Passion Test and Purpose Test attract
over 8,500 new students weekly who take the tests to discover more about themselves, and then they encourage their teams and peers to
take the tests and connect on GeniusU, where they then find personalized paths for their learning.
Our
freemium model enables new students to experience GeniusU and the Genius Curriculum for free, and our product pathway then enables them
to take affordable steps into our courses and certifications. This creates a network effect where everyone is able to progress seamlessly
at a level which works for them, and invite others in to join them at each level.
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Locational
Marketing
Our
global network of local City Leaders and faculty members has led to the word of mouth offline to be even greater than the referrals online.
Many students first hear about our Company from friends and colleagues at local meet-ups and through a connection with a mentor or student.
We
believe that this high-tech, high-touch structure of an enhanced real-world learning environment with a digital layer being the future
of education, which will be further enhanced as we develop our augmented reality and virtual assistant tools on GeniusU. We believe that
all of our acquisition companies achieved early success through local marketing, and with the addition of our digital tools each is now
scaling their local marketing globally through local microschools, learning pods, faculty, event hosts and partners.
Repeat
Purchases and Upgrades
A
large portion of our revenue comes from returning students and students progressing to the next level of their learning. While we believe
that most education institutions have a limited lifespan per student, Genius Group has a curriculum that a student can follow from early
learning through to adult learning. By also having a seamless continuum between learning, earning and teaching, many of our faculty began
as students and have now progressed on to teaching others. We believe that this "learning for life" model gives us a high
lifetime value per student with strong retention and repeat business.
Customer
Service
We
believe that modern education has operated largely as a basic service, largely regulated by governments and delivered at low cost and
low service levels, while being high-priced and compulsory. We see the opportunity for disruption in transforming education into a model
more aligned to the hospitality industry, with high levels of customer service and satisfaction.
This
customer service is reflected in the personalized pathways, rapid response rates, personal mentorship and proactive community management
we provide globally. Our local and global teams are trained to deliver a high quality of advice and service. Each leadership team shares
a student story on our weekly global team meeting, keeping the customer experience and the forefront. The high level of service we provide
in our entrepreneur resorts and cafes is extended to our colleges and microschools, and this is a large part of what brings students
back consistently to our community.
Employees
As
at December 31, 2022 we have 573 employees and contractors, with 18 in Genius Group Ltd, 59 in GeniusU Ltd, 214 within Entrepreneur Resorts
Ltd, 165 in University of Antelope Valley, 26 in Property Investors Network, 35 in E-Squared Education, 20 in Education Angels and 36
in Revealed Films. We operate as one global team with regional leadership, and we established a remote working culture prior to the COVID-19
crisis, which put us in a strong position to manage through the crisis without any major change to our management process.
By
illustration, our main leadership team works from Singapore, Australia, New Zealand, Indonesia, South Africa, England, Portugal, Poland
and the United States. Our accounts team operates from Australia and our development team works from India, Ukraine and Poland. Our campus
teams are based in Indonesia, Singapore and South Africa.
While
we see our fully employed team continue to grow, when our 573 employees are put in context of our 14,700+ partners, we see our talent
acquisition strategy to be equally focused between the growth and development of our full-time team and growth and development of our
partners and faculty.
Legal
Proceedings
From
time to time we may be subject to litigation and arbitration claims incidental to its business. Such claims may not be covered by our
insurance coverage, and even if they are, if claims against our business are successful, they may exceed the limits of applicable insurance
coverage.
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Further
Company Information
The
information in this business section has been written to include details on each of the Pre-IPO Group companies and Acquisition companies
in the context of our Group structure and growth strategy as a whole. This section provides further material or relevant details on each
company specific to each company.
Genius
Group Ltd
Genius
Group Ltd refers specifically to the holding company, Genius Group Limited, the Singapore public limited company which owns the other
companies in the Group. Prior to a corporate name change in July 2019, it was known as GeniusU Pte Ltd.
Genius
Group Ltd is the holding company that is dual listed on NYSE American and Upstream. It is currently a Singapore public limited company
that, following the various completed acquisitions and completed funding rounds.
Genius
Group Ltd.'s head office is in Singapore, at the location of Singapore Genius Central. The company has 11 staff including the Genius
Group board and management. The primary activities of Genius Group are: Setting the overall strategic direction of the Group; oversight
on the operational and financial management of each company in the Group; overseeing growth opportunities, mergers and acquisitions;
managing financing activities and investor relations; and ensuring all Group companies are aligned to our mission and culture. The company
provides strategic management, accounting, legal and human resources services to the companies within the Group.
Genius
Group Ltd.'s revenues are derived from management fees it receives from each Group company. These range from 2.5% to 5.0% of revenues.
These revenues have been eliminated in our audited accounts of the Pre-IPO Group. In the fiscal year ended December 31, 2021, Pre-IPO
Group revenues were $8.3 million. In the fiscal year ended December 31, 2022, the audited financial revenue was 18.2 million and the
pro forma revenue was $28.1 million.
We
plan to continue to grow Genius Group Ltd as the holding company for the Group in line with the growth of the Group, with a focus on
strategy, acquisitions, financing, compliance and investor relations.
GeniusU
Ltd
GeniusU
Ltd is one of the four companies in the Pre-IPO Group. The company formed in August 2019 under the corporate name GeniusU Pte Ltd, and
subsequently converted to a public company, GeniusU Ltd in May 2021 (as distinct from its parent Genius Group Ltd, the current Group
holding company, which until July 2019 used the name GeniusU Pte Ltd).
GeniusU
Ltd is 96.55% owned by Genius Group Ltd. It operates as the Edtech company within Genius Group, providing the technology that enables
us to grow our acquisitions as Edtech companies with its Edtech platform, AI digital assistant, personalized learning and global community.
The
company manages all design, development, data, content, community and commerce related to our Edtech platform. This is what we believe
gives Genius Group its competitive edge, as each student and faculty member is able to use the tools on GeniusU to design their own personalized
path and access the courses and content of all our acquisition companies from anywhere in the world.
It
also has its head office in Singapore, at the same location as Genius Group Ltd. The company has 59 staff, consisting of teams in management,
marketing, sales, product, engineering, community, partnerships and operations. This team operates virtually and while team members are
in countries around the world, they are based primarily in Singapore, Australia, South Africa, India, Ukraine, U.K and U.S.A.
GeniusU
Ltd generates revenue from education programs hosted on GeniusU by our partners together with revenue from education programs that form
our entrepreneur curriculum. The six other companies in the Group benefit from GeniusU's ability to integrate, digitize and distribute
their education programs across different age groups, and the Group in turn benefits from increasing the lifetime value and spend of
each student by providing a lifelong learning pathway.
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GeniusU's
Ltd.'s revenues are combined in the Pre-IPO Group revenues. These revenues make up 99% of the education revenue segment and 100%
of the digital education revenue segment of the Pre-IPO Group in 2021. In 2021, the Pre-IPO Group's education revenue segment was
$5.2 million. In 2022, the GeniusU's revenue was $4.9 million, this accounted for 17% of the pro forma revenue for the Group
As
with the other companies in the Group, GeniusU Ltd can raise capital directly to help fund the development of the platform. In the fiscal
year ended December 31, 2022, GeniusU Ltd raised a total of $2.7 million through an issue of ordinary shares. These were raised directly
from our investor community at a final share price that valued GeniusU Ltd at $250 million.
We
plan to continue to grow GeniusU as the growth engine for the Group with a focus on integrating, digitizing and distributing education
content from our partners and acquisition companies, while developing our community, platform, technology and AI capabilities.
Entrepreneurs
Institute
Entrepreneurs
Institute is the trading name for Wealth Dynamics Pte Ltd, a Singapore-based private limited company and one of the companies in the
Pre-IPO Group. Entrepreneurs Institute is one of the four companies in the Pre-IPO Group.
In
August 2019, Genius Group Ltd acquired Entrepreneurs Institute for $8 million. The company owns and develops the entrepreneur education
curriculum and tools in the Group, used by many of the leading fast- growth high-tech companies in the world.
Entrepreneurs
Institute historically generated revenue from education programs and tools included under the Wealth Dynamics, Talent Dynamics and Impact
Dynamics brands. It also ran the Global Entrepreneur Summit series in Asia, Australia, Africa, Europe and the U.S., and was the first
company to bring its community of entrepreneurs onto the GeniusU Edtech platform.
Prior
to the acquisition, Genius Group Ltd received 10% to 30% of Entrepreneurs Institute's revenue as a platform fee. Following the
acquisition of Entrepreneurs Institute, all products have been converted to digital offerings on GeniusU, and all revenues and costs
of Entrepreneurs Institute have subsequently been absorbed into GeniusU Ltd, with 100% of revenue becoming Edtech platform revenue in
2020. All team members of Entrepreneurs Institute also joined the GeniusU team in 2020.
The
growing community within Entrepreneurs Institute has provided a test bed for GeniusU to grow and to now attract other educators to follow
a similar model for global expansion. The loyalty of entrepreneurs within the community is demonstrated by examples of going from startup
to high-growth, initial public offering, and exit over the last 20 years, and now supporting the creation of the Genius Group curriculum
for their own children.
Entrepreneurs
Institute's revenue is now included in GeniusU's revenues. These revenues make up 99% of the education revenue segment and
100% of the digital education revenue segment of the Pre-IPO Group as explained in the GeniusU Ltd section above.
Entrepreneur
Resorts
Entrepreneur
Resorts Limited is one of the four companies in the Pre-IPO Group. The company is a Seychelles public listed company on the Seychelles
Merj Stock Exchange (Ticker: ERL). Entrepreneur Resorts was acquired by Genius Group in July 2020. The company in turn wholly owns and
operates five subsidiary companies: Entrepreneur Resorts Pte Ltd (Singapore); Genius Central Singapore Pte Ltd, Vision Villa Resorts
Pte Ltd (Indonesia); Tau Game Lodge (South Africa); and Matla Game Lodge (South Africa).
In
July 2020, Genius Group Ltd acquired 98% of the shares of Entrepreneur Resorts and its subsidiaries for $31 million, with Entrepreneur
Resorts shareholders swapping their shares for $31 million of Genius Group Ltd shares.
The
company currently owns and operates venues in three countries: Singapore, with 43 staff; Indonesia, with 81 staff; and South Africa,
with 90 staff. In Singapore, it owns Genius Central, an entrepreneur co- working hub, bar, restaurant and event space. In Bali, Indonesia,
it owns Vision Villa Retreat and Genius Café, an entrepreneur beach club. In South Africa, it owns Tau Game Lodge and Matla Lodge,
both safari lodges on the Madikwe Game Reserve. Each venue operates as a local campus for events and courses that take place on GeniusU.
When GeniusU hosts global summits, accelerator programs and microschools live, they are also attended by groups at our campus venues,
who then spend extra on food and beverage, accommodation and additional courses.
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In
the fiscal year ended December 31, 2021, revenues were $3.1 million. This accounted for 37% of the revenue for the Group. In the fiscal
year ended December 31, 2022, the revenue were $4.7 million which accounts for 17% of the pro forma group revenue.
During
2020, we divided our campus venues into the following three models: Our café model, our central model and our resort model. We
then developed the operating systems and training systems during the COVID-19 pandemic to be able to expand the three models via licensing
to venue partners post-pandemic.
Our
Genius Café Model:
Our Genius Café model is based on our Genius Café in Sanur. This is a 141-seat beach-front
venue on Sanur Beach, Bali, with the land leased on an annual renewable basis with Mercure Hotel. The café offers healthy food,
drinks, networking events, education courses and co-working for Bali's entrepreneur community. It has developed a reputation as
one of the top destinations for entrepreneurs in Bali and is currently ranked No.3 out of 431 restaurants in Sanur.
Our
Genius Central Model:
Our Genius Central model is based on our Genius Central in Singapore. This is a 177-seat bar, restaurant, education
and co-working space for entrepreneurs in Far East Square, in the center of Singapore's business district. The venue serves as
a city campus for our education programs, and despite opening in March 2020 just as the COVID-19 pandemic began, it is gaining a reputation
as a key destination for entrepreneurs in Singapore to meet and attend events.
Our
Genius Resort Model:
Our Genius Resort model is based on our three resort locations. Vision Villa Resort in Bali, based in Gianyar
on the East Coast of Bali next to the Bali Safari Park, has 17 guest rooms, a conference center, spa and a Genius Café on site.
Tau Game Lodge, in Madikwe Game Reserve in South Africa, has 30 guest rooms, a conference center, spa and daily safari drives. Matla
Game Lodge, adjacent to Tau, is a Private Members' lodge with 7 guest rooms and is managed by the same team that manages Tau. These
venues have been hosting to GeniusU events and retreats, and our post-pandemic plan is to build a calendar of workshops and retreats
that enable our students to attend our education programs in our resort locations.
During
2020, the Café model operated at 20% capacity with 37,185 orders and $342,238 revenue. The Central Model operated at 24% capacity
with 36,182 orders and $500,629 revenue. The resort model operated at 26% capacity with 8,538 room nights and $1,172,699 revenue. In
total, the locations operated at 24% capacity as a result of COVID-19.
In
the meantime, we have utilized the additional time we have had during 2020 to develop our license model to attract venue partners to
launch additional venues. We have created three models based on our café model, central model and resort model. In each model,
venue partners pay $32,000 for initial training and consulting, in which we support the setup of the campus venue with setup support,
brand guidelines, interior design review, construction support and pre-opening inspection. The venue partner then pays 4% of net sales
on an ongoing basis as a royalty fee, and 4% of net sales on an ongoing basis for marketing and use of the GeniusU platform to manage
their community and operations.
Since
launching the license model in 2021, we have attracted venue partners in Australia, Japan, England, Greece and South Africa. Our plan
is to continue to grow Entrepreneur Resorts via our license model, in order to provide a campus venue model for our community partners
who seek a GeniusU campus in their city or location.
During
2023 we plan to spin-off entrepreneur resorts and focus on our core business – education.
Education
Angels
Education
Angels is one of the five Acquisitions. The company is a New Zealand-based
home childcare and education company. Genius Group Ltd entered into an agreement to purchase Education Angels in November 2020 and completed
the acquisition in April, 2022 for a purchase price of $1.9 million. The company has a model to train childcare professionals as educators
for children from 0-5 years old, developing 21st century play and discovery skills as the first step in the Genius School curriculum.
We plan to expand this model globally via our Edtech platform, with home educators certified on GeniusU.
The
company generates revenue from parents of young children from 0-5 years old paying for an Education Angels' trained educator to
both educate and care for their child. Educators within a region can provide education and care for up to 4 children at a time and are
supervised by trained teachers. Education Angels is required to be approved by the NZ Ministry of Education (MOE) in order to operate
and receive government funding. Education Angels is approved by the MOE and 50% of Education Angels' Educator fees are paid for
by the NZ Government.
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In
2020 the company had 630 home educated students and revenue was $1.1 million. In the fiscal year ended December 31, 2021, revenues were
$0.9 million. In the fiscal year ended December 31, 2022, revenue were $0.9 million. This accounted for 3% of the pro forma revenue for
the Group.
Education
Angels has its head office in Wellington, New Zealand. The company has 20 staff and educators based throughout New Zealand. For details
of the current and future product range of Education Angels, please see the "Our Genius Curriculum" section above. For details
of our growth plans for Education Angels, please see the "Our Four-Step Growth Plan" above.
E-Square
E-Square
is one of the five Acquisitions. E-Square is an entrepreneur education campus in South Africa, providing a full range of programs from
pre-primary through primary school, secondary school and vocational college. Genius Group Ltd entered into an agreement to purchase E-Square
in November 2020 and completed the acquisition in May, 2022 for a purchase price of $3.8 million.
In
2020 E-Square had 546 students and revenues of $0.8 million. In the fiscal year ended December 31, 2021, revenues were $0.7 million.
In the fiscal year ended December 31, 2022, revenues were $0.6 million. This accounted for 2% of the pro forma revenue for the Group.
E-Square
generates revenue from students attending their pre-primary, primary and secondary schools, together with their vocational college. Prior
to the pandemic, E-Square developed their education system into a hybrid model where students attended classes while completing assignments
online on their smart phones. As a result, students can attend teacher-led classes both in person and virtually. When the pandemic resulted
in school closures in South Africa, E-Square was able to continue its operations online without undue disruption.
E-Square's
school curriculum is focused on building vocational and entrepreneurial skills, and its schools are approved by the South Africa Department
of Education. It is also a certified Microsoft Training Partner and has developed interactive technology courses for students online.
E-Square
has its campus in Nelson Mandela Bay Square, Port Elizabeth, South Africa. The school has 35 staff and in 2020 the school had 169 primary
school students, 209 secondary school students, 90 matric school students and 78 students in vocational training.
We
plan to integrate E-Square's offering globally through courses, camps and delivery of a full primary school and high school curriculum,
and our goal is to integrate E-Square's innovative approach and courses with GeniusU's Edtech platform and curriculum in
order to be accessible to our global community. We are also expanding our faculty, partnerships and campuses so that primary and high
school students can receive their education and high school diploma online, via guided home schooling or via our campuses and partner
schools. For details of the current and future product range of Education Angels, please see the "Our Genius Curriculum"
section above. For details of our growth plans for Education Angels, please see the "Our Four-Step Growth Plan" above.
University
of Antelope Valley
University
of Antelope Valley (UAV) is one of the five Acquisitions. UAV is an accredited university based on a 10-acre campus in Lancaster, California.
It offers career-focused on-campus and online programs at the master's, bachelor's and associate degree level, as well as
certificate and continuing education programs in several high-demand sectors. In July 2022, Genius Group Ltd completed the acquisition
of University of Antelope Valley for $14.5 million of purchase consideration, with a top up consideration paid based on the performance
of UAV in 2022, 2023 and 2024.
In
the fiscal year ended December 31, 2020, UAV had revenues of $10.1 million revenue. In the fiscal year ended December 31, 2021, revenues
were $9.0 million. In the fiscal year ended December 31, 2022, revenues were $8.1 million. This accounted for 29% of the pro forma revenue
for the Group. Of the student intake over the last three years, 50% were between 18 and 24 years old, 28% were between 25 and 30 years
old, 14% were between 31 and 39 years old, and 8% were over 40 years old.
UAV
has its campus in Lancaster, California, USA. The campus includes lecture rooms, labs, student accommodation, a student center, restaurant,
bar, indoor multi-purpose sports complex and administration offices. The university has 165 staff and in 2020 had 3,100 students attending
career-focused programs at the master's, bachelor's, and associate Degree-level, as well as Certificate Programs and Continuing
Education Courses in the sectors of psychology, business management, hospitality management, education, criminal justice, and sports
management, healthcare management, EMS, nursing, electrical engineering, and career training in culinary arts, emergency care technician,
fire science, medical assistant, paramedic, pharmacy technician, vocational nursing.
86
Since
its inception, the University also has a history of collaborations with industry partners, including the City of Lancaster and the City
of Palmdale, Lockheed Martin, Multiple Local Law Enforcement Agencies, Boeing, The Los Angeles County Fire Department, and Antelope Valley
Hospital, to name a few. These long-term partnerships have made UAV a preferred destination campus for students seeking high-quality
employer-approved programs. As a result of this premium brand reputation, over 40% of the students who attend UAV receive permanent employment
opportunities during their externships.
UAV
is approved for Title IV federal loans, grants and other federal, state and private financial aid. It is also SEVIS-approved for qualified
international students.
The
University of Antelope Valley was directly impacted by the coronavirus outbreak (COVID-19). On January 31, 2020, U.S. Health and Human
Services Secretary declared a public health emergency for the United States. In response to COVID-19, the University of Antelope Valley
temporarily halted significant portions of its operations. University of Antelope Valley reported a decline in revenue of 16% in 2020;
however, cost reduction measures and government support assisted in minimizing the impact and the company reported an increase in net
profit after tax of 406%. In March 2020, the Institution received approval for total of $1,613,796 grants through the Higher Education
Emergency Relief Fund (HEERF) under the Coronavirus Aid, Relief and Economic Security Act (Cares Act). In May 2020, the Institution received
approval for a $1,136,120 note payable through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief and Economic Security
Act (Cares Act). This note was forgiven in November 2020, and the forgiveness was recorded as accrued other income during the fiscal
year ended December 31, 2021.
UAV
Courses
UAV
currently runs the following certificate programs, associate degree programs, bachelor's degree programs and master's degree
programs. Programs range from $13,000 to $30,000 in tuition fees per year, and programs are from one year to three years in duration.
The following are the programs UAV currently offers:
➢
Certifications
    in:
Culinary Arts & Restaurant Management, Emergency Medical Technician, Massage Therapy, Medical Assistant, Medical Billing
    & Coding, Paramedic, Pharmacy Technician, Professional Baking & Pastry, and Vocational Nursing.
➢
Associate
    Degrees in:
Allied Health, Business Management, Criminal Justice, Fire Science, Health & Fitness, Healthcare Management,
    Hospitality Management and Paramedic Science.
➢
Bachelor's
    Degrees in:
Business Management, Communication, Criminal Justice, Electrical Engineering, Health Fitness Specialist, Healthcare
    Management, Hospitality Management, Psychology and Sports Management
➢
Master's
    Degrees in:
Business Administration, Criminal Justice and Education.
A
key aspect regarding UAV's WASC approved programs is that UAV can establish new courses or "concentrations" based on
its current approved programs by modifying elements of the programs without additional approvals needed. For example, UAV can add a 'concentration'
of 'international marketing' to its current WASC approved course, Master's in Business Administration, and immediately
establish a new 'approved' course entitled, "Master's in Business Administration — Entrepreneurship,"
without needing additional approval from WASC. This can be replicated for all of the current bachelor's and master's degree
programs that have been approved by WASC that UAV currently offers, both on-ground and online.
87
UAV
Accreditations
UAV
currently has accreditations with the following organizations and accrediting bodies:
➢
WASC
    (WASC Senior College & University Commission — WSCUC):
The WASC Senior College and University Commission is a regional
    accrediting agency serving a diverse membership of public and private higher education institutions throughout California, Hawaii,
    and the Pacific as well as a limited number of institutions outside the U.S. The WASC Senior College and University Commission (WSCUC)
    is recognized by the U.S. Department of Education as certifying institutional eligibility for federal funding in a number of programs,
    including student access to federal financial aid.
➢
US
    Department of State for the International Exchange Programs (I-20 SEVP- F1 Visa):
Student and Exchange Visitor Program (SEVP)
    certification allows institutions to issue Forms I-20, "Certificate of Eligibility for non-immigrant Student Status,"
    to prospective international students after admitting them for a course of study. Prospective international students then use the
    Form I-20 to apply for a visa to enter the United States.
➢
Commission
    on Accreditation of Allied Health Education Programs (CAAHEP):
The Commission on Accreditation of Allied Health Education Programs
    is the largest programmatic accreditor of the health sciences professions. In collaboration with its Committees on Accreditation,
    CAAHEP reviews and accredits over 2100 individual education programs in 32 health science occupations. CAAHEP accredited programs
    are assessed on an ongoing basis to assure that they meet the Standards and Guidelines of each profession. CAAHEP is recognized by
    the Council for Higher Education Accreditation (CHEA). CAAHEP is also a member of the Association of Specialized & Professional
    Accreditors (ASPA).
➢
Bureau
    for Private Postsecondary Education (BPPE):
The Bureau protects students and consumers through the oversight of California's
    private post-secondary educational institutions by conducting qualitative reviews of educational programs and operating standards,
    proactively combating unlicensed activity, impartially resolving student and consumer complaints, and conducting outreach.
➢
Emergency
    Medical Services Agency — Los Angeles County (EMS):
The EMS Agency is responsible for planning, implementing, monitoring,
    and evaluating the local EMS system. This includes establishing policies, addressing the financial aspects of system operation, and
    making provisions for collection, analysis, and dissemination of EMS related data. Also, the EMS Agency is responsible for establishing
    operational policies and procedures; designating EMS base hospitals and specialty care centers, such as trauma centers; developing
    guidelines, standards and protocols for patient treatment and transfer; implementing a prehospital ALS program; certifying and accrediting
    prehospital medical care personnel; and approving EMS personnel training programs.
➢
Commission
    on Accreditation for Prehospital Continuing Education (CAPCE):
CAPCE Accredited certificates of attendance provide EMS professionals
    with the documentation required for maintaining their EMS license and/or NREMT certification.
➢
Board
    of Vocational Nursing & Psychiatric Technicians (BVNPT):
The mission of the California Board of Vocational Nursing and Psychiatric
    Technicians (Board) is to protect the public. Public protection is paramount to the Board and its highest priority in exercising
    its licensing, regulatory, and disciplinary functions.
➢
California
    Board of Registered Nursing (BRN):
The Board of Registered Nursing protects and advocates for the health and safety of the public
    by ensuring the highest quality registered nurses in the state of California.
➢
US
    Department of Veterans Affairs (VA):
VA education benefits help Veterans, service members, and their qualified family members
    with needs like paying college tuition, finding the right school or training program, and getting career counseling.
➢
Council
    for Higher Education Accreditation (CHEA):
The Council for Higher Education Accreditation (CHEA) is a United States organization
    of degree- granting colleges and universities. It identifies its purpose as providing national advocacy for self-regulation of academic
    quality through accreditation in order to certify the quality of higher education accrediting organizations, including regional,
    faith-based, private, career, and programmatic accrediting organizations. The organization has approximately 3,000 academic institutions
    as members and currently recognizes approximately 60 accrediting organizations. CHEA is based in Washington, DC.
➢
National
    Association of Intercollegiate Athletics (NAIA):
The National Association of Intercollegiate Athletics (NAIA), headquartered
    in Kansas City, Mo., is a governing body of small athletics programs that are dedicated to character-driven intercollegiate athletics.
    Since 1937, the NAIA has administered programs dedicated to championships in balance with the overall college educational experience.
    Each year more than 77,000 NAIA student-athletes have the opportunity to play college sports, earn over $800 million in scholarships,
    and compete for a chance to participate in 27 national championships.
➢
California
    Commission on Teacher Credentialing:
University of Antelope Valley is seeking initial institutional approval by the California
    Commission on Teacher Credentialing. This approval would allow the University of Antelope Valley to sponsor educator preparation
    programs in California. Interested parties are invited to submit comments that may help to inform the Commission of substantive issues
    regarding this institution.
88
UAV
Student Funding
Prior
to enrolling at UAV, all students are encouraged to explore the availability of financial aid funding through state and federal agencies.
The majority of financial aid available to students is provided by the Federal Government and referred to as Title IV Aid. This includes
the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), Federal Direct Loan Program,
and Parent Loans for Undergraduate Students (PLUS). Also, students may be eligible to participate in institutional or private loan programs
that enable students to contribute to his/her education while in college. The university is also eligible to participate in several state
agency programs.
UAV
Growth Plan
We
have provided details on how we plan to integrate and expand UAV's product offering as part of our Genius Curriculum in the sections
"Our Genius Curriculum" and "Our Four-Step Growth Plan" above.
In
addition, we plan to expand UAV's growth in courses and student numbers in Lancaster. As part of the acquisition process, WSCUC's
Structural Change Committee conducted a review of the acquisition from March to May 2021. This included interviews with owners, management,
faculty and students, together with review of our transition plan and growth plans for UAV. WSCUC approved the acquisition based on these
interviews and plans, and below are highlighted elements.
Property
Investors Network
Property
Investors Network (PIN) is one of the five Acquisitions. PIN refers to Property Investors Network Ltd combined with its sister company
Mastermind Principles Limited, a United Kingdom ("U.K.") private limited company. PIN is a U.K.-based company that provides
investment education through its fifty city chapters and monthly events in England, held both virtually and in-person. We believe that
PIN is the largest property investor network in England based on student numbers, with almost 164,000 students, of which 76,700 are free
students and 67,987 are paying students. On November 30, 2020, Genius Group Ltd signed a definitive agreement to acquire 100% of the
voting equity interest of Property Investors Network Ltd and Mastermind Principles Limited for purchase consideration of $29.7 million
and completed the acquisition in April, 2022.
PIN
has a digital education and event model for investor education that Genius Group plans to expand globally via its Edtech platform.
In
2020 PIN had revenues of $4.6 million. In the fiscal year ended December 31, 2021, revenues were $5.1 million. In the fiscal year ended
December 31, 2022, revenues were $3 million. This continued to account for 11% of the pro forma revenue for the Group.
PIN's
students join PIN online or via the fifty city chapters managed by PIN City Hosts. Each City Host is an active property investor and
each monthly event is attended by property investors in the local area, where they learn from guest speakers and share opportunities.
PIN
generates revenues from event and membership fees, and from members purchasing property, education courses and mentorship. These include
two-day summits, six-week microcourses and twelve-month mentorships. During the pandemic all events and programs became completely virtual,
and revenues saw an increase.
We
are integrating to expand PIN's city host model globally, to integrate it with GeniusU's own City Leader model and to manage
all PIN's events and community on the GeniusU Edtech platform. We also are extending PIN's courses and certification programs
to grow its faculty globally, and to integrate its financial literacy, investment literacy and business communication courses in our
high school and university programs. We see these skills as being important parts of our global curriculum. For details of the current
and future product range of PIN, please see the "Our Genius Curriculum" section above. For details of our growth plans for
PIN, please see the "Our Four-Step Growth Plan" above.
Revealed
Films
Revealed
Films is one of the five Acquisitions. The company is a Delaware based Film Production Company. Genius Group Ltd entered into an agreement
to purchase Revealed Films on October 3, 2022 for a purchase price anticipated to be approximately $20.4 million with earnout and claw
back payments in 2023, 2024 and 2025 that are contingent on meeting certain revenue and profitability criteria. The company is a film
production company based in Utah that launches three to four docu-series per year covering topics such as wealth building, health and
nutrition, medical issues, religion, and political matters. The acquisition will enable Genius Group to enhance and supplement its always-evolving
curriculum with high-quality entrepreneurial education videos.
Revealed
Films Inc. was founded in 2017 by award-winning filmmaker and television producer Jeff Hays and wellness and business expert Patrick
Gentempo.
In
2022 the company had 36 staff working as an employee and contractor and the revenues were $5.9 million. This accounted for 21% of the
pro forma revenue for the Group.
Revealed
has its head office in Utah, United States. The company's staff is based throughout the United States. For details of the current
and future product range of Revealed Films please see the "Our Genius Curriculum" section above. For details of our growth
plans for Revealed Films, please see the "Our Four-Step Growth Plan" above.
89
Regulation
Our
adult education and training are conducted globally without the need to comply with any particular education regulations. Our school
and university operations do need to comply with education regulations in various countries. The following discussion summarizes the
most significant laws, rules and regulations that affect our operations in the following countries:
Early
Learning Regulation in New Zealand, related to Education Angels
Education
Angels is required to be approved by the NZ Ministry of Education (MOE) in order to operate and receive government funding. Education
Angels is approved by the MOE and 50% of Education Angels' Educator fees are paid for by the NZ Government. The Education and Training
Act 2020 and the Education (Early Childhood Services) Regulations 2008 are the regulations that must be met by services in order for
them to hold a license and to receive government funding. The standards we are monitored on and are required to meet include:
➢
Delivery
    of the New Zealand national curricular framework
➢
Compliance
    with the Health and Safety standards, governance and premises standards of the regulations.
➢
An
    excellent quality of staff-child interaction
➢
Interesting
    learning resources and programs that engage children
➢
Engagement
    and effective communication with families and communities
➢
Positive
    home learning environments that reinforce learning
➢
Maintaining
    the specific number of qualified teachers and persons responsible.
As
is common with many countries, New Zealand does not require early learning educators to be qualified. However, in order to receive funding,
licensed home-based services require one or more coordinators with a recognized early childhood education (ECE) teach qualification and
a current practicing certificate.
Education
Angels is currently meeting all requirements in order to maintain its MOE approval.
Expansion
of Education Angels to new countries will require similar MOE or DOE approvals in each country in order for the company and parents to
benefit from government financing.
School
Regulation in South Africa, related to E-Square
The
South African Constitution permits anyone to establish private school, on the basis that the school may not discriminate on the basis
of race and it must offer education of a quality not inferior to comparable public schools. All private schools must be registered with
the Department of Education (DOE) in accordance with the South African Schools Act (SASA), 1996. A private school may not operate unless
it is registered with the education department of the province in which it is situation. In the case of E-Square, this is Port Elisabeth,
South Africa.
Certain
provinces have additional requirements to be met in order to qualify for potential local government funding options. However, given the
challenges and potential unreliability in these options, E-Square does not currently receive local government funding, and all education
is funded by students and their parents.
University
Regulation in the U.S. relevant to UAV
UAV
is subject to extensive regulation by the U.S. Department of Education (DOE) and Western Association of Schools and Colleges, Senior
College and University Commission (WASC). The regulations, standards and policies of these agencies cover UAV's educational programs,
facilities, instructional and administrative staff, administrative procedures, marketing, recruiting, finances, results of operations
and financial condition.
90
As
an institution of higher education that grants degrees and certificates, UAV is required to be authorized by WASC. In addition, in order
to participate in the federal programs of student financial assistance for our students, UAV must be accredited by an accrediting commission
recognized by the DOE. Accreditation is a non-governmental process through which an institution submits to qualitative review by an organization
of peer institutions, based on the standards of the accrediting commission and the stated aims and purposes of the institution. The Higher
Education Act requires accrediting commissions recognized by the DOE to review and monitor many aspects of an institution's operations
and to take appropriate action if the institution fails to meet the accrediting commission's standards.
UAV's
operations are also subject to regulation by the DOE due to our participation in federal student financial aid programs under Title IV
of the Higher Education Act, which we refer to in this Annual Report as the Title IV programs. The Title IV programs include educational
loans with below-market interest rates that are guaranteed by the federal government in the event of a student's default on repaying
the loan, and also grant programs for students with demonstrated financial need. To participate in the Title IV programs, a school must
receive and maintain authorization by the appropriate state education agency or agencies, be accredited by an accrediting commission
recognized by the DOE, and be certified as an eligible institution by the DOE.
UAV
is currently in good standing with WASC and a WASC reaffirmation process was completed in 2021. It is a routine approval process that
is conducted by WASC every 6, 8 or 10 years after initial accreditation. It is a year-long process which was completed by November 2021
at the WASC Commission. All BA and MA degree programs at UAV are approved for both in-person and online delivery. In addition, UAV requires
and has secured the additional accreditations and approvals from the following approval bodies in order to deliver our education programs:
➢
U.S.
    Department of State for the International Exchange Programs (I-20 SEVP — F1 Visa)
➢
Commission
    on Accreditation of Allied Health Education Programs
➢
Bureau
    for Private Postsecondary Education
➢
California
    Board of Registered Nursing
➢
U.S.
    Department of Veterans Affairs
➢
Council
    for Higher Education Accreditation
➢
Official
    SAT Test Site
➢
California
    SBDC Partner
➢
Commission
    on Accreditation for Prehospital Continuing Education
➢
California
    Massage Therapy Council
➢
Council
    for Higher Education Accreditation
➢
Los
    Angeles County Emergency Medical Services Agency
➢
Board
    of Vocational Nursing and Psychiatric Technicians
➢
National
    Association of Intercollegiate Athletics
Our
business activities are planned and implemented to comply with the standards of these bodies and regulatory agencies. We employ a full-time
director of compliance who is knowledgeable about regulatory matters relevant to student financial aid programs and our chief financial
officer and general counsel also provide oversight designed to ensure that we meet the requirements of our regulated operating environment.
Regulation
of Federal Student Financial Aid Programs, related to UA
V
To
be eligible to participate in the Title IV programs, an institution must comply with specific requirements contained in the Higher Education
Act and the regulations issued thereunder by the Department of Education. An institution must, among other things, be licensed or authorized
to offer its educational programs by the state in which it is physically located (in our case, California) and maintain institutional
accreditation by an accrediting commission recognized by the DOE. We are currently certified to participate in the Title IV programs.
91
The
substantial amount of federal funds disbursed to schools through the Title IV programs, the large number of students and institutions
participating in these programs, and allegations of fraud and abuse by certain for-profit educational institutions have caused Congress
to require the DOE to exercise considerable regulatory oversight over for-profit educational institutions. As a result, our institution
is subject to extensive oversight and review. Because the DOE periodically revises its regulations and changes its interpretations of
existing laws and regulations, we cannot predict with certainty how the Title IV program requirements will be applied in all circumstances.
In
general, the criteria that institutions must meet in order to remain qualified for Title IV funding include:
Administrative
capability
. The DOE regulations specify extensive criteria by which an institution must establish that it has the requisite "administrative
capability" to participate in Title IV programs. To meet the administrative capability standards, an institution must, among other
things: comply with all applicable Title IV program requirements; have an adequate number of qualified personnel to administer Title
IV programs; have acceptable standards for measuring the satisfactory academic progress of its students; not have student loan cohort
default rates above specified levels; have various procedures in place for awarding, disbursing and safeguarding Title IV program funds
and for maintaining required records; administer Title IV programs with adequate checks and balances in its system of internal controls;
not be, and not have any principal or affiliate who is, debarred or suspended from federal contracting or engaging in activity that is
cause for debarment or suspension; provide financial aid counseling to its students; refer to the DOE's Office of Inspector General
any credible information indicating that any student, parent, employee, third-party servicer or other agent of the institution has engaged
in any fraud or other illegal conduct involving Title IV programs; submit all required reports and financial statements in a timely manner;
and not otherwise appear to lack administrative capability. If an institution fails to satisfy any of these criteria, the DOE may require
the institution to repay Title IV funds its students previously received, change the institution's method of receiving Title IV
program funds, which in some cases may result in a significant delay in the institution's receipt of those funds, place the institution
on provisional certification status or commence a proceeding to impose a fine or to limit, suspend or terminate the institution's
participation in Title IV programs. If the DOE determines that UAV fails to satisfy its administrative capability requirements, then
the institution's students could lose, or be limited in their access to, Title IV program funding.
Financial
responsibility.
The WASC and DOE regulations establish extensive standards of financial responsibility that institutions such as
ours must satisfy to participate in Title IV programs. The DOE evaluates institutions for compliance with these standards on an annual
basis based on the institution's annual audited financial statements as well as when the institution applies to the DOE to have
its eligibility to participate in Title IV programs recertified. The most significant financial responsibility standard is the institution's
composite score, which is derived from a formula established by the DOE based on three financial ratios: (1) equity ratio, which measures
the institution's capital resources, financial viability and ability to borrow; (2) primary reserve ratio, which measures the institution's
ability to support current operations from expendable resources; and (3) net income ratio, which measures the institution's ability
to operate at a profit or within its means. The DOE assigns a strength factor to the results of each of these ratios on a scale from
negative 1.0 to positive 3.0, with negative 1.0 reflecting financial weakness and positive 3.0 reflecting financial strength. The DOE
then assigns a weighting percentage to each ratio and adds the weighted scores for the three ratios together to produce a composite score
for the institution. The composite score must be at least 1.5 for the institution to be deemed financially responsible without the need
for further DOE oversight. In addition to having an acceptable composite score, an institution must, among other things, provide the
administrative resources necessary to comply with Title IV program requirements, meet all of its financial obligations including required
refunds to students and any Title IV liabilities and debts, be current in its debt payments and not receive an adverse, qualified or
disclaimed opinion by its accountants in its audited financial statements.
If
the DOE determines that an institution does not meet the financial responsibility standards due to a failure to meet the composite score
or other factors, the institution should be able to establish financial responsibility on an alternative basis permitted by the DOE.
This alternative basis could include, in the DOE's discretion, posting a letter of credit, accepting provisional certification,
complying with additional DOE monitoring requirements, agreeing to receive Title IV program funds under an arrangement other than the
DOE's standard advance funding arrangement, such as the reimbursement method of payment or heightened cash monitoring, or complying
with or accepting other limitations on the institution's ability to increase the number of programs it offers or the number of
students it enrolls. Any requirement to post, maintain or increase a letter of credit or other sanctions that may be imposed by the DOE
could increase our cost of regulatory compliance and could affect our cash flows. If our U.S. Institutions are unable to meet the minimum
composite score requirement or comply with the other standards of financial responsibility, and could not post a required letter of credit
or comply with the alternative bases for establishing financial responsibility, then students at UAV could lose their access to Title
IV program funding.
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C.
Organizational Structure
The
nine companies within the Group are as follows:
Genius
Group Ltd
is the holding company that is dual listed on NYSE American and Upstream. It is currently a Singapore public limited company
that following the various completed acquisitions and completed funding.
Genius
Group Ltd operates as the owner of the group of companies, providing strategic management, accounting, legal and human resources services
to the companies within the Group, in addition to managing investor relations. It derives revenues from management fees, and together
with GeniusU Ltd, Entrepreneurs Institute and Entrepreneur Resorts makes up the Pre-IPO Group. In the fiscal year ended December 31,
2021, Pre-IPO Group revenues were $8.3 million. In the fiscal year ended December 31, 2022, the audited financial revenue were $18.2
million and the pro forma revenue of $28.1 million.
GeniusU
Ltd
is the Edtech company within Genius Group. GeniusU Ltd provides the technology that enables us to grow our acquisitions as Edtech
companies with its Edtech platform, AI digital assistant, personalized learning and global community. This is what we believe gives Genius
Group its competitive edge, as each student and faculty member is able to use the tools on GeniusU to design their own personalized path
and access the courses and content of all our acquisition companies from anywhere in the world. GeniusU Pte Ltd converted from a Singapore
private limited company to a Singapore public limited company (unlisted) in May 2021.
GeniusU
provides free assessments and courses to students, enabling a high volume and low cost of acquisition of new students across all age
ranges. A percentage of these students in turn upgrade and pay for events, courses and products on the GeniusU Edtech platform, guided
by our Genie AI digital assistant. A further percentage of these paying students then upgrade to our annual memberships, mentoring and
certification programs, where many choose to become certified as faculty and partners. They in turn host their own events, courses and
products on GeniusU.
At
the end of 2022, GeniusU had 3.11 million students of which 3.06 million were free students, 43,136 had upgraded to paying students and
13,005 had upgraded to become faculty or partners. Total students grew by 17% with 444,290 new students joining in at December 31, 2022,
paying students grew by 15% and our faculty and partners grew by 27% as we released a range of new tools on GeniusU for teachers, trainers
and mentors to create their own events, courses and products.
GeniusU
generates revenue from education programs hosted on GeniusU by our partners together with revenue from education programs that form our
entrepreneur curriculum. The six other companies in the Group benefit from GeniusU's ability to integrate, digitize and distribute
their education programs across different age groups, and the Group in turn benefits from increasing the lifetime value and spend of
each student by providing a lifelong learning pathway.
Entrepreneurs
Institute
is a Singapore-based company that owns and develops the entrepreneur education curriculum and tools in the Group, used
by many of the leading fast-growth high-tech companies in the world. In August 2019, Genius Group Ltd acquired Entrepreneurs Institute
for $8 million.
Entrepreneurs
Institute historically generated revenue from education programs and tools including under the Wealth Dynamics, Talent Dynamics and Impact
Dynamics brands. It also ran the Global Entrepreneur Summit series in Asia, Australia, Africa, Europe and the U.S., and was the first
company to bring its community of entrepreneurs onto the GeniusU Edtech platform.
Prior
to the acquisition, Genius Group Ltd received 10% to 30% of Entrepreneurs Institute's revenue as a platform fee. Following the
acquisition of Entrepreneurs Institute, all products have been converted to digital offerings on GeniusU, and all revenues and costs
of Entrepreneurs Institute have subsequently been absorbed into GeniusU Ltd, with 100% of revenue becoming Edtech platform revenue in
2020.
The
growing community within Entrepreneurs Institute has provided a test bed for GeniusU to grow and to now attract other educators to follow
a similar model for global expansion. The loyalty of entrepreneurs within the community is demonstrated by examples of going from startup
to high-growth, initial public offering, and exit over the last 20 years, and now supporting the creation of the Genius Group curriculum
for their own children.
93
Entrepreneur
Resorts
is a public listed company on the Main Board of the Merj Seychelles Stock Exchange (ticker: ERL) that we believe is the world's
leading group of resorts, retreats and co-working cafes for entrepreneurs and prior to acquisition operated as a sister company to Genius
Group Ltd and Entrepreneurs Institute. The company owns entrepreneur resorts in Bali and South Africa which run entrepreneur retreats
and workshops. It also owns Genius Café, an entrepreneur beach club in Bali, and Genius Central, an entrepreneur co-working hub
in Singapore. It plans to expand with a license model to other locations around the world. We are in process to spin-off Entrepreneur
resorts and focus on our core business, education.
Each
Entrepreneur Resorts venue operates as a local campus for events and courses that take place on GeniusU. When GeniusU hosts global summits,
accelerator programs and microschools live, they are also attended by groups at our Entrepreneur Resorts venues, who then spend extra
on food and beverage, accommodation and additional courses. In 2020, despite COVID-19 restrictions in our countries of operation, the
demand for connecting and learning in our community still resulted in $2 million in campus revenue, which was generated from food &
beverage revenue and accommodation revenue. This was a drop from the $4.4 million in 2019. In the fiscal year ended December 31, 2021,
revenues were $3.1 million. This accounted for 37% of the revenue for the Group. In the fiscal year ended December 31, 2022, the revenue
were $4.7 million which accounts for 17% of the pro forma group revenue.
Genius
Group Ltd entered into a further five acquisition agreements with five education companies that we plan to integrate with GeniusU and
our Genius Curriculum. These form the Acquisitions detailed below:
Education
Angels
is a New Zealand-based home childcare and education company. Genius Group Ltd
entered into an agreement to purchase Education Angels in November 2020 and completed the acquisition in April, 2022 for a purchase price
of $1.9 million. The company has a model to train childcare professionals as educators for children from 0-5 years old, developing 21st
century play and discovery skills as the first step in the Genius School curriculum. We completed the acquisition of Education Angels
on April 30, 2022 and are expanding this model globally via our Edtech platform, with home educators certified on GeniusU.
The
company generates revenue from parents of young children from 0-5 years old paying for an Education Angels' trained educator to
both educate and care for their child. Educators within a region can provide education and care for up to 4 children at a time and are
supervised by trained teachers. In New Zealand, Education Angels is approved and licensed by the New Zealand Department of Education,
and the government funds 50% of the education.
In
the fiscal year ended December 31, 2021, revenues were $0.9 million. In the fiscal year ended December 31, 2022, revenue were $0.9 million.
This accounted for 3% of the pro forma revenue for the Group.
We
are integrating to expand this model globally via our Edtech platform, with home educators certified on GeniusU and parents participating
in courses on GeniusU to guide their child's development in a more personalized way. This will take place as both a parent-funded
model and a government funded model in the countries where government funding is available. We are also expanding Education Angels'
home-based education model to primary school age, in order to provide parents with the option of guided home schooling in our curriculum.
E-Square
is an entrepreneur education campus in South Africa, providing a full range of
programs from pre- primary through primary school, secondary school and vocational college. Genius Group Ltd entered into an agreement
to purchase E-Square in November 2020 and completed the acquisition in May, 2022 for a purchase price of $3.8 million. E-Square's
training programs are government-funded, corporate- sponsored, and include a partnership with Microsoft Imagination Academy, providing
technology skills to students. We plan to expand this model globally via our Edtech platform, faculty certifications and licenses to schools
and vocational colleges.
E-Square
generates revenue from students attending their pre-primary, primary and secondary schools, together with their vocational college. Prior
to the pandemic, E-Square developed their education system into a hybrid model where students attended classes while completing assignments
online on their smart phones. As a result, students can attend teacher-led classes both in person and virtually. When the pandemic resulted
in school closures in South Africa, E-Square was able to continue its operations online without undue disruption.
E-Square's
school curriculum is focused on building vocational and entrepreneurial skills, and its schools are approved by the South Africa Department
of Education. It is also a certified Microsoft Training Partner and has developed interactive technology courses for students online.
94
In
the fiscal year ended December 31, 2021, revenues were $0.7 million. In the fiscal year ended December 31, 2022, revenues were $0.6 million.
This accounted for 2% of the pro forma revenue for the Group. We plan to integrate E-Square's offering globally through courses,
camps and delivery of a full primary school and high school curriculum, and our goal is to integrate E-Square's innovative approach
and courses with GeniusU's Edtech platform and curriculum in order to be accessible to our global community. We are also planning
expanding our faculty, partnerships and campuses so that primary and high school students can receive their education and high school
diploma online, via guided home schooling or via our campuses and partner schools.
University
of Antelope Valley (UAV)
is an accredited university based on a 10-acre campus in Lancaster, California. It offers career-focused
on-campus and online programs at the master's, bachelor's and associate degree level, as well as certificate and continuing
education programs in several high-demand sectors. Genius Group Ltd entered into an agreement to purchase UAV in March 2021 and closed
the acquisition in July, 2022 for purchase price of $14.5 million with an additional top up consideration paid based on the performance
of UAV in 2022, 2023 and 2024.
The
university is WASC accredited with Title IV approval from the US Department of Education, offering federally-backed student loans. It
is also SEVP-certified, enabling the participation of foreign students. Originally established as a Medical College, the University currently
has a focus on building vocational skills in the business, communications, legal and medical fields. Full details of UAV's certifications
and certifying bodies is provided in the "Our Accreditations" section below.
During
the pandemic UAV pivoted from on-campus education to a fully online education model with a drop in revenues that is expected to be short-term.
In the fiscal year ended December 31, 2021, revenues were $9.0 million. In the fiscal year ended December 31, 2022, revenues were $8.1
million. This accounted for 29% of the pro forma revenue for the Group. We are in the process of digitizing UAV's certificate and
degree programs on our GeniusU Edtech platform, and to enhance these programs with GeniusU's entrepreneur curriculum and learning
tools in order that our students globally can obtain a US accredited certificate or degree either virtually, through guided home study,
via our global campuses or on campus in Lancaster, California.
Our
plan is to also establish the campus of UAV in Lancaster to be the innovation lab for our global curriculum, in which we plan to attract
faculty and corporate partnerships to develop relevant course content and curriculum that we can integrate, digitize and distribute globally
via our GeniusU Edtech platform.
Property
Investors Network
is a U.K.-based company that provides investment education through its fifty city chapters and monthly events in
England, held both virtually and in-person. We believe that PIN is the largest property investor network in England based on student
numbers. Genius Group Ltd entered into an agreement to purchase PIN in November 2020 and completed the acquisition in April, 2022 for
a purchase price of $29.7 million. We completed the acquisition of PIN, which has a digital education and event model for investor education
that we are expanding globally via our Edtech platform.
PIN's
students join PIN online or via the fifty city chapters managed by PIN City Hosts. Each City Host is an active property investor and
each monthly event is attended by property investors in the local area, where they learn from guest speakers and share opportunities.
PIN
generates revenues from event and membership fees, and from members purchasing property, education courses and mentorship. These include
two-day summits, six-week microcourses and twelve-month mentorships. During the pandemic all events and programs became completely virtual
and revenues saw an increase.
In
the fiscal year ended December 31, 2021, revenues were $5.1 million. In the fiscal year ended December 31, 2022, revenues were $3 million.
This continued to account for 11% of the pro forma revenue for the Group. We are expanding PIN's city host model globally, to integrate
it with GeniusU's own City Leader model and to manage all PIN's events and community on the GeniusU Edtech platform. We also
plan to extend PIN's courses and certification programs to grow its faculty globally, and to integrate its financial literacy,
investment literacy and business communication courses in our high school and university programs. We see these skills as being important
parts of our global curriculum.
Revealed
Films Inc
is a Utah based media production company that specializes in multi-part documentaries. Such documentaries and docuseries
span various topics. From educational investment and entrepreneurial best practices by leading experts to hard hitting societal topics.
In
the fiscal year ended December 31, 2021, revenues were $20.4 million. In the fiscal year ended December 31, 2022, revenues were $5.9
million. This accounted for 21% of the pro forma revenue for the Group. We plan to expand RF's project production schedule, and
developing curriculum to offer it on the GeniusU Edtech platform. We also plan to build key courses and certification programs to grow
its speaker base globally.
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The
Company's principal subsidiaries as at December 31, 2022 are as follows:
Name
Principal
    activities
Proportion
    of
voting rights
and shares held
(directly or
indirectly)
Country
    of
Incorporation
GeniusU
    Ltd
Operating
    company including tech development platform
97%
Singapore
Wealth
    Dynamics Pte Ltd trading as Entrepreneurs Institute
IP
    holding company
100%
Singapore
Entrepreneur
    Resorts Ltd
Holding
    company – listed on Merj Exchange
95%
Seychelles
Entrepreneur
    Resorts Pte Ltd
Management
    company
95%
Singapore
Genius
    Central Singapore Pte Ltd
Hospitality
    operation
95%
Singapore
PT.
    Bali XL Vision Villa
Resort
    operation
95%
Indonesia
Tau
    Game Lodge (Pty) Ltd
Resort
    operation
95%
South
    Africa
Matla
    Game Lodge (Pty) Ltd
Resort
    operation
95%
South
    Africa
Education
    Angels In Home Childcare Limited
Early
    childhood education
100%
New
    Zealand
E-Squared
    Education Enterprises (Pty) Ltd
Primary
    and secondary education
100%
South
    Africa
University
    of Antelope Valley Inc.
Tertiary
    education
100%
USA
Property
    Investors Network Ltd
Investment
    education
100%
UK
Mastermind
    Principles Ltd
Investment
    education
100%
UK
Revealed
    Films Inc
Film
    Production
100%
USA
D.
Property,
plants and equipment.
Facilities
Genius
Group's principal operational offices are located in Singapore under a lease for 7,469 square feet of office space with an annual
rental cost of $0.45 million renewed September 2022 for a further three years. The Group has a remote working structure for most of our
team globally.
GeniusU
has its principal offices located in Singapore at the principal offices of Genius Group.
The
Entrepreneur Resorts group has physical locations of operation as follows.
●
Singapore
    - Genius Central venue with a restaurant and meeting space.
●
South
    Africa - two resort lodges in Madikwe Game Reserve, with leased management offices in Pretoria.
●
Australia
    – administration and finance services for the group operate from serviced offices in Perth.
Our
Acquisitions have physical locations of operation as follows.
●
Education
    Angels has a number of small education centers in New Zealand with its principal office in Wellington, New Zealand.
●
E-Square
    principal offices and university campus are in Port Elizabeth, South Africa under a lease on a rolling monthly basis.
●
UAV's
    principal offices and university campus are in Lancaster, California. Genius Group has a right of first refusal and option to acquire
    the property, which expires two years after closing of the acquisition of UAV.
●
Property
    Investors Network has its principal offices in Birmingham, UK.
●
Revealed
    Films has its principal offices in Utah, USA.
Genius
Group's strategy is to leverage various global infrastructure and remote working methodologies to enable flexible and cost effective
working environments for administrative and sales teams, whilst leasing or acquiring property required for location based operations.
96
Item
4A. Unresolved Staff Comments
Not
applicable.
Item
5. Operating and Financial Review and Prospects
The
following discussion of our financial condition and results of operations is based upon, and should be read in conjunction with, our
audited consolidated financial statements and the related notes included in this Annual Report on Form 20-F. This report contains forward-looking
statements. See "Forward-Looking Information." In evaluating our business, you should carefully consider the information
provided under the caption "Item 3 Key Information — D. Risk Factors" in this Annual Report on Form 20-F. We caution
you that our businesses and financial performance are subject to substantial risks and uncertainties.
In
this section "we," "us" and "our" refer to Genius Group Limited. You should read the following discussion
and analysis of our financial condition and results of operations together with our consolidated financial statements and related notes
included elsewhere in this Annual Report. The following discussion is based on our financial information prepared in accordance with
the IFRS, as issued by the International Accounting Standards Board, or IASB, which may differ in material respects from generally accepted
accounting principles in other jurisdictions, including U.S. generally accepted accounting principles, or GAAP. This discussion and other
parts of this Annual Report contain forward-looking statements that involve risk and uncertainties, such as statements of our plans,
objectives, expectations and intentions. Our actual results could differ materially from those discussed in these forward-looking statements.
Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the section of this Annual
Report titled "Item 3.D. Risk Factors." References to the number of shares or options issued by Genius Group Limited in this
section shall be to the number of shares or options issued at December 31, 2022.
Please
refer to the glossary of terms provided at the beginning of this Annual Report for aid in understanding the entities, acquisitions, products,
services and certain other concepts referred to in the management's discussion and analysis presented herein.
A.
Operating
Results
Overview
We
believe that we are a world leading entrepreneur Edtech and education group. Our mission is to disrupt the current education model with
a student-centered, lifelong learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed
in today's market.
To
help achieve our mission, we have completed an IPO on NYSE American, on April 14, 2022 and then dual listed the company on Upstream on
April 6, 2023. We have also raised follow on Convertible Note in September 2022. We grew from a Pre-IPO Group of four companies to a
post IPO Group of nine companies, once the five Acquisitions closed.
Our
Pre-IPO Group includes our holding company, Genius Group Ltd, our Edtech platform, GeniusU Ltd, and two companies that were acquired:
Entrepreneurs Institute in 2019 and Entrepreneur Resorts in 2020.
The
entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally
mainly via our GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills. Our partners and community
are global with an average of 8,500 new students joining our GeniusU platform each week in 2022. Our City Leaders have been conducting
our events (physically or virtually) in over 100 cities and over 2,500+ faculty members have been operating their microschools using
our online tools.
97
We
are now expanding our education system to age groups beyond our adult audience, to children and young adults. The five Acquisitions are
our first step towards this. They include: Education Angels, which provides early learning in New Zealand for children from early stage
5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides
vocational certifications and university degrees in California, USA; Property Investors Network, which provides property investment courses
and events in England, UK; and Revealed Films, a media production company that specializes in multi-part documentaries.
Our
plan is to combine their education programs with our current education programs and Edtech platform as part of one lifelong learning
system, and we have selected these acquisitions because they already share aspects of our Genius Curriculum and our focus on entrepreneur
education.
Our
financial growth model is based on a combination of four main factors:
1.
Growth
    by acquisition of education companies that add valuable courses, content, accreditation, campuses, faculty and students to our Group.
2.
Growth
    of our Edtech platform GeniusU as a result of converting the content, accreditation, faculty and students of our acquisition companies
    into online courses that can be delivered globally.
3.
Additional
    growth of GeniusU, with its digital curriculum and global student base, via wholly- owned curriculum, hosting partners, and their
    content.
4.
Accelerated
    growth of each of our companies within the Group, as a result of expanding the Edtech business model within each company and gaining
    the benefit of the AI, digital marketing, customer intelligence and global community that GeniusU provides.
To
provide an accurate discussion and analysis of financial condition and results of operation, the financial reports provided and discussed
below are grouped in the following sections:
Financials
for the Pre-IPO Group including acquisitions from the acquisition date:
Audited financials provided for the financial years ended
December 31, 2021 and 2022, including the acquisitions company from the date of acquisition.
Pro
forma financials for Genius Group (The full Group including the Pre-IPO Group and the Acquisitions):
Unaudited pro forma financials
provided for the financial years ended December 31, 2022 for the full Group, including all the Acquisition companies, as if they were
operating as one during these periods.
The
Impact of the COVID-19 Pandemic on Operations
Our
financial results should also be read in light of the impact of the COVID-19 pandemic which had its impact mainly in 2020 and 2021. In
2021 the pandemic disrupted the global economy. This negatively impacted large populations including people and businesses that may be
directly or indirectly involved with the operation of our Company, products, and services.
Our
response to these challenges was to cut costs, obtain landlord support where relevant and redeploy staff members where possible. At some
properties, closure created opportunities for maintenance and renovation activities, as well as staff training. This enabled us to reopen
efficiently when allowed. During 2021 all of our campus venues in Entrepreneur Resorts began to reopen in line with easing of pandemic
restrictions and revenue increased to $4.6 million in 2022 from $3.1 million in 2021.
While
campus revenue was negatively impacted in the Pre-IPO Group, online revenue has been positively impacted. Education revenue grew by 160%
from $5.2 million in 2021 to $13.5 million in 2022 as more people worked from home or in a hybrid office model. This has been due to
the continued growth of the courses and students on GeniusU, together with the growth in faculty and partners who have chosen GeniusU
as the platform where they are marketing and delivering courses. At the end of 2022 the Pre-IPO Group had 13,005 partners compared to
10,217 at the end of 2021.
98
The
five Acquisitions were also impacted by COVID-19.
The
University of Antelope Valley was directly impacted by the coronavirus outbreak (COVID- 19). In March 2020, UAV received approval for
total of $1,613,796 grants through the Higher Education Emergency Relief Fund (HEERF) under the Cares Act. In May 2020, UAV received
approval for a $1,136,120 note payable through the Paycheck Protection Program (PPP) under the Cares Act. This note was forgiven in November
2020, and the forgiveness was recorded as other income in 2021. The UAV campus closed from March 2020 to September 2021; all UAV revenue
became digital education revenue and all faculty and students proceeded with their courses online. The result of this is that the UAV
faculty and staff have experienced the effectiveness that online delivery can have, and we believe this will support our post-acquisition
integration and expansion plan, as we create and deliver UAV's first online certification and degree programs on GeniusU.
Property
Investors Network was impacted by the COVID-19 outbreak as the business model had previously been designed to operate investor education
events in-person at venues. However, the company adapted and took the opportunity to transform the model to a digital online operation.
Programs such as PIN meetings, events, workshops and accelerators were switched to an online format which resulted in increased revenue
and margins for the company in the first half of 2021Our post- acquisition plan is to continue to expand on this digital revenue model
supplemented by in-person local meetings connected to course content and connections on our GeniusU Edtech platform.
In
2020 E-Square ceased all in-person classes in South Africa for its students in response to COVID-19. However, as all course work at E-Square
is already conducted online using the student's smart phones, the move to fully online courses took place without any loss of students
or revenues. Based on our post- IPO plans, we believe E-Square will benefit from the anticipated shift towards increased online education.
Similar to UAV, E-Square reopened its campus in Port Elizabeth, South Africa in September 2021 and has moved its digital revenue back
to in-person revenue. Also similar to UAV, the school's experience with digital delivery has prepared the staff and faculty for
our post- acquisition integration and expansion plan in which we plan to expand E-Square's most popular courses online.
Education
Angels, a New Zealand based home childcare and education company, was able to maintain its model of delivering its education digitally
to its in-home educators throughout COVID-19 restrictions and this model continues as restrictions in New Zealand are lifted.
We
believe that the positive impact that the COVID-19 pandemic has had on the shift towards online education is reflected in the two companies
in the group that are currently focused on using our Edtech platform and delivering online courses.
We
expect this trend towards online education to be a long-term shift, and based on our post-IPO plans for each of the Acquisitions to digitize
and distribute their courses online via GeniusU, we believe this will have a net positive impact. The pro forma digital revenue of the
Group including the Acquisitions increased to $23.5 million in the fiscal year ended December 31, 2022, compared to $21.0 million in
2021. We anticipate that the percentage of education revenue generated by the Group will rise as the growth rate of the digital revenue
segment generated by the Group continues to exceed the in-person education.
Key
Factors Affecting Our Results of Operations
We
believe there are several important factors that have impacted and that we expect will impact or will continue to impact our financial
performance and results of operations, including:
☐
Growth
    in our student and partner numbers on GeniusU: We measure the number of students and partners that join our GeniusU platform and
    the ongoing growth in these numbers is critical to our financial success. We intend to continue to grow our student and partner numbers
    through a combination of our digital marketing activity, our global partnerships and our acquisitions. If our investment in these
    areas does not generate the expected revenue growth, then our operations and financial results could be adversely impacted.
☐
Development
    of technology on our GeniusU Edtech platform: We are investing in improving the functionality and user experience of our GeniusU
    Edtech platform. This includes investing in personalizing the experience for each student and partner with the use of A.I., and in
    utilizing the data that we collect on each student and partner to deliver this experience. We believe that successful execution of
    our technology strategy will lead to wide adoption of our Edtech platform. Any delays in commercialization of our technology or decreases
    in the expected market demand for our platform could adversely impact our operations and financial results.
99
☐
Global
    adoption of our Genius Curriculum: We intend to continue to expand the courses and products in our Genius Curriculum on a global
    basis. We intend to hire additional resources in sales, marketing and administration in order to develop the market for our Genius
    Curriculum, engage in sales activities and establish other commercial capabilities to serve the needs our students and partners.
    If our investment in our Genius Curriculum does not generate expected revenue growth, then our operations and financial results could
    be adversely impacted.
☐
Integration
    of our Acquisitions: The success of our Acquisitions is dependent on our ability to integrate each of them effectively into our group.
    We are focusing on the integration of common functions, including our management systems, data systems, financial reporting and digital
    marketing practices, as well as integrating content, technology and payment processes on our GeniusU Edtech platform. This may require
    increased investment to our normal operations, including the hiring of new personnel and increase in our system integration costs.
☐
Success
    in attracting further acquisitions: We intend for our future growth to be generated from a combination of our organic growth and
    growth through acquisitions. We intend to make further acquisitions that are complementary to our existing curriculum and technology
    and, where appropriate, to hire additional resources to support the growth and integration of these acquisitions. If we are not successful
    in attracting and integrating these future acquisitions, then our operations and financial results could be adversely impacted.
While
each of these areas present significant opportunities for us, they also pose significant risks and challenges that we must address. See
the section of this Annual Report titled "
Item 3.D. Risk Factors
" for more information.
Components
of our Operating Results
Revenue
Our
revenue is derived from education and campus segments.
Education
is further split into digital and in-person. Our most significant growth opportunities are in the digital education stream, and our model
allows us to scale with both organic growth and growth through acquisitions.
Campus
revenue includes food, beverage and accommodation. This is derived from both our students who are undertaking our courses, and from non-student
customers.
Cost
of Revenue
For
the education revenue segment, cost of revenue consists mainly of digital marketing and faculty costs. Our courses include content developed
in-house and content developed, and usually delivered, by other faculty. We pay commissions or content fees to external faculty. Cost
of revenue for this segment also includes transaction processing fees and amortization of the capital cost of the technology platform.
For
the campus revenue segment, cost of revenue includes food & beverage, delivery costs, accommodation costs, promotional discounts,
transaction processing fees, and depreciation and amortization of right-of-use assets, buildings and equipment that directly relate to
the earning of revenue.
General
and Administrative
General
and administrative expenses primarily comprise employee compensation and benefits for functions such as finance, accounting, analytics,
legal, human resources, consulting fees, and other costs including facility and equipment costs, directors' and officers'
liability insurance, director fees, and maintenance of the technology platform.
100
Key
Business Metrics and Non-IFRS Financial Measures
We
monitor the key business metrics and Non-IFRS financial measure set forth below to help us evaluate our business and growth trends, set
growth targets and budgets, and measure the effectiveness of our sales and marketing efforts. These key business metrics and Non-IFRS
financial measures are presented for supplemental informational purposes only, are not a substitute for IFRS financial measures, and
may differ from similarly titled metrics or measures presented by other companies. A reconciliation of each Non-IFRS financial measure
to the most directly comparable IFRS financial measure is provided in the "Non-IFRS Financial Measures - Adjusted EBITDA"
section of this Annual Report.
Key
Business Metrics
Please
refer to the tables under "Key Business Metrics" for data relating to the two segments of the Pre-IPO Group, and the Acquisitions,
for the years ended December 31, 2021, and 2022.
These
metrics have been used to measure and grow the Pre-IPO Group, with Education Segment metrics (related primarily to GeniusU Ltd, including
Entrepreneurs Institute's activity) and Campus Segment metrics (related to Entrepreneur Resorts). The same metrics used to measure
the Group's Education Segment will be used to measure the Acquisitions. The reason that we are choosing the same metrics is related
to our plan to convert our Acquisitions into a similar "freemium" model by which we measure GeniusU, in which students and
partners join the platform for free and then over time a percentage of them upgrade to paid courses, products and certifications. The
Acquisitions have previously measured students and financial data without necessarily focusing on cost per student or revenue per student.
This
"freemium" model is now common with online gaming companies and social networks, as it enables users to trial the value of
the content and community before committing to paying for additional value. In traditional education, this is not yet a commonly adopted
model, and students at many schools, universities or training institutions are generally expected to commit to payment before experiencing
the course or education pathway.
More
recently, Edtech companies have introduced a "freemium" model into the education industry. We have found at GeniusU that
by focusing on this model, attracting students into free courses and then building a community and content that encourages them to stay
and for a percentage to upgrade to paid courses, it results in the following benefits:
➢
Our
    Group can scale far more rapidly with students joining for free online than by relying on an enrolment sales team (which is what
    most schools and universities rely on).
➢
We
    attract free students at a much lower marketing cost per student, and as they experience our community and courses they refer their
    family, friends and colleagues to join.
➢
The
    heightened activity and scale of this approach in turn attracts more partners and faculty who join the platform, who in turn attract
    more students.
➢
This
    network effect enables us to deliver courses to a much wider and more global student body than we could with a tradition enrolment
    process.
We
believe that as we continue to focus on this approach, we will find effective ways to reduce the marketing cost per student, increase
the conversion rate and increase the annual revenue per student and lifetime value per student. By applying this same conversion model
to our Acquisitions after completion of the acquisitions, we also believe they will benefit from attracting increased student numbers
and increased partners and faculty delivering their courses globally.
We
also believe that the "freemium" model will lead to a higher quality of free courses as well as paid courses in our curriculum,
as the strength of our student retention and conversion rates will be more dependent on the students experiencing a high enough quality
of course content and a relevant enough personalized pathway to want to upgrade to higher-priced courses as a part time or full time
student than it will on the strength of an enrolment team.
For
further details on our conversion model for students and partners, refer to the "Our Conversion Model" section in this Annual
Report. For further details on the courses we plan to introduce for each of the Acquisitions to introduce the "freemium"
model, refer to the "Our Courses, Products and Services" section.
101
The
Acquisitions have previously measured students and financial data without focusing on cost per student or revenue per student, however
we have provided these measures together with all the following Key Business Metrics in the Key Business Metrics for the purpose of providing
a company-by-company comparison, and our plan is to be measuring and improving these Key Business Metrics as we convert our Acquisitions
into the "freemium" model.
The
methods used for calculating the operating data presented are consistent and the same for all businesses in the Group including the Pre-IPO
Companies and the Acquisitions.
Number
of Students and Users
Number
of Students and Users
Total
Year ended December 31, 2022
4,450,852
Year ended December 31, 2021
2,825,628
Number
of Free Students and Users
Total
Year ended December 31, 2022
4,278,933
Year ended December 31, 2021
2,768,530
102
Number
of Customers (Paying Students and Users)
Total
Year ended December 31, 2022
171,919
Year ended December 31, 2021
72,422
The
Number of Students, Number of Free Students, and Number of Paying Students are the total numbers for each at the end of the year. For
purposes of determining the Number of Students, we treat each student account that registers with a unique email as a student and adjust
for any cancellations. This number is then divided into the Number of Paying Students, who have made one or more purchases, and the Number
of Free Students, who are utilizing our free courses and products without making a purchase. We believe that these numbers are an important
indicator of the growth of our business and future revenue trends.
Two
companies, GeniusU Ltd and PIN follow a "freemium" model, explained in the section "Business — Our Conversion
Model" below. This explains their high number of total students and paying students. These are also the two companies with free
students.
GeniusU
Ltd grew total students by 48% in 2021 and a further 17% in 2022 to 3,108,035 total students, with paying students growing by 10% in
2021 and a further 15% in 2022 to 43,136 paying students. We have seen consistent growth in the number of students on GeniusU year-on-year
within the range of 10% to 20% per year. This growth is primarily due to three factors: Organic growth through word-of mouth and referrals;
partners and our acquisitions attracting new students; and direct growth from paid digital advertising. We have historically spent a
low amount on advertising as we have relied on word-of-mouth referrals and partners. Our marketing spend has been at less than 10% of
revenue for the Pre-IPO Group and less than 8% or pro forma revenue for the Group including Acquisitions.
PIN
increased total students by 20% in 2021 and a further 5% in 2022 to 164,712 total students, with paying students growing by 26% in 2021
and a further 121% in 2022 to 67,987 paying students. PIN has also been following a steady growth, with a spike in 2020 during the pandemic
as more individuals in the United Kingdom began seeking out financial education and investment education.
Following
the completion of the acquisitions, in 2023, we will begin tracking the number of free students as we introduce free courses and our
student conversion model to the three Pre-IPO Companies that have a more traditional education model. Currently these three companies
rely on enrolment directly into a full-time paid service or course, and as a result they have much lower student numbers at present.
UAV
had 489 students in 2022 compared to 525 in 2021. UAV doesn't offer any free courses and all the students tracked are paying students.
The decrease in 2022 is mainly due to the lower enrollment. RF added 1,176,820 new users and 59,722 customers to the group total in 2022.
E-Square had 602 students in 2022 students and 391 of which are paid students compared to 450 total students and 435 paid students in
2021. Education Angels total students in 2022 194 compared to 183 students in 2021.
Overall,
pro forma numbers for the Group including the Acquisitions reflect a 58% growth in total students and users in 2022 compared to 2021,
with paying students growing by 137% in 2022 to 171,919 paying students. We believe these numbers represent a consistent organic growth
with a relatively low marketing spend.
The
Number of Partners is the total number of partners at the end of the year. For purposes of determining our Number of Partners, we treat
each partner account who registers as a partner with an ability to earn on our platform as a partner. We believe that the Number of Partners
is an important indicator of the growth of our business and future revenue trends.
GeniusU's
partners represent all our partners including our community partners and our faculty, whereas the partners in UAV and Education Angels
represent the number of faculty members, and partners in PIN represent the city hosts. We plan to increase the number of partners in
all group companies in 2023 and the integration of the companies with GeniusU and our Genius Curriculum.
The
number of partners in GeniusU grew 26% in 2022. We expect a growth of 10% to 20% in partners each year. Tracking and managing our partner
is a balance between growth and maintaining quality, as the quality of each partner's courses and quality of training are important
factors as they go through their certification process.
103
At
the end of 2022, the Acquisition added 1,784 to the group total. UAV has 209 partners and faculty size, PIN has 133 active affiliates
and partners, Education Angels works with 102 partners, ESQ has 49 partners and faculty and RF has 1,262 partners. On a Pro-forma basis
Overall,
pro forma numbers for the Group including the Acquisitions reflect a 29% growth in total partners in 2022. We see this key measure as
a measure of the scalability in the delivery of the Genius Curriculum, as each partner attracts their own students to GeniusU and as
partners are joining from all parts of the world, we are able to overcome the two largest bottlenecks to the growth of most education
companies: location and teachers.
Number
of Partners
Number
of Partners
Total
Year ended December 31, 2022
14,760
Year ended December 31, 2021
11,414
104
Operating
Results
Results
for the Year ended December 31, 2022 compared to the Year ended December 31, 2021
The
below discussion and analysis are for the 2022 audited financials compared to the 2021 audited financials of the Pre-IPO Group (Genius
Group Ltd, GeniusU Ltd, Entrepreneurs Institute, and Entrepreneur Resorts). For simplicity, any reference to the year 2022 is with reference
to the 12 months financials as of and for the year ended December 31, 2022, and any reference to the year 2021 is with reference to the
12 months financials as of and for the year ended December 31, 2021.
Discussion
and analysis are also included for the 2022 pro forma financials for Genius Group compared to 2021, including the consolidated audited
financials for the Pre-IPO Group, and the financials of the Acquisitions.
For
clarity, each section below has separate paragraphs with discussion and analysis for the Group audited financials, and discussion and
analysis for the Genius Group unaudited pro forma financials (including the Acquisitions).
Revenue:
The $28.1 million in pro forma total revenue was the combination of $9.5 million in revenue from the Pre-IPO Group, and $18.6 million
in revenue from the Acquisitions. Acquisition revenue further breaks down to the following: University of Antelope Valley, $8.1 million
in revenue (29% of total); Property Investors Network, $3.0 million in revenue (11% of total); Education Angels, $0.9 million in revenue
(3% of total); E-Square, $0.6 million in revenue (2% of total) and Revealed Films, $5.9 million in revenue (21% of total).
Our
two main revenue segments are Education Revenue and Campus Revenue. Education Revenue consists of Digital Education Revenue, where the
courses are delivered virtually on GeniusU, and In-Person Education Revenue, where the courses are delivered to our students with the
aid of our faculty in-person. Digital Education Revenue also includes Revealed Films docuseries sales and their third-party affiliate
sales commissions. Campus Revenue consists of revenue we generate from our locations through accommodation, food and beverage charges.
Our
audited Group revenues increased from $8.3 million in 2021 to $18.2 million in the fiscal year ended December 31, 2022. This was driven
by an increase in Education Revenue of 161% from $5.2 million to $13.6 million and increase in campus revenue by 50% from $3.1 million
in 2021 to $4.6 million in 2022.
The
following table shows the breakdown of this revenue into segments for both Genius Group and the audited Group:
Genius Group
Genius Group
Pro forma
Audited Financials
Year Ended
Year Ended
December 31,
December 31,
2022
2021
2022
2021
(USD 000's)
(USD 000's)
(USD 000's)
(USD 000's)
Digital Education Revenue
13,837
10,286
8,012
5,194
In-Person Education Revenue
9,654
10,699
5,544
0
Total Education Revenue
23,491
20,985
13,556
5,194
Campus Revenue
4,638
3,101
4,638
3,101
Total Revenue
28,129
24,086
18,194
8,295
105
Included
in the pro-forma revenue for 2022, the acquisitions of UAV generated revenue of $8.1 million compared to $9.0 million for 2021. The reduction
reflects the impact of the COVID-19 pandemic on on-campus learning, and the delayed effect of transitioning to online learning. The campus
returned to full operations since September 2021, however, the student enrollment remained affected due to travel restrictions and global
market conditions. PIN's revenue was $3.0 million compared to $5.1 million in 2021. PIN was not able to re-commence operating successful
physical events which resulted in decreased revenue. Education Angels revenue was $0.9 million for both 2022 and 2021, E-Square revenue
was $0.6 million compared to $0.7 million for 2021 and Revealed Films reported revenue of $5.9 million in 2022 compared to $13.4 million
in 2021. The RF revenue decrease was related to lower films released and lower third-party affiliate sales in 2022.
Cost
of Revenue:
The Group's cost of revenue was $9.6 million in 2022 with $8.6 million gross profit, for a 47% gross margin. The
Group's cost of revenue was $5.5 million in 2021 with $2.8 million in gross profit, for a 33% gross margin. Our cost of revenue
decreased in percentage terms to revenue in 2022 as a result of acquisition expense synergies and the inclusion of higher gross margin
acquisitions.
Genius
Group's pro forma cost of revenue in the fiscal year ended December 31, 2022 was $13.3 million, delivering a gross profit of $14.8
million and a 53% gross margin, compared to 2021 pro forma cost of revenue which was $11.4 million, delivering a gross profit of $12.7
million and a 53% gross margin. By owning the majority of our own curriculum and courses across all companies and acquisitions, we are
focused on maintaining a low cost of content and a high gross margin. The cost of revenue that we do incur is mainly our customer acquisition
costs and our faculty costs.
For
the fiscal year ended December 31, 2022, on a pro-forma basis, UAV had $3.9 million in direct cost with 52% gross margin compared to
$3.5 million in direct cost with a 61% gross margin in 2021. The increase in cost of sales was mainly due to the campus returning to
full operation in 2022. PIN had $1.4 million in direct cost with 53% gross margin for the year ended December 31, 2022, compared to $1.9
million in direct cost with a 63% gross margin in 2021. The increase in cost of sales was mainly due to a return to holding physical
events which failed to generate the desired revenue. Education Angels had a $0.4 million direct cost with a 60% gross margin for the
year ended December 31, 2022, compared to $0.5 million in direct costs with a 51% margin in 2021. E-Square had $0.3 million in direct
costs with 53% gross margin for the year ended December 31, 2022 and historically E-Square has included all costs in overhead and did
not report any direct costs. For the year ended December 31, 2022, Revealed Films had a $1.9 million in direct cost with $4.0 million
in gross profit delivering 68% gross margin.
UAV's,
Education Angel, and E-Square direct costs are largely faculty, teacher and course costs, and they have historically spent a minimal
amount on marketing, whereas PIN's cost is made up largely of digital marketing, commission and event costs. During the fiscal
year ended December 31, 2022, with the exception of PIN, none of the Acquisitions were yet implementing any of the growth strategies
utilized by the Pre-IPO Group. We expect cost of revenue to decrease as we synchronize and rationalize the process and gross margins
to increase as revenues grow, as we apply our marketing and partner costs to grow these companies.
Operating Expenses:
The Group had operating expenses of $50.5 million in the fiscal year ended
December 31, 2022 compared to $7.3 million 2021. Approximately 56% of our operating expense is due to impairment loss on goodwill of $28.2
million and most of the remaining 44% is due to General and Administrative expenses. The administrative expenses include cost for our
staff costs, professional and consulting fees, development costs, marketing, rental and general expenses. The increase in our operating
expenses is the result of the growth in our operations, the expansion of our curriculum and IPO, legal and listing expenses.
Genius Group's pro forma operating expenses
were $57 million for the fiscal year ended December 31, 2022 compared to $17.3 million in 2021.
106
Of our Acquisitions, on a pro-forma basis in the fiscal year ended December
31, 2022, UAV had $18.2 million in operating expenses compared to $7.2 million in 2021, PIN had $7.7 million for the year ended December
31, 2022, compared to $1.3 million in 2021, Education Angels had $0.7 million for the year ended December 31, 2022, compared to $0.5 million
in 2021, E-Square had $2.8 million for the year ended December 31, 2022, compared to $0.6 million in 2021 and RF had $4.2 million in 2022
compared to $6.3 million in 2021. For UAV, the increase in operating expenses is due mainly to the impairment loss of $11.2 million and
administrative expenses increased due to campus returning to full operation since September. In the case of PIN, the increase in operating
expenses is mainly due to impairment expenses of $5.8 million and administrative expenses increased due to the shift from physical event
costs to digital courses and PIN's online strategy. For ESQ, the increase is mainly due to impairment expenses of $2.3. For RF,
the decrease in cost is mainly due to lower revenues.
Additional
Income:
Additional Income was $0.4 million for the fiscal year ended December 31,
2022 compared to nil 2021. Genius Group's pro forma additional income was $1.2 million for the fiscal year ended December 31, 2022
compared to $1.1 million in 2021. In 2022, UAV recorded $0.8 million benefit from the write off of a loan from the prior owners compared
to $1.2 million in additional income for forgiveness of a note payable through the Paycheck Protection Program (PPP) under the Cares Act
in 2021.
Additional
Expenses:
The Group also had $15.2 million in other expenses in the fiscal year ended
December 31, 2022 compared to $0.5 million in 2021. The increase was due mainly to change in the fair value of contingent consideration
of $13.8 million and interest expense of $1.3 million. Genius Group's pro forma other expenses were $15.2 million for the fiscal
year ended December 31, 2022 compared to $0.9 million for 2021.
Recent
Accounting Pronouncements Implemented
Amendments
to IFRS 3 Reference to the Conceptual Framework Relating to
Business
Combinations
January
    1, 2022
Amendments
    to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract
January
    1, 2022
Annual
    Improvements to IFRS Standards 2018-2021
January
    1, 2022
Amendments
    to IAS 16 Property, Plant and Equipment – Proceeds before Intended Use
January
    1, 2022
The
Company's adoption of the standards above had no material impact on the consolidated financial statements in the year of initial
application.
107
B.
Liquidity and Capital Resources
Our
principal sources of liquidity are our cash and cash equivalents, short term investments, and cash generated from operations. Cash and
cash equivalents and short term investments consist mostly of cash on deposit with banks. As of December 31, 2022, we had cash and cash
equivalents of $5.7 million maintained at various financial institutions and $11.1 million in restricted cash. We have funded our operations
primarily through cash flows from operations, and have raised capital for the purpose of business acquisitions and development of the
technology platform.
We
will repatriate cash from our subsidiaries by repayment of intercompany balances where in existence until exhausted, and otherwise by
way of dividends. Any repatriation of cash in the form of a taxable payment, such as a dividend distribution, would generally be tax
exempt in Singapore or otherwise taxable at the Singapore standard corporate tax rate, which is currently 17%.
In
April 2022, the Company completed its Initial Public Offering and listing on the New York Stock Exchange. Total gross proceeds from the
IPO was $22.5 million and was used to pay the IPO expenses, acquisition payouts and the growth of the business. Further in September
2022, the Company closed the follow on round for $17.0 million.
We
believe our existing cash and cash equivalents, short term investments, and the cash flow we generate from our operations will not be
sufficient to meet our working capital and capital expenditure needs and other liquidity requirements for  the next 12 months based
on the change in Company's 2022 convertible loan terms in which company has elected to pay all future payments in cash. However,
our future capital requirements may be materially different than those currently planned in our budgeting and forecasting activities
and depend on many factors, including our rate of revenue growth, the timing and extent of spending on content and research and development,
the expansion of our sales and marketing activities, the timing of new product introductions, market acceptance of our products, our
convertible note repayable schedule , our continued international expansion, the acquisition of other companies, competitive factors,
and overall economic conditions, globally. To the extent that current and anticipated future sources of liquidity are insufficient to
fund our future business activities and requirements, we may be required to seek additional equity or debt financing. The sale of additional
equity would result in additional dilution to our shareholders, while the incurrence of debt financing would result in debt service obligations.
Such debt instruments also could introduce covenants that might restrict our operations.
108
Cash
Flow
Group
— Consolidated Statement of Cash Flows Data:
For the year ended
For the year ended
December 31,
December 31,
2022
2021
(USD)
(USD)
Net Cash Used In Operating Activities
(8,236,431
)
(3,068,723
)
Net Cash Used in Investing Activities
(10,089,489
)
(882,111
)
Net Cash Provided By Financing Activities
21,943,461
3,095,695
As
of December 31, 2022, the Group had cash and cash equivalents of $5.7 million maintained at various financial institutions. We have funded
our operations primarily through cash flows from operations, and have raised capital for the purpose of business acquisitions and development
of the technology platform.
Year
Ended December 31, 2022 Compared to Year Ended December 31, 2021
Operating
Activities:
Operating activities used $8.2 million of cash in
2022. The cash flow from operating activities primarily came from $55.3 million of net loss after tax, adjusted for $43.3 million of non-cash
items, and an increase in working capital of $3.7 million.
Operating
activities used $3.1 million of cash in 2021.
Investing
Activities
Our
main capital investing activities have consisted of the acquisition of existing businesses and development cost of our technology education
platform. We estimate that our ongoing capital requirements will be dictated by market opportunities for acquisition in the education
and hospitality sectors, and the rate of development of the Edtech platform. Net cash used in investing activities was $10.1 million
in 2022 compared to $0.9 million in 2021.
The
major reason for the increase in 2022 was due to cash consideration of $8.8 million paid for five acquisitions and $0.7 million of costs
for technology platform development.
Financing
Activities:
Net
cash provided by financing activities was $21.9 million in 2022 compared to $3.1 million in 2021.
Between
January 1, 2022 and December 31, 2022, the Company raised $17.3 million net cash from IPO, $4.2 million from convertible note
issuance and $2.7 million from equity issuance for GeniusU and Genius Group. In 2021, the Company raised funds by way of $3.1
million equity issuances for GeniusU and $1.0 million for sale of future shares for Entrepreneur Resorts.
Indebtedness
Convertible
Debt
During
the year ended 2019, Entrepreneur Resorts issued 36-month convertible loans in the principal amount of $2,256,178 which bear interest
at rates between 10% to 12% per annum, payable monthly, quarterly, annually or at maturity depending upon the convertible note (the "2019
Convertible Notes).
During
the year ended December 31, 2020, Genius Group Ltd issued 36 month convertible loans in the principal amount of $1,819,145 which bear
interest at rates between 10% to 12% per annum, payable quarterly, annually or at maturity depending upon the convertible note (the "2019
Convertible Notes"). The convertible notes are convertible at the end of the term at the market price.
109
During
the year ended 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal amount
of $18,130,000 in face amount of a senior secured convertible note purchased for $17,000,000 by the selling shareholder or its affiliates
or assigns in a transaction that closed on August 26, 2022, which is convertible into our ordinary shares at an initial fixed price of
$5.17, subject to adjustment for stock dividends, stock splits, anti-dilution and other customary adjustment events. The ordinary shares
issuable upon conversion of the convertible note are being registered and will be sold pursuant to this prospectus by the selling shareholder.
In addition, subject to the satisfaction of equity conditions, we may, at our election, make monthly principal amortization payments
in our ordinary shares. If we elect to make amortization payments in ordinary shares, such ordinary shares will be valued at the lowest
of (x) the fixed conversion price, (y) 90% of the volume weighted average price of our ordinary shares on the trading day preceding the
amortization payment date and (z) 90% of the average of the three lowest volume weighted average prices for our ordinary shares during
the 20 trading days preceding the amortization payment date.
During
the fiscal year ended December 31, 2021, the Company and holders of 2019 Convertible Notes in the aggregate principal amount of $46,884
and $228 of accrued interest were converted into 13,487 Entrepreneur Resorts Ltd ordinary shares and 1,003 GeniusU Ltd ordinary shares
pursuant to conversion offers extended by Genius Group Ltd. and GeniusU Ltd at exercise prices equal to the fair value of Entrepreneur
Resorts Ltd and GeniusU Ltd ordinary share at the time of conversion. The Company recorded the conversions by reclassifying the carrying
value of the 2019 Convertible Notes to equity.
During
the year ended December 31, 2022, the Company and holder of 2019 Convertible Notes in the aggregate amount of $503,311 was repaid
and $4,454 along with the accrued interest of $18 were converted to into 743 Genius Group shares pursuant to conversion offer extended
by Genius Group Ltd.
During
the fiscal year ended December 31, 2021, the Company and holders of 2020 Convertible Notes in the aggregate principal amount of $161,500
and $6,170 of accrued interest were converted into 13,306 GeniusU Ltd ordinary shares pursuant to conversion offers extended by Genius
Group Ltd and GeniusU Ltd at exercise prices equal to the fair value of a GeniusU Ltd ordinary share at the time of conversion. The Company
recorded the conversions by reclassifying the carrying value of the 2020 Convertible Notes to equity.
During
the fiscal year ended December 31, 2022, the Company and holder of 2020 Convertible Notes in the agreement amount of $6,000 was
repaid and $221,000 along with the accrued interest of $3,764 were converted into 37,463 Genius Group shares pursuant to conversion offer
extended by Genius Group Ltd.
During
the fiscal year ended December 31, 2022, the Company and holder of 2022 Convertible Note converted aggregate amount of $707,306
including the accrued interest of $235,146 into the equity of Genius Group based on the share price calculated as per the agreement.
The Company issued 1,515,891 Genius Group Shares to fulfill the conversion request.
110
Other
credit facilities
In
September of 2019, the Company obtained lines of credit in the aggregate amount of S$400,000 (approximately $296,912 at the 2019 exchange
rate) for working capital and business expansions requirements in Wealth Dynamics Pte Ltd, which the Company drew down on in full. Loans
in the amount of S$100,000 (approximately $74,228 at the 2019 exchange rate) shall be repaid over 36 monthly installments including both
principal and the respective accrued interest. Interest on such principal shall bear at a rate of 8% per annum plus a margin of 0.88%,
subject to adjustment. The Company has the option to prepay the loan before its maturity date, subject to a fee of 6.88% if paid within
twelve months from the drawdown date. Loans in the amount of S$300,000 (approximately $222,684 at the 2019 exchange rate) shall be repaid
over 60 monthly installments including both principal and the respective accrued interest. Interest on such principal shall bear at a
rate of 6.25% per annum, subject to adjustment. The loans are secured by personal guarantees of the Director. During the year ended December
31, 2022, the Company repaid an aggregate of S$98,589, approximately $72,492 at the 2022 exchange rate (2021 — S$91,063 approximately
$67,220 at the 2021 exchange rate) of principal plus the respective accrued interest.
Education
Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The outstanding principal as at December 31,
2022 is as follows -
Loan Type
Start Date
Loan Amount
Tenure
Interest Rate
Outstanding As of December 31, 2022
IRD Loan
2020
$
20,063
60 Months
3.25
%
$
16,900
Juke NWN765
2021
$
19,679
36 Months
1.30
%
$
12,254
Qashqai NWN767
2021
$
22,258
36 Months
1.20
%
$
13,886
Qashqai NWN766
2022
$
22,258
36 Months
1.20
%
$
14,475
Mastermind
Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The outstanding
principal amount as of December 31, 2022 is as follows -
Loan Type
Start Date
Loan Amount
Tenure
Interest Rate
Outstanding As of December 31, 2022
Lloyds CBIL (MPL)
2020
$
239,540
60 Months
2.8
%
$
167,678
Funding Circle Loan (MPL)
2022
$
380,804
48 Months
5.03
%
$
305,787
The Funding Circle (PIN)
2022
$
116,054
48 Months
5.03
%
$
93,193
Lloyds Bounceback Loan (PIN)
2022
$
51,378
72 months
2.5
%
$
41,335
111
Contractual
Obligations and Commitments
Our
principal commitments consist of obligations under operating leases. The following table sets forth the principal commitments as of December
31, 2022:
Within one year
$
1,664,966
Two to five years
6,280,716
Thereafter
17,871,937
25,817,619
Less: finance charges component
(12,832,744
)
$
12,984,875
The
material terms of these agreements are as follows:
Tau
Game Lodge Pty Ltd (lodge) — The lease period is December 1, 1994 to November 30, 2034. The Company is currently in negotiations
to extend the term of the lease to November 30, 2047. The rental is made up of a fixed amount which increases by 10% on each anniversary
during the term of the lease and a variable amount being 8% of turnover. As of December 31, 2022, the lease commitment for the fixed
amount for the following one year totaled $74,311.
Tau
Game Lodge Pty Ltd (office) — The lease period is February 1, 2020 to January 31, 2023. The basic rental amount increases by 8%
on each anniversary during the term of the lease. In January 2023, the new lease agreement was entered for the period February 1, 2023
to January 31, 2024. As of December 31, 2022, the lease commitment for the following one year totaled $16,767.
Matla
Game Lodge Pty Ltd — The lease period is February 1, 1997 to January 31, 2096. The rental is made up of a fixed amount which increases
by 6% on each anniversary during the term of the lease. As of December 31, 2022, the lease commitment for the following one year totaled
$10,131.
Genius
Central Singapore Pte Ltd — The lease period is October 1, 2019 to September 30, 2022 which was renewed for additional 3 years
to September 30, 2025. The operating lease amount is made up of fixed rent which does not change for the term of the lease and percentage
rent which is calculated as 15% of turnover. As of December 31, 2022, the fixed rent commitment for the following one year totaled $399,064.
University
of Antelope Valley Inc leases its campus. The lease period is July 2022 to July 2034. The rental is made up of a fixed amount which increases
by 3% on each anniversary during the term of the lease. As of December 31, 2022, the lease commitment for the following one year totaled
$1.2 million.
C.
Research and Development, Patents and licenses, etc.
For
a discussion of our intellectual property, see the sections of this Annual Report titled "
Intellectual Property
".
D.
Trend Information
Other
than as disclosed elsewhere in this Annual Report, we are not aware of any trends, uncertainties, demands, commitments or events that
are reasonably likely to have a material adverse effect on our net revenues, income from continuing operations, profitability, liquidity
or capital resources, or that would cause the disclosed financial information to be not necessarily indicative of future operating results
or financial conditions. For more information, see the sections of this Annual Report titled "
Business Overview,
"
"
Operating Results,
" and "
Liquidity and Capital Resources.
"
112
E.
Critical Accounting Estimates
Our
consolidated financial statements are prepared in accordance with IFRS as issued by the IASB. The preparation of our consolidated financial
statements and related disclosures requires us to make estimates and judgments that affect the reported amounts of assets, liabilities,
costs and expenses, and the disclosure of contingent assets and liabilities in our consolidated financial statements. We base our estimates
on historical experience, known trends and events and various other factors that we believe are reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. We evaluate our estimates and assumptions on an ongoing basis. Our actual results may differ from these estimates
under different assumptions or conditions.
While
our significant accounting policies are described in more detail in our consolidated financial statements appearing elsewhere in this
Annual Report, we believe that the following accounting policies are those most critical to the judgments and estimates used in the preparation
of our consolidated financial statements.
Revenue
Recognition
Revenue
is recognized when the product is delivered or the service is completed without further obligation, or upon sale in the case of products
or services for which the terms and conditions do not allow for cancellation or refund. Revenue in advance is recognized as a liability
until the service obligation is fulfilled.
Share-based
Compensation
For
service-based awards, compensation expense is measured at the grant date based on the fair value of the award and is recognized on a
straight-line basis over the requisite service period, which is typically the vesting period.
Business
Combinations
We
record our acquisitions under the acquisition method of accounting in accordance with IFRS 3, except for common control business combinations
as discussed below. This accounting policy is applied consistently to similar transactions. Under this method most of the assets acquired
and liabilities assumed are initially recorded at their respective fair values and any excess purchase price is reflected as goodwill.
We utilize management estimates and, in some instances, independent third-party valuation firms to assist in determining the fair values
of assets acquired, liabilities assumed and contingent consideration, if any. Such estimates and valuations require us to make significant
assumptions, including projections of future events and operating performance.
The
fair value of customer relationships, trade names/trademarks, patents, licenses, brand, human capital, and intellectual property acquired
in our business combinations are determined using various valuation methods, based on a number of significant assumptions.
Common
control business combinations are outside the scope of IFRS 3. The Company has elected to account for common control business combinations
using the book value method. This accounting policy is applied consistently to similar transactions. The Company's policy is to
present the financial statements for the pre-acquisition period to include the results of the common control entity, as if the acquisition
had taken place at the beginning of the earliest period presented. On the acquisition date, the Company records any difference between
the acquisition consideration and the book value of net assets at that date against reserves under Stockholders' Equity.
Lease
Agreements
Pursuant
to IAS 17, a lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership.
A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership.
For leases classified as finance leases, the property is capitalized as leasehold property and is depreciated over the lease term. Leased
assets are depreciated over the shorter of their expected useful lives and the lease term.
Finance
leases are recognized as assets and liabilities in the consolidated statement of financial position at amounts equal to the fair value
of the leased property or, if lower, the present value of the minimum lease payments. The corresponding liability to the lessor is included
in the consolidated balance sheet as a finance lease obligation.
113
The
discount rate used in calculating the present value of the minimum lease payments is the interest rate implicit in the lease. The lease
payments are apportioned between the finance charge and reduction of the outstanding liability. The finance charge is allocated to each
period during the lease term so as to produce a constant periodic rate on the remaining balance of the liability.
Operating
lease payments are recognized as an expense on a straight-line basis over the lease term. The difference between the amounts recognized
as an expense and the contractual payments are recognized as an operating lease asset. This liability is not discounted. Any contingent
rents are expensed in the period they are incurred.
The
Company adopted IFRS 16, Leases ("IFRS 16') on January 1, 2019.
Goodwill
Impairment
We
are required to assess our goodwill for impairment at least annually for each cash generating unit ("CGU") that carries goodwill.
Goodwill is allocated to CGUs and tested for impairment at least annually, either as part of testing of individual CGUs if there is an
indicator of impairment, or as a separate test if there is no indicator of impairment. Or of impairment. For impairment testing purposes,
goodwill is allocated to those CGUs or groups of CGUs that are expected to benefit from the synergies of the combination even if no other
assets or liabilities of the acquiree are assigned to that CGU. The allocation is determined as at the date of acquisition. Goodwill
is impaired if the carrying amount of the CGUs to which it is allocated exceeds the recoverable amount (the higher of fair value and
value in use) of the CGUs. An impairment loss is the excess of an asset's CGU carrying amount over its recoverable amount.
Emerging
Growth Company and Foreign Private Issuer Status
We
qualify as an "emerging growth company" as defined in the JOBS Act. An emerging growth company may take advantage of specified
reduced reporting and other burdens that are otherwise applicable generally to public companies. These provisions include:
1.
to
    the extent that we no longer qualify as a foreign private issuer, (i) reduced disclosure obligations regarding executive compensation
    in our periodic reports and proxy statements and (ii) exemptions from the requirement to hold a non-binding advisory vote on executive
    compensation, including golden parachute compensation;
2.
an
    exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting pursuant to
    the Sarbanes-Oxley Act of 2002; and
3.
an
    exemption from compliance with the requirement that the PCAOB has adopted regarding a supplement to the auditor's report providing
    additional information about the audit and the financial statements.
We
may take advantage of these exemptions for up to five years or such earlier time that we are no longer an emerging growth company. We
would cease to be an emerging growth company upon the earliest to occur of: (i) the last day of the fiscal year in which we have total
annual gross revenues of $1.07 billion or more; (ii) the date on which we have issued more than $1.0 billion in nonconvertible debt during
the previous three years; (iii) the date on which we are deemed to be a large accelerated filer under the rules of the SEC; or (iv) the
last day of the fiscal year following the fifth anniversary of the closing of the Merger. We may choose to take advantage of some but
not all of these exemptions.
In
addition, under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards until such time as those
standards apply to private companies. The Company has elected not to opt out of such extended transition period, which means that when
a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth
company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Further, even after we
no longer qualify as an emerging growth company, we may qualify as a "smaller reporting company," which would allow us to
take advantage of many of the same exemptions from disclosure requirements, including reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements.
114
We
are also a "foreign private issuer." Even after we no longer qualify as an emerging growth company, as long as we qualify
as a foreign private issuer under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable
to U.S. domestic public companies, including:
●
the
    sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations with respect to a security registered
    under the Exchange Act;
●
the
    requirement to comply with Regulation FD, which requires selective disclosure of material information;
●
the
    sections of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and liability
    for insiders who profit from trades made in a short period of time; and
●
the
    rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and
    other specified information, or current reports on Form 8-K upon the occurrence of specified significant events.
We
may take advantage of these exemptions until such time as we are no longer a foreign private issuer. We would cease to be a foreign private
issuer at such time as more than 50% of our outstanding voting securities are held by U.S. residents and any of the following three circumstances
applies: (i) the majority of our executive officers or directors are U.S. citizens or residents; (ii) more than 50% of our assets are
located in the United States; or (iii) our business is administered principally in the United States.
Off-balance
sheet arrangements
As
of December 31, 2022, we do not have transactions with unconsolidated entities, such as entities often referred to as structured finance
or special purpose entities, whereby we have financial guarantees, subordinated retained interests, derivative instruments, or other
contingent arrangements that expose us to material continuing risks, contingent liabilities, or any other obligation under a variable
interest in an unconsolidated entity that provides financing, liquidity, market risk, or credit risk support to us.
Item
6. Directors, Senior Management and Employees
A.
Directors and senior management.
The
following table sets forth information regarding our executive officers and directors as of the date of this Annual Report.
Name
Age
Position
    with our Company
Roger
    James Hamilton
54
Chief
    Executive Officer and Chairman
Michelle
    Clarke
50
Chief
    Marketing Officer
Suraj
    Naik
38
Chief
    Technology Officer and Director
Erez
    Simha
59
Chief
    Financial Officer
Sandra
    Morrell
55
Director
Patrick
    Grove
48
Director
Nic
    Lim
47
Director
Anna
    Gong
48
Director
Richard
    J. Berman
80
Director
Timothy
    Murphy
61
Director
Roger
James Hamilton
has been our Chief Executive Officer and Chairman since 2015. He is also the founder and Chief Executive Officer of
Entrepreneur Resorts Limited, a hospitality company and a subsidiary of Genius Group Ltd, since 2017, where he is responsible for the
growth of the company's resorts and beach clubs and led the company through its initial public offering in 2017. Mr. Hamilton is
also founder and Chairman of Entrepreneurs Institute and GeniusU Ltd, which are both companies within Genius Group. Mr. Hamilton is a
New York Times bestselling author and entrepreneur who mentors other entrepreneurs to grow their enterprises and find their flow. He
holds a B.A. from the University of Cambridge.
115
Michelle
Clarke
has been our Chief Marketing Officer since 2017 and a Director since 2020. Ms. Clarke founded Talent Dynamics in Partnership
with Roger James Hamilton in 2009. Talent Dynamics is an extension of Wealth Dynamics for large teams and corporates. It grew into over
20 countries with over 500 mentors, before integrating into Entrepreneurs Institute in 2015. Michelle is now the Chief Marketing Officer
for GeniusU Ltd, where she mainly works with the top-level partners, to grow their businesses and communities on GeniusU.
Suraj
Naik
has been our Chief Technology Officer since 2017 and Director since 2020. Prior to joining the Group, Mr. Naik created an online
event ticketing and registration platform, which he later sold to Idea Wave Labs. After successfully launching Wealth Dynamics and Millionaire
Master Plan, where he was responsible for executing a 4-month campaign to ensure placement of
The Millionaire Master Plan
book
on the bestsellers lists of the
New York Times
,
USA Today
, Amazon and Barnes & Noble, Suraj led the launch of GeniusU.
Mr. Naik holds an MBA from James Cook University and a bachelor's degree from Maharaja Sayajirao University.
Erez
Simha
has been our Chief Financial Officer since July 2022 to accelerate Genius Group's global growth. Erez brings over 20
years of experience and a proven track record of scaling high-tech disruptive companies in multiple industries, including food-tech,
blockchain, 3D printing, and digital assets. He held CFO and COO positions at multiple companies including Stratasys Ltd and Just Inc.
Throughout his career, Erez brought these companies into the mainstream and has helped them globally by implementing infrastructure and
building global teams and networks. He also brings with him intensive M&A and post-merger integration experience, which will serve
Genius Group in its current strategy of growth through inorganic expansion.
Sandra
Morrell
was our Chief Operating Officer and Director from 2015. In 2020 she retired from the Chief Operating Officer position and
became a non-executive Director. Ms. Morrell has over 30 years' experience in management and general management positions in banking,
commerce, training and hospitality. Previously, from 2017 to 2020, Ms. Morrell was Chief Operating Officer of Entrepreneur Resorts Limited,
a hospitality company and a subsidiary of Genius Group, overseeing a multi-million-dollar portfolio of companies and a global leadership
team with offices in Australia, Indonesia, Singapore, Japan, Thailand, South Africa and England.
Patrick
Grove
has served as a Director since 2020. He is the Chief Executive Officer and co-founder of Catcha Group, an internet media company,
a role he has held since 2000. He has been listed by Bloomberg Businessweek as one of Asia's Best Young Entrepreneurs, by Business
Week Asia as Top Entrepreneur under 40 and served as a judge of Talent Unleashed alongside Richard Branson and Steve Wozniak. He has
listed four tech companies: Iproperty.com (IPP:ASX), Catcha Media (CHM:MAL), iCARAsia (ICQ:ASX) and iBuy Group (IBY: ASX). iProperty
subsequently sold to a subsidiary of News Corp for A$751m and his latest company iFlix was recently acquired by Tencent. Mr. Grove holds
a bachelor's degree from the University of Sydney.
Nic
Lim
has served as a Director since 2018. Mr. Lim brings 20 years of experience in high-growth technology companies to the Board.
He is the founder of 8capita and Executive Chairman and founder of 8common Limited, a company focused on productivity and performance
enhancing software, which he founded in 2012 and which listed on the Australian Securities Exchange in 2014 (8CO:ASX). In 1999, he co-founded
Catcha.com, an internet media company, which has evolved and led to three initial public offerings of technology companies: Iproperty.com
(IPP:ASX), Catcha Media (CHM:MAL), iCARAsia (ICQ:ASX). Mr. Lim holds bachelor's degrees from the University of Technology Sydney
and the University of Western Sydney.
Anna
Gong
is the Founder and CEO of Perx Technologies, the world's first intelligent, autonomous loyalty and customer engagement
platform. With more than 20 years of experience in global enterprise software, Ms. Gong has held growth and executive positions in numerous
startups and prominent technology companies. Ms. Gong's expertise and leadership in cloud computing and cutting-edge technologies
has earned her recognition as a LinkedIn CEO Power Profile, winner of Singapore Women Entrepreneur Award and Top 100 Women in Tech in
Singapore. Ms. Gong, a Tedx speaker is a sought-after thought leader and speaker on topics such as AI technology, building and scaling
startups, leadership, and digital transformation. Ms. Gong holds a bachelor's degree from the University of California, Los Angeles.
Richard
J. Berman
joined Genius Group as a Director since January 2022 and also serves as Genius Group's Audit Committee Chair. He
holds a BSc and an MBA degree from the Stern School of Business of NYU and U.S. and foreign law degrees. His business career spans over
35 years in senior management, mergers and acquisitions, and venture capital. He is a director of four public NASDAQ companies –
Cryoport Inc., Comsovereign Holding Corp., BioVie Inc., and Context Therapeutics Inc., and over the last decade he has served on the
board of six companies that have reached over one billion dollars in market cap – Cryoport, Advaxis, EXIDE, Internet Commerce Corp.,
Ontrak (Catasys), and Kapitus. His early career began with Goldman Sachs and thereafter he became the Senior Vice President of the Bankers
Trust Company, where he started the mergers and acquisitions, and leveraged buyout departments.
116
Timothy
Murphy
has served as a Director since September 2022. Tim has 30 years of leadership in the global law enforcement, compliance, intelligence,
and business communities. He currently is the President and CEO of Consortium Networks, a cyber security and networking company, and
serves on the Board of Western Union. He previously was the President of Thomson Reuters Special Services and a Special Agent and Executive
in the FBI where he held a number of operational positions in a variety of field offices nationwide, investigating matters as diverse
as counterterrorism, intelligence, cyber and organized crime. And he eventually became the Deputy Director of the FBI, a position he
held until retiring in 2011.
Family
Relationships
There
are no family relationships between any of the directors. There are no family relationships between any director and any of the senior
management of our Company.
B.
Compensation.
Executive
Compensation
We
are not required to disclose compensation paid to our senior management on an individual basis under the laws of Singapore and we have
not otherwise publicly disclosed this information other than in this document and the associated financial statements.
2022
2021
Salary
Stock Based
Total
Salary
Stock Based
Total
Key Management Compensation
1,184,506
553,987
1,738,493
975,110
43,046
1,018,750
C.
Board practices.
Board
of Directors
Our
board of directors consists of 9 directors, including 3 executive (or otherwise-non-independent) directors and 6 independent directors.
We established an Audit Committee, a Nominating and Corporate Governance Committee and a Compensation Committee upon the effectiveness
of our registration statement on Form F-1, on March 31, 2022. We adopted a charter for each of the three committees. Each of the committees
of our board of directors have the composition and responsibilities described below.
The
Singapore Companies Act requires that we must have at all times at least one director who is ordinarily resident in Singapore. Roger
James Hamilton, Nic Lim, Anna Gong and Patrick Grove are all ordinarily resident in Singapore. Vacation of all six board positions by
these directors shall be deemed to be invalid absent a prior appointment of another director to the Board who is ordinarily resident
in Singapore.
117
Audit
Committee
Anna
Gong, Nic Lim, Tim Murphy and Richard J. Berman serve as members of our Audit Committee. Richard J. Berman serves as the chairman of
the Audit Committee. Each of our Audit Committee members satisfy the "independence" requirements of the NYSE American and
Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Richard J.
Berman possesses accounting or related financial management experience that qualifies him as an "audit committee financial expert"
as defined by the rules and regulations of the SEC. Our Audit Committee oversees our accounting and financial reporting processes and
the audits of our financial statements. Our Audit Committee performs several functions, including:
➢
evaluating
    the independence and performance of, and assesses the qualifications of, our independent auditor, and engages such independent auditor;
➢
approving
    the plan and fees for the annual audit, quarterly reviews, tax and other audit-related services, and approves in advance any non-audit
    service to be provided by the independent auditor;
➢
monitoring
    the independence of the independent auditor and the rotation of partners of the independent auditor on our engagement team as required
    by law;
➢
reviewing
    the financial statements to be included in our Annual Report on Form 20-F and Current Reports on Form 6-K and reviews with management
    and the independent auditors the results of the annual audit and reviews of our quarterly financial statements;
➢
overseeing
    all aspects of our systems of internal accounting control and corporate governance functions on behalf of the Board;
➢
reviewing
    and approving in advance any proposed related-party transactions and report to the full Board on any approved transactions; and
➢
providing
    oversight assistance in connection with legal, ethical and risk management compliance programs established by management and our
    board of directors, including Sarbanes-Oxley Act implementation, and makes recommendations to our board of directors regarding corporate
    governance issues and policy decisions.
Compensation
Committee
Nic
Lim, Patrick Grove, Tim Murphy and Anna Gong serve as members of our Compensation Committee. Anna Gong serves as the chairman of the
Compensation Committee. All of our Compensation Committee members satisfy the "independence" requirements of the NYSE American
and Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange Act. Our Compensation Committee is
responsible for overseeing and making recommendations to our board of directors regarding the salaries and other compensation of our
executive officers and general employees and providing assistance and recommendations with respect to our compensation policies and practices.
Nominating
and Corporate Governance Committee
Patrick
Grove, Anna Gong and Nic Lim serve as members of our Nominating and Corporate Governance Committee. Nic Lim serves as the chairman of
the Nominating and Corporate Governance Committee. All of our Nominating and Corporate Governance Committee members satisfy the "independence"
requirements of the NYSE American and Upstream listing rules and meet the independence standards under Rule 10A-3 under the Exchange
Act. Our Nominating and Corporate Governance Committee is responsible for identifying and proposing new potential director nominees to
the board of directors for consideration and reviewing our corporate governance policies.
Duties
of Directors
Under
Singapore law, our directors have a duty to act honestly, and in good faith in the best interests of our Company. Our directors are also
required to use reasonable diligence in the discharge of the duties of their office. Our Company has the right to seek damages if a duty
owed by our directors is breached.
The
business of our Company shall be managed by, or under the direction or supervision of, our directors. Our directors may exercise all
the powers of our Company except any power that the Singapore Companies Act or our constitution requires our Company to exercise in general
meeting. The functions and powers of our board of directors include, among others:
➢
convening
    shareholders' annual general meetings and reporting its work to shareholders at such meetings;
➢
recommending
    dividends and distributions;
➢
appointing
    officers and determining the term of office of officers;
➢
exercising
    the borrowing powers of our Company and mortgaging the property of our Company; and
➢
approving
    the transfer of shares of our Company, including the registering of such shares in our register of members.
118
Terms
of Directors and Officers
Our
directors are not subject to a set term of office.
Our
constitution provides that at each annual general meeting, one-third of the directors for the time being, or if the number is not three
or a multiple of three, then the number nearest one-third, shall retire from office by rotation and will be eligible for re-election
at that annual general meeting (the directors so to retire being those longest in office since their last election). The office of a
director will be vacated if, among other things, the director becomes prohibited by law from acting as a director, resigns in writing,
has a receiving order made against him or suspends payments or compounds with his/her creditors generally or is found lunatic or becomes
of unsound mind.
Our
officers, such as our Chief Executive Officer and our Chief Financial Officer, are appointed by and serve at the discretion of our board
of directors.
D.
Employees
We
currently have 573 staff members, with 18 in Genius Group Ltd, 59 in GeniusU Ltd, 214 within Entrepreneur Resorts Ltd., 165 in University
of Antelope Valley, 26 in Property Investors Network, 35 in E-Squared, 20 in Education Angels and 36 in Revealed Films. We operate as
one global team with regional leadership, and we established a remote working culture prior to the COVID-19 crisis, which put us in a
strong position to manage through the crisis without any major change to our management process.
By
illustration, our main leadership team works from Singapore, Australia, New Zealand, Indonesia, South Africa, England, Portugal, Poland
and the United States. Our accounts team operates from Australia and our development team works from India, Ukraine and Poland. Our campus
teams are based in Indonesia, Singapore and South Africa.
Share
Incentive Plan
Our
Genius Group share incentive plan (the "Incentive Plan") was introduced in 2018 to the then-existing employees of Genius
Group Ltd. It was subsequently extended to all companies within the Pre-IPO Group. We have further adopted Share Incentive Plan 2023
and our intention is to extend it to the Acquisitions and to continue to extend the plan to new employees and new acquisitions.
The
purpose of our Incentive Plan is to provide eligible persons with an opportunity to share in the growth in value of our shares and to
encourage them to improve the performance of Genius Group's return to shareholders. It is also intended that the Incentive Plan
will enable Genius Group to retain and attract skilled and experienced employees.
In
summary, the rules of the Incentive Plan are:
➢
An
    option pool is determined by the Board of Directors at the beginning of each calendar year. The size of the pool is approximately
    equivalent to two months payroll cost and may change from time to time.
➢
Options
    are granted from the pool to eligible employees each year. Eligible employees are those that are in full-time employment and have
    been employed by the Company for at least three months prior to December 31 each year.
➢
At
    the grant date, employees are issued with a letter stating the number of options earned and the exercise price. These are calculated
    based on the total options pool available, and divided pro rata to their length of employment in the year and proportional to their
    salary as a percentage of total wages.
➢
The
    exercise price is at the share price at the time of the grant date.
➢
The
    vesting date is one year after the grant date. In order to vest, an employee must still be in employment with Genius Group as of
    the vesting date.
➢
On
    the vesting date, eligible employees may exercise their option at the pre-fixed exercise price.
➢
Should
    employees choose to exercise their option, shares are issued as an interest-free loan repayable at the time of sale of the shares.
➢
Should
    employees not to exercise, or if they leave employment prior to the vesting date, the options lapse.
➢
Employees
    are required to complete the KYC (Know Your Customer) process before receiving the share certificates.
119
Below
are details of the options and restricted stock units issued to date:
No of Shares
No of
Price
Total
after Share
Year
Companies
Shares
Per Share
Consideration
Split
2018
Genius Group Ltd
20,317
$
15.45
$
313,898
121,902
2019
Genius Group Ltd, GeniusU Ltd, Entrepreneur Institute Ltd, Entrepreneur Resorts Ltd
42,913
$
21.34
$
915,763
257,487
2020
Genius Group Ltd, GeniusU Ltd, Entrepreneur Institute Ltd, Entrepreneur Resorts Ltd
20,075
$
34.87
$
700,015
120,450
2021
Genius Group Ltd, GeniusU Ltd, Entrepreneur Institute Ltd, Entrepreneur Resorts Ltd
22,369
$
36.00
$
805,284
134,214
2022
Genius Group Ltd, University of Antelope Valley
n.m.
(1)
$
4,962,499
2,071,852
TOTAL
$
7,697,459
2,705,905
(1)
All
                                            options and restricted stock units have been issued at different price per shares
Employment
Agreements
We
have entered into employment agreements with each of our executive officers for a specified time period providing that the agreements
are terminable for cause at any time. The terms of these agreements are substantially similar to each other. A senior executive officer
may terminate his or her employment at any time upon 30 days' prior written notice. We may terminate the executive officer's
employment for cause, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction
or plea of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to our detriment, or misconduct or
a failure to perform agreed duties.
Each
executive officer has agreed to hold in strict confidence and not to use, except for the benefit of our Company, any proprietary information,
technical data, trade secrets and know-how of our Company or the confidential or proprietary information of any third party, including
our subsidiaries and our clients, received by our Company. Each of these executive officers has also agreed to be bound by noncompetition
and non-solicitation restrictions during the term of his or her employment and typically for two years following the last date of employment.
E.
Share Ownership
Refer
to Item 7.A. for details of share ownership by our officers and directors.
Item
7. Major Shareholders and Related Party Transactions
A.
Share Ownership
The
following table sets forth information regarding the beneficial ownership of our ordinary shares as of the date of this Annual Report
by (i) our officers and directors, (ii) our officers and directors as a group, and (iii) 5% or greater beneficial owners of ordinary
shares.
120
We
have determined beneficial ownership in accordance with the rules of the NYSE American and Upstream. These rules generally attribute
beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities.
The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within
60 days. Unless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares
shown as beneficially owned by him, subject to applicable community property laws.
After Offering
Amount of
Percentage of
Beneficial
Outstanding
Name and Address of Beneficial Owner
Ownership
(1)
Shares
(2)
Executive Officers and Directors:
Roger James Hamilton
(3)
9,697,854
35.00
%
Sandra Morrell
(4)
987,583
3.56
%
Michelle Clarke
483,300
1.74
%
Suraj Naik
255,918
0.92
%
Patrick Grove
6,000
**%
Nic Lim
7,967
**%
Anna Gong
6,000
**%
Richard J. Berman
6,667
**%
Tim Murphy
-
**%
Erez Simha
-
**%
All directors and executive officers as a group (9 individuals)
11,451,289
41.33
%
**
Less than 1%.
(1)
The
                                            Amount of Beneficial Ownership includes allocated shares only and does not include share
                                            options that are exercisable within 60 days, since there are no such share options.
(2)
The
                                            Percentage of Outstanding Shares is based on the total outstanding shares of 27,705,227 as
                                            of December 31, 2022, which includes all issued and outstanding shares.
(3)
Out
                                            of the 9,304,812 beneficially owned ordinary shares, 393,042 shares will be transferred back
                                            to the Company and cancelled in the future as per previous agreements between the Company
                                            and Mr. Hamilton
(4)
Out
                                            of the 761,010 beneficially owned ordinary shares, 226,572 shares will be transferred back
                                            to the Company and cancelled in the future as per previous agreements between the Company
                                            and Ms. Morrell
B.
Related party transactions
Before
the completion of the IPO, we adopted an audit committee charter, which requires the committee to review all related-party transactions
on an ongoing basis and that all such transactions be approved by the committee.
Set
forth below are the related party transactions of our Company that occurred during the last full fiscal year up to the date of this Annual
Report.
Related
Party Transactions in 2022
World
Game Pte Ltd (Roger Hamilton) —
The Pre-IPO Group paid fees to World Game Pte Ltd for the services of Roger Hamilton as CEO
amounting to $621,348 in 2022. The outstanding balance payable as at December 31, 2022 was $78,235.
Employee
share Option Plan — loan —
In April 2022, the company granted 134,214 share options to the employees for the year 2021
under Employee share option plan. None of the options are exercised and hence the outstanding balance under subscription receivables
remains unchanged.
121
Entrepreneurs
Institute Australia Pty Ltd —
The Pre-IPO Group pays fees to Entrepreneurs Institute Australia Pty Ltd ("EIA"),
an Australian company controlled and ultimately owned by Roger Hamilton and Sandra Morrell, directors of Genius Group Ltd. The total
in 2022 was $325,243. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support to
the Group with its own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a
material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement. The outstanding
balance payable as at December 31, 2022 was $35,305.
GU
Web Services India Pvt Ltd —
The Pre-IPO Group pays fees to GeniusU Web Services India Pvt Ltd ("GU India"), an
Indian company controlled and ultimately owned by Suraj Naik, an employee of the Pre- IPO Group, and a family member of Suraj Naik. The
total in 2021 was $209,322. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support
to the Group with its own business requirements as well as catering to external clients. GU India on-charges its costs and does not record
a material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement.
Roger
Hamilton —
The loan payable to Roger Hamilton for the acquisition of Entrepreneurs Institute is non-interest bearing, with
payments of $348,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount
of $348,000 was repaid during 2022. The total outstanding balance on December 31, 2022 was $nil.
Revealed
Films
– The loan payable to the prior owner of Revealed Films (Jeff Hays and Patrick Gentempo) for the acquisition of Revealed
Films in Oct 2022 is non-interest bearing with payment of $2,000,000 due on or before March 31, 2023. The total outstanding balance on
December 31, 2022 was $2,000,000.
During December 2022, Revealed Films sold the rights to a movie for $451,101 and purchased the
rights to a movie for $433,964; both transactions were with Jeff Hays Films LLC. Jeff Hayes is the owner of Jeff Hays Films LLC and was
one or the former owners of Revealed Films before its acquisition by the Company.
University of Antelope Valley
–
During July 2022, the Company signed two lease agreements for University of Antelope Valley university buildings with the
former owners of University of Antelope Valley, both with 12-year terms. A right of use asset and a lease liability of $11,149,101 was
booked to the Consolidated Statements of Financial Condition for the leases.
E-Squared
Education
- The loan payable to the prior owner of E-Squared Education (Lilian Niemann) for the acquisition of E-Squared in May 2022
is non-interest bearing with payment of ZAR 3.6 million (approx. $299,231) payable on or before Nov 30, 2022. The total outstanding balance
on December 31, 2022 was $299,231.
Related
Party Transactions in 2021
World
Game Pte Ltd (Roger Hamilton) —
The Pre-IPO Group paid fees to World Game Pte Ltd for the services of Roger Hamilton as CEO
amounting to $593,068 in 2021. The outstanding balance payable as at December 31, 2021 was $11,767.
Employee
share Option Plan — loan —
In December 2021 some of the employees who had been granted options in December 2020 exercised
those options, and under the terms of the Employee Share Option Plan the exercise price is recorded as an interest free loan to each
employee, repayable on sale of the shares. The total loan amount for December 2021 was $433,800. To the extent that such loans are made
to directors and officers, then before the Company's IPO the Company will redeem a sufficient number of the allotted shares for
each employee as will satisfy the loan obligations in full.
Entrepreneurs
Institute Australia Pty Ltd —
The Pre-IPO Group pays fees to Entrepreneurs Institute Australia Pty Ltd ("EIA"),
an Australian company controlled and ultimately owned by Roger Hamilton and Sandra Morrell, directors of Genius Group Ltd. The total
in 2021 was $172,740. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support to
the Group with its own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a
material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement. The outstanding
balance payable as at December 31, 2021 was $33,443.
GU
Web Services India Pvt Ltd —
The Pre-IPO Group pays fees to GeniusU Web Services India Pvt Ltd ("GU India"), an
Indian company controlled and ultimately owned by Suraj Naik, an employee of the Pre- IPO Group, and a family member of Suraj Naik. The
total in 2021 was $167,735. The sole purpose of the entity is to engage local team and physical resources to provide day-to-day support
to the Group with its own business requirements as well as catering to external clients. GU India on-charges its costs and does not record
a material profit or loss; therefore, the related party shareholders do not receive any financial benefit from this arrangement.
Roger
Hamilton —
The loan payable to Roger Hamilton for the acquisition of Entrepreneurs Institute is non-interest bearing, with
payments of $348,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount
of $348,000 was not repaid during 2021. The total outstanding balance on December 31, 2021 was $348,000.
122
Sandra
Morrell —
The loan payable to Sandra Morrell for the acquisition of Entrepreneurs Institute is non- interest bearing, with
payments of $32,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount of
$32,000 was repaid during 2021. The total outstanding balance on December 31, 2021 was $nil.
Michelle
Clarke —
The loan payable to Michelle Clarke for the acquisition of Entrepreneurs Institute is non- interest bearing, with
payments of $20,000 payable on each of the first and second anniversaries of the acquisition of Entrepreneurs Institute. The amount of
$20,000 was repaid during 2021. The total outstanding balance on December 31, 2021 was $nil.
C.
Interest of experts and counsel
Not
Applicable.
Item
8. Financial Information
A.
Consolidated Statements and Other Financial Information
See
"Item 18. Financial Statements."
Legal
Proceedings
We
are currently not a party to any legal, arbitration or administrative proceedings that, in the opinion of our management, are likely
to have a material and adverse effect on our business, financial condition or results of operations, and we are not aware of any threat
of any of the above-mentioned proceedings. However, we may from time to time become a party to various legal, arbitration or administrative
proceedings arising.
Dividend
Policy
We
may, by ordinary resolution, declare dividends at a general meeting of shareholders, but we are restricted from paying dividends in excess
of the amount recommended by our board of directors. Pursuant to Singapore law and our constitution, no dividend may be paid except out
of our profits. To date, we have not declared any cash dividends on our ordinary shares and have no current plans to pay cash dividends
in the foreseeable future.
B.
Significant Changes
We
have had a number of significant changes since the date of our audited consolidated financial statements included in this Annual Report.
These include:
●
Genius
    Group consummated its initial public offering on the NYSE American (ticker: GNS) as of April 14, 2022 with the issuance of 3,272,727
    ordinary shares at an IPO price of $6 per share.
●
Genius
    group dual listed on Upstream on April 6, 2023
●
Genius
    Group also completed the follow on round of convertible loan in the principal
amount of $18,130,000 in face amount of a senior secured convertible note purchased for $17,000,000. Genius Group issued 11,562,825 ordinary
shares prior to raising the dispute on the contract. Both the parties agreed to limit the further issuance of ordinary shares to 13,000,000
shares of which 8,994,841 were issued as of April 26, 2023.
●
Genius
    Group closed five Acquisitions during 2022 namely Property Investors Network and Education Angels on April 30, 2022, E-Squared Education
    on May 31, 2022, University of Antelope Valley on July 07, 2022 and Revealed Films on October 04, 2022.
123
Item
9. The Offer and Listing.
A.
Offer and listing details.
Not
applicable.
B.
Plan of distribution.
Not
applicable.
C.
Markets.
Our
ordinary shares are listed and traded on NYSE American and Upstream.
D.
Selling Shareholders.
Not
applicable.
E.
Dilution.
Not
applicable.
F.
Expenses of the Issue.
Not
applicable.
Item
10. Additional Information.
A.
Share Capital.
Not
applicable.
B.
Memorandum and articles of association.
We
are registered under the Companies Act in the Republic of Singapore under number 201541844C. A copy of our Memorandum and Articles of
Association is attached as Exhibit 3.1 to this Annual Report. The information called for by this Item is incorporated by reference from
the sections titled "Description of Share Capital" and "Comparison of Shareholder Rights" from our final prospectus
filed with the SEC on April 12, 2022.
C.
Material Contracts.
Other
than contracts entered into the ordinary course of business, during the two preceding fiscal years the Company has entered into the following
material contracts (which are included as exhibits to this Annual Report):
University
of Antelope Valley
. UAV is a California-based, WASC accredited, U.S. university issuing degrees on campus and on-line.
➢
The
    Share Purchase Agreement was signed on March 22, 2021 between Genius Group Ltd and the owners of University of Antelope Valley Inc.
    and University of Antelope Valley LLC, Sandra Johnson and Marco Johnson, for the purchase of 100% of the shares in University of
    Antelope Valley Inc.
➢
The
    purchase price in accordance with the original Stock Purchase Agreement is $24 million in cash and $6 million in shares in Genius
    Group, with the share of Genius Group Ltd paid at the pre- split price of US$34.87 per share. The actual number of our ordinary shares
    issuable to the University of Antelope Valley will be based on the actual price per share in the IPO. In an amendment signed on March
    24, 2022 the consideration was amended to $6.5 million in cash, $6 million in shares in Genius Group and $17.5 million in a note
    payable.
124
➢
At
    the time of signing, Genius Group deposited $500,000 in escrow, to be paid towards the purchase price on closing. This was released
    to the Johnsons in December 2021.
➢
In
    the event that UAV's 2021 revenues exceed UAV's 2020 target revenue of $13 million, Genius Group will pay a Bonus Closing
    Consideration which will be an addition to the $30 million acquisition price based on a percentage increase in the acquisition price
    equal to the percentage increase in 2021 revenues over UAV's 2020 target revenue of $13 million. For example, if 2021's
    revenue were $1.3 million higher than $13 million, representing a 10% increase, Genius Group would pay a Bonus Closing Consideration
    of $3 million, representing a 10% increase on the $30 million acquisition price. Any Bonus Closing Consideration would be paid in
    shares of Genius Group Ltd at the market price.
➢
The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition.
➢
The
    agreement also includes an option for Genius Group to purchase the university properties, which are under the ownership of University
    of Antelope Valley LLC, at market rate for a period of two years from the closing date of this agreement. It also includes a right
    of first refusal in the event another buyer comes forward for the properties during this time.
➢
Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.
➢
The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.
➢
Closing
    is contingent on UAV both receiving consent from the relevant education authority and not receiving any objections to consent from
    any relevant education agency. UAV has notified all agencies, WSCUC has provided consent for the acquisition and no agency has objected
    to the acquisition. As such, all is in good order with relation to consents.
➢
An
    extending letter was signed on September 30, 2021 to extend the latest closing date to November 30, 2021.
➢
An
    extending letter was signed on December 21, 2021 to extend the terms of the agreement to January 31, 2022.
➢
An
    extending letter was signed on January 23, 2022 to extend the terms of the agreement to February 28, 2022.
➢
An
    extending letter was signed on February 25, 2022 to extend the terms of the agreement to March 31, 2022.
➢
An
    amendment was signed on March 24, 2022 to extend the terms of the agreement to April 30, 2022, and to amend the consideration to
    $6.5 million in cash, $6 million in shares in Genius Group and $17.5 million in a note payable.
➢
An
    amendment was signed on April 18, 2022 to extend the terms of the agreement to December 31, 2022, and to amend the consideration
    to $6 million in shares in Genius Group based on the IPO price of $6 per ordinary share.
➢
An
    amendment was signed on May 18, 2022 to adjust the closing date to June 30, 2022 as well as updating the 'payment of top up
    consideration' based on the performance of UAV over the 2022, 2023 and 2024 fiscal years.
➢
An
    amendment was signed on June 30, 2022 to adjust the closing date to July 7, 2022.
The
acquisition of UAV was closed on July 7, 2022.
Education
Angels.
Education Angels delivers home educators and childcare for 0-5 year old's with creative thinking and play modules.
➢
The
    Share Purchase Agreement was signed on October 22, 2020 between Genius Group Ltd and the owners of Education Angels, David Raymond
    Hitchins and Angela Stead, for the purchase of 100% of the shares in Education Angels in Home Childcare Limited.
➢
The
    purchase price is calculated as 2x the annual revenue in 2019 or 2020 (whichever is higher) of Education Angels, with a minimum purchase
    price of NZ$3 million.
➢
The
    payment will be 100% in shares of Genius Group Ltd, set at the pre-split price of US$34.87 per share.
125
➢
The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition, less
    any director's loans or shareholder's loans.
➢
The
    sellers agree not to see any shares in Genius Group Ltd for at least 6 months from closing in the case of David Hitchins and 12 months
    in the case of Angie Stead.
➢
Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.
➢
The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.
➢
An
    extending letter was signed on September 30, 2021 to extend the terms of the agreement to December 31, 2021.
➢
An
    extending letter was signed on December 17, 2021 to extend the terms of the agreement to March 31, 2022.
➢
An
    extending letter was signed on March 24, 2022 to extend the terms of the agreement to June 30, 2022.
The
acquisition of Education Angels was completed on April 30, 2022.
E-Square
.
E-Square is a full campus with primary, secondary and college education for students in entrepreneurship.
➢
The
    Share Purchase Agreement was signed on November 20, 2020 between Genius Group Ltd and the owner of E-Square, Lilian Magdalena Niemann,
    for the purchase of 100% of the shares in E-Squared Education Enterprises (Pty) Ltd.
➢
The
    purchase price is ZAR10 million (approximately US$0.66 million).
➢
The
    payment will be 100% in cash, with ZAR6.4 million (US$US$0.42 million) paid on the closing data and ZAR3.6 million (US$0.24 million)
    paid within 6 months of the closing date.
➢
The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition.
➢
Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.
➢
The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.
➢
An
    extending letter was signed on September 30, 2021 to extend the latest closing date to December 31, 2021.
➢
An
    extending letter was signed on December 17, 2021 to extend the terms of the agreement to March 31, 2022.
➢
An
    extending letter was signed on March 24, 2022 to extend the terms of the agreement to June 30, 2022.
The
acquisition of E-Square closed May 31, 2022.
Property
Investors Network
. PIN is a UK-based property networking organization.
➢
The
    Share Purchase Agreement was signed on November 30, 2020, between Genius Group Ltd and the owner of Property Investors Network (PIN),
    Simon Zutshi on behalf of Property Mastermind International Pte Ltd (MPL), for the purchase of 100% of the shares in Property Investors
    Network Ltd and Mastermind Principles Ltd.
➢
The
    purchase price was calculated as 1x the annual revenue in 2019 or 2020 (whichever is higher) of the two companies in the agreement.
126
➢
The
    payment will be 10% in cash and 90% in shares of Genius Group Ltd, set at the pre-split price of US$34.87 per share, with the shares
    paid on closing and the cash paid within 7 days of closing.
➢
The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as of the date of the acquisition, less
    any director's loans or shareholder's loans.
➢
The
    parties agree to clear all director's loans and shareholder's loans from the balance sheets of the two companies first
    by Genius Group paying £1.5 million (US$2.0 million) to MPL on behalf of the seller in order to pay off part of the outstanding
    loans, and second by the seller repaying any remaining unpaid loans within three years of the closing date.
➢
Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.
➢
The
    closing date of the agreement is on the date of the IPO. The seller has a set of deliverables to deliver on closing. These are currently
    prepared and in good order.
➢
An
    extending letter was signed on September 30, 2021 to extend the terms of the agreement to December 31, 2021.
➢
An
    extending letter was signed on December 17, 2021 to extend the terms of the agreement to March 31, 2022.
➢
An
    extending letter was signed on March 24, 2022 to extend the terms of the agreement to June 30, 2022.
➢
An
    amendment was signed on April 30, 2022, to reflect a change in the terms of the purchase price consideration to 2x revenue or 10x
    EBITDA.
The
acquisition of Property Investors Network was completed on April 30, 2022.
Revealed
Films
is a US based Film Production Company.
➢
The
    Share Purchase Agreement was signed on October 4, 2022 between Genius Group Ltd and the owners of Revealed Films, Jeff Hays and Patrick
    Gentempo, for the purchase of 100% of the shares in Revealed Films Inc.
➢
The
    purchase price is calculated as $10 million with additional top ups on achieving the pre-agreed revenue and profit targets.
➢
The
    payment will be $7 million in shares of Genius Group Ltd, set at price of US$5.17 per share, of which $ million in shares would be
    subject to a six month lock up agreement. And the balance of $3 million in cash to be paid $1 million immediately following acquisition
    and $2 million on or before December 31, 2022.
➢
The
    share purchase includes all rights, title, interest and benefits appertaining to the company, including all contracts, intellectual
    property, goodwill and ongoing operations, all assets and liabilities on the balance sheet as at the date of the acquisition, less
    any director's loans or shareholder's loans.
➢
Both
    parties have provided various representations, warranties and indemnifications as part of the agreement.
➢
The
    balance cash consideration was paid $1 million in Jan 2023 and $ million in March 2023 as per the subsequent agreement.
The
acquisition of Education Angels was completed on October 4, 2022.
D.
Exchange controls.
There
are no Singapore laws, decrees, regulations or other legislation that impose foreign exchange controls on us or that affect our payment
of dividends, interest or other payments to non-resident holders of our shares.
127
E.
Taxation.
The
following discussion is a summary of material Singapore income tax, Goods and Services Tax, stamp duty and estate duty considerations
relevant to the purchase, ownership and disposition of our ordinary shares by an investor who is not tax resident or domiciled in Singapore
and who does not carry on business or otherwise have a presence in Singapore. The statements made herein regarding taxation are based
on certain aspects of the tax laws of Singapore and administrative guidelines issued by the relevant authorities in force as of the date
hereof and are subject to any changes in such laws or administrative guidelines, or in the interpretation of those laws or guidelines,
occurring after such date, which changes could be made on a retroactive basis. The statements made herein do not describe all of the
tax considerations that may be relevant to all our shareholders, some of which (such as dealers in securities) may be subject to different
rules. The statements are not intended to be and do not constitute legal or tax advice and no assurance can be given that courts or fiscal
authorities responsible for the administration of such laws will agree with the interpretation adopted therein. Each prospective investor
should consult an independent tax advisor regarding all Singapore income and other tax consequences applicable to them from owning or
disposing of our ordinary shares in light of the investor's particular circumstances.
Income
Taxation Under Singapore Law
Dividend
Distributions with Respect to Ordinary Shares
On
the basis that a company is not tax resident in Singapore for Singapore tax purposes, dividends paid by the company should generally
be considered as sourced outside Singapore. Dividends paid by the company incorporated in Singapore under the one-tier tax exemption
scheme would allow such dividends not to be subjected to a withholding tax at the point of the distribution nor to be taxed in Singapore
upon receipt of such dividends in the hands of the holders of the shares.
Foreign-sourced
dividends received or deemed received in Singapore by an individual not resident in Singapore would be exempt from Singapore income tax.
This exemption will also apply in the case of a Singapore tax resident individual who receives such foreign-sourced income in Singapore
(except where such income is received through a partnership in Singapore).
Foreign-sourced
dividends received or deemed received by corporate investors in Singapore will be liable for Singapore tax. However, if the conditions
for the exemption of specified foreign-sourced income are met, foreign-sourced dividends received by corporate investors resident in
Singapore would be exempt from Singapore tax.
Foreign-sourced
dividends received or deemed received in Singapore on or after June 1, 2003 by a Singapore resident corporate taxpayer is exempt from
tax, provided certain prescribed conditions are met, including the following:
(a)
such
    income is subject to tax of a similar character to income tax under the law of the jurisdiction from which such income is received;
(b)
at
    the time the income is received in Singapore, the highest rate of tax of a similar character to income tax (by whatever name called)
    levied under the law of the territory from which the income is received on any gains or profits from any trade or business carried
    on by any company in that territory at that time is not less than 15%; and
(c)
the
    Comptroller of Income Tax is satisfied that the tax exemption would be beneficial to the person resident in Singapore.
In
the case of dividends paid by a company resident in a territory from which the dividends are received, the "subject to tax condition"
in (a) above is considered met where tax is paid in that territory by such company in respect of its income out of which such dividends
are paid or tax is paid on such dividends in that territory from which such dividends are received. Certain concessions and clarifications
have also been announced by the Inland Revenue Authority of Singapore ("IRAS") with respect to the above conditions.
128
Capital
Gains upon Disposition of Ordinary Shares
Under
current Singapore tax law, there is no tax on capital gains. As such, any profits from the disposal of our ordinary shares would not
ordinarily (where such decision to transact would have been made in Singapore) be taxable in Singapore unless the profits are deemed
to be income in nature. However, there are no specific laws or regulations which deal with the characterization of whether a gain is
income or capital in nature. If the decision to transact can be construed as having been made in Singapore and the gains from the disposal
of ordinary shares can be construed to be of an income nature (the IRAS would look at the determining factors such as the motive, the
holding period, the frequency of transactions, the nature of the subject matter, the circumstances of realization, the mode of financing
and other factors to determine the nature of the trade), the disposal profits would be taxable as income rather than capital gains. As
the precise status of each prospective investor will vary from one another, each prospective investor should consult an independent tax
advisor on the Singapore income tax and other tax consequences that will apply to their individual circumstances.
Subject
to certain conditions being satisfied, gains derived by a company from the disposal of our ordinary shares between the period of June
1, 2012 and December 31, 2027 (inclusive of both dates) will not be subject to Singapore income tax, if the divesting company holds a
minimum shareholding of 20% of our ordinary shares and these shares have been held for a continuous minimum period of 24 months. For
disposals during the period from June 1, 2012, and May 31, 2022 (inclusive of both dates), this exemption would not apply to the disposal
of unlisted shares in a company that is in the business of trading or holding immovable properties in Singapore (excluding property development).
For disposals during the period from June 1, 2022, and December 31, 2027 (inclusive of both dates), this exemption would not apply to
the disposal of unlisted shares in a company that is in the business of trading, holding or developing immovable properties in Singapore
or abroad.
In
addition, shareholders who apply, or who are required to apply, the Singapore Financial Reporting Standard 39 ("FRS 39"),
Financial Reporting Standard 109 ("FRS 109") or Singapore Financial Reporting Standard (International) 9 (Financial Instruments)
("SFRS(I) 9") (as the case may be), for the purposes of Singapore income tax may be required to recognize gains or losses
(not being gains or losses in the nature of capital) in accordance with the provisions of FRS 39, FRS 109 or SFRS(I) 9 (as modified by
the applicable provisions of Singapore income tax law) even though no sale or disposal of our ordinary shares is made. Singapore corporate
shareholders who may be subject to such tax treatment should consult their own accounting and tax advisors regarding the Singapore income
tax consequences of their acquisition, holding and disposal of our ordinary shares.
Stamp
Duty
There
is no Singapore stamp duty payable in respect of the issuance or holding of our new ordinary shares. Singapore stamp duty will be payable
if there is an instrument of transfer of our ordinary shares executed in Singapore or if there is an instrument of transfer executed
outside of Singapore which is received in Singapore. Under Singapore law, and subject to meeting the qualifying requirements, stamp duty
is not applicable to electronic transfers of our shares effected on a book entry basis outside Singapore. We therefore expect that if
all qualifying conditions are met, no Singapore stamp duty will be payable in respect of ordinary shares purchased by U.S. holders in
the IPO assuming that they are acquired solely in book entry form through the facility outside Singapore established by our transfer
agent and registrar outside Singapore.
Where
shares evidenced in certificated form are transferred and an instrument of transfer is executed (whether physically or in the form of
an electronic instrument) in Singapore or outside Singapore and which is received in Singapore, Singapore stamp duty is payable on the
instrument of transfer for the sale of our ordinary shares at the rate of 0.2% of the consideration for, or market value of, the transferred
shares, whichever is higher. The Singapore stamp duty is borne by the purchaser unless there is an agreement to the contrary. Where the
instrument of transfer is executed outside of Singapore and is received in Singapore, Singapore stamp duty must be paid within 30 days
of receipt of the instrument of transfer in Singapore. Electronic instruments that are executed outside Singapore are treated as received
in Singapore in any of the following scenarios: (a) it is retrieved or accessed by a person in Singapore; (b) an electronic copy of it
is stored on a device (including a computer) and brought into Singapore; or (c) an electronic copy of it is stored on a computer in Singapore.
Where the instrument of transfer is executed in Singapore, Singapore stamp duty must be paid within 14 days of the execution of the instrument
of transfer.
129
Goods
and Services Tax
The
issue or transfer of ownership of our ordinary shares would be exempt from Singapore goods and services tax, or GST. Hence, no GST would
be incurred on the subscription or subsequent transfer of our ordinary shares.
The
sale of our ordinary shares by a GST-registered investor belonging in Singapore for GST purposes to another person belonging in Singapore
is an exempt supply not subject to GST. Any input GST incurred by the GST-registered investor in making the exempt supply is generally
not recoverable from the Singapore Comptroller of GST.
Where
our ordinary shares are sold by a GST-registered investor in the course of or furtherance of a business carried on by such investor contractually
to and for the direct benefit of a person belonging outside Singapore, the sale should generally, subject to satisfaction of certain
conditions, be considered a taxable supply subject to GST at 0%. Subject to the normal rules for input tax claims, any input GST incurred
by the GST-registered investor in making such a supply in the course of or furtherance of a business carried out by such investor may
be fully recoverable from the Singapore Comptroller of GST.
Each
prospective investor should consult an independent tax advisor on the recoverability of input GST incurred on expenses in connection
with the purchase and sale of our ordinary shares if applicable.
Services
consisting of arranging, brokering, underwriting or advising on the issue, allotment or transfer of ownership of our ordinary shares
rendered by a GST-registered person to an investor belonging in Singapore for GST purposes in connection with the investor's purchase,
sale or holding of our ordinary shares will be subject to GST at the standard rate of 7%. Similar services rendered by a GST-registered
person contractually to and for the direct benefit of an investor belonging outside Singapore should generally, subject to the satisfaction
of certain conditions, be subject to GST at 0%.
With
the implementation of reverse charge from January 1, 2020, the "directly benefit" condition for zero- rating (i.e. GST at
0%) will be amended to allow the zero-rating of a supply of services to the extent that the services directly benefit a person belonging
outside Singapore or a GST-registered person in Singapore.
Under
the reverse charge regime, a GST-registered partially exempt business that is not entitled to full input tax claims will be required
to account for GST on all services that it procures from overseas suppliers (except for certain services which are specifically exempt
from reverse charge). A non GST-registered person whose total value of imported services for a 12-month period exceeds S$1 million and
is not entitled to full input tax claims even if such person was GST-registered may become liable for GST registration and be required
to account for GST both on its taxable supplies and imported services subject to reverse charge.
Estate
Duty
Singapore
estate duty has been abolished with effect from February 15, 2008 in relation to the estate of any person whose death has occurred on
or after February 15, 2008.
Tax
Treaties Regarding Withholding Taxes
There
is currently no comprehensive avoidance of double taxation agreement between the United States and Singapore which applies to withholding
taxes on dividends or capital gains.
POTENTIAL
PURCHASERS OF OUR ORDINARY SHARES ARE URGED TO CONSULT THEIR OWN TAX ADVISORS TO DETERMINE THE U.S. FEDERAL, STATE, LOCAL, AND NON-U.S.
INCOME, GIFT, ESTATE OR GENERATION-SKIPPING TRANSFER, AND OTHER TAX AND TAX TREATY CONSIDERATIONS OF PURCHASING, OWNING AND DISPOSING
OF OUR ORDINARY SHARES.
F.
Dividends and paying agents.
Not
applicable.
G.
Statement by experts.
Not
applicable.
130
H.
Documents on display.
We
previously filed with the SEC our registration statement on Form F-1, as amended and prospectus under the Securities Act of 1933, with
respect to our ordinary shares.
We
are subject to the periodic reporting and other informational requirements of the Exchange Act. Under the Exchange Act, we are required
to file reports and other information with the SEC. Specifically, we are required to file annually a Form 20-F within four months after
the end of each fiscal year, which is December 31. The SEC maintains a website at www.sec.gov that contains reports, proxy and information
statements, and other information regarding registrants that make electronic filings with the SEC using its EDGAR system. As a foreign
private issuer, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of quarterly reports and proxy
statements, and officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions
contained in Section 16 of the Exchange Act.
We
also make available on the Investors section of our website, free of charge, our Annual Reports on Form 20-F and the text of our reports
on Form 6-K, including any amendments to these reports, as well as certain other SEC filings, as soon as reasonably practicable after
they are electronically filed with or furnished to the SEC. Our website address is www.geniusgroup.net. The information on that website
is not part of this Annual Report.
We
announce material financial information to our investors using our Investors website (investors.geniusgroup.net), SEC filings, press
releases, public conference calls, and webcasts. We use these channels, as well as social media, to communicate with our users and the
public about our company, our services, and other issues. It is possible that the information we post on these channels could be deemed
to be material information. Therefore, we encourage investors, the media, and others interested in our company to review the information
we post on the channels listed on our Investors website. Information contained on our website is not part of this Annual Report on Form
20-F or any other filings we make with the SEC.
I.
Subsidiary Information.
Please
refer to "Item 4. Information on the Company - C. Organization Structure."
Item
11. Quantitative and Qualitative Disclosures About Market Risk.
Interest
Rate Risk
Interest
rate fluctuations, primarily due to the uncertain future behavior of markets, may have a material impact on the financial results of
a company. Given the fact that the Company has no outstanding bank borrowings or loans, we believe we have not been exposed to material
risks due to changes in market interest rates. However, we cannot provide assurance that we will not be exposed to material risks due
to changes in market interest rate in the future.
Foreign
Exchange Risk
The
functional currency of our operating subsidiary is SGD, and therefore our operations are exposed to foreign exchange rate fluctuations.
Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates, particularly
changes in the SGD to the U.S. dollar.
Item
12. Description of Securities Other than Equity Securities.
Not
applicable.
131
PART
II
Item
13. Defaults, Dividend Arrearages and Delinquencies.
There
are no defaults, dividend arrearages and delinquencies or other information required to be disclosed in response to this Item.
Item
14. Material Modifications to the Rights of Security Holders and Use of Proceeds.
In
connection with the IPO (including over-allotment exercise), the Company issued and sold 3,763,636 ordinary shares and received aggregate
gross proceeds of approximately $22.58 million, before deducting underwriting discounts, commissions and offering expenses.
The
net proceeds from the offering have been used, and are expected to continue to be used, for the following purposes:
●
approximately
    $3.1 million for underwriting discounts, commissions and offering expenses;
●
approximately
    $9.0 million for the cash portion of the Acquisitions; and
●
the
    remainder for working capital and general corporate purposes.
Item
15. Controls and Procedures.
Evaluation
of Disclosure Controls and Procedures
The Company
maintains "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Exchange. As of December
31, 2022, the Company has not completed an evaluation, under the supervision and with the participation of the Company's management,
including the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of
the Company's disclosure controls and procedures.
In designing
and evaluating its disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well
conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures
are met. Additionally, in designing disclosure controls and procedures, management necessarily was required to apply its judgment in
evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures
also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions.
The Chief Executive Officer (CEO) and the Chief
Financial Officer (CFO), believe the effectiveness of our disclosure controls and procedures as of December 31, 2022, were not effective
as a consequence of the material weaknesses described below.
Management's
Report on Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining
adequate internal control over financial reporting (as defined in Rule 13a-15(f) and 15d- 15(f) of the Exchange Act). Our management has
not assessed the effectiveness of our internal control over financial reporting as of December 31, 2022. Our management concluded that
our internal control over financial reporting was not effective as of December 31, 2022 as a consequence of the following material weaknesses:
●
lack of sufficient documentation of our existing financial
processes, risk assessment and internal controls activities and evaluation of effectiveness of internal controls;
●
Inadequate internal controls, including inadequate segregation
of duties, over account reconciliations, the preparation and review of the consolidated financial statements and untimely annual closings
of the books;
●
Inadequate internal control over accounting for and financial
reporting related to business combination accounting and subsequent assessment for impairments as they related to goodwill and other long
lived assets;
●
Inadequate information technology general controls as it
relates to user access rights and segregation of duties over systems that are critical to the Company's system of financial reporting
A material weakness is a deficiency, or combination of
deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of
annual or interim consolidated financial statements will not be prevented or detected on a timely basis.
132
The effectiveness of any system of internal control over
financial reporting is subject to inherent limitations, including the exercise of judgment in designing, implementing, operating, and
evaluating the controls and procedures, and the inability to eliminate misconduct completely. Accordingly, any system of internal control
over financial reporting can only provide reasonable, not absolute, assurances. In addition, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
The Company continues to strengthen its internal controls
in 2022 and 2023 over financial reporting for the segregation of duties, banks and contract signatory rights, IT access controls and in
late 2022, hired an internal auditor consulting firm to assist with the design and testing of the Company's internal controls.
Changes
in Internal Control over Financial Reporting
There were no changes in the Company's internal control
over financial reporting that occurred during the fiscal year ended December 31, 2022 and that has materially affected, or is reasonably
likely to affect, the Company's internal control over financial reporting.
Item
16. [Reserved]
Item
16A. Audit committee financial expert.
In
general, an "audit committee financial expert" is an individual member of the Audit Committee who:
●
understands
    generally accepted accounting principles and financial statements,
●
is
    able to assess the general application of such principles in connection with accounting for estimates, accruals and reserves,
●
has
    experience preparing, auditing, analyzing or evaluating financial statements comparable to the breadth and complexity to our financial
    statements,
●
understands
    internal controls over financial reporting, and
●
understands
    audit committee functions.
An
    "audit committee financial expert" may acquire the foregoing attributes through:
●
education
    and experience as a principal financial officer, principal accounting officer, controller, public accountant, auditor or person serving
    similar functions;
●
experience
    actively supervising a principal financial officer, principal accounting officer, controller, public accountant, auditor or person
    serving similar functions;
●
experience
    overseeing or assessing the performance of companies or public accounts with respect to the preparation, auditing or evaluation of
    financial statements; or
●
other
    relevant experience.
Our
board of directors has determined that Mr. Richard J. Berman qualifies as an audit committee financial expert and has the accounting
or financial management expertise as required under Item 407(d)(5)(ii) and (iii) of Regulation S-K. All audit committee members satisfy
the independence requirements set forth under the rules of the NYSE American, Upstream and in Rule 10A-3 under the Exchange Act.
133
Item
16B. Code of Ethics.
A
Code of Ethics is a written standard designed to deter wrongdoing and to promote:
●
honest
    and ethical conduct,
●
full,
    fair, accurate, timely and understandable disclosure in regulatory filings and public statements,
●
compliance
    with applicable laws, rules and regulations,
●
the
    prompt reporting violation of the code to an appropriate person or persons identified in the code and
●
accountability
    for adherence to the code.
We
have adopted a Code of Business Conduct and Ethics that is applicable to all of our employees, and also contains provisions that apply
only to our principal executive officer, principal financial and accounting officers and persons performing similar functions. A copy
of our Code of Business Conduct and Ethics is incorporated by reference as an exhibit to this Annual Report and posted on our website
at https://www.geniusgroup.net/.
Item
16C. Principal Accountant Fees and Services.
The
following table shows the fees that we incurred for audit and other services provided by Marcum LLP, our independent registered
public accounting firm, for fiscal years 2021 and 2022.
Fiscal 2021
Fiscal 2022
Audit Fees
$
652,519
721,515
Audit-Related Fees
—
—
Tax Fees
—
—
All Other Fees
—
12,875
Total
$
652,519
$
734,390
Audit
Fees —This category includes the audit of our annual financial statements and services that are normally provided by the independent
auditors in connection with engagements for those fiscal years.
Audit-Related
Fees — This category consists of assurance and related services by the independent auditors that are reasonably related to the
performance of the audit or review of our financial statements and are not reported above under "Audit Fees".
Tax
Fees — This category consists of professional services rendered by the Company's independent registered public accounting
firm for tax compliance and tax advice. The services for the fees disclosed under this category include tax return preparation and technical
tax advice.
All
Other Fees — This category consists of fees for other miscellaneous items.
The
Audit Committee has adopted a procedure for pre-approval of all fees charged by the Company's independent registered public accounting
firm. Under the procedure, the Audit Committee approves the engagement letter with respect to audit, tax and review services. Other fees
are subject to pre-approval by the entire Committee, or, in the period between meetings, by a designated member of the Audit Committee.
Any such approval by the designated member is disclosed to the entire Audit Committee at the next meeting. The audit fees paid to Marcum
LLP with respect to fiscal years 2020 and 2021 were all approved by the Audit Committee.
Item
16D. Exemptions from the Listing Standards for Audit Committees.
None.
134
Item
16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers.
There
have been no purchases of equity securities required to be disclosed in response to this Item.
Item
16F. Change in Registrant's Certifying Accountant.
Not
applicable.
Item
16G. Corporate Governance.
Our
common shares are listed on the NYSE American and Upstream. For purposes of NYSE American rules, so long as we are a foreign private
issuer, we are eligible to take advantage of certain exemptions from NYSE American corporate governance requirements provided in the
NYSE American rules. We are required to disclose the significant ways in which our corporate governance practices differ from those that
apply to U.S. companies under NYSE American listing standards. Set forth below is a summary of these differences:
Board
Committees—The NYSE American rules require domestic companies to have a compensation committee and a nominating and corporate governance
committee composed entirely of independent directors, but as a foreign private issuer we are exempt from these requirements. We have
a compensation committee comprised of three members, and we believe that all of the committee members satisfy the "independence"
requirements of the NYSE rules.
Shareholder
Approval of Equity Plans—The NYSE rules require shareholder approval of stock option plans and other equity compensation arrangements
available to officers, directors or employees and any material amendments thereto, but as a foreign private issuer we are permitted to
follow home country practice in lieu of those rules. Under home country practice, shareholder approval of stock option plans and other
equity compensation arrangements is not required; however, we are required to seek shareholder approval of the compensation paid to our
directors and issuances of new shares (including those that may need to be issued under any stock option plans or other equity compensation
arrangements). The Company's Board of Directors approves the stock option plans and other equity compensation arrangements that
do not require shareholder approval under our home country practice.
Item
16H. Mine Safety Disclosure.
Not
applicable.
Item
16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.
Not
applicable.
135
PART
III
Item
17. Financial Statements.
We
have elected to provide financial statements pursuant to Item 18.
Item
18. Financial Statements.
The
audited Consolidated Financial Statements as required under Item 18 are attached hereto starting on page F-1 of this Form 20-F.
Item
19. Exhibits
The
following are filed as exhibits hereto:
Exhibit
Number
Description
    of Document
2.1
Share Purchase Agreement dated Oct. 22, 2020 among Genius Group Ltd, David Raymond Hitchins and Angela Stead (1)
2.2
Share Purchase Agreement dated Nov. 28, 2020 between Genius Group Ltd and Lillian Magdalena Niemann (1)
2.3
Share Purchase Agreement dated Nov. 30, 2020 between Genius Group Ltd and Property Mastermind International PTE Ltd. (1)
2.4
Stock Purchase Agreement dated Dec. 18, 2020 among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (1)
2.5
Tender Offer Letter dated May 14, 2020 for Genius Group Ltd to acquire Entrepreneur Resorts Limited(1)
2.6
Asset Transfer Agreement dated Oct. 1, 2019 between Genius Group Ltd and GeniusU Ltd (1)
2.7
Share Purchase Agreement dated Aug. 30, 2019 between Genius Group Ltd and Wealth Dynamics Pte Ltd (1)
2.8
Extending Letter dated September 30, 2021 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (3)
2.9
Extending Letter dated September 30, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (3)
2.10
Extending Letter dated September 30, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (3)
2.11
Extending Letter dated September 30, 2021 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (3)
2.12
Extending Letter dated December 17, 2021 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (2)
2.13
Extending Letter dated December 17, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (2)
2.14
Extending Letter dated December 17, 2021 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (2)
2.15
Extending Letter dated December 21, 2021 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (2)
2.16
Extending Letter dated January 23, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (2)
2.17
Extending Letter dated February 25, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (5)
2.18
Amendment Letter dated March 24, 2022 amending the Stock Purchase Agreement among Sandra Johnson, Marco Johnson, University of Antelope Valley, Inc., and University of Antelope Valley, LLC, and Genius Group Ltd. (5)
2.19
Extending Letter dated March 24, 2022 amending the Share Purchase Agreement between Genius Group Ltd and Lillian Magdalena Niemann (5)
2.20
Extending Letter dated March 24, 2022 amending the Share Purchase Agreement among Genius Group Ltd, David Raymond Hitchins and Angela Stead (5)
2.21
Extending Letter dated March 24, 2022 amending the Share Purchase Agreement between Genius Group Ltd and Property Mastermind International PTE Ltd. (5)
3.1
Constitution of the Registrant (1)
4.1
Registrant's Specimen Certificate for Ordinary Shares (1)
10.1
Tenancy Agreement dated June 27, 2019 between China Classic Pte Ltd and Entrepreneur Resorts Pte Ltd (1)
10.2
Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Roger James Hamilton (1)
136
10.3
Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Michelle Clarke (1)
10.4
Employment and Board of Directors Agreement dated June 15, 2020 between Genius Group Ltd and Suraj Naik (1)
10.5
Employment of Director Agreement dated June 15, 20202 between Genius Group Ltd and Sandra Morrell (1)
10.6
Employment Agreement dated June 15, 2020 between Genius Group Ltd and Jeremy Harris (1)
10.7
Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Patrick Grove (1)
10.8
Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Anna Gong (1)
10.9
Board of Directors Services Agreement dated Jan. 1, 2020 between Genius Group Ltd and Nic Lim Kah Wui (1)
10.10
Facility Letter dated Sept. 12, 2019 between Wealth Dynamics Pte Ltd and United Overseas Bank Limited (1)
10.8
Employee Share Option Scheme Rules (1)
10.9
Service Level Agreement with Salesforce (Includes attachments) (1)
10.11
Matla Game Lodge Lease (Including Change of Name) (1)
10.12
Tau Game Lodge Lease Agreement — Office (1)
10.15
Tau Game Lodge Lease Agreement — Lodge (1)
10.16
Novation Tenancy Agreement dated January 23, 2020 between China Classic Pte Ltd and Genius Central Singapore Pte Ltd. (4)
10.17
Board of Directors Services Agreement dated Jan. 1, 2021 between Genius Group Ltd and Richard J. Berman (2)
12.1
    *
Certification of the Chief Executive Officer of Genius Group pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
12.2
    *
Certification of the Chief Financial Officer of Genius Group pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
13.1
    **
Certification of the Chief Executive Officer Genius Group pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
13.2
    **
Certification of the Chief Financial Officer of Genius Group pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
14.1
Code of Ethics (1)
21.1
List of Subsidiaries (1)
21.1(a)
Consent of Lightheart, Sanders and Associates
21.1(b)
Revealed Films Audited Financial Statements for the Period Ended September 30, 2022
101.
    INS*
Inline
    XBRL Instance Document.
101.
    SCH*
Inline
    XBRL Taxonomy Extension Schema Document.
101.
    CAL*
Inline
    XBRL Taxonomy Extension Calculation Linkbase Document.
101.
    DEF*
Inline
    XBRL Taxonomy Extension Definition Linkbase Document.
101.
    LAB*
Inline
    XBRL Taxonomy Extension Label Linkbase Document.
101.
    PRE*
Inline
    XBRL Taxonomy Extension Presentation Linkbase Document.
104*
Cover
    Page Interactive Data File (embedded within the Inline XBRL document)
(1)
Incorporated by reference to
    our Amendment No. 1 to Registration Statement on Form F-1/A, filed on August 30, 2021.
(2)
Incorporated by reference to
    our Amendment No. 5 to Registration Statement on Form F-1/A, filed on January 25, 2022.
(3)
Incorporated by reference to
    our Amendment No. 3 to Registration Statement on Form F-1/A, filed on November 23, 2021.
(4)
Incorporated by reference to
    our Amendment No. 2 to Registration Statement on Form F-1/A, filed on October 20, 2021.
(5)
Incorporated by reference to
    our Amendment No. 9 to Registration Statement on Form F-1/A, filed on March 24, 2022.
*
Filed herewith.
**
Furnished herewith.
137
SIGNATURE
The
registrant hereby certifies that is meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized
the undersigned to sign this Annual Report on its behalf.
GENIUS
    GROUP
By:
/s/
    Roger Hamilton
Roger
    Hamilton
Chief
    Executive Officer
Date:
June 06, 2023
138
Genius
Group Limited and Subsidiaries
Consolidated
Financial Statements
INDEX
Audited
    Consolidated Financial Statements
Directors'
    Responsibilities and Approval.
F-2
Report
    of Independent Registered Public Accounting Firm
(PCAOB ID:
688
)
F-3
Consolidated
    Statements of Financial Position as of December 31, 2022 and 2021
F-4
Consolidated
    Statements of Operations and Comprehensive Loss for the years ended December 31, 2022 and 2021
F-5
Consolidated
    Statements of Changes in Stockholders' Equity for the years ended December 31, 2022 and 2021
F-6
Consolidated
    Statements of Cash Flows for the years ended December 31, 2022 and 2021
F-7
Notes
    to Consolidated Financial Statements
F-8
F-
1
Genius
Group Limited and Subsidiaries
Directors'
Statement
For
the financial year ended December 31, 2022
The
directors are required in terms of the International Business Companies Act of 2016 to maintain adequate accounting records and are responsible
for the content and integrity of the consolidated financial statements and related financial information included in this report. It
is their responsibility to ensure that the consolidated financial statements fairly present the state of affairs of the Group at the
end of the financial year and the results of its operations and cash flows for the period then ended, in conformity with International
Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and IFRS Interpretations committee
(IFRIC). The external auditors are engaged to express an independent opinion on the consolidated financial statements.
The
consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the
International Accounting Standards Board (IASB) and IFRS Interpretations committee (IFRIC) and are based upon appropriate accounting
policies consistently applied and supported by reasonable and prudent judgements and estimates.
The
directors acknowledge that they are ultimately responsible for the system of internal financial control established by the Group and
place considerable importance on maintaining a strong control environment. To enable the directors to meet these responsibilities, the
board of directors sets standards for internal control aimed at reducing the risk of error or loss in a cost-effective manner. The standards
include the proper delegation of responsibilities within a clearly defined framework, effective accounting procedures and adequate segregation
of duties to ensure an acceptable level of risk. These controls are monitored throughout the Group and all employees are required to
maintain the highest ethical standards in ensuring the Group's business is conducted in a manner that in all reasonable circumstances
is above reproach. The focus of risk management in the Group is on identifying, assessing, managing, and monitoring all known forms of
risk across the Group. While operating risk cannot be fully eliminated, the Group endeavors to minimize it by ensuring that appropriate
infrastructure, controls, systems, and ethical behavior are applied and managed within predetermined procedures and constraints.
The directors are of the opinion, based on the information and explanations
given by management, that the system of internal controls does not provide reasonable assurance that the financial records may be relied
on for the preparation of the consolidated financial statements. However, any system of internal financial control can provide only reasonable,
and not absolute, assurance against material misstatement or loss.
The
directors have reviewed the Group's cash flow forecast for the year to December 31, 2022, and, in light of this review and the
current financial position, there is substantial doubt about its ability to continue as a going concern within one year after the date
that the consolidated financial statements are issued.
The
external auditors are responsible for independently auditing and reporting on the Group's consolidated financial statements. The
consolidated financial statements have been examined by the Group's external auditors and their report is presented on page F-3.
The
consolidated financial statements set out beginning on page F-4, which have been prepared on the going concern basis, were approved by
the board of directors on June 06,2023 and were signed by:
/s/
    Roger James Hamilton
Roger
    James Hamilton, Director
/s/
    Suraj Naik
Suraj
    Naik, Director
Date:
    June 06, 2023
F-
2
Report
of Independent Registered Public Accounting Firm
To
the Shareholders and Board of Directors of
Genius
Group Limited and Subsidiaries
Opinion
on the Financial Statements
We have audited the accompanying consolidated statements
of financial position of Genius Group Limited and Subsidiaries (the "Company") as of December 31, 2022 and 2021, the related
consolidated statements of operations and comprehensive loss, stockholders' equity and cash flows for each of the two years in the
period ended December 31, 2022, and the related notes (collectively referred to as the "financial statements"). In our opinion,
the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021,
and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2022, in conformity with
International Financial Reporting Standards as issued by the International Accounting Standards Board.
Explanatory Paragraph – Going Concern
The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 2, the Company has incurred
significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial
doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described
in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Restatement of Previously Issued Financial Statements
As discussed in Note 2 to the financial statements,
the accompanying 2021 financial statements have been restated to correct a misstatement. Our opinion is not modified with respect to this
matter.
Basis for Opinion
These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB")
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal
control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Marcum LLP
We
    have served as the Company's auditor since 2020.
Melville,
    NY
June 5, 2023
F-
3
GENIUS
GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION
(Expressed
in US Dollars)
For
    the year ended December 31,
Note
2022
2021
ASSETS
Current
    Assets
Cash
    and cash equivalents
$
5,720,569
$
1,784,938
Restricted
    cash
2
11,108,816
—
Accounts
    receivable, net
2
4,856,637
1,018,003
Other
    Receivables
5
120,304
66,000
Due
    from related parties
6
351,357
44,245
Inventories
7
1,001,977
92,530
Prepaid
    expenses and other current assets
8
1,090,787
3,490,446
Total
    Current Assets
24,250,447
6,496,162
Property
    and equipment, net
9
563,131
6,776,116
Operating
    lease right-of-use asset
10
12,573,710
1,077,241
Investments
    at fair value
11
29,071
29,069
Goodwill
12
31,688,887
1,320,100
Intangible
    assets, net
13
16,107,293
1,394,969
Other
    receivables
5
732,716
—
Due
    from related parties
6
5,288,264
—
Other
    non-current assets
15
26,108
501,750
Total
    Assets
$
91,259,627
$
17,595,407
LIABILITIES
    AND STOCKHOLDERS' EQUITY
Current
    Liabilities
Accounts
    payable
$
1,672,306
$
1,078,381
Accrued
    expenses and other current liabilities
16
3,809,540
2,064,302
Deferred
    revenue
17
6,391,993
2,561,912
Income
    tax payable
2
355,023
—
Due
    to related parties
19
2,932,090
425,551
Operating
    lease liabilities - current portion
10
1,590,538
436,271
Loans
    payable - current portion
18
334,391
65,415
Convertible
    debt obligations - current portion
20
5,752,328
507,765
Short
    term debt
20
539,245
—
Total
    Current Liabilities
23,377,454
7,139,597
Due
    to related parties
19
1,729
—
Operating
    lease liabilities – non-current portion
10
11,394,337
894,589
Loans
    payable – non-current portion
18
428,025
85,858
Convertible
    debt obligations - non-current portion
20
2,223,523
766,245
Deferred
    tax liability
14
3,391,129
723,122
Derivative
    liabilities
21
36,488,594
—
Total
    Liabilities
77,304,791
$
9,609,411
Stockholders'
    Equity
Contributed
    capital
22
110,534,000
50,924,276
Subscriptions
    receivable
22
(
1,900,857
)
(
1,900,857
)
Reserves
(
32,933,714
)
(
31,888,638
)
Accumulated
    deficit
(
68,539,210
)
(
13,493,684
)
Capital
    and reserves attributable to owners of Genius Group Ltd
7,160,219
3,641,097
Non-controlling
    interest
6,794,617
4,344,899
Total
    Stockholders' Equity
13,954,836
7,985,996
Total
    Liabilities and Stockholders' Equity
$
91,259,627
$
17,595,407
The
accompanying notes are an integral part of these consolidated financial statements.
F-
4
GENIUS
GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed
in US Dollars)
For
    the year ended December 31,
Note
2022
2021
As restated (1)
Revenue
23
$
18,193,616
$
8,294,804
Cost
    of revenue
2
(
9,554,327
)
(
5,537,346
)
Gross
    profit
8,639,289
2,757,458
Operating
    (Expenses) Income
General
    and administrative
25
(
21,073,794
)
(
7,211,204
)
Depreciation
    and amortization
9
(
1,182,413
)
(
38,864
)
Other
    operating income
24
144,396
490,300
Impairment
    loss
9,12,13
(
28,246,010
)
—
(Loss)
    gains from foreign currency transactions
2
135,625
(
166,174
)
Total
    operating expenses
(
50,222,196
)
(
6,925,942
)
Loss
    from Operations
(
41,582,907
)
(
4,168,484
)
Other
    Expense
Other
    Income
24
418,437
—
Revaluation adjustment of contingent liabilities
21
(
13,838,197
)
—
Interest
    expense, net
26
(
1,312,476
)
(
449,566
)
Total
    Other Expense
(
14,732,236
)
(
449,566
)
Loss
    Before Income Tax
(
56,315,143
)
(
4,618,050
)
Income
    Tax Benefit
27
1,063,596
128,852
Net
    Loss
(
55,251,547
)
(
4,489,198
)
Other
    comprehensive income:
Foreign
    currency translation
2
(
1,045,076
)
230,081
Total
    Comprehensive Loss
$
(
56,296,623
)
$
(
4,259,117
)
Net Loss is attributed to:
28
Owners of Genius Group Ltd
(
55,045,526
)
(
4,315,239
)
Non-controlling interest
(
206,021
)
(
173,959
)
Net Loss
(
55,251,547
)
(
4,489,198
)
Total
    Comprehensive Loss is attributable to:
Owners
of
                                                                                               Genius Group Ltd
(
56,090,602
)
(
4,085,158
)
Non-controlling
    interest
(
206,021
)
(
173,959
)
Total
    Comprehensive Loss
$
(
56,296,623
)
$
(
4,259,117
)
Net
    loss per share attributed to common stockholders, basic and diluted
$
(
2.44
)
$
(
0.28
)
Weighted-average
    number of shares outstanding, basic, and diluted
22,634,366
16,155,812
Number
    of shares outstanding, basic, and diluted
27,705,227
16,155,812
1)
Restatement details
in Note 2
The
accompanying notes are an integral part of these consolidated financial statements.
F-
5
GENIUS
GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
AS
OF DECEMBER 31, 2022 AND 2021
(Expressed
in US dollars)
Comprehensive Loss
Contributed Capital
Non-controlling
Subscription
Foreign
Accumulated
Total
Shares
Amount
Interest
Receivable
Currency
Reserves
Deficit
Equity
Balance, January 1, 2021
16,155,812
$
50,630,439
$
257,154
$
(
1,900,857
)
$
1,788,051
$
(
33,900,850
)
$
(
9,167,848
)
$
7,706,089
Net loss
-
-
-
-
-
(
4,489,198
)
(
4,489,198
)
Adjustment against capital and retained earnings
-
-
-
-
(
16,517
)
-
(
16,517
)
Foreign currency translation adjustments
-
-
-
230,081
-
-
230,081
Shares issued for cash in GeniusU
3,127,442
-
-
-
-
-
3,127,442
Shares issued in satisfaction of liability
-
-
-
-
-
-
-
Shares issued for conversion of convertible notes
181,175
-
-
-
-
-
181,175
Funds received for shares to be issued
-
953,087
-
-
-
-
953,087
Share based compensation
293,837
-
-
-
-
-
293,837
Non-controlling interest
(
3,308,617
)
3,134,658
-
10,597
-
163,362
-
Balance, December 31, 2021
16,155,812
$
50,924,276
$
4,344,899
$
(
1,900,857
)
$
2,028,729
$
(
33,917,367
)
$
(
13,493,684
)
$
7,985,996
Net loss
-
(
206,021
)
-
-
-
(
55,045,526
)
(
55,251,547
)
Foreign currency translation adjustments
-
-
-
(
1,045,076
)
-
-
(
1,045,076
)
Proceeds from IPO (net)
3,913,410
15,202,858
-
-
-
-
-
15,202,858
Share options GG IPO April 2022
45,580
270,476
-
-
-
-
-
270,476
GeniusU Shares issued for cash
-
2,655,739
-
-
-
-
2,655,739
Shares issued for conversion of convertible notes
1,554,097
7,829,607
-
-
-
-
-
7,829,607
Shares issued for IPO acquisition
5,975,407
35,098,001
-
-
-
-
-
35,098,001
Shares cancelled in satisfaction of liability, net of derivative liability
(
49,002
)
(
100,002
)
-
-
-
-
-
(
100,002
)
Share based compensation
109,923
1,308,784
-
-
-
-
-
1,308,784
Balance, December 31, 2022
27,705,227
$
110,534,000
$
6,794,617
$
(
1,900,857
)
$
983,653
$
(
33,917,367
)
$
(
68,539,210
)
$
13,954,836
The
accompanying notes are an integral part of these consolidated financial statements.
F-
6
GENIUS
GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Expressed
in US Dollars)
For
    the year Ended December 31,
2022
2021
CASH
    FLOWS FROM OPERATING ACTIVITIES:
Net
    Loss
$
(
55,251,547
)
$
(
4,489,198
)
Adjustments
    to reconcile net loss to net cash used in operating activities:
Stock-based
    compensation
1,308,784
293,837
Depreciation
    and amortization
2,350,640
1,574,913
Deferred
    income taxes
(
1,284,166
)
105,650
(Gain)
    loss on foreign exchange transactions
(
135,625
)
166,174
Provision
    for doubtful accounts
(
1,509,486
)
(
39,108
)
Impairment
    loss
28,246,010
—
Revaluation
    adjustment on contingent liabilities
13,838,197
—
Amortization
    of debt discount
—
140,837
Interest
    expense on lease liabilities
491,336
131,291
Changes
    in operating assets and liabilities
Accounts
    receivable
1,161,349
(
30,554
)
Other
    receivable
(
19,138
)
(
66,000
)
Prepaid
    expenses and other current assets
1,489,459
(
1,927,176
)
Inventory
(
545,449
)
20,013
Accounts
    payable
(
107,372
)
256,562
Accrued
    expenses and other current liabilities
751,442
254,080
Deferred
    revenue
996,324
1,015,200
Current
    tax provision
220,570
(
257,953
)
Income
    tax payable
(
237,759
)
—
Other
    non-current liabilities
—
(
217,291
)
Total
    Adjustments
47,015,116
1,420,475
Net
    cash used in operations
(
8,236,431
)
(
3,068,723
)
CASH
    FLOWS FROM INVESTING ACTIVITIES:
Internally
    developed software
(
743,995
)
(
804,314
)
Acquisitions
(
8,843,458
)
—
Purchase
    of equipment
(
222,680
)
(
77,797
)
Acquisition
    of intangible
(
279,356
)
—
Net
    cash used in investing activities:
(
10,089,489
)
(
882,111
)
CASH
    FLOWS FROM FINANCING ACTIVITIES:
Amount
    due to/from related party, net
(
221,842
)
(
154,345
)
Proceeds
    from derivative liability, net
(
250,000
)
—
Advance
    received for share issuances
953,087
Proceeds
    from IPO, net
17,308,453
—
Proceeds
    from convertible debt, net of issuance costs
4,184,964
—
Proceeds
    from equity issuances
2,701,215
3,127,442
Issuance
    from convertible debt
(
509,311
)
—
Lease
    liabilities
(
957,430
)
(
758,522
)
Proceeds from Loan
972,593
—
Repayment of Loan
(
1,285,181
)
(
71,967
)
Net
    cash provided by financing activities
21,943,461
3,095,695
Increase
    (decrease) in cash and cash equivalents during the year
3,617,541
(
855,139
)
Foreign
    exchange impact on cash
318,090
366,926
Cash
    and cash equivalents, beginning of year
1,784,938
2,273,151
CASH
    AND CASH EQUIVALENTS, END OF THE YEAR
$
5,720,569
$
1,784,938
Supplemental
    Disclosures of Cash Flow Information:
Cash
    paid during the period for interest
$
847,520
$
202,176
Non-Cash
    Investing and Financing Activities
Fair value of shares issued in satisfaction of a liability
$
350,000
$
—
Fair value of shares issued for the acquisition of entities
$
35,098,001
$
—
Fair value of shares issued for conversion of convertible notes
$
7,829,607
$
293,837
The
accompanying notes are an integral part of these consolidated financial statements.
F-
7
GENIUS
GROUP LIMITED AND SUBSIDIARIES
Notes
to Consolidated Financial Statements
NOTE
1 —
BUSINESS ORGANIZATION AND NATURE OF OPERATIONS
Genius
Group Ltd. ("Company") is an entrepreneur Edtech and education group, with a mission to disrupt the current education model
with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to
succeed in today's market.
The
Company operates through its main subsidiaries, GeniusU Ltd ("GU"), , Entrepreneur Resorts ("ERL"), Education
Angels ("EA"), University of Antelope Valley ("UAV"), E-Squared Education ("ESQ"), Property and Mastermind
Networks Limited ("PIN") and Revealed Films ("RF"). The Company owns
100
%
ownership all of the subsidiaries except
96.5
%
in GeniusU Ltd and
95.4
%
in Entrepreneur Resorts.
GU,
a Singapore company, which provides a full entrepreneur education system business development tools and management consultancy services
to entrepreneurs.
ERL
was incorporated in Seychelles, and represents a group of resorts, retreats, and co-working cafes for entrepreneurs. ERL owns resorts
in Bali and South Africa which run entrepreneur retreats and workshops. It also owns Genius Café, an entrepreneur beach club in
Bali, and Genius Central Singapore Pte Ltd, an entrepreneur co-working hub in Singapore.
EA
generates revenue from parents of young children from 0-5 years old paying for an EA trained educator to both educate and care for their
child. EA is required to be approved and in compliance by the New Zealand Ministry of Education ("MOE") in order to operate
and receive government funding. EA is approved by the MOE and 50% of EA educator fees are paid by the New Zealand Government.
UAV
is an accredited university based on a 10-acre campus in the United States. It offers career-focused on-campus and online programs at
the master's, bachelor's, and associate degree level, as well as certificate and continuing education programs in several
high-demand sectors.
ESQ
is an entrepreneur education campus in South Africa, providing a full range of programs from pre-primary through primary school, secondary
school, and vocational college.
PIN
is a United Kingdom private limited company. PIN provides investment education through its fifty city chapters and monthly events in
England, held both virtually and in-person.
RF
is a United States based media production company that specializes in multi-part documentaries that cover topics such as wealth building,
health and nutrition, medical issues, religion, and political matters.
The
three regions the Company operates in are: APAC (Asia Pacific, North Asia, and Australia); EMEA (Europe, Middle East, and Africa); and
NASA (North America and South America).
In
January 2020, the World Health Organization declared the COVID 19 virus an international pandemic. The imposed 'lock down'
and associated social distancing measures have had a significant effect on economic activity and have hurt in particular businesses in
the travel, entertainment, and leisure sectors. To cater to this unprecedented pandemic scenario, governments across the globe have enacted
many emergency funding and support schemes in order to alleviate the hopefully short-term liquidity difficulties encountered by businesses
and individuals. Such measures include corporate guarantee and liquidity measures, deferral of state taxes and/or suspension for debt
obligations, measures to allow businesses to implement forbearance and furlough measures while the employees receive reasonable proportion
of salaries and benefits. The Company has been able to avail itself of such measures as available to it which has been of assistance
to survive the financial impact of the pandemic.
In
2021, the Group received COVID related government subsidies amounting to $
490,300
reported under other operating income (Note 24).
F-
8
NOTE
2 —
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of Presentation
The
consolidated financial statements have been prepared on the going concern basis in accordance with, and in compliance with, International
Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"), and
International Financial Reporting Interpretations Committee ("IFRIC") interpretations issued and effective at the time of
preparing these consolidated financial statements and the International Business Companies Act of 2016.
The
consolidated financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes
that funds will be available to finance future operations that the realization of assets and settlement of liabilities, contingent obligations
and commitments will occur in the ordinary course of business.
The
consolidated financial statements have been prepared on the historical cost convention, unless otherwise stated in the accounting policies
which follow and incorporate the principal accounting policies set out below. The presentation currency is United States dollars.
Going Concern
Pursuant to IAS 1, Presentation of Financial
Statements, the Company is required to and does evaluate at each annual and interim period whether there are conditions or events, considered
in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the
consolidated financial statements are issued. Based on the definitions in the relevant accounting standards, and due
to recent changes in the Company's 2022 convertible loan terms in which company elected to pay all future payments in cash, negative
cash flows, and continued net losses, management has determined that without additional capital raised, in the next twelve months, there
is substantial doubt about the Company's ability to continue as a going concern
The Company's consolidated financial
statements as of December 31, 2022 have been prepared on a going concern basis. Although the Company has taken, and plans to continue
to take, proactive measures to enhance its liquidity position and provide additional financial flexibility, including discussions with
lenders and bankers, there can be no assurance that these measures, including the timing and terms thereof, will be successful or sufficient.
Principles
of Consolidation
The
consolidated financial statements incorporate the financial statements of the Company and all its subsidiaries. Subsidiaries are entities
(including structured entities) which are controlled by the Company. The Company has control of an entity when it is exposed to or has
rights to variable returns from involvement with the entity and it has the ability to affect those returns through the of use its power
over the entity. The results of subsidiaries are included in the consolidated financial statements from the effective date of acquisition
to the effective date of disposal. Adjustments are made when necessary to the financial statements of subsidiaries to bring their accounting
policies in line with those of the Company. All inter-company transactions, balances, and unrealized gains on transactions between consolidated
companies are eliminated in full upon consolidation. Unrealized losses on transactions between consolidated companies are also eliminated
upon consolidation unless the transaction provides evidence of an impairment of the asset transferred.
Business
Combinations
The
Company accounts for business combinations using the acquisition method of accounting in accordance with IFRS. The cost of the business
combination is measured as the aggregate of the fair values of assets given, liabilities incurred or assumed, and equity instruments
issued. Costs directly attributable to the business combination are expensed as incurred, except the costs to issue debt which are amortized
as part of the effective interest, and costs to issue equity which are included in stockholders' equity.
Any
contingent consideration is included in the cost of the business combination at fair value as at the date of acquisition. Subsequent
changes to the assets, liability or equity which arise as a result of the contingent consideration are not affected against goodwill,
unless they are valid measurement period adjustments.
Otherwise,
all subsequent changes to the fair value of contingent consideration that is deemed to be an asset or liability is recognized in either
profit or loss or in other comprehensive income, in accordance with relevant IFRS. Contingent consideration that is classified as equity
is not remeasured, and its subsequent settlement is accounted for within stockholders' equity.
The
acquiree's identifiable assets, liabilities and contingent liabilities which meet the recognition conditions of IFRS 3 —
Business Combinations ("IFRS 3") are recognized at their fair values at acquisition date, except for non-current assets (or
disposal groups) that are classified as held for sale in accordance with IFRS 5 — Non-current Assets Held for Sale and Discontinued
Operations, which are recognized at fair value less costs to sell.
F-
9
Contingent
liabilities are only included in the identifiable liabilities of the acquiree where there is a present obligation at acquisition date.
On
acquisition, the acquiree's assets and liabilities are reassessed in terms of classification and are reclassified where the classification
is inappropriate for Company's reporting purposes. This excludes lease agreements and insurance contracts whose classification remains as per their
inception date.
Non-controlling
interests in the acquiree are measured on an acquisition-by-acquisition basis either at fair value or at the non- controlling interests'
proportionate share in the recognized amounts of the acquiree's identifiable net assets. This treatment applies to non-controlling
interests which are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in
the event of liquidation. All other components of non-controlling interests are measured at their acquisition date fair values unless
another measurement basis is required by IFRS.
In
cases where the Company held a non-controlling shareholding in the acquiree prior to obtaining control, that interest is measured to
fair value as of the acquisition date. The measurement to fair value is included in profit or loss for the year. Where the existing shareholding
was classified as an available-for-sale financial asset, the cumulative fair value adjustments recognized previously to other comprehensive
income and accumulated in stockholders' equity are recognized in profit or loss as a reclassification adjustment.
Goodwill
is determined as the consideration paid, plus the fair value of any shares held prior to obtaining control, plus non-controlling interest
and less the fair value of the identifiable assets and liabilities of the acquiree. If, in the case of a bargain purchase, the result
of this formula is negative, then the difference is recognized directly in profit or loss.
Goodwill
is not amortized but is tested on an annual basis for impairment. If goodwill is assessed to be impaired, that impairment is not subsequently
reversed.
Common
control business combinations are outside the scope of IFRS 3. The Company has elected to account for common control business combinations
using the book value method.
Significant
judgments and use of estimates
The
preparation of consolidated financial statements in conformity with IFRS requires management, from time to time, to make judgements,
estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income, and expenses.
These estimates and associated assumptions are based on experience and various other factors that are believed to be reasonable under
these circumstances. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.
Critical
judgements in applying accounting policies
Management
did not make critical judgements in the application of accounting policies, apart from those involving estimations, which would significantly
affect the financial statements.
Fair
value estimation
Several
assets and liabilities of the Company are either measured at fair value or disclosure is made of their fair values. Observable market
data is used as inputs to determine fair value, to the extent that such information is available.
F-
10
Cash
and cash equivalents
For
the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash in hand, bank balances and short-term
deposits with original maturity of three months or less.
Restricted
cash
Restricted
cash represents
money that is held at a bank account related to the Company's 2022 convertible
debt and is not available to the company for immediate or general business use. All the restricted cash as of December 31, 2022 was available
to the Company by April 2023.
Inventories
Inventories
are measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course
of business less the estimated costs of completion and the estimated costs necessary to make the sale.
The
cost of inventories comprises of all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their
present location and condition.
The
cost of inventories is assigned using the first-in, first-out (FIFO) formula.
When
inventories are sold, the carrying amount of those inventories are recognized as cost of sales in the period in which the related revenue
is recognized. The amount of any write-down of inventories to net realizable value and all losses of inventories are recognized as an
expense in the period the write-down or loss occurs.
Property
and Equipment
Property
and equipment are tangible assets which the Company holds for its own use, and which are expected to be used for more than one year.
An item of property and equipment is recognized as an asset when it is probable that future economic benefits associated with the item
will flow to the Company, and the cost of the item can be measured reliably. Property and equipment are initially measured at cost. Cost
includes all of the expenditures which are directly attributable to the acquisition or construction of the asset, including the capitalization
of borrowing costs on qualifying assets and adjustments in respect of hedge accounting, where appropriate.
Expenditures
incurred subsequently for major services, additions to or replacements of parts of property and equipment are capitalized if it is probable
that future economic benefits associated with the expenditure will flow to the Company and the cost can be measured reliably. Day-to-day
servicing costs are expensed as incurred. Subsequent to initial recognition, property and equipment are measured at cost less accumulated
depreciation and any accumulated impairment losses.
F-
11
Depreciation
of an asset commences when the asset is available for use as intended by management. Depreciation is charged to write off the asset's
carrying amount over its estimated useful life to its estimated residual value, using a method that best reflects the pattern in which
the asset's economic benefits are consumed by the Company. Depreciation is not charged to an asset if its estimated residual value
exceeds or is equal to its carrying amount. Depreciation of an asset ceases at the earlier of the date that the asset is classified as
held for sale or derecognized.
The
useful lives of items of property and equipment have been assessed as follows:
Category
Depreciation
    Method
Useful
    Life
Buildings
Straight
    line
20 years
Machinery
Straight
    line
5
    years
Furniture
    and fixtures
Straight
    line
5
    years
Motor
    vehicles
Straight
    line
5
    years
Office
    equipment
Straight
    line
5 years
IT
    equipment
Straight
    line
3
–
5 years
Computer
    software
Straight
    line
2
–
8 years
Spa
    equipment, curtains, crockery, glassware, and linen
Straight
    line
5 years
Leasehold
improvements are amortized over the period of the lease or useful lives of the asset, whichever is shorter.
The
residual value, useful life and depreciation method of each asset are reviewed at the end of each reporting year. If the expectations
differ from previous estimates, the change is accounted for prospectively as a change in accounting estimate. The depreciation charge
for each year is recognized in profit or loss unless it is included in the carrying amount of another asset.
An
item of property or equipment is derecognized upon disposal or when no future economic benefits are expected from its continued use or
disposal. Any gain or loss arising from the derecognition of an item of property or equipment, determined as the difference between the
net disposal proceeds, if any, and the carrying amount of the item, is included in profit or loss when the item is derecognized.
Intangible
assets
An
intangible asset is recognized when it is probable that the expected future economic benefits that are attributable to the asset will
flow to the entity and the cost of the asset can be measured reliably. Intangible assets are initially recognized at cost, less any accumulated
amortization and any impairment losses. Changes in the expected useful life or the expected pattern of consumption of future economic
benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and are treated as changes
in accounting estimates. Refer to Note 4 – Business Combination for additional details on
the acquired intangibles.
The useful life of intangible assets has
been assessed as follows:
Category
Useful Life
Customer relationships
5
years
Trade names, trademarks, domain names, and licenses
Indefinite
F-
12
Internally developed software costs on GU are recognized as an intangible asset when:
➢
it
                                            is technologically feasible to complete the asset so that it will be available for use or
                                            sale.
➢
there
                                            is an intention to complete and use or sell it.
➢
there
                                            is an ability to use or sell it.
➢
it
                                            will generate probable future economic benefits.
➢
there
                                            are available technical, financial, and other resources to complete the development and to
                                            use or sell the asset.
➢
the
                                            expenditure attributable to the asset during its development can be measured reliably.
Amortization
begins when development is complete, and the asset is available for use. Development costs are amortized based on a useful life of five
years.
Impairment
of Long-Lived Assets
Impairment
tests are performed on property and equipment when there is an indicator that they may be impaired. When the carrying amount of an item
of property and equipment is assessed to be higher than the estimated recoverable amount, an impairment loss is recognized immediately
in profit or loss to bring the carrying amount in line with the recoverable amount.
For
intangible assets, reassessing the useful life of an intangible asset with a finite useful life after it was classified as indefinite
is an indicator that the asset may be impaired. As a result, the asset is tested for impairment and the remaining carrying amount is
amortized over its useful life.
Management
assesses at each end of the reporting period whether there is any indication that an asset may be impaired. If any such indication exists,
management estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual
asset, the recoverable amount of the cash- generating unit to which the asset belongs is determined.
The
recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs to sell and its value in use. If
the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.
That reduction is an impairment loss. An impairment loss of assets carried at cost less any accumulated depreciation or amortization
is recognized immediately in profit or loss. Any impairment loss of a revalued asset is treated as a revaluation decrease.
Goodwill
acquired in a business combination is, from the acquisition date, allocated to each of the cash- generating units, or groups of cash-generating
units, which are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the
acquiree are assigned to those units or groups of units. An impairment loss is recognized for cash-generating units if the recoverable
amount of the unit is less than the carrying amount of the units. The impairment loss is allocated to reduce the carrying amount of the
assets of the unit in the following order:
➢
first,
                                            to reduce the carrying amount of any goodwill allocated to the cash-generating unit and
➢
then,
                                            to the other assets of the unit, pro rata on the basis of the carrying amount of each asset
                                            in the unit.
An
entity assesses at each reporting date whether there is any indication that an impairment loss recognized in prior periods for assets
other than goodwill may no longer exist or may have decreased. If any such indication exists, the recoverable amounts of those assets
are estimated.
The
increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss does not exceed the carrying
amount that would have been determined had no impairment loss been recognized for the asset in prior periods.
F-
13
A
reversal of an impairment loss of assets carried at cost less accumulated depreciation or amortization other than goodwill is recognized
immediately in profit or loss. Any reversal of an impairment loss of a revalued asset is treated as a revaluation increase.
Financial
Instruments
Financial
instruments held by the Company are classified in accordance with the provisions of IFRS 9 — Financial Instruments. Broadly, the
classification possibilities, which are adopted by the Company, as applicable, are as follows:
Financial
assets which are equity instruments:
➢
Mandatorily
                                            at fair value through profit or loss; or
➢
Designated
                                            as at fair value through other comprehensive income. (This designation is not available to
                                            equity instruments which are held for trading, or which are contingent consideration in a
                                            business combination).
Financial
assets which are debt instruments:
➢
Amortized
                                            cost. (This category applies only when the contractual terms of the instrument give rise,
                                            on specified dates, to cash flows that are solely payments of principal and interest on principal,
                                            and where the instrument is held under a business model whose objective is met by holding
                                            the instrument to collect contractual cash flows); or
➢
Mandatorily
                                            at fair value through profit or loss. (This classification automatically applies to all debt
                                            instruments which do not qualify as at amortized cost or at fair value through other comprehensive
                                            income); or
➢
Designated
                                            at fair value through profit or loss. (This classification option can only be applied when
                                            it eliminates or significantly reduces an accounting mismatch.
Financial
liabilities:
➢
Amortized
                                            cost;
➢
Mandatorily
                                            at fair value through profit or loss. (This applies to contingent consideration in a business
                                            combination or to liabilities which are held for trading); or
➢
Designated
                                            at fair value through profit or loss. (This classification option can be applied when it
                                            eliminates or significantly reduces an accounting mismatch;
➢
the
                                            liability forms part of a group of financial instruments managed on a fair value basis; or
                                            it forms part of a contract containing an embedded derivative and the entire contract is
                                            designated as at fair value through profit or loss).
Trade
and other receivables
Trade
and other receivables, including amounts due from related parties, are classified as financial assets subsequently measured at amortized
cost. They have been classified in this manner because their contractual terms give rise, on specified dates, to cash flows that are
solely payments of principal and interest on the principal outstanding, and the Company's business model is to collect the contractual
cash flows on trade and other receivables.
Trade
and other receivables are recognized when the Company becomes a party to the contractual provisions of the receivables. They are measured,
at initial recognition, at fair value plus transaction costs, if any and are subsequently measured at amortized cost. The amortized cost
is the amount recognized on the receivable initially, minus principal repayments, plus cumulative amortization (interest) using the effective
interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.
F-
14
A
loss allowance for expected credit losses is recognized on trade and other receivables and is updated at each reporting date. The Company
measures the loss allowance for trade and other receivables at an amount equal to lifetime expected credit losses (lifetime ECL), which
represents the expected credit losses that will result from all possible default events over the expected life of the receivable.
A
provision matrix is used as a practical expedient to the determination of expected credit losses on trade and other receivables. The
provision matrix is based on the Company's historic credit loss experience, adjusted for factors that are specific to the debtors,
general economic conditions, and an assessment of both the current and forecasted direction of conditions at the reporting date, including
the time value of money, where appropriate.
The
loss allowance is calculated on a collective basis for all trade and other receivables in totality. An impairment gain or loss is recognized
in profit or loss with a corresponding adjustment to the carrying amount of trade and other receivables, through use of a loss allowance
account. The impairment loss is included in operating expenses as a movement in credit loss allowance.
Receivables
are written off when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic
prospect of recovery, e.g., when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Receivables
written off may still be subject to enforcement activities under the Company's recovery procedures, considering legal advice where
appropriate. Any recoveries made are recognized in profit or loss.
Investments
in equity instruments
Investments
in equity instruments are presented in Note 11, Investments at Fair Value. Investments in equity instruments are designated as mandatorily
at fair value through profit or loss. As an exception to this classification, the Company may make an irrevocable election, on an instrument-by-instrument
basis, and on initial recognition, to designate certain investments in equity instruments as at fair value through other comprehensive
income. The designation as at fair value through other comprehensive income is never made on investments which are either held for trading
or contingent consideration in a business combination.
Investments
in equity instruments are recognized when the Company becomes a party to the contractual provisions of the instrument. The investments
are measured, at initial recognition, at fair value. Transaction costs are added to the initial carrying amount for those investments
which have been designated as at fair value through other comprehensive income. All other transaction costs are recognized in profit
or loss.
Investments
in equity instruments are subsequently measured at fair value with changes in fair value recognized either in profit or loss or in other
comprehensive income (and accumulated in equity in the reserve for valuation of investments), depending on their classification. Fair
value gains or losses recognized on investments at fair value through profit or loss are included in other operating gains (losses).
Dividends
received on equity investments are recognized in profit or loss when the Company's right to receive the dividends is established
unless the dividends clearly represent a recovery of part of the cost of the investment. Dividends are included in investment income.
Investments
in equity instruments are subject to impairment provisions.
The
gains or losses which accumulated in equity in the reserve for valuation of investments for equity investments at fair value through
other comprehensive income are not reclassified to profit or loss on derecognition of the related investment. Instead, the cumulative
amount is transferred directly to retained earnings.
F-
15
Trade
and other payables
Trade
and other payables, excluding VAT and amounts received in advance, are classified as financial liabilities subsequently measured at amortized
cost. They are recognized when the Company becomes a party to the contractual provisions, and are measured, at initial recognition, at
fair value plus transaction costs, if any, and are subsequently measured at amortized cost using the effective interest method. The effective
interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant
period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points
paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through
the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.
If
trade and other payables contain a significant financing component, and the effective interest method results in the recognition of interest
expense, then it is included in profit or loss. Trade and other payables expose the Company to liquidity risk and possibly to interest
rate risk. Refer to Note 30, Financial Risk Management, for details of risk exposure and management thereof.
Loans
payable and convertible debt
Loans
payable are recognized when the Company becomes a party to the contractual provisions of the loan and are classified as financial liabilities
subsequently measured at amortized cost.
The
loans are measured, at initial recognition, at fair value plus transaction costs, if any, and are subsequently measured at amortized
cost using the effective interest method. Interest expense, calculated on the effective interest method, is included in profit or loss.
Borrowings expose the Company to liquidity risk. Refer to Note 30, Financial Risk Management, for details of risk exposure and management
thereof.
Convertible
debt is bifurcated into its liability component and equity or derivative liability component at the date of issue, in accordance with
the substance of the debt agreements. Conversion options that are bifurcated as derivative liabilities are recorded as a debt discount,
which is amortized over the term of the related debt. Derivative liabilities are recorded at fair value at issuance and are marked-to-market
at each statement of financial position date.
Income
taxes
Current
income taxes
Current
income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid
to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted
at the reporting date.
Current
income taxes are recognized in profit or loss except to the extent that the tax relates to items recognized outside profit or loss, either
in other comprehensive income or directly in equity. Management evaluates positions taken in the tax returns with respect to situations
in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.
Deferred
taxes
A
deferred tax asset or liability is recognized for all taxable temporary differences, except to the extent that the deferred tax asset
or liability arises from the initial recognition of an asset or liability in a transaction which at the time of the transaction, affects
neither accounting profit nor taxable profit (tax loss).
A
deferred tax asset is recognized for all deductible temporary differences to the extent that it is probable that taxable profit will
be available against which the deductible temporary difference can be utilized. A deferred tax asset is recognized for the carry forward
of unused tax losses and unused Secondary Tax on Companies ("STC") credits to the extent that it is probable that future
taxable profit will be available against which the unused tax losses and unused STC credits can be utilized.
Deferred
tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability
is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
F-
16
Current
and deferred taxes are recognized as income or an expense and included in profit or loss for the period, except to the extent that the
tax arises from:
➢
a
                                            transaction or event which is recognized, in the same or a different period, to other comprehensive
                                            income, or
➢
a
                                            business combination.
Current
tax and deferred taxes are charged or credited to other comprehensive income if the tax relates to items that are credited or charged,
in the same or a different period, to other comprehensive income.
Current
tax and deferred taxes are charged or credited directly to equity if the tax relates to items that are credited or charged, in the same
or a different period, directly in equity.
Leases
The
Company accounts for its various operating leases in accordance with IFRS 16, Leases ("IFRS 16'). Management assesses whether
a contract is or contains a lease at the inception of the contract. A contract is or contains a lease if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.
In
order to assess whether a contract is or contains a lease, management determines whether the asset under consideration is "identified",
which means that the asset is either explicitly or implicitly specified in the contract and that the supplier does not have a substantial
right of substitution throughout the period of use. Once management has concluded that the contract includes an identified asset, the
right to control the use thereof is considered. To this end, control over the use of an identified asset only exists when the Company
has the right to substantially all of the economic benefits from the use of the asset as well as the right to direct the use of the asset.
Pursuant
to IFRS 16, a lease liability and corresponding right-of-use asset are recognized at the lease commencement date for all lease agreements
for which the Company is a lessee. Details of leasing arrangements where the Company is a lessee are presented in Note 10, Right of Use
Asset and Lease Liability.
Right-of-use
assets
Right-of-use
assets are presented as a separate line item on the consolidated statement of financial position. Lease payments included in the measurement
of the lease liability comprise the following:
➢
the
                                            initial amount of the corresponding lease liability;
➢
any
                                            lease payments made at or before the commencement date;
➢
any
                                            initial direct costs incurred;
➢
any
                                            estimated costs to dismantle and remove the underlying asset or to restore the underlying
                                            asset or the site on which it is located, when the Company incurs an obligation to do so,
                                            unless these costs are incurred to produce inventories; and
➢
less
                                            any lease incentives received.
Right-of-use
assets are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over
the shorter period of lease term and useful life of the underlying asset. However, if a lease transfers ownership of the underlying asset
or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset
is depreciated over the useful life of the underlying asset. Depreciation starts at the commencement date of a lease.
For
right-of-use assets which are depreciated over their useful lives, the useful lives are determined consistently with items of the same
class of property and equipment. Refer to the accounting policy for property and equipment for details of useful lives.
The
residual value, useful life and depreciation method of each asset are reviewed at the end of each reporting year. If the expectations
differ from previous estimates, the change is accounted for prospectively as a change in accounting estimate. Each part of a right-of-use
asset with a cost that is significant in relation to the total cost of the asset is depreciated separately. The depreciation charge for
each year is recognized in profit or loss unless it is included in the carrying amount of another asset.
F-
17
Lease
liability
The
lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted
by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate.
Lease
payments included in the measurement of the lease liability comprise the following:
➢
fixed
                                            lease payments, including in-substance fixed payments, less any lease incentives;
➢
variable
                                            lease payments that depend on an index or rate, initially measured using the index or rate
                                            at the commencement date;
➢
the
                                            amount expected to be payable by the Company under residual value guarantees;
➢
the
                                            exercise price of purchase options if the Company is reasonably certain to exercise the option;
➢
lease
                                            payments in an optional renewal period if the Company is reasonably certain to exercise an
                                            extension option, and
➢
penalties
                                            for early termination of a lease if the lease term reflects the exercise of an option to
                                            terminate the lease.
Management
remeasures the lease liability when:
➢
there
                                            has been a change to the lease term, in which case the lease liability is remeasured by discounting
                                            the revised lease payments using a revised discount rate;
➢
there
                                            has been a change in the assessment of whether the Company will exercise a purchase, termination,
                                            or extension option, in which case the lease liability is remeasured by discounting the revised
                                            lease payments using a revised discount rate;
➢
there
                                            has been a change to the lease payments due to a change in an index or a rate, in which case
                                            the lease liability is remeasured by discounting the revised lease payments using the initial
                                            discount rate (unless the lease payments change is due to a change in a floating interest
                                            rate, in which case a revised discount rate is used);
➢
there
                                            has been a change in expected payment under a residual value guarantee, in which case the
                                            lease liability is remeasured by discounting the revised lease payments using the initial
                                            discount rate;
➢
a
                                            lease contract has been modified and the lease modification is not accounted for as a separate
                                            lease, in which case the lease liability is remeasured by discounting the revised payments
                                            using a revised discount rate.
When
the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of- use asset or
is recognized in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
Contributed
capital and equity
Contributed
capital represents the aggregate shareholder investment in the Company.
Non-controlling
interest represents the portion of comprehensive income (loss) and net assets attributable to minority shareholders. Non-controlling
interest is identified in the consolidated statements of operations and under equity in the consolidated statements of financial position.
F-
18
Revenue
from contracts with customers
The
Company recognizes revenue from the following major sources:
➢
Digital
                                            education platform
➢
In
                                            person education courses
➢
Sales
                                            of goods — retail
➢
Service
                                            revenue
Revenue
is measured based on the consideration to which the Company expects to be entitled in exchange for transferring promised goods or services
to a customer, excluding amounts collected on behalf of third parties. Revenue is recognized when the Company satisfies a performance
obligation by transferring a promised good or service to the customer, which is when the customer obtains control of the good or service.
A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognized is the amount allocated to
the satisfied performance obligation.
A
detailed analysis of performance obligations for each revenue source follows.
Digital
education platform and multi-part documentaries
This
revenue is derived from online workshops, training programs, assessments, courses, accreditations certifications, licenses, and documentaries
provided by both the Company itself and by partners, as well as memberships. Revenue is derived, and performance obligations are fulfilled,
over the course of delivery of the product or service, which may be at the time of sale or may be monthly for up to twelve months. The
company is compensated by way of fees for the product or service as displayed at events or online.
In
person education courses
This
revenue is derived from classes, workshops, training programs and conferences that are delivered in person at the Company's campuses
or third-party venues. Revenue is derived, and performance obligations are fulfilled, at the time of delivering the event or over the
course of delivery of the product or services. The company is compensated by way of course fees as displayed at events or online.
Sales
of goods — retail
This
revenue is derived by the Company's campus businesses and includes food and beverage, spa products, merchandise, and ancillary
products. Revenue is derived, and performance obligations are fulfilled, at the point in time of providing the goods; in the case of
food and beverage delivered as part of a pre-paid accommodation package, revenue is recognized daily over the time of guests' duration
of stay. The company is compensated based on the advertised or agreed price of the goods as part of accommodation packages or on in-house
menus in the case of food and beverage, and on in-house price lists or price tickets in the case of spa products, merchandise, and ancillary
products.
Service
revenue
This
revenue is derived by the Company's campus businesses and includes accommodation, spa, conferences and events, and memberships.
Revenue is derived, and performance obligations are fulfilled, at the time of providing the services; in the case of accommodation as
part of a pre-paid booking, revenue is recognized daily over the time of guests' duration of stay, and for memberships revenue
is recognized monthly over the course of delivery of the product or service which may be up to twelve months. The company is compensated
based on the advertised or agreed price of the goods as displayed online by the company or booking agents in the case of accommodation,
on in-house price lists in the case of spa, by tailored quote in the case of conferences and events, and as displayed in-house or online
in the case of memberships.
F-
19
Deferred
revenue
The
timing of the Company's revenue recognition may differ from the timing of payment by its customers. A contract asset (accounts
receivable) is recorded when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively,
when payment precedes the provision of the related services, the Company records a contract liability (deferred revenue) until the performance
obligations are satisfied.
Deferred
revenue represents the Company's contract liability for cash collections received from its customers in advance of performance
under the contract. Deferred revenue is recognized as revenue upon completion of the performance obligation, which generally occurs within
one year.
As
of December 31, 2022, the Company had deferred revenue for remaining unsatisfied performance obligations of $
6,391,993
(2021: $
2,561,912
),
which is expected to be recognized within one year.
During
the year ended December 31, 2022, the Company recognized revenue of $
2,349,941
(2021: $
758,794
) that was included in the deferred revenue
balance at the beginning of the period.
Borrowing
costs
Coupon
interest is recognized in the period in which it is incurred, while other borrow costs (debt discount) are amortized to interest expense
over the expected term of the notes using the interest method.
Foreign
currency transactions
The
Company's reporting currency is the U.S. dollar. The functional currencies of the Genius Group and its subsidiaries are their local
currencies (Singapore dollar, British pound, Indonesian rupiah and South African Rand, New Zealand Dollar) and the functional currency
of ERL, UAV and RF is the U.S. dollar. The Company engages in foreign currency denominated transactions with customers and suppliers,
as well as between subsidiaries with different functional currencies. Gains and losses resulting from transactions denominated in non-functional
currencies are recognized in earnings.
At
the end of the reporting period, assets and liabilities are translated into U.S. dollars using the exchange rate at the balance sheet
date and revenue and expense accounts are translated at a weighted average exchange rate for the period or for the year then ended. Resulting
translation adjustments are made directly to accumulated other comprehensive income.
Exchange
differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they
were translated on initial recognition during the period, or in previous consolidated financial statements, are recognized in profit
or loss in the period in which they arise.
When
a gain or loss on a non-monetary item is recognized to other comprehensive income and accumulated in equity, any exchange component of
that gain or loss is recognized to other comprehensive income and accumulated in equity. When a gain or loss on a non-monetary item is
recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss. Cash flows arising from transactions
in a foreign currency are recorded in U.S. dollars by applying to the foreign currency amount the exchange rate between the U.S. dollar
and the foreign currency at the date of the cash flow.
Stock-based
compensation
For
service-based awards, compensation expense is measured at the grant date based on the fair value of the award and is recognized on a
straight-line basis over the requisite service period, which is typically the vesting period.
F-
20
Restatement
of previously issued financial statements
The
Company's Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2021, has been restated
for errors made with regard to revenue recognition and the reporting of gross vs. net revenue.
During
December, 2022, the Company updated its revenue recognition policy memo and uncovered an error in the implementation of accounting treatment
for certain revenue recognition transactions with a third-party sales partner. The Company evaluated the materiality of this inaccurate
accounting treatment, considering both quantitative and qualitative factors in accordance with SAB 99. The Company believes a restatement
is necessary due to its review of the relevant factors. In accordance with IFRS, the restatement records revenue and expense net for
2021 sales transactions where the Company was not the clear principle in the transaction. As a result, the restatement will decrease
revenue by $
4,483,458
, with corresponding decrease in cost of revenue by $
4,483,458
. There were no restatements to the
Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows, Consolidated Statement of Changes in Stockholders'
Equity, earnings per share, gross profit, or net loss.
The
Company made restatements in the Consolidated Statement of Operations and Comprehensive Income related to revenues and cost
of revenue with a third-party sales partner. The changes are in revenue and cost of revenue and have been restated from
a gross presentation to a net presentation, please see the table below:
For the year ended December 31, 2021
Audited
Restatements
Restated
Revenue
$
12,778,262
$
(
4,483,458
)
$
8,294,804
Cost of Revenue
(
10,020,804
)
4,483,458
(
5,537,346
)
Gross Profit
$
2,757,458
$
—
$
2,757,458
NOTE
3 —
RECENT ACCOUNTING PRONOUNCEMENTS
Recently
    Adopted Accounting Standards
Effective
    for periods beginning on or after
Amendments
    to IFRS 3 Reference to the Conceptual Framework Relating to Business Combinations
January
    1, 2022
Amendments
    to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract
January
    1, 2022
Annual
    Improvements to IFRS Standards 2018-2021
January
    1, 2022
Amendments
    to IAS 16 Property, Plant and Equipment – Proceeds before Intended Use
January
    1, 2022
The
Company's adoption of the standards above had no material impact on the consolidated financial statements in the year of initial
application.
F-
21
Recent
    Accounting Standards Not Yet Adopted
Effective
    for periods beginning on or after
Amendments
    to IAS 1 Classification of Liabilities as Current or Non-current
January
    1, 2023
Amendments
    to IFRS 17 Insurance Contracts
January
    1, 2023
Amendments
    to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
January
    1, 2023
Amendments
    to IAS 12 Income Taxes
January
    1, 2023
The
Company expects that the adoption of the standards above will have no material impact on the consolidated financial statements in the
year of initial application.
NOTE
4 —
BUSINESS COMBINATIONS
During 2022, the Company acquired Education
Angels, University of Antelope Valley, E-Squared Education, Property and Mastermind Networks Limited and Revealed Films. The Company used
the income approach for the valuation of the acquired intangible assets, the contingent consideration and the options issued.
To account for the acquisition intangibles
the Company used the following valuation methods:
Trade Names, Trademarks, Domain Names
and Licenses: In determining the fair values a present value technique known as the relief-from-royalty method was used. The premise
of this valuation method is that if the trade names, trademarks, domain names, and licenses were licensed to an unrelated party, the
unrelated party would pay a percentage of revenue for use of the them. The trade names, trademarks, domain names, and license owner
is, however, spared this cost. The present value of these cost savings over time, or relief from royalty, represents the
value.
Customer Relationships: The fair value
of the customer relationships was determined utilizing a present value technique involving a discounted cash flow analysis. This method
is based on the notion that the value of a customer contract and related customer relationship is equal to the incremental after-tax
cash flows attributable to the customer contract and related customer relationship after deductions and charges for the economic return
on contributory assets such as working capital, fixed assets and other identifiable intangible assets such as an assembled workforce
To account for the Options and Top Up Consideration
for the acquisitions the Company used the following valuation methods:
Top Up Consideration (excluding Revealed
Films) and the Call Option: The fair values of each was determined utilizing monte carlo simulations to simulate
the potential payoffs. A monte carlo simulation is a problem solving technique used to approximate the probability of certain
outcomes by running multiple trial runs, called simulations, using random variables.
Put Option: The fair value of the
put option was determined using a closed-form option pricing model commonly referred to as the Black-Scholes option pricing model.
Revealed Films Top Up Consideration: The fair value was determined utilizing
a present value technique involving a discounted cash flow analysis.
Genius
Group Ltd.'s Acquisition of Education Angels
On
April 30, 2022, Genius Group Ltd acquired
100
% of the voting equity interest of Education Angels for $
1,918,700
of purchase consideration,
made up of
333,687
of Genius Group Ltd ordinary shares. Education Angels operates in New Zealand and provides early education learning
services in New Zealand. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options.
Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Education Angels at acquisition.
Amount
Purchase
    Price
Value of shares
$
1,918,700
Less: acquired cash
(
26,940
)
Purchase
                                            price, net of acquired cash
1,891,760
Prepaid
    expenses and other current assets
(
113,413
)
Fixed
    assets
(
69,637
)
Intangible assets
(
1,640,000
)
Accounts payable, accrued expenses and other liabilities
804,842
Deferred tax liability
549,718
Goodwill
$
1,423,270
The
acquired intangible assets are as follows
Amount
Trade names, trademarks, domain names and licenses
$
1,640,000
F-
22
Genius
Group Ltd.'s Acquisition of Property Investors Network
On
April 30, 2022, Genius Group Ltd acquired
100
%
of the voting equity interest of Property Investors Network, and its wholly owned subsidiaries, for $
29,655,000
of purchase consideration, made up of
2,959,518
of Genius Group Ltd ordinary shares for $
17,017,000
,
$
1,837,000
in cash, $
701,000
in top up consideration payable if the 2x revenue or 10x EBITDA in 2022, 2023 or 2024 exceeds the purchase
price or the previous year's consideration;
the difference between the value will be paid in additional consideration by 90% in
shares and 10% in cash and $
10,100,000
in call options.
The company has issued a call option to the seller of Property Investors
Network which allows the seller to exercise the call option to repurchase the company from the buyer, if the value of Company's
shares held by the seller is below GBP
10.2
million. The validity of such option is one year from the first anniversary of the acquisition
close date. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options. Property Investors Network is a United Kingdom based entity which delivers events
and education programs to the property investors.
Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Property Investors network at acquisition.
Amount
Purchase
    price
Value of shares
$
17,017,000
Cash
1,837,000
Top-up share options
701,000
Call / Put option
10,100,000
Total purchase price
29,655,000
Less: acquired cash
(
347,952
)
Purchase
    price, net of acquired cash
29,307,048
Accounts receivable
(
461,249
)
Prepaid expenses and other
    current assets
(
6,111,957
)
Fixed assets
(
24,994
)
Intangible assets
(
4,980,000
)
Accounts payable, accrued
    expenses and other liabilities
2,833,718
Deferred tax liability
1,171,555
Goodwill
$
21,734,121
The acquired
intangible assets are as follows
Amount
Trade
    names, trademarks, domain names and licenses
$
4,900,000
Customer
    relationship
80,000
Total
$
4,980,000
Genius
Group Ltd.'s Acquisition of E-Square
On
May 31, 2022, Genius Group Ltd acquired
100
%
of the voting equity interest of E-Square, and its wholly owned subsidiaries, for $
3,845,000
of purchase consideration, made up of
328,236
of Genius Group Ltd ordinary shares for $
2,692,000
,
$
403,000
in cash, loans payable of $
299,000
,
and $
451,000
in put option. The company has also issued a put option to the seller of E-Squared Enterprises Ltd which allows the seller to
exercise the put option and repurchase the company from the buyer, if the Company's shares trade below $
5.81
($
34.87
pre-split) at any given point of time from the date of commencement to two years. The Company has agreed to pay top up consideration
for the year 2022 and 2023 for the positive difference between 2x annual revenue or 10x EBITDA for the financial year minus the
hurdle amount which is the revenue or EBITDA for the previous year. The value of top up consideration is zero as of the acquisition
date. Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair value of earn
outs, and the fair value of options. E-Square operates as a primary school, secondary school, and vocational college provider in
South Africa.
Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
E-Square at acquisition.
Amount
Purchase price
Value of shares
$
2,692,000
Cash
403,000
Deferred payment
299,000
Call / Put option
451,000
Total purchase price
3,845,000
Less: acquired cash
(
262,518
)
Purchase price, net of acquired cash
3,582,482
Accounts receivable
(
178,081
)
Prepaid expenses and other current assets
(
31,242
)
Fixed assets
(
272,348
)
Intangible assets
(
100,000
)
Accounts payable, accrued expenses and other liabilities
722,275
Deferred tax
liability
37,838
Goodwill
$
3,760,924
The
acquired intangible assets are as follows
Amount
Trade names, trademarks, domain names and licenses
$
100,000
Total
$
100,000
F-
23
Genius
Group Ltd.'s Acquisition of University of Antelope Valley
On
July 7, 2022, Genius Group Ltd acquired
100
%
of the voting equity interest of University of Antelope Valley for $
14,487,000
of purchase consideration, made up of
1,000,000
of Genius Group Ltd ordinary shares for $
6,470,000
,
$
7,000,000
of cash and $
1,017,000
in top up consideration. The top up consideration requires that within seven days after Genius Group files its tax return for the years 2022, 2023 and 2024, the
Company and the seller will review the total revenue for the respective years. If the amount of University of Antelope Valley total revenue
in 2022, 2023 and 2024 is an increase over $
9,000,000
or the subsequent year's total revenue, then the Company shall pay to the seller
additional cash consideration in an amount equal to: (a) The 2022, 2023 or 2024 total revenue less the higher of either $
9,000,000
or
the previous year's total revenue, (b) multiplied by two, (collectively over the three year period). The consideration is
payable in cash. The Company utilized an independent third-party to determine the fair value of the acquired intangible assets, fair
value of earn outs, and the fair value of options. University of Antelope Valley delivers its certification and degree programs to the
students who physically enroll at their location in Lancaster, California.
Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
University of Antelope Valley at acquisition.
Amount
Purchase price
Value of shares
$
6,470,000
Cash
7,000,000
Top-up share options
1,017,000
Total purchase price
14,487,000
Less: acquired cash
(
1,620,734
)
Purchase price, net of acquired cash
12,866,266
Accounts receivable
(
3,082,589
)
Prepaid expenses and other current assets
(
492,404
)
Fixed assets
(
1,051,934
)
Accounts payable, accrued expenses and other liabilities
1,935,533
Goodwill
$
10,174,872
Genius
Group Ltd.'s Acquisition of Revealed Films
On
October 4, 2022, Genius Group Ltd acquired
100
%
of the voting equity interest of Revealed Films for $
20,380,397
of purchase consideration, made up of
1,353,966
of Genius Group Ltd ordinary shares for $
7
million, $
1
million in cash, $
2
million of loans payable and $
10,380,397
in top up consideration payable upon achieving the pre-agreed milestones. The loans payable of $
2
million was paid to the sellers during Q1 2023.
The Company has agreed to pay top up consideration of 1.5X the difference between the revenue in 2023, 2024 and 2025 if the revenue growth
is higher than $7 million and a profit of at least 7%. The revenue growth is calculated as revenue during the year minus $7 million or
previous year's revenue if the target was met.
The acquisition of Revealed Films occurred in the 4th
quarter of the year and the valuation will be reviewed and finalized by an independent third-party in the first half of 2023.
Revealed Films is a film production company based in Utah.
F-
24
Below
is a summary of the preliminary allocation of the purchase consideration to the fair value of the assets and liabilities associated with
Revealed Films at acquisition.
Amount
Purchase price
Value of shares
$
7,000,000
Cash
1,000,000
Deferred payment
2,000,000
Top-up share options
10,380,397
Total purchase price
20,380,397
Less: acquired cash
(
145,532
)
Purchase price, net of acquired cash
20,234,865
Accounts receivable
(
152,920
)
Prepaid expenses and other current assets
(
745,521
)
Goodwill
(
1,008,694
)
Intangible assets
(
8,884,000
)
Accounts payable, accrued expenses and other liabilities
1,660,727
Deferred tax liability
2,202,088
Goodwill
$
13,306,545
The
acquired intangible assets are as follows
Amount
Customer relationship
8,884,000
NOTE 5 —
OTHER RECEIVABLES
As of December 31,
2022
2021
Other receivables (Short term)
GST receivable
$
64,254
$
—
Due from utility companies
45,570
$
—
Other
10,480
66,000
Other receivables (short term)
$
120,304
$
66,000
Other receivables (Long term)
PJ Finn
$
718,198
$
—
Richard Evans
14,518
—
Other Receivables (long term)
$
732,716
$
—
$
853,020
$
66,000
NOTE
6 —
DUE FROM RELATED PARTY
Due
from related parties as of December 31, 2022 and 2021 represents amounts receivable from related entities of
the Company. The receivables are unsecured, bear no interest and are due on demand. The due from related parties (Long term) are recoverable within average life of three years.
As
    of December 31,
2022
2021
Due
    from related parties (Short term)
Accounts
    Receivable – Shareholders
$
60,280
$
20,550
Due
    from MSJ Foundation
102,356
—
Others
188,721
23,695
Total
    due from related parties (short term)
$
351,357
$
44,245
Due
    from related parties (Long term)
BMV
    Finance
$
1,973,144
$
—
Simon
    Zutshi
1,268,094
—
BG3
    Ltd.
703,743
—
Zutshi
    LLP
380,121
—
Vision1
    Investments
279,845
—
Crowd
    Property
260,124
—
Throckley
208,998
—
Others
98,187
—
Property
    Mastermind International
116,008
—
Total
    due from related parties (long term)
$
5,288,264
$
—
$
5,639,621
$
44,245
F-
25
NOTE
7 —
INVENTORIES
As
of December 31, 2022, and 2021 inventories consist of:
As
    of December 31,
2022
2021
Movie
    production costs
$
648,337
$
—
Books
    and periodicals
258,497
—
Food
    and beverage
48,677
38,500
Merchandise
45,350
51,777
Consumables
1,116
2,253
$
1,001,977
$
92,530
NOTE
8 —
PREPAID EXPENSES AND OTHER CURRENT ASSETS
As
of December 31, 2022, and 2021, prepaid expenses and other current assets consist of:
As
    of December 31,
2022
2021
Prepaid
    expenses
$
798,140
$
3,349,990
Deposits
165,868
59,925
Other
    current assets
126,779
80,531
Total
$
1,090,787
$
3,490,446
NOTE
9 —
PROPERTY AND EQUIPMENT
Property
and equipment consist of the following as of December 31, 2022, and 2021:
2022
2021
Accumulated
Carrying
Accumulated
Carrying
Cost
Depreciation
Impairment
Value
Cost
Depreciation
Value
Land
$
1,486,718
$
—
$
(
1,486,718
)
$
—
$
1,486,718
$
—
$
1,486,718
Buildings
4,541,374
(
1,289,314
)
(
3,252,060
)
—
4,401,241
(
989,085
)
3,412,156
Leasehold
    property
5,136,738
(
2,999,931
)
(
2,134,654
)
2,153
4,261,623
(
2,770,810
)
1,490,813
Plant
    and machinery
147,887
(
92,197
)
(
55,690
)
—
136,692
(
87,050
)
49,642
Furniture
    and fixtures
647,046
(
385,473
)
(
108,736
)
152,837
537,964
(
330,476
)
207,488
Motor
    vehicles
384,643
(
319,993
)
(
12,808
)
51,842
320,103
(
281,587
)
38,516
Office
    equipment
99,739
(
29,726
)
(
7,975
)
62,038
26,287
(
19,528
)
6,759
IT
    equipment
142,100
(
113,795
)
(
3,589
)
24,716
113,790
(
88,274
)
25,516
Computer
    equipment
53,661
(
14,780
)
—
38,881
4,456
(
4,456
)
—
Programs
    and textbooks
16,594
—
—
16,594
—
—
—
Spa
    equipment, curtains, crockery, glassware, and linen
487,980
(
228,636
)
(
45,274
)
214,070
255,434
(
196,926
)
58,508
$
13,144,480
$
(
5,473,845
)
$
(
7,107,504
)
$
563,131
$
11,544,308
$
(
4,768,192
)
$
6,776,116
F-
26
Reconciliation
of property and equipment — 2022
Opening
    Balance
Additions
    (Acquisitions)
Additions
Disposals
Translation
Depreciation
Impairment
Closing
    Balance
Land
$
1,486,718
$
—
$
—
$
—
$
—
$
—
$
(
1,486,718
)
$
—
Buildings
3,412,156
147,296
—
—
(
7,164
)
(
300,228
)
(
3,252,060
)
—
Leasehold property
1,490,813
798,702
76,873
—
(
460
)
(
229,121
)
(
2,134,654
)
2,153
Plant and machinery
49,642
—
11,195
—
—
(
5,147
)
(
55,690
)
—
Furniture and fixtures
207,488
16,083
92,849
—
150
(
54,997
)
(
108,736
)
152,837
Motor vehicles
38,516
66,244
—
(
1,163
)
(
541
)
(
38,406
)
(
12,808
)
51,842
Office equipment
6,759
50,955
22,496
—
—
(
10,197
)
(
7,975
)
62,038
IT equipment
25,516
24,721
—
—
3,588
(
25,520
)
(
3,589
)
24,716
Computer equipment
—
47,071
3,907
—
(
1,772
)
(
10,325
)
—
38,881
Programs and textbooks
—
16,594
—
—
—
—
—
16,594
Spa
    equipment, curtains, crockery,
glassware and linen
58,508
253,219
15,360
—
(
36,033
)
(
31,710
)
(
45,274
)
214,070
$
6,776,116
$
1,420,885
$
222,680
$
(
1,163
)
$
(
42,232
)
$
(
705,651
)
$
(
7,107,504
)
$
563,131
Reconciliation
of property and equipment — 2021
Opening
    Balance
Additions
Translation
Depreciation
Closing
    Balance
Land
$
1,486,718
$
—
$
—
$
—
$
1,486,718
Buildings
3,950,627
—
(
215,291
)
(
323,180
)
3,412,156
Leasehold
    Property
1,655,128
—
9,777
(
174,092
)
1,490,813
Plant
    & Machinery
84,685
9,981
(
37,427
)
(
7,597
)
49,642
Furniture
    and Fixtures
189,373
65,127
(
6,558
)
(
53,570
)
207,488
Motor
    Vehicles
93,325
—
(
21,803
)
(
33,006
)
38,516
Office
    Equipment
10,435
2,688
—
(
6,364
)
6,759
IT
    Equipment
32,989
—
—
(
7,473
)
25,516
Spa
    Equipment, curtains, crockery, glassware and linen
93,710
—
—
(
35,202
)
58,508
$
7,596,990
$
77,797
$
(
258,186
)
$
(
640,485
)
$
6,776,116
F-
27
NOTE
10 —
RIGHT OF USE ASSET AND LEASE LIABILITY
Net
carrying amounts of right-of-use assets
The
carrying amounts of right-of-use assets are as follows:
As
    of December 31,
2022
2021
Right
    of use asset – Buildings
$
2
,541,123
$
1,378,312
Right of use asset – Buildings (related party)
11,149,101
-
Right
    of use asset – Leasehold
992,410
992,410
Right
    of use asset – Office space
58,412
58,412
Foreign
    currency translation
(
119,182
)
(
117,959
)
Accumulated
    depreciation of right of use assets
(
1,723,114
)
(
1,233,934
)
Accumulated depreciation of right of use assets (related party)
(
325,040
)
-
$
12,573,710
$
1,077,241
During
the year ended December 31, 2022, the Company recorded depreciation of right-of-use assets of $
814,220
(2021 — $
507,688
).
During July 2022, the Company signed two
lease agreements for University of Antelope Valley's buildings with the former owners, a related party, both with
12
-year terms. A right of use
asset and a lease liability of $
11,149,101
was booked to the Consolidated Statements of Financial Condition for the leases.
Lease
liabilities
The
maturity analysis of lease liabilities is as follows:
As
    of December 31,
2022
2021
Within
    one year
$
1,664,966
$
436,270
Two
    to five years
6,280,716
298,594
Thereafter
17,871,937
9,007,645
25,817,619
9,742,509
Less:
    Finance Charges component
(
12,832,744
)
(
8,411,649
)
$
12,984,875
$
1,330,860
Lease
    liabilities – Current
$
1,590,538
$
436,271
Lease
    liabilities - Non-Current
11,394,337
894,589
$
12,984,875
$
1,330,860
The
weighted average discount rate utilized to calculate the present value of the lease liabilities was
7.71
%. The average remaining life of the leases is
22 years
.
F-
28
NOTE
11 —
INVESTMENTS AT FAIR VALUE
As
of December 31, 2022, and 2021, investments at fair value consist of:
As
    of December 31,
2022
2021
Investments
    in YouGo World
$
28,698
$
28,698
Others
373
371
$
29,071
$
29,069
On
September 11, 2017, the Company entered into an agreement to purchase a
2.5
% interest in YouGo World ltd., a start-up company focusing
on mixed reality platforms, content, and services.
NOTE
12 —
GOODWILL
Changes
in goodwill are as follows during the years ended December 31, 2022 and 2021:
Balance
    as of December 31, 2020
$
1,209,953
Additions
    - Foreign currency translation
110,147
Balance
    as of December 31, 2021
1,320,100
Less:
    Foreign currency translation
(
113,150
)
Additions
    - Goodwill on new acquisitions
50,399,733
Less:
    Impairment
(
20,053,893
)
Less: Goodwill tax adjustment
136,097
$
31,688,887
Goodwill
is allocated to the Company's cash-generating units. The recoverable amounts of these cash- generating units have been
determined based on value in use calculations. Other assumptions included in value in use calculations are closely linked to
entity-specific key performance indicators. Based on the discounted cash flows of the cash generating units, the Company wrote off
$
20.1
million as of December 31, 2022. The cash generating units impaired were Property Investors Network of $
5.8
million, University of Antelope Valley of $
10.4
million, E-Squared Education of $
2.3
million and Entrepreneurs Resort Ltd of $
1.6
million due to a decrease in the fair value of the subsidiary based on a discounted cash flow model. See Note 4 — Business
Combinations for additional details related to goodwill.
NOTE
13 —
INTANGIBLE ASSETS
The
Company's intangible assets consist of costs incurred in connection with the development of the Company's digital education
software platform, the acquisition of customer relationships and trademarks.
F-
29
A
reconciliation of intangible assets for the years ended December 31, 2022 and 2021 are as follows:
Balance
    as
of
December 31,
2021
Software
Development
Additions
Acquisition of
Intangibles
Amortization
Expense
Impairment
Foreign
Currency
Translation
Balance
    as
of
December 31,
2022
GeniusU
    software platform
$
2,811,496
$
743,995
$
—
$
—
$
(
1,084,613
)
$
—
$
2,470,878
Trade names, trademarks and domain names
13,234
—
6,919,356
—
—
355
6,932,945
Customer Relationship
—
8,964,000
(
321,832
)
—
8,642,168
Accumulated
    amortization
(
1,429,761
)
—
—
(
508,937
)
—
—
(
1,938,698
)
Net
    carrying value
$
1,394,969
$
743,995
$
15,883,356
$
(
830,769
)
$
(
1,084,613
)
$
355
$
16,107,293
Balance
                                            as
of
December
31,
2020
Software
Development
Additions
Acquisition
    of
Intangibles
Amortization
Expense
Foreign
Currency
Translation
Balance
    as
of
December 31,
2021
GeniusU
    software platform platform
$
2,007,182
$
804,314
$
—
$
—
$
—
$
2,811,496
Trademarks
13,234
—
—
—
—
13,234
Accumulated
    amortization
(
1,015,502
)
—
—
(
424,080
)
9,821
(
1,429,761
)
Net
    carrying value
$
1,004,914
$
804,314
$
—
$
(
424,080
)
$
9,821
$
1,394,969
During
the years ended December 31, 2022 and 2021, the Company recorded amortization of intangible assets in the amount of $
830,769
and $
424,080
respectively. The Company impaired $
1.1
million of developed software at GeniusU due to a decrease in the fair value of the subsidiary
based on a discounted cash flow model.
Annual estimated total amortization expense is $
1.5
million, $
1.42
million, $
1.33
million for 2023 through 2025 and $
12.93
million thereafter.
F-
30
NOTE
14 —
DEFERRED TAX ASSETS AND LIABILITIES
Deferred
tax assets and (liabilities) as of December 31, 2022 and 2021 and the related activity for the years ended December 31, 2022 and 2021
are as follows:
Balance
    as of
December 31,
2021
Recognized
    in
Business
Combination
Recognized
    in
Provision for
Income Taxes
Balance
    as of
December 31,
2022
Non-current
    assets:
Intangible
    Assets
$
—
$
(
4,425,990
)
$
524,565
$
(
3,901,425
)
Property,
    plant, and equipment
(
883,075
)
(
341,825
)
1,137,205
(
87,695
)
Other
—
—
(
2,240
)
(
2,240
)
(
883,075
)
(
4,767,815
)
1,659,530
(
3,991,360
)
Current
    assets:
Receivables
—
—
—
—
Prepaid
    expenses
(
17,195
)
—
17,195
—
Other
    (Section 24C allowance)
50,019
799,647
(
715,276
)
134,390
32,824
799,647
(
698,081
)
134,390
Current
    liabilities:
Depreciation
—
—
—
—
Income
    in Advance
127,129
—
238,248
365,377
Tax
    Losses
—
15,995
84,469
100,464
Net
    deferred tax assets and (liabilities)
$
(
723,122
)
$
(
3,952,173
)
$
1,284,166
$
(
3,391,129
)
Balance
    as of
December 31,
2020
Recognized
    in
Business
Combination
Recognized
    in
Provision for
Income Taxes
Balance
    as of
December 31,
2021
Non-current
    assets:
Intangible
    Assets
$
—
$
—
$
—
$
—
Property,
    plant, and equipment
(
979,612
)
—
96,537
(
883,075
)
Other
(
8,431
)
—
8,431
—
(
988,043
)
104,968
(
883,075
)
Current
    assets:
Receivables
—
—
—
—
Prepaid
    expenses
(
11,849
)
—
(
5,346
)
(
17,195
)
Other
    (Section 24C allowance)
26,452
23,451
116
50,019
14,603
23,451
(
5,230
)
32,824
Current
    liabilities:
Depreciation
—
—
—
—
Income
    in Advance
98,015
—
29,114
127,129
Tax
    Losses
—
—
—
—
Net
    deferred tax assets and (liabilities)
$
(
875,425
)
$
23,451
$
128,852
$
(
723,122
)
F-
31
Unused
tax losses for which no deferred tax assets have been recognized as of December 31, 2022 and 2021 are as follows:
As
                                            of December 31,
2022
2021
Unused
    tax losses for which no deferred tax assets has been recognized
$
(
29,195,914
)
$
(
9,982,291
)
Potential
    tax benefit of such unused tax losses at applicable statutory tax rates
$
(
6,338,526
)
$
(
2,050,255
)
Management
has evaluated and concluded that there were
no
material uncertain tax positions requiring recognition in the Company's financial
statements as of December 31, 2022 and 2021.
No
tax audits were commenced or were in process during the years ended December 31, 2022 and 2021 and
no
tax related interest or penalties
were incurred during those years.
The
following jurisdictions and tax years are open to audit:
Jurisdiction
Open
    Tax Years
Indonesia
2018
-
2022
New
    Zealand
2019
-
2022
Singapore
2019
-
2022
South
    Africa
2018
-
2022
United
    Kingdom
2021
United
    States
2020
-
2022
NOTE
15 —
OTHER NON-CURRENT ASSETS
As
of December 31, 2022 and 2021, other non-current assets were $
26,108
and $
501,750
, respectively.
NOTE
16 —
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
As
of December 31, 2022 and 2021, accrued expenses and other current liabilities consist of:
As
    of December 31,
2022
2021
Accrued
    expenses
$
1,539,791
$
390,138
Sundry
    payables
1,007,222
165,307
North
    West Parks Board
955,591
1,177,050
VAT
184,977
48,493
Other
    taxation payable
121,959
33,314
Derivative
    liability
—
250,000
$
3,809,540
$
2,064,302
The
North West Parks Board accrual represents the amounts owed related to the Company's Tau Game Lodge. The amount owed is related to turnover fees, concession fees and interest payable.
NOTE
17 —
DEFERRED REVENUE
As
of December 31, 2022 and 2021, deferred revenue consists of:
As
    of December 31,
2022
2021
Educational
    revenue paid in advance
$
5,594,979
$
1,630,723
Other
    prepaid income
583,797
638,473
Advance
    bookings for lodges
213,217
292,716
$
6,391,993
$
2,561,912
A reconciliation of deferred revenue for
the years ended December 31, 2022 and 2021 are as follows:
As of December 31,
2022
2021
Deferred revenue, beginning balance
$
2,561,912
$
1,546,712
Addition
6,180,022
1,773,994
Revenue earned
(
2,349,941
)
(
758,794
)
Deferred revenue, ending balance
$
6,391,993
$
2,561,912
NOTE
18 —
LOANS PAYABLE
As
of December 31, 2022 and 2021, loans payable consisted of:
As
    of December 31,
2022
2021
Loans
    payable – current portion
$
334,391
$
65,415
Loans
    payable – non-current portion
428,025
85,858
$
762,416
$
151,273
F-
32
In
September of 2019, the Company obtained lines of credit in the aggregate amount of S$
400,000
(approximately $
296,912
at the 2019 exchange
rate) for working capital and business expansions requirements in Wealth Dynamics Pte Ltd, which the Company drew down on in full. Loans
in the amount of S$
100,000
(approximately $
74,228
at the 2019 exchange rate) shall be repaid over
36
monthly installments including both
principal and the respective accrued interest. Interest on such principal shall bear at a rate of
8
% per annum plus a margin of
0.88
%,
subject to adjustment. The Company has the option to prepay the loan before its maturity date, subject to a fee of
6.88
% if paid within
twelve months from the drawdown date. Loans in the amount of S$
300,000
(approximately $
222,684
at the 2019 exchange rate) shall be repaid
over
60
monthly installments including both principal and the respective accrued interest. Interest on such principal shall bear at a
rate of
6.25
% per annum, subject to adjustment. The loans are secured by personal guarantees of the Director. During the year ended December
31, 2022, the Company repaid an aggregate of S$
98,589
, approximately $
72,492
at the 2022 exchange rate (2021 — S$
91,063
approximately
$
67,220
at the 2021 exchange rate) of principal plus the respective accrued interest.
Education
Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The loans are secured by the guarantees of the Director and do not have
covenant clauses. The outstanding principal as of December 31,
2022 is as follows:
Loan
    Type
Start
    Date
Loan
    Amount
Tenure
Interest
    Rate
Outstanding
    as
of December 31,
2022
IRD
    Loan
2020
$
20,063
60
Months
3.25
%
$
16,900
Juke
    NWN765
2021
$
19,679
36
Months
1.30
%
$
12,254
Qashqai
    NWN767
2021
$
22,258
36
Months
1.20
%
$
13,886
Qashqai
    NWN766
2022
$
22,258
36
Months
1.20
%
$
14,475
Mastermind
Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The loans are secured by the guarantees of the Director and do not have
covenant clauses. The outstanding
principal amount as of December 31, 2022 is as follows –
Loan
    Type
Start
    Date
Loan Amount
Tenure
Interest Rate
Outstanding
as
of December 31,
2022
Lloyds
    CBIL (MPL)
2020
$
239,540
60
Months
2.80
%
$
167,678
Funding
    Circle Loan (MPL)
2022
$
380,804
48
Months
9.30
%
$
305,787
The
    Funding Circle (PIN)
2022
$
116,054
48
Months
9.30
%
$
93,193
Lloyds
    Bounceback Loan
2022
$
51,378
72
Months
2.50
%
$
41,335
Annual estimated total principal repayments are $
361,019
in 2023, $
237,970
in 2024, $
146,893
in 2025, $
8,267
in 2026 and $
8,267
in 2027.
F-
33
NOTE
19 —
LOANS PAYABLE — RELATED PARTIES
Loans
from related parties as of December 31, 2022 and 2021 consist of the following:
As
    of December 31,
2022
2021
Loan
    payable to related parties for the acquisition of Wealth Dynamics Current portion
$
—
$
425,551
Non-current
    portion.
—
—
Subtotal
—
425,551
Other
    loans payable to related parties, current
2,932,090
—
Other
    loans payable to related parties, non-current
1,729
—
Total
    loans payable to related parties
$
2,933,819
$
425,551
The
loan payable to related party for the acquisition of Revealed Films is non-interest bearing with $
2,000,000
payable on or before March
31, 2023. The loan is payable to the previous shareholder of Revealed Films. This loan was paid in full during March 2023.
The
loan payable to related party for the acquisition of E-Squared Education Enterprises Pty Ltd is non-interest bearing with ZAR
3,600,000
(Approximately $
299,231
) payable on or before Nov 30, 2022. Company has agreed to repay the same in Q1 2023 and the loan was repaid in
March, 2023.
The
loan payable to the pre-acquisition owners of Revealed Films of $
500,000
is non-interest bearing and is due to the operational funding by the owner of $
250,000
by Jeff Hays and $
250,000
by Patrick Gentempo in accordance with the acquisition agreement to continue the operations of Revealed Films and to assist with
financing the company.
The
loan payable to related parties for the acquisition of Entrepreneurs Institute is non-interest bearing, with $
400,000
payable on each
of the first and second anniversaries of the acquisition date. Other loans payable to related parties represent unsecured loans from
shareholders, which bear no interest and are payable on demand. The loan was repaid in 2022.
The
Company pays fees to Entrepreneurs Institute Australia Pty Ltd ("EIA"), an Australian company controlled and ultimately
owned by Roger Hamilton and Sandra Morrell, directors of the Group. The total in 2022 was $
325,243
(2021:$
319,464
).
The sole purpose of the entity is to engage local team and physical resources to provide day to day support to the Group with its
own business requirements as well as catering to external clients. EIA on-charges its costs and does not record a material profit or
loss, therefore the related party shareholders do not receive any financial benefit from this arrangement. Unpaid fees are recorded
as a related party loan payable and is not-interest bearing.
The
Company pays fees to GeniusU Web Services India Pvt Ltd ("GU India"), an Indian company controlled and ultimately owned by
Suraj Naik, an employee of the Group, and a family member of Suraj Naik. The total in 2022 was $
209,322
(2021:$
162,930
). The sole purpose
of the entity is to engage local team and physical resources to provide day to day support to the Group with its own business requirements
as well as catering to external clients. GU India on-charges its costs and does not record a material profit or loss, therefore the related
party shareholders do not receive any financial benefit from this arrangement.
Unpaid
fees are recorded as a related party loan payable and is not-interest bearing.
F-
34
NOTE
20 —
CONVERTIBLE DEBT OBLIGATIONS
As
of December 31, 2022 and 2021, the Company's convertible obligations consisted of the following:
As
    of December 31,
2022
2021
Convertible
    debt obligations, beg, gross
$
1,274,010
$
1,531,639
Addition
9,599,390
—
Converted
    to equity
(
459,370
)
(
257,629
)
Converted to short term debt
(
539,245
)
—
Repayment
(
509,311
)
—
Deferred
    debt discount and Cost of Fund Raise
(
1,389,623
)
—
Convertible
    debt obligations, end, net
$
7,975,851
$
1,274,010
Convertible
    debt obligations, current portion
$
5,752,328
$
507,765
Convertible
    debt obligations, non-current portion
$
2,223,523
$
766,245
During
the year ended 2019, Entrepreneur Resorts issued 36-month convertible loans in the principal amount of $
2,256,178
which bear interest
at rates between
10
%
to
12
%
per annum, payable monthly, quarterly, annually or at maturity depending upon the convertible note (the "2019
Convertible Notes). The notes are converted based on the offer by the Company at the market price and upon acceptance by the note holder.
During
the year ended December 31, 2020, Genius Group Ltd issued 36-month convertible loans in the principal amount of $
1,819,145
which bear interest at rates between
10
%
to
12
%
per annum, payable quarterly, annually or at maturity depending upon the convertible note (the "2019 Convertible
Notes"). The convertible notes are convertible at the end of the term at the market price. Additionally, in connection with
the convertible note issuances, the Company incurred $
36,383
of debt issuance costs which are being accounted for as interest expenses. The notes are converted based on the offer by the Company at the market price and upon acceptance by the note holder.
During
the year ended 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal amount
of $
18,130,000
in face amount of a senior secured convertible note purchased for $
17,000,000
by the selling shareholder or its affiliates
or assigns in a transaction that closed on August 26, 2022, which is convertible into our ordinary shares at an initial fixed price of
$
5.17
, subject to adjustment for stock dividends, stock splits, anti-dilution and other customary adjustment events. The ordinary shares
issuable upon conversion of the convertible note are being registered and will be sold pursuant to the agreement by the selling shareholder.
In addition, subject to the satisfaction of equity conditions, we may, at our election, make monthly principal amortization payments
in our ordinary shares. If we elect to make amortization payments in ordinary shares, such ordinary shares will be valued at the lowest
of (x) the fixed conversion price, (y) 90% of the volume weighted average price of our ordinary shares on the trading day preceding the
amortization payment date and (z) 90% of the average of the three lowest volume weighted average prices for our ordinary shares during
the 20 trading days preceding the amortization payment date.
During
the year ended December 31, 2022, the company and holder of 2019 Convertible Notes in the aggregate amount of $
503,311
was repaid and
$
4,454
along with the accrued interest of $
18
were converted to into
743
Genius Group shares pursuant to conversion offer extended by
Genius Group Ltd. The conversion was recorded as reduction in the liability and an increase to equity. The interest was charged to
the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022 was
nil
(2021: $
207,765
) under the 2019
Convertible Notes.
During
the year ended December 31, 2022, the company and holder of 2020 Convertible Notes in the agreement amount of $
6,000
was repaid and $
221,000
along with the accrued interest of $
3,764
were converted into
37,463
Genius Group shares pursuant to conversion offer extended by Genius
Group Ltd. The conversion was recorded as reduction in the liability and an increase to equity. The interest was charged to
the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022 was $
539,245
(2021: $
766,245
) under the
2020 Convertible Notes plan and is classified as Short term debt.
During
the year ended December 31, 2022, the company and holder of 2022 Convertible Note converted aggregate amount of $
707,306
including the accrued interest of $
235,146
into the equity of Genius Group based on the share price calculated as per the agreement. The company issued
1,515,891
Genius Group Shares to fulfill the conversion request. The conversion was recorded as reduction in the liability and an increase to
equity. The interest was charged to the profit and loss statement under interest expenses. The unpaid amount as of December 31, 2022
was $
7,975,851
(2021: $
0
) and is classified as convertible debt obligations.
During
the year ended December 31, 2021, the Company, and holders of 2020 Convertible Notes in the aggregate principal amount of $
161,500
and
$
6,170
of accrued interest were converted into
13,306
GeniusU Limited ordinary shares pursuant to conversion offers extended by Genius
Group Ltd at exercise prices equal to the fair value of a GeniusU Limited ordinary share at the time of conversion, or between $
10
and
$
15
per GeniusU Limited ordinary share. The Company recorded the conversions by reclassifying the carrying value of the 2021 Convertible
Notes to equity.
F-
35
NOTE
21 —
DERIVATIVE LIABILITIES
Derivative
liabilities as of December 31, 2022 consist of the following:
As
    of
December 31,
2022
Options
$
24
,041,198
Contingent
    consideration
12,447,396
$
36,488,594
To
account for the Options and Top Up Consideration for the acquisitions the Company used the following income approach valuation methods:
Top
Up Consideration (excluding Revealed Films) and Call Option: The fair values of each was determined utilizing monte carlo simulations
to simulate the potential payoffs.  A monte carlo simulation is a problem solving technique used to approximate the probability
of certain outcomes by running multiple trial runs, called simulations, using random variables.
Put
Option: The fair value of the put option was determined using a closed-form option pricing model commonly referred to as the Black-Scholes
option pricing model.
Revealed
Films Top Up Consideration: The fair value was determined utilizing a present value technique involving a discounted cash flow analysis.
The Company utilized an independent third-party to determine the fair value
of the fair value of the contingent earn outs and the fair value of options. A
reconciliation of derivative liabilities for the year ended December 31, 2022 is as follows:
Options
Acquisition Value
Adjustments
Closing Value
PIN
$
10,100,000
$
12,250,000
$
22,350,000
ESQ
451,000
1,240,198
1,691,198
$
10,551,000
$
13,490,198
$
24,041,198
The
company has recorded the derivative liability for issuance of options as follows:
The
company has issued a call option to the seller of Property Investors Network which allows the seller to exercise the call option to repurchase
the company from the buyer, if the value of Company's shares held by the seller is below GBP
10.2
million. To repurchase the company the Genius Group shares held by the seller, Simon
Zushi, must be transferred back to the Company, the seller must pay back £
3
million to Genius Group, less any cash taken out of
Property Investors Network by Genius Group during the period commencing on the acquisition closing date and ending on the call completion
date. The validity of such option is one year from the first anniversary of the acquisition close date. The change
in the fair value of the call option is recorded as a gain or loss to Revaluation adjustment of contingent liabilities on the
Statement of Operations and Comprehensive Loss during the year 2022.
The
company has also issued a put option to the seller of E-Squared Enterprises Ltd which allows the seller to exercise the put option
in return for the cash consideration,
if
the Company's shares trade below $5.81 ($34.87 pre-split) at the agreed value of $1,907,598 at any given point of time from
the date of commencement to two years. The change in the fair value of the put option is recorded as a gain or loss to revaluation
adjustment of contingent liabilities on the Statement of Operations and Comprehensive Loss during the year 2022.
Contingent
Consideration
Acquisition Value
Adjustments
Closing Value
RF
$
10,380,396
$
-
$
10,380,396
UAV
1,017,000
191,000
1,208,000
PIN
701,000
158,000
859,000
$
12,098,396
$
349,000
$
12,447,396
The
company has recorded contingent consideration related to the acquisition companies. The company has agreed
to pay the additional consideration to the seller of each companies listed on the table above upon achieving the pre-agreed milestones.
The change in the fair value of contingent consideration is recorded as gain or loss to revaluation adjustment of contingent liabilities on
the Statement of Operations and Comprehensive Loss during the year 2022. The details of each contingent
considerations are as follows:
Revealed
Films –
The company has agreed to pay top up consideration of 1.5X the difference between the revenue in 2023, 2024 and 2025 if
the revenue growth is higher than $7 million and a profit of at least 7%. The revenue growth is calculated as revenue during the year
minus $7 million or previous year's revenue if the target was met. The consideration will be paid by issuing Company shares in
the assigned ratio for each of the sellers.
University
of Antelope Valley –
The
company has agreed to the seller of UAV if the amount of UAV's total revenue in 2022, 2023 and 2024 is an increase over $9
million during each of the year or subsequent year's total revenue, then the purchaser shall pay an additional cash of an
amount equal to the total revenue minus $9 million or previous year's revenue multiplied by two. The consideration is payable
in cash.
Property
Investors Network –
The company has agreed to pay the top up consideration if the 2x revenue or 10x EBITDA in 2022, 2023 or 2024
exceeds the purchase price or the previous year's consideration; the difference between the value will be paid in additional consideration
by 90% in shares and 10% in cash.
E-Squared
Enterprises –
The company has agreed to pay top up consideration for the year 2022 and 2023 for the positive difference between
2x annual revenue or 10x EBITDA for the financial year minus the hurdle amount which is the revenue or EBITDA for the previous year.
NOTE
22 —
EQUITY
Contributed
Capital
Equity
Issued
During
the years ended December 31, 2022 and 2021, the Company issued ordinary shares for net cash proceeds of $
15,473,334
and $
3,127,442
,
respectively.
During
the year ended December 31, 2022, the Company issued the company ordinary shares with a gross value of $
22,581,816
(net $
15,202,858
)
from the IPO proceeds. The company also raised cash proceed of $
270,476
from the share issuance during the IPO. GeniusU Limited issued ordinary shares with a value of $
2,655,739
(2021 - $
3,308,617
)
in exchange of cash and conversion from a loan to equity.
F-
36
During
the year ended December 31, 2022, Genius Group Ltd entered into a Securities Purchase Agreement to issue convertible loan in the principal
amount of $
18,130,000
in face amount of a senior secured convertible note purchased for $
17,000,000
. In relation to the offering, the
company has classified the equity portion of the debt note valued at $
6,893,064
net of debt discount and cost of fund raise.
During
the year ended December 31, 2022, the Company issued Genius Group Ltd ordinary shares with a value of $
35,098,001
in exchange for the
5 acquisitions that the company closed. Genius Group Ltd shares were valued using the market approach based on the price per share paid
by third parties for Genius Group Ltd shares as of the acquisition date and share delivery date.
See
below for discussions regarding additional equity issuances.
Shares
Issued Related to Debt Conversions
During
the year December 31, 2022, convertible debt obligations consisting of $
936,543
(2021-$
177,689
) of principal and accrued interest were
converted into Genius Group shares pursuant to conversion offers extended by Genius Group Ltd and Entrepreneur Resorts Limited. See Note
20 — Convertible Debt Obligations for additional information.
Shares
Issued in Satisfaction of a Liability
During
the year December 31, 2020, the Company issued $
350,000
of Genius Group Ltd ordinary shares as partial
settlement of a loan with the seller of Tau Game Lodge. The Company also granted a put option over shares issued in satisfaction of this
liability and reported a liability of $
250,000
payable in cash upon exercise. The seller of Tau Game Lodge exercised the put option in
2022 and the Company cancelled the shares valued at $
350,000
and paid the liability of $
250,000
in
cash.
Stock-Based
Compensation
During
the year ended December 31, 2022 and 2021, the Company granted
560,188
and
14,306
Genius Group share options
. The fair value of
the options granted in 2022 was $
2,189,351
and 2021 was $
181,559
,
with the fair value expensed over the vesting period. During the year ended December 31, 2022, the Company issued 1,511,664 Restricted
Stock Units (RSUs) to new hires. The RSUs fair value of $
2,600,000
is being expensed over the applicable vesting period.
The
Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods:
Years
    Ended
December 31,
2022
2021
Risk-free
    interest rate
4.41
%
0.73
%
Contractual
    term (years)
1
-
3
1
-
3
Expected
    volatility
177.30
%
66.00
%
Expected
    dividends
0.00
%
0.00
%
F-
37
A
summary of the option activity during the year ended December 31, 2022 was as follows:
No
    of Options
Weighted
    Average Share Price
Weighted
    Average Remaining Life
Aggregate
    Intrinsic Value
Outstanding
    as of January 1, 2022
539,760
$
4.74
1
$
0
Granted
560,188
4.22
3
0
Exercised
(
73,428
)
5.81
-
0
Outstanding
    as of December 31, 2022
1,026,520
$
4.38
2
$
0
Options
    Outstanding
Options
    Exercisable
Year
Exercise
    Price
Outstanding
    Number of Options
Underlying
    Common Stock
Weighted
    Average Remaining Life in Years
Exercisable
    Number of Warrants
2019
    Share Option
$
3.56
257,478
GNS
1
$
257,478
2020
    Share Option
5.81
74,640
GNS
1
74,640
2021
    Share Options
5.81
134,214
GNS
3
134,214
2022
    Employee Grants (Options)
4.22
560,188
GNS
3
0
$
4.38
1,026,520
2
$
466,332
The
Company recorded stock-based compensation in the amount of $
1,308,784
and $
293,837
during the years ended December 31, 2022 and 2021,
respectively, in connection with the amortization of the grant date value of the stock options. The amount of $
3,975,722
to be recognized as stock based compensation expense over the period 2023, 2024 and 2025.
F-
38
NOTE
23 —
REVENUES
The
breakdown of revenues for the years ended December 31, 2022 and 2021 are shown below. The revenue is disaggregated into the categories
the Company believes depict how and the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Years
    Ended December 31,
2022
2021
As
                                            restated
Campus
    Revenue
–
    Sale of goods
$
2,527,590
$
3,102,210
–
    Rendering of services
2,110,531
—
Campus
    sub-total
4,638,121
3,102,210
Education
    Revenue
–
    Digital
8,011,319
5,192,594
–
    In-Person
5,544,176
—
Education
    sub-total
13,555,495
5,192,594
Total
    Revenue
$
18,193,616
$
8,294,804
NOTE
24 —
OTHER OPERATING INCOME
For
the years ended December 31, 2022 and 2021, other operating income consists of:
Years
    Ended December 31,
2022
2021
Other
    income
$
144,396
$
—
Subsidy
    from government
—
490,300
$
144,396
$
490,300
F-
39
NOTE
25 —
GENERAL AND ADMINISTRATIVE EXPENSES
General
and administrative expenses for the years ended December 31, 2022 and 2021 include the following:
Years
    Ended December 31,
2022
2021
Salaries,
    wages, bonuses, and other benefits
$
8,909,585
$
4,197,397
Professional
    and consulting fees
2,284,436
660,117
Marketing
1,917,377
73,277
Other
1,559,593
1,151,991
Provision
    for doubtful debts
1,509,484
(
39,108
)
Stock-based
    compensation
1,308,784
293,837
Utilities
952,056
142,019
Travel
851,139
13,356
Development
    charges
847,068
456,180
Rent
    expense
351,730
250,994
Repairs
    and maintenance
304,938
11,144
Athletic
    program expenses
277,604
—
$
21,073,794
$
7,211,204
NOTE
26 —
INTEREST EXPENSE, NET
For
the years ended December 31, 2022 and 2021, the Company earned interest income and incurred interest expense as follows:
Years
    Ended December 31,
2022
2021
Interest
    (expense) income
Bank
    and other cash
$
26,380
$
(
74,081
)
Total
    interest (expense) income
26,380
(
74,081
)
Interest
    expense/finance costs
Lease
    liabilities
(
491,336
)
(
131,291
)
Other
    interest paid – loans
(
847,520
)
(
103,357
)
Amortization
    of debt discount
—
(
140,837
)
Total
    interest expense/ finance costs
(
1,338,856
)
(
375,485
)
$
(
1,312,476
)
$
(
449,566
)
F-
40
NOTE
27 —
INCOME TAX EXPENSE
The
Company is subject to income taxes in the countries of Indonesia, Singapore, New Zealand, United States, United Kingdom and South
Africa.
The
provision for income taxes consists of the following provisions (benefits):
Years
    ended December 31,
2022
2021
Current
    tax:
Current
    tax on profits for the year
$
220,570
$
—
220,570
—
Deferred
    income tax:
(Increase)
    decrease in deferred tax assets
29,240
(
29,230
)
Decrease
    in deferred tax liabilities
(
1,313,406
)
(
99,622
)
(
1,284,166
)
(
128,852
)
(Benefit
    from) Provision for income taxes
$
(
1,063,596
)
$
(
128,852
)
The
provision for income taxes by country consists of the following provisions (benefits):
INDONESIA
NEW
    ZEALAND
SINGAPORE
SOUTH
    AFRICA
UK
USA
CONSOLIDATED
Current Expense
Foreign
$
(
29,039
)
$
6,050
$
-
$
46,129
$
197,430
$
-
$
220,570
Total Current
    Tax Expense
(
29,039
)
6,050
-
46,129
197,430
-
220,570
Deferred Expense
Federal
-
-
-
-
-
(
124,478
)
(
124,478
)
State
-
-
-
-
-
(
24,010
)
(
24,010
)
Foreign
(
145,289
)
(
54,100
)
29,503
(
607,462
)
(
358,330
)
-
(
1,135,678
)
Total Deferred
    Tax Expense
(
145,289
)
(
54,100
)
29,503
(
607,462
)
(
358,330
)
(
148,488
)
(
1,284,166
)
(Benefit
    from) Provision for Income Taxes
$
(
174,328
)
$
(
48,050
)
$
29,503
$
(
561,333
)
$
(
160,900
)
$
(
148,488
)
$
(
1,063,596
)
The
reconciliation of income taxes at the statutory rate of Singapore to the effective tax rates for the years ended December 31, 2022 and
2021 is as follows:
Years
    ended December 31,
2022
2021
Loss from continuing operations before provision for income taxes
$
(
56,315,143
)
$
(
4,618,050
)
Tax
    at the Singapore rate of
17
%
(
9,573,574
)
(
785,069
)
Reconciling
    items:
Permanent
    differences
5,867,054
31,272
Current
    period net operating losses not recognised as a deferred tax asset
3,019,483
743,997
Rate
    differential – non-Singapore entities
(
736,092
)
(
55,045
)
Other
    deferred tax activity
359,533
(
64,007
)
(Benefit
    from) Provision for income taxes
$
(
1,063,596
)
$
(
128,852
)
F-
41
NOTE
28 —
EARNINGS PER SHARE
Years
    ended December 31,
2022
2021
Loss per share, basic and diluted
$
(
2.44
)
$
(
0.28
)
The
    calculation of basic and diluted loss per share has been based on the following loss attributable to ordinary shareholders and
    the weighted average number of ordinary shares
Net
    Loss
$
(
55,251,547
)
$
(
4,489,198
)
Non-Controlling
    Interest
(
206,021
)
(
173,959
)
Loss
    Attributed to Ordinary Shareholders
$
(
55,045,526
)
$
(
4,315,239
)
Weighted
    Average Number of Ordinary Shares
Issued
    at the beginning of the year
16,155,812
16,155,812
Issued
    in current Year
11,549,415
—
Issued
    at the end of the year
27,705,227
16,155,812
Weighted
    Average
22,634,366
16,155,812
Diluted
    earnings (loss) per share:
There
    are no dilutive instruments and therefore diluted earnings
per share is the same as basic earnings per share
Instruments
    that could potentially dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings
    per share because they are antidilutive:
Share
    Options and RSUs
1,511,664
7,138,140
NOTE
29 —
FAIR VALUE INFORMATION
Fair
value hierarchy
The
table below analyses assets and liabilities carried at fair value. The different levels are defined as follows:
Level
1: Quoted unadjusted prices in active markets for identical assets or liabilities that the Company can access at measurement date.
Level
2: Inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.
Level
3: Unobservable inputs for the asset or liability.
F-
42
As
of December 31, 2022 and 2021, the Company's financial assets and liabilities by level within the fair value hierarchy are as follows:
As
    of December 31, 2022
Level
    1
Level
    2
Level
    3
Total
FINANCIAL
    ASSETS
Cash
    and Restricted Cash
$
16,829,385
$
—
$
—
$
16,829,385
FINANCIAL
    LIABILITIES
Contingent
    liabilities
—
—
36,488,594
36,488,594
As
    of December 31, 2021
Level
    1
Level
    2
Level
    3
Total
FINANCIAL
    ASSETS
Cash
$
1,784,938
$
—
$
—
$
1,784,938
F-
43
NOTE
30 —
FINANCIAL RISK MANAGEMENT
The
Company's activities expose it to certain financial risks mainly related to:
➢
market
                                            risk (currency risk, interest rate risk and price risk);
➢
credit
                                            risk, and
➢
liquidity
                                            risk.
The
board of directors has overall responsibility for the establishment and oversight of the Company's risk management framework. The
board has established the risk committee, which is responsible for developing and monitoring the Company's risk management policies.
The committee reports quarterly to the board of directors on its activities.
The
Group's risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk
limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect
changes in market conditions and the Company's activities.
The
Group's board of directors oversees how management monitors compliance with the risk management policies and procedures and reviews
the adequacy of the risk management framework in relation to the risks faced by the Company.
Market
risk
Interest
rate risk
Fluctuations
in interest rates impact on the value of investments and financing activities, giving rise to interest rate risk.
The
debt of the Company is comprised of different instruments, which bear interest at either fixed or floating interest rates. The ratio
of fixed and floating rate instruments in the loan portfolio is monitored and managed, by incurring either variable rate bank loans or
fixed rate bonds as necessary.
The
Company policy with regards to financial assets, is to invest cash at floating rates of interest and to maintain cash reserves in short-term
investments in order to maintain liquidity, while also achieving a satisfactory return for shareholders.
Foreign
currency risk
The
Company is exposed to foreign currency risk as a result of certain transactions and borrowings which are denominated in foreign
currencies. The foreign currencies in which the Company deals primarily are US Dollars, Singapore Dollars, Indonesian Rupees and
South African Rands.
Credit
risk
Credit
risk arises from the potential default of a counterparty to an agreement or financial instrument, resulting in financial loss. The Company
is exposed to credit risk in its operating activities (mainly in connection with trade receivables) and financial activities, including
deposits with banks and other financial institutions and other financial instruments contracted.
F-
44
To
mitigate risks associated with trade receivables, management makes use of credit approvals, limits, and monitoring, and only deals with
reputable counterparties with consistent payment histories. Sufficient collateral or guarantees are also obtained when necessary. Each
counterparty is analyzed individually for creditworthiness before terms and conditions are offered. The analysis involves making use
of information submitted by the counterparties as well as external bureau data (where available). Counterparty credit limits are in place
and are reviewed and approved by credit management committees. The exposure to credit risk and the creditworthiness of counterparties
is continuously monitored.
Credit
loss allowances for expected credit losses are recognized for all debt instruments except those measured at fair value through profit
or loss. Credit loss allowances are also recognized for loan commitments and financial guarantee contracts. For trade receivables and
contract assets which do not contain a significant financing component, the loss allowance is determined as the lifetime expected credit
losses of the instruments. For all other trade receivables, contract assets and lease receivables, IFRS 9 permits the determination of
the credit loss allowance by either determining whether there was a significant increase in credit risk since initial recognition or
by always making use of lifetime expected credit losses. Management has chosen as an accounting policy, to make use of lifetime expected
credit losses. Management does therefore not make the annual assessment of whether the credit risk has increased significantly since
initial recognition for trade receivables, contract assets or lease receivables.
Liquidity
risk
The
Company is exposed to liquidity risk, which is the risk that the Company will encounter difficulties in meeting its obligations as they
become due.
The Company has incurred significant losses and needs to raise additional
funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to
continue as a going concern. Management's plans in regard to these matters are also described in Note 2.
F-
45
NOTE
31 —
RELATED PARTIES
Relationships
Name of
    related party
Board members and key management
Roger James Hamilton
Sandra
                                        Lee Morrell
Michelle
    Clarke
Suraj Naik
Patrick
                                        Grove
Nic
    Lim
Anna
    Gong
Richard
    Berman
Timothy
                                        Murphy
Erez
    Simha
Ravinder
    Karwal
Simon
    Zutshi
Lilian
                                        Niemann
Angela
    Stead
Jeff
                                    Hays
Patrick
    Gentempo
Related entity
GeniusU Web Services Pvt
    Ltd
Entrepreneur Institute
    Australia Pty Ltd
Health 360 Pte Ltd
The Genius Movement Pte
    Ltd
World Game Pte Ltd
Health Dynamics
Wealth Dynamics America
BG2 Ltd
BG3 Ltd
BG4 Ltd
BMV Finance
Crowd Property
Hatfield House
Property Mastermind International
Zutshi LLP
Vision 1 Investments
Throckley
MSJ Foundation
See
Note 19 — Loans Payable, Related Parties for information on related party balances.
NOTE
32 —
KEY MANAGEMENT COMPENSATION
The
following tables set forth information regarding compensation awarded to or earned by our Executive Officers and Board of Directors during
the years ended December 31, 2022 and 2021:
2022
2021
Salary
Stock
    Based
Total
Salary
Stock
    Based
Total
Key
    management compensation
$
1,184,506
$
553,987
$
1,738,493
$
975,110
$
43,640
$
1,018,750
F-
46
NOTE
33 —
SEGMENT REPORTING
Each
of the Company's business segments offer different, but synergistic products and services, and are managed separately. Discrete
financial information is available for each segment, and segment performance is evaluated based on operating results. Adjustments to
reconcile segment results to consolidated results are included under the caption "Intercompany" which eliminates the effect
of transactions between the segments.
The
Company's business consists of two reportable business segments:
➢
Education
                                            — entrepreneur education, management consultancy and business development tools.
➢
Campus
                                            — resorts, retreats, and co-working cafes for entrepreneurs.
The
detailed segment information of the Company is as follows:
For
    the Years Ended December 31
2022
2021
Education
Campus
Total
Education
Campus
Total
Revenues
$
13,555,495
$
4,638,121
$
18,193,616
$
5,192,594
$
3,102,210
$
8,294,804
Depreciation
and amortization
(1)
(2)
$
1,245,215
$
1,105,425
$
2,350,640
$
426,740
$
1,148,173
$
1,574,913
Loss
    from operations
$
(
31,836,870
)
$
(
9,746,037
)
$
(
41,582,907
)
$
(
2,153,975
)
$
(
2,014,509
)
$
(
4,168,484
)
Net
    Loss
$
(
45,358,626
)
$
(
9,892,921
)
$
(
55,251,547
)
$
(
2,252,795
)
$
(
2,365,255
)
$
(
4,618,050
)
Interest
    Expense, net
$
(
943,916
)
$
(
368,560
)
$
(
1,312,476
)
$
(
98,819
)
$
(
350,747
)
$
(
449,566
)
Capital
    Expenditures
$
—
$
—
$
—
$
—
$
—
$
—
Property
    and equipment, net
$
563,131
$
—
$
563,131
$
15,442
$
6,760,674
$
6,776,116
Total
    Assets
$
88,120,390
$
3,139,237
$
91,259,627
$
5,122,967
$
12,472,440
$
17,595,407
Total
    Liabilities
$
71,656,141
$
5,648,650
$
77,304,791
$
3,589,315
$
6,020,096
$
9,609,411
(1)
Consists
                                            of $
577,998
(2021-$
426,740
) of Education segment depreciation and amortization which is included
                                            in cost of revenue and $
667,217
(2021-$
0
) which is included in operating expenses in the
                                            accompanying statements of operations
(2)
Consists
                                            of $
590,228
(2021-$
1,109,309
) of Campus segment depreciation and amortization which is included
                                            in cost of revenue and $
515,197
(2021-$
38,864
) which is included in operating expenses in
                                            the accompanying statements of operations
F-
47
A
summary of non-current assets (other than financial instruments) by geographic location appears below:
For
                                            the Years Ended December 31,
2022
2021
Education
Campus
Total
Education
Campus
Total
Europe
    / Middle East / Africa
$
12,792,087
$
3,473,507
$
16,265,594
$
602
$
8,476,791
$
8,477,393
Asia
    / Pacific
24,799,301
4,112,755
28,912,056
—
2,120,102
2,120,102
North
    America / South America
21,831,530
—
21,831,530
501,750
—
501,750
$
59,422,918
$
7,586,262
$
67,009,180
$
502,352
$
10,596,893
$
11,099,245
A
summary of revenue by geographic location appears below:
For
                                            the Years Ended December 31,
2022
2021
Education
Campus
Total
Education
Campus
Total
Europe
    / Middle East / Africa
$
3,857,193
$
2,403,570
$
6,260,763
$
1,948,567
$
1,554,828
$
3,503,395
Asia
    / Pacific
2,073,866
2,234,551
4,308,417
1,795,863
1,547,382
3,343,245
North
    America / South America
7,624,436
-
7,624,436
1,448,164
—
1,448,164
$
13,555,495
$
4,638,121
$
18,193,616
$
5,192,594
$
3,102,210
$
8,294,804
NOTE
34 —
EVENTS AFTER THE REPORTING PERIOD
Convertible
Debt Obligations
Subsequent
to December 31, 2022 and prior to the issuance of these financial statements, convertible debt obligations consisting of $
5.9
million
of principal and accrued interest were converted into
17.3
million shares of Genius Group Ltd pursuant to conversion offers extended
by the Company. On March 29, 2023, the Company and Ayrton Capital amended the convertible debt agreement as follows:
●
The
                                            Company will make the remainder of monthly payments it owes on the $
18.0
million convertible
                                            note in cash over time, to ensure no further dilution of shares. As such, the Company will
                                            not be subject to any future installment-related accelerations at a variable price from the
                                            note, unless consented to by the Company.
●
The
                                            Company will deliver to Ayrton Capital,
13.0
million ordinary shares relating to the redemption
                                            of convertible notes due for the period from January 2023 to March 2023.
●
Ayrton
                                            Capital released the remaining restricted cash held in deposit to the Company during April
                                            2023.
Entrepreneur
Resorts Ltd Proposed Spinoff
Subsequent
to December 31, 2022, and prior to the issuance of these financial statements, shareholders have passed the resolution to authorize the
spinoff of its subsidiary Entrepreneur Resorts Ltd (ERL) and adoption of new Company constitution. ERL is a public listed company on
the Seychelles MERJ Stock Exchange, with
95
%
of outstanding shares owned by Genius Group.
Shareholders
Resolution for Share Consolidation and Share Buyback
Subsequent
to December 31, 2022, and prior to the issuance of these financial statements, shareholders have passed the resolution to authorize board
to execute a share repurchase mandate and to execute a share consolidation as they deem fit.
F-
48