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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on April 1, 2020</B></P>

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; font-variant: small-caps"><B>Xenetic
Biosciences, Inc.</B></FONT></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>45-2952962</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; text-align: center"><FONT STYLE="font-size: 10pt"><B>40 Speen Street, Suite 102<BR>
Framingham, Massachusetts</B></FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%; text-align: center"><FONT STYLE="font-size: 10pt"><B>01701</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amended and Restated Equity Incentive
Plan</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>40 Speen Street, Suite 102<BR>
Framingham, Massachusetts, 01701</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(781) 778-7720</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><I></I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>With a copy to: </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
<TR>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Danielle Price</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Holland-Knight LLP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">701 Brickell Avenue, Suite 3300</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Miami, Florida 33131</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(305) 374-8500</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>K. Elisabeth Castro</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Westward Law, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">3273 E. Warm Springs Rd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Las Vegas, NV 89120</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(702) 701-3945</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&yacute;</FONT></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Smaller reporting company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&yacute;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

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

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

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

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

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

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

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

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

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

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

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    <TD STYLE="width: 35%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Title of Securities </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>to be Registered</B></P></TD>
    <TD STYLE="width: 16%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount to be Registered (1)</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proposed Maximum</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Offering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Price Per Share(2)</B></P></TD>
    <TD STYLE="width: 19%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proposed Maximum</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aggregate</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Offering Price(2)</B></P></TD>
    <TD STYLE="width: 14%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registration Fee</B></P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; font-size: 10pt"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.001 per share</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">750,000 shares</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$0.73</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$547,500.00</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">$71.07</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this Registration Statement shall also cover any additional shares of the Registrant&rsquo;s common stock, par value $0.001 (the &ldquo;Common Stock&rdquo;) that become issuable under the Registrant&rsquo;s Amended and Restated Equity Incentive Plan (the &ldquo;Amended and Restated EIP&rdquo;) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of the Registrant&rsquo;s outstanding shares of Common Stock.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Estimated solely for the purpose of calculating the amount of
        the registration fee pursuant to Rule 457(h) and Rule 457(c) promulgated under the Securities Act. The offering price per share
        and the aggregate offering price are based upon $0.73, which is the average of the high and low prices of the Registrant&rsquo;s
        Common Stock as reported on the NASDAQ Capital Market on March 30, 2020.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Registration Statement on Form S-8
is being filed for the purpose of registering an additional 750,000 shares of common stock, par value $0.001 per share (the &ldquo;Common
Stock&rdquo;) of the Registrant reserved for future issuance under the Xenetic Biosciences, Inc. Amended and Restated Equity Incentive
Plan (the &ldquo;Amended and Restated EIP&rdquo;). The additional shares of Common Stock being registered pursuant to the Amended
and Restated EIP are additional securities under the same class as other securities for which registration statements (File No.&nbsp;333-
218024 &amp; File 333-222272) on Form S-8 were filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
on May 16, 2017 and December 22, 2017, respectively (the &ldquo;Prior Registration Statements&rdquo;). Pursuant to Instruction
E of Form S-8, the contents of the Prior Registration Statements are incorporated herein by reference.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information specified in Item&nbsp;1
and Item&nbsp;2 of Part&nbsp;I of Form&nbsp;S-8 is omitted from this Registration Statement in accordance with the provisions of
Rule&nbsp;428 under the Securities Act. The documents containing the information specified in Part&nbsp;I of Form&nbsp;S-8 will
be delivered to the participants in the plans covered by this Registration Statement as specified by Rule&nbsp;428(b)(1)&nbsp;under
the Securities Act.</P>

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 3.</B></TD><TD><B>INCORPORATION OF DOCUMENTS BY REFERENCE</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents filed by the Registrant
with the Commission are incorporated by reference to this Registration Statement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant&rsquo;s Annual Report on Form 10-K (File No. 001-37937) for the fiscal year ended December 31, 2019, filed with the
Commission on March 26, 2020;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;), since the end of the fiscal year covered by the Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year
ended December 31, 2019; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
description of the Registrant&rsquo;s Common Stock contained in the Registrant&rsquo;s Registration Statement on Form 8-A/A filed
on November 1, 2016 (File No. 001-37937), under the Exchange Act, including any amendment or report filed for the purpose of updating
such description.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All other reports and documents subsequently
filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d)&nbsp;of the Exchange Act on or after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
herein and to be a part of this Registration Statement from the date of the filing of such reports and documents; provided, however,
that documents, reports and definitive proxy or information statements, or portions thereof, which are furnished and not filed
in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 4.</B></TD><TD><B>DESCRIPTION OF SECURITIES</B></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 5.</B></TD><TD><B>INTERESTS OF NAMED EXPERTS AND COUNSEL</B></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 6.</B></TD><TD><B>INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Nevada law provides that a Nevada corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed proceeding,
except an action by or in the right of the corporation, by reason of the fact that such person is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of
another corporation or other enterprise, against expenses, including attorneys&rsquo; fees, judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with the proceeding, if such person:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>is not liable for breach of his or her fiduciary duties to the corporation; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was
unlawful.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, a Nevada corporation may indemnify
any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action by or in the
right of the corporation to procure a judgment in its favor by reason of the fact that such person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or
agent of another corporation or other enterprise against expenses, including amounts paid in settlement and attorneys&rsquo; fees
actually and reasonably incurred by such person in connection with the defense or settlement of the action, if he or she:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>is not liable for breach of his or her fiduciary duties to the corporation; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the
corporation.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Under Nevada law, indemnification may not
be made for any claim as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all
appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the
extent that a court of competent jurisdiction determines that in view of all the circumstances of the case, the person is fairly
and reasonably entitled to indemnity for such expenses as the court deems proper.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">To the extent that a director, officer,
employee or agent of a corporation has been successful on the merits or otherwise in defense of any non-derivative proceeding or
any derivative proceeding, or in defense of any claim, issue or matter therein, the corporation shall indemnify such person against
expenses, including attorneys&rsquo; fees, actually and reasonably incurred in connection with the defense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Further, Nevada law permits a Nevada corporation
to purchase and maintain insurance or to make other financial arrangements on behalf of any person who is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or
agent of another corporation or other enterprise for any liability asserted against him or her and liability and expenses incurred
by him or her in his or her capacity as a director, officer, employee or agent, or arising out of his or her status as such, whether
or not the corporation has the authority to indemnify such person against such liability and expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Under our charter and bylaws, we are obligated
to indemnify any director, officer, employee or agent of the company to the fullest extent permitted by the Nevada Revised Statues
(&ldquo;NRS&rdquo;), as described above. We have entered into separate indemnification agreements with our directors and executive
officers, in addition to the indemnification provided for in our charter and bylaws. These agreements, among other things, require
us to indemnify our directors and executive officers who have met the standards of conduct that make it permissible under the NRS
for us to indemnify the claimant for certain expenses, including attorneys&rsquo; fees, judgments, fines and settlement amounts
incurred by such person in any action or proceeding arising out of their services as one of our directors, officers, employees
or agents, or any of our subsidiaries or any other company or enterprise to which the person provides services at our request.
We believe that these charter and bylaw provisions and indemnification agreements are necessary to attract and retain qualified
persons as directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, indemnification is required
to continue as to a person who has ceased to be a director or officer and inures to the benefit of his or her heirs, executors
and administrators. Subject to the exceptions detailed below, we may indemnify a person seeking indemnification in connection with
a proceeding (or part thereof) initiated by the person seeking indemnification only if the proceeding (or part thereof) was authorized
by our board of directors. We may indemnify any employee or agent of us to an extent greater than required by law only if and to
the extent that our directors, in their discretion, may determine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If we do not pay a claim for indemnification
within 60 days after a written claim has been received by us or pay an advancement of expenses under our bylaws in full within
20 days after a written claim has been received by us, the claimant may bring suit against us to recover the unpaid amount of the
claim and, if successful in whole or in part, the claimant also will be entitled to be paid the expense of prosecuting such claim
to the fullest extent permitted by applicable law. In any such action, we would have the burden of proving that the claimant is
not entitled to the requested indemnification or advancement of expenses.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 7.</B></TD><TD><B>EXEMPTION FROM REGISTRATION CLAIMED</B></TD></TR></TABLE>

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

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

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 8.</B></TD><TD><B>EXHIBITS</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following exhibits are filed herewith:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%; border: black 1pt solid; text-align: center"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 46%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Exhibit Index</B></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Form</B></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Filing Date</B></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Exhibit Number</B></TD>
    <TD STYLE="width: 9%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><B>Filed Herewith</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000153452511000003/ex3_1.htm" STYLE="-sec-extract: exhibit">Articles of Incorporation</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">S-1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">11/21/2011</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.2</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000125529413000092/ex3_1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to Articles of Incorporation</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">02/12/2013</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.3</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000125529413000155/ex3_1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to Articles of Incorporation</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">02/27/2013</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.4</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000150416714000015/ex3_1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to Articles of Incorporation</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">10-Q</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">01/10/2014</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.5</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000150416714000015/ex3_2.htm" STYLE="-sec-extract: exhibit">Certificate of Change Pursuant to NRS 78.209</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">10-Q</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">01/10/2014</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.2</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.6</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000164748815000123/ex3_1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to Articles of Incorporation</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">09/30/2015</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.7</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000168316819001995/xenetic_8k-ex0301.htm" STYLE="-sec-extract: exhibit">Certificate of Change</A></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">06/24/2019</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.8</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000168316819001995/xenetic_8k-ex0302.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment</A></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">06/24/2019</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">3.2</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.9</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000166225217000027/ex3_1.htm" STYLE="-sec-extract: exhibit">Amended and Restated Bylaws of Xenetic Biosciences, Inc.</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">8-K</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">2/27/2017</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">3.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.10</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000101968716006927/xenetic_ex0401.htm" STYLE="-sec-extract: exhibit">Form of Common Stock Certificate of the Registrant</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">S-1/A</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">07/14/2016</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">4.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">4.11</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid"><A HREF="http://www.sec.gov/Archives/edgar/data/1534525/000168316819003504/xenetic_def14a.htm" STYLE="-sec-extract: exhibit">Form of Amended and Restated Xenetic Biosciences, Inc. Equity Incentive Plan, effective December 4, 2019</A></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">DEF14A</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">11/08/2019</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">Appendix A</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">5.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">Opinion of Westward Law Group</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">23.1</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">Consent of Marcum LLP</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">23.2</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">Consent of Westward Law Group (included in Exhibit 5.1)</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">24.1&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">Power of Attorney (included on signature page)&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 9.</B></TD><TD><B>UNDERTAKINGS</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>1.<FONT STYLE="font-size: 10pt"> </FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant hereby undertakes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>To
include any prospectus required by section 10(a)(3)&nbsp;of the Securities Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement.&nbsp; Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule&nbsp;424(b)&nbsp;if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>The
Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s
annual report pursuant to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Exchange Act (and, where applicable, each filing
of an employee benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d)&nbsp;of the Exchange Act) that is incorporated
by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered
herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B>Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable.&nbsp; In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant
of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23.1pt">Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Framingham, Commonwealth of Massachusetts, on April 1, 2020.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-variant: small-caps"><B>XENETIC BIOSCIENCES, INC.</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.75pt solid">/s/ James Parslow</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">James Parslow</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">KNOW ALL PERSONS BY
THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jeffrey Eisenberg or James Parslow, and
each of them singly, as his or her true and lawful attorney-in-fact and agent, with the full power of substitution, for him or
her and in his or her name, place or stead, in any and all capacities, to sign any and all amendments to this Registration Statement
(including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Date</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>/S/ JEFFREY EISENBERG</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Jeffrey Eisenberg</P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Chief Executive Officer and Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Principal Executive Officer</I>)</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><U>/S/ JAMES PARSLOW</U><BR>
James Parslow</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Principal Financial Officer, Principal
        Accounting Officer</I>)</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>/S/ GRIGORY BORISENKO</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Grigory Borisenko</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>/S/ JAMES E. CALLAWAY</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">James E. Callaway</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><U>/S/ FIRDAUS JAL DASTOOR<BR> Firdaus Jal Dastoor</U></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>/S/ DMITRY GENKIN</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dmitry Genkin</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Roger Kornberg</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>/S/ ADAM LOGAL</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Adam Logal</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 1, 2020</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">__________________<BR> Alexey Vinogradov</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
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[{"type": "S-8", "sequence": "1", "filename": "xenetic_s8.htm", "description": "FORMS-8", "secsgml_size_bytes": 76988}]
{"company-data": {"conformed-name": "Xenetic Biosciences, Inc.", "cik": "0001534525", "assigned-sic": "2834", "irs-number": "452952962", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-237529", "film-number": "20765862"}, "business-address": {"street1": "40 SPEEN STREET, SUITE 102", "city": "FRAMINGHAM", "state": "MA", "zip": "01701", "phone": "781-778-7720"}, "mail-address": {"street1": "40 SPEEN STREET, SUITE 102", "city": "FRAMINGHAM", "state": "MA", "zip": "01701"}, "former-company": [{"former-conformed-name": "General Sales & Leasing, Inc.", "date-changed": "20130227"}, {"former-conformed-name": "GENERAL AIRCRAFT INC.", "date-changed": "20111108"}]}
As filed with the Securities and Exchange
Commission on April 1, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
Xenetic
Biosciences, Inc.
(Exact name of registrant as specified in
its charter)
Nevada
45-2952962
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
40 Speen Street, Suite 102
Framingham, Massachusetts
01701
(Address of Principal Executive Offices)
(Zip Code)
Amended and Restated Equity Incentive
Plan
(Full titles of the plans)
James F. Parslow
Chief Financial Officer
Xenetic Biosciences, Inc.
40 Speen Street, Suite 102
Framingham, Massachusetts, 01701
(781) 778-7720
(Name, address, including zip code, and
telephone number, including area code, of agent for service)
With a copy to:
Danielle Price
Holland-Knight LLP
701 Brickell Avenue, Suite 3300
Miami, Florida 33131
(305) 374-8500
K. Elisabeth Castro
Westward Law, LLC
3273 E. Warm Springs Rd.
Las Vegas, NV 89120
(702) 701-3945
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
ý
Smaller reporting company
ý
Emerging growth company
¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
¨
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to be Registered (1)
Proposed Maximum
Offering
Price Per Share(2)
Proposed Maximum
Aggregate
Offering Price(2)
Amount of
Registration Fee
Common Stock, par value $0.001 per share
750,000 shares
$0.73
$547,500.00
$71.07
(1)
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of the Registrant's common stock, par value $0.001 (the "Common Stock") that become issuable under the Registrant's Amended and Restated Equity Incentive Plan (the "Amended and Restated EIP") by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of the Registrant's outstanding shares of Common Stock.
(2)
Estimated solely for the purpose of calculating the amount of
        the registration fee pursuant to Rule 457(h) and Rule 457(c) promulgated under the Securities Act. The offering price per share
        and the aggregate offering price are based upon $0.73, which is the average of the high and low prices of the Registrant's
        Common Stock as reported on the NASDAQ Capital Market on March 30, 2020.
EXPLANATORY NOTE
This Registration Statement on Form S-8
is being filed for the purpose of registering an additional 750,000 shares of common stock, par value $0.001 per share (the "Common
Stock") of the Registrant reserved for future issuance under the Xenetic Biosciences, Inc. Amended and Restated Equity Incentive
Plan (the "Amended and Restated EIP"). The additional shares of Common Stock being registered pursuant to the Amended
and Restated EIP are additional securities under the same class as other securities for which registration statements (File No. 333-
218024 & File 333-222272) on Form S-8 were filed with the Securities and Exchange Commission (the "Commission")
on May 16, 2017 and December 22, 2017, respectively (the "Prior Registration Statements"). Pursuant to Instruction
E of Form S-8, the contents of the Prior Registration Statements are incorporated herein by reference.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
The information specified in Item 1
and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of
Rule 428 under the Securities Act. The documents containing the information specified in Part I of Form S-8 will
be delivered to the participants in the plans covered by this Registration Statement as specified by Rule 428(b)(1) under
the Securities Act.
PART II
INCORPORATION OF DOCUMENTS BY REFERENCE
ITEM 3.
INCORPORATION OF DOCUMENTS BY REFERENCE
The following documents filed by the Registrant
with the Commission are incorporated by reference to this Registration Statement:
(a)       The
Registrant's Annual Report on Form 10-K (File No. 001-37937) for the fiscal year ended December 31, 2019, filed with the
Commission on March 26, 2020;
(b)       All
other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), since the end of the fiscal year covered by the Registrant's Annual Report on Form 10-K for the fiscal year
ended December 31, 2019; and
(c)       The
description of the Registrant's Common Stock contained in the Registrant's Registration Statement on Form 8-A/A filed
on November 1, 2016 (File No. 001-37937), under the Exchange Act, including any amendment or report filed for the purpose of updating
such description.
3
All other reports and documents subsequently
filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration
Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
herein and to be a part of this Registration Statement from the date of the filing of such reports and documents; provided, however,
that documents, reports and definitive proxy or information statements, or portions thereof, which are furnished and not filed
in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any subsequently filed document that also is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this Registration Statement.
ITEM 4.
DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5.
INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
ITEM 6.
INDEMNIFICATION OF DIRECTORS AND OFFICERS
Nevada law provides that a Nevada corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed proceeding,
except an action by or in the right of the corporation, by reason of the fact that such person is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of
another corporation or other enterprise, against expenses, including attorneys' fees, judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with the proceeding, if such person:
·
is not liable for breach of his or her fiduciary duties to the corporation; or
·
acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was
unlawful.
In addition, a Nevada corporation may indemnify
any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action by or in the
right of the corporation to procure a judgment in its favor by reason of the fact that such person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or
agent of another corporation or other enterprise against expenses, including amounts paid in settlement and attorneys' fees
actually and reasonably incurred by such person in connection with the defense or settlement of the action, if he or she:
·
is not liable for breach of his or her fiduciary duties to the corporation; or
·
acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the
corporation.
Under Nevada law, indemnification may not
be made for any claim as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all
appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the
extent that a court of competent jurisdiction determines that in view of all the circumstances of the case, the person is fairly
and reasonably entitled to indemnity for such expenses as the court deems proper.
4
To the extent that a director, officer,
employee or agent of a corporation has been successful on the merits or otherwise in defense of any non-derivative proceeding or
any derivative proceeding, or in defense of any claim, issue or matter therein, the corporation shall indemnify such person against
expenses, including attorneys' fees, actually and reasonably incurred in connection with the defense.
Further, Nevada law permits a Nevada corporation
to purchase and maintain insurance or to make other financial arrangements on behalf of any person who is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or
agent of another corporation or other enterprise for any liability asserted against him or her and liability and expenses incurred
by him or her in his or her capacity as a director, officer, employee or agent, or arising out of his or her status as such, whether
or not the corporation has the authority to indemnify such person against such liability and expenses.
Under our charter and bylaws, we are obligated
to indemnify any director, officer, employee or agent of the company to the fullest extent permitted by the Nevada Revised Statues
("NRS"), as described above. We have entered into separate indemnification agreements with our directors and executive
officers, in addition to the indemnification provided for in our charter and bylaws. These agreements, among other things, require
us to indemnify our directors and executive officers who have met the standards of conduct that make it permissible under the NRS
for us to indemnify the claimant for certain expenses, including attorneys' fees, judgments, fines and settlement amounts
incurred by such person in any action or proceeding arising out of their services as one of our directors, officers, employees
or agents, or any of our subsidiaries or any other company or enterprise to which the person provides services at our request.
We believe that these charter and bylaw provisions and indemnification agreements are necessary to attract and retain qualified
persons as directors.
In addition, indemnification is required
to continue as to a person who has ceased to be a director or officer and inures to the benefit of his or her heirs, executors
and administrators. Subject to the exceptions detailed below, we may indemnify a person seeking indemnification in connection with
a proceeding (or part thereof) initiated by the person seeking indemnification only if the proceeding (or part thereof) was authorized
by our board of directors. We may indemnify any employee or agent of us to an extent greater than required by law only if and to
the extent that our directors, in their discretion, may determine.
If we do not pay a claim for indemnification
within 60 days after a written claim has been received by us or pay an advancement of expenses under our bylaws in full within
20 days after a written claim has been received by us, the claimant may bring suit against us to recover the unpaid amount of the
claim and, if successful in whole or in part, the claimant also will be entitled to be paid the expense of prosecuting such claim
to the fullest extent permitted by applicable law. In any such action, we would have the burden of proving that the claimant is
not entitled to the requested indemnification or advancement of expenses.
ITEM 7.
EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
5
ITEM 8.
EXHIBITS
The following exhibits are filed herewith:
Exhibit No.
Exhibit Index
Form
Filing Date
Exhibit Number
Filed Herewith
4.1
Articles of Incorporation
S-1
11/21/2011
3.1
4.2
Certificate of Amendment to Articles of Incorporation
8-K
02/12/2013
3.1
4.3
Certificate of Amendment to Articles of Incorporation
8-K
02/27/2013
3.1
4.4
Certificate of Amendment to Articles of Incorporation
10-Q
01/10/2014
3.1
4.5
Certificate of Change Pursuant to NRS 78.209
10-Q
01/10/2014
3.2
4.6
Certificate of Amendment to Articles of Incorporation
8-K
09/30/2015
3.1
4.7
Certificate of Change
8-K
06/24/2019
3.1
4.8
Certificate of Amendment
8-K
06/24/2019
3.2
4.9
Amended and Restated Bylaws of Xenetic Biosciences, Inc.
8-K
2/27/2017
3.1
4.10
Form of Common Stock Certificate of the Registrant
S-1/A
07/14/2016
4.1
4.11
Form of Amended and Restated Xenetic Biosciences, Inc. Equity Incentive Plan, effective December 4, 2019
DEF14A
11/08/2019
Appendix A
5.1
Opinion of Westward Law Group
X
23.1
Consent of Marcum LLP
X
23.2
Consent of Westward Law Group (included in Exhibit 5.1)
X
24.1
Power of Attorney (included on signature page)
X
6
ITEM 9.
UNDERTAKINGS
1.
The
Registrant hereby undertakes:
(a)
To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To
include any prospectus required by section 10(a)(3) of the Securities Act;
(ii)
To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement.
(iii)
To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;
Provided, however,
that paragraphs
(a)(i) and (a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of
the Exchange Act that are incorporated by reference in the registration statement.
(b)
That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(c)
To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
2.
The
Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated
by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered
herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
3.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant
of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.
7
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Framingham, Commonwealth of Massachusetts, on April 1, 2020.
XENETIC BIOSCIENCES, INC.
By:
/s/ James Parslow
James Parslow
Chief Financial Officer
8
POWER OF ATTORNEY
KNOW ALL PERSONS BY
THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jeffrey Eisenberg or James Parslow, and
each of them singly, as his or her true and lawful attorney-in-fact and agent, with the full power of substitution, for him or
her and in his or her name, place or stead, in any and all capacities, to sign any and all amendments to this Registration Statement
(including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities
and on the dates indicated.
Signature
Title
Date
/S/ JEFFREY EISENBERG
Jeffrey Eisenberg
Chief Executive Officer and Director
(
Principal Executive Officer
)
April 1, 2020
/S/ JAMES PARSLOW
James Parslow
Chief Financial Officer
(
Principal Financial Officer, Principal
        Accounting Officer
)
April 1, 2020
/S/ GRIGORY BORISENKO
Grigory Borisenko
Director
April 1, 2020
/S/ JAMES E. CALLAWAY
James E. Callaway
Director
April 1, 2020
/S/ FIRDAUS JAL DASTOOR
Firdaus Jal Dastoor
Director
April 1, 2020
/S/ DMITRY GENKIN
Dmitry Genkin
Director
April 1, 2020
___________________
Roger Kornberg
Director
/S/ ADAM LOGAL
Adam Logal
Director
April 1, 2020
__________________
Alexey Vinogradov
Director
9