0001493152-26-045076.txt : 20260930 0001493152-26-045076.hdr.sgml : 20260930 20260930141818 ACCESSION NUMBER: 0001493152-26-045076 CONFORMED SUBMISSION TYPE: 1-A PUBLIC DOCUMENT COUNT: 22 FILED AS OF DATE: 20260930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Altivera Vision Inc. CENTRAL INDEX KEY: 0002154249 ORGANIZATION NAME: EIN: 394696027 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 1-A SEC ACT: 1933 Act SEC FILE NUMBER: 024-12821 FILM NUMBER: 261426707 BUSINESS ADDRESS: STREET 1: 8 THE GREEN, SUITE B, CITY: DOVER STATE: DE ZIP: 19901 BUSINESS PHONE: 000-000-0000 MAIL ADDRESS: STREET 1: 8 THE GREEN, SUITE B, CITY: DOVER STATE: DE ZIP: 19901 1-A 1 primary_doc.xml 1-A LIVE 0002154249 XXXXXXXX Altivera Vision Inc. DE 2025 0002154249 8011 39-4696027 2 0 8 The Green, Suite 26492 Dover DE 19901 302-495-3308 Geoffrey Ashburne Other 150000.00 0.00 0.00 0.00 213000.00 0.00 0.00 546370.00 -333370.00 213000.00 0.00 0.00 0.00 -333370.00 0.00 0.00 Artesian CPA, LLC Class A Common Stock 200000000 000000000 N/A N/A 0 000000000 N/A Promissory Note 1396370 000000000 N/A true true Tier2 Audited Equity (common or preferred stock) Y Y N Y N N 85714286 0 0.2800 20400000.00 0.00 0.00 0.00 20400000.00 DealMaker Securities LLC 46750.00 DealMaker Securities LLC 918000.00 Artesian CPA, LLC 10500.00 CrowdCheck Law, LLP 55000.00 000315324 19369750.00 Does not include all anticipated offering expenses, including, but not limited to, EDGARization expenses. true AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC PR AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC PR Altivera Vision Inc. Class A Common Stock 200000000 197674418 $20,000.00 N/A Section 4(a)(2) PART II AND III 2 partiiandiii.htm PART II AND III

 

AN OFFERING STATEMENT PURSUANT TO REGULATION A RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. INFORMATION CONTAINED IN THIS PRELIMINARY OFFERING CIRCULAR IS SUBJECT TO COMPLETION OR AMENDMENT. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED BEFORE THE OFFERING STATEMENT FILED WITH THE COMMISSION IS QUALIFIED. THIS PRELIMINARY OFFERING CIRCULAR SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR MAY THERE BE ANY SALES OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL BEFORE REGISTRATION OR QUALIFICATION UNDER THE LAWS OF SUCH STATE. THE COMPANY MAY ELECT TO SATISFY ITS OBLIGATION TO DELIVER A FINAL OFFERING CIRCULAR BY SENDING YOU A NOTICE WITHIN TWO BUSINESS DAYS AFTER THE COMPLETION OF THE COMPANY’S SALE TO YOU THAT CONTAINS THE URL WHERE THE FINAL OFFERING CIRCULAR OR THE OFFERING STATEMENT IN WHICH SUCH FINAL OFFERING CIRCULAR WAS FILED MAY BE OBTAINED.

 

PRELIMINARY OFFERING CIRCULAR

DATED SEPTEMBER 30, 2026

 

Altivera Vision Inc.

 

8 The Green, Suite 26492

Dover, DE, 19901

 

(302) 495 3308

 

Altiveravision.com

 

Up to

85,714,286 shares of Class B Common Stock(1)

 

We are offering, on a “best efforts” basis, a maximum of 85,714,286 shares of Class B Common Stock, composed of 71,428,571 shares to be offered directly for cash consideration of up to $20,000,000 and a maximum of 14,285,715 shares to be issued as “Bonus Shares” for no additional cash consideration to eligible investors in this offering based on certain criteria.

 

The minimum investment in this offering is $999.88, or 3,571 shares of Class B Common Stock, plus an investor fee equal to 2.0% or $20.00; however, the Company may accept subscriptions for a lower amount and waive its investor fee in its sole discretion.

 

  

Price Per

Share to

the Public(1)

  

Underwriting

Discounts and

Commissions, per

share(2)

  

Proceeds to

Company

Before

Expenses

 
Per Share of Class B Common Stock(4)  $0.280   $0.013   $0.267 
Investor Fee Per Share(3)  $0.006   $0.001   $0.005 
Per Share Plus Investor Fee  $0.286   $0.014   $0.273 
Total Maximum Including Investor Fee  $20,400,000(5)  $964,750   $19,435,250 
Total Maximum Including Value of Bonus Shares and Investor Fee  $24,400,000(6)  $964,750   $19,435,250 

 

(1) The Company is offering up to 71,428,571 shares of Class B Common Stock directly to investors (the “Cash Shares”) for up to a maximum of $20,000,000 plus up to 14,285,715 additional shares of Class B Common Stock eligible to be issued as Bonus Shares to eligible investors at no additional charge based certain criteria.

 

 

 

 

(2) The Company has engaged DealMaker Securities, LLC, member FINRA/SIPC (“Broker” or “DealMaker” or “Dealmaker Securities”), as broker-dealer of record, to perform broker-dealer administrative and compliance related functions in connection with this Offering. The Broker does not purchase any securities from the issuer with a view to sell those for the issuer as part of the distribution of the security. The Broker and its affiliate are performing services and there will be accountable expenses of $28,750 charged to the Company. Once the Commission has qualified the Offering Statement and this Offering commences, Broker will receive a cash commission equal to four and a half percent (4.5%) of the amount raised in the Offering based on its sales. Broker’s affiliate will receive additional compensation of $18,000. Neither the Broker nor its affiliates are charging compensation on Bonus Shares that are issued. See “Plan of Distribution” for more details. In the case of a fully subscribed offering in which all investments are made through Broker, the maximum amount the Company would pay Broker and its affiliate is $964,750 in underwriting compensation. To the extent that the Company’s officers and directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and, therefore, none of them is required to register as a broker-dealer.
   
(3) Investors will be responsible for a transaction fee equal to two percent (2%) of the purchase price for shares of Class B Common Stock paid at the time of investment (the “Investor Fee”). Broker will receive commissions on the Investor Fee. If fully subscribed, this would represent a maximum commission of $18,000. See Plan of Distribution and for additional discussion of this Investor Fee. We note that the Investor Fee will only be based on the purchase price for shares in this Offering, and therefore will not be affected by any Bonus Shares investors receive in this Offering. All investments will have a maximum Investor Fee of $200.00, which represents the fee for a $10,000 investment.
   
(4) Does not include effective discount that would result from the issuance of Bonus Shares. For details of the effective discount, see “Plan of Distribution”
   
(5) The total maximum gross offering proceeds that the Company may receive in this Offering is $20,400,000 (which includes the Investor Fees of $400,000).
   
(6)

While the Company will not receive any additional consideration for the Bonus Shares issued as part of this Offering, pursuant to Rule 251(a), the total value of this Offering is $24,400,000 comprised of $20,000,000 in actual proceeds to the Company from investors, $400,000 from the Investor Fee, and the value of the Bonus Shares of $4,000,000. 

 

Bonus Shares are available to investors based on the criteria discussed below under “Plan of Distribution.” Investors will pay full price for their securities, and if eligible may receive Bonus Shares equal to an amount that is 5% to 20% of the number of shares purchased. Those investors not eligible for the maximum value of Bonus Shares will experience additional dilution compared to investors receiving the maximum number of Bonus Shares.

 

The Company is selling shares of Class B Common Stock.

 

This offering (the “Offering”) will terminate at the earlier of the date at which the maximum offering amount has been sold or the date at which the offering is earlier terminated by the Company at its sole discretion. At least every 12 months after this Offering has been qualified by the United States Securities and Exchange Commission, the Company will file a post-qualification amendment to include the Company’s recent financial statements. The Offering covers an amount of securities that we reasonably expect to offer and sell within two years, although the Offering Statement of which this Offering Circular forms a part may be used for up to three years and 180 days under certain conditions.

 

This Offering does not have a minimum offering amount. The Company will not utilize a third-party escrow account for this offering, and all funds tendered by investors will be held in a segregated account until investor subscriptions are accepted by the Company and reviewed by DealMaker Securities. Once investor subscriptions are accepted by the Company and reviewed by DealMaker Securities, funds will be deposited into an account controlled by the Company.

 

THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION DOES NOT PASS UPON THE MERITS OR GIVE ITS APPROVAL OF ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THESE SECURITIES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE COMMISSION; HOWEVER, THE COMMISSION HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE SECURITIES OFFERED ARE EXEMPT FROM REGISTRATION.

 

GENERALLY, NO SALE MAY BE MADE TO YOU IN THIS OFFERING IF THE AGGREGATE PURCHASE PRICE YOU PAY IS MORE THAN 10% OF THE GREATER OF YOUR ANNUAL INCOME OR NET WORTH. DIFFERENT RULES APPLY TO ACCREDITED INVESTORS AND NON-NATURAL PERSONS. BEFORE MAKING ANY REPRESENTATION THAT YOUR INVESTMENT DOES NOT EXCEED APPLICABLE THRESHOLDS, WE ENCOURAGE YOU TO REVIEW RULE 251(d)(2)(i)(c) OF REGULATION A. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU TO REFER TO www.investor.gov.

 

This Offering is inherently risky. See “Risk Factors” on page 3.

 

Sales of these securities commenced on approximately [_________]

 

The Company is following the “Offering Circular” format of disclosure under Regulation A.

 

The Company has elected to delay complying with any new or revised financial accounting standard until the date that a company that is not an issuer (as defined under section 2(a) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7201(a)) is required to comply with such new or revised accounting standard, if such standard also applies to companies that are not issuers.

 

 

 

 

SUMMARY 1
   
RISK FACTORS 3
   
DILUTION 11
   
USE OF PROCEEDS TO ISSUER 13
   
OUR BUSINESS 14
   
THE COMPANY’S PROPERTY 26
   
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27
   
DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES 31
   
COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS 32
   
SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS 33
   
INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS 34
   
SECURITIES BEING OFFERED 36
   
PLAN OF DISTRIBUTION AND SELLING SECURITY HOLDERS 37
   

FINANCIAL STATEMENTS AS OF DECEMBER 31, 2025 AND FOR THE PERIOD FROM JULY 7 2025 (INCEPTION) THROUGH DECEMBER 31, 2025

F-1

 

 

 

 

Implications of Applicable Accounting and Reporting Requirements

 

The Company is not subject to the ongoing reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) because it is not registering its securities under the Exchange Act. Rather, it will be subject to the more limited reporting requirements under Regulation A, including the obligation to electronically file:

 

  ● annual reports (including disclosure relating to the company’s business operations for the preceding three fiscal years, or, if in existence for less than three years, since inception, related party transactions, beneficial ownership of the issuer’s securities, executive officers and directors and certain executive compensation information, management’s discussion and analysis (“MD&A”) of the issuer’s liquidity, capital resources, and results of operations, and two years of audited financial statements),
  ● semi-annual reports (including disclosure primarily relating to the issuer’s interim financial statements and MD&A) and
  ● current reports for certain material events.

 

In addition, at any time after completing reporting for the fiscal year in which this offering statement was qualified, if the securities of each class to which this offering statement relates are held of record by fewer than 300 persons and offers or sales are not ongoing, the company may immediately suspend the Company’s ongoing reporting obligations under Regulation A.

 

If and when the Company becomes subject to the ongoing reporting requirements of the Exchange Act, as an issuer with less than $1.07 billion in total annual gross revenues during its last fiscal year, it will qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and this status will be significant. An emerging growth company may take advantage of certain reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. In particular, as an emerging growth company it:

 

  ● will not be required to obtain an auditor attestation on its internal controls over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;
     
  ● will not be required to provide a detailed narrative disclosure discussing its compensation principles, objectives and elements and analyzing how those elements fit with its principles and objectives (commonly referred to as “compensation discussion and analysis”);
     
  ● will not be required to obtain a non-binding advisory vote from its shareholders on executive compensation or golden parachute arrangements (commonly referred to as the “say-on-pay,” “say-on-frequency” and “say-on-golden-parachute” votes);
     
  ● will be exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;
     
  ● may present only two years of audited financial statements and only two years of related Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A; and
     
  ● will be eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards.

 

The Company intends to take advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or revised financial accounting standards under Section 107 of the JOBS Act. The company’s election to use the phase-in periods may make it difficult to compare its financial statements to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under Section 107 of the JOBS Act.

 

Under the JOBS Act, the Company may take advantage of the above-described reduced reporting requirements and exemptions for up to five years after the company’s initial sale of common equity pursuant to a registration statement declared effective under the Securities Act of 1933, as amended, or such earlier time should it no longer meet the definition of an emerging growth company. Note that this offering, while a public offering, is not a sale of common equity pursuant to a registration statement, since the offering is conducted pursuant to an exemption from the registration requirements. In this regard, the JOBS Act provides that the Company would cease to be an “emerging growth company” if the Company has more than $1.07 billion in annual revenues, has more than $700 million in market value of its common stock held by non-affiliates, or issues more than $1 billion in principal amount of non-convertible debt over a three-year period.

 

Certain of these reduced reporting requirements and exemptions are also available to the Company due to the fact that it may also qualify, once listed, as a “smaller reporting company” under the Commission’s rules. For instance, smaller reporting companies are not required to obtain an auditor attestation on their assessment of internal control over financial reporting; are not required to provide a compensation discussion and analysis; are not required to provide a pay-for-performance graph or CEO pay ratio disclosure; and may present only two years of audited financial statements and related MD&A disclosure.

 

 

 

 

SUMMARY

 

The following summary of certain information contained in this Offering Circular is not intended to be complete in itself. The summary does not provide all the information necessary for you to make an investment decision. You are encouraged to review the more detailed information in the remainder of the Offering Circular.

 

As used in this Offering Circular, unless the context otherwise requires, the terms “Company”, “Altivera”, “ AVI”, “we”, “our” and “us” refer to Altivera Vision Inc. unless the context indicates otherwise.

 

THIS OFFERING CIRCULAR MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

 

Altivera Vision Company Overview

 

Altivera Vision Inc. was formed on July 7, 2025 and its indirectly wholly owned subsidiary, Altivera Vision Management, LLC, was formed on March 20, 2026 to scale ophthalmic vision-care practices across the United States. Altivera intends to combine proprietary technology with custom-built workflows and AI-driven marketing playbooks to elevate patient conversion, drive premium procedure volume, and scale practice revenues. Under a Corporate Practice of Medicine (“CPOM”)-compliant approach, Altivera intends to execute this model through the Company’s indirectly wholly owned management services organization subsidiary, Altivera Vision Management LLC (the “MSO”) which will acquire all the non-clinical assets of, and establish long-term Management Services Agreements (“MSAs”) with, each practice (the “Practice or Practices”) joining its AI-enabled marketing and management platform designed to support ophthalmology practices, increase elective and premium surgical volume, improve practice-level and platform margins, and build long-term enterprise value (the “Platform”). This allows the MSO to secure control over non-clinical operations and capture a majority of the practice’s economics while physician partners retain clinical autonomy and aligned equity.

 

Incorporated in Delaware as a majority-owned affiliate of RAD Technologies Inc. (“RAD Intel”), the Company secured exclusive licenses to RAD Intel’s audience intelligence platform under a Software License Agreement, effective September 1, 2026. The Company has also entered into a Managed Services Agreement with RAD Intel, effective September 1, 2026, whereby RAD Intel provides accounting, human resources, information technology, and strategic and executive management support services to the Company, in exchange for cost-plus and revenue-based fees described below. See “Interest of Management and Others in Certain Transactions” for a complete description of the terms of these agreements.

 

1

 


 

Offering Terms

 

Securities Offered by the Company   Maximum of 71,428,571 shares of Class B Common Stock at $0.28 per share for up to $20,000,000, plus up to 14,285,715 additional shares of Class B Common Stock eligible to be issued as Bonus Shares for no additional consideration. See “Plan of Distribution” for more information on the eligibility criteria to receive Bonus Shares, which will only be offered to investors in this Offering.
     
Minimum Investment   The minimum investment in this offering is $999.88, or 3,571 shares of Class B Common Stock.
     
Securities outstanding before the Offering (as of September 30, 2026):    
     
Class A Common Stock   200,000,000
     
Class B Common Stock   0
     
Securities outstanding after the Offering (assuming the maximum number of shares of Class B Common Stock are sold and/or issued in this offering).    
     
Class A Common Stock   200,000,000
     
Class B Common Stock   85,714,286
     
Use of Proceeds  

The proceeds of this Offering will be used for investments, operations, repayment of certain related party loans, and marketing. See the “Use of Proceeds” section of this Offering Circular for further details.

 

2

 

 

RISK FACTORS

 

The SEC requires the Company to identify risks that are specific to its business and its financial condition. The Company is still subject to all the same risks that all companies in its business, and all companies in the economy, are exposed to. These include risks relating to economic downturns, political and economic events, healthcare policy shifts, and technological developments (such as cyber-attacks and data breaches). Additionally, early-stage companies are inherently riskier than more developed companies. You should consider general risks as well as specific risks when deciding whether to invest.

 

Risks Related To Our Company and its Operations

 

We are a pre-revenue company with no operating history.

 

The Company was formed on July 7, 2025, and has not yet generated revenue or demonstrated proof of concept at scale. There is no historical financial or operational data upon which prospective investors can evaluate our performance, business model, or long-term prospects. Our survival depends entirely on our ability to successfully execute our management services organization (“MSO”) business model, secure long-term management agreements with ophthalmology practices, and integrate patient marketing platforms to drive revenue expansion, none of which have been established or proven yet. Pre-revenue companies fail at a significantly higher rate than established operating businesses.

 

Our majority owner has no obligation to ensure the financial viability of the Company.

 

Altivera is currently majority owned by RAD Intel. RAD Intel has had more extensive operating and capital raising history than the Company. Further, the Company has entered into certain agreements with RAD Intel that are described more fully below. However, RAD Intel has no obligations to provide further financial support to the Company, or to ensure its financial viability. As a result, investors are placing their full faith in the ability of the Company and its management to achieve the goals set out by the Company as discussed in “Our Business” and “Management’s Discussion and Analysis—Plan of Operations” below.

 

Our audited financial statements have been prepared on a going concern basis.

 

Because the Company has not generated operating revenues and expects to incur significant operational, legal, and integration expenses prior to achieving positive cash flow, our financial statements reflect substantial doubt about our ability to continue as a going concern. Our ability to survive over the next twelve months depends entirely on our ability to raise sufficient capital through equity or debt offerings and successfully deploy that capital into income-generating practice partnerships.

 

We hold no proprietary technology and rely entirely on intellectual property exclusively licensed from our majority-owner and parent company.

 

The Company does not own any proprietary technology, artificial intelligence, software source code, or patented algorithms. Our AI-driven patient marketing and lead-generation tools depend entirely on an exclusive license agreement with our majority equity holder and parent company, RAD Technologies Inc. (“RAD Intel”). The terms of this license agreement were not negotiated on an arm’s length basis, and as such, there is a risk that the terms of this agreement are not as favorable to our Company as they would have been if the agreement had been negotiated with a third party at arm’s length. Further, if our license agreement with RAD Intel is terminated, disputed, or modified on unfavorable terms, or if RAD Intel fails to properly maintain, update, or protect its underlying technology stack (including the Lickly platform), our operational differentiation and ability to drive patient volume would be severely compromised.

 

3

 

 

Our AI-enabled patient acquisition systems are in early stages and may not perform as intended.

 

Our patient growth strategy assumes that applying RAD Intel’s audience intelligence, Lickly’s micro-community targeting and commercial execution to ophthalmology practices will materially increase surgical volume and margin performance. These technologies have not been widely deployed or validated across independent ophthalmology practices at scale. If these systems produce inaccurate targeting, fail to generate qualified leads, or fail to convert prospective patients into scheduled surgical bookings, our value creation playbook will fail to achieve anticipated returns.

 

We rely on a small management team and key clinical leaders to execute our business strategy.

 

Our success depends heavily on the personal reputations, networks, and industry relationships of a limited leadership team, including CEO Steven Silver, President and CMO Dr. Jeffrey Machat, CFO Deon Kibel, and Vice President of Business Development Alan Arnstein. Dr. Machat’s reputation in the ophthalmic surgical community is critical for establishing trust with prospective physician partners. The loss of any key executive could severely hinder our ability to source partnership targets, negotiate MSO agreements, raise capital, and onboard practices.

 

Defects, errors, or outages in our scheduling, reminder, and patient-communication technology could contribute to clinical disruption and expose us to liability, even though we do not exercise clinical judgment.

 

Our CRM and patient-journey tools automate appointment scheduling, confirmation and reminder sequences, and pre- and post-operative communications and care management for our Practices. Because these systems affect whether and when patients receive care, defects, errors, outages, or miscalibration — including in the underlying AI models or automation logic — could cause a patient to miss a scheduled appointment, reminder, or follow-up communication, including for time-sensitive ophthalmic conditions where delay could result in irreversible vision loss. Although physicians retain sole clinical authority and our technology does not make or influence clinical determinations, we could still face claims of negligence in the design, implementation, or oversight of this technology, indemnification claims from Practices under our MSAs, or agency or apparent-authority theories, any of which could result in damages, reputational harm, loss of Practice relationships, and costs not fully covered by insurance.

 

Risks Related To Our M&A, Practice Acquisition, and Partnership Strategy

Our growth model depends entirely on management relationships with independent ophthalmology practices and ASCs, which we may fail to execute.

 

Altivera’s enterprise value creation model relies on sourcing, negotiating, and closing long-term management contracts with established, surgeon-led practices. There is no guarantee that we will locate suitable targets, that target ophthalmology practices will be willing to enter into long-term management agreements, or that practice valuations will remain acceptable. If our pipeline stalls, our business strategy cannot succeed.

 

Letters of Intent (LOIs) are non-binding and may not result in closed partnerships.

 

Initial practice partnership opportunities typically begin with non-binding Letters of Intent (LOIs). Non-binding LOIs do not obligate target practices or physician owners to execute definitive management agreements. Prospective physician partners may abandon negotiations, accept competing offers from private equity platforms, or fail due diligence. As of the date of this Offering Circular, the Company holds no non-binding LOIs nor is it engaged in any discussions to acquire non-clinical assets from, or enter into, MSAs with any practices, or acquire any affiliated ASC’s for acquisition.

 

4

 

 

We face intense competition for practice acquisitions from well-capitalized private equity platforms and health systems.

 

The consolidation of independent ophthalmology practices is a highly competitive market dominated by private equity-backed MSOs, large hospital networks, and strategic acquirers. Many of these competitors possess significantly greater financial resources, longer operating track records, established capital markets access, and larger existing footprints than Altivera. These competitors may outbid us for prime practices or offer more favorable liquidity terms to selling physicians, if applicable, foreclosing key regional expansion opportunities.

 

Integration of managed practices carries substantial execution risk.

 

Integrating managed practice operations into a centralized MSO platform involves significant friction, including unifying legacy billing systems, retraining clinical staff on best-practice consultation workflows, and aligning practice cultures. Disruptions during the onboarding process can cause operational backlogs, staff turnover, patient loss, and reduced surgical capacity, impairing the financial performance of the managed practice.

 

We depend on key physicians and surgeons remaining with the practice during our management relationship.

 

Surgical volume and practice revenue are directly tied to the skill, reputation, and clinical capacity of the individual ophthalmic surgeons in each partner practice. While our MSO model leaves physicians with meaningful retained equity and economic upside, the loss, retirement, or disability of a primary surgeon could lead to an immediate, material drop in practice revenue and operating margins and, thus, impair the practice’s ability to pay a fair market value management fee to the MSO.

 

Even if we successfully enter into a management services agreement and/or equity relationship with a practice, there is no assurance that the practice will become or remain successful or profitable.

 

Our growth strategy assumes that Practices affiliated with our platform will achieve increased patient volume, premium procedure mix, and operating margins as a result of our management and marketing services. These anticipated improvements depend on numerous factors outside our control, including local market demand, competition, physician performance and productivity, reimbursement rates, and general economic conditions, and we cannot assure you that any Practice will realize the anticipated benefits of our platform, or that it will be profitable at all, even if we successfully complete the transaction and integration process.

 

Risks Related to Healthcare, Regulation, and Data Security

 

Changes in healthcare reimbursement rates could adversely impact practice margins.

 

While Altivera will emphasize high-margin, cash-pay elective procedures (such as premium IOLs and refractive surgery), the practices we intend to manage will remain reliant on commercial insurance, Medicare, and Medicaid reimbursement for core diagnostic and cataract procedures. Reductions in government reimbursement schedules, changes to coverage policies, or payor pushback could erode practice-level margins and impair overall MSO fee collections.

 

Data security breaches involving Protected Health Information (PHI) could create severe legal liability.

 

Altivera’s technology workflows ingest and manage sensitive patient communications, scheduling data, and marketing records across partner practices. Compliance with the Health Insurance Portability and Accountability Act (HIPAA) and state privacy mandates is complex and costly. A breach of our CRM infrastructure or marketing databases could expose the Company to major regulatory fines, civil litigation, reputational damage, and loss of partner practice trust.

 

5

 

 

We operate in a complex, highly regulated healthcare environment, and compliance failures across partner practices could materially harm our operations.

 

Although Altivera does not directly provide medical care, diagnose patients, perform surgical procedures, or employ physicians, the partner ophthalmology practices and ambulatory surgery centers that we seek to support (“ASCs”) operate in a heavily regulated industry. These operations are governed by extensive federal, state, and local laws covering practice ownership, licensure, third-party reimbursement, fraud and abuse, marketing, and data privacy. Changes in laws, regulatory interpretations, or enforcement priorities may require costly modifications to our business model, limit regional expansion, or increase ongoing legal and compliance overhead.

 

Federal and state healthcare fraud, waste, and abuse laws create significant legal exposure and potential penalties.

 

Practices participating in federal and state programs (such as Medicare and Medicaid) are subject to the federal Anti-Kickback Statute, the Stark Law, the federal False Claims Act, and analogous state laws. The Anti-Kickback Statute prohibits offering or receiving remuneration to induce referrals for items or services covered by federal healthcare programs, while the Stark Law strictly limits physician referrals for designated health services to entities with which the physician has a financial relationship. While we structure our operations to comply with these statutory requirements, non-compliance—whether by Altivera or our partner practices—could result in substantial civil or criminal monetary penalties, exclusion from government healthcare programs, repayment obligations, and severe reputational damage.

 

Changes in Medicare, Medicaid, and commercial reimbursement rates could compress practice margins and reduce management fee revenue.

 

The financial viability of partner ophthalmology practices depends significantly on reimbursement from commercial insurers, Medicare, and Medicaid for core diagnostic and surgical procedures. Payor reimbursement schedules, coverage policies, coding rules, and documentation standards are frequently revised by government agencies and private payors. Reductions in reimbursement rates or heightened audit scrutiny could erode practice margins, impairing the practice’s ability to pay management fees to Altivera.

 

Failure to comply with HIPAA and healthcare privacy regulations could expose us to severe regulatory liability and operational friction.

 

Under the Health Insurance Portability and Accountability Act (“HIPAA”) and the HITECH Act, strict privacy and cybersecurity standards govern Protected Health Information (“PHI”). Because Altivera’s platforms ingest and manage patient scheduling, communications, and marketing records, we may be classified as a Business Associate subject to HIPAA statutory mandates and mandatory Business Associate Agreements (“BAAs”). A data breach or failure to comply with HIPAA privacy standards could trigger government investigations, hefty fines, contractual disputes, and loss of partner trust.

 

Evolving state privacy and consumer data protection laws impose increasing operational and cybersecurity costs.

 

Comprehensive state privacy laws governing consumer data collection, retention, and processing apply to our AI-driven marketing and patient-acquisition activities. Complying with evolving state privacy rules and consumer request rights requires continuous software updates, operational security measures, and third-party vendor oversight, increasing our long-term technology operating costs.

 

6

 

 

Healthcare advertising and consumer protection regulations subject our marketing and lead-generation activities to regulatory scrutiny.

 

Our patient-growth model relies heavily on digital marketing, targeted lead generation, and patient engagement platforms. These activities are regulated by the Federal Trade Commission (“FTC”), state attorneys general, and healthcare advertising boards. False advertising claims, unverified clinical outcomes, deceptive trade practices, or non-compliant physician testimonials could expose the company to regulatory enforcement actions, mandatory corrective marketing, or monetary fines.

 

Ambulatory Surgery Center (“ASC”) regulations impose distinct operational and licensure burdens on our expansion strategy.

 

Partner practices that operate or maintain relationships with ASCs must comply with facility licensure, Medicare certification, accreditation standards, and specialized fraud and abuse provisions. If Altivera acquires equity ownership in ASCs where legally permissible, we will become subject to these facility-level regulatory obligations. Any revocation of an ASC’s license or accreditation would directly diminish surgical volume and management revenues.

 

Physician licensure, scope of practice, and telehealth regulations could restrict clinical delivery and patient throughput.

 

Physicians within partner practices must maintain active state medical licenses and credentials. Any virtual consultations or telehealth operations offered through partner platforms are subject to federal and state telehealth prescribing, licensure, and recordkeeping laws. Shifts in telehealth rules or licensing friction could restrict clinical service delivery, harming patient volume and overall financial performance of partner practices we have a vested interest in, which could negatively affect our results of operations.

 

Rapid and unpredictable legislative developments in healthcare regulation could adversely affect our long-term business strategy.

 

Healthcare delivery laws, MSO structural rules, corporate ownership limits, and corporate transparency frameworks continue to evolve at both state and federal levels. Unforeseen statutory amendments or administrative enforcement shifts could render our management structures non-compliant or prohibitively expensive to maintain, requiring significant operational reorganizations.

 

7

 

 

Corporate Practice of Medicine and healthcare entity ownership restrictions may limit our ability to execute Management Services Agreements or force costly operational restructurings.

 

Many states maintain Corporate Practice of Medicine (“CPOM”) doctrines and related laws that generally prohibit non-physicians or non-professional entities from owning, controlling, or exercising any influence over the clinical practice of medicine. These laws ensure medical decisions remain under the exclusive authority of licensed physicians. Our MSO model is structured to enter into Management Services Agreements (“MSAs”) with ophthalmology practices and ASCs where physician partners retain 100% ownership and clinical control, while Altivera provides non-clinical management, technology, marketing, and administrative support for a fair market value fee. However, CPOM laws vary significantly by jurisdiction and continue to evolve. If regulatory authorities determine that our arrangements constitute the unauthorized practice of medicine or violate CPOM rules, we could face substantial administrative fines, voided contracts, or mandatory structural divestitures, which would adversely affect our growth and financial condition.

 

State fee-splitting restrictions may prohibit certain compensation structures and increase compliance costs.

 

Many states restrict arrangements where a licensed practitioner shares professional fees with non-practitioners. These fee-splitting prohibitions are closely tied to CPOM rules and can limit allowable compensation structures between medical practices, ASCs, and management companies. For example, states such as New York prohibit management fees structured as a percentage of practice or ASC revenue. While we intend to structure all management arrangements to comply with fee-splitting laws and obtain independent third-party Fair Market Value (“FMV”) opinions for all fee structures, limited judicial and regulatory guidance creates inherent uncertainty. Any regulatory determination that our management fee structures violate fee-splitting prohibitions could result in heavy fines, contract invalidation, or forced restructuring.

 

Uncertainties and emerging regulatory frameworks surrounding Artificial Intelligence may disrupt our core technology stack and patient-acquisition strategies.

 

We intend to utilize AI and machine-learning technologies for patient acquisition, digital marketing, lead scoring, workflow optimization, and analytics. Federal and state policymakers are rapidly evaluating new laws governing artificial intelligence, automated decision-making systems, algorithmic transparency, and consumer protection. New AI-related legal requirements could increase compliance costs, restrict the deployment of our core systems, require modifications to our software stack, or subject our marketing activities to heightened oversight by the FTC and state attorneys general.

 

We operate in a highly competitive and consolidating ophthalmology MSO market dominated by larger, well-capitalized competitors, and we may be unable to compete successfully for practice partnerships, physicians, management talent, or capital.

 

The U.S. ophthalmology MSO and consolidation sector includes numerous large, well-established, and well-capitalized private-equity-backed platforms, many of which have significantly greater financial resources, longer operating histories, broader geographic footprints, and more established physician and payor relationships than we do. These and other competitors compete with us for the same limited pool of attractive practice partnership opportunities, physician relationships, ASC affiliations, experienced management talent, and access to capital, and some may be willing or able to offer more favorable economic terms, greater operational autonomy, or more attractive equity rollover opportunities to physicians than we can offer. Because we have not yet identified or entered into agreements with any target Practices or ASCs, and because our differentiated technology platform is unproven at scale, we may be at a competitive disadvantage in attracting physician partners relative to more established competitors, which could limit our ability to grow our platform, achieve the scale necessary to realize our anticipated cost and marketing efficiencies, or achieve the returns anticipated by investors in this offering.

 

Risks Related to the Securities in this Offering

 

Our valuation and offering price have been established internally and are difficult to assess.

 

The Company has set the price of its Class B Common Stock at $0.28 per share. In addition, investors will pay a 2.0% Investor Fee, which is capped at a maximum of $200 per transaction. This fee is intended to offset third-party administrative and transaction processing costs. Including this fee increases the effective price you pay per share for your investment. The valuation for this offering was established internally by the Company and has not been validated by an independent third-party appraisal or arm’s-length negotiation. Valuations for early-stage MSOs and technology-enabled platforms are inherently speculative, and you risk overpaying for your investment.

 

There is no guarantee of return on investment.

 

There is no assurance that a purchaser will realize a return on its investment or that it will not lose its entire investment. For this reason, you should not invest in this Offering if you are unable to withstand losing your entire investment. Each purchaser should read this Offering Circular and all exhibits carefully and should consult with its own attorney and business advisor prior to making any investment decision.

 

8

 

 

Our potential issuance of Bonus Shares may result in a discounted offering price being paid by certain investors in this Offering.

 

Certain investors may be entitled to Bonus Shares in this Offering, which results in an effective discount on any shares purchased. These shares will immediately dilute the value of your shares. Therefore, the value of shares of investors who pay the full price in this Offering will be diluted by investments made by investors entitled to these shares, who will effectively pay less per share. Investors may also suffer immediate dilution if they qualify for a lesser amount of Bonus Shares than other investors, who will effectively pay less per share.

 

There is no current market for any shares of the Company’s stock.

 

There is currently no formal marketplace for the resale of the Company’s Class B Common Stock. Investors should assume that they may not be able to liquidate their investment for an indefinite period or pledge their shares as collateral. If an investor seeks to find a secondary buyer for resale of their securities, without an existing trading market establishing a market price for the securities, the investor may not be able to find a purchaser that values the securities at the same price. The Company currently has no plans to list any of its shares on any OTC or similar exchange. It is also unlikely that the Company will ever go public or get acquired by a bigger company. That means the money you paid for these securities could be tied up for a long time.

 

This is a “best-efforts” offering with no minimum raise requirement.

 

This offering is being conducted on a “best-efforts” basis with no minimum raise amount set as a condition to closing, and funds received will not be deposited into a third-party escrow account prior to their release to the Company. This means that we will accept and have access to funds as they are received, but we may never raise enough to execute the business plan or even cover the costs of the Offering. The Company will have immediate access to any funds tendered by investors to pay offering expenses and operational costs. If we manage to raise only a fraction of the maximum offering amount of $20,000,000, we will lack adequate working capital to execute practice acquisitions, deploy licensed AI platforms, or sustain overhead operations.

 

Investors in this Offering are purchasing Securities with No Voting Rights.

 

The Class B Common Stock that we are offering to investors in this offering has no voting rights. This means that you will have no rights in dictating on how the Company will be run. You are trusting that the Company will make good business decisions that will grow your investment.

 

Investors are subject to dilution from future equity issuances and acquisition-related share consideration.

 

Executing our M&A strategy will require issuing equity securities as partial purchase consideration to seller physicians, rewarding key management under equity incentive plans, and raising subsequent growth capital. These future issuances will potentially dilute the ownership percentages, and economic interests of investors participating in this offering.

 

The Company’s management has discretion as to use of proceeds.

 

The proceeds from this Offering will be used for the purposes described under “Use of Proceeds.” The Company reserves the right to use the funds obtained from this Offering for other similar purposes not presently contemplated which it deems to be in the best interests of the Company and its investors in order to address changed circumstances or opportunities. As a result of the foregoing, the success of the Company will be substantially dependent upon the discretion and judgment of management with respect to application and allocation of the net proceeds of this Offering. Investors for the Class B Common Stock hereby will be entrusting their funds to the Company’s management, upon whose judgment and discretion the investors must depend.

 

The Company’s future fundraising may affect the rights of investors.

 

In order to expand, the Company is likely to raise funds again in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the Company. The Company may also offer securities with rights that are preferential to the Class B Common Stock in this Offering.

 

9

 

 

The Investor Fee may not count toward your cost basis for tax purposes.

 

The IRS and/or another relevant tax authority may consider the price of the share before including the Investor Fee as the cost basis for determining any gain or loss at a realization event. You should discuss with your tax advisor the appropriate way to determine the relevant tax obligation.

 

The subscription agreement that investors must sign to invest in this Offering has a forum selection provision that requires disputes be resolved in state or federal courts in the State of Delaware, regardless of convenience or cost to you, the investor.

 

In order to invest in this Offering, investors agree to resolve disputes arising under the subscription agreement in state or federal courts located in the State of Delaware, for the purpose of any suit, action or other proceeding arising out of or based upon the agreement. Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. We believe that the exclusive forum provision applies to claims arising under the Securities Act, but there is uncertainty as to whether a court would enforce such a provision in this context. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. You will not be deemed to have waived the Company’s compliance with the federal securities laws and the rules and regulations thereunder. This forum selection provision may limit your ability to obtain a favorable judicial forum for disputes with us. Alternatively, if a court were to find the provision inapplicable to, or unenforceable in an action, we may incur additional costs associated with resolving such matters in other jurisdictions, which could adversely affect our business, financial condition or results of operations.

 

Investors in this Offering may not be entitled to a jury trial with respect to claims arising under the subscription agreement, which could result in less favorable outcomes to the plaintiff(s) in any action under the agreement.

 

Investors in this Offering will be bound by the subscription agreement, which includes a provision under which investors waive the right to a jury trial of any claim they may have against the Company arising out of or relating to the agreement, including any claims made under the federal securities laws. By signing the agreement, the investor warrants that the investor has reviewed this waiver with his or her legal counsel, and knowingly and voluntarily waives the investor’s jury trial rights following consultation with the investor’s legal counsel.

 

If we opposed a jury trial demand based on the waiver, a court would determine whether the waiver was enforceable based on the facts and circumstances of that case in accordance with the applicable state and federal law. To our knowledge, the enforceability of a contractual pre-dispute jury trial waiver in connection with claims arising under the federal securities laws has not been finally adjudicated by a federal court. However, we believe that a contractual pre-dispute jury trial waiver provision is generally enforceable, including under the laws of the State of Delaware, which governs the agreement, by a federal or state court in the State of New York. In determining whether to enforce a contractual pre-dispute jury trial waiver provision, courts will generally consider whether the visibility of the jury trial waiver provision within the agreement is sufficiently prominent such that a party knowingly, intelligently and voluntarily waived the right to a jury trial. We believe that this is the case with respect to the subscription agreement. You should consult legal counsel regarding the jury waiver provision before entering into the subscription agreement.

 

If you bring a claim against the Company in connection with matters arising under the agreement, including claims under the federal securities laws, you may not be entitled to a jury trial with respect to those claims, which may have the effect of limiting and discouraging lawsuits against the Company. If a lawsuit is brought against the Company under the agreement, it may be heard only by a judge or justice of the applicable trial court, which would be conducted according to different civil procedures and may result in different outcomes than a trial by jury would have had, including results that could be less favorable to the plaintiff(s) in such an action.

 

Nevertheless, if the jury trial waiver provision is not permitted by applicable law, an action could proceed under the terms the agreement with a jury trial. No condition, stipulation or provision of the subscription agreement serves as a waiver by any holder of the Company’s securities or by the Company of compliance with any substantive provision of the federal securities laws and the rules and regulations promulgated under those laws.

 

In addition, when the shares are transferred, the transferee is required to agree to all the same conditions, obligations and restrictions applicable to the shares or to the transferor with regard to ownership of the shares, that were in effect immediately prior to the transfer of the shares, including but not limited to the subscription agreement.

 

Using a credit card to purchase shares may impact the return on your investment as well as subject you to other risks inherent in this form of payment.

 

Investors in this Offering have the option of paying for their investment with a credit card, which is not usual in the traditional investment markets. Transaction fees charged by your credit card company (which can reach 5% of transaction value if considered a cash advance) and interest charged on unpaid card balances (which can reach almost 25% in some states) add to the effective purchase price of the shares you buy. See “Plan of Distribution and Selling Securityholders.” The cost of using a credit card may also increase if you do not make the minimum monthly card payments and incur late fees. Using a credit card is a relatively new form of payment for securities and will subject you to other risks inherent in this form of payment, including that, if you fail to make credit card payments (e.g. minimum monthly payments), you risk damaging your credit score and payment by credit card may be more susceptible to abuse than other forms of payment. Moreover, where a third-party payment processor is used, as in this Offering, your recovery options in the case of disputes may be limited. The increased costs due to transaction fees and interest may reduce the return on your investment.

 

The SEC’s Office of Investor Education and Advocacy issued an Investor Alert dated February 14, 2018 entitled: Credit Cards and Investments – A Risky Combination, which explains these and other risks you may want to consider before using a credit card to pay for your investment.

 

10

 

 

DILUTION

 

Dilution means a reduction in value, control or earnings of the shares the investor owns.

 

Immediate dilution

 

An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their “sweat equity” into the Company. When the Company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is diluted because each share of the same type is worth the same amount, and you paid more for your shares than earlier investors did for theirs.

 

The following table compares the price that new investors are paying for their shares with the effective cash price paid by existing shareholders, giving effect to full conversion of all outstanding stock options, and assuming that the shares are sold at $0.28 per share. The schedule presents shares and pricing as issued and reflects all transactions since inception, which gives investors a better picture of what they will pay for their investment compared to the Company’s insiders than just including such transactions for the last 12 months, which is what the SEC requires.

 

   Date Issued   Issued Shares   Potential Shares   Total Issued and Potential Shares   Effective Cash Price per Share at Issuance or Potential Conversion   Total Raised 
Class A Voting Common Stock   2026    200,000,000    0    200,000,000   $0.00   $0 
                               
Total Common Share Equivalents        200,000,000    0    200,000,000   $0.00   $0 
                               
Investors in Class B Non-Voting Common Stock, assuming maximum amount raised        85,714,286(1)   0    85,714,286   $0.23   $20,000,000 
                               
Total After Inclusion of this Offering        285,714,286    0    285,714,286   $0.07   $20,000,000 

 

 

(1) Assumes the issuance of 100% of the available bonus shares (14,285,715)

 

The following table demonstrates the dilution that new investors will experience upon investment in the Company. The price per share in this table reflects the price of Class B Common Stock in the Offering of $0.28. This table uses the Company’s audited net tangible book value as of December 31, 2025 of ($333,370.00) which is derived from the net equity/(deficit) of the Company in the December 31, 2025 audited financial statements.

 

11

 

 

The offering costs assumed in the following table includes up to $964,750 in commissions and other fees to Broker and affiliates incurred for this Offering. The table presents four approximate scenarios for the convenience of the reader: a $5 million raise from this Offering, a $12 million raise from this Offering, a $15 million raise from this Offering and a $20 million raise from this Offering, which is not including the investor fees collected, if the offering is fully subscribed.

 

   $5 million   $12 million   $15 million   $20 million 
On Basis of Full Conversion of Issued Instruments  Raise   Raise   Raise   Raise 
Price Per Share  $0.28   $0.28   $0.28   $0.28 
New Shares Issued   21,428,571(1)   51,428,571(1)   64,285,714(1)   85,714,286(1)
Capital Raised  $5,000,000(2)  $12,000,000(2)  $15,000,000(2)  $20,000,000(2)
Less: Offering Costs  $(341,750)(3)  $(663,050)(3)  $(800,750)(3)  $(1,030,250)(3)
Net Offering Proceeds  $4,658,250   $11,336,950   $14,199,250   $18,969,750 
Net Tangible Book Value Pre-Financing  $(333,370)  $(333,370)  $(333,370)  $(333,370)
Net Tangible Book Value Post-Financing  $4,324,880   $11,003,580   $13,865,880   $18,636,380 
                     
Shares Issued and Outstanding Pre-Financing   200,000,000    200,000,000    200,000,000    200,000,000 
                     
Post-Financing Shares Issued and Outstanding   221,428,572    251,428,572    264,285,715    285,714,286 
                     
Net Tangible Book Value Per Share Prior To Offering  $0.00   $0.00   $0.00   $0.00 
Increase/(Decrease) Per Share Attributable to New Investors  $0.02   $0.05   $0.05   $0.07 
Net Tangible Book Value Per Share After Offering  $0.02   $0.04   $0.05   $0.07 
Dilution Per Share To New Investors ($)  $0.26   $0.24   $0.23   $0.21 
Dilution Per Share to New Investors (%)   93.02%   84.37%   81.26%   76.70%

 

 

(1) Assumes the issuance of all the available bonus shares
(2) Assumes the collection of the Investor Fee from investors (2% of the gross proceeds) and use of it for the payment of third-party payment processing fees (approximately 2% of the investor collected cash). These cancel each other and neither are included above.
(3)

Assumes Broker and affiliate costs, which include underwriting compensation as well as $65,500 for legal and accounting fees.

 

Future Dilution

 

Another important way of looking at dilution is the dilution that happens due to future actions by a company. The investor’s stake in a company could be diluted due to the company issuing additional shares, whether as part of a capital-raising event, or issued as compensation to the company’s employees or marketing partners. In other words, when the company issues more shares, the percentage of the company that you own will go down, even though the value of the company may go up. You will own a smaller piece of a larger company. This increase in number of shares outstanding could result from a stock offering (such as an initial public offering, another crowdfunding round, a venture capital round, or an angel investment), employees exercising stock options, or by conversion of certain instruments (e.g. convertible bonds, preferred shares or warrants) into stock.

 

If the company decides to issue more shares, an investor could experience value dilution, with each share being worth less than before, and control dilution, with the total percentage an investor owns being less than before. There may also be earnings dilution, with a reduction in the amount earned per share (though this typically occurs only if the company offers dividends, and most development stage companies do not pay dividends for some time).

 

The type of dilution that hurts early-stage investors most occurs when the company sells more shares in a “down round,” meaning at a lower valuation than in earlier offerings. An example of how this might occur is as follows (numbers are for illustrative purposes only):

 

  ● In June 2014, Jane invests $20,000 for shares that represent 2% of a company valued at $1 million.
     
  ● In December, the company is doing very well and sells $5 million in shares to venture capitalists on a valuation (before the new investment) of $10 million. Jane now owns only 1.3% of the company, but her stake is worth $200,000.
     
  ● In June 2015, the company has run into serious problems, and in order to stay afloat, it raises $1 million at a valuation of only $2 million (the “down round”). Jane now owns only 0.89% of the company, and her stake is worth only $26,660.

 

If you are making an investment expecting to own a certain percentage of the company or expecting each share to hold a certain amount of value, it’s important to realize how the value of those shares can decrease by actions taken by the company. Dilution can make drastic changes to the value of each share, ownership percentage, voting control, and earnings per share. In some cases, dilution can also completely wipe out the value of investments made by early investors, without any person being at fault.

 

As of September 30, 2026 (the most recent practicable date for providing such information), prior to the commencement of this offering, we had outstanding approximately 200,000,000 of our shares of Class A Voting Common Stock issued and outstanding. Based on this number of outstanding shares and the price at which we are offering new shares of Class B Non-Voting Common Stock (the “Shares”) in this offering, the pre-offering value of our Company, prior to the issue and sale of any Shares in this offering, could be calculated to be $56,000,000 on a fully diluted basis including options. This calculation is provided for informational purposes only. It is based on assumptions and expectations made as of the date of this offering circular and is subject to significant economic, market and operational uncertainties and to changes and developments subsequent to the date of this Offering Circular. Important factors that could cause our results of operations, financial condition and value to differ materially from expectations include, among other things, the risk factors discussed in this Offering Circular. This calculation is not a guarantee of actual future market value. It does not represent a verified market transaction or a formal finding or opinion. It should not be relied upon as investment, tax, or legal advice. Investors should conduct their own due diligence and analysis, and consult with professional advisors, before making any financial decisions.

 

Investors should understand how dilution works and the availability of anti-dilution protection.

 

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USE OF PROCEEDS TO THE ISSUER

 

Please see the table below for a summary our intended use of proceeds from this Offering under various raise scenarios:

 

Use of Proceeds(1) 

$5,100,000

Raise

Amount

   %  

$12,240,000

Raise

Amount

   %  

$15,300,000

Raise

Amount

   %  

$20,400,000

Raise

Amount

   % 
Underwriting Compensation and Commissions (2)  $276,250        $597,550        $735,250        $964,750      
Payment Processing (2)  $102,000        $244,800        $306,000        $408,000      
Other Expenses(2)  $65,500        $65,500        $65,500        $65,500      
Net Proceeds  $4,656,250        $11,332,150        $14,193,250        $18,961,750      
                                         
Offering Marketing Expenses  $1,396,875    30%  $3,399,645    30%  $4,257,975    30%  $5,688,525    30%
Internal Marketing and Tech Development  $465,625    10%  $1,133,215    10%  $1,419,325    10%  $1,896,175    10%
Investments  $1,955,625    42%  $4,759,503    42%  $5,961,165    42%  $7,963,935    42%
Operations Working Capital  $651,875    14%  $1,586,501    14%  $1,987,055    14%  $2,654,645    14%
Repayment of amounts borrowed under the Delayed Draw Term Loan(3)  $186,250    4%  $453,286    4%  $567,730    4%  $758,470    4%
Total Use of Proceeds  $4,656,250        $11,332,150        $14,193,250        $18,961,750      

 

(1)The Proceeds reflected as the Raised Amounts, represent the cash collected from Share Sales and the Investor Fee associated with the Shares sold.
(2)The above table assumes commissions and expenses payable to Broker and affiliates, which include commissions of 4.5% and $46,750 for other services. Other included Selling expenses are those for payment processing (2% of total raised), plus legal and accounting expenses totaling $65,500.
(3)The Company intends to use some of the proceeds from this Offering to repay certain amounts borrowed under the Delayed Draw Term Loan described in the “Our Business” section below under “Delayed-Term Loan and Security Agreement between the MSO and RAD Intel”. As of September 16, 2026 the Company has drawn a total of $1,396,370, which has been used towards expenses associated with formation of the Company, initial operations, and expenses associated with this Offering.

 

Because the Offering is a “best efforts,” we may close the Offering without sufficient funds for all the intended purposes set out above, or even to cover the costs of this Offering.

 

The Company reserves the right to change the above use of proceeds if management believes it is in the best interests of the Company.

 

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OUR BUSINESS

 

This Offering Circular contains statistics, data, and other information relating to markets, market sizes, industries, and other topics obtained from independent industry publications, third-party research, government and industry sources, and other publicly available information. Some data is also based on our good faith estimates, which are derived from our review of internal sources as well as the independent sources described herein. Although we believe these third-party sources to be reliable as of their respective dates, we have not independently verified the accuracy or completeness of any such information, and we make no representation or warranty as to its accuracy. Similarly, internal estimates, while believed to be reliable, have not been independently verified.

 

Any websites, reports, articles, or other sources referenced or cited in this Offering Circular are provided for informational purposes only and are not incorporated by reference into, and do not form a part of, this Offering Circular. No information contained on, or accessible through, any such website or source shall be deemed to be part of, or incorporated into, this Offering Circular unless expressly and specifically stated otherwise herein.

 

Company Overview

 

Altivera Vision Inc. was formed on July 7, 2025 and its indirectly wholly owned subsidiary, Altivera Vision was formed on March 20, 2026 to scale ophthalmic vision-care practices across the United States.

 

Altivera intends to combine proprietary technology with custom-built workflows and AI-driven marketing playbooks to elevate patient conversion, drive premium procedure volume, and scale practice revenues. Under a Corporate Practice of Medicine (“CPOM”)-compliant approach Altivera intends to execute this model through the Company’s indirectly wholly owned management services organization subsidiary, Altivera Vision Management LLC (the “MSO”) which will acquire all the non-clinical assets of, and establish long-term Management Services Agreements (“MSAs”) with, each practice (the “Practice or Practices”) joining its AI-enabled marketing and management platform designed to support ophthalmology practices, increase elective and premium surgical volume, improve practice-level and platform margins, and build long-term enterprise value (the “Platform”). This allows the MSO to secure control over non-clinical operations and capture a majority of the practice’s economics while physician partners retain clinical autonomy and aligned equity.

 

Incorporated in Delaware as a majority-owned affiliate of RAD Technologies Inc. (“RAD Intel”), the Company secured exclusive licenses to RAD Intel’s audience intelligence platform under a Software License Agreement, effective September 1, 2026. The Company has also entered into a Managed Services Agreement with RAD Intel, effective September 1, 2026, whereby RAD Intel provides accounting, human resources, information technology, and strategic and executive management support services to the Company, in exchange for cost-plus and revenue-based fees described below. See “Interest of Management and Others in Certain Transactions” for a complete description of the terms of these agreements.

 

Organizational Structure

 

 

Entity   Business Description
Altivera Vision Inc.   Parent company and primary manager of the operations of the group of Altivera companies. Majority owned by RAD Intel.
Altivera Vision Holdings, LLC   Intermediate holding company between the Company and Altivera Vision Management, LLC. Wholly owned by Altivera Vision Inc.
Altivera Vision Management, LLC   Formed to act as the Altivera group’s management services organization (MSO), contracting with clinical practices to provide management services, staffing, non-clinical assets and software and IP licensing. Wholly owned by Altivera Vision Holdings, LLC.
Altivera Vision ASC Holdings, LLC   Formed to hold equity interests in ambulatory surgery centers acquired by the group. Wholly owned by Altivera Vision Management, LLC.

 

Business Model

 

Altivera, through its subsidiaries, intends to operate the Platform — an AI-enabled marketing and management platform designed to support ophthalmology practices, increase elective and premium surgical volume, improve practice-level and platform margins, and build long-term enterprise value.

 

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Altivera intends to execute this model through a disciplined partnership strategy in which the Company’s MSO, will acquire all the non-clinical assets of, and establish long-term MSAs with, each Practice joining its Platform. Where regulations permit, the MSO or its wholly owned subsidiaries will also acquire direct majority ownership positions in any Ambulatory Surgery Centers (“ASCs”) affiliated with the Practices. Under the MSAs, the acquired non-medical assets and ASCs are then made available for the operations of the Practice, together with other administrative, technology, financial and marketing services provided by the MSO, and compensated through fair market value management fees pursuant to the MSAs. Through this combination of acquiring all Practice non-clinical assets and affiliated ASCs, and the MSAs under which management fees are levied, the MSO maintains control of all non-clinical operations and decision making and captures a contractually durable cash flow stream flowing from the Practices and ASCs, representing a fair market value management fee for its management services and, typically a significant or majority portion of their combined cashflow. Consistent with state corporate practice of medicine and/or optometry requirements, the physician partners retain ownership and full clinical control of the Practices and where required by regulation the ASCs. In jurisdictions lacking CPOM restrictions, the MSO may own the Practices and the clinical assets, provided the physicians maintain independent clinical judgment in all patient care decision-making. Under either Practice ownership model the physician partners also retain a meaningful stake in the economics of the Practices and ASC’s, which is intentionally designed to keep them clinically engaged and financially aligned with earnings, future growth and enterprise value. 

 

Once a practice joins the Platform and a MSA is executed, the MSO will deploy its services, including exclusively licensed AI marketing and AI lead-generation platforms and proven best-practice patient consultation and conversion processes all designed to elevate the patient experience, accelerate scheduled surgical bookings (with particular emphasis on premium procedures) and expand Practice Margins.

 

As practices are added to its Platform, Altivera intends to refine its marketing (patient acquisition, education, scheduling, consultation, conversion and retention) and practice management capabilities using operational insights generated across its network. Over time, the Company expects these continuously improving workflows and operating processes to become a differentiated source of operational and marketing intelligence designed specifically for ophthalmology practices.

 

The Company believes this focus on clinical, marketing and operational excellence through a combination of disciplined MSO management, financially aligned physicians, exclusive marketing and patient lead generation AI technology platforms, and proven best-practice patient consultation and conversion processes will provide a distinct competitive advantage capable of driving meaningful enterprise value creation at both the practice level and across the consolidated Altivera Platform.

 

The Company’s business model is built on four complementary layers, all delivered within this physician-aligned partnership framework.

 

1.MSO Services Offering

 

Through the MSO, Altivera intends to provide Practices with a comprehensive suite of management and marketing services that allow surgeons to focus on patient care while the MSO delivers institutional-grade business infrastructure. The MSO services are anticipated to include:

 

1.marketing and lead-generation;
2.accounting, financial reporting, and budgeting;
3.revenue cycle management, payor contracting, and billing;
4.human resources, recruiting, and staff training;
5.legal, compliance, and risk management support;
6.procurement and vendor management; and
7.day-to-day operational support including Company marketing, KPI reporting, and centralized administrative infrastructure.

 

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2.Exclusively Licensed AI-Driven Marketing Engine

 

Altivera’s marketing capability will be based on a combination of an AI driven marketing and lead-generation engine for the Ophthalmology market, that we expect to be powered by exclusive licenses for RAD Intel’s AI audience intelligence and lead generation platforms, and existing and proven best-in-class marketing practices and technologies. The Company believes this technology centered marketing strategy represents an innovative and differentiated approach to patient acquisition in ophthalmology, bringing a level of sophistication, expertise and discipline not traditionally applied in this sector.

 

A core pillar of this engine is Lickly, RAD Intel’s proprietary marketing platform. Lickly uses an audience-first methodology to map real-time digital behaviors and micro-communities, identifying the precise channels and content that resonate with prospective patients. By configuring Lickly specifically for ophthalmic care, Altivera expects to be able to target high-intent candidates for premium procedures with a high degree of precision.

 

Together, these tools are intended to analyze digital engagement behavior, demographic data, consumer health indicators, and marketing conversion metrics to:

 

a.improve marketing efficiency and lower patient acquisition cost;
b.enhance the consultation conversion rate, increasing the number of scheduled procedures;
c.increase the percentage of patients pursuing premium and cash-pay procedures; and
d.fill underutilized surgical capacity at our Practices.

 

Independent case-study data from a U.S. ophthalmology practice illustrates the magnitude of return that integrated, AI-optimized digital marketing can deliver, including paid search returns on ad spend exceeding 30 times, organic traffic gains in excess of 90%, and material lifts in consultation conversion and patient engagement metrics.1 Altivera believes that its technology centered marketing approach, deployed across multiple partner practices through a centralized MSO, can capture similar economics at scale.

 

3.Best-Practice Clinical, Consultation, and Conversion Workflows

 

Under the leadership of its Chief Medical Officer, the MSO will seek to implement established, proven best practices across clinical, consultation, conversion, and surgical workflows to improve efficiency across the clinic and surgical center while elevating the patient experience. These practices are designed to:

 

a.optimize clinic scheduling, utilization, and staff workflow;
b.automate routine administrative tasks and reduce manual data entry;
c.develop and apply AI-supported consultation tools that present treatment options, expected outcomes, and financing in a clear, personalized way;
d.proactively address patient concerns, fears, and financial questions during the consultation – the stage at which most patients decide whether to schedule;
e.leverage AI intelligence to personalize each consultation based on the data collected throughout the patient journey;
f.apply predictive lead scoring to prioritize the highest-intent prospects for rapid outreach, improving lead-to-book conversion rates;
g.offer virtual consultations with AI assistance, expanding geographic reach and convenience for prospective patients while preserving consultation quality;
h.analyze patient feedback and sentiment across reviews, surveys, and direct communications to surface service-quality issues and refine the consultation experience;
i.deliver interactive, AI-driven staff training modules covering consultation flow, financial counseling, and patient communication best practices, standardizing performance across partner practices; and
j.increase scheduled booking rates and elective conversion through a more sophisticated, elevated consultation experience.

 

 

1 Patterson, C. (2025). U.S. Refractive Surgery Market Report (2018–2025): Search Demand, Procedure Trends, and Economic Drivers. Digital Space Marketing.

 

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4.Integrated CRM and Patient-Journey Management

 

Rather than building proprietary CRM tools, the MSO intends to configure established, readily available and cost-effective CRM tooling and integrate it with its marketing and lead-generation environment to support Practices on our Platform across the entire patient journey — from initial lead generation through consultation, scheduling, treatment, post-operative follow-up, reviews, and referrals. The Company believes its differentiation will lie in this combination of marketing, lead-generation practices and technology, and best-practice consultation and conversion capabilities that drive revenues and margins, not in the underlying CRM software itself. The integrated CRM will be configured to:

 

a.ingest leads generated through the exclusively licensed AI marketing and Lickly lead-generation platforms;
b.nurture prospective patients with AI-personalized communications from first touch through scheduled consultation;
c.automate appointment scheduling and deliver multi-channel confirmation and reminder sequences designed to reduce no-show rates;
d.orchestrate consultation, scheduling, and pre-operative communications;
e.deliver structured, AI-personalized post-operative communications and care management;
f.systematically request and capture online reviews on relevant platforms;
g.identify and activate patient referral opportunities;
h.measure patient-reported satisfaction and outcomes across the lifecycle; and
i.close the loop with marketing and consultation data so that downstream learnings improve upstream patient acquisition.

 

Together, these four layers — MSO services, AI marketing and lead generation, best-practice clinical and consultation workflows, and integrated CRM and patient-journey management — are designed to create a flywheel in which each partner practice benefits from coordinated patient acquisition, conversion, delivery, and retention. The economic uplift generated by this flywheel — increased surgical volumes, increased premium-procedure mix and improved operating margins are expected to translate into enterprise value accretion at both the practice level and across the consolidated Altivera Platform.

 

The Revenue and Enterprise Value Model

 

Altivera intends to earn revenue through two primary avenues: (i) revenues from the MSO generated by service fees paid by the Practices onboarded onto the Platform; and (ii) revenues generated by the ASCs affiliated with Practices that the Company will capture through its direct ownership of interests in these entities.

 

For the MSO revenue stream, revenues will be comprised of fair market value fees for services rendered, and for non-clinical assets leased or made available to the Practices by the MSO for their operation. Fees will typically comprise a combination of some of the following, subject to the laws and regulations of the applicable jurisdiction:

 

  a. Percentage-of-collections fee: MSO takes a set % of the Practice’s net patient revenue or collections in exchange for providing everything non-clinical.
  b. EBITDA-based fee: MSO takes a share of the Practice’s operating profit after physician compensation.
  c. Cost-plus / management fee: MSO charges its actual costs for services (staffing, rent, supplies, technology, marketing etc.) plus a markup.
  d. Fixed or tiered fee: a flat monthly or annual fee, sometimes scaling with Practice size or volume.

 

Enterprise value will accrue to the MSO and therefore to the Company through:

 

  a. Long-duration Management Services Agreements with restrictive termination and non-compete/non-solicit provisions (subject to applicable laws and regulations), combined with ownership interests in affiliated ASCs which represent a contractually durable and growing cash flow stream. The durability and growth of this cash flow stream creates and increases MSO enterprise value which can be monetized through the sale of the MSO to acquirors or later-stage investors.
  b. Management Aggregation: The MSO rolls up many individual practices under one management umbrella - the Platform - consolidating back-office costs and creating scale economics that justify a materially higher valuation multiple on an exit than any single practice could command alone.
  c. Physician equity rollover: Physicians entering into MSAs with the MSO retain equity and a material economic interest in the Practices and any affiliated ASCs. This aligns physicians with the Practice and Platform growth and gives them aligned incentives for the next liquidity event (by selling a portion of this retained equity and economics), while also giving the Platform a cheaper source of capital and retention.

 

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As of the date of this Offering Circular, the Company has not identified any target practices for the MSO to acquire non-clinical assets from or enter into MSAs with, nor has it identified any affiliated ASCs for acquisition or made any related offers.

 

Growth Strategy

 

Altivera intends to build the MSO as a scalable, multi-state ophthalmology MSO, and where regulations allow, an ASC acquisition platform.

 

The Company’s objective is to achieve sustainable growth in earnings and practice value through the development and implementation of best-in-class operating practices and AI driven brand building, demand generation, lead generation and patient acquisition systems and technologies.

 

In so doing it intends to become a highly attractive MSO and partnership destination for physician practice and ASC owners who are attracted by its capacity to drive growth in practice revenues, margins and value and who match its operating and investment strategy and criteria and commitment to high-quality patient care.

 

The MSO targets established practices with successful regional franchises, high-quality physicians, and meaningful surgical capacity. Each opportunity is evaluated on its potential to materially benefit from the Platform’s infrastructure, roll meaningful equity, and adopt MSO operating strategies.

 

To scale efficiently, the MSO will prioritize building regional density of partner practices. We believe that density will allow the Company to maximize the impact of centralized MSO services, shared surgical infrastructure, and localized AI marketing campaigns. Rather than pursuing expensive new clinic construction, the Company focuses on capacity optimization — maximizing the utilization of existing physical infrastructure. By driving higher volumes of premium and elective procedures through our AI-powered patient acquisition and CRM, we intend to drive margin growth and a corresponding step-up in practice-level enterprise value, the economic benefit of which is shared between Altivera and the aligned physician partner.

 

Once the MSO model is established and optimized in an initial region, Altivera intends to replicate the Platform in additional geographic markets. This multi-state expansion will leverage our existing centralized infrastructure, playbooks, and cloud-based technology rather than rebuilding overhead in each new geography, allowing the company to scale efficiently.

 

Software License Agreement with RAD Intel 

 

Altivera has entered into a Software License Agreement, effective September 1, 2026, with RAD Intel, governing Altivera’s use of RAD Intel’s proprietary, AI-powered software platform (the “RAD AI Platform”) for market intelligence, customer acquisition, lead generation, and demand generation.

 

The license grants Altivera an exclusive, worldwide, sublicensable right to use the RAD AI Platform and all improvements to provide marketing and related services to ophthalmology, optometry, and other vision-care practices (the “Field”). The exclusivity prohibits RAD Intel and its other customers from exploiting the RAD AI Platform within the Field during the term. Altivera may sublicense to affiliates, participating practices, and its service providers.

 

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In consideration for the license, Altivera pays RAD Intel a royalty equal to 12.5% of net marketing fee revenues generated by Altivera (comprised of service fees Altivera and its affiliates collect for providing marketing services to practices, net of pass-through media spend, third-party costs, refunds, and taxes reported) which shall be paid quarterly. The parties may revise the fee structure in good faith if Altivera adopts a subscription or other pricing model.

 

Altivera funds customization of the RAD AI Platform for the Field, including efforts to achieve HIPAA compliance, managed by RAD Intel. Such improvements are jointly owned, with and the parties will negotiate in good faith regarding compensation for Altivera for improvements RAD Intel deploys to clients outside the Field; RAD Intel may not deploy them to any competitor within the Field. Altivera owns all client, patient, and practice data it inputs or derives; RAD Intel retains ownership of the underlying RAD AI Platform.

 

The agreement has a 20-year initial term, automatically renewing for successive two-year periods, and is terminable principally for uncured material breach or insolvency. If it terminates for any reason other than Altivera’s uncured breach, Altivera receives an exclusive, perpetual license to continue using the Platform and improvements in the Field, with access to source code held in escrow if needed.

 

A copy of this agreement is filed as exhibit 6.1 to the Offering Statement of which this Offering Circular forms a part.

 

Managed Services Agreement with RAD Intel

 

Altivera has entered into a Managed Services Agreement, effective September 1, 2026, with RAD Intel. Under the agreement, RAD Intel provides management, operational, and administrative support services to Altivera and its designated subsidiaries. These services include accounting and bookkeeping, human resources support, information technology support, and strategic and executive management support, as detailed in service schedules that the parties may update by mutual written agreement. The agreement expressly excludes the license of RAD Intel’s software platform, which is governed separately by the Software License Agreement between the parties.

 

For accounting, human resources, and IT services, Altivera pays a monthly direct service fee equal to RAD Intel’s cost plus 5% (estimated, for planning purposes only, at $10,000 to $25,000 per month), plus reimbursement of third-party platform and subscription costs at cost without markup. For strategic and executive management support, Altivera pays a management fee equal to 0.75% of the consolidated gross revenues of Altivera and its subsidiaries, payable quarterly in arrears. However, no fees accrue or become payable until the consolidated trailing twelve-month gross revenues of Altivera and its subsidiaries first reach $3,000,000 – after which, payment of fees under this agreement will commence on the first day of the calendar month following the month in which this revenue threshold is first met.

 

The agreement has an initial term of three years, automatically renewing for successive one-year terms unless either party gives 30 days’ notice of non-renewal. Either party may terminate for convenience on 30 days’ notice, for uncured material breach, or upon the other party’s insolvency. The parties act as independent contractors, and the agreement recites that the services and fees are intended to reflect arm’s-length terms notwithstanding the affiliate relationship. Other provisions address confidentiality, intellectual property ownership (each party retains its pre-existing IP; RAD Intel retains ownership of work product and the RAD AI Platform), a limitation of liability, mutual indemnification, and dispute resolution.

 

A copy of this agreement is filed as exhibit 6.2 to the Offering Statement of which this Offering Circular forms a part.

 

Delayed-Term Loan and Security Agreement between the MSO and RAD Intel

 

Altivera has entered into a Delayed Draw Term Loan and Security Agreement, effective September 1, 2026, with RAD Intel. The agreement establishes a delayed draw term loan facility of up to $2,500,000, which the Company may draw in tranches (minimum $25,000 per advance) subject to RAD Intel’s approval and satisfaction of customary funding conditions. RAD Intel has no obligation to increase the commitment. Amounts RAD Intel advanced to or for the benefit of the Company or the Guarantors (defined below) before the effective date (which amounted to $1,046,370 as of September 1, 2026) are deemed to constitute the initial advance under the facility and are subject to its terms. As of September 16, 2026, the Company has drawn a total of $1,396,370.00.

 

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Advances bear interest at 9.0% per annum. During the first 24 months (the “PIK Period”), interest is paid in kind by capitalizing and compounding it quarterly into the outstanding principal balance rather than being paid in cash. After the PIK Period, RAD Intel may elect, in its discretion, to require cash interest payments. A default rate of an additional 5.0% applies during an event of default, and the Company pays a 1.0% annual unused line fee on the undrawn commitment.

 

The facility matures three years after the effective date of September 1, 2026, with all outstanding obligations due in full at maturity and no scheduled amortization beforehand. Voluntary prepayment is permitted, but the agreement provides that the aggregate amount received by Rad Intel in connection with an early prepayment of the facility shall equal to the greater of the outstanding obligations or 105% of the aggregate principal advanced.

 

The facility is guaranteed jointly and severally by Altivera Vision Holdings LLC, Altivera Vision Management LLC and Altivera Vision ASC Holdings LLC (the “Guarantors”) and is secured by a first-priority security interest in substantially all personal property of the Company and the Guarantors (including intellectual property). Use of proceeds of the facility is limited solely for working capital and other general corporate purposes of the Company and the Guarantors and allows for distributions, dividends, capital contributions or other such transfers by the Company to the Guarantors for their working capital and general corporate purposes. The agreement contains customary affirmative and negative covenants (limiting additional indebtedness, liens, asset dispositions, distributions, and affiliate transactions), representations, events of default, and remedies.

 

A copy of this loan facility is filed as exhibit 6.3 to the Offering Statement of which this Offering Circular forms a part. 

 

Industry Overview

 

The U.S. ophthalmology market represents a large and growing healthcare segment driven by demographic trends, increasing prevalence of vision disorders, and advances in surgical technology.

 

Market Size

 

The U.S. ophthalmology services market is estimated to exceed $50 billion annually, and the ophthalmic surgical market is estimated to exceed $30 billion annually. The market is expected to grow at approximately 6-8% per year, supported by population aging and increasing demand for surgical and elective vision correction procedures2 3.

 

Cataract Surgery

 

Cataract surgery is the most commonly performed surgical procedure in the United States. Approximately 4 million cataract procedures are performed annually in the U.S.4 Demand is expected to increase significantly as the population ages. Approximately 25% of individuals over age 65 are affected by cataracts, with approximately 70% affected by age 805. The U.S. Census Bureau projects the population aged 65 and older will reach approximately 73 million by 2030, increasing the prevalence of age-related eye disease6.

 

 

2 Grand View Research (2024). U.S. Ophthalmology Market Size, Share & Trends Analysis Report. Grand View Research, Inc.

 

3 Mordor Intelligence (2024). United States Ophthalmology Devices and Services Market – Growth, Trends, and Forecasts. Mordor Intelligence Industry Reports.

 

4 American Academy of Ophthalmology. EyeWiki and Industry Statistics on Cataract and Ophthalmic Surgical Procedure Volumes in the United States. American Academy of Ophthalmology, San Francisco, CA.

 

5 National Eye Institute (2024). Cataracts: Prevalence and Age-Related Statistics; Age-Related Eye Disease Prevalence Data. National Eye Institute, National Institutes of Health.

 

6 U.S. Census Bureau (2023). 2023 National Population Projections: Projected Population by Age and Sex, 2022–2100. U.S. Census Bureau, Washington, D.C.

 

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Other Age-Related Ocular Disease

 

In addition to cataracts, the prevalence of other age-related ocular conditions – including macular degeneration, glaucoma, and diabetic retinopathy – is also increasing at approximately 2–3% annually, expanding the addressable patient population for diagnostic, medical, and surgical ophthalmic services7 8.

 

Ophthalmologist Workforce Shortage

 

Compounding demographic-driven demand, the supply of ophthalmologists in the United States is projected to decline meaningfully over the coming decade. A workforce study published in the American Academy of Ophthalmology’s peer-reviewed journal Ophthalmology anticipates an approximately 12% decline in full-time equivalent (FTE) ophthalmologists by 2035, driven primarily by retirements outpacing new entrants and constrained by a limited number of ophthalmology residency positions. Over the same period, demand for ophthalmic services is projected to increase by approximately 24%, resulting in an estimated 30% shortfall in ophthalmologist supply relative to demand for comprehensive vision care and surgical services9.

 

This structural workforce shift over the next decade has two important implications for ophthalmology practices. First, practices must become significantly more efficient in caring for patients – leveraging technology, optimized workflows, and structured patient-journey management – in order to deliver high-quality care with fewer surgeons per patient. Second, the supply-demand imbalance is expected to materially expand the economic opportunity for ophthalmic practices that are positioned to capture incremental demand. Practices able to combine surgical capacity with modernized patient acquisition, conversion, and lifecycle management infrastructure are expected to disproportionately benefit from this multi-year trend. Altivera believes that its AI-enabled MSO platform can be specifically designed to help partner practices address both of these dynamics.

 

Myopia Growth

 

The prevalence of myopia (nearsightedness) has increased dramatically over the past 50 years. Research indicates that myopia prevalence in the United States increased from approximately 25% of the population in the 1970s to roughly 40% today, creating a large and growing population of potential candidates for refractive vision correction procedures10.

 

LASIK and Refractive Surgery

 

Laser vision correction procedures such as LASIK remain one of the most widely performed elective surgeries in ophthalmology. Approximately 700,000 to 800,000 LASIK procedures are performed annually in the United States11. Industry modeling estimates the total U.S. refractive procedure market at approximately $1.44 billion to $2.3 billion in 2025, with the broader retail refractive surgery market projected to grow to roughly $12 billion globally by 203012 13 14. In addition, advances in refractive lens exchange (RLE), phakic IOLs, and premium cataract procedures are expanding the elective vision correction market. Lens-based and implantable procedures are growing faster than traditional LASIK: RLE has shown moderate, steady growth among presbyopic patients aged 40 and above, and the EVO Implantable Collamer Lens (ICL) has experienced rapid adoption since its FDA approval in March 2022, with ICL share at select U.S. refractive practices roughly doubling from 6.5% in 2022 to 12.8% in 202315 16 17. EVO ICL also commands meaningfully higher average pricing (approximately $4,000 to $6,000 per eye) than LASIK (approximately $1,900 to $2,400 per eye), providing partner practices with a path to higher revenue per case as the procedure mix continues to shift18. Together, these demographic and technological trends support continued long-term growth in the ophthalmology sector.

 

 

7 American Academy of Ophthalmology. EyeWiki and Industry Statistics on Cataract and Ophthalmic Surgical Procedure Volumes in the United States. American Academy of Ophthalmology, San Francisco, CA.

 

8 National Eye Institute (2024). Cataracts: Prevalence and Age-Related Statistics; Age-Related Eye Disease Prevalence Data. National Eye Institute, National Institutes of Health.

 

9 Berkowitz, S. T., Finn, A. P., Parikh, R., Kuriyan, A. E., & Patel, S. (2024). Ophthalmology Workforce Projections in the United States, 2020 to 2035. Ophthalmology, Journal of the American Academy of Ophthalmology, 131(2), 133–139.

 

10 Vitale, S., Sperduto, R. D., & Ferris, F. L. (2009). Increased Prevalence of Myopia in the United States Between 1971–1972 and 1999–2004. Archives of Ophthalmology, 127(12), 1632–1639.

 

11 Refractive Surgery Council (2024). LVC (Laser Vision Correction) Procedure Volume Reports. Refractive Surgery Council.

 

12 Market Scope (2024). U.S. Refractive Surgery Market Report. Market Scope, LLC.

 

13 Eyewire+ (2023). Refractive Surgery Market Outlook. Eyewire+ Industry Reports.

 

14 Patterson, C. (2025). U.S. Refractive Surgery Market Report (2018–2025): Search Demand, Procedure Trends, and Economic Drivers. Digital Space Marketing.

 

15 Ophthalmology Management (2024). Annual Refractive and Cataract Procedure Trends. Ophthalmology Management Industry Reports.

 

16 U.S. Food and Drug Administration (2022). Premarket Approval (PMA): EVO Implantable Collamer Lens (ICL). FDA PMA Database.

 

17 Patterson, C. (2025). U.S. Refractive Surgery Market Report (2018–2025): Search Demand, Procedure Trends, and Economic Drivers. Digital Space Marketing.

 

18 Patterson, C. (2025). U.S. Refractive Surgery Market Report (2018–2025): Search Demand, Procedure Trends, and Economic Drivers. Digital Space Marketing; Market Scope (2024). U.S. Refractive Surgery Market Report. Market Scope, LLC.

 

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Structural Inefficiencies in Ophthalmology

 

Despite favorable market dynamics, many ophthalmology practices remain operationally under-optimized. Traditional ophthalmology practices commonly experience:

 

2.underutilized surgical and clinical capacity;
3.limited digital marketing sophistication and an absence of modern social and digital media marketing;
4.inefficient patient conversion processes and weak consultation workflows;
5.under-developed financial counseling that fails to address patient affordability concerns for premium procedures;
6.limited adoption of data analytics and artificial intelligence across the patient journey; and
7.minimal structured patient engagement throughout the lifecycle, leading to lost referrals and a lower volume of online reviews.

 

Because surgical infrastructure carries significant fixed costs, incremental procedures performed within existing facilities can generate high-margin revenue growth. Altivera believes that applying advanced AI-driven patient acquisition, best-practice consultation and conversion workflows, and integrated patient-journey management can significantly improve utilization rates and profitability without requiring major capital investment.

 

Independent industry analysis underscores the size of this opportunity. Despite a U.S. candidate pool estimated at more than 50 million people, annual penetration of laser vision correction has historically remained at approximately 0.2% of eligible patients per year, well below the early-2000s peak of approximately 1.4 million procedures19 20. Prospective refractive patients now spend an average of nearly 49 days researching providers before scheduling a consultation, and roughly 60% of Google searches end without a click as AI overviews increasingly satisfy user intent directly, meaning practices without authoritative digital content and strong reputational signals are systematically overlooked21 22 23. Surveys further indicate that 60% to 75% of U.S. adults have used AI tools for health information, and AI search platforms disproportionately cite sources with strong expertise, authority, and trust signals24 25 26. These dynamics reward platforms able to deploy authority-optimized content, structured patient journeys, and integrated CRM at scale, the precise capabilities Altivera is positioned intends to deliver to partner practices.

 

The economic impact of these inefficiencies can be quantified across a four-part patient acquisition framework that practices use to evaluate marketing return on investment: (i) cost per lead (CPL), determined by creative quality, targeting, and platform mix; (ii) lead-to-book rate (scheduled consultations ÷ total leads), determined by speed to contact, caller skill, and follow-up process; (iii) no-show rate (no-shows ÷ total scheduled), determined by confirmation sequences, reminders, and patient experience; and (iv) consult-to-surgery conversion (scheduled surgeries ÷ total patients showing up), determined by consultation flow, surgeon trust, and pricing presentation. Industry benchmarks for social media lead-form campaigns indicate an average lead-to-book rate of approximately 15% (rising to 20% or higher with strong follow-up), an average no-show rate of approximately 35%, and consult-to-surgery conversion that varies meaningfully by procedure and practice, with higher-cost premium procedures typically converting at lower rates27. Because each stage compounds multiplicatively, incremental improvements at any single stage produce disproportionate gains in surgeries scheduled and revenue per marketing dollar deployed. The Company expects that its Platform, with its marketing and lead-generation abilities combined with its best-practice consultation and conversion processes, will deliver measurable improvement at every stage of this funnel.

 

Regulatory Environment

 

The Practices and ASCs with which Altivera intends to enter into MSAs operate in a highly regulated industry and are subject to extensive federal, state, and local laws and regulations. These laws govern the ownership, management, and operation of medical practices and ASCs, patient privacy, healthcare marketing, professional licensure, third-party reimbursement, referral source relationships, and the delivery of healthcare services generally.

 

Altivera’s business model depends upon its ability to establish and maintain MSAs with the Practices and ASCs in compliance with applicable federal and state law. Changes in laws, regulations, regulatory interpretations, or enforcement priorities may require modifications to or restructuring of the business model, increase compliance costs, limit expansion opportunities, or otherwise adversely affect our business, financial condition, or results of operations.

 

 

19 Joffe, S. N. (2021). The 25th Anniversary of Laser Vision Correction in the United States. Clinical Ophthalmology, 15, 1401–1426.

 

20 Patterson, C. (2025). U.S. Refractive Surgery Market Report (2018–2025): Search Demand, Procedure Trends, and Economic Drivers. Digital Space Marketing.

 

21 Pierce, D. (2023). Consumer Research Behavior in Elective Healthcare: Path-to-Consultation Analysis. Industry research report.

 

22 Search Engine Land (2024). Zero-Click Search and the Rise of AI Overviews. Search Engine Land Research.

 

23 SparkToro (2024). 2024 Zero-Click Search Study. SparkToro, Inc.

 

24 Annenberg Public Policy Center (2025). Consumer Use of AI Tools for Health Information. University of Pennsylvania.

 

25 eMarketer (2025). U.S. Consumer AI Usage Survey. eMarketer / Insider Intelligence.

 

26 Ranktracker (2025). AI Search Citation Patterns: Expertise, Authority, and Trust Signals. Ranktracker Research.

 

27]Industry benchmark data for U.S. elective-ophthalmology patient acquisition funnels, including cost-per-lead, lead-to-book conversion, no-show, and consult-to-surgery conversion metrics for social media lead-form campaigns, drawn from refractive- and cataract-focused practice marketing presentations and operator surveys (2024–2025).

 

22

 

 

Corporate Practice of Medicine and Healthcare Entity Ownership Restrictions

 

Many states maintain CPOM doctrines and related laws that generally prohibit non-physicians or non-professional entities from owning, controlling, or exercising undue influence over the practice of medicine and/or optometry. These laws are intended to ensure that medical decisions remain under the purview of licensed physicians rather than business organizations. Altivera’s MSO intends to enter into MSAs with ophthalmology practices and ASCs in a manner designed to comply with applicable CPOM requirements in those states where it operates. Under this model, existing physician owners will retain ownership of and clinical control over the medical practice and where required by regulation any affiliated ASCs, while Altivera’s MSO will provide non-clinical management, technology, marketing, administrative, and other operational support services in exchange for a fair market value fee. Because CPOM laws vary significantly among jurisdictions and continue to evolve, regulatory authorities could determine that certain aspects of our arrangements are inconsistent with applicable laws or regulations. Such determinations could result in disciplinary action against clinician-licensees, fines or penalties, or require us to modify, restructure, or terminate existing arrangements, which could adversely affect our growth strategy and financial performance.

 

Fee-Splitting Restrictions

 

Many states prohibit or restrict arrangements under which a physician or other licensed practitioner shares professional fees with non-practitioners. These fee-splitting laws are often closely related to CPOM restrictions and may limit the compensation structures that can be used between a medical practice or an ASC and the MSO. For example, in certain states such as New York, management fees that are structured as a percentage of a practice’s or ASC’s revenue are prohibited. Altivera intends to structure its MSAs and related fees in a manner designed to comply with applicable fee-splitting restrictions and to obtain third-party fair market value opinions for its management fees. However, because these laws differ among jurisdictions and are often subject to limited judicial or regulatory guidance, governmental authorities could conclude that certain aspects of our arrangements violate applicable fee-splitting requirements. Any such finding could result in licensee discipline, fines, penalties, the invalidation of contractual arrangements, or the need to restructure our business relationships. Additionally, CPOM and fee-splitting restrictions increase Altivera’s compliance costs required to ensure there are no violations.

 

Federal and State Healthcare Fraud, Waste, and Abuse Laws

 

Managed practices operating on the Platform may participate in federal and state healthcare programs, including Medicare and Medicaid. As a result, such practices are subject to various federal and state healthcare fraud and abuse laws, including the federal Anti-Kickback Statute, the federal physician self-referral law commonly known as the Stark Law, the federal False Claims Act, and analogous state laws. The Anti-Kickback Statute generally prohibits the knowing offer, payment, solicitation, or receipt of remuneration to induce or reward referrals or generate business reimbursable under federal healthcare programs. The Stark Law generally prohibits physicians from referring patients for certain designated health services to entities with which the physician or immediate family members have specified financial relationships unless an exception applies. Although Altivera intends to structure its operations and contractual arrangements in compliance with applicable fraud, waste, and abuse laws, the governing regulatory framework is complex and requires heightened costs to ensure compliance. Violations of these laws may result in substantial civil or criminal penalties (including imprisonment), exclusion from participation in government healthcare programs, repayment obligations, and significant reputational harm.

 

Medicare, Medicaid, and Commercial Reimbursement

 

The financial performance of many ophthalmology practices depends heavily upon reimbursement from Medicare, Medicaid, and commercial health insurers. Reimbursement methodologies, coverage policies, coding requirements, documentation standards, and payment rates are established and periodically revised by governmental agencies and private payors. Future reductions in reimbursement rates, increases in reimbursement scrutiny, modifications to coverage policies, or changes to documentation requirements may adversely affect the profitability of ophthalmology practices and reduce the value of Altivera’s management relationships.

 

23

 

 

HIPAA and Healthcare Information Privacy

 

The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), as amended by the Health Information Technology for Economic and Clinical Health Act (“HITECH”), establishes requirements relating to the privacy, security, transmission, and safeguarding of protected health information (“PHI”). Altivera expects to receive, process, analyze, or otherwise access PHI through its marketing, CRM, patient-journey management, lead-generation, and operational support activities. To the extent Altivera is deemed to create, receive, maintain, or transmit PHI on behalf of healthcare providers, Altivera will be required to comply with HIPAA’s privacy, security, and breach-notification requirements and enter into business associate agreements with partner practices. Failure to comply with HIPAA or other applicable privacy laws could result in governmental investigations, enforcement actions, monetary penalties, contractual liability, reputational harm, and increased compliance costs.

 

State Privacy and Consumer Data Protection Laws

 

Numerous states have enacted comprehensive privacy laws governing the collection, use, disclosure, retention, and protection of personal information. Such laws may apply to Altivera’s collection and use of patient, consumer, and marketing-related data through the Platform and patient-acquisition activities. These laws continue to evolve and may impose additional compliance obligations, including requirements relating to consumer disclosures, data processing practices, cybersecurity measures, consumer rights requests, and vendor management. Compliance with these laws may increase Altivera’s operating costs and require modifications to its technology systems and business practices.

 

Marketing, Advertising, and Consumer Protection Regulation

 

Altivera’s business strategy relies significantly on patient-acquisition activities, digital marketing, lead generation, content development, and consumer engagement initiatives. These activities are subject to oversight under federal and state consumer protection and advertising laws, including regulations enforced by the Federal Trade Commission (“FTC”), state attorneys general, and other regulatory authorities (including but not limited to healthcare fraud and abuse laws). Healthcare-related advertising and marketing communications are also subject to requirements concerning accuracy, substantiation of claims, disclosures, endorsements, testimonials, and deceptive or unfair trade practices. Regulatory scrutiny of artificial intelligence applications in advertising, consumer targeting, and automated decision-making continues to increase. Any determination that Altivera’s marketing activities violate applicable advertising or consumer protection requirements could result in investigations, enforcement actions, corrective measures, fines, or restrictions on our marketing practices.

 

Physician Licensure and Telehealth Requirements

 

The ophthalmologists and other healthcare professionals practicing within partner practices must maintain all licenses, certifications, permits, and registrations required under applicable law. In addition, any telehealth or virtual-consultation services offered through partner practices may be subject to additional federal and state requirements governing patient interactions, licensure, information technology security, informed consent, prescribing practices, and recordkeeping. Changes in telehealth regulations or professional licensure requirements could affect the ability of partner practices to offer certain services, which may adversely affect patient volumes and practice profitability.

 

Ambulatory Surgery Center Regulation

 

Many ophthalmology practices operate, own, or maintain relationships with ASCs. ASCs are subject to extensive federal, state, and local regulation, including licensure, accreditation, patient safety, quality-of-care, Medicare certification, facility standards, and distinct healthcare fraud, waste, and abuse and disclosure laws. Compliance costs associated with ASCs are increased for these reasons. To the extent Altivera acquires ownership interests in ASCs, where permitted by law, the Company may become subject to additional regulatory obligations and liabilities. Failure of an ASC to maintain required licenses, certifications, accreditations, and/or compliance with applicable fraud and abuse laws or disclosure obligations could adversely affect patient care operations and financial performance.

 

24

 

 

Artificial Intelligence and Emerging Regulatory Frameworks

 

Altivera intends to utilize artificial intelligence and machine-learning technologies in connection with patient acquisition, marketing, consultation support, lead scoring, workflow optimization, and analytics. Federal and state policymakers continue to evaluate new laws and regulations governing artificial intelligence, automated decision-making systems, data usage, algorithmic transparency, and consumer protection. The adoption of new AI-related requirements could increase compliance costs, restrict the use of certain technologies, require modifications to existing systems, or delay the deployment of new products and services. As regulatory frameworks continue to evolve, Altivera may be required to adapt its operations and Platform to comply with future legal requirements.

 

Future Regulatory Developments

 

Healthcare regulation in the United States continues to evolve rapidly. Future legislative, regulatory, judicial, or enforcement developments affecting healthcare delivery, MSO structures, physician-practice ownership, investment, and management, healthcare marketing, artificial intelligence, privacy, reimbursement, disclosure obligations, or fraud, waste, and abuse laws may materially affect Altivera’s business model and operating results. Although the Company intends to monitor regulatory developments and adapt its business practices as necessary, there can be no assurance that future changes in law or regulatory interpretation will not adversely affect the Company’s operations, growth strategy, financial condition, or prospects.

 

Competitive Landscape

 

The ophthalmology MSO and consolidation sector includes several large physician-practice management platforms and private equity–backed organizations. Notable industry participants include:

 

Ophthalmic PE-Backed Platforms

 

Rank  Company  Notes on Scale*
1  EyeCare Partners  Widely considered the largest integrated ophthalmology + optometry platform in the U.S.; ~671 locations, 300+ ophthalmologists, 700+ optometrists. Backed by Partners Group.
2  Retina Consultants of America  Largest retina-only platform in the country; 200+ locations and 220+ retina specialists. Backed historically by Webster Equity and now part of Cencora expansion strategy.
3  EyeSouth Partners  One of the largest comprehensive ophthalmology platforms in North America; 290+ physicians, 160+ locations. Retina division recently sold for $1.1B. Backed by Olympus Partners.
4  American Vision Partners  Major Southwest-focused ophthalmology consolidator with 60+ locations and 20+ ASCs. Backed by H.I.G. Capital.
5  Nvision Eye Centers  Large refractive/cataract-focused platform with LASIK emphasis and national branding presence. PE-backed historically by KKR. Ranked among largest ophthalmology groups nationally.
6  CVP (CEI Vision Partners)  One of the earliest ophthalmology PE roll-ups; strong Midwest footprint with cataract/ASC strength. Backed by Revelstoke historically.
7  Prism Vision Group  Large East Coast integrated ophthalmology group with strong retina presence. Backed by Quad-C.
8  SightMD  Rapidly expanding Northeast eye-care platform with ophthalmology, retina, and optometry integration. PE-backed.
9  ReFocus Eye Health  Significant New England and Northeast footprint with multispecialty ophthalmology integration.
10  Vision Innovation Partners  Large Mid-Atlantic regional consolidator with extensive ophthalmology network and ASC infrastructure.
11  Eye Health America  Large Southeastern integrated ophthalmology platform backed by PE.
12  Comprehensive EyeCare Partners  Strong retina and surgical ophthalmology footprint in western U.S. markets.
13  Midwest Vision Partners  Midwest-focused consolidation platform with strong physician partnership model.
14  SEES Group  Growing Southeast-focused ophthalmology/optometry platform backed by Shore Capital.
15  Atlantic Vision Partners  Smaller but active ophthalmology consolidator in the Mid-Atlantic/Southeast regions.

 

*Company-level rankings, location counts, ophthalmologist and optometrist counts, and ownership information for the platforms listed above are based on publicly available industry sources, including PitchBook Healthcare Private Equity Reports and McGuireWoods Healthcare Private Equity Reports.

 

These organizations compete with the Company for partnership opportunities, physician relationships, management talent, and capital. Many competitors have greater financial resources, longer operating histories, or broader geographic footprints. However, the Company believes that its ability to offer a combination of a disciplined, compliant management and ASC partnership model that keeps physicians aligned combined with MSO services, exclusively licensed AI marketing and lead-generation services, best-practice clinical and consultation workflows, and integrated patient-journey management will give Altivera the ability to compete successfully in this market.

 

Employees

 

As of the date of this Offering Circular, the Company has 2 full-time employees.

 

Legal Proceedings

 

We know of no existing or pending legal proceedings against us, nor are we involved as a plaintiff in any proceeding or pending litigation. There are no proceedings in which any of our directors, officers or any of their respective affiliates, or any beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

 

25

 

 

THE COMPANY’S PROPERTY

 

Altivera Vision Inc. operates on a fully-remote basis and does not have a headquarters. The Company has limited fixed assets consisting mostly of computer hardware used by employees. The Company’s current mailing address is associated with its registered agent, 8 The Green, Suite 26492, Dover, DE, 19901.

 

26

 

 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

The following discussion of our financial condition and results of operations should be read in conjunction with our audited financial statements as of December 31, 2025 and for the period from July 7, 2025 (inception) through December 31, 2025, and the related notes included in this offering statement. The following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements as a result of various factors, including those set forth under “Risk Factors” and elsewhere in this offering circular.

 

Results of Operations

 

The Company was incorporated on July 7, 2025 and, as of December 31, 2025, had not commenced its principal operations, completed any acquisitions, or generated any revenue. The Company’s activities to date have consisted of organizational efforts and the initial development of its business plan, funded primarily through advances and a loan from its parent and controlling stockholder, Rad Technologies, Inc. The Company incurred a net loss of $333,370 for the period from July 7, 2025 (inception) through December 31, 2025, consisting of general and administrative expenses of $145,019 and sales and marketing expenses of $188,351. The Company generated no revenue during the period.

 

Cash Flows

 

For the period from July 7, 2025 (inception) through December 31, 2025, net cash used in operating activities was $0. The Company’s net loss of $333,370 was offset by $396,370 of expenses that RAD Intel paid directly on the Company’s behalf (rather than through a cash advance to the Company), partially reduced by a $63,000 increase in prepaid expenses. Net cash provided by financing activities was $150,000, representing the proceeds of a loan from RAD Intel described below. As a result, the Company’s cash increased from $0 at inception to $150,000 as of December 31, 2025.

 

Because RAD Intel funded substantially all of the Company’s operating expenses directly during the period, rather than through cash advances to the Company, the Company’s reported net cash used in operating activities does not reflect the full economic cost of its operations to date. Absent this related-party funding, the Company would not have had sufficient cash to fund its operations for the period presented.

 

Liquidity and Capital Resources

 

As of December 31, 2025, the Company had cash of $150,000, total liabilities of $546,370 (consisting entirely of related-party advances and a related-party loan described below), and a working capital deficit and accumulated deficit of $333,370.

Since inception, the Company has been dependent on funding from RAD Intel to sustain its operations. As of December 31, 2025:

 

● RAD Intel had paid $396,370 of the Company’s general and administrative, sales and marketing, and other organizational expenses on the Company’s behalf. The full amount remained outstanding and unpaid as “due to related parties” on the Company’s balance sheet as of December 31, 2025. These advances are unsecured, non-interest-bearing, and have no fixed repayment terms.

 

● The Company had also borrowed $150,000 from RAD Intel under a non-interest-bearing loan payable on demand. The full amount remained outstanding as of December 31, 2025.

 

There can be no assurance that RAD Intel will continue to fund the Company’s operations, or that the terms of any continued funding will not change. See “Interest of Management and Others in Certain Transactions” and Note 5 to the audited financial statements.

 

Delayed Draw Term Loan and Security Agreement

 

Subsequent to December 31, 2025, Altivera entered into a Delayed Draw Term Loan and Security Agreement with RAD Intel, effective September 1, 2026, establishing a new committed source of capital for the Company’s operations. The facility provides for delayed draw term loans of up to $2,500,000 in the aggregate, drawable in tranches of a minimum of $25,000 per advance, subject to RAD Intel’s approval and the satisfaction of customary funding conditions. RAD Intel is not obligated to increase its commitment beyond $2,500,000. Amounts RAD Intel advanced to or for the benefit of the Company or the guarantors prior to the effective date are deemed to constitute the initial advance under the facility and are subject to its terms.

 

27

 

 

Advances bear interest at 9.0% per annum. During the first 24 months following the effective date (the “PIK Period”), interest is paid in kind by capitalizing and compounding it quarterly into outstanding principal, rather than being paid in cash, which will increase the principal amount owed over time even absent additional draws. After the PIK Period, RAD Intel may elect, in its discretion, to require cash interest payments, which would increase the Company’s cash operating requirements. A default rate of an additional 5.0% applies during an event of default, and a 1.0% annual fee is payable on the undrawn portion of the commitment.

 

As of the date of this Offering Circular, $1,396,370 in aggregate principal was outstanding under the facility (before the effective date of September 1, 2026 this amounted to $1,046,370) and $1,103,630 remained available for future draws, subject to RAD Intel’s approval and the satisfaction of customary funding conditions.

 

A copy of this facility is filed as exhibit 6.3 to the Offering Statement of which this Offering Circular forms a part and is described more fully in the “Interest of Management and Others in Certain Transactions” section of this Offering Circular.

 

The Company expects to repay the amounts outstanding under the facility at maturity through a combination of proceeds of this offering or potential future offerings and operating cash flow generated by the MSO’s expected management fees and ASC ownership interests. Because the facility does not amortize and interest compounds during the PIK Period, the amount ultimately due at maturity will be significantly larger than the amounts initially drawn, and the Company’s ability to repay or refinance the facility will depend on factors that are not yet known or assured, including the success of this offering and the pace at which the Company is able to generate management fee revenue from Practices.

 

Other Related-Party Fee Obligations

 

Subsequent to December 31, 2025, the Company also entered into a Software License Agreement and a Managed Services Agreement with RAD Intel, each effective September 1, 2026, and described under the “Interest of Management and Others in Certain Transactions” Section of this Offering Circular. These agreements will require the Company to pay RAD Intel (i) a royalty of 12.5% of net marketing fee revenue under the Software License Agreement, (ii) a monthly service fee equal to RAD Intel’s cost plus 5%, for accounting, human resources, and information technology services under the Managed Services Agreement, plus reimbursement of related third-party costs at cost, and (iii) once the Company’s consolidated trailing-twelve-month gross revenues first reach $3,000,000, a management fee equal to 0.75% of consolidated gross revenues, payable quarterly in arrears, for strategic and executive management support. These payment obligations will represent additional demands on the Company’s future cash resources as its business scales.

 

28

 

 

Going Concern

 

As discussed in Note 3 to the Company’s audited financial statements, the Company has not commenced its principal operations or generated any revenue since inception, incurred a net loss of $333,370 for the period from inception through to December 31, 2025, had a working capital deficit of $333,370 as of December 31, 2025, and has no committed sources of revenue. These factors raise substantial doubt about the Company’s ability to continue as a going concern, and the independent auditor’s report accompanying the Company’s financial statements includes an explanatory paragraph regarding this uncertainty. Management’s plans to address these conditions include continuing to rely on financial support from RAD Intel (including under the Delayed Draw Term Loan and Security Agreement described above), raising additional capital through this offering and other equity or debt financings, and ultimately generating revenue from the operation of acquired ophthalmology practices and/or services provided to ophthalmology practices. There can be no assurance that any such financing will be available on acceptable terms, or at all, or that the Company’s acquisition and growth strategy will be successfully executed. The Company’s financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 

Plan of Operations

 

   During the twelve months following the commencement of this offering, the Company’s plan of operations is to establish the foundational elements of its MSO model and to prepare the Platform for practice partnerships. The Company’s principal objectives during this period are described below.

 

a. Develop, refine and validate the core components of the Company’s partnership model, including:

 

i. the legal and commercial structures and forms of agreement for management services arrangements with practices and, where applicable, for the acquisition of interests in affiliated ambulatory surgery centers;

 

ii. the configuration and deployment of the Company’s exclusively licensed AI marketing and lead-generation technology (i.e. the Platform) and the associated patient consultation and conversion processes;

 

iii. clinical and surgical operating structures and workflows intended to support efficiency and quality of care at partner practices; and

 

iv. the initial MSO infrastructure required to deliver accounting, revenue cycle management, human resources, legal, procurement, technology and general operational and administrative support to partner practices.

 

b. Identify and evaluate candidate markets and practices and seek to establish the Company’s initial management services arrangement or arrangements and, where applicable and permitted, related surgery center interests.

 

c. Continue to build the Company’s management team and internal capabilities to support the foregoing activities.

 

The pace and extent of the Company’s activities, and the number of practice partnerships or surgery center interests, if any, that the Company establishes during this period, will depend on a number of factors, including the amount of proceeds raised in this offering, the availability of suitable partnership candidates and market conditions. As of the date of this Offering Circular, the Company has not identified any target practices or affiliated surgery centers, has not entered into any management services agreement, and has made no acquisition offers. Establishing a practice partnership or completing any acquisition will be a prerequisite to our Company generating revenues, and there can be no assurance that the Company will establish any practice partnership or complete any acquisition during the first twelve months or at all.

 

The Company expects that, if the maximum offering amount is raised, the net proceeds of this offering, together with the Company’s other available resources, will be sufficient to fund its planned operations for at least the twelve months following the commencement of this offering.

 

Proceeds are expected to be applied principally to the configuration and deployment of the Company’s licensed technology and related marketing capabilities, the build-out of initial MSO infrastructure, the establishment of its initial practice partnership arrangements and related transaction costs, and general working capital. Because the Company is in its development stage, its objective is to scale with the level of proceeds raised and the timing of its activities, and the Company intends to manage expenditures to extend its runway across, and, if practicable, beyond, the twelve-month period.

 

29

 

 

This offering is being conducted on a “best efforts” basis, and there is no assurance that the maximum amount will be raised. If the Company raises less, it intends to prioritize the activities most critical to its plan of operations and to adjust the scope, sequencing and timing of its remaining activities — which may include deferring discretionary expenditures, limiting the number of partnerships or acquisitions it pursues, or extending its timeline. A significant shortfall could delay or curtail the plan of operations and require the Company to seek additional financing sooner than anticipated. As an additional resource, the Company has access to undrawn availability under a delayed-draw term loan facility with RAD Intel, which it may draw upon, subject to the terms and conditions of that facility, in the event of lower-than-expected proceeds or higher-than-anticipated expenditures. There can be no assurance as to the amount that will ultimately be available.

 

If the Company’s available resources prove insufficient, it may need to raise additional capital through subsequent equity or debt financings, or to modify or delay elements of its plan of operations. Such financing may not be available on acceptable terms, or at all, and the Company’s ability to continue as a going concern depends on its ability to raise sufficient capital in this offering and, as necessary, from other sources. These matters should be read

together with the risk factors set forth elsewhere in this Offering Circular.

 

Trend Information

 

The Company has a limited operating history and has not yet generated revenue from its intended operations. As a result, it has no historical sales, inventory, order book, or selling-price trends to report. The Company’s business plan is nonetheless informed by favorable demand trends in the U.S. ophthalmology market, including an aging population, rising prevalence of age-related ocular conditions, and a projected shortfall between ophthalmologist supply and patient demand, alongside a continuing shift toward higher-priced, lens-based elective procedures. The Company’s future results will also be affected by known uncertainties, including continued consolidation of the ophthalmology MSO sector, evolving corporate-practice-of-medicine, fee-splitting, healthcare fraud and abuse, artificial intelligence, and privacy regulation, changes in third-party reimbursement, the Company’s dependence on RAD Intel for its licensed technology, management services, and secured financing, and the amount and timing of capital it is able to raise, including in this offering. 

 

30

 

 

DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES 

 

Name   Position   Age   Term in Office   Approximate hours per
week for part-time
employees
Executive Officers                
Steven Silver*   Chief Executive

Officer

  59   July 2026 to Present   Part-time
Dr. Jeffrey Machat†   President, Chief Medical Officer   64   July 2026 to Present   32 hours per week
Deon Kibel   Chief Operating and Financial Officer   64   July 2025 to Present   Full-time
Alan Arnstein   Vice President, Business Development       July 2025 to Present   Part-time
Directors       58        
Jeremy Barnett   Director   51   July 2025 to Present    
Bradley Silver   Director   52   July 2025 to Present    
Dr. Jeffrey Machat   Director   64   July 2025 to Present    
Steven Silver   Director   59   September 2026 to Present    

 

*Steven Silver previously served as the Company’s President from March 17, 2026 through June 30, 2026.

 

†Dr. Jeffrey Machat previously served as the Company’s Chief Executive Officer from March 17, 2026 through June 30, 2026.

 

Steven Silver – Chief Executive Officer, and Director

 

Steven Silver serves as Chief Executive Officer of Altivera Vision and leads the Company’s overall strategy and execution. Mr. Silver has served as the Company’s Chief Executive Officer since July 2026. Prior to that, he served as the Company’s President from March 2026 to June 2026. Mr. Silver is an experienced media, operations, and growth leader who also serves as Chief Operating Officer at RAD Intel, where he drives scale in its AI-driven marketing and intelligence platform and has served since 2025. In the 5 years prior to joining RAD Intel full time, Mr. Silver served as a strategic and operational consultant to companies in the healthcare, technology, and media sectors, including RAD Intel, advising on growth strategy, mergers and acquisitions, organizational development, operations, and technology-enabled business models. Previously, Mr. Silver served as CEO of Kew Media Group from 2016 to March 2020, where he led a global portfolio of production companies. He brings a disciplined approach to building Altivera’s Platform and integrating RAD Intel’s AI marketing and intelligence capabilities into ophthalmology.

 

Dr. Jeffrey Machat – President, Chief Medical Officer, and Director

 

Dr. Jeffrey Machat serves as Chief Medical Officer of Altivera Vision and leads the Company’s physician relationships, clinical strategy, and internal clinical processes, including the development and implementation of Altivera’s best-practice clinical, consultation, and conversion workflows. Dr. Machat has served as the Company’s Chief Medical Officer and President since July 2026. Prior to that, he served as the Company’s Chief Executive Officer from March 2026 to June 2026. Dr. Machat is a refractive surgeon and entrepreneur with more than three decades of experience in ophthalmology practice development and scaling. He has performed over 110,000 LASIK procedures and previously co-founded TLC Laser Eye Centers, which grew to 83 clinics and became the largest LASIK provider in North America. Dr. Machat has also played a senior role in building Optical Express into a leading European platform and has consulted for multiple large vision-care organizations. He has been the Medical Director and a LASIK Surgeon at the Lasik Vision Institute since June 2019. The Company believes this depth of clinical and operational experience is critical to its ability to partner effectively with surgeons and execute its growth strategy. Dr. Machat also holds a senior leadership role within RAD Intel.

 

Deon Kibel – Chief Operating and Financial Officer

 

Deon Kibel serves as Chief Operating Officer and Chief Financial Officer of Altivera Vision. Mr. Kibel has extensive experience operating, financing, acquiring, and integrating mid-market businesses as well as in investment banking and mezzanine debt financing in Europe and North America. In the 5 years prior to joining Altivera Mr. Kibel has been engaged as the founder and operator of a privately owned real-estate investment and development company focused on developing and investing in value-add retail and multi-residential apartment properties in Canada and the US. Previously, Mr. Kibel has been the VP Finance/CFO of Carina Furniture Industries, a leading North American manufacturer of ready-to-assemble furniture, and Vice President, Corporate Finance at TD Securities, the investment banking arm of TD Bank.

 

Alan Arnstein – Vice President, Business Development

 

Alan Arnstein serves as Vice President of Business Development and leads the Company’s partner-practice pipeline, including evaluation and execution of management-partnership opportunities across the U.S. ophthalmology market. Previously, Alan has held the position of President at Arnstein Consulting Inc, between the years of 2023 and 2025, before that Alan was the Vice President of Business Development at AmeriVet Veterinary Partners for six years between 2017 and 2023.

 

Jeremy Barnett, Director

 

Jeremy Barnett, is the CEO and co-founder of RAD Intel and is a 3x startup founder with 2 exits, including Trendy Butler (fashion tech). Jeremy has successfully led companies and raised capital with institutional investors such as Fidelity Investments, SOS Ventures, Expert Dojo, and more. He has experience building companies from 0-100+ employees. Mr. Barnett has served as CEO for RAD Intel since the company was founded in March 2018.

 

Bradley Silver, Director

 

Bradley Silver is the President and co-founder of RAD Intel and is also a 3x startup founder with 2 exits including Brand Protect. He has extensive experience raising capital and has worked with investors such as Fidelity Investments, GenWealth Ventures, MaRS AF, Brigus Capital, and Greybrook. He has experience scaling companies to $30m+ in annual recurring revenue. Mr. Silver has been with RAD Intel since June 2021. Prior to that he served as the CEO of Atomic Reach from November 2010 until October 2021.

 

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COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS

 

For the period from July 7, 2025 (inception) to December 31, 2025, the Company compensated its executive officers and directors as follows:

 

Name  Capacities in which
compensation was
received
 

Cash

Compensation

  

Other

Compensation

  

Total

Compensation

 
Steven Silver  CEO, Director  $0   $0   $0 
Dr. Jeffrey Machat  President, Chief Medical Officer  $90,000   $0   $90,000 
Deon Kibel  Chief Operating and Financial Officer  $52,000   $0   $52,000 
Alan Arnstein  Vice President, Business Development  $0   $0   $0 
Jeremy Barnett  Director  $0   $0   $0 
Bradley Silver  Director  $0   $         0   $0 

 

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SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITY HOLDERS

 

The following information on the security ownership of management and others is as of September 30, 2026:

 

Name and Address of Beneficial Owner (1)  Amount and nature of beneficial ownership (3)   Amount and nature of beneficial ownership acquirable   Percent of class 
RAD Technologies Inc. (2)(4)   146,511,627    0    73.26%
Jeff Machat(4)   16,279,070    0    8.14%
Jeremy Barnett   11,627,907    0    5.81%
Bradley Silver   11,627,907    0    5.81%
Jacaranda Capital Inc. (5)   6,976,744    0    3.49%
Alan Arnstein   2,325,582    0    1.16%
Joseph Freedman   2,325,582    0    1.16%
Deon Kibel(4)   2,325,581    0    1.16%
Totals   200,000,000    0%   100.00%

 

(1)The address of all beneficial owners is the Company’s address: 8 The Green, Suite 26492, Dover, DE, 19901.
(2)The shares owned by Rad Technologies Inc. may be deemed to be beneficially owned by the board of directors of Rad Technologies Inc., acting by majority vote. No individual director has sole voting or dispositive power over the shares of the Company held by Rad Technologies Inc.
(3)Represents shares of the Company’s Class A Common Stock.
 (4)In September 2026, the Company’s board approved the following transfers amongst its shareholders: Jeffrey Machat transferred 27,906,976 shares to RAD Technologies and 2,325,581 shares to Deon Kibel.
 (5)Jacaranda Capital Inc. is 50% owned by Deon Kibel, the Company’s Chief Financial Officer, and Steven Silver, the Company’s Chief Executive Officer.

 

33

 

 

INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS

 

RAD Intel Relationship

 

RAD Intel is the Company’s affiliate and, as of the date of this Offering Circular, holds a majority of the Company’s outstanding equity. In addition, certain of the Company’s officers and directors also hold executive or director positions with RAD Intel, as follows:

 

●Steven Silver, the Company’s Chief Executive Officer, also serves as Chief Operating Officer of RAD Intel, a position he has held since 2025.
●Jeremy Barnett, a director of the Company, has served as Chief Executive Officer of RAD Intel since RAD Intel’s founding in March 2018.
●Bradley Silver, a director of the Company, has served as President of RAD Intel since June 2021.

 

34

 

 

Because of RAD Intel’s status as the Company’s majority stockholder and the overlapping officers and directors described above, each of the agreements between the Company (or its subsidiaries) and RAD Intel described below is a related-party transaction and was not negotiated at arm’s length by parties free of affiliation.

 

Software License Agreement

 

As described above under “Altivera Vision Company Overview,” Altivera has entered into a Software License Agreement with RAD Intel, effective September 1, 2026, granting Altivera an exclusive, worldwide, field-limited license to RAD Intel’s AI-powered marketing and lead-generation platform (the “RAD AI Platform”). In consideration, Altivera pays RAD Intel a royalty of 12.5% of net marketing fee revenue, reported and paid quarterly. The agreement has a 20-year initial term with successive two-year renewals.

 

A copy of this agreement is filed as exhibit 6.1 to the Offering Statement of which this Offering Circular forms a part.

 

Managed Services Agreement

 

As described above under “Altivera Vision Company Overview,” Altivera has entered into a Managed Services Agreement with RAD Intel, effective September 1, 2026, under which RAD Intel provides accounting, human resources, information technology, and strategic and executive management support services. Altivera pays cost-plus-5% fees for accounting, human resources, and information technology services (estimated at $10,000 to $25,000 per month), plus reimbursement of third-party costs at cost, and a management fee equal to 0.75% of consolidated gross revenues, payable quarterly in arrears, for strategic and executive management support, provided that no such management fee accrues or becomes payable until the Company’s consolidated trailing-twelve-month gross revenues first reach $3,000,000. The agreement has an initial three-year term, automatically renewing for successive one-year terms.

 

A copy of this agreement is filed as exhibit 6.2 to the Offering Statement of which this Offering Circular forms a part.

 

Delayed Draw Term Loan and Security Agreement

 

Altivera Vision Inc. has entered into a Delayed Draw Term Loan and Security Agreement, effective September 1, 2026, with RAD Intel, as lender. The agreement establishes a delayed draw term loan facility of up to $2,500,000, which the Company may draw in tranches (minimum $25,000 per advance), subject to RAD Intel’s approval and the satisfaction of customary funding conditions; RAD Intel has no obligation to increase its commitment. Amounts RAD Intel advanced to, or for, the benefit of the Company or the guarantors before the effective date are deemed to constitute the initial advance under the facility and are subject to its terms. Amounts RAD Intel advanced to or for the benefit of the Company or the Guarantors (defined below) before the effective date (which amounted to $1,046,370 as of September 1, 2026) are deemed to constitute the initial advance under the facility and are subject to its terms. As of September 16, 2026, the Company has drawn a total of $1,396,370.00.

 

Advances bear interest at 9.0% per annum. During the first 24 months, interest is paid in kind by capitalizing and compounding it quarterly into the outstanding principal balance, rather than being paid in cash; after, RAD Intel may elect, in its discretion, to require cash interest payments. A default rate of an additional 5.0% applies during an event of default, and the Company pays a 1.0% annual unused line fee on the undrawn commitment.

 

The facility matures three years after the effective date, with all outstanding obligations due in full at maturity and no scheduled amortization beforehand. Voluntary prepayment is permitted, subject to an early repayment premium on any full payoff before maturity equal to the greater of the outstanding obligations or 105% of the aggregate principal advanced.

 

The loan is secured by a first-priority security interest in substantially all personal property of the Company and the guarantors, including intellectual property, and is guaranteed jointly and severally by Altivera Vision Management, LLC, Altivera Vision Holdings LLC, and Altivera Vision ASC Holdings LLC.

 

A copy of this agreement is filed as exhibit 6.3 to the Offering Statement of which this Offering Circular forms a part.

 

35

 

 

SECURITIES BEING OFFERED

 

General

 

This offering consists of shares of our Class B Common Stock, par value $0.0001 per share (“Class B Common Stock”). The Company is offering 71,428,571 shares of Class B Common Stock directly, plus up to 14,285,715 additional shares of Class B Common Stock eligible to be issued as Bonus Shares.

The following description summarizes the material terms of our capital stock and the respective rights of holders of Class B Common Stock and Class A Common Stock, and is qualified in its entirety by reference to our Amended and Restated Certificate of Incorporation (the “A&R Certificate of Incorporation”), a copy of which is filed as an exhibit to the offering statement of which this Offering Circular forms a part.

 

Under our A&R Certificate of Incorporation, as amended, our authorized capital stock consists of:

 

500,000,000 shares of Common Stock, par value $0.0001 per share

 

●200,000,000 shares designated as Class A Common Stock; and

●300,000,000 shares designated as Class B Common Stock.

 

Class A Common Stock

 

Voting Rights

 

Holders of Class A Common Stock are entitled to one vote for each share held on all matters submitted to a vote of our stockholders, including the election of directors, and may act by written consent in lieu of a meeting to the extent permitted by our A&R Certificate of Incorporation and Delaware law. There is no cumulative voting for the election of directors.

 

Conversion Rights

 

Voluntary Conversion: Each holder of Class A Common Stock has the right, at such holder’s sole election and at any time, to convert any or all of such holder’s shares of Class A Common Stock into an equal number of shares of Class B Common Stock, by delivering written notice to the Company. Conversion is effective upon delivery of the notice, at which point the Company updates its books and records to reflect the conversion. Class A Common Stock is not convertible into any other class of our capital stock other than Class B Common Stock, and, as noted above, Class B Common Stock is not convertible into Class A Common Stock.

 

Automatic Conversion: Shares Class A Common Stock will convert automatically into shares of Class B Common Stock upon a transfer, unless the transfer is (A) to another holder of shares of Class A Common Stock; (B) to a trust, family limited partnership, limited liability company, or other estate planning vehicle established for the benefit of the transferring holder or members of the transferring holder’s immediate family; (C) to an entity wholly owned and controlled by the transferring holder, or (D) that is approved in advance by the board of directors.

 

Additional information can be found in the Company’s A&R Certificate of Incorporation.

 

Class B Common Stock

 

Voting Rights

 

The shares of Class B Common Stock have no voting rights of any kind, except as may be otherwise required by law.

 

Other Rights & Terms

 

Other than the voting distinction described above, Class B Common Stock is entitled to the same dividend, distribution, and liquidation rights as Class A Common Stock. Class B Common Stock is not convertible into Class A Common Stock or any other class or series of our capital stock.

 

Additional information can be found in the Company’s A&R Certificate of Incorporation, as amended, filed as exhibit 2.1 to the Offering Statement of which this Offering Circular forms a part.

 

36

 

 

PLAN OF DISTRIBUTION AND SELLING SECURITY HOLDERS

 

Plan of Distribution

 

The Company is directly offering up to 71,428,571 shares of Class B Common Stock, plus up to 14,285,715 additional shares of Class B Common Stock as Bonus Shares.

 

The Company has engaged DealMaker Securities, LLC as the broker-dealer of record to assist in the offering of its securities. DealMaker Securities is under no obligation to purchase any securities or arrange for the sale of any specific number or dollar amount of securities. Although this role differs from that of a traditional underwriter in that the Broker does not purchase any securities from the Company with a view to sell such for the Company as part of the distribution of the security, the Broker is a statutory underwriter under Section 2(a)(11) of the Securities Act of 1933.

 

Commissions and Discounts

 

DealMaker Securities

 

The following table shows the total discounts and commissions payable to DealMaker Securities in connection with this Offering:

 

   Per Share   Maximum 
Public Offering Price  $0.280   $20,000,000 
Investor Fee (1)  $0.006   $400,000 
Commissions (2)  $0.014   $918,000 
Proceeds, before expenses, to us  $0.272   $19,482,000 

 

  (1) Investors will be responsible for a transaction fee equal to two percent (2.0%) of the purchase price for shares of Class B Common Stock paid at the time of investment (the “Investor Fee”), up to a maximum fee of $200 per transaction. DealMaker will receive commissions on the Investor Fee. If fully subscribed, the total Investor Fees collected would equal $400,000.
  (2) Represents the 4.5% commissions payable to DealMaker on proceeds raised in this offering.

 

Bonus Shares for Certain Investors (Up to 20%)

 

Certain investors in this Offering are eligible to receive bonus shares of Class B Common Stock, which effectively gives them a discount on their investment. Those investors will receive, as part of their investment, additional shares for their shares purchased (“Bonus Shares”). The amount of Bonus Shares investors in this offering are eligible to receive and the criteria for receiving such Bonus Shares is as follows:

 

  (i) “RAD Investor” Shares. Individuals or entities that are existing investors of RAD Technologies Inc. will be eligible to receive an additional 5% Bonus Shares based on the amount of their investment in this Offering.

 

37

 

 

  (ii) Volume Bonus. Investors that have not previously invested in the Company will be eligible to receive the following Bonus Shares based on the amount of their investment in this offering. The below table indicates the % of Bonus Shares such investors will be eligible to receive based on their investment amount:

 

Investment Range  Bonus Shares 
$5,000+   5%
$10,000+   10%
$25,000+   15%

 

Bonus Share Limits

 

Investors in this Offering are eligible to receive any of the above Bonus Shares in any combination. However, for the categories of Bonus Shares that may only be received if an investor purchases shares with cash, the maximum amount of Bonus Shares that any one investor may receive is 20% of their cash investment amount. This means that investors can only ever receive, cumulatively among cash investment Bonus Shares, Bonus Shares equal to 20% of the number of shares they have purchased.

 

DealMaker Securities has not been engaged to assist in the distribution of the Bonus Shares and will not receive any compensation related to the Bonus Shares.

 

DealMaker Securities, LLC is a broker-dealer registered with the Commission and a member of FINRA that has been engaged to provide administrative and compliance related functions in connection with this offering, and as broker-dealer of record, but not for underwriting or placement agent services. Affiliates of DealMaker have also been engaged to provide technology services, specifically Novation Solutions Inc. O/A DealMaker.

 

The aggregate compensation payable to Broker and its affiliates are described below.

 

  a.) Administrative and Compliance Related Functions

 

Broker will provide administrative and compliance related functions in connection with this offering, including

 

  ● Reviewing investor information, including identity verification, performing Anti-Money Laundering (“AML”) and other compliance background checks, and providing the Company with information on an investor in order for the Company to determine whether to accept such investor into the offering;
  ● If necessary, discussions with us regarding additional information or clarification on a Company-invited investor;
  ● Coordinating with third party agents and vendors in connection with performance of services;
  ● Reviewing each investor’s subscription agreement to confirm such investor’s participation in the offering and provide a recommendation to us whether or not to accept the subscription agreement for the investor’s participation;
  ● Contacting and/or notifying us, if needed, to gather additional information or clarification on an investor;
  ● Providing a dedicated account manager;
  ● Providing ongoing advice to us on compliance of marketing material and other communications with the public, including with respect to applicable legal standards and requirements;
  ● Reviewing and performing due diligence on the Company and the Company’s management and principals and consulting with the Company regarding same;
  ● Consulting with the Company on best business practices regarding this raise in light of current market conditions and prior self-directed capital raises;
  ● Providing white labelled platform customization to capture investor acquisition through DealMaker’s platform’s analytic and communication tools
  ● Consulting with the Company on question customization for investor questionnaire;

 

38

 

 

  ● Consulting with the Company on selection of webhosting services;
  ● Consulting with the Company on completing template for the offering campaign page;
  ● Advising us on compliance of marketing materials and other communications with the public with applicable legal standards and requirements;
  ● Providing advice to the Company on preparation and completion of this Offering Circular;
  ● Advising the Company on how to configure our website for the offering working with prospective investors;
  ● Providing extensive review, training and advice to the Company and Company personnel on how to configure and use the electronic platform for the offering powered by DealMaker.
  ● Assisting the Company in the preparation of state, Commission and FINRA filings related to the Offering; and
  ● Working with Company personnel and counsel in providing information to the extent necessary.

 

Such services will not include providing any investment advice or any investment recommendations to any investor.

 

For these services, we have agreed to pay Broker a one-time cash payment of $17,750 for accountable expenses, and a cash commission equal to four and one-half percent (4.5%) of the amount raised in the Offering, together not to exceed $935,749.99 if fully subscribed (which includes commissions on the Investor Fee charged to investors who invest via DealMaker).

 

  b.) Technology Services

 

The Company has also engaged Novation Solutions Inc. O/A DealMaker, an affiliate of DealMaker Securities to create and maintain the online subscription processing platform for the Offering.

 

After the qualification by the Commission of the Offering Statement of which this Offering Circular is a part, this Offering will be conducted using the online subscription processing platform of DealMaker through our website at invest.altiveravision.com, whereby investors will receive, review, execute and deliver subscription agreements electronically as well as make payment of the purchase price through a third party processor by ACH debit transfer or wire transfer or credit card or USDC stablecoin to an account we designate. DealMaker is providing the back-end technology to process investments on our invest.altiveravision.com website through its integrated payment solutions. There is no escrow established for this offering. We will hold closings upon the receipt of investors’ subscriptions and our acceptance of such subscriptions.

 

For these services, we have agreed to pay DealMaker a one-time payment of $5,000, plus a monthly payment of $2,000 not to exceed three months ($6,000) for accountable expenses. Once the Offering commences, we will pay a monthly account management fee of $2,000 for up to 9 months ($18,000). The maximum compensation to be paid to DealMaker is $29,000.

 

The maximum compensation to be paid to Broker and affiliates is $964,750 of the Offering proceeds.

 

Subscription Procedures – DealMaker Securities

 

After the Offering Statement has been qualified by the Commission, the Company will accept tenders of funds to purchase the Class B Common Stock. The Company may close on investments on a “rolling” basis (so not all investors will receive their shares on the same date). Investors may subscribe by tendering funds via wire, credit or debit card, or ACH only or USDC stablecoin only, and checks will not be accepted. Investors will subscribe via the Company’s website and investor funds will be processed via DealMaker’s integrated payment solutions. Funds will be held in the Company’s payment processor account until DealMaker has reviewed the proposed subscription, and the Company has accepted the subscription. Funds released to the Company’s bank account will be net funds (investment less payment for processing fees and a holdback equivalent to 5% for 90 days).

 

In order for an Investor to pay with USDC, they will select the “Stablecoin” option at the payment screen and then press submit. They will then be redirected to the payment processor to connect their crypto wallet in order to process the payment. Once the payment is processed, the investor will then be taken back to the DealMaker checkout page and will receive a payment confirmation.

 

The Company will be responsible for payment processing fees. Upon each closing, funds tendered by investors will be made available to the Company for its use.

 

39

 

 

In order to invest you will be required to subscribe to the offering via the Company’s website, invest.altiveravision.com integrating DealMaker’s technology and agree to the terms of the offering, Subscription Agreement, and any other relevant exhibit attached thereto.

 

Any investor that will be receiving Bonus Shares will also be required to subscribe to the offering via the Company’s website integrating DealMaker’s technology or via a separate electronic document signature technology employed by the Company. All investors that receive Bonus Shares will be required to agree to the terms of the offering, Subscription Agreement, and any other relevant exhibit attached thereto.

 

Investors will be required to complete a subscription agreement in order to invest. The subscription agreement includes a representation by the investor to the effect that, if the investor is not an “accredited investor” as defined under securities law, the investor is investing an amount that does not exceed the greater of 10% of his or her annual income or 10% of their net worth (excluding the investor’s principal residence).

 

Any potential investor will have ample time to review the subscription agreement, along with their counsel, prior to making any final investment decision. Broker will review all subscription agreements completed by the investor. After Broker has completed its review of a subscription agreement for an investment in the Company, and the Company has elected to accept the investor into the offering, the funds may be released to the Company.

 

Broker has not investigated the desirability or advisability of investment in the Class B Common Stock, nor approved, endorsed or passed upon the merits of purchasing the Class B Common Stock. Under no circumstances will the Broker recommend the Company’s securities or provide investment advice to any prospective investor, or make any securities recommendations to investors. The Broker does not purchase any securities from the Company with a view to sell those for the Company as part of the distribution of the security. Broker is not distributing any Offering Circulars or making any oral representations concerning this Offering Circular or this offering. Based upon Broker’s anticipated limited role in this offering, it has not and will not conduct extensive due diligence of this offering and no investor should rely on the involvement of Broker in this offering as any basis for a belief that it has done extensive due diligence. Broker does not expressly or impliedly affirm the completeness or accuracy of the Offering Statement and/or Offering Circular presented to investors by the Company. All inquiries regarding this offering should be made directly to the Company.

 

Investor Fee

 

Investors that invest via DealMaker will be responsible for a 2.0% transaction fee applicable to the purchase amount paid by investors at the time of investment, which amounts to $20.00 for the minimum investment amount (the “Investor Fee”). Commissions are charged on the Investor Fee. This fee is not considered part of the cost basis of the subscribed Securities and will be remitted directly to the Company. All investments will have a maximum Investor Fee of $200.00, which represents the fee for a $10,000 investment.

 

Transfer Agent and Registrar

 

DealMaker Transfer Agent will serve as transfer agent to maintain shareholder information on a book-entry basis. We will not issue shares in physical or paper form. Instead, our shares will be recorded and maintained on our shareholder register.

 

Provisions of Note in Our Subscription Agreement

 

Forum Selection Provision

 

The subscription agreement that investors will execute in connection with the Offering includes a forum selection provision that requires any claims against the Company based on the agreement to be brought in a state or federal court of competent jurisdiction in the State of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon the agreement. To the extent it is enforceable, the forum selection provision may limit investors’ ability to bring claims in judicial forums that they find favorable to such disputes and may discourage lawsuits with respect to such claims. The Company has adopted the provision to limit the time and expense incurred by its management to challenge any such claims. As a company with a small management team, this provision allows its officers to not lose a significant amount of time travelling to any particular forum so they may continue to focus on operations of the Company. Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. We believe that the exclusive forum provision applies to claims arising under the Securities Act, but there is uncertainty as to whether a court would enforce such a provision in this context. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Investors will not be deemed to have waived the Company’s compliance with the federal securities laws and the rules and regulations thereunder.

 

40

 

 

ONGOING REPORTING AND SUPPLEMENTS TO THIS OFFERING CIRCULAR

 

We will be required to make annual and semi-annual filings with the SEC. We will make annual filings on Form 1-K, which will be due by the end of April each year and will include audited financial statements for the previous fiscal year. We will make semi-annual filings on Form 1-SA, which will be due by September 28 each year, which will include unaudited financial statements for the six months to June 30. We will also file a Form 1-U to announce important events such as the loss of a senior officer, a change in auditors or certain types of capital-raising. We will be required to keep making these reports unless we file a Form 1-Z to exit the reporting system, which we will only be able to do if we have less than 300 shareholders of record and have filed at least one Form 1-K.

 

At least every 12 months while this offering is open, we will file a post-qualification amendment to the Offering Statement of which this Offering Circular forms a part, to include the company’s recent financial statements.

 

We may supplement the information in this Offering Circular by filing a Supplement with the SEC.

 

All these filings will be available on the SEC’s EDGAR filing system. You should read all the available information before investing.

 

41

 

 

ALTIVERA VISION INC.

 

FINANCIAL STATEMENTS

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

Financial Statements and Independent Auditors’ Report

As of

December 31, 2025

And

For the Period from July 7, 2025 (Inception) to December 31, 2025

 

F-1

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

 

TABLE OF CONTENTS  
   
  Page
   
INDEPENDENT AUDITORS’ REPORT F-3 - F-4
   
BALANCE SHEET AS OF DECEMBER 31, 2025 F-5
   
STATEMENT OF OPERATIONS FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025 F-6
   
STATEMENT OF CHANGES IN STOCKHOLDER’S EQUITY/(DEFICIT) FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025 F-7
   
STATEMENT OF CASH FLOWS FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025 F-8
   
NOTES TO THE FINANCIAL STATEMENTS F-9

 

F-2

 

 

 

To the Board of Directors of

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

Dover, DE

 

INDEPENDENT AUDITOR’S REPORT

 

Opinion

 

We have audited the accompanying financial statements of Altivera Vision Inc. (f/k/a VisAI Partners Inc) (the “Company”), which comprise the balance sheet as of December 31, 2025, related statements of operations, changes in stockholder’s equity/(deficit), and cash flows for the period from July 7, 2025 (inception) through December 31, 2025, and the related notes to the financial statements.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the period from July 7, 2025 (inception) through December 31, 2025 in accordance with accounting principles generally accepted in the United States of America.

 

Basis for Opinion

 

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

 

Substantial Doubt About the Company’s Ability to Continue as a Going Concern

 

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 3 to the financial statements, the Company has not commenced its principal operations nor generated revenues since inception, has incurred a net loss of $333,370 for the period ended December 31, 2025, and as of December 31, 2025, had a working capital deficit of $333,370. These factors, among others, 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 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

 

Responsibilities of Management for the Financial Statements

 

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

 

Artesian CPA, LLC

1312 17th Street, #462 | Denver, CO 80202

p: 877.968.3330 f: 720.634.0905

info@ArtesianCPA.com | www.ArtesianCPA.com

 

F-3

 

 

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

 

Auditor’s Responsibilities for the Audit of the Financial Statements

 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

 

In performing an audit in accordance with generally accepted auditing standards, we:

 

●Exercise professional judgment and maintain professional skepticism throughout the audit.

 

●Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 

●Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, no such opinion is expressed.

 

●Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 

●Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

 

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

 

/s/ Artesian CPA, LLC

Denver, Colorado

May 20, 2026

 

Artesian CPA, LLC

1312 17th Street, #462 | Denver, CO 80202

p: 877.968.3330 f: 720.634.0905

info@ArtesianCPA.com | www.ArtesianCPA.com

 

F-4

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

BALANCE SHEET

AS OF DECEMBER 31, 2025

 

 

See Independent Auditor’s Report and accompanying notes, which are an integral part of these financial statements.

 

F-5

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

STATEMENT OF OPERATIONS

FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

 

See Independent Auditor’s Report and accompanying notes, which are an integral part of these financial statements.

 

F-6

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

STATEMENT OF CHANGES IN STOCKHOLDER’S EQUITY/(DEFICIT)

FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

 

See Independent Auditor’s Report and accompanying notes, which are an integral part of these financial statements.

 

F-7

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc)

STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

 

See Independent Auditor’s Report and accompanying notes, which are an integral part of these financial statements.

 

F-8

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

NOTE 1: NATURE OF OPERATIONS

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.) (the “Company”) is a Delaware corporation organized under the laws of Delaware and is controlled by its parent, RAD Technologies, Inc. (“RAD”). The Company was formed to acquire, consolidate, and operate ophthalmology practices in the United States.

 

The Company’s principal business activities consist of acquiring controlling ownership interests in established ophthalmology practices, implementing technology-enabled patient acquisition strategies utilizing data intelligence tools and marketing infrastructure provided by RAD, and deploying standardized clinical and operational protocols designed to increase revenue from elective and premium cash-pay procedures, including premium intraocular lens (“Premium IOL”) implantation and LASIK surgery.

 

As of December 31, 2025, the Company has not completed any acquisitions and has not commenced principal operations. Accordingly, the Company is considered to be in the development stage.

 

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The financial statements cover the period from July 7, 2025 (inception) to December 31, 2025, which represents the Company’s initial operating period.

 

Use of Estimates

 

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Given the early stage of the Company’s operations, management does not believe that significant estimates or judgments were required in the preparation of these financial statements.

 

Significant Risks and Uncertainties

 

The Company’s business and operations are sensitive to general business and economic conditions in the United States and other countries that the Company operates in a host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse conditions may include recession, downturn or otherwise, or competition. These adverse conditions could affect the Company’s financial condition and the results of its operations. The Company is subject to customary risks and uncertainties associated with development of new technology and operating a business, including, but not limited to, the need for protection of intellectual property dependence on key personnel, costs of services provided by third parties, the need to obtain additional financing, and limited operating history.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. As of December 31, 2025, the Company held $150,000 in cash deposited with a financial institution. The Company had no cash equivalents as of December 31, 2025.

 

Concentration of Credit Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash. The Company maintains its cash balances at one financial institution. Balances may at times exceed federally insured limits. The Company has not experienced any losses in such accounts and does not believe it is exposed to significant credit risk.

 

See Independent Auditor’s Report.

 

F-9

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

Fair Value of Financial Instruments

 

Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable.

 

Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions.

 

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

 

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

 

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

 

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

 

The carrying amounts reported in the balance sheet approximate their fair value.

 

Related Party Transactions

 

The Company follows ASC 850, Related Party Disclosures, for the identification and disclosure of related party transactions and balances. As of December 31, 2025, the Company had amounts due to related parties of $396,370 and loan payable – related party of $150,000, representing advances and loan, respectively, from RAD Technologies, Inc., the Company’s parent, used to fund operating and organizational expenditures since inception. These advances and loan are unsecured, non-interest bearing, and have no fixed repayment terms.

 

Revenue Recognition

 

Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers.

 

Revenues will be recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:

 

1) identify the contract with a customer;

2) identify the performance obligations in the contract;

3) determine the transaction price;

4) allocate the transaction price to performance obligations in the contract; and

5) recognize revenue as the performance obligation is satisfied.

 

For the period ended December 31, 2025, no revenue has been earned or recognized by the Company.

 

Operating Expenses

 

Operating expenses are recognized in the period in which they are incurred. For the period from July 7, 2025 (inception) to December 31, 2025, operating expenses consisted of general and administrative expenses of $145,019 and sales and marketing expenses of $188,351.

 

See Independent Auditor’s Report.

 

F-10

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

Income Taxes

 

The Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes.

 

Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized.

 

The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, the Company’s policy is to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements. The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

 

The Company accounts for income taxes with the recognition of estimated income taxes payable or refundable on income tax returns for the current period and for the estimated future tax effect attributable to temporary differences and carryforwards. Measurement of deferred income items is based on enacted tax laws including applicable tax rates. Deferred tax assets are reduced by a valuation allowance for those tax benefits that are not expected to be realized.

 

As of December 31, 2025, the Company has net operating loss (“NOL”) carryforwards of approximately $333,370, which may be available to offset future taxable income, subject to applicable limitations. These NOLs give rise to deferred tax assets; however, as this represents the Company’s first year of operations and it does not have a sufficient history of generating taxable income, management has concluded that it is more likely than not that these deferred tax assets will not be realized. Accordingly, a full valuation allowance has been recorded against the deferred tax assets. As a result, the net deferred tax assets as of December 31, 2025 are nil, and the Company has not recognized any income tax provision or benefit for the year.

 

Net Loss per Share

 

The Company computes net loss per share in accordance with ASC 260, Earnings Per Share. Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding, adjusted for the dilutive effect of potential common shares. For the period from July 7, 2025 (inception) to December 31, 2025, no shares of common stock were issued or outstanding and no dilutive securities existed; accordingly, basic and diluted net loss per share are both reported as $0.

 

Recent Accounting Pronouncements

 

The Company has reviewed recently issued accounting pronouncements and does not believe that any such pronouncements will have a material effect on the Company’s financial statements, given the early stage and limited nature of its current operations.

 

See Independent Auditor’s Report.

 

F-11

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

NOTE 3: GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

 

The Company was incorporated on July 7, 2025 and has not commenced its principal operations or generated any revenues since inception. For the period from July 7, 2025 (inception) to December 31, 2025, the Company incurred a net loss of $333,370 and, as of December 31, 2025, had a working capital deficit of $333,370. The Company has no committed source of revenue, has not completed any acquisitions, and is dependent upon its parent company, RAD Technologies, Inc., and other outside financing to fund its operations and execute its business plan.

 

These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued.

 

Management’s plans to address these conditions include continuing to rely on financial support from RAD Technologies, Inc., raising additional capital through equity or debt financing, and ultimately generating revenue from the operation of acquired ophthalmology practices. However, there can be no assurance that such financing will be available on acceptable terms, or at all, or that the Company’s acquisition strategy will be successfully executed.

 

The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or the amounts and classification of liabilities that might be necessary if the Company is unable to continue as a going concern

 

NOTE 4: STOCKHOLDER’S EQUITY/(DEFICIT)

 

Common Stock

 

The Company is authorized to issue two classes of common stock:

 

Class A Common Stock — As of December 31, 2025, the Company was authorized to issue 10,000,000 shares of Class A common stock, $0.00001 par value per share. On March 18, 2026, the Company filed a Certificate of Amendment to its Certificate of Incorporation (see Note 8) that increased the Class A authorization to 200,000,000 shares, $0.0001 par value per share. No shares of Class A common stock were issued or outstanding as of December 31, 2025.

 

Class B Common Stock — As of December 31, 2025, the Company was authorized to issue 10,000,000 shares of Class B common stock, $0.00001 par value per share. On March 18, 2026, the Company filed a Certificate of Amendment to its Certificate of Incorporation (see Note 8) that increased the Class B authorization to 300,000,000 shares, $0.0001 par value per share. No shares of Class B common stock were issued or outstanding as of December 31, 2025.

 

Voting Rights. Each share of Class A Common Stock is entitled to one vote per share on all matters submitted to a vote of stockholders. The Class B Common Stock is non-voting, except as otherwise required by applicable law.

 

Conversion. Each share of Class A Common Stock is convertible, at the holder’s election and at any time, into one share of Class B Common Stock on a one-for-one basis. The Class B Common Stock is not convertible into Class A Common Stock.

 

Dividend and Distribution Rights. Except for voting rights, the Class A Common Stock and Class B Common Stock have identical rights and privileges and rank equally on a per-share basis, including with respect to dividends, distributions, and distributions in connection with a change of control transaction. As of December 31, 2025, no dividends or distributions had been declared or paid on any class of common stock.

 

NOTE 5: RELATED PARTY TRANSACTIONS

 

Parent Company Relationship

 

The Company is controlled by its parent, RAD Technologies, Inc. (“RAD”). RAD controlled the Company as of December 31, 2025, and in 2026 become the majority stockholder of the Company, as discussed in Note 8. Dr. Jeffrey Machat serves as the Chief Executive Officer of the Company and holds a senior leadership role within RAD.

 

See Independent Auditor’s Report.

 

F-12

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

Advances from Parent

 

Since inception, the Company has funded its operations through advances from RAD. For the period from July 7, 2025 (inception) to December 31, 2025, RAD paid expenses of $396,370 of behalf of the Company to fund general and administrative expenses, sales and marketing expenses, and other organizational expenditures. This includes $90,000 in cash compensation paid to Jeffrey Machat and $52,000 in cash compensation paid to Deon Kibel. As of December 31, 2025, the full amount of $396,370 remains outstanding and is reflected as “Due to related parties” on the balance sheet. The advances are unsecured, non-interest bearing, and have no fixed repayment terms. There can be no assurance that RAD will continue to fund the Company’s operations or that the terms of such funding will not change.

 

Loan Payable – Related Party

 

The Company obtained a non-interest-bearing loan of $150,000 from RAD. The loan is due on demand and does not carry any stated interest rate. As of December 31, 2025, the full amount of $150,000 remains outstanding.

 

Technology and Services

 

The Company utilizes data intelligence and marketing infrastructure developed and maintained by RAD to support its patient acquisition strategy. The terms and pricing of any such arrangement have not been formalized in a written agreement as of December 31, 2025. For the period from July 7, 2025 (inception) to December 31, 2025, no separate payments were made to RAD for such services outside of the related party advances described above.

 

Management Compensation

 

For the period from July 7, 2025 (inception) to December 31, 2025, RAD paid $90,000 in cash compensation to Jeffrey Machat and $52,000 in cash compensation to Deon Kibel.

 

NOTE 6: INCOME TAXES

 

The Company accounts for income taxes in accordance with ASC 740, Income Taxes, using the asset and liability method. For the period from July 7, 2025 (inception) to December 31, 2025, the Company generated a net operating loss of $333,370. The components of the Company’s deferred tax assets as of December 31, 2025 are as follows:

 

 

 

The deferred tax asset of approximately $93,344 (calculated at the 21% federal statutory rate and 7% effective California rate after federal tax benefit, for a combined effective rate of 28%, applied to the net operating loss of $333,370) has been fully offset by a valuation allowance, as management believes it is more likely than not that the deferred tax asset will not be realized given the Company’s lack of operating history and absence of committed revenue.

 

See Independent Auditor’s Report.

 

F-13

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:

 

 

As of December 31, 2025, the Company had a federal net operating loss carryforward of approximately $333,370, which does not expire under current federal tax law and may be carried forward indefinitely. However, utilization of NOL carryforwards may be subject to annual limitations under Section 382 of the Internal Revenue Code in the event of certain ownership changes. The Company’s income tax returns are subject to examination by federal and applicable state taxing authorities for all periods since inception

 

Tax Payment

 

No tax was due or paid during the period ended December 31, 2025.

 

NOTE 7: COMMITMENTS AND CONTINGENCIES

 

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome, if any, arising out of any such matters will have a material adverse effect on its business, financial condition or results of operations.

 

Legal Proceedings

 

As of December 31, 2025, the Company is not a party to any pending legal proceedings. The Company may from time to time become subject to claims or litigation in the ordinary course of business. No such matters existed as of the balance sheet date.

 

Operating and Capital Leases

 

As of December 31, 2025, the Company has no operating leases, capital leases, or right-of-use assets. The Company does not occupy any dedicated office space and has no lease commitments.

 

Contractual Obligations

 

As of December 31, 2025, the Company has no material contractual purchase commitments, service agreements, or other financial obligations other than the related party advances described in Note 5.

 

NOTE 8: SUBSEQUENT EVENTS

 

Regulation Crowdfunding and Regulation A Offerings

 

The Company intends to initiate Regulation Crowdfunding and Regulation A offerings of its common stock in 2026.

 

Amendment to Certificate of Incorporation

 

On March 18, 2026, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State. The amendment effected the following changes:

 

(i) changed the entity’s name from “VisAi Partners Inc” to “Altivera Vision Inc.”; and

 

See Independent Auditor’s Report.

 

F-14

 

 

Altivera Vision Inc. (f/k/a VisAI Partners Inc.)

NOTES TO THE FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2025 AND FROM JULY 7, 2025 (INCEPTION) TO DECEMBER 31, 2025

 

(ii) increased the total authorized capital stock from 10,000,000 shares of common stock, par value $0.00001 per share, to 500,000,000 shares, consisting of (a) 200,000,000 shares of Class A Common Stock, par value $0.0001 per share, and (b) 300,000,000 shares of Class B Common Stock, par value $0.0001 per share.

 

The Class A Common Stock is entitled to one vote per share. The Class B Common Stock is non-voting, except as otherwise required by law. Except for voting rights, the two classes have identical rights and privileges and rank equally on a per-share basis, including with respect to dividends and distributions in connection with a change of control transaction. Each share of Class A Common Stock is convertible at the holder’s election, at any time, into one share of Class B Common Stock.

 

Formation of Subsidiaries

 

On March 20, 2026, the Company formed three wholly owned subsidiaries as limited liability companies under the laws of Delaware: Altivera Vision Holdings, LLC, Altivera Vision Management, LLC and Altivera Vision ASC Holdings, LLC.

 

Stock Issuances

 

In 2026, the Company issued 200,000,000 shares of Class A Common Stock, including 118,604,651 shares to RAD, representing 59.3% of the then issued and outstanding common stock.

 

Management’s Evaluation

 

The management has evaluated subsequent events from December 31, 2025 through May 20, 2026, which is the date the financial statements were available to be issued. No additional material subsequent events have occurred that require recognition or disclosure in the financial statements.

 

See Independent Auditor’s Report.

 

F-15

 

 

INDEX TO EXHIBITS

 

Exhibit No.   Description
1.1   Placement Agent Agreement with DealMaker Securities
2.1   Amended and Restated Certificate of Incorporation of Altiversa Vision Inc.
2.2   Bylaws of Altivera Vision Inc.
4   Form of Subscription Agreement
6.1   Software License Agreement between the Company and Rad Technologies Inc. dated September 1, 2026
6.2   Managed Services Agreement between the Company and Rad Technologies Inc. dated September 1, 2026
6.3   Delayed Draw Term Loan and Security Agreement between the Company and Rad Technologies Inc. dated September 1, 2026
11   Consent of Auditor
12   Opinion of CrowdCheck Law LLP*

 

*To be filed by amendment

 

42

 

 

SIGNATURES

 

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this Offering Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Los Angeles on September 30, 2026.

 

Altivera Vision Inc.  
   
By /s/ Steven Silver  
Steven Silver, Chief Executive Officer  
Altivera Vision Inc.  
Date: September 30, 2026  

 

The following persons in the capacities and on the dates indicated have signed this Offering Statement.

 

By /s/ Steven Silver  
Steven Silver, Chief Executive Officer, Principal Executive Officer, Director  
Altivera Vision Inc.  
Date: September 30, 2026  
   
By /s/ Deon Kibel  
Deon Kibel, Chief Financial Officer, Principal Financial Officer, Principal Accounting Officer  
Altivera Vision Inc.  
Date: September 30, 2026  
   
By /s/ Jeremy Barnett  
Jeremy Barnett, Director  
Altivera Vision Inc.  
Date: September 30, 2026  
   
By /s/ Bradley Silver  
Bradley Silver, Director  
Altivera Vision Inc.  
Date: September 30, 2026  
   
By /s/ Jeffrey Machat  
Dr. Jeffrey Machat, President, Chief Medical Officer, Director  
Altivera Vision Inc.  
Date: September 30, 2026  

 

43

 

ADD EXHB 3 ex1-1.htm ADD EXHB

 

Exhibit 1.1

 

 

Order Form

Reg A

 

Prepared for: VisAI Partners Inc.   Quote Date: Mar 3, 2026
Contact: Jeffrey Machat   Valid Until: Mar 25, 2026
Email:   Proposed By: Jessica Stronghill

 

Billing Information

 

Effective Date: Mar 4, 2026 2:40:40 PM UTC-0600
Payment Terms: 100% Due on Signing. While Reg CF monthly fees are being incurred, no other monthly fees pertaining to other DealMaker offerings shall be invoiced and/or charged.
Billing Contact: Rad Technologies Inc.
Billing Phone:  
Contract Billing Email:
Accounting Billing Email:
Billing Address: 1501 Lincoln Blvd., Unit #1133, Venice California U.S.A 90291

 

Set Up Fees

 

Set Up Fees  Net Price 
DealMaker Securities – Reg A Onboarding Setup  $17,750 
DealMaker.tech Plus Setup  $5,000 
Discount   39.33%
Total Net Setup  $22,750 

 

Monthly Fees

 

Monthly Fees  Net Price 
DealMaker.tech - Plus Platform Monthly Fee  $2,000 
Total Net Monthly  $2,000 

 

1/33

 

 

This Order Form sets forth the terms of service by which a number of separate DealMaker affiliates are engaged to provide services to Customer (collectively, the “Services”). By its signature below in each applicable section, Customer hereby agrees to the terms of service of each company referenced in such section. Unless otherwise specified above, the Services shall commence on the date hereof.

 

By proceeding with its order, Customer agrees to be bound contractually with each respective company. The Applicable Terms of Service include and contain, among other things, warranty disclaimers, liability limitations and use limitations.

 

In particular, Customer understands and agrees that it is carrying out a self-hosted capital raise and bears primary responsibility for the success of its own raise. No DealMaker entity is ever responsible for the success of Customer’s offering and no guarantees or representations are ever in place with respect to (i) capital raised (ii) investor solicitation or (iii) completion of investor transactions with Customer. Customer agrees and acknowledges that online capital raising is uncertain, and that nothing in this agreement prevents Customer from pursuing concurrent or sequential alternative forms of capital raising. Customer should use its discretion in choosing to engage the vendors described in this Agreement and agrees that such entities bear no responsibility to Customer with respect to raising capital.

 

There shall be no force or effect to any different terms other than as described or referenced herein (including all terms included or incorporated by reference) except as entered into by one of the companies referenced herein and Customer in writing.

 

A summary of Services purchased is described in the Schedule “Summary of Compensation” attached. The applicable Terms of Service are described on the Schedules thereafter, and are incorporated herein.

 

 

Services NEVER include providing any investment advice nor any investment recommendations to any investor.

 

 

2/33

 

 

VisAI Partners Inc.  
   
Name Jeffrey Machat  
Title Co-CEO  
Signature  
Date Mar 4, 2026 2:40:40 PM UTC-0600  

 

3/33

 

 

Schedule “Summary of Compensation”

 

Regulation A Offering

 

  ● $22,750 Advances(advances against accountable expenses anticipated to be incurred, and refunded to extent not actually incurred)

 

These advances include:

 

i. $17,750 prepaid to DealMaker Securities LLC (“Broker”) for Pre-Offering Analysis

 

ii. $5,000 prepaid to Novation Solutions Inc. (“DealMaker”) for infrastructure for self-directed electronic roadshow

 

  ● $2,000 monthly account management compensation.

 

  ○ Monthly account management and software access commences in the month of the Commencement date. If no Commencement date is stated on the Order Form, services and invoices for those services commence in the first month following the Effective Date.
     
  ○ It is expected services will commence in advance of the offering being qualified, and therefore compensation in the form of advances against accountable expenses anticipated to be incurred, and fully refunded to extent not actually incurred will be collected associated with services. A maximum of $6,000 or three months of account management compensation is payable prior to qualification of the offering containing the Services.
     
  ○ After the commencement of the offering, monthly compensation includes:
     
  ■ $2,000 account maintenance fees payable to DealMaker (up to a maximum of $18,000 during the Offering)

 

  ● 4.5% Commission on Cash Compensation From All Proceeds:

 

  ○ Cash compensation does not include processing investor refunds for Customers, which are chargeable at $50.00 per refund.
     
  ○ Customer shall be responsible for third-party fees with respect to payment processing.* These are to be disclosed as separate selling related expenses in the Form 1-A and Offering Statement for the offering and not connected to Broker or its affiliates.
     
  ○ Customer may elect to offset all or a portion of these fees by levying an administrative fee to investors. The Cash Compensation would also be applied to the collection of the administrative fee from the investors.

 

  ● $11,750 in Corporate Filing Fees (payable to FINRA)

 

*Fees are estimated to be approximately 2% of offering proceeds.

 

Fair Compensation

 

To ensure adherence to FINRA’s fair compensation guidelines, Broker is required to set the maximum underwriting compensation to be received in the Offering. Components of compensation for Services are tied to the total aggregate offering price (maximum value of the offering including administrative fees, bonus shares,

 

value of underlying securities. Changes to the value will change the Maximum Compensation described here. Broker will ensure that, in any scenario, the aggregate compensation payable to Broker and its affiliates in respect of Services related to the Offering shall never exceed a maximum amount.

 

If the Offering is fully subscribed, the maximum amount of underwriting compensation will be $3,421,750, for an aggregate offering price of $75,000,000.

 

*In the event that the Financial Industry Regulatory Authority (“FINRA”) Department of Corporate Finance does not issue a no objection letter for the Offering, all underwriting compensation paid is fully refundable other than for services actually rendered.

 

4/33

 

 

Schedule “Broker Dealer Services” (DealMaker Securities LLC)

 

Pre-Offering Analysis

 

  ● Reviewing Customer, its affiliates, executives and other parties as described in Rule 262 of Regulation A, and consulting with Customer regarding the same.

 

Pre-Offering Consulting for Self-Directed Electronic Roadshow

 

  ● Reviewing with Customer on best business practices regarding raise in light of current market conditions and prior self-directed capital raises
  ● Reviewing with Customer on customization for investor questionnaire, selection of webhosting services, and template for campaign page
  ● Advising Customer on compliance of marketing material and other communications with the public with applicable legal standards and requirements
  ● Providing advice to Customer on content of Form 1A and Revisions
  ● Provide extensive, review, training, and advice to Customer and Customer personnel on how to configure and use electronic platform powered by DealMaker.tech
  ● Assisting in the preparation of SEC and FINRA filings
  ● Working with the Client’s SEC counsel in providing information to the extent necessary

 

Advisory, Compliance and Consulting Services During the Offering

 

  ● Reviewing investor information, including identity verification, performing AML (Anti-Money Laundering) and other compliance background checks, and providing Customer with information on an investor in order for Customer to determine whether to accept such investor into the Offering;
  ● If necessary, discussions with the Customer regarding additional information or clarification on an Customer-invited investor;
  ● Coordinating with third party agents and vendors in connection with performance of services;
  ● Reviewing each investor’s subscription agreement to confirm such investor’s participation in the offering and provide a recommendation to the company whether or not to accept the subscription agreement for the investor’s participation;
  ● Contracting and/or notifying the company, if needed, to gather additional information or clarification on an investor;
  ● Providing ongoing advice to Customer on compliance of marketing material and other communications with the public, including with respect to applicable legal standards and requirements;
  ● Reviewing with Customer regarding any material changes to the Form 1A which may require an amended filing; and
  ● Reviewing third party provider work-product with respect to compliance with applicable rules and regulations.

 

Customer hereby engages and retains DealMaker Securities LLC, a registered Broker-Dealer, to provide the applicable services described above. Customer hereby agrees to the terms set forth in the DealMaker Securities Terms, with compensation described on Schedule “Summary of Compensation” hereto.

 

5/33

 

 

Customer Signature  

 

Schedule

 

“DealMaker.tech Subscription Platform and Shareholder Services Online Portal”

 

During the Offering, Subscription Processing and Payments Functionality

 

  ● Creation and maintenance of deal portal powered by DealMaker.tech software with fully-automated tracking, signing, and reconciliation of investment transactions
  ● Full analytics suite to track all aspects of the offering and manage the conversion of prospective investors into actual investors.

 

Apart from the Offering, Shareholder Management via DealMaker Shareholder Services

 

  ● Access to DM Shareholder Management Technology to provide corporate updates, announce additional financings, and track engagement
  ● Document-sharing functionality to disseminate share certificates, tax documentation, and other files to investors
  ● Monthly compensation is payable to DealMaker.tech while the client has engaged DealMaker Shareholder Services

 

Subscription Management and DM Shareholder Management Technology is provided by Novation Solutions Inc. O/A DealMaker. Customer hereby agrees to the terms set forth in the DealMaker Terms of Service with compensation described on Schedule “Summary of Compensation” hereto.

 

Customer Signature  

 

6/33

 

 

 

DEALMAKER TERMS OF SERVICE

 

These Terms of Services (“Terms”) govern access to the software and services provided by any of the DealMaker entities such as Novation Solutions Inc., O/A DealMaker (“DealMaker.tech”), DealMaker Reach, LLC (“DM Reach”), DealMaker Securities LLC (“DMS”) and DealMaker Transfer Agent LLC, O/A DealMaker Shareholder Services (“DMTA”) (individually, each a “DealMaker Entity” and collectively, the “DealMaker Entities”). Each of the entities may be referred to as “DealMaker” or the “Company” in these Terms.

 

These Terms have legal implications. It is important that you read these terms carefully and consult legal counsel if you determine that is appropriate, in order to understand these Terms.

 

The Terms, together with the DealMaker order form from which this page was linked (“Order Form”), form an agreement between the Customer (as defined in the order form) and the applicable DealMaker entit(ies) being engaged for technology or services (each an “Agreement”). Each of these Agreements may be referred to as “an Agreement” or “the Agreement” in these Terms.

 

Each Agreement contains, among other things, warranty disclaimers, liability limitations and use limitations. Each Agreement also contains an arbitration provision which is enforceable against the parties and may impact your rights and obligations. By signing the Order Form and using the DealMaker Entity services described in such Order Form, Customer accepts and agrees to be bound by these Terms.

 

These Terms apply to all DealMaker Entities unless a DealMaker Entity is explicitly excluded or alternative terms are supplemented, as indicated below.

 

1. Definitions

 

“Account” means Investment funds deposited in Customer’s account with a financial institution by (i) Customer’s investors directly, funded via wire or check or (ii) a third party payment processor, prior to the Closing of any transaction involving such investments.

 

“Closing” means the resolution of all applicable AML-related exceptions or discrepancies identified through any searches provided by third parties through Company or otherwise identified by or to Company for all transactions associated with an investment and the acceptance by the Customer of the investment associated with such transactions.

 

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“Closing Date” means the date of each Closing.

 

“Commencement Date” occurs in the month the Customer begins paying monthly subscription fees. If no Commencement Date is stated on the Order Form, monthly subscription fees are payable in the month following the Effective Date.

 

“Customer Payment Processing Account” means a Customer’s account with a third party payment processor into which Customer deposits investment funds.

 

“DM Shareholder Management Technology” means DealMaker’s investor communication functionality technology and/or services provided by DealMaker.tech.

 

“Effective Date” is the date the Agreement is signed.

 

“Escrow Account” means Customer’s third party escrow account into which Customer directs investment funds from Investors.

 

“Improvements” means any improvements, updates, variations, modifications, alterations, additions, error corrections, enhancements, functional changes or other changes to the Software, including, without limitation: (i) improvements or upgrades to improve software efficiency and maintainability; (ii) improvements or upgrades to improve operational integrity and efficiency; (iii) changes or modifications to correct errors; and (iv) additional licensed computer programs to otherwise update the Software.

 

“Intended Purpose” means Customer’s use of the Software to raise capital online via technology or services provided by DealMaker.tech.

 

“Offerings” refers to online capital formation transactions completed by Company’s Customers or Customer’s clients, using the Software.

 

“Software” means the DealMaker™ cloud-based software program developed by Company, including its features, functionality, performance, application and use, any related printed, electronic and online documentation, manuals, training aids, user guides, system administration documentation and any other files that may accompany the Software used by the Customer.

 

“TOS” means the DealMaker.tech website terms of service located at https://www.dealmaker.tech/terms.

 

2. Term and Termination

 

2.1. Term

 

Unless otherwise stated in the Order Form, the Agreement will remain in effect from the Effective Date until the first day of the month following the completion of an Offering (“Term”). The Term for DMTA is set forth in the DMTA terms.

 

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2.2. Billing Terms

 

2.2.1. One-Time Advances/Setup Billing: Unless otherwise specified in the Order Form, one-time advances/setup charges are only invoiced once, prior to the commencement of Services. With the payment of these invoices, Services would begin.

 

2.2.2. Monthly Invoices: Unless otherwise specified in the Order Form, charges for monthly account management will be invoices monthly, in arrears, and reflect accountable expense totals for Services in advance of an offering’s qualification or account management fees associated with ongoing services after the offering’s qualification. These would continue to be invoiced monthly for the term of the Agreement.

 

2.2.3. DM Shareholder Management Technology Fees: DM Shareholder Management Technology is a service offered by DealMaker.tech. Unless otherwise specified in the DealMaker.tech or DMTA fee schedules to your Order Form, fees for use of the DM Shareholder Management Technology, when applicable, are invoiced monthly and the services can be canceled within any month upon written notice, effective the month following cancellation of DealMaker.tech services, except for DMTA Customers. Cancellation of fees for use of DM Shareholder Management Technology for DMTA customers is governed by the DMTA terms.

 

2.2.4. DealMaker Transactional Fees are incurred at the time of each transaction and charged on a monthly basis in arrears or collected at time of service, as specified in the Order Form.

 

2.2.5. Payment. DealMaker shall be compensated as set out in the Order Form. Unless otherwise specified in the schedules to the Order Form, required by a third party vendor or required by an applicable law or regulation, Customer will be invoiced on a monthly basis. Payment will be automatically debited from the Customer’s, third party payment processor treasury account, bank account or credit card on file, with a receipt to be automatically delivered. Invoices will be available for the Customer to review upon request. In the event that any Customer payment fails, in respect of any invoice due and payable to a DealMaker Entity (“Aged Invoice”), Customer must re-connect its, third party payment processor treasury account, bank account or update credit card within fourteen (14) days and submit payment for any Aged Invoice. Unless Aged Invoices are cleared and accounts are brought back into good standing within 14 days, automated payouts and reconciliation reporting will be disabled. In the event the Aged Invoices are not cleared, or accounts are not brought back into good standing within 30 days, all services will be paused until payment is received and the Customer’s, third party payment processor treasury account, bank account or credit card authorization is restored. DealMaker reserves the right to debit from Customer’s credit card authorization on file or authorized payment account in respect of any Aged Invoice thirty days or older, unless the Customer disputes the charges in writing.

 

2.3. Termination

 

2.3.1. Termination for Cause. Customer or any DealMaker Entity may terminate this Agreement immediately for Cause, as to any or all Subscription services. “Cause” includes a determination that a party is acting, or have acted, in a way that has negatively reflected on or impacted or may negatively reflect on or impact the other party, its prospects, or its customers, including without limitation in a way that violates or causes a violation of applicable law or regulation. Upon termination for cause, there are no additional fees incurred. All prepaid unused fees would be returned.

 

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2.3.2. Otherwise, an Agreement may only be terminated as follows:

 

a. Material Breach: A party may terminate this Agreement upon sixty (60) days written notice if the breaching party fails to perform or observe any material term, covenant, or condition to be performed or observed by it under this Agreement and such failure continues to be unremedied after sixty (60) days’ written notice of such failure from Company to Customer.

 

If the breach has not been cured within the sixty-day period, the non-breaching party may terminate this Agreement forthwith and may immediately exercise any one or more of the remedies available to it under the Terms of this Agreement, in addition to any remedy available at law. Any compensation paid to the Company prior to the qualification of an offering, if those expenses have not been incurred, would be returned by Company to the Customer;

 

b. Customer Default. If Customer defaults in performing its obligations under an Agreement, Company may terminate this Agreement (i) upon written notice if any material representation or warranty made by Customer proves to be incorrect at any time in any material respect or (ii) upon written notice, in order to comply with a legal requirement, if such compliance cannot be timely achieved using commercially reasonable efforts, after Company has provided Customer with as much notice as practicable; and/or

 

c. Right of Termination – Insolvency/Bankruptcy: A party may terminate an Agreement immediately, if the other party becomes the subject of a petition in bankruptcy or any other proceeding relating to insolvency, cessation of business, liquidation or assignment for the benefit of creditors, reorganization or other relief, or is adjudged bankrupt or insolvent or has entered against it a final and unappealable order for relief, under any bankruptcy, insolvency, or other similar law. In the event of Company insolvency, all of the Customer’s assets are immediately released.

 

(collectively, “Termination Reasons”)

 

Other than the Termination Reasons, unless explicitly stated otherwise, an Agreement may not otherwise be terminated prior to the end of the Term.

 

2.3.3. The termination of an Agreement as described herein shall not exclude the availability of any other remedies. Any delay or failure by either party to exercise, in whole or in part, any right, power, remedy or privilege shall not be construed as a waiver or limitation to exercise, in whole or in part, such right, power, remedy or privilege.

 

2.3.4. All terms of an Agreement, which should reasonably survive termination, shall survive, including, without limitation, confidentiality, limitations of liability and indemnities, arbitration and the obligation to pay compensation relating to services provided by the DealMaker Entity prior to termination.

 

3. Intellectual Property

 

3.1. Title. Company retains title to and sole ownership of the Software and all Improvements.

 

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3.2. Cloud-Based Software. The Software is cloud based. As such, the source and object code are located on servers outside of the Customer’s premises. Customer shall have no access to the facilities at which the Software is hosted.

 

3.3. Intellectual Property. All Intellectual Property, Intellectual Property Rights and distribution rights associated with or arising from Company’s Confidential Information including but not limited to the Software, remain exclusively with Company. “Intellectual Property” includes, without limitation, with respect to all DealMaker Products: all technical data, designs, specifications, software, data, drawings, plans, reports, patterns, models, prototypes, demonstration units, practices, inventions, methods and related technology, processes or other information, and all rights therein, including, without limitation, patents, copyrights, industrial designs, trade-marks and any registrations or applications for the same and all other rights of intellectual property therein, including any rights that arise from the above items being treated by the parties as trade secrets (the rights being “Intellectual Property Rights.”)

 

3.4. Restrictions.

 

3.4.1. Customer may not: (i) modify, enhance, reverse-engineer, decompile, disassemble or create derivative forms of the Software; (ii) copy the Software; (iii) sell, sub-license, lease, transmit, distribute or otherwise transfer rights in/to the Software; (iv) allow third-party use of the Software installed at the Site; or (v) pledge, hypothecate, alienate or otherwise encumber the Software to any third party.

 

3.4.2. Use of the Software is restricted to the Intended Purpose only. Customer agrees not to engage in any activity restricted by the TOS or transfer any information restricted by the TOS.

 

3.4.3. Customer acknowledges that unauthorized reproduction or distribution of the Software is expressly prohibited by law and may result in civil and criminal penalties. Violators may be prosecuted. Customer may not reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of the Software, DealMaker website or any part thereof, except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation.

 

3.5. Customer represents and warrants that any Customer assets or materials provided and the intended use thereof in accordance with the terms of each Agreement, will not infringe, violate, or misappropriate any third party rights, including without limitation, any copyrights, trademarks, trade secrets, privacy, publicity, or other proprietary or intellectual property rights.

 

3.6. Customer represents and warrants that Customer will not bid on or use any DealMaker Entity trademarks, brand names, or any variations thereof in Customer’s paid search advertising campaigns. This includes, but is not limited to, Google AdWords, Bing Ads, and other search engine marketing platforms. Unless otherwise provided for in the Agreement, Customer shall not:

 

3.6.1. bid on or use our trademarks as keywords in Customer’s paid search campaigns;

 

3.6.2. include DealMaker Entity trademarks in Customer’s ad copy, display URL, or landing page URL; or

 

3.6.3. use any misspellings, variations, or confusingly similar terms to DealMaker Entity trademarks in Customer’s paid search activities; DealMaker reserves the right to monitor and enforce compliance with these trademark bidding restrictions.

 

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4. Confidential Information

 

4.1. “Confidential Information” means any and all confidential or proprietary information of DealMaker or Customer, including affiliates thereof, which has been or may be disclosed by one party to this Agreement ( “Disclosing Party”) to the other party (“Receiving Party”), at any time prior to and during the Agreement Term, including, without limitation, the names of employees and owners, the names or other personally identifiable information of customers, business and marketing information, technology, know-how, ideas, reports, techniques, methods, processes, uses, composites, skills, and configurations, intellectual property of any kind and all documentation provided by investors in the Offering. Without limiting the generality of the foregoing, DealMaker’s Confidential Information includes: (i) the Software; (ii) the computer code underlying the Software, including source and compiled code and all associated documentation and files; (iii) information relating to the performance or quality of the Software and services provided by the DealMaker Entity; (iv) the details of any technical assistance provided to Customer during the Term; (v) any other products or service made available to Customer by DealMaker during the Agreement Term; and (vi) information regarding DealMaker’s business operations including its research and development activities. All work product, pricing, Agreement terms and process information of either party exchanged with the other party to perform the terms of the Agreement is agreed to be Confidential Information, except that any logos or marketing references are not Confidential Information.

 

4.2. “Confidential Information” does not include information that: (i) is or has become generally known to the public without any action by the non-disclosing party; (ii) was known by either party prior to entering into the Agreement; (iii) was independently determined by either party; or (iv) was disclosed to the relevant party without restriction by a third party who, to the best of such party’s knowledge and belief, had no obligation not to disclose such information.

 

4.3. Neither party may disclose Confidential Information without the express written consent of the other party, except as specifically contemplated in this Agreement.

 

4.4. Trade Secrets. Notwithstanding anything to the contrary herein, with respect to Confidential Information that constitutes a trade secret under the laws of any jurisdiction, such rights and obligations shall survive such expiration or termination until, if ever, such Confidential Information loses its trade secret protection other than due to an act or omission of the receiving Party or its Representatives.

 

4.5. By executing this Agreement, the Customer is providing written consent for DealMaker to disclose Confidential Information but only to the extent required to carry out the terms of this Agreement. Customer’s investors will be required to sign-in to the DealMaker.tech portal and agree to the DealMaker.tech TOS. The parties agree that this process shall not constitute a disclosure of “Confidential Information” as described in this section.

 

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4.6. Notwithstanding anything in this section, Customer and DealMaker hereby agree that each party may use the other party’s logo for promotional purposes (“Logo Use”). The parties acknowledge that Logo Use does not include the use of any descriptive copy, all of which must be approved by Customer and DealMaker in writing. Except as provided for in this paragraph, nothing contained in this Agreement will be construed as granting Customer or DealMaker any right, title or interest in or to any or to use any of the other party’s Confidential Information. Customer or DealMaker may terminate Logo Use at any time, with or without cause, upon written notice to the other party. For any Customer conducting an offering using the DealMaker Software (i.e. Regulation A, Regulation CF, or public offerings), in which the offering is already in the public domain, Customer agrees that DealMaker may disclose Customer name and offering proceeds to third party data aggregators for the purpose of generating industry reports. Industry reports shall not include publication of Customer name or the amount raised.

 

4.7. Authorized Disclosure. Each party may, without the consent of the other party, disclose Confidential Information to the extent reasonably necessary to comply with applicable regulatory demands or orders in connection with the purpose for which the Customer enters into this Agreement. Each party may disclose the existence of this Agreement and any relationship between the parties.

 

5. Exclusion of Warranties

 

5.1. Except as expressly stated in this Agreement, DealMaker makes no representations or warranties or covenants to Customer, either express or implied, with respect to the Software, services provided by the DealMaker Entity or with respect to any Confidential Information disclosed to Customer. DealMaker specifically disclaims any implied warranty or condition of non-infringement, merchantable quality or fitness for a particular purpose. Customer acknowledges that the Software is in continuous development and that it has been advised by DealMaker to undertake its own due diligence with respect to all matters arising from this Agreement. All services are provided on an “as is” and “as available” basis without any warranties, express or implied, including, without limitation, implied warranties of merchantability or fitness for a particular purpose, and DealMaker expressly disclaims all warranties. Customer agrees and understands that no DealMaker entity has any fiduciary duty to Customer.

 

5.2. No Improvements. Company is under no obligation to provide Improvements to the Software during the Term.

 

5.3. Any Improvements Gratuitous. Any Improvements provided by DealMaker to Customer from time to time during the Term shall be, unless otherwise stated, construed as being provided on a purely gratuitous basis and shall not give rise to any right or entitlement on the part of Customer, except as otherwise specifically provided in this Agreement. Any Improvements so provided shall be governed by the same terms and conditions applicable to the Software, as described herein, unless otherwise outlined in a fee schedule or addendum to this Agreement.

 

5.4. No Future Entitlement. Nothing in this Agreement shall be construed as creating any obligation on DealMaker to continue to develop, commercialize, offer, make available or support (i) the Software; or (ii) any feature, functionality or Improvement as may be encompassed in the Software from time to time during the Term, beyond the duration of the Term.

 

5.5. Company Templates and Samples are Provided with No Warranties. Customer may request access to DealMaker’s templates and resources to help organize and set up an offering or any communications related thereto. These resources may include template communications, educational packages, resources for the management of administrative and collaborative tasks, and best practices observed from other offerings and industries. Customer acknowledges and agrees that, by providing access to any documents, training, or resources, DealMaker is not rendering and shall not be deemed to have rendered any legal, tax, investment, or financial planning advice. Customer shall, as it deems necessary or advisable, consult its own legal, tax, investment, or financial planning advisers. All templates and samples are provided with no warranties whatsoever and by making use of such materials, Customer is agreeing to voluntarily assume any liability with respect thereto.

 

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6. Limitation and Exclusion of Liability

 

Unless otherwise specified herein, in no event is DealMaker’s liability for any damages on any basis, in contract, tort or otherwise, of any kind and nature whatsoever, arising in respect of this Agreement, howsoever caused, including damages of any kind and nature caused by DealMaker’s negligence or by a breach of contract or any other breach of duty whatsoever, to exceed the fees actually paid to DealMaker by Customer during the Term. Customer acknowledges that DealMaker has set its fees under this Agreement in reliance on the limitations and exclusions of liability set forth in this Agreement and such reliance forms an essential basis of this Agreement.

 

7. Indemnification

 

Applicability of Indemnification Clause: Customers of DMTA are bound by the separate indemnification clauses applying only to DMTA.

 

7.1. Indemnification by Customer. Customer shall indemnify and hold each DealMaker Entity, its affiliates and their respective members, officers, directors and agents (“Indemnified Parties”) harmless from any and all actual or direct losses, liabilities, claims, demands, judgements, arbitrations awards, settlements, damages, direct fees, costs and expenses ( including attorney fees and costs) (collectively “Losses”), resulting from or arising out of any third party suits, actions, claims, demands, investigations or similar proceedings (collectively “Claim”) to the extent they are based upon (i) a breach of this Agreement by Customer, (ii) the wrongful acts or omissions of Customer, (iii) Customer, or Customer’s clients’ engagement with DealMaker and any actions taken in conjunction therewith, including but not limited to usage of the Software, whether or not such activities are in accordance with Intended Usage or (iv) the Offering. “Losses” includes, losses arising from payment processing which are losses arising from chargebacks, clawbacks, payment reversals, fraudulent charges, insufficient credit, unauthorized charges, claims of Customer or third parties regarding payment disputes, and any other problems relating to card or ACH payments made for the benefit of Customer (“Payment Processing Losses”).

 

7.2. Indemnification by Company. The applicable DealMaker Entity shall indemnify and hold Customer, Customer’s affiliates and Customer’s representatives and agents harmless from any Losses resulting from or arising out of Claims to the extent they are based upon (i) such DealMaker Entity’s breach of this Agreement (ii) the negligence, fraud, bad faith or willful misconduct of the DealMaker Entity or (iii) DealMaker Entity’s failure to comply with any applicable laws in the performance of its obligations under this Agreement.

 

7.3. Indemnification Procedure. If any proceeding is commenced against a party entitled to indemnification under this section, prompt notice of the proceeding shall be given to the party obligated to provide such indemnification. The indemnifying party shall be entitled to take control of the defense, investigation or settlement of the Proceedings and the indemnified party agrees to reasonably cooperate, at the indemnifying party’s cost in ensuing investigations, defense or settlement. The indemnifying party shall reimburse the indemnified party for all expenses (including reasonable fees, disbursements and other charges of counsel) as they are incurred in connection with investigating, preparing, pursuing, defending, or settling a Claim (including without limitation any shareholder or derivative action); provided, however, that indemnifying party will not be liable to indemnify and hold harmless or reimburse an indemnified party pursuant to this paragraph to the extent that an arbitrator (or panel of arbitrators) or court of competent jurisdiction will have determined by a final non-appealable judgment that such Claim resulted from the gross negligence or willful misconduct of such indemnified party. The Indemnifying Party will not settle, compromise or consent to the entry of a judgment in any pending or threatened Claim unless such settlement, compromise or consent includes a release of the indemnified parties satisfactory to the indemnified parties.

 

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7.4. Indemnified Party Limitation Of Liability. In no event shall the Indemnified Parties be liable or obligated in any manner for any consequential, exemplary or punitive damages or lost profits incurred by Customer arising from or relating to the Agreement, an Offering, or any actions or inactions taken by an Indemnified Parties in connection with the Agreement, and the Customer agrees not to seek or claim any such damages under any circumstances.

 

7.5. Recovery of Payment Processing Losses. Notwithstanding anything to the contrary in this Agreement, upon Company giving Customer prior written notice of no less than five business days, DealMaker.tech shall have the right, in its sole discretion, to request Customer reimburse Company for Payment Processing Losses from Customer Account or from Customer’s Payment Processing Account, unless prohibited by law. Customer acknowledges and agrees that recovery of Losses from Customer’s Payment Processing Account will not serve as any limitation on the indemnification obligations of Customer under this Agreement or any remedy or claim that Company may be entitled to pursue against Customer in respect of such Losses.

 

8. Third Party Services

 

Customer may request introductions to DealMaker’s network of partners and vendors for the purpose of sourcing additional services (including but not limited to, a call center, marketing support, investment relations). Unless otherwise specified in writing, all engagements with third parties in this respect are to be made directly between the Customer and the vendor at the Customer’s discretion. Customer acknowledges and agrees that, by making such introductions, DealMaker is not recommending and shall not be deemed to have recommended any partner or vendor’s products or services or to have assumed any responsibility for Customer’s selection of any partner or vendor or procurement of such products or services.

 

Without limiting any other protection of DealMaker under this Agreement and notwithstanding anything to the contrary, DealMaker shall bear no responsibility or liability whatsoever in connection with any third party services provided by a vendor engaged by Customer, the decision to engage such vendors rests solely with the management of the Customer on the terms contracted between the Customer and such parties.

 

9. Escrow

 

Customer acknowledges that if Customer opens a third-party escrow account (either by Customer’s choice or as necessary to comply with applicable laws or regulations) in connection with the Company services, Customer will apply for escrow account with a DealMaker-approved escrow provider.

 

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10. Customer Obligations

 

10.1. General

 

10.1.1. Customer shall be responsible for providing Offering terms to its subscribers. Such disclosure shall include, but is not limited to the following material information: a method of Customer valuation, a description of the security available in the Offering, the risks related to the investment, whether there are existing investors and any additional capital expectations.

 

10.1.2. Customer is solely responsible for ensuring that the funds raised in the Offering are used, allocated or invested in accordance with the use of funds described in the Offering disclosure.

 

10.1.3. Customer acknowledges that following the final closing for the Offering, Customer will have sufficient liquidity (from the proceeds raised in the Offering or alternate Customer funds) to sustain Customer operations for that period of time which is clearly identified in the Offering disclosure or alternatively, until the next Customer funding round.

 

10.1.4. Nothing in this Agreement shall be construed to relieve the managers or officers of Customer from the performance of their respective duties or limit the exercise of their powers in accordance with the Customer’s bylaws, operating and constituent documents, written supervisory procedures, applicable law or otherwise. The Customer bears ultimately responsibility for all decisions with regard to any matter upon which Company has rendered its services. The Company shall not and shall have no authority to control Customer or Customer’s day-to-day operations, whether through the performance of the Company’s duties hereunder or otherwise. The Customer’s directors, managers, officers and employees shall retain all responsibility for Customer, and its operations as and to the extent required by Customer’s bylaws, operating and constituent documents, and applicable law. In furtherance and not in limitation of the above, and notwithstanding any other provision of this Agreement or of any other agreement, understanding or document that purports to have any contrary effect or meaning, the DealMaker shall not control, or have the right to control, directly or indirectly, the wages, hours, or terms and conditions of employment of the Customer.

 

10.1.5. Customer represents and warrants that it has all necessary rights, consents and authorizations to provide data to DealMaker in connection with the Offering and that such Customer Data sharing complies with all applicable laws, including but not limited to applicable privacy and data protection laws.

 

10.2. Privacy.

 

10.2.1. Notwithstanding any other provision of this Agreement, Customer shall not take or direct any action that would contravene, or cause the other party to contravene, applicable legislation that addresses the protection of individuals’ personal information (collectively, “Privacy Laws”). Customer shall, prior to transferring or causing to be transferred personal information to Company, obtain and retain required consents of the relevant individuals to the collection, use and disclosure of their personal information, or shall have determined that such consents either have previously been given upon which the parties can rely or are not required under the Privacy Laws, including any consents required from third parties pursuant to applicable Privacy Laws.

 

10.2.2. Customer acknowledges that, when used for an Offering, the Customer’s personalized Software dashboard (“Software Dashboard”) will contain personal identifying information (“PII”) of Customer’s investors. Customer is solely responsible for ensuring compliance with all applicable Privacy Laws when Customer (a) downloads and stores any PII obtained from the Software Dashboard and (b) provides Customer’s representatives with access to the Software Dashboard.

 

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10.2.3. Customer is solely responsible for notifying Company when any Customer representative is no longer working for the Customer and/or authorized to access the Software Dashboard for the Offering.

 

10.2.4 Customer shall cause all third parties with access to PII obtained from the Software Dashboard to execute agreements acknowledging the third parties’ obligation to comply with applicable Privacy Laws.

 

10.2.5. Customer has implemented and continually monitors and enforces an agreement or policy with its Customer representatives, employees and agents that addresses (i) confidentiality and security provisions for all data, including data obtained through the Software Dashboard and (ii) permitted and impermissible use of this data.

 

10.3. Bad Actor Checks

 

Customer agrees to provide DealMaker Entity with documentation verifying completion of bad actor checks in compliance with all applicable regulations (“Bad Actor Checks”). Customer shall provide DealMaker Entity with a copy of Customer’s Bad Actor Checks within thirty (30) days of the Effective Date of this Agreement, failing which, DealMaker Entity shall notify Customer in writing that it shall take steps to complete Customer’s Bad Actor Checks at Customer’s sole expense.

 

11. General Terms

 

11.1. Publications. Each party acknowledges that its name, logo(s) and a description of the general nature of this Agreement may be used in any press release, public announcement or public communication during and following the Term. Without limiting the generality of the foregoing, Company may publish such information on its websites and in its promotional materials.

 

11.2. Expenses. Customer shall reimburse DealMaker for all reasonable and documented out-of-pocket expenses incurred in connection with the Agreement, subject to the Customer’s prior written approval.

 

11.3. General Cooperation. The parties shall with reasonable diligence do all such things and provide all such reasonable assurances and execute all such documents, agreements and other instruments as may reasonably be necessary for the purpose of carrying out the provisions and intent of any Agreement. The parties further acknowledge that the implementation of each Agreement will require the co-operation and assistance of each of them.

 

11.4. No Books And Records Obligations. Any and all obligations of Customer related to the storage of books and records remains the sole obligation of Customer. Company expressly disclaims any and all responsibility with respect to any regulatory or industry requirements with respect to the Customer’s obligations related to record keeping and maintenance.

 

11.5. Survival. These terms shall continue in effect until the expiration or termination of the Agreement, whichever is earlier. The provisions of these Terms of Service which should by their nature survive expiration or termination of this Agreement shall so survive.

 

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11.6. Currency. All currencies referred to herein are in US dollars.

 

11.7. Amendment and Waiver. Amendments to any Agreement, including any schedule or attachment hereto, shall be enforceable only if in writing and signed by authorized representatives of each of the applicable parties. A party does not waive any right under this Agreement by failing to insist on compliance with any of the terms of this Agreement or by failing to exercise any right hereunder. No waiver of any breach of any terms or provisions of this Agreement is effective or binding unless made in writing and signed by the authorized representative of each of the parties.

 

11.8. Assignment: No party may assign an Agreement or any of its rights or obligations hereunder without the prior written consent of the other party, such consent not to be unreasonably withheld.

 

11.9. Inurement. Each Agreement inures to the benefit of and is binding on each of the parties and their respective successors and permitted assignees, heirs and legal representatives.

 

11.10. Force Majeure. Excluding any obligations of a party to pay monies due hereunder, neither party will be responsible for any delay or failure in its performance or obligations under this Agreement due to causes beyond its reasonable control, including, without limitation, labor disputes, strikes, civil disturbances, government actions, fire, floods, acts of God, war, terrorism, or other similar occurrences (each, a “Force Majeure Event”); provided that the party affected by such Force Majeure Event (a) is without fault in causing such delay or failure, (b) notifies the other party of the circumstances causing the Force Majeure Event, and (c) takes commercially reasonable steps to eliminate the delay or failure and resume performance as soon as practicable.

 

11.11. Governing Law. Each Agreement is made in New York governed by and construed in accordance with the laws of the state of New York and the federal laws applicable therein. In connection with each Agreement, the Parties attorn to the jurisdiction of the courts of the State of New York.

 

11.12. Arbitration. Any and all controversies, claims, or disputes arising out of or relating to each Agreement, or the interpretation, performance, or breach thereof, including the scope or applicability of this provision to arbitrate (“Dispute”) shall be referred to senior management of the parties for good faith discussion and resolution. In the event the parties cannot resolve any Dispute informally, then such Dispute shall be submitted to confidential, final, and binding arbitration with venue in New York, NY, pursuant to the rules of the American Arbitration Association.

 

11.12.1. Arbitration Procedure. The arbitration shall take place in New York. The arbitration shall be before a single, neutral arbitrator who is a former or retired New York state or federal court judge. The arbitration may be initiated by any party by giving to the other party written notice requesting arbitration, which notice shall also include a statement of the claims asserted and the facts upon which the claims are based. Customer and Company each consent to this method of dispute resolution, as well as jurisdiction, and consent to this being a convenient forum for any such claim or dispute and waive any right it may have to object to either the method or jurisdiction for such claim or dispute. In the event of any dispute among the parties, the prevailing party shall be entitled to recover damages plus reasonable costs and attorney’s fees, and the decision of the arbitrator shall be final, binding and enforceable in any court.

 

11.12.2. Compelling Arbitration. Any party may bring an action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award.

 

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Notwithstanding this arbitration provision, either party shall be entitled to seek injunctive relief (unless otherwise precluded by any other provision of this Agreement) from any court of competent jurisdiction. If for any reason an action proceeds in court rather than in arbitration, it shall be brought exclusively in a state or federal court of competent jurisdiction located in New York and the parties expressly consent to personal jurisdiction and venue therein and expressly waive any right to trial by jury.

 

11.12.3. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF, RELATING TO OR IN CONNECTION WITH (I) THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (II) THE ACTIONS OF THE PARTIES IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

11.13. Entire Agreement: Each Agreement including all schedules thereto, constitutes the entire agreement between the parties concerning the applicable subject matter and supersedes all prior or collateral agreements, communications, presentations, representations, understandings, negotiations and discussions, oral or written.

 

11.14. Headings: Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.

 

11.15. Number and Gender. Words importing the singular mean the plural and vice versa. Words in the masculine gender include the feminine gender and vice versa.

 

11.16. Severability. If any term, covenant, condition or provision of an Agreement is held by a court or arbitrator(s) of competent jurisdiction to be invalid, void or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court or arbitrator(s) only to the extent deemed necessary by that court or arbitrator(s) to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

 

11.17. Notices. Any notice required to be given pursuant to an Agreement shall be in writing and delivered by electronic mail, addressed to the appropriate party. Any notice given is deemed to have been received on the date on which it was delivered if a business day, or, failing that, on the next business day. To the fullest extent permitted by applicable law, all amendments to the Agreement and all notices, requests, waivers or other communications regarding Customer’s account and/or Customer’s use of the Service (“Communications”) may be provided to Customer electronically and Customer hereby agrees to receive all Communications from Provider in electronic form. Communications may, at DealMaker’s election, be (a) delivered to Customer’s e-mail address, (b) displayed on a screen notice visible at login, or (c) posted on the pages within the DealMaker product. In addition to the forgoing, Communications may also be sent by either party in writing via express courier to the address set forth on the Order Form.

 

11.18. Testimonials. Customer acknowledges that DealMaker’s materials may from time to time include testimonials, real world experiences and insights or opinions about other people’s experiences with DealMaker (“Examples”) and that this information is for illustration purposes only. Customer further acknowledges that campaigns are affected by a variety of factors including but not limited to time, external global events, varying business plans, different industries, and that these Examples are in no way a representation or guarantee that current or future customers will achieve the same or similar results.

 

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11.19. DealMaker reserves the right to update or modify these terms and conditions at any time. Changes will be effective when posted on our website. You are responsible for reviewing the Terms & Conditions. Continued use of our services after changes take effect constitutes acceptance of the revised Terms & Conditions.

 

DealMaker Additional Terms Applicable to Certain DealMaker.tech Services: Third Party Payment Processing, AML/KYC Background Checks, Accreditation Verification and Analytics, Marketing Review Tool.

 

The following sections of the Terms only apply to those DealMaker.tech Customers who purchase the specific services noted.

 

12. Background Checks: AML compliance and “clearing”

 

DealMaker’s integrated AML searches are tools provided to Customer to assist Customer (or its agents) in complying with applicable obligations related to KYC/AML regulations. Company is not engaged to perform and will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations under applicable anti-money laundering legislation and regulations or as to whether any prospective investor poses any risk of money laundering, terrorist financing, or other criminal or suspicious activity. Customer and/or its agents (including counsel or broker dealer as applicable) shall bear primary responsibility to determine compliance with applicable AML legislation and regulation and shall assist in the clearing of any AML exceptions. Customer’s KYC/AML clearing obligations may require Customer to undertake efforts to ensure that individual and corporate investors provide applicable identity verification, explanations of adverse regulatory/disciplinary/bankruptcy history or media reports, confirmation of false positive results, or other documents or information required for AML purposes. DealMaker.tech’s AML searches are limited by capabilities and design of products and services of the third parties DealMaker.tech engages to perform such searches, including limitations on the search methodology, matching logic, data sources, and information accuracy.

 

13. Regulation D, 506(c) Accredited Investor Verification

 

13.1. Customer may engage either Company or a third party (each a “Reviewer”) to assist Customer in complying with applicable obligations related to accredited investor verification pursuant to Rule 506(c) of Regulation D promulgated under the Securities Act (“Regulation D”). If Reviewer is Company, Company shall review investor submissions and uploaded documentation on the DealMaker portal and make a determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D promulgated under the Securities Act) (“DM Verification”).

 

Customer acknowledges that Company may contact investor for the purpose of accredited investor verification and that Customer has obtained investor’s consent to receive communications from Company and/or DealMaker regarding investor’s accreditation verification. If Reviewer is a third party, Company will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D promulgated under the Securities Act).

 

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13.2. Company does not make and hereby disclaims any warranty, expressed or implied with respect to the information provided through DM Verification. Company does not guarantee or warrant the correctness, merchantability, or fitness for a particular purpose of the information provided through DM Verification. Customer acknowledges that:

 

13.2.1. DM Verification shall not include accreditation verification of non-U.S. investors (“foreign accredited investors”) who may be subject to foreign accreditation verification requirements.

 

13.2.2. DM Verification is conducted using a variety of third party database searches, public record services and user submissions. Company cannot represent or warrant that the data provided will be 100% accurate, complete or up to date. The data is time sensitive, and Company provides the information as is. Public records may be incomplete, out of date or have errors.

 

13.2.3. The results of a DM Verification search for any type of personal verification should be interpreted cautiously. Criminal and civil record search results may not provide a complete or accurate representation of a person’s criminal background or civil judgment history. Records are available for the majority, but not all, of states and counties. Records can be incomplete, contain inaccuracies or false matches.

 

13.2.4. Company is not a consumer reporting agency as defined in the Fair Credit Reporting Act (“FCRA”), and the information in DealMaker.tech’s databases has not been collected in whole or in part for the purpose of furnishing consumer reports, as defined in the FCRA. CUSTOMER SHALL NOT USE DM VERIFICATION SERVICES AS A FACTOR IN (1) ESTABLISHING AN INDIVIDUAL’S ELIGIBILITY FOR PERSONAL CREDIT OR INSURANCE OR ASSESSING RISKS ASSOCIATED WITH EXISTING CONSUMER CREDIT OBLIGATIONS, (2) EVALUATING AN INDIVIDUAL FOR EMPLOYMENT, PROMOTION, REASSIGNMENT OR RETENTION, OR (3) ANY OTHER PERSONAL BUSINESS TRANSACTION WITH ANOTHER INDIVIDUAL.

 

13.2.5. Customer assumes all risks arising from its use or disclosure of DM Verification information Company provides to Customer.

 

13.2.6. DM Verification Services are provided in English only. Customer acknowledges that data provided in any other language will require a certified translation which Customer shall pay for, or alternatively, reject the investment.

 

13.2.7. Notwithstanding anything in the DealMaker Terms of Service, Customer agrees that it shall indemnify, defend and hold harmless Company, its officers, directors, employees and agents, and the entities that have contributed information to or provided services for DM Verification against any and all direct or indirect losses, claims, demands, expenses (including attorneys’ fees and cost) or liabilities of whatever nature or kind arising out of Customer’s use of the information provided by DM Verification and Customer’s use or distribution of any information obtained therefrom, except for losses caused exclusively and directly by Company’s gross negligence, fraud, bad faith or wilful misconduct.

 

13.2.8. THE DM VERIFICATION SERVICES AND INFORMATION ARE PROVIDED “AS-IS” AND “AS AVAILABLE” AND NEITHER COMPANY NOR ANY OF ITS DATA SUPPLIERS REPRESENTS OR WARRANTS THAT THE INFORMATION IS CURRENT, COMPLETE OR ACCURATE. COMPANY HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE PERFORMANCE OF THE WEBSITE OR OUR SERVICES, AND THE ACCURACY, CURRENCY, OR COMPLETENESS OF THE INFORMATION, INCLUDING (WITHOUT LIMITATION) ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Customer acknowledges that these disclaimers are an integral part of this Agreement, and that Company would not provide DM Verification services if Customer did not agree to these disclaimers.

 

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14. Third-Party Payment Processing

 

14.1. For the processing of electronic payments (including bank-to-bank payments, credit card, etc.), the Company may submit material(s) and or application(s) to partner third-party payment processors on behalf of the Customer. Upon approval, the Company will enable the partner processors’ intake form/system within the Customer’s online DealMaker.tech portal.

 

14.2. Customer acknowledges that Company makes no guarantee that Customer will be approved by any third party, and approval is subject to each third party’s sole discretion, including, to the extent applicable, its due diligence and compliance policies and procedures. Use of payment processing service(s) is further contingent on the mutual acceptance by Company and Customer of each third party’s respective terms, service agreements, and fees (including fees for merchant processing account and ongoing maintenance, which may be applied on a per-issuer basis) to be included as an addendum to this Agreement and/or presented to Customer for acceptance at the time Customer engages third party, and as updated from time to time. Note holdback periods may apply for electronic payment transfer methods, as enforced by processors. Company shall not be deemed responsible for delivery or any interruption or cessation of any services provided by any third party.

 

14.3. All transactions must clear prior to being made available to Customer. US Federal regulations provide investors with 60 days to recall funds. Customer remains liable to immediately and without protestation or delay return any funds recalled by investors for whatever reason.

 

14.4. Customer agrees that funds deposited into Customer’s Account shall remain in Customer’s Account and shall not be withdrawn by Customer or a person authorized by Customer, from the Customer’s Account prior to Closing.

 

14.5. Company reserves the right to deny, suspend or terminate participation of any investor in the offering to the extent Company, in its sole discretion, deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations, best practices, or the protection of its reputation.

 

14.6. Holdbacks. The Customer hereby acknowledges that certain terms apply in respect of electronic or credit card payment to cover against chargebacks and/or rescission (“Chargeback”). Chargeback windows can vary in duration and amount. For this reason, a holdback is applied to all funds processed online and deposited in Customer Payment Processing Account. Company shall have the right, in its sole discretion, to revise the amount and duration of any holdback. Unless otherwise advised in writing prior to the Effective Date, the holdback is 5.00% of payments processed, for a ninety (90) day period.

 

14.7. In the event that a Customer’s investor disputes, through their financial institution, a subscription payment made using electronic or credit card payments (“Chargeback Dispute”), Customer acknowledges that:

 

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14.7.1. If the Chargeback Dispute is initiated by a subscriber before the Customer has accepted the subscriber’s investment, the Company shall refund the subscriber, and no further action will be taken.

 

14.7.2. If the Chargeback Dispute is initiated by a subscriber after the Customer has accepted the subscriber’s investment, the Company shall:

 

14.7.2.1. notify the Customer within twenty-four (24) hours of the Chargeback Dispute; and

 

14.7.2.2. Provide Customer with five (5) business days to resolve the Chargeback Dispute directly with the subscriber.

 

14.7.3. If, after (5) business days, the subscriber and Customer fail to resolve the Chargeback Dispute, Company will submit evidence contesting the Chargeback Dispute, on behalf of the Customer.

 

14.7.4. Customer agrees to promptly notify Company upon receipt of any Chargeback Dispute notifications, provide all necessary information and documentation requested by the Company to support the Chargeback Dispute and refrain from directly engaging with the payment processor or any other third party regarding the Chargeback Dispute.

 

14.7.5. Customer acknowledges that contesting a Chargeback Dispute may require the Company to share certain transaction details with third party payment processors. The Customer agrees to (a) only share information necessary to contest the Chargeback Dispute and (b) comply with all applicable data protection and privacy laws when handling Customer data and providing Customer data to Company related to the Chargeback Dispute.

 

14.7.6. For the avoidance of doubt, although the Company will make best efforts to represent the Customer in contesting a Chargeback Dispute, Company shall not be liable for and bares no responsibility whatsoever for:

 

14.7.6.1. The outcome of the Chargeback Dispute;

 

14.7.6.2. Any fees or penalties imposed by payment processors or financial institutions as a result of the Chargeback or Chargeback Dispute; or

 

14.7.6.3. Any loss of revenue or business opportunity resulting from the Chargeback or Chargeback Dispute.

 

15. Analytics

 

15.1. Data and Analytics. Company reserves the right to collect data relating to Customer’s usage of the Software during the Term. Without limiting the generality of the foregoing, Company may collect information relating to: (i) Software use (including the number of users, duration of usage sessions, and number of transactions initiated or completed using the Software); (ii) error information (including error messages and any feedback text submitted via any in-application feedback form); (iii) performance data (including software run time); (iv) user experience information (including time spent on each page of the user interface); and (v) license status information (including confirmation of license activation status).

 

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Customer shall have the right to access and use data relating to its usage of the Software for its own purposes, as available through the online dashboard or other reports provided by Company. Customer retains all right, title and interest in AI outputs generated from Customer usage of the Software. Company grants Customer a worldwide, perpetual license to use such AI outputs for Customer’s business, subject to third party rights and applicable laws and regulations.

 

16. Marketing Review Tool

 

16.1. DealMaker’s integrated third party marketing review tool is made available to Customer (or its agents) to review Customer’s marketing materials and assist Customer in complying with applicable marketing regulations (“Marketing Review Tool”). If reviewer is Company, Customer may request that a DealMaker Entity assistant Customer with uploading documentation into the Marketing Review Tool but Company will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results. Company is not engaged to perform and will not perform and shall not be deemed responsible for making any determination as to whether Customer has complied with its obligations under applicable marketing regulations based on information provided by the Marketing Review Tool. Customer and/or its agents (if so designated) shall be responsible for reviewing the results and determining compliance with applicable marketing legislation and regulations.

 

16.2. Use of the Marketing Review Tool is contingent upon Customer’s acceptance of third party provider’s terms and fees (if applicable) to be presented to the Customer at the time Customer initiates engagement with the Marketing Review Tool.

 

16.3. Company does not make and hereby disclaims any warranty, express or implied with respect to the information provided through the Marketing Review Tool. Customer acknowledges that (i) Company does not guarantee or warrant the correctness, merchantability or fitness for a particular purpose of the information provided through Marketing Review Tool; (ii) Marketing Review Tool is PROVIDED “AS-IS” AND “AS AVAILABLE” AND NEITHER COMPANY NOR ANY OF ITS THIRD PARTY SUPPLIER REPRESENTS OR WARRANTS THAT THE INFORMATION IS CURRENT, COMPLETE OR ACCURATE; and (iii) Customer assumes all risks arising from Company or its agents’ use of the Marketing Review Tool.

 

16.4. Notwithstanding anything in the DealMaker Terms of Service, Customer agrees that it shall indemnify, defend and hold harmless Company, its officers, directors, employees and agents, and affiliates that have contributed information to or provided services related to the Marketing Review Tool against any and all direct or indirect losses, claims, demands, expenses (including attorneys’ fees and cost) or liabilities of whatever nature or kind arising out of Customer’s or its agent’s use of the Marketing Review Tool and Customer’s use or distribution of any information obtained therefrom.

 

Enterprise Customer Terms

 

For DealMaker Customers who have signed an Enterprise Order Form, the Terms apply, as well as the following additional terms. If you are not an Enterprise Customer, these additional terms do not apply to you:

 

17. Definitions

 

“Enterprise Customer” means a Customer that has entered into an Enterprise Order Form.

 

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“License” means the Company’s grant to Enterprise Customer of a non-exclusive, non-transferable license for use of the Software by an unlimited number of individual users. Company will designate a DealMaker Enterprise Account to Enterprise Customers with a License.

 

“Intended Purpose” For the purposes of this section, Intended Purpose also includes usage by issuers invited by Enterprise Customer to use Enterprise Customer’s Enterprise Account for the above-described purpose.

 

“Software” as it pertains to this section, shall also include any related printed, electronic and online documentation, manuals, training aids, user guides, system administration documentation and any other files that may accompany the Software licensed by Enterprise Customer.

 

18. SLA

 

18.1. It is expressly understood and agreed that the Company shall determine its capacity to offer consulting services, only to such extent and at such times and places as may be mutually convenient to the parties. Company shall be free to provide similar services to such other business enterprises or activities as the Company may deem fit without any limitation or restriction whatsoever.

 

19. Licensed Intermediary Terms.

 

If Enterprise Customer is a licensed Intermediary (as defined below), the following additional terms apply:

 

A. Books and Records

 

Books and Records. Any and all obligations of Customer related to the storage of books and records including but not limited to, obligations in accordance with Sections 17(a)(1), 17(a)(3) and 17(a)(4) of the Securities Exchange Act of 1934 (“Exchange Act” or “SEA”) remain the sole obligation of Customer and its clients. Company expressly disclaims any and all responsibility with respect to any regulatory or industry requirements with respect to the Customer and its clients’ obligations related to record keeping and maintenance.

 

B. Regulation CF Offerings

 

i. Obligations of the Customer (acting as a Licensed Intermediary):

 

Where Customer using the Software has been engaged by its client to (i) act as a Broker-Dealer and a licensed Intermediary pursuant to Regulation CF, 17 C.F.R. Part 227 (the “Regulation CF”), or (ii) act as a registered Funding Portal and licensed Intermediary pursuant to Regulation CF, in a transaction involving the offer or sale of securities in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)), Customer shall comply with the requirements of Regulation CF (“Licensed Intermediary”). For greater certainty, this includes the requirements that Customer shall:

 

1. Register with the Securities and Exchange Commission (“Commission”) as either (i) a broker or (ii) a Funding Portal under section 15(b) of the Exchange Act (15 U.S.C. 78o(b)), pursuant to Regulation CF, §227.400;

 

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2. If registering with the Commission as a Funding Portal, refrain from:

 

a. Offering investment advice or recommendations;

 

b. Soliciting purchases, sales or offers to buy the securities displayed on its platform;

 

c. Compensate employees, agents, or other persons for such solicitation or based on the sale of securities displayed or referenced on the DealMaker Software used by the Intermediary; or

 

d. Hold, manage, possess, or otherwise handle investor funds or securities.

 

(Regulation CF, §227.300(2)(c))

 

3. Verify that no director, officer or partner of Customer, or any person occupying a similar status or performing a similar function has a prohibited “financial interest in an issuer” as the term is defined in Regulation CF, §227.300(b);

 

4. Have a reasonable basis for believing that Customer’s client seeking to initiate an offering of securities under the Regulation has a reasonable basis for keeping accurate records of security holders and is not disqualified to offer securities pursuant to Regulation CF, §227.301(c);

 

5. Make available to SEC and to the public, the disclosure required by Regulation CF, §227.201 and §227.303;

 

6. Provide educational materials to all investors, pursuant to Regulation CF, §227.302(b);

 

7. Verify that Customer’s clients are not disqualified from offering securities pursuant to Regulation CF, §227.100(b);

 

8. Only accept an Investor into an offering after (1) the Investor opens an account with Customer, (2) the Investor consents to electronic delivery and the review of the educational materials regarding the offering and (3) Customer has a reasonable basis to believe that the Investor meets the investment limitations in Regulation CF pursuant to Regulation CF, §227.302 and §227.303.;

 

9. Provide communication channels by which Investors who have opened accounts can communicate with one another and with representatives of the Customer about offerings made available through the Customer or its clients, pursuant to Regulation CF, §227.303(c); and

 

10. Provide Investors the opportunity to reconsider their investment decision and to cancel their investment commitment until 48 hours prior to the new offering deadline, pursuant to Regulation CF §227.304

 

11. Provide Investors with notice of material changes as described in Regulation CF, §227.304 (“Notice”), including but not limited to notice that the investor’s investment commitment will be canceled unless the investor reconfirms his or her investment commitment within five business days of receipt of the Notice.

 

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12. If registering with the Commission as a Funding Portal, comply with the Conditional Safe Harbor provisions in Regulation CF, §227.402; and

 

13. If registering with the Commission as a Funding Portal, implement written policies and procedures reasonably designed to achieve compliance with federal securities laws and the rules and regulations thereunder, relating to its business as a Funding Portal, as required by Regulation CF, §227.402(a).

 

14. If registering with the Commission as a Funding Portal, manage any reconciliation or reporting questions with the Issuer directly.

 

(“Regulation CF Requirements”)

 

For greater certainty, the parties acknowledge that Company shall bear no responsibility for or liability whatsoever in connection with the Regulation CF Requirements and Customer shall be solely responsible for ensuring that Customer and its clients comply with Regulation CF.

 

Further Assurances. When Customer or its clients use the Software for an offering in reliance on Regulation CF, Customer shall verify that:

 

1. The issuer has filed a Form C Offering Statement with the SEC, as described in Regulation CF, §227.203(a), prior to making an offering to the public pursuant to Regulation CF;

 

2. Issuer complies with marketing and advertising requirements of Regulation CF, §227.204;

 

3. Provider is notified of any investor who, having received Customer’s Notice pursuant to Regulation CF §227.304, opts-out of their investment and whose investment must therefore be refunded;

 

4. Signed and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed by the Customer prior to countersignature;

 

5. The aggregate amount of all securities sold to all Investors by the Issuer in a single offering during a 12-month period shall not exceed $5,000,000; and

 

6. Non-accredited Investors (as defined by Rule 501, CFR §230.301) investing in the offering pursuant to Regulation CF do not exceed the maximum investment permitted in a 12-month period per Regulation CF, §227.100.

 

Payments To Escrow. Customer acknowledges that it shall direct all payments from Investors in respect of a Regulation CF offering to Issuer’s Escrow Account. Customer is responsible for (1) applying for escrow account with a DealMaker-selected Escrow Provider; (2) configuring instructions in the DealMaker Software to ensure that all payments are directed to the appropriate Escrow Account; (3) using the DealMaker.tech application to manage closings pursuant to the DealMaker user guide and (4) coordinating with the escrow company managing the Escrow Account to disburse funds upon request from the issuer.

 

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C. Regulation A/A+ Offerings

 

Obligations of the Customer. Where Customer has been engaged by its client as a broker-dealer in connection with an offering pursuant to Regulation A, 17 C.F.R. Parts 230.251-230.263 (“Regulation A”), the Customer shall verify that:

 

1. Customer shall complete a reasonable due diligence ensuring no anti-fraud or civil liabilities provisions of federal securities laws have been violated. As such, Customer shall maintain a Due Diligence file including the Issuer Agreement (or Selling Agreement); organizational, constating, financial, and administrative support to accept such Issuer engagement; and Issuer’s Offering Memoranda, Subscription Document. Further, the Due Diligence folder shall evidence the collection of such documents in a form as described in Customer’s Written Supervisory Procedures (“WSPs”). Customer shall create and maintain customer files, including new account, accredited investor, or qualified purchaser questionnaires, including Investor attestations.

 

2. Issuer has filed a Form 1-A Offering Statement with the SEC, as described in Regulation A, §230.252 and §239.90, prior to making an offering to the public pursuant to Regulation A;

 

3. Issuer complies with marketing and advertising requirements of 17 C.F.R. Part II, Securities and Exchange Commission and the SRO, FINRA, including but not limited to, setting up the issuer landing page for the Offering website.

 

4. Signed and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed by the Customer and a recommendation is made by Customer to Issuer regarding countersignature.

 

5. Prior to enabling countersignature:

 

a. Issuer has provided written confirmation to Customer that it has BlueSky notice filed in each state, as applicable depending on the states in which the securities are offered and whether the offering is conducted pursuant to Tier 1 or Tier 2 of Regulation A §230.252; and

 

b. For the first 25 days of an offering, Customer will monitor investors until the issuer has provided written confirmation that all state BlueSky requirements have been met for the 53 US jurisdictions.

 

6. Issuer and Issuer counsel have taken the steps required to review non-US investors, as required by the applicable international regulations.

 

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DEALMAKER SECURITIES LLC (“DMS”) CUSTOMER TERMS

 

For any DealMaker Securities Customer, the following additional terms also apply:

 

Broker-Dealer Agreement. These terms and conditions for DealMaker Securities LLC (“DMS Terms”), along with the Order Form and schedules attached to the Order Form create a binding agreement by and between the Customer who has signed the Order Form (“DMS Customer”), and DealMaker Securities LLC, a FINRA-registered Broker-Dealer (“DMS”)(the “DMS Agreement”), as of the Effective Date. DMS Customer may also be considered a Customer of the other DealMaker Entities, depending on the services the Customer purchases.

 

DMS is a registered broker-dealer providing services in the equity and debt securities market, including offerings conducted via SEC approved exemptions such as Rules 506(b) and 506(c) of Regulation D under the Securities Act of 1933 (the “Securities Act”); Regulation A under the Securities Act (“Regulation A”); Regulation CF under the Securities Act (“Regulation CF”) and others. DMS Customer is offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF (the “Offering”). DMS Customer recognizes the benefit of having DMS provide advisory and other services as described herein, on the terms hereof.

 

Capitalized terms used but not defined in these DMS Terms have the meanings set forth in the Order Form or the Terms. In the event of a conflict between the Terms and the DMS Terms, the DMS Terms shall control.

 

1. Appointment & Termination

 

DMS Customer hereby engages and retains DMS to provide operations and compliance services at Customer’s discretion/ subject to DMS’s approval as a FINRA-registered broker-dealer. DMS Customer acknowledges that DMS obligations hereunder are subject to (a) DMS’s acceptance of DMS Customer as a customer following DMS’s due diligence review and (b) if applicable, issuance by the Financial Industry Regulatory Authority (“FINRA”) Department of Corporate Finance of a no objection letter for the Offering.

 

In addition to the Termination Reasons, DMS may terminate this DMS Agreement if, at any time after the commencement of DMS’s due diligence of the potential DMS Customer, DMS reasonably believes that is not advisable to proceed with the contemplated Offering.

 

2. Services

 

DMS will perform the services listed on the Order Form in connection with the Offering (the “Services”).

 

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3. Fees

 

As payment for the Services, DMS Customer shall pay to DMS such fees as described in the Order Form. Commissions are earned once the DMS Customer’s investors are reviewed by DMS. DMS Customer’s acceptance of an investor completes DMS’s service obligation at which time fees are due and payable to DMS. DMS Customer authorizes DMS to deduct any fees owing directly from the DMS Customer’s bank account or third-party escrow account (if Customer has engaged an escrow provider). In the event this DMS Agreement is terminated in accordance with paragraph 1 of the DMS Terms, any advance against accountable expenses anticipated to be incurred, shall be refunded to the extent said expenses are not actually incurred as of the termination date.

 

4. Regulatory Compliance

 

a. DMS Customer and all its third-party providers shall at all times (i) comply with direct reasonable requests of DMS: (ii) maintain all required registrations and licenses, including foreign qualification, if necessary; and (iii) pay all related fees and expenses (including the FINRA corporate filing fee) in each case that are necessary or appropriate to perform their respective obligations under this Agreement. Customer shall comply with and adhere to all DMS policies and procedures.

 

b. DMS Customer shall at all times disclose all compensation received by any third party promoters (including but not limited to social media influencers) in connection with the Offering, in accordance with applicable rules and regulations.

 

c. DMS Customer and DMS will have shared responsibility for the review of all documentation related to the Offering but the ultimate discretion about accepting an Investor will be the sole decision of the DMS Customer. Each Investor will be considered to be that of the DMS Customer and NOT that of DMS.

 

DMS Customer shall advise DMS of each Investor who shall not be accepted into the Offering.

 

d. DMS Customer and DMS shall each supervise and train their respective employees, agents, representatives and independent contractors in the performance of functions allocated to them pursuant to the terms of this DMS Agreement.

 

e. DMS Customer may request DMS assistance with preparation of the Form C for the Offering and guidance on filing the Form C for the Offering in the SEC-Edgar system, but DMS Customer is ultimately responsible for the review and filing the Form C related to the Offering. In the event that DMS Customer files a Form C-W or Form 1-A-W withdrawing its filing in relation to its Offering, DMS Customer agrees to the prompt return to investors of all funds received from investors.

 

f. DMS Customer agrees to

 

  ● Provide accurate, complete, and timely information through the online form provided. The filing creation timeline will commence only upon receipt of all required information
  ● Review all filings with their securities counsel to ensure accuracy before each EDGAR filing.
    DealMaker Securities, LLC is not liable for errors, omissions, or inaccuracies in filings due to incomplete or inaccurate information provided by the Customer.
  ● Submit requested revisions within the specified review windows, as additional rounds or delays may incur further fees and impact timelines.

 

g. If either DMS Customer or DMS receives material communications (orally or in writing) from any Governmental Authority or Self-Regulatory Organization with respect to this Agreement or the performance of either party’s obligations thereunder, the receiving party shall promptly provide said communications to the other party, unless such notification is expressly prohibited by the applicable Governmental Authority.

 

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h. DMS Customer is responsible for the preparation of financial statements using the going concern basis of accounting and required disclosures alerting investors about any underlying financial conditions and management’s plans to address them. DMS Customer will provide evidence of sufficient financial wherewithal as part of the diligence process, and in some cases on-going, as requested by DMS in its due diligence process and enhanced due diligence processes. The amount of sufficient financial wherewithal is subject to the DMS Customer’s specific facts and circumstances and will be evaluated during the due diligence process. DMS Customer acknowledges that it must maintain at least six months of operating capital and update investor disclosures to reflect any change in operating capital below this threshold. DMS Customer acknowledges that these updates to investors disclosures will be made in accordance with the advice of the DMS Customer’s professional advisors.

 

i. DMS Customer is solely responsible for confirming that DMS Customer is authorized to use or wholly owns all DMS Customer intellectual property used in connection with the Offering.

 

j. DMS Customer maintains responsibility for acting as the securities registrar or engaging a separate registrar for its corporate securities issuance and ownership records, if not using DMTA.

 

5. Role of DMS

 

DMS Customer acknowledges and agrees that it relies on its own judgment in engaging DMS Services.

 

DMS Customer understands and agrees that (i) DMS is not assuming any responsibility for the DMS Customer’s underlying business decision to pursue any business strategy or effect any Offering; (ii) DMS makes no representations with respect to the quality of any investment opportunity in connection with the Offering (iii) DMS does not guarantee the performance to or of any Investor in the Offering, (iv) DMS does not guarantee the performance of any third party which provides services to DMS or DMS Customer with respect to the Offering), (v) DMS will make commercially reasonable efforts to perform the Services pursuant to this DMS Agreement, (vi) DMS is not an investment adviser, does not provide investment advice and does not recommend securities transactions and any display of data or other information about the Offering, does not constitute a recommendation as to the appropriateness, suitability, legality, validity, or profitability of any Offering, (vii) DMS Services in connection with this DMS Agreement should not be construed as creating a partnership, joint venture, or employer-employee relationship of any kind, (ix) Services in connection with this DMS Agreement that require registration as a FINRA/SEC registered broker-dealer shall be performed exclusively by DMS or an associated person of DMS, (x) DMS is not providing any accounting, legal or tax advice, and (xi) will use “commercially reasonable efforts” to perform Services pursuant to this DMS Agreement but that this shall not give rise to any express or implied commitment by DMS to purchase or place any of the DMS Customer’s securities. DMS Customer explicitly acknowledges that DMS shall not and is under no duty to recommend DMS Customer’s security and DMS is not selling DMS Customer’s security to retail investors.

 

6. Indemnification

 

Insufficient Funding For A Claim. If the foregoing indemnification or reimbursement is judicially determined to be unavailable or insufficient to fully indemnify and hold harmless DMS as an indemnified party against a Claim, the DMS Customer will contribute to the amount paid or payable by an indemnified party as a result of such Claim in such proportion as is appropriate to reflect the relative financial benefits of the Offering to the Company, on the one hand, and the indemnified party, on the other hand; or if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the DMS Customer on the one hand and the indemnified party on the other hand with respect to such Claim as well as any other relevant equitable considerations. Notwithstanding the preceding paragraphs, in no event will the aggregate amount to be contributed by all indemnified parties towards all Claims and DMS Customer losses, exceed the actual fees received by DMS pursuant to the DMS Agreement.

 

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7. Witness Reimbursement

 

In the event that DMS or any of its employees, officers, directors, affiliates or agents are requested or required to appear as a witness or subpoenaed to produce documents in any action in which the DMS Customer or any of its affiliates is a party to and DMS is not, the DMS Customer will reimburse DMS for all expenses incurred by its employees, officers, directors, affiliates or agents in preparing for and appearing as a witness or producing documents, including the reasonable fees and disbursements of legal counsel.

 

8. Notices

 

Any notices required by the agreement shall be in writing and shall be addressed and delivered via email at the email address included in the Order Form.

 

9. Confidentiality and Mutual Non-Disclosure:

 

Nothing contained herein shall be construed to prohibit the SEC, FINRA, or other government entities from obtaining, reviewing, and auditing any information, records, or data of either party containing Confidential Information, as defined in this Agreement.

 

Disclosure and Retention Of Confidential Information. DMS is hereby expressly permitted by DMS Customer to disclose Confidential Information to third parties involved in the Offering contemplated herein, provided that DMS Customer has been informed of such disclosure in advance and has approved such disclosure (either orally or in writing). DMS may retain one copy of the DMS Customer’s Confidential Information to the extent necessary to comply with industry-specific document retention rules and other regulations, and in an archived computer backup system stored as a result of automated backup procedures for compliance purposes. DMS Customer acknowledges that regulatory record-keeping requirements, as well as securities industry best practices, require DMS to maintain copies of practically all data and communications, even after this Agreement is terminated.

 

10. Miscellaneous

 

10.1. FINRA Arbitration Rules Apply To DMS Customers. Notwithstanding anything to the contrary in this Agreement, ANY DISPUTE, CONTROVERSY, CLAIM OR CAUSE OF ACTION BETWEEN THE DMS Customer AND DMS DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT, OR BREACH THEREOF required or allowed to be conducted by the Financial Industry Regulatory Authority’s (“FINRA”) rules (including the FINRA Code of Arbitration Procedure for Industry Disputes) shall be arbitrated in accordance with such rules. Any arbitration shall be before a neutral arbitrator or panel of arbitrators selected under the FINRA Neutral List Selection System (or any successor system) and in a forum designated by the Director of FINRA Dispute Resolution or any member of FINRA Staff to whom such Director has delegated authority. In general accordance with FINRA Rule 2268, by signing an arbitration agreement the parties agree as follows:

 

10.1.1. This Agreement contains a pre-dispute arbitration clause.

 

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10.1.2. Except as otherwise provided in this Agreement, all parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

 

10.1.3. Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

 

10.1.4. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

 

10.1.5. The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

 

10.1.6. Any panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

 

10.1.7. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

 

10.1.8. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

 

10.1.9. As provided in FINRA Rule 2268, no person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the DMS Customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

 

10.2. DMS Customer Identifying Information. Pursuant to the requirements of Title III of Pub. L. 107-56 (the USA Patriot Act), as amended (the “Patriot Act”) and other applicable laws, rules and regulations, DMS is required to obtain, verify and record information that identifies the DMS Customer which information includes the name and address of the DM Customer and other information that that allows DMS to identify the DMS Customer in accordance with the Patriot Act and other such laws, rules and regulations.

 

10.3. Affiliates of DMS: DMS Customer acknowledges that agreements with DMS affiliates (also referred to as DealMaker Entities in this Agreement), if any, shall be governed by the DMS affiliates’ applicable terms of service and exclusive remedy for Marketing Services to recover any Losses against Customer in respect of the Agreement.”

 

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ADD EXHB 4 ex2-1.htm ADD EXHB

 

Exhibit 2.1

 

State of Delaware

Secretary of State

Division of Corporations

Delivered 12:52 PM 09/11/2026

FILED 12:52 PM 09/11/2026

SR 20264364744 - File Number 10250533

 

 

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

ALTIVERA VISION INC.

(Pursuant to Sections 242 and 245 of the General Corporation Law of the State of Delaware)

 

Altivera Vision Inc., a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the “Corporation”),

 

DOES HEREBY CERTIFY:

 

FIRST: The name of the Corporation is Altivera Vision Inc. The original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on July 7, 2025 under the name “VisAI Partners Inc”, and was amended by that certain Certificate of Amendment filed with the Secretary of State of the State of Delaware on March 18, 2026, which, among other things, changed the name of the Corporation to Altivera Vision Inc.

 

SECOND: This Amended and Restated Certificate of Incorporation, which restates and integrates and also further amends the provisions of the Certificate of Incorporation of the Corporation, as heretofore amended, was duly adopted in accordance with Sections 242 and 245 of the General Corporation Law of the State of Delaware, and was approved by the written consent of the stockholders of the Corporation in accordance with Section 228 of the General Corporation Law of the State of Delaware.

 

THIRD: The Certificate of Incorporation of the Corporation, as heretofore amended, is hereby amended and restated in its entirety to read as follows:

 

FIRST - Name

 

The name of the Corporation is: Altivera Vision Inc.

 

SECOND - Registered Agent

 

The Corporation’s registered office in the State of Delaware is located at 8 The Green, Suite B, in the City of Dover, County of Kent, Zip Code 19901. The registered agent in charge thereof is Northwest Registered Agent Service, Inc.

 

THIRD - Purpose

 

The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware.

 

 

 

 

FOURTH - Stock

 

4.1 Authorized Capital. The total number of shares which this corporation is authorized to issue is 500,000,000, consisting of two classes of shares to be designated, respectively, “Class A Common Stock” and “Class B Common Stock”. The total number of shares of Class A Common Stock that this corporation shall have authority to issue is 200,000,000 shares, each with a par value of $0.0001. The total number of shares of Class B Common Stock that this corporation shall have authority to issue is 300,000,000 shares, each with a par value of $0.0001.

 

4.2 Common Stock. The preferences, limitations, voting powers and relative rights of the Class A Common Stock and the Class B Common Stock are as follows:

 

(a) Voting Rights. The shares of Class B Common Stock shall have no voting rights of any kind, except as may be otherwise required by law. The holders of the Class A Common Stock are entitled to one vote for each share of Class A Common Stock held at all meetings of stockholders (and written actions in lieu of meetings). There shall be no cumulative voting.

 

(b) Equal Status. Except as otherwise expressly provided in this Certificate of Incorporation or required by applicable law, shares of Class A Common Stock and shares of Class B Common Stock shall have the same rights and privileges and rank equally, share ratably and be identical in all respects as to all matters. Without limiting the generality of the foregoing sentence, in connection with a Change of Control Transaction (as defined in Section 4.4 below), shares of Class A Common Stock and Class B Common Stock shall be treated equally, identically and ratably, on a per share basis, with respect to any consideration into which such shares are converted or any consideration paid or otherwise distributed in respect of such shares to stockholders of this corporation, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and the holders of a majority of the outstanding shares of Class B Common Stock, each voting separately as a separate voting group.

 

4.3 Right to Convert Class A Common Stock.

 

(a) Voluntary Conversion. Each holder of Class A Common Stock shall have the right, at such holder’s sole election and at any time or from time to time, to convert any or all of such holder’s shares of Class A Common Stock into an equal number of shares of Class B Common Stock. Any such voluntary conversion shall be effected by the holder providing written notice to the corporation stating the number of shares of Class A Common Stock the holder elects to convert, and shall be deemed to have been made at the time such notice is delivered to the corporation.

 

(b) Automatic Conversion Upon Transfer. Each share of Class A Common Stock shall automatically, without further action by the holder thereof or the corporation, be converted into one share of Class B Common Stock upon any Transfer of such share other than a Permitted Transfer, effective upon the consummation of such Transfer.

 

 

 

 

(c) Certain Definitions. For purposes of this Section 4.3: (i) “Transfer” of a share of Class A Common Stock means any sale, assignment, transfer, conveyance, hypothecation, gift, or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value, whether voluntary or involuntary, and whether by operation of law or otherwise, including the transfer of Voting Control over such share by proxy, voting agreement, or otherwise; provided that the grant of a revocable proxy to one or more officers or directors of the corporation at the request of the board of directors in connection with a meeting of stockholders or a solicitation of written consents shall not constitute a Transfer. (ii) “Voting Control” means, with respect to a share, the power, whether exclusive or shared, to vote or direct the voting of such share. (iii) “Permitted Transfer” means any Transfer of a share of Class A Common Stock (A) to another holder of shares of Class A Common Stock; (B) to a trust, family limited partnership, limited liability company, or other estate planning vehicle established for the benefit of the transferring holder or members of the transferring holder’s immediate family, so long as the transferring holder retains sole Voting Control over the shares so Transferred; (C) to an entity wholly owned and controlled by the transferring holder, so long as the transferring holder retains sole Voting Control over the shares so Transferred; or (D) that is approved in advance and designated a Permitted Transfer by the board of directors. If any transferee described in clause (B) or (C) ceases to satisfy the applicable condition, including the retention of sole Voting Control by the transferring holder, each share of Class A Common Stock held by such transferee shall automatically convert into one share of Class B Common Stock at such time.

 

(d) Effect of Conversion. Upon any conversion pursuant to this Section 4.3, the corporation shall promptly update its books and records to reflect such conversion, and each conversion under Section 4.3(b) shall be effective whether or not notice is given or any certificate or book-entry position is surrendered or updated. Upon conversion, the shares of Class A Common Stock so converted shall be retired and cancelled and shall resume the status of authorized but unissued shares of Class A Common Stock.

 

4.4 Change of Control Transaction. For purposes of this FOURTH Article, “Change of Control Transaction” means: (a) any merger, consolidation, business combination, share exchange, recapitalization, reorganization or other similar transaction involving this corporation, other than any such transaction in which the holders of the voting securities of this corporation outstanding immediately prior to such transaction continue to hold, directly or indirectly, securities representing more than fifty percent (50%) of the total voting power of the surviving or resulting entity (or its parent entity) immediately following such transaction; (b) any sale, lease, exchange, exclusive license or other disposition, in a single transaction or a series of related transactions, of all or substantially all of the assets of this corporation; (c) any transaction or series of related transactions, whether by merger, consolidation, tender offer, sale or issuance of shares or otherwise, in which any person, entity or group (within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended) acquires beneficial ownership of securities of this corporation representing more than fifty percent (50%) of the total voting power of this corporation, other than any bona fide issuance of equity securities by this corporation for capital raising purposes; or (d) any liquidation, dissolution or winding up of this corporation, whether voluntary or involuntary.

 

 

 

 

FIFTH - Board of Directors; Bylaws.

 

The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. The number of directors of the Corporation shall be fixed from time to time in the manner set forth in the Bylaws of the Corporation. Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide. In furtherance and not in limitation of the powers conferred by the laws of the State of Delaware, the Board of Directors is expressly authorized to adopt, amend, or repeal the Bylaws of the Corporation, subject to the power of the stockholders of the Corporation to adopt, amend, or repeal the Bylaws.

 

SIXTH - Limitation of Liability.

 

To the fullest extent permitted by the General Corporation Law of the State of Delaware, as it now exists or may hereafter be amended, a director or officer of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer, as applicable. If the General Corporation Law of the State of Delaware is amended after the effectiveness of this Amended and Restated Certificate of Incorporation to authorize corporate action further eliminating or limiting the personal liability of directors or officers, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law of the State of Delaware, as so amended. Any amendment, repeal, or modification of this SIXTH Article shall not adversely affect any right or protection of a director or officer of the Corporation existing at the time of such amendment, repeal, or modification with respect to acts or omissions occurring prior thereto.

 

IN WITNESS WHEREOF, said Altivera Vision Inc. has caused this Amended and Restated Certificate of Incorporation to be signed by Steven Silver, Chief Executive Officer, this 10th day of September, 2026.

 

ALTIVERA VISION INC.  
     
By: /s/ Steven Silver  
Steven Silver, CEO  

 

 

 

ADD EXHB 5 ex2-2.htm ADD EXHB

 

Exhibit 2.2

 

BYLAWS

OF

Altivera Vision Inc

 

ARTICLE I. CORPORATE OFFICES.

 

Section 1.1. Registered Office and Agent.

 

Registered Office and Agent. The registered office of the corporation shall be at 8 The Green, Suite B in the City of Dover, County of Kent, State of Delaware. The name of the registered agent of the corporation at such location is Northwest Registered Agent Service, Inc.

 

Section 1.2. Other Offices.

 

The board of directors may at any time establish other offices at any place or places, either within or outside of the State of Delaware, where the corporation is qualified to do business.

 

ARTICLE II. MEETINGS OF STOCKHOLDERS.

 

Section 2.1. Place of Meetings.

 

Meetings of stockholders shall be held at any place, within or outside the State of Delaware, designated by the board of directors. In the absence of any such designation, stockholders’ meetings shall be held at the registered office of the corporation or the board of directors may, in its sole discretion, determine that the meeting shall not be held at any place, but will instead be held solely by means of remote communication as provided under Section 211 of the Delaware General Corporation Law (“DGCL”).

 

Section 2.2. Annual Meetings.

 

The annual meeting of stockholders shall be held each year on a date and at a time designated by the board of directors, which date shall be within thirteen (13) months of the last annual meeting of the stockholders or, if no such meeting has been held, the date of incorporation. At the meeting, directors shall be elected and any other proper business may be transacted.

 

Section 2.3. Special Meetings.

 

A special meeting of the stockholders may be called at any time by the board of directors, the chair of the board, the president, or by one or more stockholders holding shares in the aggregate entitled to cast not less than ten percent (10%) of the votes at that meeting.

 

If a special meeting is called by any person or persons other than the board of directors, the request shall be in writing, specifying the time of such meeting and the general nature of the business proposed to be transacted, and shall be delivered personally or sent by registered mail or by other facsimile transmission to the chair of the board, the president or the secretary of the corporation. No business may be transacted at such special meeting other than specified in such notice. The officer receiving the request shall cause notice to be promptly given to the stockholders entitled to vote, in accordance with the provisions of Sections 2.4. and 2.5. of this Article II., that a meeting will be held at the time requested by the person or persons who called the meeting not less than thirty-five (35) nor more than sixty (60) days after the receipt of the request. If the notice is not given within twenty (20) days after the receipt of the request, the person or persons requesting the meeting may give the notice. Nothing contained in this paragraph of this Section 2.3. shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the board of directors may be held.

 

 
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Bylaws (VisAI Partners Inc.)

 

Section 2.4. Notice of Stockholders’ Meetings.

 

All notices of meetings of stockholders shall be given in accordance with Del. Code Ann. tit. 8, § 232 and shall be sent or otherwise given to each stockholder entitled to vote at such meeting as of the record date for determining the stockholders entitled to notice of the meeting in accordance with Section 2.5. of these bylaws not less than ten (10) nor more than sixty (60) days before the date of the meeting. The notice shall specify the place, date and hour of the meeting, and in the case of a special meeting, the purpose or purposes for which the meeting is called. The means of remote communication, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such meeting shall also be provided in the notice.

 

Section 2.5. Manner of Giving Notice; Affidavit of Notice.

 

Notice of any meeting of stockholders, if mailed, is given when deposited in the United States mail, postage prepaid, directed to the stockholder at their address as it appears on the records of the corporation, or if electronically transmitted as provided in Section 8.1. of these bylaws. An affidavit of the secretary or an assistant secretary or of the transfer agent of the corporation that the notice has been given by mail or by a form of electronic transmission, as applicable, shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

 

Section 2.6. Stock Classes; Quorum.

 

The Corporation is authorized to issue Class A Common Stock and Class B Common Stock as set forth in the Corporation’s Certificate of Incorporation, as amended. Shares of Class A Common Stock are the only shares entitled to vote on matters submitted to a vote of the stockholders, except as otherwise required by law or the Certificate of Incorporation. For the purposes of these Bylaws, a “Class A Stockholder” shall mean any stockholder that holds shares of Class A Common Stock.

 

The holders of a majority of the Class A Common Stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business, except as otherwise provided by statute or by the certificate of incorporation. If, however, such quorum is not present or represented at any meeting of the stockholders, then either (i) the chair of the meeting or (ii) the stockholders entitled to vote thereat, present in person or represented by proxy, shall have power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present or represented. At such adjourned meeting at which a quorum is present or represented, any business may be transacted that might have been transacted at the meeting as originally noticed.

 

When a quorum is present at any meeting, the vote of the holders of a majority of the stock having voting power present in person or represented by proxy shall decide any questions brought before such meeting, unless the question is one upon which, by express provision of the laws or of the certificate of incorporation, a different vote is required, in which case such express provision shall govern and control the decision of the question.

 

 
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Bylaws (VisAI Partners Inc.)

 

Section 2.7. Adjourned Meeting; Notice.

 

When a meeting is adjourned to another time or place, unless these bylaws otherwise require, notice need not be given of the adjourned meeting if the time and place thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting the corporation may transact any business that might have been transacted at the original meeting. If the adjournment is for more than thirty (30) days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

 

Section 2.8. Conduct of Business.

 

The chair of any meeting of stockholders shall determine the order of business and the procedure at the meeting, including such matters as the regulation of the manner of voting and the conduct of business.

 

Section 2.9. Voting.

 

The Class A stockholders entitled to vote at any meeting of stockholders shall be determined in accordance with the provisions of Section 2.12 of these bylaws and subject to the provisions of Sections 217 and 218 of the DGCL (relating to voting rights of fiduciaries, pledgors and joint owners of stock and to voting trusts and other voting agreements). Voting at meetings of stockholders need not be by written ballot and, unless otherwise required by law, need not be conducted by an inspector of election unless so determined by the holders of the shares of stock having a majority of the votes which could be cast by the holders of all outstanding shares of stock entitled to vote thereon which are present in person at such meeting.

 

Except as may be otherwise provided in the certificate of incorporation, each stockholder shall be entitled to one vote for each share of Class A Common Stock held by such stockholder or by proxy for each.

 

Section 2.10. Waiver of Notice.

 

Whenever notice is required to be given under any provision of the DGCL, the certificate of incorporation or these bylaws, a written waiver thereof, signed by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need to be specified in any written waiver of notice, or any waiver by electronic transmission, unless so required by the certificate of incorporation or these bylaws.

 

Section 2.11. Stockholder Action by Written Consent Without a Meeting.

 

Unless otherwise provided in the certificate of incorporation, any action required by this article to be taken at any annual or special meeting of stockholders of the corporation, or any action that may be taken at any annual or special meeting of such stockholders, may be taken without a meeting, without prior notice, and without a vote if a consent in writing, setting forth the action so taken, is (a) signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and (b) delivered to the corporation in accordance with Section 228(a) of the DGCL.

 

 
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Bylaws (VisAI Partners Inc.)

 

Every written consent shall bear the date of signature of each stockholder who signs the consent and no written consent shall be effective to take the corporate action referred to therein unless, within sixty (60) days of the date the earliest dated consent is delivered to the corporation, a written consent or consents signed by a sufficient number of holders to take action are delivered to the corporation in the manner prescribed in this Section 2.11.. A telegram, cablegram, electronic mail or other electronic transmission consenting to an action to be taken and transmitted by a stockholder or proxyholder, or by a person or persons authorized to act for a stockholder or proxyholder, shall be deemed to be written, signed and dated for purposes of this Section 2.11. to the extent permitted these bylaws. Any such consent shall be delivered in accordance with Section 228(d)(1) of the DGCL.

 

Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire original writing.

 

Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in writing (including by electronic mail or other electronic transmission as permitted by law) as provided under Section 228(e) of the DGCL. If the action which is consented to is such as would have required the filing of a certificate under any Section of the DGCL if such action had been voted on by stockholders at a meeting thereof, then the certificate filed under such section shall state, in lieu of any statement required by such section concerning any vote of stockholders, that written notice and written consent have been given as provided in Section 228 of the DGCL.

 

Section 2.12. Record Date for Stockholder Notice; Voting; Giving Consents.

 

In order that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or entitled to express consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the board of directors may fix, in advance, a record date, which shall not be more than sixty (60) nor less than ten (10) days before the date of such meeting, nor more than sixty (60) days prior to any other action.

 

If the board of directors does not so fix a record date:

 

(a) The record date for determining the Class A stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held;

 

 
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Bylaws (VisAI Partners Inc.)

 

(b) The record date for determining stockholders entitled to express consent to corporate action in writing without a meeting, when no prior action by the board of directors is necessary, shall be the day on which the first written consent (including consent by electronic mail or other electronic transmission as permitted by law) is delivered to the corporation; and

 

(c) The record date for determining stockholders for any other purpose shall be at the close of business on the day on which the board of directors adopts the resolution relating thereto.

 

A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the board of directors may fix a new record date for the adjourned meeting.

 

Section 2.13. List of Stockholders Entitled to Vote.

 

The officer who has charge of the stock ledger of the corporation shall prepare and make, no later than the tenth day before each meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address (but not the electronic address or other electronic contact information) of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, for a period of 10 days ending on the day before the meeting date(i) during ordinary business hours, either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at the place where the meeting is to be held or (ii) by a reasonably accessible electronic network, provided that the information required to gain access to such list is provided with the notice of the meeting. If the corporation determines to make the list available on an electronic network, the corporation may take reasonable steps to ensure that such information is only available to the stockholders. Such list shall presumptively determine the identity of the stockholders entitled to vote at the meeting and the number of shares held by each of them.

 

Section 2.14. Proxies.

 

Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to corporate action in writing without a meeting may authorize another person or persons to act for them by proxy, but no such proxy shall be voted or acted upon after three (3) years from its date, unless the proxy provides for a longer period. A proxy shall be deemed signed if the stockholder’s name is placed on the proxy (whether by manual signature, typewriting, facsimile, electronic or telegraphic transmission or otherwise) by the stockholder or the stockholder’s attorney-in-fact. A duly executed proxy shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A proxy may remain irrevocable regardless of whether the interest with which it is coupled is an interest in the stock itself or an interest in the corporation generally.

 

 
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ARTICLE III. DIRECTORS.

 

Section 3.1. Powers.

 

Subject to the provisions of the DGCL and any limitation in the certificate of incorporation or these bylaws relating to action required to be approved by the stockholders or by the outstanding shares, the business and affairs of the corporation shall be managed and all corporate powers shall be exercised by or under the direction of the board of directors.

 

Section 3.2. Number of Directors.

 

The authorized number of the directors of the corporation shall be fixed at three (3) until changed by an amendment to the certificate of incorporation, or by an amendment to this Section 3.2., adopted by the affirmative votes of a majority of the shares represented and voting at a duly held meeting at which a quorum is present (which shares voting affirmatively also constitute at least a majority of the required quorum) or by the written consent of shareholders pursuant to Section 2.11. of these bylaws.

 

If for any cause, the directors shall not have been elected at an annual meeting, they may be elected as soon thereafter as convenient.

 

Section 3.3. Election, Qualification and Term of Office of Directors.

 

Except as provided in Section 3.4. of these bylaws, directors shall be elected at each annual meeting of stockholders to hold office until the next annual meeting. Directors need not be stockholders unless so required by the certificate of incorporation or these bylaws, wherein other qualifications for directors may be prescribed. Each director, including a director elected to fill a vacancy, shall hold office until their successor is elected and qualified or until their earlier resignation or removal. Elections of directors need not be by written ballot.

 

Section 3.4. Resignation and Vacancies.

 

Any director may resign at any time upon notice given in writing or by electronic transmission to the attention of the secretary of the corporation. When one or more directors so resigns and the resignation is effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each director so chosen shall hold office as provided in this section in the filling of other vacancies.

 

Unless otherwise provided in the certificate of incorporation or these bylaws:

 

(a) Vacancies and newly created directorships resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director.

 

(b) Whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the certificate of incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors elected by such class or classes or series thereof then in office or by a sole remaining director so elected.

 

If at any time, by reason of death or resignation or other cause, the corporation should have no directors in office, then any stockholder may call a special meeting of stockholders in accordance with the provisions of the certificate of incorporation or these bylaws, or may apply to the Court of Chancery for a decree summarily ordering an election as provided in Section 211 of the DGCL.

 

 
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If, at the time of filling any vacancy or any newly created directorship, the directors then in office constitute less than a majority of the whole board (as constituted immediately prior to any such increase), then the Court of Chancery may, upon application of any stockholder or stockholders holding at least ten percent (10%) of the total number of the shares at the time outstanding having the right to vote for such directors, summarily order an election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by the directors then in office as aforesaid, which election shall be governed by the provisions of Section 211 of the DGCL as far as applicable.

 

Section 3.5. Place of Meetings; Meetings by Telephone.

 

The board of directors of the corporation may hold meetings, both regular and special, either within or outside the State of Delaware. Unless otherwise restricted by the certificate of incorporation or these bylaws, members of the board of directors, or any committee designated by the board of directors, may participate in a meeting of the board of directors, or any committee, by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at the meeting.

 

Section 3.6. Regular Meetings.

 

Regular meetings of the board of directors may be held without notice at such time and at such place as shall from time to time be determined by the board.

 

Section 3.7. Special Meetings; Notice.

 

Special meetings of the board of directors for any purpose or purposes may be called at any time by the chair of the board, the president, any vice president, the secretary or any two (2) directors.

 

Notice of the time and place of special meetings shall be:

 

(a) delivered personally by hand, by courier or by telephone;

 

(b) sent by United States first-class mail, postage prepaid;

 

(c) sent by facsimile; or

 

(d) sent by electronic mail, directed to each director at that director’s address, telephone number, facsimile number or electronic mail address, as the case may be, as shown on the corporation’s records.

 

If the notice is (i) delivered personally by hand, by courier or by telephone, (ii) sent by facsimile or (iii) sent by electronic mail, it shall be delivered or sent at least forty-eight (48) hours before the time of the holding of the meeting. If the notice is sent by United States mail, it shall be deposited in the United States mail at least four (4) days before the time the meeting is to be held. Any oral notice may be communicated to a director. The notice need not specify the place of the meeting (if the meeting is to be held at the corporation’s principal executive office) nor the purpose of the meeting.

 

 
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Section 3.8. Quorum.

 

At all meetings of the board of directors, a majority of the authorized number of directors shall constitute a quorum for the transaction of business and the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the board of directors, except as may be otherwise specifically provided by statute or by the certificate of incorporation. If a quorum is not present at any meeting of the board of directors, then the directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present. A meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of directors, if any action taken is approved by at least a majority of the required quorum for that meeting.

 

Section 3.9. Waiver of Notice.

 

Whenever notice is required to be given under any provision of the DGCL, the certificate of incorporation or these bylaws, a written waiver thereof, signed by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor other purpose of, any regular or special meeting of the directors, or a committee of directors, need to be specified in any written waiver of notice or any waiver by electronic transmission unless so required by the certificate of incorporation or these bylaws.

 

Section 3.10. Board Action by Written Consent Without a Meeting.

 

Unless otherwise restricted by the certificate of incorporation or these bylaws, (1) any action required or permitted to be taken at any meeting of the board of directors, or of any committee thereof, may be taken without a meeting if all members of the board or committee, as the case may be, consent thereto in writing or by electronic transmission; and (2) a consent may be documented, signed and delivered in any matter permitted by Del. Code Ann. tit. 8, § 116.

 

Section 3.11. Fees and Compensation of Directors.

 

Unless otherwise restricted by the certificate of incorporation or these bylaws, the board of directors shall have the authority to fix the compensation of directors. The directors may be paid their expenses, if any, of attendance at each meeting of the board of directors and may be paid a fixed sum for attendance at each meeting of the board of directors or a stated salary as director. No such payment shall preclude any director from serving the corporation in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings.

 

 
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Section 3.12. Approval of Loans to Officers.

 

The corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or of its subsidiaries, including any officer or employee who is a director of the corporation or its subsidiaries, whenever, in the judgment of the directors, such loan, guaranty or assistance may reasonably be expected to benefit the corporation. The loan, guaranty or other assistance may be with or without interest and may be unsecured or secured in such manner as the board of directors shall approve, including, without limitation, a pledge of shares of stock of the corporation. Nothing contained in this section shall be deemed to deny, limit or restrict the powers of guaranty or warranty of the corporation at common law or under any statute.

 

Section 3.13. Removal of Directors.

 

Unless otherwise restricted by statute, by the certificate of incorporation or by these bylaws, any director or the entire board of directors may be removed, with or without cause, by the holders of a majority of the shares then entitled to vote at an election of directors[; provided, however, that, so long as stockholders of the corporation are entitled to cumulative voting, if less than the entire board is to be removed, no director may be removed without cause if the votes cast against removal would be sufficient to elect if then cumulatively voted at an election of the entire board of directors].

 

No reduction of the authorized number of directors shall have the effect of removing any director prior to the expiration of such director’s term of office.

 

ARTICLE IV. COMMITTEES.

 

Section 4.1. Committees of Directors.

 

The board of directors may, by resolution passed by a majority of the whole board, designate one or more committees, with each committee to consist of one or more of the directors of the corporation. The board may designate one or more directors as alternate members of any committee who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not they constitute a quorum, may unanimously appoint another member of the board of directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the board of directors or in the bylaws of the corporation, shall have and may exercise all the powers and authority of the board of directors in the management of the business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers that may require it; but no such committee shall have the power or authority to (i) approve, adopt or recommend to the stockholders any action or matter the DGCL expressly requires be submitted to the stockholders for approval, or (ii) adopt, amend or repeal the bylaws.

 

Section 4.2. Committee Minutes.

 

Each committee shall keep regular minutes of its meetings and report the same to the board of directors when required.

 

 
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Section 4.3. Meetings and Action of Committees.

 

Meetings and actions of committees shall be governed by, and held and taken in accordance with, the provisions of Article III. of these bylaws, Section 3.5. (place of meetings and meetings by telephone), Section 3.6. (regular meetings), Section 3.7. (special meetings and notice), Section 3.8. (quorum), Section 3.9. (waiver of notice), and Section 3.10. (action by written consent without a meeting), with such changes in the context of those bylaws as are necessary to substitute the committee and its members for the board of directors and its members; provided, however, that the time of regular meetings of committees may be determined either by resolution of the board of directors or by resolution of the committee, that special meetings of committees may also be called by resolution of the board of directors and that notice of special meetings of committees shall also be given to all alternate members, who shall have the right to attend all meetings of the committee. The board of directors may adopt rules for the government of any committee not inconsistent with the provisions of these bylaws.

 

ARTICLE V. OFFICERS.

 

5.1. Officers.

 

The officers of the corporation shall be a president, a secretary, and a chief financial officer/treasurer. The corporation may also have, at the discretion of the board of directors, a chair of the board, one or more vice presidents, one or more assistant vice presidents, one or more assistant secretaries, and one or more assistant treasurers, and any such other officers as may be appointed in accordance with the provisions of Section 5.3. of these bylaws. Any number of offices may be held by the same person.

 

5.2. Appointment of Officers.

 

The officers of the corporation, except such officers as may be appointed in accordance with the provisions of Sections 5.3. or 5.5. of these bylaws, shall be appointed by the board of directors, subject to the rights, if any, of an officer under any contract of employment.

 

5.3. Subordinate Officers.

 

The board of directors may appoint, or empower the president to appoint, such other officers and agents as the business of the corporation may require, each of whom shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the board of directors may from time to time determine.

 

5.4. Removal and Resignation of Officers.

 

Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause, by an affirmative vote of the majority of the board of directors at any regular or special meeting of the board or, except in the case of an officer chosen by the board of directors, by any officer upon whom such power of removal may be conferred by the board of directors.

 

Any officer may resign at any time by giving written notice to the corporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the corporation under any contract to which the officer is a party.

 

 
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5.5. Vacancies in Offices.

 

Any vacancy occurring in any office of the corporation shall be filled by the board of directors.

 

5.6. Chair of the Board.

 

The chair of the board, if such an officer be elected, shall, if present, preside at meetings of the board of directors and of the stockholders at which they shall be present, and exercise and perform such other powers and duties as may from time to time be assigned to the chair by the board of directors or as may be prescribed by these bylaws. If there is no president, then the chair of the board shall also be the chief executive officer of the corporation and shall have the powers and duties prescribed in Section 5.7. of these bylaws.

 

5.7. Chief Executive Officer.

 

Subject to such supervisory powers, if any, as may be given by the board of directors to the chair of the board, if there be such an officer, the chief executive officer of the corporation shall, subject to the control of the board of directors, have general supervision, direction, and control of the business and the officers of the corporation. The chief executive officer shall, if present, preside at all meetings of the stockholders and, in the absence or nonexistence of a chair of the board, at all meetings of the board of directors, and shall have the general powers and duties of management usually vested in the office of president of a corporation and such other powers and duties as may be prescribed by the board of directors or these bylaws.

 

The chief executive officer shall execute bonds, mortgages and other contracts requiring a seal, under the seal of the corporation, except where required or permitted by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated by the board of directors to some other officer or agent of the corporation.

 

5.8. President.

 

In the absence or disability of the chief executive officer, the president, if any, in order of their rank as fixed by the board of directors or, if not ranked, a vice president designated by the board of directors, shall perform all the duties of the president and when so acting shall have all the powers of, and be subject to all the restrictions upon, the president. The vice presidents shall have such other powers and perform such other duties as from time to time may be prescribed for them respectively by the board of directors, these bylaws, the president or the chair of the board.

 

5.9. Secretary.

 

The secretary shall keep or cause to be kept, at the principal executive office of the corporation or such other place as the board of directors may direct, a book of minutes of all meetings and actions of directors, committees of directors, and stockholders. The minutes shall show the time and place of each meeting, whether regular or special (and, if special, how authorized and the notice given), the names of those present at directors’ meetings or committee meetings, the number of shares present or represented at stockholders’ meetings, and the proceedings thereof.

 

 
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The secretary shall keep, or cause to be kept, at the principal executive office of the corporation or at the office of the corporation’s transfer agent or registrar, as determined by resolution of the board of directors, a share register, or a duplicate share register, showing the names of all stockholders and their addresses, the number and classes of shares held by each, the number and date of certificates evidencing such shares, and the number and date of cancellation of every certificate surrendered for cancellation.

 

The secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the board of directors required to be given by law or by these bylaws. The secretary shall keep the seal of the corporation, if one be adopted, in safe custody and shall have such other powers and perform such other duties as may be prescribed by the board of directors or these bylaws.

 

5.10. Chief Financial Officer.

 

The chief financial officer shall keep and maintain, or cause to be kept and maintained, adequate and correct books and records of accounts of the properties and business transactions of the corporation, including accounts of its assets, liabilities, receipts, disbursements, gains, losses, capital retained earnings and shares. The books of account shall at all reasonable times be open to inspection by any director.

 

The chief financial officer shall deposit all moneys and other valuables in the name and to the credit of the corporation with such depositories as may be designated by the board of directors. The chief financial officer shall disburse the funds of the corporation as may be ordered by the board of directors, shall render to the president and directors, whenever they request it, an account of all transactions as chief financial officer and of the financial condition of the corporation, and shall have other powers and perform such other duties as may be prescribed by the board of directors or these bylaws.

 

5.11. Representation of Shares of Other Corporations.

 

The chair of the board, the president, any vice president, the chief financial officer, the secretary or assistant secretary of this corporation, or any other person authorized by the board of directors or the president or a vice president, is authorized to vote, represent, and exercise on behalf of this corporation all rights incident to any and all shares of any other corporation or corporations standing in the name of this corporation. The authority granted herein may be exercised either by such person directly or by any other person authorized to do so by proxy or power of attorney duly executed by such person having the authority.

 

5.12. Authority and Duties of Officers.

 

In addition to the foregoing authority and duties, all officers of the corporation shall respectively have such authority and perform such duties in the management of the business of the corporation as may be designated from time to time by the board of directors or the stockholders.

 

 
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ARTICLE VI. INDEMNITY.

 

Section 6.1. Third-Party Actions.

 

Subject to the provisions of this Article VI., the corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that they are or were a director or officer of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement (if such settlement is approved in advance by the corporation, which approval shall not be unreasonably withheld) actually and reasonably incurred in connection with such action, suit or proceeding if they acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe their conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which they reasonably believed to be in or not opposed to the best interest of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that their conduct was unlawful.

 

Section 6.2. Actions by or in the Right of the Corporation.

 

Subject to the provisions of this Article VI., the corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that they are or were 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, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually and reasonably incurred in connection with the defense or settlement of such action or suit, if they acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper. Notwithstanding any other provision of this Article VI., no person shall be indemnified hereunder for any expenses or amounts paid in settlement with respect to any action to recover short-swing profits under Section 16(b) of the Securities Exchange Act of 1934, as amended.

 

Section 6.3. Successful Defense.

 

To the extent that a director, officer, employee or agent of the corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Sections 6.1. or 6.2., or in defense of any claim, issue or matter therein, they shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred in connection therewith.

 

 
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Section 6.4. Determination of Conduct.

 

Any indemnification under Sections 6.1. or 6.2. (unless ordered by a court) shall be made by the corporation only as authorized in the specific case upon a determination that the indemnification of the director, officer, employee or agent is proper in the circumstances because they have met the standard of conduct set forth in Sections 6.1. or 6.2., as applicable. Such determination shall be made (i) by the Board of Directors by a majority vote of a quorum consisting of directors who were not parties to such action, suit or proceeding or (ii) if such quorum is not obtainable or, even if obtainable, as a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, or (iii) by the stockholders. Notwithstanding the foregoing, a director, officer, employee or agent of the corporation shall be entitled to contest any determination that the director, officer, employee or agent has not met the applicable standard of conduct set forth in Sections 6.1. or 6.2. by petitioning a court of competent jurisdiction.

 

Section 6.5. Payment of Expenses in Advance.

 

Expenses incurred in defending a civil or criminal action, suit or proceeding, by an individual who may be entitled to indemnification pursuant to Section 6.1. or 6.2., shall be paid by the corporation in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of the director, officer, employee or agent to repay such amount if it shall ultimately be determined that they are not entitled to be indemnified by the corporation as authorized in this Article VI..

 

Section 6.6. Indemnity Not Exclusive.

 

The indemnification and advancement of expenses provided by or granted pursuant to the other sections of this Article VI. shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in their official capacity and as to action in another capacity while holding such office.

 

Section 6.7. Insurance Indemnification.

 

The corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation, as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against and incurred by them in any such capacity or arising out of their status as such, whether or not the corporation would have the power to indemnify them against such liability under the provisions of this Article VI..

 

Section 6.8. The Corporation.

 

For purposes of this Article VI., references to the “corporation” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had the power and authority to indemnify its directors and officers, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under and subject to the provisions of this Article VI. (including, without limitation, the provisions of Section 6.4.) with respect to the resulting or surviving corporation as they would have with respect to such constituent corporation if its separate existence had continued.

 

 
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Section 6.9. Employee Benefit Plans.

 

For purposes of this Article VI., references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the corporation” shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner they reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the corporation” as referred to in this Article VI..

 

Section 6.10. Indemnity Fund.

 

Upon resolution passed by the Board, the corporation may establish a trust or other designated account, grant a security interest or use other means (including, without limitation, a letter of credit), to ensure the payment of certain of its obligations arising under this Article VI. and/or agreements which may be entered into between the corporation and its officers and directors from time to time.

 

Section 6.11. Indemnification of Other Persons.

 

The provisions of this Article VI. shall not be deemed to preclude the indemnification of any person who is not a director or officer of the corporation or is not serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, but whom the corporation has the power or obligation to indemnify under the provisions of the DGCL or otherwise. The corporation may, in its sole discretion, indemnify an employee, trustee or other agent as permitted by the DGCL. The corporation shall indemnify an employee, trustee or other agent where required by law.

 

Section 6.12. Savings Clause.

 

If this Article VI. or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the corporation shall nevertheless indemnify each person entitled to indemnification hereunder against expenses (including attorney’s fees), judgments, fines and amounts paid in settlement with respect to any action, suit, proceeding or investigation, whether civil, criminal or administrative, and whether internal or external, including a grand jury proceeding and an action or suit brought by or in the right of the corporation, to the full extent permitted by any applicable portion of this Article that shall not have been invalidated, or by any other applicable law.

 

Section 6.13. Continuation of Indemnification and Advancement of Expenses.

 

The indemnification and advancement of expenses provided by, or granted pursuant to, this Article VI. shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.

 

 
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Section 6.14. Conflicts.

 

No indemnification or advance shall be made under this Article VI., except where such indemnification or advance is mandated by law or the order, judgment or decree of any court of competent jurisdiction, in any circumstance where it appears:

 

(a) That it would be inconsistent with a provision of the certificate of incorporation, these bylaws, a resolution of the stockholders or an agreement in effect at the time of the accrual of the alleged cause of the action asserted in the proceeding in which the expenses were incurred or other amounts were paid, which prohibits or otherwise limits indemnification; or

 

(b) That it would be inconsistent with any condition expressly imposed by a court in approving a settlement.

 

ARTICLE VII. RECORDS AND REPORTS.

 

Section 7.1. Maintenance and Inspection of Records.

 

The corporation shall, either at its principal executive office or at such place or places as designated by the board of directors, keep a record of its stockholders listing their names and addresses and the number and class of shares held by each stockholder, a copy of these bylaws as amended to date, accounting books, and other records.

 

Any stockholder of record, in person or by attorney or other agent, shall, upon written demand under oath stating the purpose thereof, have the right during the usual hours for business to inspect for any proper purpose the corporation’s stock ledger, a list of its stockholders, and its other books and records and to make copies or extracts therefrom. A proper purpose shall mean a purpose reasonably related to such person’s interest as a stockholder. In every instance where an attorney or other agent of the person who seeks the right to inspection, the demand under oath shall be accompanied by a power of attorney or such other writing that authorizes the attorney or other agent so to act on behalf of the stockholder. The demand under oath shall be directed to the corporation at its registered office in Delaware or at its principal place of business.

 

A complete list of stockholders entitled to vote at any meeting of stockholders, arranged in alphabetical order for each class of stock and showing the address of each such stockholder and the number of shares registered in each such stockholder’s name, shall be open to the examination of any such stockholder for a period of at least 10 days prior to the meeting in the manner provided by law. The stock list shall also be open to the examination of any stockholder during the whole time of the meeting as provided by law. This list shall presumptively determine the identity of the stockholders entitled to vote at the meeting and the number of shares held by each of them.

 

 
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Section 7.2. Inspection by Directors.

 

Any director shall have the right to examine the corporation’s stock ledger, a list of its stockholders, and its other books and records for a purpose reasonably related to their position as a director. The Court of Chancery is hereby vested with the exclusive jurisdiction to determine whether a director is entitled to the inspection sought. The Court may summarily order the corporation to permit the director to inspect any and all books and records, the stock ledger and the stock list, and to make copies or extracts therefrom. The Court may, in its discretion, prescribe any limitations or conditions with reference to the inspection, or award such other and further relief as the Court may deem just and proper.

 

Section 7.3. Annual Statement to Stockholders.

 

The board of directors shall present at each annual meeting, and at any special meeting of the stockholders when called for by vote of the stockholders, a full and clear statement of the business and condition of the corporation.

 

ARTICLE VIII. NOTICE BY ELECTRONIC TRANSMISSION.

 

Section 8.1. Notice by Electronic Transmission.

 

Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the corporation under any provision of the DGCL, the certificate of incorporation, or the bylaws shall be effective if given by a form of electronic transmission consented to by the stockholder to whom the notice is given. A corporation may give a notice by electronic mail without obtaining the consent noted herein. Any such consent shall be revocable by the stockholder by written notice or electronic transmission to the corporation. A corporation may give a notice by electronic mail in accordance with Del. Code Ann. tit. 8, § 232(a) without obtaining the consent required by Del. Code Ann. tit. 8, § 232(b). Notwithstanding the foregoing, a notice may not be given by an electronic transmission from and after the time that:

 

(a) the corporation is unable to deliver by electronic transmission two consecutive notices given by the corporation; and

 

(b) such inability becomes known to the secretary or an assistant secretary of the corporation or to the transfer agent, or other person responsible for the giving of notice.

 

However, the inadvertent failure to treat such inability as a revocation shall not invalidate any meeting or other action.

 

Any notice given pursuant to the preceding paragraph shall be deemed given:

 

(1) if by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive notice;

 

(2) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such posting and (B) the giving of such separate notice; and

 

(3) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such posting and (B) the giving of such separate notice; and

 

(4) if by any other form of electronic transmission, when directed to the stockholder.

 

An affidavit of the secretary or an assistant secretary or of the transfer agent or other agent of the corporation that the notice has been given by a form of electronic transmission shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

 

 
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Section 8.2. Definition of Electronic Transmission.

 

An “electronic transmission” means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process.

 

Section 8.3. Inapplicability.

 

Notice by a form of electronic transmission shall not apply to Sections 164, 296, 311, 312 or 324 of the DGCL.

 

ARTICLE IX. GENERAL MATTERS.

 

Section 9.1. Checks.

 

From time to time, the board of directors shall determine by resolution which person or persons may sign or endorse all checks, drafts, other orders for payment of money, notes or other evidences of indebtedness that are issued in the name of or payable to the corporation, and only the persons so authorized shall sign or endorse those instruments.

 

Section 9.2. Execution of Corporate Contracts and Instruments.

 

The board of directors, except as otherwise provided in these bylaws, may authorize any officer or officers, or agent or agents, to enter into any contract or execute any instrument in the name of and on behalf of the corporation; such authority may be general or confined to specific instances. Unless so authorized or ratified by the board of directors or within the agency power of an officer, no officer, agent or employee shall have any power or authority to bind the corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.

 

Section 9.3. Stock Certificates; Partly Paid Shares.

 

The shares of the corporation shall be represented by certificates, provided that the board of directors of the corporation may provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the corporation. Notwithstanding the adoption of such a resolution by the board of directors, every holder of stock represented by certificates and upon request, every holder of uncertificated shares, shall be entitled to have a certificate signed by, or in the name of the corporation by, the chair or vice-chair of the board of directors, or the president or vice president, and by the chief financial officer or an assistant treasurer, or the secretary or an assistant secretary of the corporation representing the number of shares registered in certificate form. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate has ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the corporation with the same effect as if the individual were such officer, transfer agent or registrar at the date of issue.

 

 
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The corporation may issue the whole or any part of its shares as partly paid and subject to call for the remainder of the consideration to be paid therefor. Upon the face or back of each stock certificate issued to represent any such partly paid shares, upon the books and records of the corporation in the case of uncertificated partly paid shares, the total amount of the consideration to be paid therefor and the amount paid thereon shall be stated. Upon the declaration of any dividend on fully paid shares, the corporation shall declare a dividend upon partly paid shares of the same class, but only upon the basis of the percentage of the consideration actually paid thereon.

 

Section 9.4. Special Designation on Certificates.

 

If the corporation is authorized to issue more than one class of stock or more than one series of any class, then the powers, the designations, the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or back of the certificate that the corporation shall issue to represent such class or series of stock; provided, however, that, except as otherwise provided in Del. Code Ann. tit. 8, § 202, in lieu of the foregoing requirements there may be set forth on the face or back of the certificate that the corporation shall issue to represent such class or series of stock a statement that the corporation will furnish without charge to each stockholder who so requests the powers, the designations, the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights.

 

Section 9.5. Lost Certificates.

 

Except as provided in this Section 9.5., no new certificates for shares shall be issued to replace a previously issued certificate unless the latter is surrendered to the corporation and cancelled at the same time. The corporation may issue a new certificate of stock or uncertificated shares in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed upon the making of an affidavit of that fact by the person claiming the certificate to be lost, stolen or destroyed, and the corporation may require the owner of the lost, stolen or destroyed certificate, or their legal representative, to give the corporation a bond sufficient to indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate or uncertificated shares.

 

Section 9.6. Construction; Definitions.

 

Unless the context requires otherwise, the general provisions, rules of construction, and definitions in the DGCL shall govern the construction of these bylaws. Without limiting the generality of this provision, the singular number includes the plural, the plural number includes the singular, and the term “person” includes both a corporation and a natural person.

 

 
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Section 9.7. Dividends.

 

The directors of the corporation, subject to any restrictions contained in (i) the DGCL or (ii) the corporation’s certificate of incorporation, may declare and pay dividends upon the shares of its capital stock at any regular or special meeting. Dividends may be paid in cash, in property, or in shares of the corporation’s capital stock.

 

Before payment of any dividend, the directors of the corporation may set apart out of any of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may modify or abolish any such reserve. Such purposes shall include but not be limited to equalizing dividends, repairing or maintaining any property of the corporation, and meeting contingencies.

 

Section 9.8. Fiscal Year.

 

The fiscal year of the corporation shall be fixed by resolution of the board of directors and may be changed by the board of directors.

 

Section 9.9. Seal.

 

The corporation may adopt a corporate seal, which shall be adopted and which may be altered by the board of directors, and may use the same by causing it or a facsimile thereof to be impressed or affixed or in any other manner reproduced.

 

Section 9.10. Transfer of Stock Certificates; Recordation of Transfer.

 

Upon surrender to the corporation or the transfer agent of the corporation of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignation or authority to transfer, it shall be the duty of the corporation to issue a new certificate to the person entitled thereto, cancel the old certificate, and record the transaction in its books.

 

Section 9.11. Stock Transfer Agreements.

 

The corporation shall have power to enter into and perform any agreement with any number of stockholders of any one or more classes of stock of the corporation to restrict the transfer of shares of stock of the corporation of any one or more classes owned by such stockholders in any manner not prohibited by the DGCL.

 

Section 9.12. Registered Stockholders.

 

The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner, shall be entitled to hold liable for calls and assessments the person registered on its books as the owner of shares, and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of another person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Delaware.

 

 
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Section 9.13. Transfer Restrictions.

 

Notwithstanding anything to the contrary, except as expressly permitted in this Section 9.13., a stockholder shall not transfer, whether by sale, gift or otherwise, any shares of the corporation’s stock to any person unless such transfer is approved by the board of directors prior to such

 

transfer, which approval may be granted or withheld in the board of directors’ sole and absolute discretion. Any purported transfer of any shares of the corporation’s stock effected in violation of this Section 9.13. shall be null and void and shall have no force or effect and the corporation shall not register any such purported transfer.

 

Any stockholder seeking the approval of the board of directors of a transfer of some or all of its shares shall give written notice thereof to the secretary of the corporation that shall include: (a) the name of the stockholder; (b) the proposed transferee; (c) the number of shares of the transfer of which approval is thereby requested; and (d) the purchase price (if any) of the shares proposed for transfer. The corporation may require the stockholder to supplement its notice with such additional information as the corporation may request.

 

Section 9.14. Conflicts with Certificate of Incorporation.

 

In the event of any conflict between the provisions of the corporation’s certificate of incorporation and these bylaws, the provisions of the certificate of incorporation shall govern.

 

ARTICLE X. AMENDMENTS.

 

The bylaws of the corporation may be adopted, amended or repealed by the stockholders entitled to vote; provided, however, that the corporation may, in its certificate of incorporation, confer the power to adopt, amend or repeal bylaws upon the directors. The fact that such power has been so conferred upon the directors shall not divest the stockholders of the power, nor limit their power to adopt, amend or repeal bylaws.

 

Adopted: March 18, 2026

 

 

 

 

ADD EXHB 6 ex4-1.htm ADD EXHB

 

Exhibit 4

 

SUBSCRIPTION AGREEMENT

 

THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK. THIS INVESTMENT IS SUITABLE ONLY FOR

 

PERSONS WHO CAN BEAR THE ECONOMIC RISK FOR AN INDEFINITE PERIOD OF TIME AND WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT. FURTHERMORE, INVESTORS MUST UNDERSTAND THAT SUCH INVESTMENT IS ILLIQUID AND IS EXPECTED TO CONTINUE TO BE ILLIQUID FOR AN INDEFINITE PERIOD OF TIME. NO PUBLIC MARKET EXISTS FOR THE SECURITIES, AND NO PUBLIC MARKET IS EXPECTED TO DEVELOP FOLLOWING THIS OFFERING.

 

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR BLUE SKY LAWS AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND STATE SECURITIES OR BLUE SKY LAWS. ALTHOUGH AN OFFERING STATEMENT HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”), THAT OFFERING STATEMENT DOES NOT INCLUDE THE SAME INFORMATION THAT WOULD BE INCLUDED IN A REGISTRATION STATEMENT UNDER THE ACT. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON THE MERITS OF THIS OFFERING OR THE ADEQUACY OR ACCURACY OF THE SUBSCRIPTION AGREEMENT OR ANY OTHER MATERIALS OR INFORMATION MADE AVAILABLE TO SUBSCRIBER IN CONNECTION WITH THIS OFFERING OVER THE WEB-BASED PLATFORM MAINTAINED BY THE COMPANY (THE “PLATFORM”) OR THROUGH DEALMAKER SECURITIES, LLC (THE “BROKER”). ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

 

INVESTORS WHO ARE NOT “ACCREDITED INVESTORS” (AS THAT TERM IS DEFINED IN SECTION 501 OF REGULATION D PROMULGATED UNDER THE ACT) ARE SUBJECT TO LIMITATIONS ON THE AMOUNT THEY MAY INVEST, AS SET OUT IN SECTION 4. THE COMPANY IS RELYING ON THE REPRESENTATIONS AND WARRANTIES SET FORTH BY EACH SUBSCRIBER IN THIS SUBSCRIPTION AGREEMENT AND THE OTHER INFORMATION PROVIDED BY SUBSCRIBER IN CONNECTION WITH THIS OFFERING TO DETERMINE THE APPLICABILITY TO THIS OFFERING OF EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT.

 

THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

 

THE COMPANY MAY NOT BE OFFERING THE SECURITIES IN EVERY STATE. THE OFFERING MATERIALS DO NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH THE SECURITIES ARE NOT BEING OFFERED.

 

 

 

 

THE COMPANY RESERVES THE RIGHT IN ITS SOLE DISCRETION AND FOR ANY REASON WHATSOEVER TO MODIFY, AMEND AND/OR WITHDRAW ALL OR A PORTION OF THE OFFERING AND/OR ACCEPT OR REJECT IN WHOLE OR IN PART ANY PROSPECTIVE INVESTMENT IN THE SECURITIES OR TO ALLOT TO ANY PROSPECTIVE INVESTOR LESS THAN THE AMOUNT OF SECURITIES SUCH INVESTOR DESIRES TO PURCHASE. EXCEPT AS OTHERWISE INDICATED, THE OFFERING MATERIALS SPEAK AS OF THEIR DATE. NEITHER THE DELIVERY NOR THE PURCHASE OF THE SECURITIES SHALL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE COMPANY SINCE THAT DATE.

 

TO: Altivera Vision Inc.
  8 The Green, Suite 26492
  Dover, DE, 19901

 

Ladies and Gentlemen:

 

1. Subscription.

 

(a) The undersigned (“Subscriber”) hereby subscribes for and agrees to purchase shares of Class B Common Stock (the “Securities”), of Altivera Vision Inc., a Delaware corporation (the “Company”), at a purchase price of $0.28 per share of Class B Common Stock (the “Per Security Price”), upon the terms and conditions set forth herein. The minimum subscription is $999.88, or 3,571 shares of Class B Common Stock. The rights and preferences of the Class B Common Stock are as set forth in the Company’s Amended and Restated Certificate of Incorporation, filed as an exhibit to the Offering Statement of the Company filed with the SEC (the “Offering Statement”).

 

(b) Subscriber understands that the Company will assess a processing fee of 2.5% of the value of the Securities subscribed for. This processing fee shall count against the per investor limit set out in Section 4(d)(ii) below.

 

(c) Subscriber understands that the Securities are being offered pursuant to an offering circular (the “Offering Circular”) filed with the SEC as part of the Offering Statement (SEC File No. [_]), as may be amended from time to time. By executing this Subscription Agreement as provided herein, Subscriber acknowledges that Subscriber has received access to this Subscription Agreement, copies of the Offering Circular and Offering Statement including exhibits thereto and any other information required by the Subscriber to make an investment decision.

 

(d) The Subscriber’s subscription may be accepted or rejected in whole or in part, at any time prior to a Closing Date (as hereinafter defined), by the Company at its sole discretion. Upon the expiration of the period specified in Subscriber’s state for notice filings before sales may be made in such state, if any, the subscription may no longer be revoked at the option of the Subscriber. In addition, the Company, at its sole discretion, may allocate to Subscriber only a portion of the number of Securities Subscriber has subscribed for. The Company will notify Subscriber whether this subscription is accepted (whether in whole or in part) or rejected. If Subscriber’s subscription is rejected, Subscriber’s payment (or portion thereof if partially rejected) will be returned to Subscriber without interest and all of Subscriber’s obligations hereunder shall terminate.

 

(e) The aggregate number of Securities issued in this offering shall not exceed 85,714,286 (the “Maximum Offering”) composed of 71,428,571 shares to be sold by the Company and 14,285,715 shares that may be issued for no additional consideration as Bonus Shares (as defined in the Offering Circular). The Company may accept subscriptions until the termination of the Offering in accordance with its terms (the “Termination Date”). The Company may elect at any time to close all or any portion of this offering for such subscriptions submitted prior to the Termination Date or on various dates (each a “Closing Date”).

 

(f) In the event of rejection of this subscription in its entirety, or in the event the sale of the Securities (or any portion thereof) is not consummated for any reason, this Subscription Agreement shall have no force or effect, except for Section 5 hereof, which shall remain in force and effect.

 

(g) The terms of this Subscription Agreement shall be binding upon Subscriber and its transferees, heirs, successors and assigns (collectively, “Transferees”); provided that for any such transfer to be deemed effective, the Transferee shall have executed and delivered to the Company in advance an instrument in a form acceptable to the Company in its sole discretion, pursuant to which the proposed Transferee shall acknowledge, agree, and be bound by the representations and warranties of Subscriber and the terms of this Subscription Agreement.

 

 

 

 

2. Purchase Procedure.

 

(a) Payment. The purchase price for the Securities shall be paid simultaneously with the execution and delivery to the Company of this Subscription Agreement (via Online Acceptance). Subscriber shall deliver an electronically signed copy of this Subscription Agreement, along with payment for the aggregate purchase price of the Securities by ACH electronic transfer or wire transfer to an account designated by the Company, or by any combination of such methods.

 

(b) No Escrow. The Company will not utilize a third-party escrow account for this offering, and all funds tendered by investors will be held in a segregated account until investor subscriptions are accepted by the Company and reviewed by the Broker. Once investor subscriptions are accepted by the Company and reviewed by the Broker, funds will be deposited into an account controlled by the Company. The undersigned shall receive notice and evidence of the digital entry of the number of the Securities owned by undersigned reflected on the books and records of the Company and verified by DealMaker Transfer Agent (the “Transfer Agent”), which books and records shall bear a notation that the Securities were sold in reliance upon Regulation A.

 

3. Representations and Warranties of the Company.

 

The Company represents and warrants to Subscriber that the following representations and warranties are true and complete in all material respects as of the date of each Closing Date, except as otherwise indicated. For purposes of this Agreement, an individual shall be deemed to have “knowledge” of a particular fact or other matter if such individual is actually aware of such fact. The Company will be deemed to have “knowledge” of a particular fact or other matter if one of the Company’s current officers has, or at any time had, actual knowledge of such fact or other matter.

 

(a) Organization and Standing. The Company is a corporation duly formed, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite power and authority to own and operate its properties and assets, to execute and deliver this Subscription Agreement and any other agreements or instruments required hereunder. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business.

 

(b) Issuance of the Securities. The issuance, sale and delivery of the Securities in accordance with this Subscription Agreement has been duly authorized by all necessary corporate action on the part of the Company. The Securities, when so issued, sold and delivered against payment therefor in accordance with the provisions of this Subscription Agreement, will be duly and validly issued, fully paid and non-assessable.

 

The execution and delivery by the Company of this Subscription Agreement and the consummation of the transactions contemplated hereby (including the issuance, sale and delivery of the Securities) are within the Company’s powers and have been duly authorized by all necessary corporate action on the part of the Company. Upon full execution hereof as provided herein, this Subscription Agreement shall constitute a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies and (iii) with respect to provisions relating to indemnification and contribution, as limited by considerations of public policy and by federal or state securities laws.

 

(d) No filings. Assuming the accuracy of the Subscriber’s representations and warranties set forth in Section 4 hereof, no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official is required by or with respect to the Company in connection with the execution, delivery and performance by the Company of this Subscription Agreement except (i) for such filings as may be required under Regulation A or under any applicable state securities laws, (ii) for such other filings and approvals as have been made or obtained, or (iii) where the failure to obtain any such order, license, consent, authorization, approval or exemption or give any such notice or make any filing or registration would not have a material adverse effect on the ability of the Company to perform its obligations hereunder.

 

 

 

 

(e) Capitalization. The authorized and outstanding securities of the Company immediately prior to the initial investment in the Securities is as set forth “Securities Being Offered” in the Offering Circular. Except as set forth in the Offering Circular, there are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal), or agreements of any kind (oral or written) for the purchase or acquisition from the Company of any of its securities.

 

(f) Financial statements. Complete copies of the Company’s financial statements meeting the requirements of Form 1-A under the Securities Act (the “Financial Statements”) have been made available to the Subscriber and appear in the Offering Circular. The Financial Statements are based on the books and records of the Company and fairly present in all material respects the financial condition of the Company as of the respective dates they were prepared and the results of the operations and cash flows of the Company for the periods indicated. The auditing firm, or each firm, which has audited the Financial Statements, is an independent accounting firm within the rules and regulations adopted by the SEC.

 

(g) Proceeds. The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds” in the Offering Circular.

 

(h) Litigation. Except as set forth in the Offering Circular, there is no pending action, suit, proceeding, arbitration, mediation, complaint, claim, charge or investigation before any court, arbitrator, mediator or governmental body, or to the Company’s knowledge, currently threatened in writing (a) against the Company or (b) to the Company’s knowledge, against any consultant, officer, manager, director or key employee of the Company arising out of his or her consulting, employment or board relationship with the Company or that could otherwise materially impact the Company.

 

4. Representations and Warranties of Subscriber. By executing this Subscription Agreement, Subscriber (and, if Subscriber is purchasing the Securities subscribed for hereby in a fiduciary capacity, the person or persons for whom Subscriber is so purchasing) represents and warrants, which representations and warranties are true and complete in all material respects as of such Subscriber’s respective Closing Date(s):

 

(a) Requisite Power and Authority. Such Subscriber has all necessary power and authority under all applicable provisions of law to execute and deliver this Subscription Agreement, and other agreements required hereunder and to carry out their provisions. All action on Subscriber’s part required for the lawful execution and delivery of this Subscription Agreement and other agreements required hereunder have been or will be effectively taken prior to the Closing Date. Upon their execution and delivery, this Subscription Agreement and other agreements required hereunder will be valid and binding obligations of Subscriber, enforceable in accordance with their terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights and (b) as limited by general principles of equity that restrict the availability of equitable remedies.

 

(b) Investment Representations. Subscriber understands that the Securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Subscriber also understands that the Securities are being offered and sold pursuant to an exemption from registration contained in the Securities Act based in part upon Subscriber’s representations contained in this Subscription Agreement.

 

(c) Illiquidity and Continued Economic Risk. Subscriber acknowledges and agrees that there is no ready public market for the Securities and that there is no guarantee that a market for their resale will ever exist. Subscriber must bear the economic risk of this investment indefinitely and the Company has no obligation to list the Securities on any market or take any steps (including registration under the Securities Act or the Securities Exchange Act of 1934, as amended) with respect to facilitating trading or resale of the Securities. Subscriber acknowledges that Subscriber is able to bear the economic risk of losing Subscriber’s entire investment in the Securities. Subscriber also understands that an investment in the Company involves significant risks and has taken full cognizance of and understands all of the risk factors relating to the purchase of Securities.

 

 

 

 

(d) Accredited Investor Status or Investment Limits. Subscriber represents that either:

 

(i) Subscriber is an “accredited investor” within the meaning of Rule 501 of Regulation D under the Securities Act. Subscriber represents and warrants that it meets one or more of the criteria set forth in Appendix A attached hereto; or

 

(ii) The purchase price of the Securities (including any fee to be paid by the Subscriber), together with any other amounts previously used to purchase Securities in this offering, does not exceed 10% of the greater of the Subscriber’s annual income or net worth.

 

Subscriber represents that to the extent it has any questions with respect to its status as an accredited investor, or the application of the investment limits, it has sought professional advice.

 

(e) Shareholder information. Within five days after receipt of a request from the Company, the Subscriber hereby agrees to provide such information with respect to its status as a shareholder (or potential shareholder) and to execute and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company is or may become subject. Subscriber further agrees that in the event it transfers any Securities, it will require the transferee of such Securities to agree to provide such information to the Company as a condition of such transfer.

 

(f) Valuation. The Subscriber acknowledges that the price of the Securities was set by the Company on the basis of the Company’s internal valuation and no warranties are made as to value. The Subscriber further acknowledges that future offerings of Securities may be made at lower valuations, with the result that the Subscriber’s investment will bear a lower valuation.

 

(g) Domicile. Subscriber maintains Subscriber’s domicile (and is not a transient or temporary resident) at the address provided by the Subscriber through the Online Acceptance process.

 

(h) No Brokerage Fees. There are no claims for brokerage commission, finders’ fees or similar compensation in connection with the transactions contemplated by this Subscription Agreement or related documents based on any arrangement or agreement binding upon Subscriber.

 

(i) Foreign Investors. If Subscriber is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), Subscriber hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Subscription Agreement, including (i) the legal requirements within its jurisdiction for the purchase of the Securities, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Securities. Subscriber’s subscription and payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the Subscriber’s jurisdiction.

 

(j) By submitting this payment, Subscriber hereby authorizes DealMaker to charge the designated payment method for the investment amount indicated. Subscriber understands this investment is subject to the terms of the offering and its associated rules and investor protections. Subscriber understands it is not a purchase of goods or services. Subscriber acknowledges that this transaction is final, non-refundable unless otherwise stated or required, and represents an investment subject to risk, including loss. Subscriber confirms that he/she/it has reviewed all offering documents and agree not to dispute this charge with the bank or card issuer, so long as the transaction corresponds to the agreed terms and disclosures.

 

5. Survival of Representations and Indemnity. The representations, warranties and covenants made by the Subscriber herein shall survive the Termination Date. The Subscriber agrees to indemnify and hold harmless the Company and its respective officers, directors and affiliates, and each other person, if any, who controls the Company within the meaning of Section 15 of the Securities Act against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all reasonable attorneys’ fees, including attorneys’ fees on appeal) and expenses reasonably incurred in investigating, preparing or defending against any false representation or warranty or breach of failure by the Subscriber to comply with any covenant or agreement made by the Subscriber herein or in any other document furnished by the Subscriber to any of the foregoing in connection with this transaction.

 

 

 

 

6. Governing Law; Jurisdiction. This Subscription Agreement shall be governed and construed in accordance with the laws of the State of Delaware.

 

EACH OF THE SUBSCRIBER AND THE COMPANY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION LOCATED WITHIN THE STATE OF DELAWARE AND NO OTHER PLACE AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS RELATING TO THIS SUBSCRIPTION AGREEMENT NOT ARISING UNDER THE FEDERAL SECURITIES LAWS MAY BE LITIGATED IN SUCH COURTS.

 

EACH OF SUBSCRIBER AND THE COMPANY ACCEPTS FOR ITSELF AND HIMSELF AND IN CONNECTION WITH ITS AND HIS RESPECTIVE PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS, AND IRREVOCABLY AGREES TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS SUBSCRIPTION AGREEMENT NOT ARISING UNDER THE FEDERAL SECURITIES LAWS. EACH OF SUBSCRIBER AND THE COMPANY FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN THE MANNER AND IN THE ADDRESS SPECIFIED IN SECTION 7 OF THIS SUBSCRIPTION AGREEMENT.

 

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED IN CONTRACT, TORT BUT NOT INCLUDING CLAIMS UNDER THE FEDERAL SECURITIES LAWS) ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR THE ACTIONS OF EITHER PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT THEREOF. EACH OF THE PARTIES HERETO ALSO WAIVES ANY BOND OR SURETY OR SECURITY UPON SUCH BOND WHICH MIGHT, BUT FOR THIS WAIVER, BE REQUIRED OF SUCH PARTY. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS SUBSCRIPTION AGREEMENT. IN THE EVENT OF LITIGATION, THIS SUBSCRIPTION AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. BY AGREEING TO THIS WAIVER, THE SUBSCRIBER IS NOT DEEMED TO WAIVE THE COMPANY’S COMPLIANCE WITH THE FEDERAL SECURITIES LAWS AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER.

 

7. Notices. Notice, requests, demands and other communications relating to this Subscription Agreement and the transactions contemplated herein shall be in writing and shall be deemed to have been duly given if and when (a) delivered personally, on the date of such delivery; or (b) mailed by registered or certified mail, postage prepaid, return receipt requested, in the third day after the posting thereof; or (c) emailed, telecopied or cabled, on the date of such delivery to the address of the respective parties as follows:

 

 

If to the Company, to:

 

Steven Silver, CEO

 

8 The Green, Suite 26492

Dover, DE, 19901

  If to a Subscriber, to Subscriber’s address as provided during Online Acceptance.

 

or to such other address as may be specified by written notice from time to time by the party entitled to receive such notice. Any notices, requests, demands or other communications by telecopy or cable shall be confirmed by letter given in accordance with (a) or (b) above.

 

 

 

 

8. Miscellaneous.

 

(a) All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the person or persons or entity or entities may require.

 

(b) This Subscription Agreement is not transferable or assignable by Subscriber.

 

(c) The representations, warranties and agreements contained herein shall be deemed to be made by and be binding upon Subscriber and its heirs, executors, administrators and successors and shall inure to the benefit of the Company and its successors and assigns.

 

(d) None of the provisions of this Subscription Agreement may be waived, changed or terminated orally or otherwise, except as specifically set forth herein or except by a writing signed by the Company and Subscriber.

 

(e) In the event any part of this Subscription Agreement is found to be void or unenforceable, the remaining provisions are intended to be separable and binding with the same effect as if the void or unenforceable part were never the subject of agreement.

 

(f) The invalidity, illegality or unenforceability of one or more of the provisions of this Subscription Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Subscription Agreement in such jurisdiction or the validity, legality or enforceability of this Subscription Agreement, including any such provision, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

 

(g) This Subscription Agreement supersedes all prior discussions and agreements between the parties with respect to the subject matter hereof and contains the sole and entire agreement between the parties hereto with respect to the subject matter hereof.

 

(h) The terms and provisions of this Subscription Agreement are intended solely for the benefit of each party hereto and their respective successors and assigns, and it is not the intention of the parties to confer, and no provision hereof shall confer, third-party beneficiary rights upon any other person.

 

(i) The headings used in this Subscription Agreement have been inserted for convenience of reference only and do not define or limit the provisions hereof.

 

(j) This Subscription Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

 

(k) If any recapitalization or other transaction affecting the stock of the Company is effected, then any new, substituted or additional securities or other property which is distributed with respect to the Securities shall be immediately subject to this Subscription Agreement, to the same extent that the Securities, immediately prior thereto, shall have been covered by this Subscription Agreement.

 

(l) No failure or delay by any party in exercising any right, power or privilege under this Subscription Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

 

9. Electronic Delivery. The Subscriber hereby consents and agrees that, to the fullest extent permitted by applicable law, including those required under federal securities laws, the Company may deliver all documents, notices, and other materials, including but not limited to those required to be delivered under federal securities laws, by electronic mail to the email address provided by the Subscriber. This consent shall remain in effect unless and until revoked in writing by the Subscriber and delivered to the Company in accordance with the notice provisions of this Subscription Agreement. The Subscriber acknowledges that it is their responsibility to ensure that the Company has a current and valid email address on file and that they have access to the necessary hardware and software to receive, view, and retain such electronic communications.

 

10. Subscription Procedure. Each Subscriber, by providing his or her information, including name, address and subscription amount, and clicking “accept” and/or checking the appropriate box on the online investment platform (“Online Acceptance”), confirms such Subscriber’s information and his or her investment through the platform and confirms such Subscriber’s electronic signature to this Subscription Agreement. Each party hereto agrees that (a) Subscriber’s electronic signature as provided through Online Acceptance is the legal equivalent of his or her manual signature on this Subscription Agreement and constitutes execution and delivery of this Subscription Agreement by Subscriber, (b) the Company’s acceptance of Subscriber’s subscription through the platform and its electronic signature hereto is the legal equivalent of its manual signature on this Subscription Agreement and constitutes execution and delivery of this Subscription Agreement by the Company and (c) each party’s execution and delivery of this Subscription Agreement as provided in this Section 10 establishes such party’s acceptance of the terms and conditions of this Subscription Agreement.

 

 

 

 

APPENDIX A

 

An accredited investor, as defined in Rule 501(a) of the Securities Act of 1933, as amended, includes the following categories of investor:

 

(1) Any bank as defined in section 3(a)(2) of the Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934; any investment adviser registered pursuant to section 203 of the Investment Advisers Act of 1940 or registered pursuant to the laws of a state; any investment adviser relying on the exemption from registering with the Commission under section 203(l) or (m) of the Investment Advisers Act of 1940; any insurance company as defined in section 2(a)(13) of the Act; any investment company registered under the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48) of that Act; any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business Investment Act of 1958; any Rural Business Investment Company as defined in section 384A of the Consolidated Farm and Rural Development Act; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors;

 

(2) Any private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940;

 

(3) Any organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, or limited liability company, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;

 

(4) Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer;

 

(5) Any natural person whose individual net worth, or joint net worth with that person’s spouse or spousal equivalent, exceeds $1,000,000.

 

(i) Except as provided in paragraph (5)(ii) of this section, for purposes of calculating net worth under this paragraph (5):

 

(A) The person’s primary residence shall not be included as an asset;

 

(B) Indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of sale of securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and

 

(C) Indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included as a liability;

 

 

 

 

(ii) Paragraph (5)(i) of this section will not apply to any calculation of a person’s net worth made in connection with a purchase of securities in accordance with a right to purchase such securities, provided that:

 

(A) Such right was held by the person on July 20, 2010;

(B) The person qualified as an accredited investor on the basis of net worth at the time the person acquired such right; and

 

(C) The person held securities of the same issuer, other than such right, on July 20, 2010.

 

(6) Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse or spousal equivalent in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year;

 

(7) Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in §230.506(b)(2)(ii);

 

(8) Any entity in which all of the equity owners are accredited investors;

 

(9) Any entity, of a type of not listed in paragraphs (1), (2), (3), (7), or (8), not formed for the specific purpose of acquiring the securities offered, owning investments in excess of $5,000,000;

 

(10) Any natural person holding in good standing one or more professional certifications or designations or credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status;

 

(11) Any natural person who is a “knowledgeable employee,” as defined in rule 3c-5(a)(4) under the Investment Company Act of 1940 (17 CFR 270.3c-5(a)(4)), of the issuer of the securities being offered or sold where the issuer would be an investment company, as defined in section 3 of such act, but for the exclusion provided by either section 3(c)(1) or section 3(c)(7) of such act;

 

(12) Any “family office,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1):

 

(i) With assets under management in excess of $5,000,000,

 

(ii) That is not formed for the specific purpose of acquiring the securities offered, and

 

(iii) Whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment; and

 

(13) Any “family client,” as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1)), of a family office meeting the requirements in paragraph (12) of this section and whose prospective investment in the issuer is directed by such family office pursuant to paragraph (12)(iii).

 

 

 

ADD EXHB 7 ex6-1.htm ADD EXHB

 

Exhibit 6.1

 

SOFTWARE LICENSE AGREEMENT

 

This Software License Agreement (this “Agreement”) is made and entered into as of September 1, 2026 (the “Effective Date”), by and between Rad Technologies Inc., a Delaware corporation (“Licensor” or Rad), and Altivera Vision Inc., a Delaware corporation (“Licensee” or “AVI”). Licensor and Licensee may be referred to herein collectively as the “Parties” and individually as a “Party.”

 

BACKGROUND

 

A. Licensor owns and operates a proprietary, AI-powered, software platform used for market intelligence, customer acquisition, lead generation, and demand generation (together with all related documentation, tools, and updates, the “Platform”).

 

B. Licensee is building a business which includes providing marketing, customer acquisition, lead generation, and demand generation services to ophthalmology and optometry practices, and wishes to license the Platform for that purpose.

 

C. Licensor is willing to grant Licensee a license to use the Platform, and the Parties wish to set forth the terms of that license, on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Section 1. Definitions.

 

1.1 “Affiliates” means any Person now or hereafter controlled by Licensee that is formed for the purpose of, or otherwise engaged in, conducting the Services within the Field, where “control” means direct or indirect ownership of more than fifty percent (50%) of the voting securities or equity interests of a Person, or the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise.

 

1.2 “AVI Data” means all data, content, and information that Licensee, its Affiliates, or the Practices (as defined below) input into or generate through the Platform, including all client, patient, and practice data, together with all databases, marketing lists, models, and other derivative data developed from such data (including through machine learning).

 

1.3 “Aggregated Data” means Platform usage data that has been de-identified and aggregated so that it does not identify Licensee, any Practice, or any individual.

 

1.4 “Field” means the provision of marketing, customer acquisition, lead generation, and demand generation services to ophthalmology and optometry practices and any other healthcare providers and practices providing vision, eye care and/or vision correction treatments, therapies or surgeries (the “Practices”).

 

1.5 “Net Marketing Fee Revenue” means the gross services fees actually collected by Licensee or its Affiliates for or in connection with the Services provided to Practices by Licensee or its Affiliates, less the following, in each case to the extent documented: (a) pass-through media and advertising spend; (b) third-party costs and platform costs incurred to deliver the Services; (c) refunds, credits, and chargebacks; and (d) sales, use, and similar taxes. The Parties may revise the definition of the exclusions by mutual written agreement as the business is commercialized.

 

1.6 “Person” means any individual, corporation, partnership, limited liability company, trust, unincorporated organization, governmental entity, or other legal entity.

 

1.6 “Services” means the marketing services provided by Licensee or its Affiliates to the Practices within the Field, including marketing strategy, advertising and media campaigns, media buying, brand and creative services, website design and management, customer acquisition, lead generation, and demand generation services, in each case whether provided through the Platform or otherwise, and whether charged separately or as part of a bundled marketing services fee.

 

1.7 “Term” has the meaning set forth in Section 8.1.

 

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Section 2. License Grant.

 

2.1 Grant. Subject to the terms of this Agreement, Licensor hereby grants to Licensee, during the Term, an exclusive (as further described below), worldwide (the “Territory”) non-transferable (except as provided in Section 2.3), sublicensable (solely as provided in Section 2.2) license to access and use the Platform and all Improvements to provide the Services to Practices throughout the Territory. For the avoidance of doubt; (a) the license granted in this Section 2.1 covers the Platform and all Improvements, whether now existing or hereafter developed, and (b) the exclusivity of this license means that, during the Term, neither Licensor or any of its other licensees, customers, resellers or other third parties shall use, access, deploy or otherwise exploit the Platform or any Improvements, directly or indirectly, for any purpose within the Field, and Licensor shall itself not provide, and shall not authorize or assist any third party in providing Services within the Field.

 

2.2 Sublicensing. Licensee may sublicense its rights under Section 2.1 solely to (a) its Affiliates and (b) the Practices, and (c) third-party contractors, agencies, and technology or service providers engaged by Licensee or its Affiliates to perform services on Licensee’s behalf in connection with the Services (each, a “Service Provider,” and together with the Affiliates and Practices, the “Sublicensees”), in each case solely to the extent necessary to provide, receive, or use the Services, and subject to written terms at least as protective of Licensor as this Agreement. Any Service Provider’s access shall be solely on Licensee’s behalf and solely to perform services for Licensee, and no Service Provider shall thereby obtain any right to use the Platform for its own account or on behalf of any other party. Licensee remains responsible for each sublicensee’s compliance with the terms of this Agreement.

 

2.3 Exclusivity; Change of Control. The exclusivity granted in Section 2.1 is a core element of the value of this Agreement to Licensee. This Agreement, and the license granted hereunder, is transferable by either Party in connection with a change of control of such Party.

 

2.4 Restrictions. Except as expressly permitted herein, Licensee shall not, and shall not permit any employee, contractor, Affiliate, Practice, or other person acting on its behalf to:

 

(i)copy, reproduce, modify, adapt, or create derivative works of the Platform or any component thereof;
   
(ii)sublicense, sell, resell, transfer, assign, or otherwise convey any rights in the Platform to any third party, except as expressly permitted under Section 2.2;
   
(iii)reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code, algorithms, or structure of the Platform;
   
(iv)remove, alter, or obscure any proprietary notices, labels, or marks on or within the Platform; or
   
(v)use the Platform in any manner that violates applicable law or the terms of this Agreement.

 

2.5 Reservation of Rights. All rights not expressly granted to Licensee under this Agreement are reserved by Licensor.

 

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Section 3. Development, Customization, and HIPAA.

 

3.1 Customization Investment. Licensee shall fund customization and development of the Platform for use in the Field (the “Improvements”), which customization shall be managed and performed by Licensor. The Parties shall agree upon a customization roadmap and budget in good faith.

 

3.2 Ongoing Development. Licensor shall use commercially reasonable efforts, and shall work in good faith, to continue to develop, maintain, and evolve the Platform, including Improvements reasonably necessary for the effective delivery of the Services in the Field (“Advance” or “Advances”.) If Licensor is unable or unwilling to Advance the Platform and Improvements, then Licensee shall have the right to make Advances independently of the Licensor, including as needed retaining third parties to manage the development of Advances.

 

3.3 HIPAA Compliance. The Parties acknowledge that the Platform is not currently HIPAA compliant and that the Practices will require HIPAA compliance. As part of the customization roadmap under Section 3.1, Licensee shall have the right to require Licensor to undertake commercially reasonable efforts to make the Platform HIPAA compliant, and the Parties shall enter into a Business Associate Agreement to the extent required by applicable law.

 

3.4 Independent Modification. Subject to Section 3.2 Licensee acknowledges that the Platform is Licensor’s proprietary technology and that Licensee may not modify the Platform independently of, or without the involvement of, Licensor.

 

3.5 Ownership of Improvements. Except as set forth in Section 4, all Improvements, including improvements, modifications, and derivative works of the Platform shall be jointly owned by Licensor and Licensee. Subject to Section 2.1 the Improvements may be deployed by Licensor to other clients, provided, however, that Licensor shall not deploy Improvements to any third party operating within the Field, or to any party or in any way which would impair the exclusivity provided in Section 2.1. The Parties shall discuss in good faith compensation to the Licensee for any Improvements deployed by the Licensor to other clients pursuant to this section.

 

Section 4. Data Ownership.

 

4.1 AVI Data. As between the Parties, Licensee owns all right, title, and interest in and to the AVI Data, including all client, patient, and practice data input into the Platform and all derivative data (including marketing databases developed through machine learning). Licensor is granted a limited license to use the AVI Data solely to provide and support the Platform and the Services.

 

4.2 Aggregated Data. Licensor may collect and use Aggregated Data to operate, improve, and develop the Platform, provided that such Aggregated Data does not identify Licensee, any Practice, or any individual.

 

4.3 Privacy Compliance. Each Party shall comply with all applicable data protection and privacy laws in connection with its processing of personal data under this Agreement.

 

Section 5. Fees and Royalties.

 

5.1 Royalty. In consideration of the license granted hereunder, Licensee shall pay Licensor a royalty equal to 12.5% of Net Marketing Fee Revenue (the “Royalty”).

 

5.2 Reporting and Payment. Within thirty (30) days after the end of each calendar quarter, Licensee shall deliver to Licensor a statement of Net Marketing Fee Revenue for the period and shall pay the corresponding Royalty. Licensor may audit Licensee’s relevant records not more than once per calendar year upon reasonable notice.

 

5.3 Alternative Models. The Parties acknowledge that Licensee may adopt a subscription-based or other pricing model for Practices, and agree to revise the fee and Net Marketing Fee Revenue provisions in good faith as reasonably necessary to accommodate such models while preserving the economic intent of this Section 5.

 

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Section 6. Intellectual Property.

 

6.1 Ownership. Licensee acknowledges and agrees that Licensor owns all right, title, and interest in and to the Platform, including all intellectual property rights therein. Licensee acquires no ownership interest in the Platform by reason of this Agreement.

 

6.2 Feedback. Subject to Section 3.5 any feedback or suggestions provided by Licensee regarding the Platform shall be owned by Licensor, and Licensee hereby assigns all right, title, and interest in such feedback to Licensor. Feedback. Licensee grants Licensor a non-exclusive, royalty-free license to use any general feedback, comments, or suggestions Licensee provides regarding the Platform for the purpose of maintaining and improving the Platform generally. Notwithstanding the foregoing, to the extent any such feedback, comment, or suggestion is developed into, incorporated into, or forms the basis of an Improvement (as defined in Section 3.1), ownership of that Improvement shall be governed exclusively by Section 3.5, and this Section 6.2 shall not be construed to grant Licensor sole ownership of, or any greater rights in, such Improvement than Section 3.5 provides.

 

Section 7. Confidentiality.

 

Each Party shall maintain the confidentiality of the other Party’s non-public, proprietary information (“Confidential Information”) and shall use it only to perform this Agreement. These obligations do not apply to information that: (i) is or becomes public through no fault of the receiving Party; (ii) was rightfully known prior to disclosure; (iii) is independently developed without use of the Confidential Information; or (iv) is rightfully obtained from a third party without restriction.

 

Section 8. Term and Termination.

 

8.1 Term. This Agreement commences on the Effective Date and continues for twenty years (the “Initial Term”), and shall automatically renew for successive two (2)-year periods (each, a “Renewal Term,” and together with the Initial Term, the “Term”) unless terminated earlier in accordance with Section 8.2 or 8.4. Neither Party may decline to renew this Agreement for convenience; it may be terminated during the Term only for Cause as set forth in Section 8.2, upon mutual written agreement, or upon a Party’s insolvency, dissolution, or cessation of business as set forth in Section 8.4.

 

8.2 Termination for Cause. Either Party may terminate this Agreement upon thirty (30) days’ prior written notice if the other Party materially breaches this Agreement and fails to cure within the notice period.

 

8.3 Post-Termination License. If prior to the expiration of the Term this Agreement terminates for any reason other than Licensee’s uncured material breach, Licensee will have an exclusive perpetual license to continue using the Platform and Improvements in the Field, together with access to the source code escrow release if reasonably necessary to continue such use.

 

8.4 Termination for Insolvency. Either Party may terminate this Agreement immediately upon written notice to the other Party if such other Party: (a) becomes insolvent or admits in writing its inability to pay its debts as they become due; (b) makes a general assignment for the benefit of creditors; (c) files, or has filed against it, a petition for bankruptcy, reorganization, or similar relief under any applicable law, which petition (if involuntary) is not dismissed within sixty (60) days; (d) has a receiver, trustee, or similar officer appointed for a substantial part of its property; or (e) ceases, or announces its intention to cease, to conduct business in the ordinary course, other than in connection with a change of control permitted under Section 2.3.

 

8.5 Effect of Termination. Upon expiration or termination, all licenses granted to Licensee cease, Licensee shall cease using the Platform, each Party shall return or destroy the other’s Confidential Information, and any amounts accrued prior to termination remain payable. Licensee retains ownership of the AVI Data, and Licensor shall reasonably cooperate to return or export the AVI Data.

 

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Section 9. Representations and Warranties.

 

Each Party represents and warrants that it has the right and authority to enter into this Agreement and to perform its obligations hereunder, and that it will comply with all applicable laws in its performance. Except as expressly set forth herein, the Platform is provided “as is,” and Licensor disclaims all other warranties to the maximum extent permitted by law.

 

Section 10. Limitation of Liability.

 

Except for breaches of confidentiality, infringement, or indemnification obligations, neither Party shall be liable for any indirect, special, incidental, or consequential damages, and each Party’s aggregate liability under this Agreement shall not exceed the total fees paid or payable under this Agreement during the twelve (12) months preceding the event giving rise to the claim.

 

Section 11. Indemnification.

 

Licensor shall defend and indemnify Licensee against third-party claims that the Platform, as provided by Licensor, infringes such third party’s intellectual property rights. Licensee shall defend and indemnify Licensor against third-party claims arising from Licensee’s or the Practices’ use of the Platform in violation of this Agreement or applicable law. The indemnified Party shall promptly notify the indemnifying Party, grant it control of the defense, and provide reasonable cooperation.

 

Section 12. Dispute Resolution.

 

The Parties shall first attempt to resolve any dispute through good-faith negotiations. If unresolved within thirty (30) days, the Parties shall mediate, and if still unresolved within sixty (60) days of initiating mediation, the dispute shall be finally resolved by binding arbitration before a single arbitrator in Los Angeles County, California, under the Commercial Arbitration Rules of the American Arbitration Association.

 

Section 13. Miscellaneous.

 

This Agreement is governed by the laws of the State of California, without regard to its conflict-of-laws principles. Except as provided in Section 2.3, neither Party may assign this Agreement without the other Party’s prior written consent, except in connection with a change of control. This Agreement constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior understandings, including, as between the Parties, any conflicting technology-license provisions of the existing Managed Services Agreement. This Agreement may be amended only in a writing signed by both Parties, and may be executed in counterparts.

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

RAD TECHNOLOGIES, INC.  
     
By:  /s/ Jeremy Barnett  
Name: Jeremy Barnett  
Title: Chief Executive Officer  
     
ALTIVERA VISION INC.  
     
By:  /s/ Jeffrey Machat   
Name: Jeffrey Machat  
Title: President and Chief Medical Officer  

 

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ADD EXHB 8 ex6-2.htm ADD EXHB

 

Exhibit 6.2

 

MANAGED SERVICES AGREEMENT

 

This Managed Services Agreement (this “Agreement”) is entered into as of September 1, 2026 (the “Effective Date”), by and between RAD Technologies, Inc., a Delaware corporation (“Service Provider”), and Altivera Vision Inc., a Delaware corporation (“Client”) (each, a “Party” and collectively, the “Parties”).

 

RECITALS

 

WHEREAS, the Service Provider is an affiliate of the Client, and the Parties desire to formalize the provision of administrative, operational, and related support services from the Service Provider to the Client on the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1. PARTIES. The Parties to this Agreement are the Service Provider and the Client, as identified in the introductory paragraph above. The Service Provider is an affiliate of the Client. The Parties acknowledge their ownership and affiliated relationship and agree that nothing in this Agreement shall be construed to limit or alter any legal rights or obligations arising from such relationship under applicable law or the Client’s governing documents. Each Party represents and warrants that it has full power and authority to enter into this Agreement and to perform its obligations hereunder. The Parties intend that the Services and the fees payable for them under this Agreement reflect terms no less favorable to the Client than those that would be agreed between unaffiliated parties dealing at arm’s length.

 

2. PURPOSE. The purpose of this Agreement is to establish a formal framework pursuant to which the Service Provider will provide management, operational, and related support services to the Client. The Parties intend for this Agreement to govern the terms and conditions applicable to such services, including the allocation of responsibilities, costs, and risks, and the protection of each Party’s respective rights and interests. The Parties acknowledge that the Services are intended to support and advance the business operations of the Client for their mutual benefit.

 

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3. SERVICES. Subject to the terms and conditions of this Agreement, the Service Provider agrees to provide to the Client management, operational, technical, and administrative support services (collectively, the “Services”) as more particularly described on the applicable Service Schedules. Such Services may include, without limitation, general management and executive oversight, business operations and administration, accounting, financial planning and reporting, marketing and business development, technology support and platform access, human resources and staffing coordination, and such other services as are reasonably necessary to support the Client’s business activities. For the avoidance of doubt, the Services exclude the license of, and access to, the Platform, which is governed exclusively by the Software License Agreement referred to in Section 5.

 

(a)The specific scope, nature, and description of the Services shall be set forth in one or more schedules, statements of work, or service descriptions (each, a “Service Schedule”), including Schedule A attached hereto and incorporated herein by reference. Any Service Schedule may be updated from time to time by mutual written agreement of the Parties without requiring an amendment to this Agreement.

 

(b)The Parties may, from time to time, agree in writing to expand, modify, or supplement the scope of Services. Any such changes shall be documented in an updated or additional Service Schedule or written addendum, duly executed by authorized representatives of both Parties, and shall, upon execution be deemed incorporated into this Agreement.
   
 (c)The Client may direct that any or all of the Services be provided to, or for the benefit of, any direct or indirect subsidiary of the Client identified in a Service Schedule (each, a “Designated Affiliate”). The Client shall remain primarily liable for all fees payable in respect of Services provided to a Designated Affiliate and for each Designated Affiliate’s compliance with the terms of this Agreement as if it were the Client.

 

4. FEES AND PAYMENT. In consideration of the Services provided by the Service Provider pursuant to this Agreement, the Client shall pay to the Service Provider the fees and charges set forth in Schedule B attached hereto and incorporated herein by reference, as may be amended by the Parties in writing from time to time.

 

(a)The fees payable by the Client for the Services shall be as described in Schedule B. The Parties acknowledge that fees may be structured as fixed periodic fees, usage-based charges, cost-plus arrangements, or such other methodology as the Parties may agree and set forth in Schedule B. The fees set out in Schedule B may be amended by mutual written agreement of the Parties without amendment of the Agreement.

 

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(b)The Service Provider shall issue invoices to the Client in accordance with the invoicing schedule and procedures set forth in Schedule B, or as otherwise agreed in writing by the Parties. Unless otherwise specified in Schedule B, payment shall be due and payable within thirty (30) days following the date of the applicable invoice. All payments shall be made in U.S. dollars by wire transfer or such other method as the Parties may agree in writing.
   
(c)Any amounts not paid by the Client when due shall accrue interest at a rate to be agreed upon by the Parties in writing, or in the absence of such agreement, at the maximum rate permitted by applicable law, from the date payment is due until the date payment is received in full. The Service Provider reserves the right to suspend performance of the Services in the event that any undisputed invoice remains unpaid beyond a reasonable cure period following written notice to the Client.

 

5. SOFTWARE LICENSE. The Client’s access to and use of any proprietary software, platform, application, or technology system of the Service Provider (the “Platform”) is governed exclusively by the separate Software License Agreement between the Parties dated on or about the date hereof, as amended from time to time (the “Software License Agreement”). No license, right, or interest in or to the Platform is granted under this Agreement, and in the event of any conflict between this Agreement and the Software License Agreement in respect of the Platform, the Software License Agreement shall govern. Termination or expiration of this Agreement shall not of itself terminate the Software License Agreement, and termination or expiration of the Software License Agreement shall not of itself terminate this Agreement.

 

6. TERM AND TERMINATION. This Agreement shall commence on the Effective Date and shall continue in full force and effect for an initial term of three (3) years (the “Initial Term”), unless earlier terminated in accordance with this Section 6.

 

(a)Upon expiration of the Initial Term, this Agreement shall automatically renew for successive periods of one (1) year (each, a “Renewal Term”), unless either Party provides written notice of non-renewal to the other Party no less than thirty (30) days prior to the expiration of the then-current term. The Initial Term and any Renewal Terms are collectively referred to herein as the “Term.”

 

(b)Either Party may terminate this Agreement for convenience, without cause, upon not less than thirty (30) days’ prior written notice to the other Party. Such termination shall not relieve the Client of the obligation to pay any fees or charges accrued and outstanding as of the effective date of termination.

 

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(c)Either Party may terminate this Agreement upon written notice to the other Party if such other Party materially breaches any provision of this Agreement and fails to cure such breach within thirty (30) days following written notice specifying the nature of the breach in reasonable detail (or such longer period as may be reasonably necessary to cure such breach, provided the breaching Party commences cure within such initial cure period and diligently pursues cure to completion).
   
(d)Either Party may terminate this Agreement immediately upon written notice to the other Party in the event that such other Party: (i) becomes insolvent, makes a general assignment for the benefit of its creditors, or admits in writing its inability to pay its debts as they become due; (ii) files, or has filed against it, a petition in bankruptcy, reorganization, dissolution, or liquidation that is not dismissed within sixty (60) days of filing; or (iii) has a receiver, trustee, or similar officer appointed for its property or affairs.
   
(e)Upon expiration or termination of this Agreement for any reason: (i) the Service Provider shall cease providing the Services as of the effective date of termination or expiration; (ii) all fees, charges, and other amounts owed by the Client to the Service Provider that have accrued prior to such date shall become immediately due and payable; (iii) the Client’s rights in respect of the Platform shall be governed solely by the Software License Agreement; and (iv) each Party shall return or, at the disclosing Party’s election, destroy all Confidential Information (as defined in Section 8) of the other Party in its possession, subject to any applicable retention obligations required by law. Termination or expiration of this Agreement shall not affect any rights or obligations that have accrued prior to the effective date thereof, and the provisions of this Agreement that by their nature should survive termination shall so survive.

 

7. RELATIONSHIP OF THE PARTIES. Notwithstanding the ownership and affiliated relationship between the Parties, the Service Provider and the Client are, for purposes of this Agreement and the performance of the Services hereunder, independent contractors. Nothing in this Agreement shall be construed to create a partnership, joint venture, agency, employment, or fiduciary relationship between the Parties. Neither Party shall have the authority to bind the other Party to any obligation or liability, or to make any representation, warranty, or commitment on behalf of the other Party, without such other Party’s prior written consent. Each Party shall be solely responsible for the compensation, benefits, and employment obligations of its own employees and contractors.

 

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8. CONFIDENTIALITY. Each Party (in its capacity as a receiving party, the “Receiving Party”) agrees to keep strictly confidential all non-public information disclosed by the other Party (in its capacity as a disclosing party, the “Disclosing Party”) in connection with this Agreement that is designated as confidential or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure (“Confidential Information”). Confidential Information includes, without limitation, proprietary technology, business plans, financial data, customer and vendor information, pricing, software, source code, and the terms of this Agreement.

 

The Receiving Party shall: (i) use the Confidential Information solely for the purposes of performing its obligations or exercising its rights under this Agreement; (ii) protect the Confidential Information using at least the same degree of care it uses to protect its own confidential information, but in no event less than reasonable care; and (iii) not disclose the Confidential Information to any third party without the prior written consent of the Disclosing Party, except to its employees, officers, directors, and contractors who have a need to know such information for the purposes of this Agreement and who are bound by confidentiality obligations no less protective than those set forth herein.

 

The obligations of confidentiality set forth in this Section 8 shall not apply to information that: (i) is or becomes generally available to the public through no fault of the Receiving Party; (ii) was rightfully known to the Receiving Party prior to disclosure by the Disclosing Party, free of any obligation of confidentiality; (iii) is rightfully received from a third party without restriction on disclosure; or (iv) is required to be disclosed by applicable law, regulation, or court order, provided that the Receiving Party gives the Disclosing Party prompt written notice of such requirement and cooperates with the Disclosing Party in seeking a protective order or other appropriate relief. The confidentiality obligations set forth in this Section 8 shall survive the expiration or termination of this Agreement for a period of three (3) years, or such longer period as may be required by applicable law.

 

9. INTELLECTUAL PROPERTY. As between the Parties, each Party shall retain sole and exclusive ownership of all intellectual property rights in and to any works, inventions, developments, data, materials, software, or other subject matter that were developed, created, or acquired by such Party prior to the Effective Date or independently of this Agreement (“Pre-Existing IP”). Nothing in this Agreement shall be construed to transfer or assign any rights in a Party’s Pre-Existing IP to the other Party, and no license to any Pre-Existing IP is granted hereunder except as expressly set forth in this Agreement.

 

(a)Each Party shall retain all right, title, and interest in and to its respective Pre-Existing IP. Any access to or use of a Party’s Pre-Existing IP granted under this Agreement is strictly limited to the purposes expressly set forth herein and shall not be construed as a general license or transfer of ownership.

 

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(b)Unless otherwise expressly agreed in writing, all work product, deliverables, or other materials created, developed, or produced by the Service Provider in the course of performing the Services (“Work Product”) shall be owned by the Service Provider; provided that the Client shall receive a non-exclusive, non-transferable, royalty-free license to use such Work Product solely for its internal business purposes. The Parties may agree in writing to alternative ownership or licensing arrangements for specific Work Product in a Service Schedule or separate written agreement.

 

(c)Notwithstanding anything to the contrary in this Agreement, the Service Provider shall retain sole and exclusive ownership of all right, title, and interest in and to the Platform, including all underlying software, source code, algorithms, interfaces, documentation, and enhancements thereto, whether developed before or after the Effective Date. The Client acknowledges that it acquires no ownership interest in the Platform by virtue of this Agreement, and that its rights with respect to the Platform are limited to the license expressly granted under the Software License Agreement.

 

10. LIMITATION OF LIABILITY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE SERVICES, INCLUDING WITHOUT LIMITATION LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS, LOSS OF DATA, OR LOSS OF GOODWILL, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER LEGAL THEORY, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

IN NO EVENT SHALL EITHER PARTY’S AGGREGATE LIABILITY TO THE OTHER PARTY ARISING OUT OF OR RELATED TO THIS AGREEMENT, WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY, OR ANY OTHER LEGAL THEORY, EXCEED THE TOTAL AMOUNTS PAID OR PAYABLE BY THE CLIENT TO THE SERVICE PROVIDER UNDER THIS AGREEMENT DURING THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM (THE “LIABILITY CAP”). THE FOREGOING LIMITATIONS SHALL NOT APPLY TO: (i) EITHER PARTY’S INDEMNIFICATION OBLIGATIONS UNDER SECTION 11; (ii) DAMAGES ARISING FROM A PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT; OR (iii) BREACHES OF SECTION 8 (CONFIDENTIALITY) OR SECTION 9 (INTELLECTUAL PROPERTY).

 

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11. INDEMNIFICATION. Each Party (in such capacity, the “Indemnifying Party”) shall defend, indemnify, and hold harmless the other Party and its respective officers, directors, employees, agents, affiliates, successors, and assigns (collectively, the “Indemnified Parties”) from and against any and all third-party claims, actions, suits, proceedings, losses, liabilities, damages, judgments, penalties, fines, costs, and expenses (including reasonable attorneys’ fees) (collectively, “Losses”) arising out of or relating to: (i) the Indemnifying Party’s breach of any representation, warranty, covenant, or obligation under this Agreement; (ii) the Indemnifying Party’s gross negligence or willful misconduct in connection with this Agreement; or (iii) the infringement, misappropriation, or violation of any third-party intellectual property rights by the Indemnifying Party in connection with the performance of this Agreement. The Indemnified Party shall: (i) promptly notify the Indemnifying Party in writing of any claim for which indemnification is sought; (ii) grant the Indemnifying Party sole control over the defense and settlement of such claim, provided that the Indemnifying Party shall not settle any claim in a manner that imposes any obligation or liability on the Indemnified Party without the Indemnified Party’s prior written consent; and (iii) provide the Indemnifying Party with reasonable cooperation and assistance in connection with the defense or settlement of such claim, at the Indemnifying Party’s expense. The Indemnified Party reserves the right to participate in the defense of any claim at its own expense and with counsel of its own choosing.

 

12. DISPUTE RESOLUTION. This Agreement shall be governed by and construed in accordance with the laws of Delaware, without regard to its conflict of laws principles. In the event of any dispute, claim, or controversy arising out of or relating to this Agreement, or the breach, termination, enforcement, interpretation, or validity thereof (a “Dispute”), the Parties shall first attempt to resolve such Dispute through good faith negotiation between senior representatives of each Party. Either Party may initiate such negotiation by delivering written notice to the other Party describing the nature of the Dispute in reasonable detail. The Parties shall have a period of thirty (30) days following delivery of such notice (the “Negotiation Period”) to attempt to resolve the Dispute, unless the Parties agree in writing to extend such period.

 

If the Parties are unable to resolve a Dispute through negotiation within the Negotiation Period, either Party may submit such Dispute to binding arbitration administered by the American Arbitration Association (AAA) in New York, New York, in accordance with its Commercial Arbitration Rules. The decision or award rendered in such proceeding shall be final and binding upon the Parties and may be entered as a judgment in any court of competent jurisdiction.

 

Notwithstanding the foregoing, either Party may seek interim injunctive or other equitable relief in any court of competent jurisdiction to protect its rights pending the resolution of any Dispute, without waiving any other rights or remedies available to it under this Agreement or applicable law.

 

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13. GENERAL PROVISIONS.

 

(a)Entire Agreement. This Agreement, together with all Schedules attached hereto, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions, whether oral or written, between the Parties relating to the subject matter hereof. No prior drafts of this Agreement shall be used in the interpretation or construction of this Agreement.

 

(b)Amendments. This Agreement may not be amended, modified, or supplemented except by a written instrument duly executed by authorized representatives of both Parties. No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the waiving Party. No failure or delay by either Party in exercising any right or remedy under this Agreement shall operate as a waiver of such right or remedy, nor shall any single or partial exercise of any right or remedy preclude any other or further exercise thereof.

 

(c)Assignment. Neither Party may assign, transfer, delegate, or otherwise dispose of this Agreement, or any of its rights or obligations hereunder, without the prior written consent of the other Party, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that the Service Provider may assign this Agreement, without the Client’s consent, to any successor entity in connection with a merger, acquisition, reorganization, or sale of all or substantially all of its assets or equity interests. Any purported assignment in violation of this Section shall be null and void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns.

 

(d)Force Majeure. Neither Party shall be liable to the other Party for any failure or delay in the performance of its obligations under this Agreement (other than payment obligations) to the extent such failure or delay is caused by circumstances beyond such Party’s reasonable control, including without limitation acts of God, natural disasters, epidemic or pandemic, war, terrorism, civil unrest, governmental action, labor disputes, or failures of third-party infrastructure or services (each, a “Force Majeure Event”). The affected Party shall provide prompt written notice to the other Party of any Force Majeure Event and shall use commercially reasonable efforts to mitigate the impact of such event and resume performance as soon as reasonably practicable. If a Force Majeure Event continues for a period exceeding thirty (30) consecutive days, either Party may terminate this Agreement upon written notice to the other Party without further liability.

 

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(e)Notices. All notices, requests, demands, consents, approvals, and other communications required or permitted under this Agreement shall be in writing and shall be deemed duly given: (i) upon delivery, if delivered by hand; (ii) one (1) business day after deposit with a nationally recognized overnight courier, addressed to the receiving Party at the address set forth below (or such other address as a Party may designate by notice given in accordance with this Section); or (iii) upon confirmed transmission, if sent by email with acknowledgment of receipt, provided that a copy is concurrently sent by one of the methods described above.

 

Notices

 

If to Service Provider:

 

RAD Technologies, Inc.

1974 Clarkia St

Simi Valley CA 90065

Email:

 

If to Client:

 

Altivera Vision Inc.

 

Email:

 

(f)Severability. If any provision of this Agreement is held by a court or arbitrator of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be modified to the minimum extent necessary to make it enforceable, or if it cannot be so modified, it shall be severed from this Agreement, and the remaining provisions of this Agreement shall continue in full force and effect.

 

(g)Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument. Electronic signatures and signatures transmitted by PDF or other electronic means shall be deemed valid and binding to the same extent as original signatures.

 

(h)No Third-Party Beneficiaries. This Agreement is entered into for the sole benefit of the Parties and their respective permitted successors and assigns. Nothing in this Agreement shall create or be deemed to create any rights in any third party.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

SERVICE PROVIDER   CLIENT
         
RAD Technologies, Inc.   Altivera Vision Inc.
                   
By     By  
Name:     Name:  
Title:     Title:  
Date:     Date:  

 

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SCHEDULE A

 

DESCRIPTION OF SERVICES

 

This Schedule A is attached to and incorporated into the Managed Services Agreement dated August 14, 2026 (the “Agreement”), by and between RAD Technologies, Inc. (“Service Provider”) and Altivera Vision, Inc. (“Client”).

 

The Service Provider shall provide the following Services to the Client and any Designated Affiliate:

 

(1) Accounting and bookkeeping support, including maintenance of the books and records, transaction processing, accounts payable and receivable administration, and preparation of periodic management accounts.

 

(2) Human resources support, including onboarding and offboarding, maintenance of personnel records, benefits administration support, and policy and handbook maintenance.

 

(3) Information technology support, including provisioning and administration of productivity and collaboration accounts, device and access administration, and general end-user support; provided that the Platform and any other software licensed under the Software License Agreement are excluded from the Services and are governed solely by that agreement.

 

(4) Broad-level strategic and executive management support, including corporate development support, financial planning and analysis, and general executive oversight.

 

The scope, frequency, and service levels applicable to each of the foregoing may be further described, and additional Services added or existing Services Removed, by mutual written agreement of the Parties in accordance with Section 3.

 

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SCHEDULE B

 

FEES AND CHARGES

 

This Schedule B is attached to and incorporated into the Managed Services Agreement dated August 14, 2026 (the “Agreement”), by and between RAD Technologies, Inc. (“Service Provider”) and Altivera Vision, Inc. (“Client”).

 

1. Direct Service Fee. The Client shall pay a monthly fee equal to the Service Provider’s cost of providing the accounting, human resources, and information technology Services described in items (1) through (3) of Schedule A, plus five percent (5%) of such cost (the “Direct Service Fee”). The Service Provider’s cost shall be determined by reference to a schedule of the resources provided by the Service Provider to the Client (the “Schedule of Resources Provided”), to be mutually agreed by the Parties and updated from time to time, with prorations and allocations of personnel and other costs subject to the mutual agreement of the Parties; provided that the Service Provider may, in its discretion, require a reallocation of such prorations and allocations up to two (2) times in any calendar year. The Parties estimate that the Direct Service Fee will range between $10,000 and $25,000 per month, which estimate is for planning purposes only and does not limit the amounts payable under this item (1).

 

2. Pass-Through Costs. The Client shall reimburse the Service Provider, at cost and without mark-up, for third-party platform and subscription costs incurred by the Service Provider on the Client’s behalf in providing the Services, including human resources information system and accounting platform subscriptions, in each case allocated on a reasonable and consistently applied basis.

 

3. Management Fee. The Client shall pay a management fee equal to one percent (0.75%) of consolidated gross revenues of the Client and its subsidiaries, calculated and payable quarterly in arrears, in consideration of the strategic and executive management support described in item (4) of Schedule A.

 

4. Revenue Threshold. Notwithstanding anything to the contrary in this Schedule B, no Direct Service Fee, Pass-Through Costs, or Management Fee shall accrue or be payable in respect of any period before the consolidated trailing twelve-month gross revenues of the Client and its subsidiaries first equal or exceed $3,000,000 (the “Revenue Threshold”). The Management Fee, Direct Service Fee and the Pass-Through Costs shall commence on the first day of the calendar month following the month in which the Revenue Threshold is first met.

 

5. Invoicing and Payment. The Service Provider shall invoice the Direct Service Fee and Pass-Through Costs monthly in arrears and the Management Fee quarterly in arrears. Payment terms are as set out in Section 4.

 

6. Amendment. The fees set out in this Schedule B may be amended by mutual written agreement of the Parties without amendment of the Agreement, in accordance with Section 4.

 

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ADD EXHB 9 ex6-3.htm ADD EXHB

 

Exhibit 6.3

 

DELAYED DRAW TERM LOAN AND SECURITY AGREEMENT

 

This DELAYED DRAW TERM LOAN AND SECURITY AGREEMENT (this “Agreement”) is dated as of September 1, 2026 (the “Effective Date”) by and between RAD TECHNOLOGIES, INC., a Delaware corporation (“Lender”) and ALTIVERA VISION INC., a Delaware corporation (“Borrower”), along with ALTIVERA VISION MANAGEMENT LLC, a Delaware limited liability company (“Altivera Management”), ALTIVERA VISION HOLDINGS LLC, a Delaware limited liability company (“Altivera Holdings”), ALTIVERA VISION ASC HOLDINGS, LLC, a Delaware limited liability company (“Altivera ASC Holdings”; together with Altivera Management, Altivera Holdings and any Person who may hereafter be joined to this Agreement as a guarantor, each, a “Guarantor”, and collectively, “Guarantor”). The parties, intending to be legally bound, hereby agree as follows:

 

1.LOAN AND PAYMENT TERMS

 

1.1Delayed Draw Term Loan.

 

(a)Facility. Subject to the terms and conditions of this Agreement, Lender shall make available to Borrower a delayed draw term loan in an aggregate principal amount not to exceed Two Million and Five Hundred Thousand and 00/100 Dollars ($2,500,000) (as such amount may be reduced in accordance with this Agreement, the “Commitment”). Borrower may request advances under the Commitment from time to time in one or more tranches (each, an “Advance”), and may borrow and repay under this Agreement; provided, however, that the aggregate outstanding principal balance of all Advances (including capitalized PIK Interest, as applicable) shall not at any time exceed the Commitment. Lender’s Commitment shall automatically be reduced concurrently with and in the principal amount of each Advance made by the Lender.

 

(b)Tranches; Discretion. Borrower acknowledges that the facility is intended to be drawn in tranches, and Borrower shall submit each request for an Advance pursuant to Section 1.2. Notwithstanding any other provision of this Agreement, Lender’s obligation to fund any requested Advance is subject to the conditions set forth in this Agreement and Lender’s receipt of all items reasonably requested in connection with such Advance, including completion of any refresh diligence that Lender reasonably deems appropriate.

 

(c)No Obligation to Increase. Lender shall have no obligation to increase the Commitment, and any increase shall require a written amendment executed by both Parties.

 

(d)Existing Advances; Deemed Initial Advance. Borrower and Lender acknowledge that, prior to the Effective Date, Lender advanced funds to or for the benefit of Borrower (including amounts advanced to or on behalf of any Guarantor), as reflected in the books and records of Lender and Borrower (collectively, the “Existing Advances”). Effective as of the Effective Date, the Existing Advances shall be deemed for all purposes to constitute the initial Advance made under this Agreement on the Effective Date, shall be included in the outstanding principal balance of the Advances, shall reduce the Commitment in accordance with Section 1.1(a), and shall bear interest and otherwise be subject to the terms of this Agreement (including the PIK Interest provisions of Section 1.5) from and after the Effective Date. No Advance Request shall be required in respect of the Existing Advances, and the conditions precedent set forth in Section 2.1 shall be deemed satisfied with respect thereto.

 

 
 

 

1.2Requests for Advances; Funding Mechanics.

 

(a)Advance Request. Borrower shall request each Advance by delivering to Lender a written request substantially in the form attached hereto as Exhibit A (each, an “Advance Request”) no later than 12:00 noon Eastern time at least two (2) Business Days prior to the requested funding date. Each Advance Request shall specify: (i) the amount requested, (ii) the requested funding date, and (iii) a reasonably detailed statement of the intended use of proceeds.

 

(b)Minimum Draw. Each Advance shall be in a minimum amount of $25,000 and in integral multiples of $5,000 thereafter, unless the requested Advance is for the full remaining undrawn amount of the Commitment.

 

(c)Disbursement. Subject to satisfaction of the conditions set forth in this Agreement, Lender shall disburse the amount of any approved Advance by wire transfer of immediately available funds to an account designated by Borrower in the applicable Advance Request (or such other method as the Parties may agree in writing).

 

(d)Evidence of Debt. The Advances, together with all accrued interest, PIK Interest, fees, costs, and other Obligations, shall be evidenced by this Agreement and Borrower’s books and records. At Lender’s request, Borrower shall execute and deliver a delayed draw term loan promissory note evidencing the Obligations on terms consistent with this Agreement (the “Note”).

 

1.3Term; Maturity Date.

 

(a)Term. This Agreement shall remain in effect from the Effective Date through and including the date that is three (3) years after the Effective Date (the “Maturity Date”), unless earlier terminated in accordance with this Agreement.

 

(b)Payment in Full at Maturity. All outstanding Obligations are due and payable in full on the Maturity Date. For the avoidance of doubt, there are no scheduled principal amortization payments prior to the Maturity Date.

 

1.4Use of Proceeds. Borrower shall use the proceeds of the Advances solely for working capital and other general corporate purposes of Borrower and the other Loan Parties and their respective businesses, including by making, or by causing to be made, distributions, dividends, advances, loans, capital contributions, or other transfers of such proceeds to any other Loan Party for the working capital and general corporate purposes of such other Loan Party as permitted by Section 5.7, and not for any personal, family, household, or agricultural purposes.

 

 
 

 

1.5Interest Rate and Computation; PIK Mechanics; Cash Pay Election.

 

(a)Interest Rate. The outstanding principal balance of the Advances shall bear interest from the date of disbursement of each Advance through repayment (whether by acceleration or otherwise) at a rate of nine percent (9.0%) per annum (the “Interest Rate”).

 

(b)PIK Period; Capitalization. For the period beginning on the Effective Date and ending on the date that is twenty-four (24) months after the Effective Date (the “PIK Period”), the aggregate outstanding accrued and unpaid interest in respect of the Advances shall be paid-in-kind by automatically capitalizing, compounding and adding such accrued and unpaid interest to the unpaid principal amount of the Advances (“PIK Interest”) and shall not be payable in cash. On the last day of each calendar quarter occurring during the PIK Period, all accrued and unpaid PIK Interest for such quarter shall be automatically capitalized and added to the outstanding principal balance of the Advances, and thereafter shall bear interest at the Interest Rate as part of the principal balance.

 

(c)Cash Pay Election After PIK Period. At any time after the expiration of the PIK Period, Lender may, in its sole discretion, deliver written notice to Borrower electing that interest shall thereafter be payable in cash (a “Cash Pay Election”). Following a Cash Pay Election: (i) interest accruing after the effective date of such election shall be payable in cash in arrears on the first day of each calendar quarter (or, if such day is not a Business Day, the next Business Day), and (ii) no further PIK Interest shall accrue. For the avoidance of doubt, any PIK Interest capitalized prior to a Cash Pay Election shall remain part of the outstanding principal balance and shall continue to bear interest at the Interest Rate.

 

(d)Default Rate. Immediately upon the occurrence and during the continuation of an Event of Default, the outstanding Obligations shall bear interest at a rate per annum which is five percent (5.0%) above the Interest Rate (the “Default Rate”). To the extent permitted by Applicable Law, interest at the Default Rate shall be payable (or capitalized during any period in which interest is otherwise accruing as PIK Interest) from the date of the Event of Default until the date the default is cured.

 

(e)Interest Computation. Interest shall be computed on the basis of the actual number of days elapsed and a 360-day year. In computing interest, the date of disbursement shall be included and the date of payment shall be excluded.

 

1.6Fees and Lender Expenses.

 

(a)Delayed Draw Term Loan Unused Line Fee. Borrower shall pay to Lender an unused line fee equal to one percent (1.0%) per annum on the Unused Commitment (as defined below) (the “Unused Line Fee”). The Unused Line Fee shall accrue daily from and after the Effective Date and shall be payable quarterly in arrears on the first day of each calendar quarter (or, if such day is not a Business Day, the next Business Day). “Unused Commitment” means, for any day, an amount equal to (i) the Commitment, minus (ii) the outstanding principal balance of all Advances as of such day.

 

 
 

 

(b)Lender Expenses. Borrower shall pay all Lender Expenses incurred through and after the Effective Date, when due (or, if no stated due date, upon demand by Lender). “Lender Expenses” includes all reasonable and documented out-of-pocket fees, costs, and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the negotiation, preparation, execution, administration, collateral perfection, amendment, enforcement, protection of rights, or collection under this Agreement and the other Loan Documents, including in any Insolvency Proceeding.

 

(c)No Rebate. Unless otherwise provided in this Agreement or in a separate writing by Lender, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned by Lender pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Lender’s obligation to make Advances hereunder.

 

1.7Payments; Application of Payments; Debit of Accounts.

 

(a)Payment Mechanics. All payments (including any prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in lawful money of the United States, without setoff, counterclaim, or deduction, before 2:00 p.m. Eastern time on the date when due. Payments received after 2:00 p.m. Eastern time shall be deemed received on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due on the next Business Day, and additional interest and fees, as applicable, shall continue to accrue until paid.

 

(b)Automatic Debit. Lender shall have the right, but not the obligation, to automatically debit the deposit account of Borrower specified in the ACH authorization in effect from time to time (the “ACH Authorization”) in respect of any payment that is due and payable to Lender under this Agreement. Borrower shall execute and deliver an ACH Authorization to Lender upon Lender’s request and shall keep such authorization in effect at all times while any Obligations remain outstanding.

 

(c)Application of Payments. Any payments shall be applied first to unpaid Lender Expenses, then to accrued and unpaid interest, then to outstanding principal (including capitalized PIK Interest).

 

1.8Voluntary Prepayments; Early Repayment Premium.

 

(a)Permitted Prepayments. Borrower shall have the option to prepay the Advances, in full or in part, at any time and from time to time, provided Borrower (i) delivers written notice to Lender of its election to prepay at least three (3) Business Days prior to such prepayment, and (ii) each partial prepayment shall be in an amount of not less than $25,000 (unless the outstanding principal balance is less than such amount, in which case such prepayment shall equal the full outstanding principal balance), together with all accrued but unpaid interest and fees through the date of such prepayment (including interest accruing at the Default Rate, if applicable).

 

 
 

 

(b)Early Repayment Premium. In the event Borrower repays, refinances, prepays, or otherwise satisfies in full all outstanding Obligations prior to the Maturity Date (whether voluntarily, in connection with a transaction, or otherwise, but excluding repayment in full following acceleration after an Event of Default, unless Lender elects in writing to apply this Section), the aggregate amount payable by Borrower on account of the Obligations in connection with such repayment shall equal to the greater of:

 

(i)the outstanding Obligations due and payable at such time (including outstanding principal balance, capitalized PIK Interest, accrued and unpaid interest, fees, and Lender Expenses), but excluding the Early Repayment Premium or

 

(ii)

an amount equal to one hundred and five percent (5%) of the aggregate principal amount of all Advances actually funded under this Agreement. The amount, if any, by which the amount described in clause (ii) above exceeds the amount described in clause (i) above is referred to as the “Early Repayment Premium” and shall be due and payable concurrently with such repayment, in addition to the outstanding Obligations described in clause (i) above.

 

For the avoidance of doubt, this Section is intended to ensure that the aggregate amount received by Lender on account of the Obligations in connection with an early takeout of the facility is not less than one hundred five percent (105%) of the aggregate principal amount of all Advances actually funded under this Agreement, and no Early Repayment Premium shall be due if the amount described in clause (i) above equals or exceeds the amount described in clause (ii) above.

 

(c)Application. Any prepayment shall be applied first to unpaid Lender Expenses, then to accrued and unpaid interest, then to outstanding principal (including capitalized PIK Interest).

 

1.9Change in Circumstances. If any Change in Law shall impose any material cost, expense, or burden on Lender in connection with the making, maintaining, or enforcement of the Advances or the security interests contemplated hereby, Borrower shall, upon written request of Lender and to the extent permitted by Applicable Law, promptly pay to Lender such additional amounts as are reasonably necessary to compensate Lender for such increased costs or reductions; provided that Borrower shall not be required to compensate Lender for any increased costs incurred more than nine (9) months prior to the date Lender provides notice of such Change in Law (except to the extent such Change in Law is retroactive).

 

1.10Taxes.

 

(a)Payments Free of Taxes. Any and all payments by or on account of any Obligation of Borrower under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by Applicable Law. If Borrower is required by Applicable Law to deduct or withhold any Tax from any payment, then (i) Borrower shall timely pay the full amount deducted or withheld to the relevant Governmental Authority, and (ii) the sum payable by Borrower shall be increased as necessary so that after such deduction or withholding has been made, Lender receives an amount equal to the sum it would have received had no such deduction or withholding been made (other than Taxes imposed on Lender’s net income).

 

(b)Tax Cooperation. Each Party shall reasonably cooperate with the other to reduce or eliminate any withholding Taxes, including by delivering customary tax forms reasonably requested.

 

 
 

 

2.CONDITIONS OF CREDIT

 

2.1Conditions Precedent to Initial Advance. Lender’s obligation to make the initial Advance is subject to the condition precedent that Lender shall have received, in form and substance satisfactory to Lender, such documents and completion of such other matters as Lender may reasonably deem necessary or appropriate, including without limitation:

 

(a)Loan Documents. This Agreement and each other Loan Document, duly executed by Borrower (and any other obligor party thereto);

 

(b)Organizational Documents; Good Standing. Borrower’s organizational documents and a good standing certificate of Borrower from the Delaware Secretary of State dated no earlier than thirty (30) days prior to the Effective Date;

 

(c)Authorizing Resolutions; Incumbency. A certificate executed by Borrower’s secretary or other authorized officer certifying (i) the resolutions of Borrower authorizing the execution, delivery, and performance of the Loan Documents, (ii) incumbency and specimen signatures of authorized signers, and (iii) the organizational documents then in effect;

 

(d)Collateral Deliverables. Evidence satisfactory to Lender that Lender has a perfected first-priority security interest in the Collateral, including filed UCC financing statements and such other filings or control agreements as Lender may reasonably request consistent with this Agreement;

 

(e)ACH Authorization. A duly executed ACH Authorization (if requested);

 

(f)Advance Request. A duly executed Advance Request;

 

(g)Due Diligence. Satisfactory completion of due diligence by Lender;

 

(h)No Default. The representations and warranties in this Agreement shall be true and correct in all material respects as of the Effective Date (with customary materiality qualifier mechanics), and no Default or Event of Default shall have occurred and be continuing or result from the making of the initial Advance; and

 

(i)No Material Adverse Effect. No Material Adverse Effect shall have occurred and be continuing.

 

 
 

 

2.2Conditions Precedent to Each Subsequent Advance. Lender’s obligation to make each subsequent Advance is subject to the satisfaction (or waiver in writing by Lender) of the following conditions precedent:

 

(a)Lender shall have received a duly executed Advance Request in accordance with Section 1.2;

 

(b)The representations and warranties of Borrower contained in this Agreement and the other Loan Documents shall be true and correct in all material respects as of the date of such Advance (except those expressly referring to an earlier date);

 

(c)No Default or Event of Default shall have occurred and be continuing or would result from the making of such Advance; and

 

(d)No Material Adverse Effect shall have occurred and be continuing.

 

2.3Covenant to Deliver; No Waiver. Borrower shall deliver to Lender each item required to be delivered to Lender under this Agreement as a condition precedent to the making of any Advance. The making of any Advance or disbursement of proceeds prior to receipt by Lender of any required item shall not constitute a waiver by Lender of Borrower’s obligation to deliver such item, and any such funding in the absence of a required item shall be in Lender’s sole discretion.

 

3.REPRESENTATIONS AND WARRANTIES. Each Loan Party represents and warrants as follows (each representation and warranty being made as of the Effective Date and, unless otherwise stated, as of each date an Advance is made):

 

3.1Due Organization; Authorization; Power and Authority.

 

(a)Each Loan Party is duly organized, validly existing, and in good standing under the laws of the State of Delaware and is qualified and licensed to do business and is in good standing in each jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified, except where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect.

 

(b)The execution, delivery and performance by each Loan Party of the Loan Documents to which it is a party have been duly authorized and do not (i) conflict with each Loan Party’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any Applicable Law, (iii) contravene, conflict with or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which each Loan Party or any of its property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or governmental approval from, any Governmental Authority, except such governmental approvals as have been obtained and are in full force and effect, or (v) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material agreement by which each Loan Party is bound, except in each case where the foregoing could not reasonably be expected to have a Material Adverse Effect.

 

3.2Binding Obligation. Each Loan Document to which each Loan Party is a party constitutes the legal, valid, and binding obligation of each Loan Party, enforceable against each Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, and other laws affecting creditors’ rights generally and to general principles of equity.

 

 
 

 

3.3Name; Location of Chief Executive Office. Except for a period of time in which Altivera Vision, Inc. operated under the name VisAI Partners, Inc, each Loan Party has not done business under any name other than its legal name as set forth on the signature page. Each Loan Party’s chief executive office and principal place of business are located at the address indicated in Section 9.

 

3.4Litigation. There are no actions, suits, investigations, arbitrations, or proceedings pending (or, to Loan Parties’ knowledge, threatened) by or against Loan Parties before any court, administrative agency, or arbitrator in which a likely adverse decision could reasonably be expected to have a Material Adverse Effect.

 

3.5Financial Condition; No Material Deterioration. All financial statements of Loan Parties delivered to Lender (if any) fairly present in all material respects Loan Parties’ financial condition and results of operations as of, and for the periods covered thereby, subject, in the case of unaudited financial statements, to normal year-end adjustments and the absence of footnote disclosures. There has not been any material deterioration in Loan Parties’ financial condition since the date of the most recent financial statements delivered to Lender, except as disclosed to Lender in writing.

 

3.6Compliance with Laws. Loan Parties have complied in all material respects with all Applicable Law, and Loan Parties have not violated any Applicable Law, the violation of which could reasonably be expected to have a Material Adverse Effect.

 

3.7Title to Collateral; Liens. Each Loan Party has good and marketable title to (or valid rights in) the Collateral and each material portion thereof, free and clear of all Liens, except Permitted Liens. No financing statement or similar instrument is on file in any jurisdiction that would perfect a security interest in favor of any Person other than Lender with respect to any material portion of the Collateral, except in connection with Permitted Liens.

 

3.8Full Disclosure. No representation, warranty, or other statement made by Loan Parties in any Loan Document or in any certificate or written statement furnished to Lender in connection with this Agreement, when taken as a whole, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.

 

4.AFFIRMATIVE COVENANTS. Each Loan Party shall do all of the following, unless Lender otherwise consents in writing:

 

4.1Use of Proceeds. Use the proceeds of the Advances only as permitted by Section 1.4.

 

 
 

 

4.2Good Standing; Government Compliance.

 

(a)Maintain its legal existence and good standing in Delaware and maintain qualification in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect.

 

(b)Comply in all material respects with all Applicable Law, and maintain in force all material licenses, approvals, and permits required for the conduct of its business, except where failure to do so could not reasonably be expected to have a Material Adverse Effect.

 

4.3Financial Statements; Reports. Each Loan Party shall deliver to Lender:

 

(a)Annual Financial Statements. As soon as available, and in any event within one hundred twenty (120) days after the end of each fiscal year, annual financial statements (balance sheet, income statement, and cash flows) for Loan Parties, prepared in accordance with GAAP and certified by a Responsible Officer; provided that Loan Parties shall deliver reviewed or audited statements only if reasonably requested by Lender based on Borrower’s size, financing plans, or a pending transaction.

 

(b)Notice of Default. Promptly upon becoming aware of the occurrence of any Default or Event of Default, a written statement of a Responsible Officer setting forth details of such Default or Event of Default and the action Loan Parties have taken or proposes to take with respect thereto.

 

(c)Other Information. Promptly such other readily accessible and reasonable information respecting Loan Parties’ financial condition or business operations as Lender may reasonably request from time to time.

 

4.4Taxes. Timely file (or obtain extensions for) all required tax returns and timely pay all material Taxes, assessments, and governmental charges, except for Taxes contested in good faith by appropriate proceedings and for which Loan Parties maintain adequate reserves in accordance with GAAP.

 

4.5Access to Books and Records. Lender (through any of its officers, employees, or agents) shall have the right, upon reasonable prior notice and during a Loan Party’s usual business hours, to inspect such Loan Party’s books and records and to discuss such Loan Party’s affairs with such Loan Party’s officers, in each case no more than once per year unless an Event of Default has occurred and is continuing.

 

4.6Insurance. Maintain insurance coverage for risks and in amounts customary for similarly situated companies in Loan Parties’ industry and location, and, upon request, provide Lender with certificates of insurance evidencing such coverage.

 

4.7Protection of Collateral; Intellectual Property. Protect, defend, and maintain the validity and enforceability of Loan Parties’ Intellectual Property in all material respects, except where failure to do so could not reasonably be expected to have a Material Adverse Effect. Loan Parties shall promptly advise Lender in writing of any material infringement or claim that could reasonably be expected to materially and adversely affect the value of Loan Parties’ Intellectual Property or the Collateral.

 

 
 

 

4.8Further Assurances. From time to time, at Loan Parties’ expense, execute and deliver such further instruments and take such further actions as Lender may reasonably request to effect the purposes of this Agreement and to perfect, continue, and protect Lender’s Liens on the Collateral, including executing control agreements, IP security agreements, and other customary collateral documentation.

 

5.NEGATIVE COVENANTS. Each Loan Party shall not do any of the following without Lender’s prior written consent:

 

5.1Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of all or any material part of its assets, other than (a) dispositions of inventory or obsolete equipment in the ordinary course of business, and (b) non-exclusive licenses of Intellectual Property in the ordinary course of business that do not materially impair the value of such Intellectual Property.

 

5.2Changes in Business; Organizational Changes.

 

(a)Engage in any business other than the business currently conducted by Loan Parties and activities reasonably related or incidental thereto.

 

(b)Liquidate or dissolve.

 

(c)Change its jurisdiction of organization, organizational structure or type, or legal name without at least thirty (30) days’ prior written notice to Lender and completion of such filings and deliverables as Lender reasonably requests to maintain perfection of its Liens.

 

5.3Mergers. Merge or consolidate with any other Person or sell all or substantially all of the assets or Equity Interests of itself, except for transactions in the ordinary course of business that (i) do not, individually or in the aggregate, exceed $100,000 in any fiscal year, (ii) do not result in a Material Adverse Effect, and (iii) do not impair Lender’s security interests.

 

5.4Indebtedness. Create, incur, assume, guarantee, or be or remain liable for any Indebtedness other than (a) Indebtedness to Lender under this Agreement and the other Loan Documents, (b) unsecured trade payables incurred in the ordinary course of business and (c) Indebtedness of any Loan Party owing to any other Loan Party arising from any advance, loan, capital contribution, or other transfer permitted by Section 5.7, in each case for so long as each of the obligor and the obligee thereon is and remains a Loan Party.

 

5.5Liens. Create, incur, assume, or permit to exist any Lien with respect to any of its property, except Permitted Liens.

 

5.6Investments. Make any Investment in or to any Person other than (a) Investments in Cash Equivalents, (b) other Investments not exceeding $100,000 in the aggregate at any time outstanding, and (c) Investments by any Loan Party in any other Loan Party consisting of advances, loans, capital contributions, or other transfers permitted by Section 5.7, in each case for so long as the Person in which such Investment is made is and remains a Loan Party, in each case so long as no Default or Event of Default has occurred and is continuing.

 

 
 

 

5.7Distributions. Declare or pay any dividends or make any other distribution or payment on account of any Equity Interests; provided, however, that (a) any Loan Party may make distributions, dividends, advances, loans, capital contributions, or other transfers of cash or other property to any other Loan Party, including out of the proceeds of any Advance and including for the working capital and general corporate purposes of such other Loan Party, in each case for so long as such other Loan Party is and remains a Loan Party, and (b) Loan Parties may make tax distributions to equity holders in an amount not to exceed the aggregate federal, state, and local income tax liability attributable to such equity holders’ ownership of Loan Parties (if applicable).

 

5.8Transactions with Affiliates. Enter into or permit to exist any material transaction with any Affiliate of Loan Parties, except transactions in the ordinary course of business on fair and reasonable terms that are no less favorable to Loan Parties than would be obtained in an arm’s-length transaction with a non-affiliated Person, and except transactions solely among Loan Parties that are permitted by Section 5.4, Section 5.6, or Section 5.7.

 

5.9Amendments to Organizational Documents. Amend, alter, repeal, or otherwise modify any provision of any Loan Party’s organizational documents in a manner that would materially and adversely affect Lender’s rights hereunder or Loan Parties’ ability to repay the Obligations.

 

6.GUARANTY

 

6.1The Guaranty. Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided, that the liability of each Guarantor individually with respect to this guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. Lender’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Obligations. This guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Obligations or any instrument or agreement evidencing any Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

 

 
 

 

6.2Rights of Lender. Each Guarantor consents and agrees that the holder of the Obligations may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this guaranty or any Obligations; (c) apply such security and direct the order or manner of sale thereof as Lender in its sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Obligations. Without limiting the generality of the foregoing, each Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this guaranty or which, but for this provision, might operate as a discharge of such Guarantor.

 

6.3Certain Waivers. Each Guarantor waives (a) any defense arising by reason of any disability or other defense of Borrower or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any holder of Obligations) of the liability of Borrower or any other Loan Party; (b) any defense based on any claim that such Guarantor’s obligations exceed or are more burdensome than those of Borrower or any other Loan Party; (c) the benefit of any statute of limitations affecting any Guarantor’s liability hereunder; (d) any right to proceed against Borrower or any other Loan Party, proceed against or exhaust any security for the Obligations, or pursue any other remedy in the power of any holder of Obligations whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by any holder of Obligations; and (f) to the fullest extent permitted by law, any and all other defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties. Each Guarantor expressly waives all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Obligations, and all notices of acceptance of this guaranty or of the existence, creation or incurrence of new or additional Obligations.

 

6.4Obligations Independent. The obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are independent of the Obligations and the obligations of any other guarantor, and a separate action may be brought against each Guarantor to enforce this guaranty whether or not Borrower or any other person or entity is joined as a party.

 

6.5Subrogation. No Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this guaranty until all of the Obligations and any amounts payable under this guaranty have been indefeasibly paid and performed in full. If any amounts are paid to a Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the holders of the Obligations and shall forthwith be paid to the holders of the Obligations to reduce the amount of the Obligations, whether matured or unmatured.

 

 
 

 

6.6Termination; Reinstatement. This guaranty is a continuing and irrevocable guaranty of all Obligations now or hereafter existing and shall remain in full force and effect until the maturity date of the Obligations hereunder. Notwithstanding the foregoing, this guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of Borrower or a Guarantor is made, or any of the holders of the Obligations exercises its right of setoff, in respect of the Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by any of the holders of the Obligations in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the holders of the Obligations are in possession of or have released this guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of each Guarantor under this Section shall survive termination of this guaranty.

 

6.7Stay of Acceleration. If acceleration of the time for payment of any of the Obligations is stayed, in connection with any case commenced by or against a Guarantor or Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by each Guarantor, jointly and severally, immediately upon demand by the holders of the Obligations.

 

6.8Condition of Borrower. Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from Borrower and each other guarantor such information concerning the financial condition, business and operations of Borrower and each such other guarantor as such Guarantor requires, and that none of the holders of the Obligations has any duty, and such Guarantor is not relying on the holders of the Obligations at any time, to disclose to it any information relating to the business, operations or financial condition of Borrower or each other guarantor (each Guarantor waiving any duty on the part of the holders of the Obligations to disclose such information and any defense relating to the failure to provide the same).

 

7.EVENTS OF DEFAULT. Any one of the following shall constitute an “Event of Default” under this Agreement:

 

7.1Payment Default. Borrower fails to make any payment of principal, interest (including, after a Cash Pay Election, cash interest), Unused Line Fee, Lender Expenses, Early Repayment Premium (if applicable), or any other Obligation when due, and such failure continues for five (5) Business Days after such payment is due; provided that no grace period shall apply to payments due on the Maturity Date or upon acceleration.

 

7.2Covenant Default.

 

(a)Any Loan Party fails to perform or observe any covenant, obligation, or agreement contained in Sections 4.1, 4.2, 4.3, 4.4, 4.8 or Article 5, and such failure continues uncured for ten (10) Business Days after such Loan Party receives written notice thereof from Lender; or

 

(b)Any Loan Party fails to perform or observe any other covenant, obligation, or agreement contained in this Agreement or any other Loan Document, and such failure continues uncured for thirty (30) days after such Loan Party receives written notice thereof from Lender.

 

 
 

 

7.3Misrepresentations. Any representation, warranty, or other statement made by any Loan Party in this Agreement, any other Loan Document, or in any certificate or writing delivered to Lender in connection herewith is untrue or misleading in any material respect when made (or deemed made).

 

7.4Insolvency.

 

(a)Any Loan Party is unable to pay its debts as they become due, admits in writing its inability to pay its debts as they become due, or becomes insolvent; or

 

(b)Any Loan Party (i) begins an Insolvency Proceeding, (ii) makes an assignment for the benefit of creditors, or (iii) applies for or consents to the appointment of any receiver, trustee, custodian, or similar official for such Loan Party or any substantial part of its assets; or

 

(c)An Insolvency Proceeding is commenced against any Loan Party or a receiver, trustee, custodian, or similar official is appointed for such Loan Party or any substantial part of its assets, and in either case is not dismissed or stayed within thirty (30) days.

 

7.5Attachment; Levy; Restraint.

 

(a)Any material portion of any Loan Party’s assets is attached, seized, levied upon, or comes into possession of a trustee or receiver, and is not discharged or stayed within fifteen (15) days; or

 

(b)Any court order enjoins, restrains, or prevents any Loan Party from conducting all or any material part of its business, and such order remains in effect for fifteen (15) days.

 

7.6Judgments. One or more final judgments, orders, or decrees for the payment of money in an amount, individually or in the aggregate, of at least $100,000 (to the extent not covered by independent third-party insurance as to which liability has been accepted by such insurer) shall be rendered against any Loan Party and shall remain unpaid, undischarged, unbonded, and unstayed for thirty (30) days after entry.

 

7.7Material Adverse Effect. A Material Adverse Effect occurs.

 

 
 

 

8.LENDER’S RIGHTS AND REMEDIES

 

8.1Rights and Remedies Generally. Upon the occurrence and during the continuation of an Event of Default, Lender may, without notice or demand (except as required by Applicable Law), do any or all of the following:

 

(a)Acceleration. Declare all Obligations immediately due and payable; provided that, if an Event of Default under Section 7.4 occurs, all Obligations shall automatically become immediately due and payable without any action by Lender;

 

(b)Termination of Further Advances. Terminate or suspend Lender’s obligation to make Advances and/or reduce the Commitment to zero;

 

(c)Exercise Remedies. Exercise all rights and remedies available to Lender under this Agreement, the other Loan Documents, and Applicable Law, including all remedies provided under the UCC, including the right to take possession of the Collateral and to sell, lease, license, or otherwise dispose of the Collateral;

 

(d)Setoff. Set off and apply any deposits, balances, or other amounts owing by Lender or any Affiliate of Lender to Loan Parties against the Obligations, to the extent permitted by Applicable Law; and

 

(e)Protective Advances. Make such payments and take such actions as Lender deems necessary or appropriate to protect, preserve, or maintain the Collateral or Lender’s Liens, and all amounts paid or incurred by Lender in connection therewith shall constitute Obligations and shall bear interest at the Default Rate from the date paid or incurred.

 

8.2UCC and Collateral Disposition.

 

(a)Disposition. Lender may sell, lease, license, or otherwise dispose of all or any part of the Collateral at public or private sale, with or without having the Collateral at the place of sale, and at such time or times and upon such terms as Lender deems commercially reasonable. Each Loan Party acknowledges that the Collateral may be of a type that is customarily sold on a recognized market or the subject of widely distributed standard price quotations, and Lender may dispose of such Collateral in any commercially reasonable manner consistent with the UCC.

 

(b)Commercial Reasonableness. Each Loan Party agrees that ten (10) days’ prior written notice of any intended disposition of Collateral shall be reasonable notice under the UCC; provided that Lender may provide a shorter period if permitted by Applicable Law or if Collateral is perishable or threatens to decline speedily in value.

 

(c)Application of Proceeds. Proceeds of any disposition shall be applied (i) first, to the costs and expenses of disposition, including reasonable attorneys’ fees and costs, (ii) second, to accrued and unpaid interest, fees, and other amounts due, and (iii) third, to principal (including capitalized PIK Interest), and (iv) any surplus, to Borrower or as otherwise required by Applicable Law.

 

8.3No Waiver; Remedies Cumulative. Lender’s failure at any time to require strict performance by any Loan Party of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Lender thereafter to demand strict performance and compliance. No waiver shall be effective unless in writing and signed by the Party granting the waiver, and then only for the specific instance and purpose for which it is given. All rights and remedies are cumulative and may be exercised singularly or concurrently.

 

 
 

 

8.4Demand Waiver. Except as expressly required by this Agreement, each Loan Party waives demand, notice of default, notice of dishonor, notice of payment and nonpayment, notice of acceleration, presentment, protest, and all other notices to which Loan Parties might otherwise be entitled, to the fullest extent permitted by Applicable Law.

 

9.SECURITY INTEREST; COLLATERAL; PERFECTION

 

9.1Grant of Security Interest. As security for the prompt payment and performance of all Obligations, each Loan Party hereby grants to Lender a continuing security interest in, and lien upon, and right of setoff against, all right, title, and interest of Loan Parties in and to all personal property of Loan Parties, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof (collectively, the “Collateral”), including without limitation, all of the following:

 

(a)all Accounts, Chattel Paper, Commercial Tort Claims (to the extent permitted by Applicable Law), Deposit Accounts, Documents, Equipment, Farm Products, General Intangibles (including Intellectual Property), Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Money, Payment Intangibles, Software, Supporting Obligations, and any and all other property that may be subject to a security interest under Article 9 of the UCC as in effect from time to time;

 

(b)all Books and Records (including Loan Parties’ ledgers, financial records, customer lists, and computer programs, source code repositories to the extent permitted by Applicable Law, and media containing any of the foregoing);

 

(c)all present and future rights to payment, rents, royalties, revenues, income, and other proceeds relating to any of the foregoing; and

 

(d)all proceeds (including insurance proceeds and condemnation awards), products, accessions, substitutions, replacements, additions, improvements, and renewals of any of the foregoing.

 

9.2Excluded Property. Notwithstanding Section 9.1, Collateral shall not include (a) any property to the extent the grant of a security interest therein is prohibited by Applicable Law or requires consent that has not been obtained and cannot be obtained using commercially reasonable efforts; provided, however, that such exclusion shall not apply to the extent that such prohibition would be ineffective under the UCC or other Applicable Law, and (b) any “intent-to-use” trademark applications to the extent, and only to the extent, that the grant of a security interest therein would impair the validity of such application under Applicable Law; provided, however, that such Collateral shall automatically be included once such impairment no longer applies (including upon filing an amendment to allege use or statement of use).

 

 
 

 

9.3After-Acquired Property; Proceeds. The security interest granted herein shall include after-acquired property and shall attach to all proceeds of Collateral, whether constituting cash proceeds or non-cash proceeds, and whether arising before or after an Event of Default.

 

9.4Perfection; Filings; Control.

 

(a)UCC Filings. Each Loan Party authorizes Lender to file financing statements and amendments, and other records, in any jurisdictions and offices that Lender deems necessary or desirable to perfect or maintain perfection of its security interest in the Collateral. Each Loan Party agrees to provide Lender with such descriptions of the Collateral and other information as Lender may reasonably request to facilitate such filings.

 

(b)Deposit and Securities Accounts. Upon Lender’s request, a Loan Party shall cause any Deposit Account or securities account (in each case, to the extent perfection by control is available and customary) to be subject to a control agreement in favor of Lender in form and substance reasonably satisfactory to Lender.

 

(c)Intellectual Property. Upon Lender’s request, a Loan Party shall execute and deliver to Lender an intellectual property security agreement and such other instruments as Lender may reasonably request to evidence and/or perfect Lender’s Liens in such Loan Party’s Intellectual Property (including by filing with the U.S. Patent and Trademark Office and/or U.S. Copyright Office where appropriate), provided that the Parties acknowledge and agree that perfection as to certain Intellectual Property may be achieved by UCC filings, and that Lender may elect to perfect by any legally available method.

 

9.5Representations, Warranties and Covenants Regarding Collateral. Each Loan Party represents, warrants, and covenants that:

 

(a)Title; First Priority. Each Loan Party owns the Collateral free and clear of all Liens other than Permitted Liens, and the security interest granted to Lender is, or upon perfection will be, a valid, perfected security interest in the Collateral, having first priority (subject only to Permitted Liens that have priority by operation of law).

 

(b)Location; Name. Each Loan Party’s legal name is as set forth in this Agreement, and Loan Parties shall not change its legal name, jurisdiction of organization, or chief executive office location without providing Lender at least thirty (30) days’ prior written notice and taking such actions as Lender reasonably requests to maintain the perfection and priority of Lender’s security interest.

 

(c)Preservation. Loan Parties shall preserve, protect, and maintain the Collateral in good order and condition (ordinary wear and tear excepted), and shall not permit waste or material impairment of the Collateral.

 

(d)Insurance Proceeds. All insurance proceeds relating to the Collateral shall constitute proceeds of Collateral. Upon an Event of Default, Lender may apply such proceeds to the Obligations in accordance with Section 8.2(c), to the extent permitted by Applicable Law.

 

 
 

 

9.6Liens. “Permitted Liens” means:

 

(a)Liens in favor of Lender securing the Obligations;

 

(b)Liens for Taxes, assessments, or governmental charges not yet due and payable or being contested in good faith by appropriate proceedings and for which each Loan Party maintains adequate reserves in accordance with GAAP;

 

(c)Liens of carriers, warehousemen, mechanics, and other Persons that are possessory in nature arising in the ordinary course of business and not delinquent or being contested in good faith; and

 

(d)other Liens expressly approved in writing by Lender.

 

9.7Power of Attorney. Each Loan Party hereby irrevocably appoints Lender as Loan Parties’ attorney-in-fact (such appointment being coupled with an interest) solely for the purpose, upon the occurrence and during the continuation of an Event of Default, of taking any action that Lender deems necessary or appropriate to perfect, maintain, or enforce Lender’s rights in the Collateral, including executing and filing financing statements, endorsements, assignments, or similar documents. Lender shall have no duty to exercise such power, and Loan Parties shall indemnify Lender for any actions taken in good faith pursuant to this Section to the fullest extent permitted by Applicable Law.

 

9.8NOTICES. All notices, consents, requests, approvals, demands, or other communication by any Party to this Agreement must be in writing and shall be deemed to have been validly served, given, or delivered: (i) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (ii) upon transmission, when sent by electronic mail; (iii) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid for next day or delivery; or (iv) when delivered, if hand-delivered by messenger, all of which shall be addressed to the Party to be notified and sent to the address or email address indicated below; provided that, for clause (ii), if such communication is not sent during the normal business hours of the recipient, it shall be deemed to have been sent at the opening of business on the next Business Day of the recipient.

 

If to Borrower and other Loan Parties:

 

Altivera Vision Inc.

8 The Green Ste B,

Dover, Kent County, Delaware 19901

Attn: Jeffrey Machat, CEO

Email:

 

If to Lender:

 

RAD Technologies, Inc.

Attn: Jeremy Barnett, CEO

Email:

 

Either Party may change its address by giving the other Party notice in accordance with this Section.

 

11.GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL

 

11.1Governing Law. This Agreement and the other Loan Documents shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of law that would require the application of the laws of another jurisdiction.

 

11.2Jurisdiction and Venue. Each Party irrevocably and unconditionally submits to the exclusive jurisdiction of the state and federal courts located in the State of Delaware for any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby; provided, however, that nothing herein shall preclude Lender from bringing suit or taking other legal action in any other jurisdiction to enforce its security interest in the Collateral or to enforce a judgment.

 

11.3Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER LOAN DOCUMENTS, OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY, AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS HAD THE OPPORTUNITY TO REVIEW THIS WAIVER WITH COUNSEL. This Section shall survive the termination of this Agreement and the repayment of all Obligations.

 

12.GENERAL PROVISIONS; DEFINITIONS AND INTERPRETATION

 

12.1Successors and Assigns. This Agreement binds and inures to the benefit of the successors and permitted assigns of each Party. Each Loan Party may not assign or transfer this Agreement or any rights or obligations hereunder without Lender’s prior written consent, and any attempted assignment without such consent is void. Lender may assign this Agreement to any Person upon written notice to Borrower.

 

12.2Amendments; Waivers; Integration. No amendment, modification, or waiver of any provision of this Agreement or any other Loan Document shall be effective unless in writing and signed by each Party against whom enforcement is sought. The Loan Documents constitute the entire agreement among the Parties with respect to the subject matter hereof and supersede all prior and contemporaneous negotiations, understandings, and agreements.

 

12.3Counterparts; Electronic Signatures. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together constitute one instrument. Delivery of an executed signature page by electronic transmission shall be effective as delivery of a manually executed counterpart. The Parties agree that electronic signatures shall be valid and binding to the fullest extent permitted by Applicable Law.

 

 
 

 

12.4Confidentiality. Each Party shall keep confidential the terms of this Agreement and any nonpublic information received from the other Party in connection herewith, except to the extent disclosure is required by Applicable Law, to accountants, auditors, attorneys, financing sources, prospective investors, or other Representatives who are subject to confidentiality obligations, or as necessary to enforce rights under the Loan Documents.

 

12.5Indemnification; Limitation of Liability.

 

(a)Indemnification. Each Loan Party shall indemnify, defend, and hold harmless Lender and its Affiliates and each of their respective directors, officers, employees, agents, and Representatives (each, an “Indemnified Person”) from and against any and all losses, claims, damages, liabilities, and reasonable out-of-pocket expenses (including reasonable attorneys’ fees) arising out of or relating to (i) the execution, delivery, performance, or enforcement of any Loan Document, (ii) the Advances or the use of proceeds thereof, or (iii) any claim by a third party relating to the Collateral; provided that such indemnity shall not be available to the extent such losses are determined by a final, nonappealable judgment of a court of competent jurisdiction to have resulted from the fraud, gross negligence, or willful misconduct of such Indemnified Person.

 

(b)Waiver of Consequential Damages. To the fullest extent permitted by Applicable Law, neither Party shall be liable to the other for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of or relating to this Agreement, except to the extent such damages are included in a third-party claim subject to indemnification obligations.

 

This Section shall survive the termination of this Agreement and repayment of the Obligations.

 

12.6Severability. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect, and the invalid or unenforceable provision shall be enforced to the maximum extent permissible so as to effect the intent of the Parties.

 

12.7Time of Essence. Time is of the essence for the performance of all obligations under the Loan Documents.

 

12.8Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below:

 

“ACH Authorization” has the meaning set forth in Section 1.7(b).

 

“Advance” has the meaning set forth in Section 1.1(a).

 

 
 

 

“Advance Request” has the meaning set forth in Section 1.2(a).

 

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with such Person.

 

“Applicable Law” means all applicable laws, statutes, ordinances, rules, regulations, permits, licenses, approvals, interpretations, and orders of courts or Governmental Authorities.

 

“Books and Records” means all books and records of Loan Parties, including ledgers, accounting records, tax returns, records regarding assets or liabilities, business operations or financial condition, and all media containing any of the foregoing.

 

“Business Day” means a day other than a Saturday, Sunday, or other day on which commercial banks in Delaware are authorized or required by law to close.

 

“Cash Equivalents” means cash, cash equivalents, and highly liquid investments with maturities of not more than one (1) year.

 

“Cash Pay Election” has the meaning set forth in Section 1.5(c).

 

“Change in Law” means the occurrence, after the Effective Date, of (i) the adoption or taking effect of any law, rule, regulation or treaty, (ii) any change in Applicable Law or in the administration, interpretation, or application thereof by any Governmental Authority, or (iii) the making or issuance of any request, rule, guideline, or directive by any Governmental Authority, whether or not having the force of law.

 

“Collateral” has the meaning set forth in Section 9.1.

 

“Commitment” has the meaning set forth in Section 1.1(a).

 

“Contingent Obligation” means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to or otherwise to invest in a debtor, or otherwise to assure a creditor against loss) any indebtedness, obligation or other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation in respect of any Contingent Obligation shall (subject to any limitation set forth therein) be deemed to be the principal amount of the debt, obligation or other liability supported thereby, or, if not a fixed and determined amount, the maximum reasonably anticipated liability in respect thereof as determined in good faith by the Person providing the guarantee or support.

 

“Default” means any event which, with notice or the passage of time or both, would constitute an Event of Default.

 

“Default Rate” has the meaning set forth in Section 1.5(d).

 

 
 

 

“Early Repayment Premium” has the meaning set forth in Section 1.8(b).

 

“Equity Interests” means, with respect to any Person, the capital stock or other equity ownership interests of such Person, and any securities convertible into or exercisable for such interests.

 

“Event of Default” has the meaning set forth in Article 7.

 

“Governmental Authority” means any federal, state, local, or foreign government or governmental authority, agency, court, tribunal, or regulatory body.

 

“Indebtedness” means (i) indebtedness for borrowed money, (ii) obligations evidenced by notes or similar instruments, (iii) obligations under letters of credit, and (iv) Contingent Obligations.

 

“Insolvency Proceeding” means any proceeding by or against any Person under any bankruptcy, insolvency, reorganization, receivership, or similar law, including assignments for the benefit of creditors.

 

“Intellectual Property” means all rights of each Loan Party in and to copyrights, patents, trademarks, service marks, trade names, domain names, trade secrets, know-how, software (including source code to the extent permitted by Applicable Law), and all related registrations and applications.

 

“Lien” means a mortgage, deed of trust, pledge, security interest, encumbrance, charge, levy, attachment, or other similar lien.

 

“Loan Documents” means this Agreement, the Note (if executed), the ACH Authorization (if executed), all UCC financing statements, control agreements, security agreements, and other certificates, notices, exhibits, or other documents delivered in connection with this Agreement, in each case as amended from time to time.

 

“Loan Party” means Borrower and each Guarantor.

 

“Material Adverse Effect” means (i) a material adverse change in the business, operations, or condition (financial or otherwise) of Loan Parties, or (ii) a material impairment of the prospect of repayment of the Obligations or the enforceability or priority of Lender’s Liens.

 

“Maturity Date” has the meaning set forth in Section 1.3(a).

 

“Note” has the meaning set forth in Section 1.2(d).

 

“Obligations” means all obligations of Borrower to Lender now or hereafter existing under or in connection with any Loan Document, including principal (including capitalized PIK Interest), interest, fees, the Early Repayment Premium (if applicable), Lender Expenses, and all other amounts owing, whether direct or indirect, absolute or contingent, matured or unmatured.

 

 
 

 

“Party” or “Parties” has the meaning set forth in the preamble.

 

“Permitted Liens” has the meaning set forth in Section 9.6.

 

“Person” means any individual, corporation, partnership, limited liability company, trust, association, or other entity.

 

“PIK Interest” has the meaning set forth in Section 1.5(b).

 

“PIK Period” has the meaning set forth in Section 1.5(b).

 

“Responsible Officer” means any of the Chief Executive Officer, President, Chief Financial Officer, Treasurer, or other officer of each Loan Party performing a similar function.

 

“Taxes” means all present or future taxes, levies, duties, imposts, deductions, withholdings, assessments, fees, or other charges imposed by any Governmental Authority.

 

“UCC” means the Uniform Commercial Code as in effect in the State of New York (or, if perfection or priority is governed by another jurisdiction, the Uniform Commercial Code as in effect in such jurisdiction).

 

“Unused Line Fee” has the meaning set forth in Section 1.6(a).

 

“Unused Commitment” has the meaning set forth in Section 1.6(a).

 

12.6Other Terms Defined in the UCC.

 

All other capitalized words and phrases used and not otherwise specifically defined herein (including, without limitation, “Accounts”, “Chattel Paper”, “Commercial Tort Claims”, “Deposit Account”, “Document”, “Equipment”, “Farm Products”, “General Intangibles”, “Goods”, “Instrument”, “Inventory”, “Investment Property”, “Letter-of-Credit Right”, “Money”, “Payment Intangibles”, “Supporting Obligations”) shall have the respective meanings assigned to such terms in the UCC, as amended from time to time, to the extent the same are used or defined therein.

 

12.7Interpretation.

 

(a)The words “shall” and “will” are mandatory; “may” is permissive; “or” is not exclusive; “including” is not limiting. The singular includes the plural.

 

(b)References to “Sections” or “Articles” refer to sections or articles of this Agreement.

 

(c)The Parties acknowledge that they and their counsel participated in the drafting of this Agreement, and no provision shall be construed against any Party by reason of authorship.

 

 
 

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the Effective Date.

 

BORROWER:

 

Altivera Vision Inc., a Delaware corporation

 

By:  /s/ Steven Silver 
Name:

Steven Silver

 
Title: CEO  

 

GUARANTORS:

 

Altivera Vision Management, LLC, a Delaware limited liability company

 

By:  /s/ Deon Kibel   
Name: Deon Kibel  
Title: Manager  

 

Altivera Vision Holdings, LLC, a Delaware limited liability company

 

By:   /s/ Deon Kibel   
Name: Deon Kibel  
Title: Manager  

 

Altivera Vision ASC Holdings, LLC, a Delaware limited liability company

 

By:   /s/ Deon Kibel   
Name: Deon Kibel  
Title: Manager  

 

LENDER:

 

RAD TECHNOLOGIES, INC., a Delaware corporation

 

By:   /s/ Jeremy Barnett   
Name: Jeremy Barnett  
Title: CEO  

 

 
 

 

EXHIBIT A

 

FORM OF ADVANCE REQUEST

 

Date: ___________, 20

 

To: RAD Technologies, Inc. (“Lender”)

 

Re: Advance Request under the Delayed Draw Term Loan and Security Agreement dated as of September 1, 2026 (the “Agreement”), by and among Lender, Altivera Vision Inc., a Delaware corporation, as Borrower, and certain other parties party thereto.

 

Reference is made to the Agreement. Capitalized terms used but not defined herein have the meanings given in the Agreement.

 

Borrower hereby requests an Advance in the principal amount of $__________ to be funded on ______________ (the “Funding Date”).

 

Borrower represents and certifies that (i) the representations and warranties in the Agreement and the other Loan Documents are true and correct in all material respects as of the date hereof and as of the Funding Date (except those expressly referring to a specific earlier date), (ii) no Default or Event of Default has occurred and is continuing or would result from the making of the Advance, and (iii) the proceeds will be used for permitted purposes under Section 1.4 of the Agreement.

 

Wire Instructions:

 

Bank:     
     
ABA/Routing:    
     
Account No.:    
     
Account Name:    

 

  Altivera Vision Management LLC
              
  By:  
     
  Name:  
     
  Title:  

 

 

ADD EXHB 10 ex11-1.htm ADD EXHB

 

Exhibit 11.1

 

 

CONSENT OF INDEPENDENT AUDITOR

 

We consent to the use in the Offering Circular constituting a part of this Offering Statement on Form 1-A, as it may be amended, of our Independent Auditor’s Report dated May 20, 2026 relating to the balance sheet of Altivera Vision Inc. as of December 31, 2025, the related statements of operations, changes in stockholder’s equity/(deficit), and cash flows for the period from July 7, 2025 (inception) through December 31, 2025, and the related notes to the financial statements.

 

/s/ Artesian CPA, LLC

Denver, CO

 

September 30, 2026

 

Artesian CPA, LLC

 

1312 17th Street, # 462 | Denver, CO 80202

p: 877.968.3330 f: 720.634.0905

info@ArtesianCPA.com | www.ArtesianCPA.com

 

 

 

 

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