0001213900-19-021142.txt : 20191025 0001213900-19-021142.hdr.sgml : 20191025 20191025160527 ACCESSION NUMBER: 0001213900-19-021142 CONFORMED SUBMISSION TYPE: 1-A/A PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20191025 DATE AS OF CHANGE: 20191025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLOUDCOMMERCE, INC. CENTRAL INDEX KEY: 0000743758 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 300050402 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 1-A/A SEC ACT: 1933 Act SEC FILE NUMBER: 024-11067 FILM NUMBER: 191169854 BUSINESS ADDRESS: STREET 1: 321 SIXTH STREET CITY: SAN ANTONIO STATE: TX ZIP: 78215 BUSINESS PHONE: 805-964-3313 MAIL ADDRESS: STREET 1: 321 SIXTH STREET CITY: SAN ANTONIO STATE: TX ZIP: 78215 FORMER COMPANY: FORMER CONFORMED NAME: WARP 9, INC. DATE OF NAME CHANGE: 20061114 FORMER COMPANY: FORMER CONFORMED NAME: ROAMING MESSENGER INC DATE OF NAME CHANGE: 20020522 FORMER COMPANY: FORMER CONFORMED NAME: JNS MARKETING INC DATE OF NAME CHANGE: 19940610 1-A/A 1 primary_doc.xml 1-A/A LIVE 0000743758 XXXXXXXX 024-11067 true CloudCommerce, Inc. NV 2002 0000743758 5900 30-0050402 57 3 321 Sixth Street San Antonio TX 78215 805-964-3313 Gregory A. Sichenzia Other 87614.00 0.00 1182310.00 119253.00 9763989.00 1856261.00 2988.00 6588010.00 3175979.00 9763989.00 4807568.00 0.00 509841.00 -1069633.00 -0.01 -0.01 M&K CPAS, PLLC Common Stock 137512588 189125107 OTCQB Series A Preferred Stock 10000 000000000 There is no trading market for these securities. Series B Preferred Stock 18025 000000000 There is no trading market for these securities. Series C Preferred Stock 14425 000000000 There is no trading market for these securities. Series D Preferred Stock 90000 000000000 There is no trading market for these securities. Series E Preferred Stock 10000 000000000 There is no trading market for these securities. Convertible Notes 657393 000000000 There is no trading market for these securities. true true Tier2 Audited Equity (common or preferred stock) Y N N Y N N 800000 0 25.0000 20000000.00 0.00 0.00 0.00 20000000.00 n/a 0.00 Dalmore Group, LLC 200000.00 n/a 0.00 M&K CPAS, PLLC and Liggett &Webb, P.A 5000.00 Sichenzia Ross Ference LLP 100000.00 n/a 0.00 n/a 0.00 136352 17500000.00 Reflects gross proceeds (assuming sale of maximum offering amount) less estimated offering expenses, including expenses set forth above, and other expenses including marketing, online platform, transfer agent and escrow agent 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 A0 A1 A2 A3 A4 A5 A6 A7 A8 A9 B0 Z4 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 A0 A1 A2 A3 A4 A5 A6 A7 A8 A9 B0 Z4 CloudCommerce, Inc. Common Stock 34890905 0 $100,416 in convertible notes were converted to common stock These securities were sold in reliance upon the exemption provided by Section 4(a)(2) of the Securities Act PART II AND III 2 f1a2019a2_cloudcommerce.htm PRELIMINARY OFFERING CIRCULAR

 

Explanatory Note

 

CloudCommerce, Inc. has filed this Form 1-A/A solely for the purpose of filing Exhibits 2.10, 4.1, 8.1 and 12.1.

 

PART III—EXHIBITS

 

Exhibit   Description
2.1   Articles of Incorporation (incorporated by reference from the exhibits included with the Company’s Report on Form 10-KSB filed with the Securities and Exchange Commission, dated April 10, 2002).
2.2   Certificate of Amendment to Articles of Incorporation (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated September 30, 2015).
2.3   Bylaws (incorporated by reference from the exhibits included with the Company’s Report on Form 10-KSB filed with the Securities and Exchange Commission, dated April 10, 2002).
2.4   Certificate of Designation of Series A Preferred Stock (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 6, 2015).
2.5   Certificate of Designation of Series B Preferred Stock (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated December 18, 2015).
2.6   Certificate of Amendment to Certificate of Designation of Series B Preferred Stock (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated June 28, 2016).
2.7   Certificate of Designation of Series C Preferred Stock (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
2.8   Certificate of Designation of Series D Preferred Stock (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
2.9   Certificate of Designation of Series E Preferred Stock (incorporated by reference to 8-K filed November 17, 2017)
2.10   Form of Certificate of Designation of Series F Preferred Stock (filed herewith)
4.1   Form of Subscription Agreement for offering (filed herewith)
6.1   First Agreement and Plan of Reorganization between Latinocare Management Corporation, a Nevada corporation, and Warp 9, Inc., a Delaware corporation (Incorporated by reference from the exhibits included with the Company’s Report on Form SC 14F1 filed with the Securities and Exchange Commission, dated April 8, 2003).
6.2   Second Agreement and Plan of Reorganization between Latinocare Management Corporation, a Nevada corporation, and Warp 9, Inc., a Delaware corporation (Incorporated by reference from the exhibits included with the Company’s prior Report on Form 8-K filed with the Securities and Exchange Commission, dated June 11, 2003).
6.3   Agreement and Plan of Merger by and among Indaba Group, LLC, a Colorado limited liability company, Ryan Shields, Blake Gindi, and Jack Gindi, Warp 9, Inc., a Nevada corporation, and Warp 9, Inc., a Delaware corporation. (Incorporated by reference to Exhibit 10.1 to the registrant’s Current Report on Form 8-K, filed June 30, 2015).
6.4   Statement of Merger between Indaba Group, LLC, a Colorado limited liability company, and Warp 9, Inc., a Delaware corporation (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 6, 2015).
6.5   Certificate of Merger of Domestic Corporation and Foreign Limited Liability Corporation between Warp 9, Inc., a Delaware corporation, and Indaba Group, LLC, a Colorado limited liability company (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 6, 2015).
6.6   Agreement and Plan of Merger, dated as of August 1, 2017, by and among CloudCommerce, Inc., Parscale Creative, Inc., Bradley Parscale and Parscale Digital, Inc. (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).

 

 

 

  

6.7   Purchase Agreement, dated August 1, 2017, by and among CloudCommerce, Inc., Parscale Media, LLC, and Bradley Parscale (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
6.8   Stock Option Plan (Incorporated by reference from the exhibits included in the Company’s Information Statement filed with the Securities and Exchange Commission, dated August 1, 2003).
6.9   Form of Convertible Note, dated January 5, 2015 (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 10-Q/A filed with the Securities and Exchange Commission, dated February 17, 2015).
6.10   Form of Stock Option Agreement (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 10-Q/A filed with the Securities and Exchange Commission, dated February 17, 2015).
6.11   Agreement and Plan of Merger by and among Indaba Group, LLC, a Colorado limited liability company, Ryan Shields, Blake Gindi, and Jack Gindi, Warp 9, Inc., a Nevada corporation, and Warp 9, Inc., a Delaware corporation. (Incorporated by reference to Exhibit 10.1 to the registrant’s Current Report on Form 8-K, filed June 30, 2015).
6.12   Employment Agreement between Indaba Group, Inc., a Delaware corporation, and Ryan Shields (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 6, 2015).
6.13   Employment Agreement between Indaba Group, Inc., a Delaware corporation, and Blake Gindi (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 6, 2015).
6.14   Convertible Promissory Note (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 9, 2015).
6.15   Form of Promissory Note (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated April 21, 2016).
6.16   Form of Exchange Agreement (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated June 28, 2016).
6.17   Form of Promissory Note (Incorporated by reference to exhibits filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission, dated October 7, 2016).
6.18   Exchange Agreement, dated July 31, 2017, by and between CloudCommerce, Inc., and Bountiful Capital, LLC (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
6.19   Management Services Agreement, dated August 1, 2017, by and between CloudCommerce, Inc., and Parscale Creative, Inc. (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
6.20   Management Services Agreement, dated August 1, 2017, by and between CloudCommerce, Inc., and Parscale Media, LLC (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
6.20   Advisory Agreement, dated August 1, 2017, with Jill Giles (incorporated by reference from the exhibits included with the Company’s Report on Form 8-K filed with the Securities and Exchange Commission, dated August 2, 2017).
6.21   Secured Promissory Note, dated June 29, 2018, issued by Parscale Digital Inc. to P2Binvestor, Incorporated (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 12, 2018).
6.22   Security Agreement dated June 29, 2018, between Parscale Digital Inc. and P2Binvestor, Incorporated (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 12, 2018).
6.23   Agreement, dated November 20, 2018, by and between CloudCommerce, Inc. and Bradley Parscale (incorporated by reference to the Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 27, 2018).
6.24   Securities Purchase Agreement, dated June 10, 2019 (incorporated by reference to 10-Q filed August 13, 2019)
6.25   Note issued June 10, 2019 (incorporated by reference to 10-Q filed August 13, 2019)
6.26   Securities Purchase Agreement, dated July 16, 2019 (incorporated by reference to 10-Q filed August 13, 2019)
6.27   Note issued July 16, 2019 (incorporated by reference to 10-Q filed August 13, 2019)
6.28   Broker-Dealer Agreement between the Company and Dalmore Group, LLC  (previously filed)
6.29   Reg A+ Engagement Agreement between the Company and Manhattan Street Capital  (previously filed)
8.1   Form of Escrow Services Agreement (filed herewith)
11.1   Consent of M&K CPAS, PLLC (previously filed)
11.2   Consent of Liggett & Webb, P.A. (previously filed)
11.3   Consent of Sichenzia Ross Ference LLP (included in Exhibit 12.1)
12.1   Opinion of Sichenzia Ross Ference LLP (filed herewith)

 

 

 

  

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 the City of San Antonio, Sate of Texas, on October 25, 2019.

 

  CloudCommerce, Inc.
   
  By: /s/ Andrew Van Noy
    Andrew Van Noy
    Chief Executive Officer and President
    (Principal Executive Officer)

 

This offering statement has been signed by the following persons in the capacities and on the dates indicated.

 

By: /s/ Andrew Van Noy Dated: October 25, 2019
  Andrew Van Noy,  
  Chief Executive Officer, President and Chairman  
  (Principal Executive Officer)  
     
By: /s/ Gregory Boden Dated: October 25, 2019
  Gregory Boden,
Chief Financial Officer and Director
 
  (Principal Financial and Accounting Officer)  
     
By: /s/ Zachary Bartlett Dated: October 25, 2019
  Zachary Bartlett, Director  
     
By: /s/ Bradley Parscale Dated: October 25, 2019
  Bradley Parscale, Director  

 

 

 

 

EX1A-2A CHARTER 3 f1a2019a2ex2-10_cloudcom.htm FORM OF CERTIFICATE OF DESIGNATION OF SERIES F PREFERRED STOCK

Exhibit 2.10

 

CERTIFICATE OF DESIGNATION

OF

CLOUDCOMMERCE, INC.

ESTABLISHING THE DESIGNATIONS, PREFERENCES,

LIMITATIONS AND RELATIVE RIGHTS OF ITS

SERIES F PREFERRED STOCK

 

CloudCommerce, Inc. (the “Company”), a corporation organized and existing under the laws of Nevada, does hereby certify that, pursuant to authority conferred upon the Board of Directors of the Company by the Articles of Incorporation of the Company, it has adopted resolutions (a) authorizing the issuance of up to eight hundred thousand (800,000) shares of Series F Preferred Stock of the Company and (b) providing for the designations, preferences and relative participating, optional or other rights, and the qualifications, limitations or restrictions thereof, as follows:

 

SECTION 1. DESIGNATION OF SERIES. There shall hereby be created and established a series of “Series F Preferred Stock” and the number of shares initially constituting such series shall be up to eight hundred thousand (800,000) shares.

 

SECTION 2. STATED VALUE. The Stated Value of the Series F Preferred Stock will be $25.00 per share.

 

SECTION 3. DIVIDENDS. The holders of outstanding shares of Series F Preferred Stock (the “Holders”) will be entitled to receive, out of any funds and assets of the Company legally available therefor, dividends payable monthly (within 3 business days of the end of each calendar month), at the annual rate of 10% of the Stated Value, payable in preference and priority to any payment of any dividend of the common stock of the Company (the “Common Stock”), and on a pari passu basis with the Series A Preferred Stock. The right to such dividends of the Holders of Series F Preferred Stock will be cumulative.

 

SECTION 4. LIQUIDATION. Upon any liquidation, dissolution or winding- up of the Company, the Series F Preferred Stock will entitle the Holders, out of the assets of the Company available for distribution to its shareholders upon such liquidation, an amount equal to the Stated Value, for each share of Series F Preferred Stock, plus any accrued but unpaid dividends on such shares, before any payment may be made or any assets distributed to the holders of the Common Stock.

 

SECTION 5. VOTING AND PROTECTIVE PROVISIONS. (a) Except as required by law or as specifically provided herein, the Holders of Series F Preferred Stock will not be entitled to vote, as a separate class or otherwise, on any matter presented to the stockholders of the Company for their action or consideration at any meeting of stockholders of the Company (or by written consent of stockholders in lieu of meeting).

 

(b) So long as any shares of Series F Preferred Stock remain outstanding, the Company will not, without first obtaining the approval (by vote or written consent, as provided by law) of the Holders of at least a majority of the then outstanding shares of Series F Preferred Stock voting together as one class, alter or change the rights, preferences or privileges of the shares of the Series F Preferred Stock so as to affect materially and adversely such shares.

 

(c) The Company hereby covenants and agrees that the Company will not, by amendment of its Articles of Incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Certificate of Designation, and will at all times carry out all the provisions of this Certificate of Designation and take all action as may be required to protect the rights of the Holders.

 

SECTION 6. NO CONVERSION RIGHTS. The Series F Preferred Stock will have no conversion rights.

 

 

 

 

SECTION 7. REDEMPTION.

 

The Company may in its sole discretion (to the extent it may lawfully do so), at any time commencing one year after the initial issuance date of the Series F Preferred Stock, redeem any outstanding shares of Series F Preferred Stock at a price equal to the Stated Value plus any accrued but unpaid dividends thereon. In the event the Company exercises such redemption right for less than all of the then-outstanding shares of Series F Preferred Stock, the Company shall redeem the outstanding shares of the Holders of a pro rata basis. The Company may exercise such redemption right at any time by providing written notice of such redemption and payment of the redemption price to the Holders. Upon payment of the redemption price by the Company in accordance herewith, the shares of Series F Preferred Stock that have been redeemed will revert to the status of authorized but unissued preferred stock.

 

SECTION 8. NOTICES. Any notice required hereby to be given to the Holders shall be deemed given if deposited in the United States mail, postage prepaid, or provided by fax or e-mail, to the Holders of record at their respective addresses appearing on the books of the Company

 

SECTION 9. MISCELLANEOUS.

 

(a) The headings of the various sections and subsections of this Certificate of Designation are for convenience of reference only and shall not affect the interpretation of any of the provisions of this Certificate of Designation.

 

(b) Whenever possible, each provision of this Certificate of Designation shall be interpreted in a manner as to be effective and valid under applicable law and public policy. If any provision set forth herein is held to be invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or otherwise adversely affecting the remaining provisions of this Certificate of Designation. No provision herein set forth shall be deemed dependent upon any other provision unless so expressed herein. If a court of competent jurisdiction should determine that a provision of this Certificate of Designation would be valid or enforceable if a period of time were extended or shortened, then such court may make such change as shall be necessary to render the provision in question effective and valid under applicable law.

 

(c) Except as may otherwise be required by law, the Series F Preferred Stock shall not have any powers, designations, preferences or other special rights, other than those specifically set forth in this Certificate of Designation.

 

2

 

 

IN WITNESS WHEREOF, this Certificate of Designation has been executed by a duly authorized officer of the Company on this ___ day of October, 2019.

 

/s/ Andrew Van Noy  
Name: Andrew Van Noy  
Title: Chief Executive Officer  

 

 

3

 

 

EX1A-4 SUBS AGMT 4 f1a2019a2ex4-1_cloudcom.htm FORM OF SUBSCRIPTION AGREEMENT FOR OFFERING

Exhibit 4.1

 

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 MAY DEVELOP FOLLOWING THIS OFFERING.

 

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES 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 FundAthena, Inc., d/b/a Manhattan Street Capital (THE “PLATFORM”) 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: CLOUDCOMMERCE, INC.
  321 Sixth Street
  San Antonio, TX 78215

 

Ladies and Gentlemen:

 

1. Subscription.

 

(a) The undersigned (“Subscriber”) hereby irrevocably subscribes for and agrees to purchase Series F Preferred Stock (the “Securities”), of CloudCommerce Inc., a Nevada Corporation (the “Company”), at a purchase price of $25.00 per share  (the “Per Security Price”), provided that a Subscriber must purchase shares in the amount of the minimum investment, $500 (20 shares), upon the terms and conditions set forth herein. The rights and preferences of the Series F Preferred Stock are as set forth in the form of Certificate of Designation of Series F Preferred Stock included as Exhibit 2.10 to the Offering Statement of the Company filed with the SEC (the “Offering Statement”).

 

(b) Subscriber understands that the Securities are being offered pursuant to an offering circular dated ____, 2019 (the “Offering Circular”) filed with the SEC as part of the Offering Statement. By executing this Subscription Agreement, Subscriber acknowledges that Subscriber has received 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.

 

(c) 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. 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.

 

(d) The aggregate number of Securities sold shall not exceed 800,000 (the “Maximum Offering”). The Company may accept subscriptions until ____, 2020 unless otherwise extended by the Company in its sole discretion in accordance with applicable SEC regulations for such other period required to sell the Maximum Offering (the “Termination Date”). The Company may elect at any time to close all or any portion of this offering, on various dates at or prior to the Termination Date (each a “Closing Date”).

 

(e) 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.

 

2

 

 

(f) 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 be acknowledge, agree, and be bound by the representations and warranties of Subscriber, 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 the signature page of this Subscription Agreement. Subscriber shall deliver a signed copy of this Subscription Agreement, along with payment for the aggregate purchase price of the Securities by a check for available funds made payable to PrimeTrust LLC, by ACH electronic transfer, wire transfer to an account designated by the Company, or by debit card or credit card (for non-U.S. investors only), by cancellation of any indebtedness and convertible securities (and any notes or evidence thereof) made by the Company to the undersigned (the “Indebtedness”), or by any combination of such methods.

 

(b) Escrow arrangements. Payment for the Securities shall be received by PrimeTrust LLC (the “Escrow Agent”) from the undersigned by transfer of immediately available funds, check or other means approved by the Company at least two days prior to the applicable Closing Date, in the amount as set forth on the signature page hereto. Upon such Closing Date, the Escrow Agent shall release such funds to 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 Colonial Stock Transfer, (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 Nevada. 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.

 

3

 

 

(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.

 

(c) Authority for Agreement. 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, 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 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 for the years ended December 31, 2018 and June 30, 2017 and for the six months ended December 31, 2017 (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. M&K CPAS, PLLC, which has audited the financial statements for the year ended December 31, 2018 and Liggett & Webb, P.A. which has audited the financial statements as of and for the six months ended December 31, 2017 and as of, and for the year ended June 30, 2017, is each an independent accounting firm within the rules and regulations adopted by the SEC.

 

4

 

 

(g) Proceeds. The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” 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) 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. 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. While the Company intends to seek to have a market maker file an application to have the Securities quoted on the OTCQB, 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. Further, there can be no assurance that an active market may develop or be sustained. 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 risks relating to the purchase of the Securities and an investment in the Company, including those risks set forth in the Offering Circular and in the Company’s filings with the SEC.

 

5

 

 

(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 the information set forth in response to question (c) on the signature page hereto concerning Subscriber is true and correct; or

 

(ii) The purchase price set out in the signature page to this Subscription Agreement, 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) Company Information. Subscriber understands that the Company is subject to all the risks that apply to early-stage companies, whether or not those risks are explicitly set out in the Offering Circular. Subscriber has had such opportunity as it deems necessary (which opportunity may have presented through online chat or commentary functions) to discuss the Company’s business, management and financial affairs with managers, officers and management of the Company and has had the opportunity to review the Company’s operations and facilities. Subscriber has also had the opportunity to ask questions of and receive answers from the Company and its management regarding the terms and conditions of this investment. Subscriber acknowledges that except as set forth herein, no representations or warranties have been made to Subscriber, or to Subscriber’s advisors or representative, by the Company or others with respect to the business or prospects of the Company or its financial condition.

 

(g) Offering Price. The Subscriber acknowledges that the price of the Securities was set by the Company and may not bear any relationship to the Company’s assets, book value or results of operations or any other generally accepted criteria of value.

 

(h) Domicile. Subscriber maintains Subscriber’s domicile (and is not a transient or temporary resident) at the address shown on the signature page.

 

(i) 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.

 

6

 

 

(j) 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.

 

 5. Survival of Representations and Indemnity. The representations, warranties and covenants made by the Subscriber herein shall survive the Termination Date of this Agreement. 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 New York.

 

EACH OF THE SUBSCRIBER AND THE COMPANY CONSENTS TO THE JURISDICTION OF THE U.S. FEDERAL AND NEW YORK STATE COURTS SITTING IN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK AND NO OTHER PLACE AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS RELATING TO THIS SUBSCRIPTION AGREEMENT 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. 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 8 AND THE SIGNATURE PAGE OF THIS SUBSCRIPTION AGREEMENT.

 

7

 

 

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 OR OTHERWISE AND 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. EACH OF THE PARTIES HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 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 on the date of such delivery to the address of the respective parties as follows:

 

  If to the Company, to: CloudCommerce, Inc.
    Attn: Andrew Van Noy
    321 Sixth Street
    San Antonio, TX 78215
    andrew@cloudcommerce.com
     
  Copy to: Sichenzia Ross Ference LLP
    Attn: Gregory Sichenzia, Esq.
    1185 Avenue of the Americas, 37th Floor
    New York, NY 10036
    gsichenzia@srf.law

 

 

If to a Subscriber, to the Subscriber’s address as shown on the signature page hereto or to such other address as may be specified by written notice from time to time by the party entitled to receive such notice.

 

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.

 

8

 

 

(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 capital 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.

 

[SIGNATURE PAGE FOLLOWS]

 

9

 

 

CLOUDCOMMERCE, INC.

 

SUBSCRIPTION AGREEMENT SIGNATURE PAGE

 

The undersigned, desiring to purchase Series F Preferred Stock of CloudCommerce, Inc., by executing this signature page, hereby executes, adopts and agrees to all terms, conditions and representations of the Subscription Agreement.

 

  x  $25.00 per share   =  
Number of shares of Series F Preferred Stock subscribed for (minimum of 20 shares) Per Security Price Aggregate purchase price

 

The undersigned agrees that they are EITHER:

 

(i) An accredited investor (as that term is defined in Regulation D under the Securities Act because the undersigned meets the criteria set forth in the following paragraph(s) of Appendix A attached hereto:

 

OR

 

(ii) The aggregate purchase price set forth above (together with any previous
investments in the Securities pursuant to this offering) does not exceed 10% of
the greater of the undersigned’s net worth or annual income.

 

The Securities being subscribed for will be owned by, and should be recorded on the Company’s books as held in the name of:

 

Investor Name:  

 

 

Subscriber Details (address):

 

 

 

Investor Signatures:

 

 

* * * * *

 

This Subscription is accepted on _________

 

CLOUDCOMMERCE INC.

 

By:     

Name: Andrew Van Noy

Title: Chief Executive Officer

 

10

 

 

APPENDIX A

 

An accredited investor 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 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 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, 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, exceeds $1,000,000.

 

(i) Except as provided in paragraph (a)(5)(ii) of this section, for purposes of calculating net worth under this paragraph (a)(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 (a)(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 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); and

 

(8) Any entity in which all of the equity owners are accredited investors.

 

 

11

 

 

EX1A-8 ESCW AGMT 5 f1a2019a2ex8-1_cloudcom.htm FORM OF ESCROW SERVICES AGREEMENT

Exhibit 8.1

 

 

 

Escrow Services Agreement

 

This Escrow Services Agreement (this “Agreement”) is made and entered into as of October __, 2019 by and between Prime Trust, LLC (“Prime Trust” or “Escrow Agent”) and CloudCommerce, Inc. (the “Issuer”).

 

Recitals

 

WHEREAS, the Issuer proposes to offer for sale and sell securities to prospective investors (“Subscribers”), as disclosed in its offering materials, in a registered offering pursuant to the Securities Act of 1933, as amended, or exemption from registration (i.e. Regulation A+, D or S) (the “Offering”), the equity, debt or other securities of the Issuer (the “Securities”) in the amount of at least $0 (the “Minimum Amount of the Offering”) and up to the maximum amount of $20,000,000 (the “Maximum Amount of the Offering”).

 

WHEREAS, Issuer desires to establish an Escrow Account in which funds received from Subscribers will be held during the Offering, subject to the terms and conditions of this Agreement.

 

WHEREAS, Prime Trust agrees to serve as third-party escrow agent for the Subscribers with respect to such Escrow Account (as defined below) in accordance with the terms and conditions set forth herein.

 

Agreement

 

NOW THEREFORE, in consideration for the mutual covenants, promises, agreements, representations, and warranties contained in this Agreement and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties herby agree as follows:

 

1.Establishment of Escrow Account. Prior to the Issuer initiating the Offering, and prior to the receipt of the first Subscriber funds, Escrow Agent shall establish an account for the Issuer (the “Escrow Account”). All parties agree to maintain the Escrow Account and Escrow Amount (as defined below) in a manner that is compliant with banking and securities regulations. For purposes of communications and directives, Escrow Agent shall be the sole administrator of the Escrow Account.

 

2.Escrow Period. The escrow period (“Escrow Period”) shall begin with the commencement of the Offering and shall be held in the Escrow Account for the benefit of Subscribers, upon the earlier to occur of the following:

 

a.The date upon which the Minimum Amount of the Offering is received, in bona fide transactions that are fully paid for with cleared funds, which is defined to occur when Escrow Agent has received gross proceeds of at least Minimum Offering Amount that have cleared in the Escrow Account and the Issuer has instructed a partial or full closing on those funds.; or

 

b.______, 2020 if the Minimum Amount of the Offering has not been reached; or

 

c.The date upon which a determination is made by Issuer and/or their authorized representatives, to terminate the Offering; or.

 

d.Escrow Agent’s exercise of the termination rights specified in Section 8.

 

During the Escrow Period, the parties agree that (i) the Escrow Account and escrowed funds will be held for the benefit of the Subscribers, and that (ii) Issuer is not entitled to any funds received into the Escrow Account, and that no amounts deposited into the Escrow Account shall become the property of Issuer or any other entity, or be subject to any debts, liens or encumbrances of any kind of Issuer or any other entity, until the contingency has been satisfied by the sale of the Minimum Amount of the Offering to such investors in bona fide transactions that are fully paid and cleared.

 

 

 

 

3.Deposits into the Escrow Account. All Subscribers will be directed by the Issuer and its agents to transmit their data and subscription amounts, via Escrow Agent’s technology systems (“Issuer Dashboard”), directly to the Escrow Account to be held for the benefit of Subscribers in accordance with the terms of this Agreement and applicable regulations. All Subscribers will transfer funds directly to the Escrow Agent (with checks, if any, made payable to “Prime Trust, LLC as Escrow Agent for Investors in CloudCommerce, Inc.”) for deposit into the Escrow Account. Escrow Agent shall process all Escrow Amounts for collection through the banking system, shall hold such funds, and shall maintain an accounting of each deposit posted to its ledger, which also sets forth, among other things, each Subscriber’s name and address, the quantity of Securities purchased, and the amount paid. All monies so deposited in the Escrow Account and which have cleared the banking system are hereinafter referred to as the “Escrow Amount.” No interest shall be paid to Issuer or Subscribers on balances in the Escrow Account. Issuer shall promptly, concurrent with any new or modified Subscription Agreement and/or offering documents, provide Escrow Agent with a copy of the Subscriber’s subscription and other information as may be reasonably requested by Escrow Agent in the performance of their duties under this Agreement. Escrow Agent is under no duty or responsibility to enforce collection of any funds delivered to it hereunder. Issuer shall assist Escrow Agent with clearing any and all AML and ACH exceptions.

 

Funds Hold — clearing, settlement and risk management policy: All parties agree that funds are considered “cleared” as follows:
* Wires — 24 hours after receipt of funds
* Checks — 10 days after deposit
* ACH — As transaction must clear in a manner similar to checks, and as Federal regulations provide investors with 60 days to recall funds. For risk reduction and protection, in making an effort to provide flexibility to Issuer, the Escrow Agent shall at its discretion post funds as cleared starting 10 calendar days after receipt. Of course, regardless of this operating policy, Issuer remains liable to immediately and without protestation or delay return to Prime Trust any funds recalled for whatever reason pursuant to Federal regulations.

 

Notwithstanding the foregoing, cleared funds remain subject to internal compliance review in accordance with internal procedures and applicable rules and regulations. Escrow Agent reserves the right to deny, suspend or terminate participation in the Escrow Account of any Subscriber to the extent Escrow Agent, in its sole and absolute discretion, deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations or best practices.

 

4.Disbursements from the Escrow Account. In the event Escrow Agent does not receive the Minimum Amount of the Offering prior to the termination of the Escrow Period, Escrow Agent shall terminate the Escrow Account and make a full and prompt return of cleared funds to each Subscriber to the Offering.

 

In the event Escrow Agent receives cleared funds for at least the Minimum Amount of the Offering prior to the termination of the Escrow Period, and for any point thereafter and Escrow Agent receives a written instruction from Issuer (generally via notification on the Issuer Dashboard), Escrow Agent shall, pursuant to those instructions, make a disbursement to the Issuer from the Escrow Account. Issuer acknowledges that there is a 24-hour (one business day) processing time once a request has been received to disburse funds from the Escrow Account. Furthermore, Issuer directs Escrow Agent to accept instructions regarding fees from registered securities brokers in the syndicate, if any, or from the API integrated platform or portal through which this offering is being conducted, if any.

 

2

 

 

5.Collection Procedure. Escrow Agent is hereby authorized, upon receipt of Subscriber funds, to promptly deposit them in the Escrow Account. Any Subscriber funds which fail to clear or are subsequently reversed, including but not limited to ACH chargebacks and wire recalls, shall be debited to the Escrow Account, with such debits reflected on the Escrow Account ledger accessible via Escrow Agent’s API or dashboard technology. Any and all escrow fees paid by Issuer, including those for funds receipt and processing are non-refundable, regardless of whether ultimately cleared, failed, rescinded, returned or recalled. In the event of any Subscriber refunds, returns or recalls after funds have already been remitted to Issuer, then Issuer hereby irrevocably agrees to immediately and without delay or dispute send equivalent funds to Escrow Agent to cover such refunds, returns or recalls. If Issuer has any dispute or disagreement with its Subscriber then that is separate and apart from this Agreement and Issuer will address such situation directly with said Subscriber, including taking whatever actions Issuer determines appropriate, but Issuer shall regardless remit funds to Escrow Agent and not involve Escrow Agent in any such disputes.

 

6.Escrow Administration Fees, Compensation of Prime Trust. Escrow Agent is entitled to escrow administration fees from Issuer as set forth in Schedule A attached hereto. All fees are charged immediately upon receipt of this Agreement and then immediately as they are incurred in Escrow Agent’s performance hereunder and are not contingent in any way on the success or failure of the Offering or transactions contemplate by this Agreement. No fees, charges or expense reimbursements of Escrow Agent are reimbursable, and are not subject to pro-rata analysis. All fees and charges, if not paid by a representative of Issuer (e.g. funding platform, lead syndicate broker, etc.), may be made via either Issuers credit card or ACH information on file with Escrow Agent. Escrow Agent may also collect its fee(s), at its option, from any other account held by the Issuer at Prime Trust. It is acknowledged and agreed that no fees, reimbursement for costs and expenses, indemnification for any damages incurred by Issuer or Escrow Agent shall be paid out of or chargeable to the investor funds on deposit in the Escrow Account.

 

7.Representations and Warranties. The Issuer covenants and makes the following representations and warranties to Escrow Agent:

 

a.It is duly organized, validly existing, and in good standing under the laws of the state of its incorporation or organization and has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder.

 

b.This Agreement and the transactions contemplated thereby have been duly approved by all necessary actions, including any necessary shareholder or membership approval, has been executed by its duly authorized officers, and constitutes a valid and binding agreement enforceable in accordance with its terms.

 

c.The execution, delivery, and performance of this Agreement is in accordance with the agreements related to the Offering and will not violate, conflict with, or cause a default under its articles of incorporation, bylaws, management agreement or other organizational document, as applicable, any applicable law, rule or regulation, any court order or administrative ruling or decree to which it is a party or any of its property is subject, or any agreement, contract, indenture, or other binding arrangement, including the agreements related to the Offering, to which it is a party or any of its property is subject.

 

3

 

 

d.The Offering shall contain a statement that Escrow Agent has not investigated the desirability or advisability of investment in the Securities nor approved, endorsed or passed upon the merits of purchasing the Securities; and the name of Escrow Agent has not and shall not be used in any manner in connection with the Offering of the Securities other than to state that Escrow Agent has agreed to serve as escrow agent for the limited purposes set forth in this Agreement.

 

e.No party other than the parties hereto has, or shall have, any lien, claim or security interest in the Escrow Funds or any part thereof. No financing statement under the Uniform Commercial Code is on file in any jurisdiction claiming a security interest in or describing (whether specifically or generally) the Escrow Funds or any part thereof.

 

f.It possesses such valid and current licenses, certificates, authorizations or permits issued by the appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct its respective businesses, and it has not received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such license, certificate, authorization or permit.

 

g.Its business activities are in no way related to Cannabis, gambling, pornography, or firearms.

 

h.The Offering complies in all material respects with the Act and all applicable laws, rules and regulations.

 

i.Issuer shall make no representation or implication that the Escrow Agent has investigated the desirability or advisability of investment in the Securities or has approved, endorsed or passed upon the merits of the investment therein and that the name of the Escrow Agent has not and shall not be used in any manner in connection with the offer or sale of the Securities other than to state that the Escrow Agent has agreed to serve as escrow agent for the limited purposes set forth herein.

 

All of its representations and warranties contained herein are true and complete as of the date hereof and will be true and complete at the time of any disbursement of Escrow Funds.

 

8.Term and Termination. This Agreement will remain in full force during the Escrow Period and shall terminate upon the following:

 

a.As set forth in Section 2.

 

b.Termination for Convenience. Any party may terminate this Agreement at any time for any reason by giving at least thirty (30) days’ written notice.

 

c.Escrow Agent’s Resignation. Escrow Agent may unilaterally resign by giving written notice to Issuer, whereupon Issuer will immediately appoint a successor escrow agent. Without limiting the generality of the foregoing, Escrow Agent may terminate this Agreement and thereby unilaterally resign under the circumstances specified in Section 2. Until a successor escrow agent accepts appointment or until another disposition of the subject matter has been agreed upon by the parties, following such resignation notice, Escrow Agent shall be discharged of all of its duties hereunder save to keep the subject matter whole.

 

9.Binding Arbitration, Applicable Law, Venue, and Attorney’s Fees. This Agreement is governed by, and will be interpreted and enforced in accordance with the laws of the State of Nevada, as applicable, without regard to principles of conflict of laws. Any claim or dispute arising under this Agreement may only be brought in arbitration, pursuant to the rules of the American Arbitration Association, with venue in Clark County, Nevada. The parties 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 waives any right it may have to object to either the method or jurisdiction for such claim or dispute. Furthermore, the prevailing party shall be entitled to recover damages plus reasonable attorney’s fees and costs and the decision of the arbitrator shall be final, binding and enforceable in any court.

 

4

 

 

10.Limited Capacity of Escrow Agent. This Agreement expressly and exclusively sets forth the duties of Escrow Agent with respect to any and all matters pertinent hereto, and no implied duties or obligations shall be read into this Agreement against Escrow Agent. Escrow Agent acts hereunder as an escrow agent only and is not associated, affiliated, or involved in the business decisions or business activities of Issuer, portal, or Subscriber. Escrow Agent is not responsible or liable in any manner whatsoever for the sufficiency, correctness, genuineness, or validity of the subject matter of this Agreement or any part thereof, or for the form of execution thereof, or for the identity or authority of any person executing or depositing such subject matter. Escrow Agent shall be under no duty to investigate or inquire as to the validity or accuracy of any document, agreement, instruction, or request furnished to it hereunder, including, without limitation, the authority or the identity of any signer thereof, believed by it to be genuine, and Escrow Agent may rely and act upon, and shall not be liable for acting or not acting upon, any such document, agreement, instruction, or request. Escrow Agent shall in no way be responsible for notifying, nor shall it be responsible to notify, any party thereto or any other party interested in this Agreement of any payment required or maturity occurring under this Agreement or under the terms of any instrument deposited herewith. Escrow Agent’s entire liability and exclusive remedy in any cause of action based on contract, tort, or otherwise in connection with any services furnished pursuant to this Agreement shall be limited to the total fees paid to Escrow Agent by Issuer. The Escrow Agent shall not be called upon to advise any party as to the wisdom in selling or retaining or taking or refraining from any action with respect to any securities or other property deposited hereunder. Escrow Agent may consult legal counsel selected by it in the event of any dispute or question as to the construction of any of the provisions hereof or of any other agreement or of its duties hereunder, or relating to any dispute involving any party hereto, and shall incur no liability and shall be fully indemnified from any reasonable liability whatsoever in acting in accordance with the reasonable opinion or instruction of such counsel. Issuer shall promptly pay, upon demand, the reasonable fees and expenses of any such counsel.

 

11.Indemnity. Issuer agrees to defend, indemnify and hold Escrow Agent and its related entities, directors, employees, service providers, advertisers, affiliates, officers, agents, and partners and third-party service providers (collectively “Escrow Agent Indemnified Parties”) harmless from and against any loss, liability, claim, or demand, including attorney’s fees (collectively “Expenses”), made by any third party due to or arising out of (i) this Agreement or a breach of any provision in this Agreement, or (ii) any change in regulation or law, state or federal, and the enforcement or prosecution of such as such authorities may apply to or against Issuer. This indemnity shall include, but is not limited to, all Expenses incurred in conjunction with any interpleader that Escrow Agent may enter into regarding this Agreement and/or third-party subpoena or discovery process that may be directed to Escrow Agent Indemnified Parties. It shall also include any action(s) by a governmental or trade association authority seeking to impose criminal or civil sanctions on any Escrow Agent Indemnified Parties based on a connection or alleged connection between this Agreement and Issuers business and/or associated persons. These defense, indemnification and hold harmless obligations will survive termination of this Agreement. Escrow Agent reserves the right to control the defense of any such claim or action and all negotiations for settlement or compromise, and to select or approve defense counsel, and Issuer agrees to fully cooperate with Escrow Agent in the defense of any such claim, action, settlement, or compromise negotiations.

 

5

 

 

12.Entire Agreement, Severability and Force Majeure. This Agreement contains the entire agreement between Issuer and Escrow Agent regarding the Escrow Account. If any provision of this Agreement is held invalid, the remainder of this Agreement shall continue in full force and effect. Furthermore, no party shall be responsible for any failure to perform due to acts beyond its reasonable control, including acts of God, terrorism, shortage of supply, labor difficulties (including strikes), war, civil unrest, fire, floods, electrical outages, equipment or transmission failures, internet interruptions, vendor failures (including information technology providers), or other similar causes.

 

13.Escrow Agent Compliance. Escrow Agent may, at its sole discretion, comply with any new, changed, or reinterpreted regulatory or legal rules, laws or regulations, law enforcement or prosecution policies, and any interpretations of any of the foregoing, and without necessity of notice, Escrow Agent may (i) modify either this Agreement or the Escrow Account, or both, to comply with or conform to such changes or interpretations or (ii) terminate this Agreement or the Escrow Account or both if, in the sole and absolute discretion of Escrow Agent, changes in law enforcement or prosecution policies (or enactment or issuance of new laws or regulations) applicable to the Issuer might expose Escrow Agent to a risk of criminal or civil prosecution, and/or of governmental or regulatory sanctions or forfeitures if Escrow Agent were to continue its performance under this Agreement. Furthermore, all parties agree that this Agreement shall continue in full force and be valid, unchanged and binding upon any successors of Escrow Agent. Changes to this Agreement will be sent to Issuer via email. Escrow Agent may act or refrain from acting in respect of any matter referred to in this Escrow Agreement in full reliance upon and by and with the advice of its legal counsel and shall be fully protected in so acting or in refraining from acting upon advice of counsel. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder, the Escrow Agent shall be entitled to (i) refrain from taking any action other than to keep safe the Escrow Amounts until directed otherwise by a court of competent jurisdiction or, (ii) interpead the Escrow Amount to a court of competent jurisdiction.

 

14.Waivers. No waiver by any party to this Agreement of any condition or breach of any provision of this Agreement will be effective unless in writing. No waiver by any party of any such condition or breach, in any one instance, will be deemed to be a further or continuing waiver of any such condition or breach or a waiver of any other condition or breach of any other provision contained in this Agreement.

 

15.Notices. Any notice to Escrow Agent is to be sent to escrow@primetrust.com. Any notices to Issuer will be to CloudCommerce, Inc., Attn: Andrew Van Noy, 321 Sixth Street, San Antonio, TX 78215, andrew@cloudcommerce.com.

 

Any party may change their notice or email address giving notice thereof in accordance with this Paragraph. All notices hereunder shall be deemed given: (1) if served in person, when served; (2) if sent by facsimile or email, on the date of transmission if before 6:00 p.m. Eastern time, provided that a hard copy of such notice is also sent by either a nationally recognized overnight courier or by U.S. Mail, first class; (3) if by overnight courier, by a nationally recognized courier which has a system of providing evidence of delivery, on the first business day after delivery to the courier; or (4) if by U.S. Mail, on the third day after deposit in the mail, postage prepaid, certified mail, return receipt requested. Furthermore, all parties hereby agree that all current and future notices, confirmations and other communications regarding this Agreement specifically, and future communications in general between the parties, may be made by email, sent to the email address of record as set forth above or as otherwise from time to time changed or updated in Issuer Dashboard, directly by the party changing such information, without necessity of confirmation of receipt, delivery or reading, and such form of electronic communication is sufficient for all matters regarding the relationship between the parties. If any such electronically-sent communication fails to be received for any reason, including but not limited to such communications being diverted to the recipients’ spam filters by the recipients email service provider or technology, or due to a recipients’ change of address, or due to technology issues by the recipients’ service provider, the parties agree that the burden of such failure to receive is on the recipient and not the sender, and that the sender is under no obligation to resend communications via any other means, including but not limited to postal service or overnight courier, and that such communications shall for all purposes, including legal and regulatory, be deemed to have been delivered and received. No physical, paper documents will be sent to Issuer, including statements, and if such documents are desired then that party agrees to directly and personally print, at their own expense, the electronically-sent communication(s) or dashboard reports and maintaining such physical records in any manner or form that they desire. Your Consent is Hereby Given: By signing this Agreement electronically, you explicitly agree to this Agreement and to receive documents electronically, including your copy of this signed Agreement as well as ongoing disclosures, communications and notices.

 

6

 

 

16.Counterparts; Facsimile; Email; Signatures; Electronic Signatures. This Agreement may be executed in counterparts, each of which will be deemed an original and all of which, taken together, will constitute one and the same instrument, binding on each signatory thereto. This Agreement may be executed by signatures, electronically or otherwise, and delivered by email in .pdf format, which shall be binding upon each signing party to the same extent as an original executed version hereof.

 

17.Substitute Form W–9: Taxpayer Identification Number certification and backup withholding statement. PRIVACY ACT STATEMENT: Section 6109 of the Internal Revenue Code requires you (Issuer) to provide us with your correct Taxpayer Identification Number (TIN). Under penalties of Perjury, Issuer certifies that: (1) The tax identification number provided to Escrow Agent is the correct taxpayer identification number and (2) Issuer is not subject to backup withholding because: (a) Issuer is exempt from backup withholding, or, (b) Issuer has not been notified by the Internal Revenue Service (IRS) that it is subject to backup withholding. Notification Obligation: Issuer agrees to immediately inform Prime Trust in writing if it has been, or at any time in the future is notified by the IRS that Issuer is subject to backup withholding.

 

18.Survival. Even after this Agreement is terminated, certain provisions will remain in effect, including but not limited to Sections 3, 4, 5, 10, 11, 12 and 14 of this Agreement. Upon any termination, Escrow Agent shall be compensated for the services as of the date of the termination or removal.

 

[Signature Page Follows]

 

7

 

 

Consent is Hereby Given: By signing this Agreement electronically, Issuer explicitly agrees to receive documents electronically including its copy of this signed Agreement as well as ongoing disclosures, communications, and notices.

 

Agreed as of the date set forth above by and between:

 

CloudCommerce, Inc.  
   
By:                         
   
Name:    
Title:    
   
   
Prime Trust, LLC  
   
By:    
   
Name:    
Title:    

 

8

 

 

Schedule A

 

Escrow Agent Fees

 

 

9

 

 

EX1A-12 OPN CNSL 6 f1a2019a2ex12-1_cloudcom.htm OPINION OF SICHENZIA ROSS FERENCE LLP

Exhibit 12.1

 

 

 

October 25, 2019

 

Board of Directors

CloudCommerce, Inc.

321 Sixth Street

San Antonio, TX 78215

 

Ladies and Gentlemen:

 

We have acted as counsel to CloudCommerce, Inc., a Nevada corporation (the “Company”), in connection with the preparation and filing of an offering statement on Form 1-A. The offering statement covers the contemplated sale of up to 800,000 shares of the Company’s Series F Preferred Stock.

  

In connection with this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction, of the following:

 

1. Articles of Incorporation of the Company, as amended;

 

2. Bylaws of the Company, as amended;

 

3. The offering statement, as amended (File No. 024-11067) as filed by the Company with the Securities and Exchange Commission (the “Commission”); and

 

4. Written consent of the Board of Directors of the Company approving the offering of the Series F Preferred Stock under the offering statement.

 

We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinions stated below.

 

In our examination, we have assumed the genuineness of all signatures, including endorsements, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photostatic copies, and the authenticity of the originals of such copies. In making our examination of executed documents, we have assumed (i) that the parties thereto, other than the Company, had the power, corporate or other, to enter into and perform all obligations thereunder and (ii) the due authorization by all requisite action, corporate or other, and the execution and delivery by such parties of such documents, and the validity and binding effect thereof on such parties.

 

The opinion expressed below is limited to the corporate laws of the State of Nevada and we express no opinion as to the effect on the matters covered by the laws of any other jurisdiction.

 

Based upon and subject to the foregoing, we are of the opinion that the shares of Series F Preferred Stock being sold pursuant to the offering statement are duly authorized and will be, when issued in the manner described in the offering statement, legally and validly issued, fully paid and non-assessable.

 

We hereby consent to the filing of this opinion with the Commission as an exhibit to the offering statement. We also hereby consent to the reference to our firm under the caption “Legal Matters” in the offering circular. This opinion is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.

 

Very truly yours,  
   

/s/ Sichenzia Ross Ference LLP

 

1185 Avenue of the Americas | 37th Floor | New York, NY | 10036

T (212) 930 9700 | F (212) 930 9725 | WWW.SRF.LAW

 

GRAPHIC 7 ex12_001.jpg GRAPHIC begin 644 ex12_001.jpg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end GRAPHIC 8 ex8-1_001.jpg GRAPHIC begin 644 ex8-1_001.jpg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