Contract analysis

Section 1. Events 1(a) Equity Financing. If there is an Equity Financing before the termination of this SAFE, on the initial closing of such Equity Financing, this SAFE will automatically convert into the number of shares of the series of Preferred Stock sold in the Equity Financing equal to the Purchase Amount divided by the Conversion Price. The issuance of such shares to the Investor shall be on the same terms and

Section 2. Definitions 2(a) "Capital Stock" means all shares of Common Stock and Preferred Stock of the Company, in each case treated on an as-converted-to-Common-Stock basis, including, without limitation, any shares of Capital Stock that are issuable upon the exercise of outstanding options, warrants, or other rights to acquire Capital Stock, and any shares of Capital Stock that are issuable upon the conversion of

Section 3. Company Representations The Company hereby represents and warrants to the Investor as follows: 3(a) Organization and Standing. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Delaware (Delaware Secretary of State File No. 7394821). The Company has all requisite corporate power and authority to own and operate its properties and assets and t

Section 4. Investor Representations The Investor hereby represents and warrants to the Company as follows: 4(a) Accredited Investor. The Investor is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the "Securities Act"), and shall submit to the Company such further documentation or assurances as may reasonably be requested by the

Section 5. Most Favored Nation Provision If the Company issues any subsequent SAFE or similar convertible instrument (a "Subsequent SAFE") after the date of this SAFE and prior to the termination of this SAFE, and the terms of such Subsequent SAFE are, taken as a whole, or with respect to any individual provision, more favorable to the holder of such Subsequent SAFE than the terms of this SAFE are to the Investor (in

Section 6. Information Rights So long as this SAFE remains outstanding and has not been terminated in accordance with Section 1(d), and so long as the Investor (or any permitted assignee of the Investor) continues to hold this SAFE, the Company shall deliver to the Investor the following: (i) Quarterly Financial Statements. Unaudited quarterly financial statements of the Company, including a balance sheet, income sta

Section 7. Miscellaneous 7(a) Amendments and Waivers. Any provision of this SAFE may be amended, and the observance of any provision of this SAFE may be waived (either generally or in a particular instance, and either retroactively or prospectively), only with the prior written consent of the Company and the Investor. Any amendment or waiver effected in accordance with this Section 7(a) shall be binding upon the Comp