2019-03-01 - GLX Offering Memorandum - Reg - CF by GLX.com

COM

A BLOCKCHAIN-POWERED SOCIAL FINANCE NETWORK

REG CF OFFERING MEMORANDUM MARCH 2019

OUR MISSION IS TO MAKE THE WORLDâ&#x20AC;&#x2122;S CAPITAL MARKETS MORE TRANSPARENT, OPEN, AND CONNECTED.

GLX WILL REVOLUTIONIZE THE W OF THE WORLDâ&#x20AC;&#x2122;S CAPITAL MARKE SHARES, AND ACCES

WAY EACH AND EVERY MEMBER ETS CONNECTS, COMMUNICATES, SSES INFORMATION.

UP TO 5.35 MILLION GLX CLASS A COMMON EQUITY TOKENS AT $0.20 USD PER-TOKEN REG CF SYMBOL - X (U.S. INVESTORS)

ABSTRACT. This Offering Memorandum describes the GLX.com business model and the creation, issuance, and policies of all GLX securities including the 5.35 million Class A GLX Equity Tokens currently offered only in the United States pursuant to Regulation Crowdfunding (CF) as described herein. Offering Memorandum

NOTICE TO INVESTORS A CROWDFUNDING INVESTMENT INVOLVES RISK. YOU SHOULD NOT INVEST ANY FUNDS IN THIS OFFERING UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. IN MAKING AN INVESTMENT DECISION, PURCHASERS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THESE SECURITIES HAVE NOT BEEN RECOMMENDED OR APPROVED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THESE AUTHORITIES HAVE NOT PASSED UPON THE ACCURACY OR ADEQUACY OF THIS DOCUMENT. THE U.S. SECURITIES AND EXCHANGE COMMISSION DOES NOT PASS UPON THE MERITS OF ANY SECURITIES OFFERED OR THE TERMS OF THE OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING DOCUMENT OR LITERATURE. THESE SECURITIES ARE OFFERED UNDER AN EXEMPTION FROM REGISTRATION; HOWEVER, NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES AUTHORITY HAS MADE AN INDEPENDENT DETERMINATION THAT THESE SECURITIES ARE EXEMPT FROM REGISTRATION. COMPANIES FILING A FORM C FOR AN OFFERING IN RELIANCE ON SECTION 4(A)(6) OF THE SECURITIES ACT AND PURSUANT TO REGULATION CF (§ 227.100 ET SEQ.) MUST FILE A REPORT WITH THE COMMISSION ANNUALLY AND POST THE REPORT ON THEIR WEBSITE NO LATER THAN 120-DAYS AFTER THE END OF EACH FISCAL YEAR COVERED BY THE REPORT. THIS OFFERING MEMORANDUM IS AN EXHIBIT TO OUR FORM C FILING.

SECURITY TOKEN OFFERING MEMORANDUM $ 1,0 7 0,0 0 0 U S D GLX, INC. 5 ,3 5 0,0 0 0 G L X C L A S S A C O M M O N E Q U I T Y T O K E N S T h i s o f fe r i n g m e m o ra n d u m ( t h e “ O f fe r i n g M e m o ra n d u m ” ) c o n s t i t u t e s a n o f fe r i n g Vo t i n g C o m m o n S t o c k , p a r va l u e $ 0.0 0 0 1 p e r - s h a re , re p re s e n t e d by G L X C l a s s A To ke n s ( h e re i n e a c h s h a re , a “ G L X C l a s s A C o m m o n E q u i t y To ke n ” o r “ To ke n ” ) a t a c e n t s U S D ( $ 0.2 0 ) p e r - t o ke n ( t h e “ O f fe r i n g ” ) . T h e C o m p a ny i s m a k i n g c o n c u r re n t Regulation CF in the U.S. and Regulation S outside of the U.S.

of GLX Class A Common Equity price of twenty o f fe r i n g s u n d e r

T h i s O f fe r i n g i s b e i n g m a d e by G L X , I n c . , a N e va d a c o r p o ra t i o n , h a v i n g i t s p r i n c i p a l p l a c e o f b u s i n e s s a t 3 4 0 R oya l Po i n c i a n a Wa y, S t e 3 1 7 - 3 3 5, Pa l m B e a c h , F L 3 3 4 8 0 ( h e re i n a f t e r “ G L X ” o r t h e “ C o m p a ny ” ) . U n l e s s o t h e r w i s e i n d i c a t e d , a l l re fe re n c e s t o “ u s ” , “ o u r ” , a n d “ w e ” re fe r t o G L X . T h e To k e n s re p re s e n t C l a s s A vo t i n g c o m m o n o w n e rs h i p i n G L X . A s a p o i n t o f re fe re n c e h e re i n w e w i l l re fe r t o a l l G L X e q u i t y s e c u r i t i e s a s “ To ke n s ” w h e t h e r i t b e i s s u e d a n d h e l d i n b o o k e n t r y, p a p e r o r d i g i t a l c e r t i f i c a t e s , o r d i g i t a l To ke n s . T h e To ke n s i n i t i a l l y m ay b e re c o rd e d i n b o o k - e n t r y fo r m . H o w e ve r, t h e To ke n s a re i n t e n d e d t o b e “ s e c u r i t y t o ke n s ” - e q u i t y o w n e rs h i p t h a t i s g e n e ra t e d a n d / o r t ra d e d u s i n g b l o c k i n g t e c h n o l o g y. T h e To k e n s a re b e i n g o f fe re d o n l y i n t h o s e j u r i s d i c t i o n s w h e re t h e y m ay b e l a w f u l l y p e r m i t t e d t o b e o f fe re d fo r s a l e a n d t h e re i n o n l y by p e rs o n s p e r m i t t e d t o s e l l s u c h To ke n s a n d t o t h o s e p e r s o n s

DISCLAIMERS t o w h o m t h e y m ay b e l a w f u l l y o f fe re d fo r s a l e . T h e o f fe r o f t h e To ke n s i n t h e U n i t e d S t a t e s i s b e i n g m a d e p u rs u a n t t o R e g u l a t i o n C ro w d f u n d i n g ( C F ) i n re l i a n c e o n a n exe m p t i o n f ro m re g i s t ra t i o n u n d e r section 4(a)(6) of the Securities Act of 1933 (the “Securities Act”) (15 U.S.C. 77d(a)(6)). N o p ro s p e c t u s h a s b e e n f i l e d w i t h a ny s e c u r i t i e s re g u l a t o r y a u t h o r i t y i n c o n n e c t i o n w i t h t h e O f fe r i n g h e re u n d e r. T h i s O f fe r i n g M e m o ra n d u m i s n o t t o b e c o n s t r u e d a s a p ro s p e c t u s o r a d ve r t i s e m e n t o r a p u b l i c o f fe r i n g o f t h e To ke n s . P ro s p e c t i ve i nve s t o r s ( h e re i n “ I nve s t o r ” o r “ I nve s t o rs ” ) s h o u l d re a d t h e w h o l e o f t h i s O f fe r i n g M e m o ra n d u m a n d s h o u l d b e a wa re t h a t t h e s e To ke n s a re s p e c u l a t i ve a n d i nvo l ve a h i g h d e g re e o f r i s k . S e e t h e S e c t i o n s e n t i t l e d “ R i s k Fa c t o rs ” o f t h i s O f fe r i n g M e m o ra n d u m fo r a d i s c u s s i o n o f r i s k s a n d o t h e r fa c t o r s w h i c h s h o u l d b e c o n s i d e re d p r i o r t o a ny i nve s t m e n t i n t h e To k e n s . T h i s O f fe r i n g M e m o ra n d u m h a s b e e n p re p a re d s o l e l y fo r t h e p u r p o s e o f i nve s t m e n t by I nve s t o rs i n t h e To ke n s . T h i s O f fe r i n g M e m o ra n d u m d o e s n o t c o n s t i t u t e a n o f fe r t o t h e p u b l i c g e n e ra l l y t o s u b s c r i b e fo r o r o t h e r w i s e a c q u i re a ny o f t h e To ke n s o f fe re d h e re by. T h e m i n i m u m p u rc h a s e p e r - I nve s t o r i s $ 1 0.0 0. O f f i c e r s a n d d i re c t o rs o f t h e C o m p a ny w i l l m a ke o f fe r s a n d s a l e s o f t h e To ke n s ; h o w e ve r, t h e C o m p a ny re t a i n s t h e r i g h t t o u t i l i z e o t h e r b l o c kc h a i n t o ke n d i s t r i b u t o rs a n d a ny b ro ke r - d e a l e rs re g i s t e re d w i t h t h e Fi n a n c i a l I n d u s t r y R e g u l a t o r y A u t h o r i t y, I n c . ( “ F I N R A” ) a n d a p p l i c a b l e s t a t e s e c u r i t i e s a u t h o r i t i e s t o s e l l a l l o r a ny p o r t i o n o f t h e To ke n s . I f t h e C o m p a ny s o e l e c t s , i t m a y p a y s u c h b ro ke r - d e a l e r s a c o m m i s s i o n i n t h e a m o u n t o f u p t o 1 0 % a n d a n o n - a c c o u n t a b l e ex p e n s e a l l o wa n c e o f u p t o 3 % o f t h e p ro c e e d s t h e y h a ve s o l d . T h i s O f fe r i n g M e m o ra n d u m d o e s n o t c o n s t i t u t e a n o f fe r o r s o l i c i t a t i o n i n a ny c o u n t r y, s t a t e , o r o t h e r j u r i s d i c t i o n i n w h i c h s u c h a n o f fe r o r s o l i c i t a t i o n i s n o t a u t h o r i z e d . T h e i n fo r m a t i o n c o n t a i n e d i n t h i s O f fe r i n g M e m o ra n d u m i s p r i v i l e g e d , p ro p r i e t a r y, a n d o t h e r w i s e p ro t e c t e d f ro m d i s c l o s u re . E a c h I nve s t o r, by a c c e p t i n g d e l i ve r y ( e l e c t ro n i c a l l y o r p hys i c a l l y ) o f t h i s O f fe r i n g M e m o ra n d u m , a g re e s t o t h e fo re g o i n g a n d u n d e r t a ke s n o t t o re p ro d u c e , i n w h o l e o r i n p a r t , t h i s O f fe r i n g M e m o ra n d u m , o r a ny d o c u m e n t s re l a t i n g t h e re t o a n d , i f s u c h I nve s t o r d o e s n o t p u rc h a s e a ny o f t h e To ke n s o f fe re d h e re by o r t h e O f fe r i n g i s t e r m i n a t e d , t o re t u r n p ro m p t l y t h i s O f fe r i n g M e m o ra n d u m a n d a l l s u c h d o c u m e n t s t o t h e C o m p a ny, i f s o re q u e s t e d by t h e C o m p a ny. T h e O f fe r i n g i s s c h e d u l e d t o b e g i n o n M a rc h 1, 2 0 1 9 a n d w i l l t e r m i n a t e o n M ay 3 1, 2 0 1 9. T h e C o m p a ny re s e r ve s t h e r i g h t , h o w e ve r, t o ex t e n d t h e t e r m o f t h i s O f fe r i n g fo r a p e r i o d o f u p t o 9 0 - d a ys .

I f t h e re a d e r o f t h i s O f fe r i n g M e m o ra n d u m i s n o t t h e i n t e n d e d re c i p i e n t , yo u a re h e re by n o t i f i e d t h a t a ny d i s s e m i n a t i o n , d i s t r i b u t i o n , c o py i n g , o r u s e o f t h i s O f fe r i n g M e m o ra n d u m i s s t r i c t l y p ro h i b i t e d . I f yo u h ave re c e i ve d t h i s d o c u m e n t i n e r ro r, p l e a s e d e s t roy o r d e l e t e a ny c o py t h e re o f.

Offering Memorandum

“IT’S THE NEW TERM” “ T H E I N D U S T RY I S D I S T I N G U I S H I N G V E RY C L E A R LY N O W B E T W E E N ICOS AND STOS” “ I T I S A V E RY C L E V E R OFFERING, AND COULD REPRESENT A WHOLE NEW MODEL FOR AMERICAN ENTREPRENEURSHIP” - OVER STOCK CEO PATRICK BYRNE

DISCLAIMERS

DIS C L A I ME RS , WARN IN GS AN D OTHER IM P O R TANT NOTE S THIS OFFERING HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THE OFFERING MEMORANDUM IS BEING FURNISHED ON BEHALF OF THE COMPANY SOLELY FOR USE BY THE INVESTORS IN CONNECTION WITH THEIR CONSIDERATION OF AN INVESTMENT IN THE COMPANY. NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR MAKE ANY STATEMENTS OTHER THAN AS CONTAINED IN THIS OFFERING MEMORANDUM OR IN THE SUPPLEMENTAL DATA TO BE FURNISHED OR MADE AVAILABLE BY THE COMPANY TO INVESTORS, AS MORE FULLY DESCRIBED HEREIN AND ANY SUCH STATEMENTS, IF MADE, MUST NOT BE RELIED UPON. IF GIVEN OR MADE ANY SUCH OTHER INFORMATION OR REPRESENTATION, IT MAY NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY. IN FURNISHING THIS OFFERING MEMORANDUM, THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO PROVIDE RECIPIENTS OF THE OFFERING MEMORANDUM WITH ACCESS TO ANY ADDITIONAL INFORMATION OR TO UPDATE THIS OFFERING MEMORANDUM OR TO CORRECT ANY INACCURACIES HEREIN, WHICH MAY BECOME APPARENT. THE INFORMATION CONTAINED IN THE OFFERING MEMORANDUM WAS CREATED BY THE COMPANY FROM ITS OWN INTERNAL RECORDS AND FROM PUBLISHED AND UNPUBLISHED SOURCES IT BELIEVES TO BE RELIABLE. NEITHER THIS OFFFERING MEMORANDUM NOR ANY SUPPLEMENTARY DATA PURPORTS TO BE INCLUSIVE, AND, ACCORDINGLY, EACH INVETOR IS EXPECTED TO CONDUCT ITS OWN DUE DILIGENCE. NEITHER THE COMPANY, NOR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES, ADVISORS OR AGENTS, MAKE ANY REPRESENTATION OR WARRANTY, EXPRESSED OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF THIS OFFERING MEMORANDUM OR ANY OF ITS CONTENTS, AND NO LEGAL LIABILITY IS ASSUMED OR IS TO BE IMPLIED AGAINST ANY OF THE AFOREMENTIONED WITH RESPECT HERETO. NO INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM OR ANY OTHER WRITTEN OR ORAL COMMUNICATIONS TRANSMITTED OR MADE AVAILABLE TO A RECIPIENT OF THIS OFFERING MEMORANDUM IS, OR SHALL BE RELIED UPON AS A PROMISE OR REPRESENTATION, WHETHER AS TO THE PAST OR FUTURE, AND NO LIABILITY WILL ATTACH. IN ADDITION, ANY PROJECTIONS AND ESTIMATES CONTAINED IN THIS OFFERING MEMORANDUM INVOLVE NUMEROUS AND SIGNIFICANT SUBJECTIVE DETERMINATIONS. ACCORDINGLY, NO REPRESENTATION OR WARRANTY CAN BE OR IS MADE AS TO THE ACCURACY OR ATTAINABILITY OF SUCH ESTIMATES AND PROJECTIONS. THE COMPANY DOES NOT EXPECT TO UPDATE OR OTHERWISE REVISE THIS OFFERING MEMORANDUM OR ANY PROJECTIONS ATTACHED THERETO. SUCH PROJECTIONS HAVE BEEN PREPARED BY AND ARE THE SOLE RESPONSIBILITY OF THE COMPANY AND HAVE NOT BEEN REVIEWED OR COMPILED BY THE COMPANY’S INDEPENDENT AUDITORS. THE COMPANY RESERVES THE RIGHT TO NEGOTIATE WITH ONE OR MORE INVETORS AT ANY TIME AND TO ENTER INTO A DEFINITIVE AGREEMENT FOR INVESTMENT IN THE COMPANY OR ANY OTHER TRANSACTION RELATED TO THE COMPANY WITHOUT PRIOR NOTICE TO THE RECIPIENT OR OTHER INVETORS. THE COMPANY RESERVES THE RIGHT, IN

Offering Memorandum

DISCLAIMERS

ITS SOLE DISCRETION, TO NEGOTIATE DISCOUNTS FOR THE SALE OF THE COMPANY TOKENS WITH INVETORS, WHO MAY MAKE SIGNIFICANT INVESTMENTS IN THE COMPANY, WITHOUT PRIOR NOTICE TO OR SIMILAR OPPORTUNITY FOR ANY OTHER RECIPIENT OR INVETOR. ALSO, THE COMPANY RESERVES THE RIGHT TO TERMINATE, AT ANY TIME, FURTHER PARTICIPATION IN THE OFFERING BY ANY PARTY AND TO MODIFY ANY PROCEDURES WITHOUT GIVING ADVANCE NOTICE OR PROVIDING ANY REASON THEREFORE. THE SUMMARIES IN THIS OFFERING MEMORANDUM DO NOT PURPORT TO BE COMPLETE AND ARE SUBJECT TO AND QUALIFIED IN THEIR ENTIRETY BY REFERENCE TO THE ACTUAL TEXT OF THE RELEVANT DOCUMENT, COPIES OF WHICH WILL BE PROVIDED TO EACH INVETOR UPON REQUEST. EACH INVETOR SHOULD REVIEW THE SUBSCRIPTION AGREEMENT AND SUCH OTHER RELEVANT DOCUMENTS FOR COMPLETE INFORMATION CONCERNING THE RIGHTS, PRIVILEGES, AND OBLIGATIONS OF INVESTORS IN THE COMPANY. IF ANY OF THE TERMS, CONDITIONS, OR OTHER PROVISIONS OF THE SUBSCRIPTION AGREEMENT OR SUCH OTHER DOCUMENTS ARE INCONSISTENT WITH OR CONTRARY TO THE DESCRIPTIONS OR TERMS IN THIS OFFERING MEMORANDUM, THE SUBSCRIPTION AGREEMENT, OR SUCH OTHER DOCUMENTS SHALL CONTROL. THE COMPANY RESERVES THE RIGHT TO MODIFY THE TERMS OF THE OFFERING AND THE COMPANY TOKENS DESCRIBED IN THIS OFFERING MEMORANDUM, AND THE COMPANY TOKENS ARE OFFERED SUBJECT TO THE COMPANY’S ABILITY TO REJECT ANY COMMITMENT IN WHOLE OR IN PART. THE COMPANY ALSO HAS THE RIGHT AT ANY TIME, IN ITS SOLE DISCRETION, TO TERMINATE THE OFFER AND SALE OF THE COMPANY TOKENS DESCRIBED IN THIS OFFERING MEMORANDUM FOR REGULATORY REASONS OR OTHERWISE. THE COMPANY TOKENS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT, OR ANY EUROPEAN UNION OR UNITED STATES STATE BLUE SKY SECURITIES LAWS, OR THE LAWS OF ANY OTHER JURISDICTION. THE COMPANY TOKENS WILL BE OFFERED AND SOLD UNDER EXEMPTIONS UNDER THE LAWS OF THE JURISDICTIONS WHERE THE OFFERING WILL BE MADE. CONSEQUENTLY, INVESTORS WILL NOT BE AFFORDED THE PROTECTIONS OF THESE ACTS. A INVETOR SHOULD THOROUGHLY REVIEW THE INFORMATION CONTAINED HEREIN, AND THE TERMS CONTAINED IN THIS OFFERING MEMORANDUM, AND CAREFULLY CONSIDER WHETHER AN INVESTMENT IN THE COMPANY TOKENS IS SUITABLE TO THE INVESTOR’S FINANCIAL SITUATION AND GOALS. CERTAIN ECONOMIC AND MARKET INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM PUBLISHED SOURCES PREPARED BY OTHER PARTIES. WHILE SUCH SOURCES ARE BELIEVED TO BE RELIABLE, THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY FOR THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. NEITHER DELIVERY OF THIS OFFERING MEMORANDUM NOR ANY STATEMENT HEREIN SHOULD BE TAKEN TO IMPLY THAT ANY INFORMATION CONTAINED HEREIN IS CORRECT AS OF ANY TIME SUBSEQUENT TO THE DATE HEREOF. NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, IS MADE BY THE COMPANY AS TO THE REASONABLENESS OR ACCURACY OF THE PROJECTIONS OR ESTIMATES OR MILESTONES AND, AS A RESULT, SUCH PROJECTIONS, ESTIMATES, AND MILESTONES SHOULD BE VIEWED SOLELY AS AN ORDERLY REPRESENTATION OF ESTIMATED RESULTS IF UNDERLYING ASSUMPTIONS ARE REALIZED. INVESTORS SHOULD SUBJECT THE PROJECTIONS, ESTIMATES, AND MILESTONES TO REVIEW BY THEIR OWN PROFESSIONAL ADVISERS. INVETORS SHOULD BEAR IN MIND THAT PAST PERFORMANCE, IF ANY, IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL ACHIEVE COMPARABLE RESULTS.

DISCLAIMERS

INVETORS SHOULD MAKE THEIR OWN INVESTIGATIONS AND EVALUATIONS OF THE COMPANY, INCLUDING THE MERITS AND RISKS INVOLVED IN AN INVESTMENT THEREIN. PRIOR TO ANY INVESTMENT, THE COMPANY WILL GIVE INVESTORS THE OPPORTUNITY TO ASK QUESTIONS OF AND RECEIVE ANSWERS AND ADDITIONAL INFORMATION FROM IT CONCERNING THE TERMS AND CONDITIONS OF THIS OFFERING AND OTHER RELEVANT MATTERS TO THE EXTENT THE COMPANY POSSESSES THE SAME OR CAN ACQUIRE IT WITHOUT UNREASONABLE EFFORT OR EXPENSE. THIS OFFERING MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, THE COMPANY TOKENS IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL TO MAKE SUCH AN OFFER OR SOLICITATION. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER FEDERAL, STATE, OR FOREIGN REGULATORY AUTHORITY (INCLUDING ANY EUROPEAN UNION AUTHORITY, CANADIAN SECURITIES ADMINISTRATION, THE MONETARY AUTHORITY OF SINGAPORE, CAYMAN ISLANDS MONETARY AUTHORITY, THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NEW ZEALAND FINANCIAL MARKET AUTHORITY, GIBRALTAR FINANCIAL SERVICES COMMISSION, SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY, SECURITIES & FUTURES COMMISSION OF HONG KONG, ISRAEL SECURITIES AUTHORITY, OR SECURITIES AND EXCHANGE SURVEILLANCE COMMISSION OF JAPAN) HAS APPROVED THE OFFERING, THIS OFFERING MEMORANDUM AND/OR AN INVESTMENT IN THE COMPANY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS OFFERING MEMORANDUM, NOR IS IT INTENDED THAT THE FOREGOING AUTHORITIES WILL DO SO. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. NOTE ON FORWARD-LOOKING STATEMENTS CERTAIN STATEMENTS IN THIS OFFERING MEMORANDUM CONSTITUTE FORWARD- LOOKING STATEMENTS. WHEN USED IN THIS OFFERING MEMORANDUM, THE WORDS “MAY,” “WILL,” “SHOULD,” “PROJECT,” “ANTICIPATE,” “BELIEVE,” “ESTIMATE,” “INTEND,” “EXPECT,” “CONTINUE,” AND SIMILAR EXPRESSIONS OR THE NEGATIVES THEREOF ARE GENERALLY INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS, INCLUDING THE INTENDED ACTIONS AND PERFORMANCE OBJECTIVES OF THE COMPANY, INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE, OR ACHIEVEMENTS OF THE COMPANY TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE, OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. NO REPRESENTATION OR WARRANTY IS MADE AS TO FUTURE PERFORMANCE OR SUCH FORWARD-LOOKING STATEMENTS. ALL FORWARD- LOOKING STATEMENTS IN THIS OFFERING MEMORANDUM SPEAK ONLY AS OF THE DATE HEREOF. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD- LOOKING STATEMENT CONTAINED HEREIN TO REFLECT ANY CHANGE IN ITS EXPECTATION WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED. INVETORS ARE NOT TO CONSTRUE THIS OFFERING MEMORANDUM AS INVESTMENT, LEGAL, TAX, REGULATORY, FINANCIAL, ACCOUNTING, OR OTHER ADVICE, AND THIS OFFERING MEMORANDUM IS NOT INTENDED TO PROVIDE THE SOLE BASIS FOR ANY EVALUATION OF AN INVESTMENT IN THE COMPANY TOKENS. PRIOR TO ACQUIRING THE COMPANY TOKENS, A INVETOR SHOULD CONSULT WITH ITS OWN LEGAL, INVESTMENT, TAX, ACCOUNTING, AND OTHER ADVISORS TO DETERMINE THE POTENTIAL BENEFITS, BURDENS, AND OTHER CONSEQUENCES OF SUCH INVESTMENT. IN ADDITION TO THE OTHER RISKS DESCRIBED ELSEWHERE IN THIS OFFERING MEMORANDUM, IMPORTANT FACTORS TO CONSIDER IN EVALUATING THE FORWARD- LOOKING STATEMENTS INCLUDE: (I) CHANGES IN EXTERNAL COMPETITIVE MARKET FACTORS WHICH MIGHT IMPACT TRENDS IN THE COMPANY’S RESULTS OF OPERATIONS; (II) CHANGES IN

Offering Memorandum

DISCLAIMERS

WORKING CAPITAL AND OTHER CASH REQUIREMENTS; (III) GENERAL CHANGES IN THE INDUSTRY IN WHICH THE COMPANY COMPETES; (IV) FAILURE TO OBTAIN FROM THIRD-PARTY PAYERS ADEQUATE PAYMENT FOR OUR PRODUCTS; AND (V) VARIOUS OTHER COMPETITIVE OR REGULATORY FACTORS THAT MAY PREVENT THE COMPANY FROM COMPETING SUCCESSFULLY IN THE MARKETPLACE. IN LIGHT OF THESE RISKS AND UNCERTAINTIES, ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS OFFERING MEMORANDUM. INVESTING IN THE COMPANY TOKENS INVOLVES RISKS. INVETORS SHOULD REFER TO THE “RISK FACTORS” DISCLOSURE CONTAINED IN THIS OFFERING MEMORANDUM FOR ADDITIONAL INFORMATION CONCERNING THESE RISKS. CERTAIN NOTICES THIS OFFERING MEMORANDUM CONTAINS INFORMATION REGARDING THE OPPORTUNITY TO PURCHASE THE COMPANY TOKENS, IN THE FORM OF DIGITAL TOKENS. INVETORS SHOULD NOTE THAT AN INVESTMENT IN THE COMPANY SHALL ENTITLE THEM TO A BENEFICIAL INTEREST IN THE COMPANY. TOKEN HOLDERS THIS OFFERING MEMORANDUM IS TO BE USED BY THE PERSON SOLELY IN CONNECTION WITH THE CONSIDERATION OF THE PURCHASE OF THE COMPANY TOKENS DESCRIBED HEREIN. ALL RECIPIENTS AGREE THAT THEY WILL USE THIS OFFERING MEMORANDUM FOR THE SOLE PURPOSE OF EVALUATING A POSSIBLE INVESTMENT IN THE COMPANY TOKENS. ACCEPTANCE OF THIS OFFERING MEMORANDUM BY INVETORS CONSTITUTES AN AGREEMENT TO BE BOUND BY THE FOREGOING TERMS. INVETORS SHOULD INFORM THEMSELVES AS TO THE LEGAL REQUIREMENTS AND TAX CONSEQUENCES WITHIN THE COUNTRIES OF THEIR CITIZENSHIP, RESIDENCE, DOMICILE, AND PLACE OF BUSINESS WITH RESPECT TO THE ACQUISITION, HOLDING, OR DISPOSAL OF THE COMPANY TOKENS, AND ANY FOREIGN EXCHANGE RESTRICTIONS THAT MAY BE RELEVANT THERE TO THE DISTRIBUTION OF THIS OFFERING MEMORANDUM AND THE OFFER AND SALE OF THE COMPANY TOKENS IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. IN COMPLIANCE WITH U.S. AND INTERNATIONAL TRADE LAWS, PROSPECTIVE PURCHASERS LOCATED IN, UNDER THE CONTROL OF, OR A NATIONAL OR RESIDENT OF ANY RESTRICTED LOCATION OR COUNTRY TO WHICH THE UNITED STATES HAS EMBARGOED GOODS OR SERVICES (INCLUDING IRAN, NORTH KOREA, SUDAN, SYRIA, AND THE CRIMEA REGION OF THE UKRAINE), ARE PROHIBITED FROM PARTICIPATING IN THE OFFERING. THE COMPANY TOKENS WILL NOT BE OFFERED IN RESTRICTED/ PROHIBITED JURISDICTIONS INCLUDING, BUT NOT LIMITED TO, CUBA, IRAN, NORTH KOREA, SOMALIA, LIBYA, LEBANON, CHINA, SOUTH KOREA, MACAU, SUDAN, SYRIA, AND THE CRIMEA REGION OF THE UKRAINE. STATEMENTS IN THIS OFFERING MEMORANDUM REGARDING THE COMPANY’S INVESTMENT FOCUS, TARGETS, AND SIZE OF EXPECTED TRANSACTIONS, SPECIFIC OR GENERAL STRATEGIES AND SIMILAR STATEMENTS ARE NOT LIMITATIONS, AND THE GOVERNING DOCUMENTS OF THE COMPANY WILL PROVIDE FLEXIBILITY TO INVEST OUTSIDE OF THE PARAMETERS AND TERMS DESCRIBED HEREIN. STATEMENTS CONTAINED HEREIN THAT ARE ATTRIBUTABLE TO THE COMPANY, OR OTHER PERSONNEL ARE NOT MADE IN ANY PERSON’S INDIVIDUAL CAPACITY, BUT RATHER BY THE COMPANY.

DISCLAIMERS

STATEMENTS CONTAINED IN THIS OFFERING MEMORANDUM THAT ARE NOT HISTORICAL FACTS ARE BASED ON CURRENT EXPECTATIONS, ESTIMATES, PROJECTIONS, OPINIONS, AND/OR BELIEFS OF THE COMPANY. SUCH STATEMENTS ARE NOT FACTS AND INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER FACTORS. INVETORS SHOULD NOT RELY ON THESE STATEMENTS AS IF THEY WERE FACT. THE COMPANY DOES NOT HOLD ITSELF TO BE A BANK AS DEFINED UNDER THE BANKING ACT OF 1933 OR ANY OTHER APPLICABLE LAW OR REGULATION IN THE UNITED STATES OR ANY OTHER JURISDICTIONS. NOTHING MENTIONED IN THIS OFFERING MEMORANDUM OR ANY OTHER DOCUMENT ISSUED BY THE COMPANY IN RELATION TO THIS OFFERING OR ITS BUSINESS SHALL BE CONSTRUED TO MEAN THAT THE COMPANY IS A BANK UNDER THE BANKING ACT OF 1933 OR ANY OTHER APPLICABLE LAW IN THE UNITED STATES OR ANY OTHER JURISDICTION. OFFER IN RELIANCE ON THE EXEMPTION PURSUANT TO REGULATION D AND REGULATION S OF THE SECURITIES ACT THE OFFER OF THE COMPANY TOKENS IN THE UNITED STATES IS BEING MADE PURSUANT TO RULE 506(C) OF REGULATION D OF THE SECURITIES ACT AND PARTICIPATION IN THE OFFERING IS LIMITED TO (I) INSIDE THE UNITED STATES TO “ACCREDITED INVESTORS” (AS DEFINED UNDER THE SECURITIES ACT, RULE 506 OF REGULATION D AND IN EXHIBIT A OF THIS OFFERING) CONSIDERED “A SAFE HARBOR” FOR THE PRIVATE OFFERING EXEMPTION OF SECTION 4(A)(2) OF THE SECURITIES ACT AS AMENDED AND (II) NON-U.S. PERSONS (AS DEFINED IN SECTION 902 OF REGULATION S UNDER THE SECURITIES ACT) IN AN OFFSHORE TRANSACTION IN RELIANCE ON REGULATION S OF THE SECURITIES ACT. TRANSFER / RESALE RESTRICTIONS THE COMPANY TOKENS ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, AND MAY NOT BE TRANSFERRED OR RESOLD, EXCEPT (A) IF THE HOLDER IS A U.S. PERSON, UNTIL THE LOCK-UP PERIOD ELAPSES, AND, AFTER THE LOCK-UP PERIOD, SUBJECT TO APPLICABLE LAW, SUCH HOLDER SHALL NOT TRANSFER OR SELL THEIR THE COMPANY TOKENS TO ANY U.S. PERSON UNLESS THEY SELL ALL OF THEIR THE COMPANY TOKENS TO A SINGLE U.S. PERSON; (B) IF THE HOLDER IS A NON-U.S. PERSON, TO OTHER NON-U.S. PERSONS OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 903 OR RULE 904 UNDER THE SECURITIES ACT AND THAT DOES NOT INVOLVE ANY U.S. PERSONS AS PURCHASERS OR AS ULTIMATE BENEFICIAL OWNERS OF THE COMPANY TOKENS (WHETHER DIRECTLY OR INDIRECTLY); OR (C) TO THE COMPANY OR ANY SUBSIDIARY THEREOF AND, IN EACH CASE, AS PERMITTED UNDER APPLICABLE LAWS AND REGULATIONS OR PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. ANY TRANSFERS MENTIONED IN (A) AND (B) SHALL BE SUBJECT TO APPROVAL BY AND REGISTRATION WITH THE COMPANY AND SUBMISSION OF ALL DOCUMENTS AS REASONABLY REQUESTED BY THE COMPANY AT THE TIME OF SUCH TRANSFER. IN THE EVENT THAT ANY OF THE COMPANY TOKENS ARE TRANSFERRED IN VIOLATION OF THE ABOVE RESTRICTIONS AND/OR ANY APPLICABLE LAW, THE COMPANY RESERVES THE RIGHT TO REDEEM THE COMPANY TOKENS AT ZERO (0) PRICE FROM THE COMPANY TOKEN HOLDERS. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. SEE “TRANSFER RESTRICTIONS” AND “NOTICE TO INVESTORS.” FURTHERMORE, IN THE EVENT OF A “REDEMPTION” AS MENTIONED IN THIS OFFERING MEMORANDUM, A MAXIMUM OF NINETY-NINE (99) U.S. PERSONS WILL BE REDEEMED. ANTI-MONEY LAUNDERING AND ANTI-TERRORIST FINANCING AS PART OF THE COMPANY’S RESPONSIBILITY TO COMPLY WITH REGULATIONS AIMED AT THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING AND ASSOCIATED INCREASED REGULATORY REQUIREMENTS WITH RESPECT

Offering Memorandum

DISCLAIMERS

TO THE SOURCES OF FUNDS USED IN INVESTMENTS AND OTHER ACTIVITIES, THE COMPANY MAY REQUIRE INVETORS TO PROVIDE DOCUMENTATION VERIFYING, AMONG OTHER THINGS, SUCH INVESTORS’ AND ANY OF THEIR BENEFICIAL OWNERS’ IDENTITIES AND SOURCE AND USE OF FUNDS USED TO PURCHASE ANY INTEREST IN THE COMPANY EITHER AT THE TIME OF THIS OFFERING OR ANY TIME AFTER COMPLETION OF THIS OFFERING. THE COMPANY RESERVES THE RIGHT TO REQUEST SUCH IDENTIFICATION EVIDENCE IN RESPECT TO A TRANSFEREE OF THE COMPANY TOKENS. IN THE EVENT OF DELAY OR FAILURE BY A SUBSCRIBER OR TRANSFEREE TO PRODUCE ANY INFORMATION REQUIRED FOR VERIFICATION PURPOSES, THE COMPANY MAY (I) IN THE CASE OF A SUBSCRIPTION, REFUSE TO ACCEPT OR DELAY THE ACCEPTANCE OF ANY SUBSCRIPTION, (II) IN THE CASE OF A TRANSFER OF THE COMPANY TOKENS, REFUSE TO REGISTER THE RELEVANT TRANSFER OF THE COMPANY TOKENS, (III) IN THE CASE OF A CAPITAL CONTRIBUTION FOR THE COMPANY TOKENS, REFUSE TO ALLOT THE COMPANY TOKENS SUBSCRIBED FOR, IN WHICH EVENT CONTRIBUTION MONIES WILL BE RETURNED WITHOUT INTEREST TO THE ACCOUNT FROM WHICH SUCH MONIES WERE ORIGINALLY DEBITED, OR (IV) CAUSE THE WITHDRAWAL OF ANY SUCH COMPANY TOKENS. THE COMPANY ALSO RESERVES THE RIGHT TO REFUSE TO MAKE ANY WITHDRAWAL PAYMENT OR DISTRIBUTION TO AN INVESTOR, IF THE COMPANY SUSPECTS OR IS ADVISED THAT THE PAYMENT OF ANY WITHDRAWAL OR DISTRIBUTION MONIES TO SUCH INVESTOR MIGHT RESULT IN A BREACH OR VIOLATION OF ANY APPLICABLE ANTI-MONEY LAUNDERING OR ANTI- TERRORIST FINANCING LAWS. REQUESTS FOR DOCUMENTATION AND ADDITIONAL INFORMATION MAY BE MADE AT ANY TIME DURING WHICH AN INVESTOR HOLDS AN INTEREST IN THE COMPANY. THE COMPANY WILL TAKE SUCH STEPS AS IT DETERMINES ARE NECESSARY TO COMPLY WITH APPLICABLE LAWS, REGULATIONS, ORDERS, DIRECTIVES, OR SPECIAL MEASURES TO IMPLEMENT ANTI MONEY LAUNDERING AND ANTI- TERRORISM LAWS. BY PURCHASING THE COMPANY TOKENS, A POTENTIAL INVESTOR CONSENTS TO THE DISCLOSURE BY THE COMPANY OF ANY INFORMATION ABOUT THEM TO REGULATORS AND OTHERS UPON REQUEST IN CONNECTION WITH MONEY LAUNDERING TERRORIST FINANCING, AND SIMILAR MATTERS IN ALL APPLICABLE JURISDICTIONS. THE PROVISIONS SET OUT HEREIN ARE WITHOUT PREJUDICE TO THE PROVISIONS RELATING TO ANTI-MONEY LAUNDERING CONTAINED IN ANY THE COMPANY SUBSCRIPTION AGREEMENT WHICH AN INVESTOR SHALL SIGN IN CONNECTION WITH ITS SUBSCRIPTION TO THE COMPANY TOKENS, EACH OF WHICH INVESTORS WILL BE BOUND BY. DISCLOSURE OF INFORMATION TO REGULATORY AUTHORITIES THE COMPANY MAY BE COMPELLED TO PROVIDE INFORMATION, SUBJECT TO A REQUEST FOR INFORMATION MADE BY A REGULATORY OR GOVERNMENTAL AUTHORITY OR AGENCY UNDER APPLICABLE LAW (E.G., BY A MONETARY AUTHORITY, EITHER FOR ITSELF OR FOR A RECOGNIZED OVERSEAS REGULATORY AUTHORITY, UNDER THE MONETARY AUTHORITY LAW (AS REVISED) OR BY A TAX AUTHORITY OR REPORTING OF SAVINGS INCOME INFORMATION (EUROPEAN UNION) LAW (AS REVISED) AND ASSOCIATED REGULATIONS, AGREEMENTS, ARRANGEMENTS, AND MEMORANDA OF UNDERSTANDING). DISCLOSURE OF CONFIDENTIAL INFORMATION UNDER SUCH LAWS SHALL NOT BE REGARDED AS A BREACH OF ANY DUTY OF CONFIDENTIALITY AND, IN CERTAIN CIRCUMSTANCES, THE COMPANY MAY BE PROHIBITED FROM DISCLOSING THAT THE REQUEST HAS BEEN MADE. GLX IS COMMITTED TO THE HIGHEST STANDARDS OF CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY.

TA BLE O F C ON TEN TS MISSION 02 OFFERING INTRODUCTION

DISCLAIMERS 10 OVERVIEW 18 IDENTIFIERS 19 DESCRIPTION OF CAPITAL

TERMS OF SECURITIES

SUMMARY OF OFFERING

38 PROBLEM

SOLUTION 42 WHY NOW 45 MARKET SIZE 46 COMPETITION 48 COMPETITORS 50 COMPETITIVE ADVANTAGE 52

TECH STACK 56

MILESTONES & ROADMAP

INTELLECTUAL PROPERTY 66 TEAM 68

THE PRODUCT

BUSINESS MODEL

74 VALUATION

FINANCIALS 72

USE OF PROCEEDS

LEARN MORE 76 CORPORATE DISCLOSURES 84 TAX CONSIDERATIONS

KYC / AML / CTF POLICIES

RISK FACTORS

110 126 NOTICE TO INVESTORS

SAFE HARBOR

TABLE OF C ON TEN TS

OVERVIEW

O VE RVI E W GLX (Global Listing Exchange) is building the world’s only blockchain-powered Capital Market Directory and Social Finance Network at GLX.com. The destination is a global capital market news data portal and ground-breaking financial networking platform. GLX will revolutionize the way each and every member of the world’s capital markets connects, communicates, shares, and accesses information. MISSION Our mission is to make the world’s capital markets more transparent, open, and connected. CORPORATE GLX, Inc. is a Nevada C corporation, formed on April 13, 2015. GLX has created security To ke n s , r e p r e s e n t i n g t h e e q u i t y o w n e r s h i p i n G L X . W e h a v e P C A O B ( Pu b l i c C o m p a ny A c c o u n t i n g O ve r s i g h t B o a rd ) a u d i t e d f i n a n c i a l s t a t e m e n t s f o r 2 0 1 5 a n d 2 0 1 6 a n d a r e i n t h e p r o c e s s o f c o m p l e t i n g 2 0 1 7 a n d 2 0 1 8. U p o n c o m p l e t i o n w e expect to file a registration statement with the U.S. Securities and Exchange Commission ( S E C ) f o r a T i e r I I R e g A + C r o w d f u n d i n g o f f e r i n g i n t h e s e c o n d q u a r t e r o f 2 0 1 9. G L X w i l l s e e k a re g u l a t e d s e c u r i t y t o k e n exc h a n g e l i s t i n g s h o r t l y t h e r e a f t e r . OFFICES Our principal executive offices are located in Palm Beach, Florida and Sheridan, Wyoming. We have additional development offices in Medellin, Colombia and Freehold, New Jersey as well as remote employees and contractors in the U.S., Caribbean, Europe, and Asia. O u r m a i l i n g a d d r e s s i s 3 4 0 R oya l Po i n c i a n a Way, S t e 3 1 7 - 3 3 5, Pa l m B e a c h , F L 3 3 4 8 0. O u r t e l e p h o n e n u m b e r i s + 1 8 5 5 G L X I N T L ( + 1 8 5 5 4 5 9 4 6 8 5 ) o r + 1 3 0 7 2 9 8 9 3 1 5. O u r e - m a i l address is info@GLX.com.

I N T E L L I G E N C E • I D E N T I T Y • I N T E R AC T I O N I N F R A ST R U C T U R E • I N N OVAT I O N

Offering Memorandum

IDENTIFIERS

IDE NT I FI ERS - C OMPAN Y U S E I N # C I K # N V B U S I N E S S I D #

4 7 - 3 7 81 9 81 0 0 0 1 6 4 9 7 81 N V 2 0 1 51 2 2 8 5 4 2 I S I N # F I N S # D & B #

U S 3 6 2 5 2 U 1 0 2 5 3 5 3 5 7 3 0 5 2 3 7 6 0 8 7 G LO B A L M A R K E T E N T I T Y I D E N T I F I E R ( G M E I ) / L E G A L E N T I T Y I D E N T I F I E R ( L E I )

5 4 9 3 0 0 M G O I YQ 1 O U 4 V N 61

IDE NT I FI ERS - SECURITIE S C U S I P # N A S DAQ / P O LY M AT H N E T WO R K T O K E N 3 6 2 5 2 U 1 0 2 G L X ( R E S E RV E D ) G L X T ( KO M O D O ) S E C U R I T Y T O K E N S E C U R I T Y T O K E N S E C U R I T Y T O K E N X ( P O LY M AT H ) X A ( P O LY M AT H ) XS ( P O LY M AT H )

PA L M B E A C H • S H E R I D A N • M E D E L L Í N • P O C K I N G

G L X .C O M 19

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS

DE S C R IPTI ON O F CAPITAL AN D REL AT ED PROV I SI O NS T h i s s e c t i o n c o n t a i n s a d e s c r i p t i o n o f o u r c a p i t a l s t r u c t u re a n d a l l re l a t e d p rov i s i o n s . T h e fo l l o w i n g d i s c u s s i o n i s n o t m e a n t t o b e c o m p l e t e a n d i s q u a l i f i e d by re fe re n c e t o o u r C o m p a ny ’s a r t i c l e s o f i n c o r p o ra t i o n ( “A r t i c l e s o f I n c o r p o ra t i o n ” ) a n d by l a w s ( “ B y l a w s ” ) t h a t w e d e s c r i b e h e re i n . H e re i s a b r i e f ove r v i e w o f e q u i t y / d e b t / u t i l i t y c l a s s e s o f w h i c h yo u s h o u l d b e i m m e d i a t e l y a wa re o f : EQUITY

DEBT

UTILITY

DEFINITION

Tokens which function as a traditional stock asset. They represent ownership of GLX, Inc. and take their value from its success or failure.

Instruments / tokens which represent the outstanding debts and liabilities of GLX, Inc. They take their value from the its debt, its interest, and its creditworthiness.

Platform-dedicated tokens which serve as the medium or “coupon” for the GLX platform services. They take their value from the value of the platform.

REAL WORLD ANALOGUE

Stocks, futures, and options contracts

Bonds, mortgages

Arcade tokens

REGULATORY APPROACH

Treated as a standard securities Treated as a standard debt No concrete direction by the transaction by the SEC. security transaction by the SEC. SEC, although the commission is skeptical of this category’s legitimacy.

GLX

GLX Class A Common Equity Tokens (X) - U.S.

GLX does not have any outstanding debt instruments.

GLX Network Token (GLXT)

GLX Class A Common Equity Tokens (XA) - Non-U.S. GLX Class B Common Equity Tokens (XS) - Super Voting

•

G L X C l a s s A C o m m o n E q u i t y To ke n s ( X ) h a ve b e e n i s s u e d t o o u r fo u n d e r, e m p l oye e s , c o n s u l t a n t s , a n d s t ra t e g i c p a r t n e rs .

•

G L X C l a s s A C o m m o n E q u i t y To ke n s ( X ) h a ve b e e n i s s u e d t o i nve s t o rs i n t h e U . S . i n p a s t p r i va t e p l a c e m e n t s p u rs u a n t

Offering Memorandum

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS to Regulation D Rule 506(b). •

G L X C l a s s A C o m m o n E q u i t y To ke n s ( X ) w i l l b e i s s u e d i n t h i s O f fe r i n g i n t h e U . S .

•

5 m i l l i o n G L X C l a s s A C o m m o n E q u i t y To ke n s ( X X ) w i l l b e i s s u e d i n t h e R e g S o f fe r i n g o u t s i d e o f t h e U . S .

•

1 m i l l i o n G L X C l a s s A C o m m o n E q u i t y To ke n s ( X X ) w i l l b e i s s u e d a n d re s e r ve d fo r b o u n t i e s a n d b o n u s e s i n t h e R e g S o f fe r i n g o u t s i d e o f t h e U . S .

•

G L X C l a s s B C o m m o n E q u i t y To ke n s ( XS ) - S u p e r Vo t i n g h a ve b e e n i s s u e d t o o u r fo u n d e r.

•

G L X N e t wo r k To ke n s ( G L X T ) h a ve b e e n i s s u e d t o o u r fo u n d e r, e m p l oye e s , c o n s u l t a n t s , s t ra t e g i c p a r t n e rs , a n d m e m b e rs o f t h e G L X n e t wo r k . G L X Ts a re p u re u t i l i t y t o ke n s a n d d o n o t re p re s e n t a ny ow n e rs h i p i n G L X .

GLX ENTITIES

GLX, Inc.

GLX IP, LLC

( N e va d a )

( Fl o r i d a )

GLX Data Services, LLC

Grupo GLX S.A.S.

GLX Token Services, LLC

The GLX Foundation, Inc.

( Fl o r i d a )

(Colombia)

( W yo m i n g )

• G L X , I n c . ( “ G L X ” ) i s a N e va d a C c o r p o ra t i o n , fo r m e d o n A p r i l 1 3, 2 0 1 5. G L X i s t h e m a i n o p e ra t i n g c o m p a ny. • G L X I P, L LC ( “ G L X I P ” ) i s a Fl o r i d a l i m i t e d l i a b i l i t y c o m p a ny, fo r m e d o n A p r i l 1 3, 2 0 1 5. G L X I P i s a n i n t e l l e c t u a l p ro p e r t y h o l d i n g c o m p a ny w h i c h o w n s a l l G L X re l a t e d i n t e l l e c t u a l p ro p e r t y. 21

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS • G L X D a t a S e r v i c e s , L LC ( “ G D S ” ) i s a Fl o r i d a l i m i t e d l i a b i l i t y c o m p a ny, fo r m e d o n M a rc h 1, 2 0 1 6. G D S i s a 1 0 0 % w h o l l y o w n e d s u b s i d i a r y o f G L X . • G r u p o G L X S . A . S . ( “ G r u p o G L X ” ) i s a C o l o m b i a n s i m p l i f i e d s t o c k c o r p o ra t i o n , fo r m e d o n D e c e m b e r 1 3, 2 0 1 7. G r u p o G L X i s a re l a t e d s t a n d a l o n e e n t i t y c re a t e d t o fa c i l i t a t e G L X ’s d e ve l o p m e n t i n S p a n i s h s p e a k i n g re g i o n s . I n 2 0 1 9 G r u p o G L X w i l l l i k e l y b e c o m e a 1 0 0 % w h o l l y o w n e d s u b s i d i a r y. • G L X To ke n S e r v i c e s , L LC ( “ G T S ” ) i s a W yo m i n g l i m i t e d l i a b i l i t y c o m p a ny, fo r m e d o n M a y 2 3, 2 0 1 8. G T S i s a j o i n t ve n t u re t h a t i s re s p o n s i b l e fo r t h e G L X N e t w o r k To k e n e c o sys t e m . • T h e G L X Fo u n d a t i o n , I n c . ( “ G L X Fo u n d a t i o n ” ) i s a W yo m i n g 5 0 1 ( c ) ( 3 ) c o r p o ra t i o n , fo r m e d o n J u n e 2 9, 2 0 1 8. T h e G L X Fo u n d a t i o n i s a c o m m u n i t y d r i ve n e n t e r p r i s e c re a t e d t o s u p p o r t the GLX mission. FOUNDERS EQUITY G L X ’s i n i t i a l c a p i t a l c o n s i s t e d o f 2 0 m i l l i o n C o m m o n E q u i t y To k e n s a s fo l l o w s : • 1 0 m i l l i o n C l a s s A C o m m o n E q u i t y To k e n s c o n t a i n i n g o n e vo t e p e r - t o k e n ; a n d • 1 0 m i l l i o n C l a s s B C o m m o n E q u i t y To k e n s c o n t a i n i n g t e n vo t e s p e r - t o k e n T h e C l a s s B To k e n s c a n c o nve r t t o C l a s s A To k e n s o n a o n e - t o - o n e - b a s i s a t t h e e l e c t i o n o f t h e h o l d e r. O n A p r i l 1 5, 2 0 1 5 G L X e n t e re d i n t o a l i c e n s e a g re e m e n t w i t h G L X I P fo r exc l u s i ve l i c e n s i n g r i g h t s fo r t h e u s e o f t h e n a m e “ G L X “ a s w e l l a s a l l G L X re l a t e d i n t e l l e c t u a l p ro p e r t y. G L X i s s u e d G L X I P 7.5 m i l l i o n C l a s s A C o m m o n E q u i t y To k e n s p u r s u a n t t o t h e l i c e n s i n g a g re e m e n t . O u r Fo u n d e r, R o n a l d P. R u s s o , J r. ( “ M r. R u s s o ” ) , wa s i s s u e d t h e re m a i n i n g 2.5 m i l l i o n C l a s s A C o m m o n E q u i t y To k e n s a n d t h e 1 0 m i l l i o n C l a s s B C o m m o n E q u i t y To k e n s . A t t h e t i m e M r. R u s s o wa s , a n d s t i l l i s , t h e s o l e d i re c t o r o f G L X . A t t h e t i m e o f i n c e p t i o n t h e b o a rd o f d i re c t o r s ( t h e “ B o a rd ” ) i n i t i a l l y p l a c e d a n e s t i m a t e o f $ 0.3 9 p e r - t o k e n o n G L X ’s 2 0 m i l l i o n o u t s t a n d i n g C o m m o n To k e n s e s t a b l i s h i n g a p re - m o n e y va l u a t i o n o f $ 7.8 m i l l i o n U S D . G D S , G r u p o G L X , G T S , a n d t h e G L X Fo u n d a t i o n d o n o t , a n d h a ve n e ve r, h e l d a ny e q u i t y, o f a ny class, in GLX. AUTHORIZED EQUITY CAPITAL Our authorized equity capital consists of:

Offering Memorandum

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS • 1 0 0,0 0 0,0 0 0 C l a s s A C o m m o n E q u i t y To k e n s ( $ 0.0 0 0 1 p a r va l u e p e r - t o k e n ) • 1 0,0 0 0,0 0 0 C l a s s B C o m m o n E q u i t y To k e n s ( $ 0.0 0 0 1 p a r va l u e p e r - t o k e n ) • 1 0,0 0 0,0 0 0 u n d e s i g n a t e d p re fe r re d t o k e n s , ( $ 0.0 0 0 1 p a r va l u e p e r - t o k e n ) EQUITY ISSUANCES AND RESERVATIONS 2 0 1 5 Lo n g -Te r m E q u i t y I n c e n t i ve P l a n O n A p r i l 1 5, 2 0 1 5 t h e B o a rd a d o p t e d o u r 2 0 1 5 Lo n g -Te r m E q u i t y I n c e n t i ve P l a n ( t h e “ 2 0 1 5 P l a n ” ) . T h e p u r p o s e o f t h e P l a n i s t o p ro m o t e t h e l o n g - t e r m g ro w t h a n d p ro f i t a b i l i t y o f G L X by p rov i d i n g a d d i t i o n a l i n c e n t i ve fo r d i re c t o r s , o f f i c e r s , e m p l oye e s a n d c o n s u l t a n t s t h ro u g h t h e o w n e rs h i p o f t h e C o m p a ny ’s To k e n s o r o t h e r r i g h t s t o s u c h . T h e P l a n re s e r ve s 1 5 m i l l i o n C l a s s A C o m m o n E q u i t y To ke n s t o b e i s s u e d a t va r i o u s s t r i k e prices to be determined. A s o f D e c e m b e r 3 1, 2 0 1 8 a t o t a l o f 2,8 6 3,3 74 o p t i o n s h a ve b e e n i s s u e d w i t h a t o t a l s t r i k e p r i c e o f $ 1,0 7 9,7 1 5.8 6 t o exe rc i s e s a i d o p t i o n s a n d a t o t a l o f 4 ,6 3 5,8 8 8 C l a s s A C o m m o n E q u i t y To ke n s a n d 4 m i l l i o n C l a s s B C o m m o n E q u i t y To k e n s h a ve b e e n i s s u e d o u t t o c o n s u l t a n t s , a d v i s o rs , e t c . u n d e r t h e p l a n . P r i va t e P l a c e m e n t s O n J u l y 1 5, 2 0 1 5 t h e B o a rd a p p rove d a P r i va t e P l a c e m e n t o f u p t o 6,41 0,2 5 6 To k e n s p u r s u a n t t o R e g u l a t i o n D R u l e 5 0 6 ( b ) a t $ 0.3 9 p e r - t o k e n . T h e B o a rd re s e r ve d t h e r i g h t t o i n c re a s e t h e a m o u n t o f To ke n s i n t h i s O f fe r i n g a s w e l l a s t h e r i g h t t o ex t e n d t h e O f fe r i n g p e r i o d . A s o f D e c e m b e r 3 1, 2 0 1 8 a t o t a l o f 11,9 7 2,1 7 5 C l a s s A C o m m o n E q u i t y To k e n s h a ve b e e n i s s u e d a t a p r i c e o f $ 0.3 9 p e r - t o k e n fo r a t o t a l o f $ 4 ,6 9 9,6 4 3.7 7.

A L L T O K E N S I S S U E D T O DAT E A R E H E L D I N O F F - C H A I N L E D G E R E N T RY. N O B LO C KC H A I N T O K E N S H AV E B E E N T R A N S F E R R E D .

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS CAP TABLE TOKENHOLDERS

# OF TOKENS

Management

22,324,758

55.08

Others

18,204,663

44.92

40,529,421

100.00

# OF OPTIONS

EXERCISE COST

2,094,784

$624,465.76

73.16

768,590

$455,250.10

26.84

2,863,374

$1,079,715.86

100.00

# OF TOKENS / OPTIONS

EXERCISE COST

Management

24,419,542

$624,465.76

56.28

Others

18,973,253

$455,250.10

43.72

43,392,795

$1,079,715.86

100.00

TOTALS OPTIONHOLDERS Management Others

TOTALS FULLY DILUTED

TOTALS

COMMON TOKENS Dividend Rights S u b j e c t t o p re fe re n c e s t h a t m a y a p p l y t o p re fe r re d t o k e n s o u t s t a n d i n g a t t h e t i m e , t h e h o l d e r s o f o u t s t a n d i n g To k e n s a re e n t i t l e d t o re c e i ve d i v i d e n d s o u t o f f u n d s l e g a l l y a va i l a b l e i f o u r B o a rd , i n i t s d i s c re t i o n , d e t e r m i n e s t o i s s u e d i v i d e n d s a n d o n l y t h e n a t t h e t i m e s a n d i n t h e a m o u n t s t h a t o u r B o a rd m a y d e t e r m i n e . Vo t i n g R i g h t s T h e h o l d e rs o f o u r C l a s s A C o m m o n E q u i t y To k e n s a re e n t i t l e d t o o n e vo t e p e r - t o k e n , a n d h o l d e rs o f o u r C l a s s B C o m m o n E q u i t y To k e n s a re e n t i t l e d t o t e n vo t e s p e r - t o k e n . T h e h o l d e r s o f o u r C l a s s A C o m m o n E q u i t y To k e n s a n d C l a s s B C o m m o n E q u i t y To k e n s vo t e t o g e t h e r a s a s i n g l e c l a s s , u n l e s s o t h e r w i s e re q u i re d by l a w. N e va d a l a w c o u l d re q u i re e i t h e r h o l d e r s o f o u r C l a s s A C o m m o n E q u i t y To k e n s o r o u r C l a s s B C o m m o n E q u i t y To ke n s t o vo t e s e p a ra t e l y a s a s i n g l e c l a s s i n t h e fo l l o w i n g c i rc u m s t a n c e s : â&#x20AC;¢ i f w e w e re t o s e e k t o a m e n d o u r A r t i c l e s o f I n c o r p o ra t i o n t o d e c re a s e t h e i s s u e d a n d o u t s t a n d i n g n u m b e r o f t o k e n s o f a c l a s s o f e q u i t y t h a t w o u l d a d ve r s e l y a l t e r o r c h a n g e a ny p re fe re n c e , o r a ny re l a t i ve o r o t h e r r i g h t g i ve n t o a ny o t h e r c l a s s o f e q u i t y, t h e n t h a t c l a s s a d ve rs e l y a f fe c t e d w o u l d b e re q u i re d t o vo t e s e p a ra t e l y t o a p p rove t h e p ro p o s e d amendment;

Offering Memorandum

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS • i f w e w e re t o s e e k t o a m e n d o u r A r t i c l e s o f I n c o r p o ra t i o n t o i n c re a s e o r d e c re a s e t h e a u t h o r i z e d n u m b e r o f t o k e n s o f a c l a s s o f e q u i t y t h a t w o u l d a d ve r s e l y a l t e r o r c h a n g e a ny p re fe re n c e , o r a ny re l a t i ve o r o t h e r r i g h t g i ve n t o a ny o t h e r c l a s s o f e q u i t y, t h e n t h a t c l a s s a d ve rs e l y a f fe c t e d w o u l d b e re q u i re d t o vo t e s e p a ra t e l y t o a p p rove t h e p ro p o s e d amendment; and • i f w e w e re t o s e e k t o a m e n d o u r A r t i c l e s o f I n c o r p o ra t i o n i n a m a n n e r t h a t a l t e r s o r c h a n g e s t h e p o w e r s , p re fe re n c e s o r s p e c i a l r i g h t s o f a c l a s s o f e q u i t y i n a m a n n e r t h a t a f fe c t e d i t s h o l d e r s a d ve r s e l y, t h e n t h a t c l a s s w o u l d b e re q u i re d t o vo t e s e p a ra t e l y t o a p p rove t h e p ro p o s e d a m e n d m e n t . To ke n h o l d e rs d o n o t h a ve t h e a b i l i t y t o c u m u l a t e vo t e s fo r t h e e l e c t i o n o f d i re c t o r s . N o P r e e m p t i ve o r S i m i l a r R i g h t s O u r C o m m o n To k e n s a re n o t e n t i t l e d t o p re e m p t i ve r i g h t s a n d a re n o t s u b j e c t t o c o nve r s i o n , re d e m p t i o n o r s i n k i n g f u n d p rov i s i o n s . R i g h t t o R e c e i ve L i q u i d a t i o n D i s t r i b u t i o n s U p o n o u r d i s s o l u t i o n , l i q u i d a t i o n o r w i n d i n g - u p , t h e a s s e t s l e g a l l y a va i l a b l e fo r d i s t r i b u t i o n t o o u r To ke n h o l d e r s a re d i s t r i b u t a b l e ra t a b l y a m o n g t h e h o l d e r s o f o u r C o m m o n To k e n s , s u b j e c t t o p r i o r s a t i s fa c t i o n o f a l l o u t s t a n d i n g d e b t a n d l i a b i l i t i e s a n d t h e p re fe re n t i a l r i g h t s a n d p a y m e n t o f l i q u i d a t i o n p re fe re n c e s , i f a ny, o n a ny o u t s t a n d i n g p re fe r re d t o k e n s . PREFERRED TOKENS We a re a u t h o r i z e d , s u b j e c t t o l i m i t a t i o n s p re s c r i b e d by N e va d a l a w, t o i s s u e p re fe r re d t o k e n s i n o n e o r m o re s e r i e s , t o e s t a b l i s h f ro m t i m e t o t i m e t h e n u m b e r o f t o k e n s t o b e i n c l u d e d i n e a c h s e r i e s a n d t o f i x t h e d e s i g n a t i o n , p o w e r s , p re fe re n c e s a n d r i g h t s o f t h e t o k e n s o f e a c h s e r i e s a n d a ny o f i t s q u a l i f i c a t i o n s , l i m i t a t i o n s o r re s t r i c t i o n s . O u r B o a rd a l s o c a n i n c re a s e o r d e c re a s e t h e n u m b e r o f To k e n s o f a ny s e r i e s , b u t n o t b e l o w t h e n u m b e r o f To k e n s o f t h a t s e r i e s t h e n o u t s t a n d i n g , w i t h o u t a ny f u r t h e r vo t e o r a c t i o n by o u r To k e n h o l d e r s . O u r B o a rd m a y a u t h o r i z e t h e i s s u a n c e o f p re fe r re d t o k e n s w i t h vo t i n g o r c o nve r s i o n r i g h t s t h a t c o u l d a d ve rs e l y a f fe c t t h e vo t i n g p o w e r o r o t h e r r i g h t s o f t h e h o l d e r s o f t h e C o m m o n To k e n s . T h e i s s u a n c e o f p re fe r re d t o k e n s , w h i l e p rov i d i n g f l ex i b i l i t y i n c o n n e c t i o n w i t h p o s s i b l e a c q u i s i t i o n s a n d o t h e r c o r p o ra t e p u r p o s e s , c o u l d , a m o n g o t h e r t h i n g s , h a ve t h e e f fe c t o f d e l a y i n g , d e fe r r i n g o r p re ve n t i n g a c h a n g e i n c o n t ro l o f o u r C o m p a ny a n d m ay a d ve r s e l y a f fe c t t h e m a r k e t p r i c e o f o u r C l a s s A C o m m o n E q u i t y To k e n s a n d t h e vo t i n g a n d o t h e r r i g h t s o f t h e h o l d e r s o f o u r C o m m o n To k e n s . We h a ve n o c u r re n t p l a n t o i s s u e a ny s e r i e s o f p re fe r re d t o ke n s . ANTI-TAKEOVER PROVISIONS

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS

S o l o n g a s t h e o u t s t a n d i n g a m o u n t o f o u r C l a s s B C o m m o n E q u i t y To k e n s re p re s e n t a m a j o r i t y o f t h e c o m b i n e d vo t i n g p o w e r o f C o m m o n To k e n s , M r. R u s s o w i l l e f fe c t i ve l y c o n t ro l a l l m a t t e r s s u b m i t t e d t o o u r To k e n h o l d e rs fo r a vo t e , a s w e l l a s t h e ove ra l l m a n a g e m e n t a n d d i re c t i o n o f o u r C o m p a ny, w h i c h w i l l h a ve t h e e f fe c t o f d e l ay i n g , d e fe r r i n g o r d i s c o u ra g i n g a n o t h e r p e rs o n f ro m a c q u i r i n g c o n t ro l o f o u r C o m p a ny. A f t e r s u c h t i m e a s o u r C l a s s B C o m m o n E q u i t y To k e n s n o l o n g e r re p re s e n t a m a j o r i t y o f t h e c o m b i n e d vo t i n g p o w e r o f o u r C o m m o n To k e n s , t h e p rov i s i o n s o f N e va d a l a w, o u r A r t i c l e s o f I n c o r p o ra t i o n a n d o u r B y l a w s m a y h a ve t h e e f fe c t o f d e l ay i n g , d e fe r r i n g o r d i s c o u ra g i n g a n o t h e r p e rs o n f ro m a c q u i r i n g c o n t ro l o f o u r C o m p a ny. N eva d a A n t i -Ta ke ove r L aw s

C o n t ro l S h a re A c q u i s i t i o n s N e va d a R e v i s e d S t a t u t e s s e c t i o n s 7 8.3 7 8 t o 7 8.3 7 9 p rov i d e s t a t e re g u l a t i o n ove r t h e a c q u i s i t i o n o f a c o n t ro l l i n g i n t e re s t i n c e r t a i n N e va d a c o r p o ra t i o n s u n l e s s t h e a r t i c l e s o f i n c o r p o ra t i o n o r by l a w s o f t h e c o r p o ra t i o n p rov i d e t h a t t h e p rov i s i o n s o f t h e s e s e c t i o n s d o n o t a p p l y. O u r A r t i c l e s o f I n c o r p o ra t i o n a n d B y l a w s d o n o t s t a t e t h a t t h e s e p rov i s i o n s d o n o t a p p l y. T h e s t a t u t e c re a t e s a n u m b e r o f re s t r i c t i o n s o n t h e a b i l i t y o f a p e r s o n o r e n t i t y t o a c q u i re c o n t ro l o f a N e va d a c o m p a ny by s e t t i n g d o w n c e r t a i n r u l e s o f c o n d u c t a n d vo t i n g re s t r i c t i o n s i n a ny a c q u i s i t i o n a t t e m p t , a m o n g o t h e r t h i n g s . T h e s t a t u t e i s l i m i t e d t o c o r p o ra t i o n s t h a t a re o rg a n i z e d i n t h e s t a t e o f N e va d a a n d t h a t h a ve 2 0 0 o r m o re e q u i t y h o l d e rs , a t l e a s t 1 0 0 o f w h o m a re e q u i t y h o l d e r s o f re c o rd a n d re s i d e n t s o f t h e S t a t e o f N e va d a ; a n d d o e s b u s i n e s s i n t h e S t a t e o f N e va d a d i re c t l y o r t h ro u g h a n a f f i l i a t e d c o r p o ra t i o n . B e c a u s e o f t h e s e c o n d i t i o n s , t h e s t a t u t e c u r re n t l y d o e s n o t a p p l y t o o u r C o m p a ny.

Business Combinations T h e “ b u s i n e s s c o m b i n a t i o n ” p rov i s i o n s o f N e va d a R e v i s e d S t a t u t e s s e c t i o n s 7 8.411 t o 7 8.4 4 4 g e n e ra l l y p ro h i b i t a N e va d a c o r p o ra t i o n w i t h a t l e a s t 2 0 0 e q u i t y h o l d e r s o f re c o rd , a “ re s i d e n t d o m e s t i c c o r p o ra t i o n , ” f ro m e n g a g i n g i n va r i o u s “ c o m b i n a t i o n ” t ra n s a c t i o n s w i t h a ny “ i n t e re s t e d e q u i t y h o l d e r ” u n l e s s c e r t a i n c o n d i t i o n s a re m e t o r t h e c o r p o ra t i o n h a s e l e c t e d i n i t s a r t i c l e s o f i n c o r p o ra t i o n t o n o t b e s u b j e c t t o t h e s e p rov i s i o n s . We h a ve n o t e l e c t e d t o o p t o u t o f t h e s e p rov i s i o n s a n d i f w e m e e t t h e d e f i n i t i o n o f re s i d e n t d o m e s t i c c o r p o ra t i o n , n o w o r i n t h e f u t u re , o u r C o m p a ny w i l l b e s u b j e c t t o t h e s e p rov i s i o n s . A “ c o m b i n a t i o n ” i s g e n e ra l l y d e f i n e d t o i n c l u d e ( a ) a m e rg e r o r c o n s o l i d a t i o n o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n o r a ny s u b s i d i a r y o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n w i t h t h e i n t e re s t e d e q u i t y h o l d e r o r a f f i l i a t e o r a s s o c i a t e o f t h e i n t e re s t e d e q u i t y h o l d e r ; ( b ) a ny s a l e , l e a s e , exc h a n g e , m o r t g a g e , p l e d g e , t ra n s fe r, o r o t h e r d i s p o s i t i o n , i n o n e t ra n s a c t i o n o r a s e r i e s o f t ra n s a c t i o n s , by t h e re s i d e n t d o m e s t i c c o r p o ra t i o n o r a ny s u b s i d i a r y o f t h e

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DESCRIPTION OF CAPITAL AND RELATED PROVISIONS re s i d e n t d o m e s t i c c o r p o ra t i o n t o o r w i t h t h e i n t e re s t e d e q u i t y h o l d e r o r a f f i l i a t e o r a s s o c i a t e o f t h e i n t e re s t e d e q u i t y h o l d e r h a v i n g : ( i ) a n a g g re g a t e m a r k e t va l u e e q u a l t o 5 % o r m o re o f t h e a g g re g a t e m a r k e t va l u e o f t h e a s s e t s o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n , ( i i ) a n a g g re g a t e m a r ke t va l u e e q u a l t o 5 % o r m o re o f t h e a g g re g a t e m a r k e t va l u e o f a l l o u t s t a n d i n g e q u i t y o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n , o r ( i i i ) 1 0 % o r m o re o f t h e e a r n i n g p o w e r o r n e t i n c o m e o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n ; ( c ) t h e i s s u a n c e o r t ra n s fe r i n o n e t ra n s a c t i o n o r s e r i e s o f t ra n s a c t i o n s o f t o ke n s o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n o r a ny s u b s i d i a r y o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n h a v i n g a n a g g re g a t e m a r k e t va l u e e q u a l t o 5 % o r m o re o f t h e re s i d e n t d o m e s t i c c o r p o ra t i o n t o t h e i n t e re s t e d e q u i t y h o l d e r o r a f f i l i a t e o r a s s o c i a t e o f t h e i n t e re s t e d e q u i t y h o l d e r ; a n d ( d ) c e r t a i n o t h e r t ra n s a c t i o n s w i t h a n i n t e re s t e d e q u i t y h o l d e ro r a f f i l i a t e o r a s s o c i a t e o f t h e i n t e re s t e d e q u i t y h o l d e r. A n “ i n t e re s t e d e q u i t y h o l d e r ” i s g e n e ra l l y d e f i n e d a s a p e r s o n w h o , t o g e t h e r w i t h a f f i l i a t e s a n d a s s o c i a t e s , o w n s ( o r w i t h i n t h re e ye a r s , d i d o w n ) 1 0 % o r m o re o f a c o r p o ra t i o n ’s vo t i n g e q u i t y. A n “ a f f i l i a t e ” o f t h e i n t e re s t e d e q u i t y h o l d e r i s a ny p e r s o n t h a t d i re c t l y o r i n d i re c t l y t h ro u g h o n e o r m o re i n t e r m e d i a r i e s i s c o n t ro l l e d by o r i s u n d e r c o m m o n c o n t ro l w i t h t h e i n t e re s t e d e q u i t y h o l d e r. A n “ a s s o c i a t e ” o f a n i n t e re s t e d e q u i t y h o l d e r i s a ny ( a ) c o r p o ra t i o n o r o rg a n i z a t i o n o f w h i c h t h e i n t e re s t e d e q u i t y h o l d e r i s a n o f f i c e r o r p a r t n e r o r i s d i re c t l y o r i n d i re c t l y t h e b e n e f i c i a l o w n e r o f 1 0 % o r m o re o f a ny c l a s s o f vo t i n g e q u i t y o f s u c h c o r p o ra t i o n o r o rg a n i z a t i o n ; ( b ) t r u s t o r o t h e r e s t a t e i n w h i c h t h e i n t e re s t e d e q u i t y h o l d e r h a s a s u b s t a n t i a l b e n e f i c i a l i n t e re s t o r a s t o w h i c h t h e i n t e re s t e d e q u i t y h o l d e r s e r ve s a s t r u s t e e o r i n a s i m i l a r f i d u c i a r y c a p a c i t y ; o r ( c ) re l a t i ve o r s p o u s e o f t h e i n t e re s t e d e q u i t y h o l d e r, o r a ny re l a t i ve o f t h e s p o u s e o f t h e i n t e re s t e d e q u i t y h o l d e r, w h o h a s t h e s a m e h o m e a s t h e i n t e re s t e d e q u i t y h o l d e r. I f a p p l i c a b l e , t h e p ro h i b i t i o n i s fo r a p e r i o d o f t w o ye a r s a f t e r t h e d a t e o f t h e t ra n s a c t i o n i n w h i c h t h e p e rs o n b e c a m e a n i n t e re s t e d e q u i t y h o l d e r, u n l e s s s u c h t ra n s a c t i o n i s a p p rove d by t h e b o a rd o f d i re c t o r s p r i o r t o t h e d a t e t h e i n t e re s t e d e q u i t y h o l d e r o b t a i n e d s u c h s t a t u s ; o r t h e c o m b i n a t i o n i s a p p rove d by t h e b o a rd o f d i re c t o r s a n d t h e re a f t e r i s a p p rove d a t a m e e t i n g o f t h e e q u i t y h o l d e rs by t h e a f f i r m a t i ve vo t e o f e q u i t y h o l d e r s re p re s e n t i n g a t l e a s t 6 0 % o f t h e o u t s t a n d i n g vo t i n g p o w e r h e l d by d i s i n t e re s t e d e q u i t y h o l d e r s ; a n d ex t e n d s b e yo n d t h e ex p i ra t i o n o f t h e t w o - ye a r p e r i o d , u n l e s s ( a ) t h e c o m b i n a t i o n wa s a p p rove d by t h e b o a rd o f d i re c t o rs p r i o r t o t h e p e r s o n b e c o m i n g a n i n t e re s t e d e q u i t y h o l d e r ; ( b ) t h e t ra n s a c t i o n by w h i c h t h e p e r s o n f i r s t b e c a m e a n i n t e re s t e d e q u i t y h o l d e r wa s a p p rove d by t h e b o a rd o f d i re c t o rs b e fo re t h e p e rs o n b e c a m e a n i n t e re s t e d e q u i t y h o l d e r ; ( c ) t h e t ra n s a c t i o n i s a p p rove d by t h e a f f i r m a t i ve vo t e o f a m a j o r i t y o f t h e vo t i n g p o w e r h e l d by d i s i n t e re s t e d e q u i t y h o l d e rs a t a m e e t i n g c a l l e d fo r t h a t p u r p o s e n o e a r l i e r t h a n t w o ye a r s a f t e r t h e d a t e t h e p e rs o n f i rs t b e c a m e a n i n t e re s t e d e q u i t y h o l d e r ; o r ( d ) i f t h e c o n s i d e ra t i o n t o b e p a i d t o a l l e q u i t y h o l d e r s o t h e r t h a n t h e i n t e re s t e d e q u i t y h o l d e r i s , g e n e ra l l y, a t l e a s t e q u a l t o t h e h i g h e s t o f : ( i ) t h e h i g h e s t p r i c e p e r - t o k e n p a i d by t h e i n t e re s t e d e q u i t y h o l d e r w i t h i n t h e t h re e ye a rs i m m e d i a t e l y p re c e d i n g t h e d a t e o f t h e a n n o u n c e m e n t o f t h e c o m b i n a t i o n o r i n t h e t ra n s a c t i o n i n w h i c h i t b e c a m e a n i n t e re s t e d e q u i t y h o l d e r, w h i c h e ve r i s h i g h e r, p l u s c o m p o u n d e d i n t e re s t a n d l e s s d i v i d e n d s p a i d , ( i i ) t h e m a r k e t va l u e p e r - t o k e n o f C o m m o n

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS To ke n s o n t h e d a t e o f a n n o u n c e m e n t o f t h e c o m b i n a t i o n a n d t h e d a t e t h e i n t e re s t e d e q u i t y h o l d e r a c q u i re d t h e t o k e n s , w h i c h e ve r i s h i g h e r, p l u s c o m p o u n d e d i n t e re s t a n d l e s s d i v i d e n d s p a i d , o r ( i i i ) fo r h o l d e r s o f p re fe r re d t o k e n s , t h e h i g h e s t l i q u i d a t i o n va l u e o f t h e p re fe r re d t o ke n s , p l u s a c c r u e d d i v i d e n d s , i f n o t i n c l u d e d i n t h e l i q u i d a t i o n va l u e . W i t h re s p e c t t o ( i ) a n d ( i i ) a b ove , t h e i n t e re s t i s c o m p o u n d e d a t t h e ra t e fo r o n e - ye a r U n i t e d S t a t e s Tre a s u r y o b l i g a t i o n s f ro m t i m e t o t i m e i n e f fe c t . A p p l i c a b i l i t y o f t h e N e va d a b u s i n e s s c o m b i n a t i o n s t a t u t e w o u l d d i s c o u ra g e p a r t i e s i n t e re s t e d i n t a k i n g c o n t ro l o f o u r C o m p a ny i f t h e y c a n n o t o b t a i n t h e a p p rova l o f o u r B o a rd . T h e s e p rov i s i o n s c o u l d p ro h i b i t o r d e l a y a m e rg e r o r o t h e r t a k e ove r o r c h a n g e i n c o n t ro l a t t e m p t a n d , a c c o rd i n g l y, m a y d i s c o u ra g e a t t e m p t s t o a c q u i re o u r C o m p a ny e ve n t h o u g h s u c h a t ra n s a c t i o n m a y o f fe r o u r To k e n h o l d e r s t h e o p p o r t u n i t y t o s e l l t h e i r t o k e n s a t a p r i c e a b ove t h e p re va i l i n g m a r k e t p r i c e . A r t i c l e s o f I n c o r p o ra t i o n a n d B y l aw P r ov i s i o n s O u r A r t i c l e s o f I n c o r p o ra t i o n a n d o u r B y l a w s i n c l u d e p rov i s i o n s t h a t m ay h a ve t h e e f fe c t o f d e t e r r i n g h o s t i l e t a k e ove r s o r d e l a y i n g o r p re ve n t i n g c h a n g e s i n c o n t ro l o f o u r C o m p a ny, e ve n a f t e r s u c h t i m e a s o u r C l a s s B C o m m o n E q u i t y To k e n s n o l o n g e r re p re s e n t a m a j o r i t y o f t h e c o m b i n e d vo t i n g p o w e r o f o u r C o m m o n To ke n s , i n c l u d i n g t h e fo l l o w i n g : • D u a l C l a s s E q u i t y. A s d e s c r i b e d a b ove , o u r A r t i c l e s o f I n c o r p o ra t i o n p rov i d e fo r a d u a l c l a s s c o m m o n t o k e n s t r u c t u re , w h i c h p rov i d e s M r. R u s s o , o u r fo u n d e r a n d C E O , w i t h t h e a b i l i t y t o c o n t ro l t h e o u t c o m e o f m a t t e r s re q u i r i n g e q u i t y h o l d e r a p p rova l , e ve n i f he owns significantly less than a majority of our outstanding Class A Common Equity To ke n s , i n c l u d i n g t h e e l e c t i o n o f d i re c t o r s a n d s i g n i f i c a n t c o r p o ra t e t ra n s a c t i o n s , s u c h a s a m e rg e r o r o t h e r s a l e o f o u r C o m p a ny o r i t s a s s e t s . • I s s u a n c e o f U n d e s i g n a t e d P re fe r re d t o k e n s . O u r B o a rd h a s t h e a u t h o r i t y, w i t h o u t f u r t h e r a c t i o n by t h e To k e n h o l d e r s , t o i s s u e u p t o 5 0,0 0 0,0 0 0 o f u n d e s i g n a t e d p re fe r re d t o k e n s w i t h r i g h t s a n d p re fe re n c e s , i n c l u d i n g vo t i n g r i g h t s , d e s i g n a t e d f ro m t i m e t o t i m e by t h e B o a rd . T h e ex i s t e n c e o f a u t h o r i z e d b u t u n i s s u e d p re fe r re d t o k e n s e n a b l e s o u r B o a rd t o re n d e r m o re d i f f i c u l t o r t o d i s c o u ra g e a n a t t e m p t t o o b t a i n c o n t ro l o f u s by m e a n s o f a m e rg e r, t e n d e r o f fe r, p rox y c o n t e s t o r o t h e r w i s e . LIMITATION OF DIRECTOR LIABILITY AND INDEMNIFICATION N e va d a l a w a l l o w s u s t o i n d e m n i f y o u r d i re c t o r s , o f f i c e r s , e m p l oye e s , a n d a g e n t s , u n d e r c e r t a i n c i rc u m s t a n c e s , a g a i n s t a t t o r n e y ’s fe e s a n d o t h e r ex p e n s e s i n c u r re d by t h e m i n a ny l i t i g a t i o n t o w h i c h t h e y b e c o m e a p a r t y a r i s i n g f ro m t h e i r a s s o c i a t i o n w i t h o r a c t i v i t i e s o n o u r b e h a l f, a n d u n d e r c e r t a i n c i rc u m s t a n c e s t o a d va n c e t h e ex p e n s e s o f s u c h l i t i g a t i o n u p o n s e c u r i n g t h e i r p ro m i s e t o re p a y u s i f i t i s u l t i m a t e l y d e t e r m i n e d t h a t i n d e m n i f i c a t i o n w i l l n o t be allowed to an individual in that litigation.

Offering Memorandum

DESCRIPTION OF CAPITAL AND RELATED PROVISIONS

O u r A r t i c l e s o f I n c o r p o ra t i o n p rov i d e t h a t w e s h a l l i n d e m n i f y o u r d i re c t o r s a n d m ay i n d e m n i f y o u r o f f i c e rs , e m p l oye e s , a n d a g e n t s a g a i n s t ex p e n s e s , j u d g m e n t s , f i n e s a n d a m o u n t s p a i d i n s e t t l e m e n t t h a t a re i n c u r re d by re a s o n o f t h e fa c t t h a t s u c h p e r s o n i s o r wa s o u r d i re c t o r, o f f i c e r, e m p l oye e , a n d / o r a g e n t . I n s o fa r a s i n d e m n i f i c a t i o n fo r l i a b i l i t i e s a r i s i n g u n d e r t h e S e c u r i t i e s A c t o f 1 9 3 3, a s a m e n d e d , o r t h e S e c u r i t i e s A c t , m a y b e p e r m i t t e d t o d i re c t o r s , o f f i c e r s o r p e r s o n s c o n t ro l l i n g u s u n d e r t h e p rov i s i o n s t h a t w e d e s c r i b e a b ove o r o t h e r w i s e , w e h a ve b e e n i n fo r m e d t h a t i n t h e o p i n i o n o f t h e S e c u r i t i e s a n d E xc h a n g e C o m m i s s i o n , t h i s i n d e m n i f i c a t i o n i s a g a i n s t p u b l i c p o l i c y a s ex p re s s e d i n t h e S e c u r i t i e s A c t a n d i s t h e re fo re u n e n fo rc e a b l e . We m a y p u rc h a s e a n d m a i n t a i n i n s u ra n c e o n b e h a l f o f a ny o f f i c e r, d i re c t o r o r e m p l oye e fo r a ny l i a b i l i t y a r i s i n g o u t o f h i s o r h e r a c t i o n s i n t h a t c a p a c i t y, re g a rd l e s s o f w h e t h e r o u r a m e n d e d A r t i c l e s o f I n c o r p o ra t i o n o r B y l a w s w o u l d o t h e r w i s e p e r m i t i n d e m n i f i c a t i o n fo r t h a t l i a b i l i t y. We h a ve n o t o b t a i n e d l i a b i l i t y i n s u ra n c e fo r o u r o f f i c e r s a n d d i re c t o r s . A t t h e p re s e n t t i m e , t h e re i s n o p e n d i n g l i t i g a t i o n o r p ro c e e d i n g i nvo l v i n g a ny o f o u r d i re c t o r s , o f f i c e rs , e m p l oye e s o r a g e n t s i n w h i c h i n d e m n i f i c a t i o n w i l l b e re q u i re d o r p e r m i t t e d . We a re n o t a wa re o f a ny t h re a t e n e d l i t i g a t i o n o r p ro c e e d i n g w h i c h m ay re s u l t i n a c l a i m fo r indemnification.

[THIS REMAINDER OF THIS SPACE WAS INTENTIONALLY LEFT BLANK]

TERMS OF SECURITIES

T E RMS O F THE SECURITIE S T h e s u m m a r y b e l o w d e s c r i b e s t h e p r i n c i p a l t e r m s o f t h e S e c u r i t i e s . C e r t a i n o f t h e p rov i s i o n s d e s c r i b e d b e l o w a re s u b j e c t t o i m p o r t a n t l i m i t a t i o n s a n d exc e p t i o n s . I nve s t o r s s h o u l d re v i e w t h i s O f fe r i n g M e m o ra n d u m a n d G L X ’s Te r m s o f S e r v i c e , a n d a l l re l a t e d p o l i c i e s , a t : G L X . c o m / t e r m s - o f - s e r v i c e . I f a ny o f t h e p rov i s i o n s o f t h e S e c u r i t i e s a re i n c o n s i s t e n t w i t h o r c o n t ra r y t o t h e d e s c r i p t i o n s p l e a s e fe e l f re e t o c o n t a c t t h e C o m p a ny.

Issuer:

GLX, Inc.

Securities:

G L X C l a s s A C o m m o n E q u i t y To k e n s ( “ X ” ) i s s u e d o n t h e E t h e re u m b l o c k c h a i n u s i n g t h e Po l y m a t h S T 2 0 c o m p l i a n c e s t a n d a rd .

O f fe r i n g S i z e :

U p t o a m a x i m u m o f $ 1,0 7 0,0 0 0 U S D / 5,3 5 0,0 0 0 C l a s s A E q u i t y To k e n s

O f fe r i n g P r i c e :

$ 0.2 0 U S D p e r - t o k e n

S a l e Pe r i o d :

T h e To ke n S a l e Pe r i o d w i l l b e g i n o n M a rc h 1, 2 0 1 9 a n d w i l l e n d o n M a y 3 1, 2 0 1 9. T h e S a l e Pe r i o d m ay b e ex t e n d e d o r s h o r t e n e d a t t h e C o m p a ny ’s s o l e d i s c re t i o n . A ny ex t e n s i o n o r s h o r t e n i n g o f t h e S a l e Pe r i o d w i l l b e a n n o u n c e d by p re s s re l e a s e , a s u p p l e m e n t t o t h i s M e m o ra n d u m o r o t h e r a va i l a b l e m e a n s o f n o t i f y i n g I nve s t o r s . N o a s s u ra n c e c a n b e g i ve n t h a t e a c h I nve s t o r t h a t w i s h e s t o p a r t i c i p a t e i n t h e O f fe r i n g w i l l b e a b l e t o d o s o , o r t o d o s o a t t h e l e ve l a t w h i c h s u c h I nve s t o r d e s i re s . T h e C o m p a ny re s e r ve s t h e r i g h t t o re j e c t a ny p ro p o s e d i nve s t m e n t i n p a r t o r i n i t s e n t i re t y i n i t s s o l e d i s c re t i o n .

Issuance:

To k e n s w i l l b e i s s u e d i m m e d i a t e l y u p o n p u rc h a s e .

E f fe c t o f Change of C o n t ro l , M e rg e r, Consolidation and Sale of Assets on To ke n :

T h e m e rg e r o r c o n s o l i d a t i o n o f t h e C o m p a ny w i t h a ny o t h e r c o m p a ny, i n c l u d i n g a m e rg e r i n w h i c h To k e n h o l d e r s re c e i ve c a s h o r p ro p e r t y fo r t h e i r To k e n s , o r t h e s a l e o f a l l o r s u b s t a n t i a l l y a l l o f t h e a s s e t s o f t h e C o m p a ny, o r a ny o t h e r c h a n g e o f c o n t ro l o f t h e C o m p a ny, s h a l l n o t c o n s t i t u t e a L i q u i d a t i o n E ve n t a n d To ke n h o l d e r s s h a l l h a ve n o p re fe re n t i a l r i g h t s i n c o n n e c t i o n t h e re w i t h exc e p t t o t h e ex t e n t re q u i re d by a p p l i c a b l e l a w.

Po t e n t i a l Fu t u re Utility Benefits to To ke n H o l d e r s :

To k e n h o l d e r s s h a l l n o t b e e n t i t l e d t o a ny u t i l i t y f u n c t i o n a l i t y a s p a r t o f t h e To k e n . N e ve r t h e l e s s , t h e C o m p a ny ex p e c t s t o e n d e a vo r t o p rov i d e c e r t a i n a d d i t i o n a l b e n e f i t s t o h o l d e r s o f t h e To k e n s i n t h e f u t u re ( t h e

Offering Memorandum

TERMS OF SECURITIES “ D i s c re t i o n a r y B e n e f i t s ” ) . T h e s e w i l l n o t b e a p a r t o f t h e t e r m s a n d c o n d i t i o n s o f t h e To k e n s , b u t ra t h e r b e n e f i t s vo l u n t a r i l y p rov i d e d by t h e C o m p a ny t o To k e n h o l d e r s . T h e s e D i s c re t i o n a r y B e n e f i t s m a y b e w i t h d ra w n o r c h a n g e d a t a ny t i m e a t t h e C o m p a ny ’s d i s c re t i o n . A c c e s s t o , a n d t h e d e g re e o f, a ny D i s c re t i o n a r y B e n e f i t s , i f o f fe re d , i s ex p e c t e d t o b e d e t e r m i n e d by t h e q u a n t i t y o f To k e n s t h e h o l d e r p o s s e s s e s . A l l m a t t e r s re l a t i n g t o t h e t e r m s o f a ny D i s c re t i o n a r y B e n e f i t s w i l l b e d e c i d e d s o l e l y by t h e B o a rd . Fu r t h e r m o re , t h e t e r m s o f a ny D i s c re t i o n a r y B e n e f i t s w i l l b e s u b j e c t t o a m e n d m e n t by t h e B o a rd a t a ny t i m e . T h e re c a n b e n o a s s u ra n c e t h a t t h e C o m p a ny w i l l e ve r o f fe r a ny D i s c re t i o n a r y B e n e f i t s .

Amendments:

T h e C o m p a ny re s e r ve s t h e r i g h t t o a m e n d t h e t e r m s o f t h e S e c u r i t i e s a t a ny t i m e d u r i n g t h e O f fe r i n g p r i o r t o t h e E x p i ra t i o n D a t e .

Documentation:

To i nve s t , e a c h I nve s t o r m ay b e re q u i re d t o c o m p l e t e s u c h d o c u m e n t a t i o n a s m a y b e re q u e s t e d by o r o n b e h a l f o f t h e C o m p a ny o r a ny p a r t i c i p a t i n g exc h a n g e s , i nve s t m e n t b a n k s , e t c . S u c h D o c u m e n t a t i o n m ay i n c l u d e , w i t h o u t l i m i t a t i o n : ( i ) c o m p l e t i o n o f I nve s t o r q u a l i f i c a t i o n re q u i re m e n t s ; a n d ( i i ) fo r A c c re d i t e d I nve s t o r s , p rov i s i o n o f d o c u m e n t s s u f f i c i e n t t o e n a b l e t h e ve r i f i c a t i o n o f s u c h I nve s t o r ’s s t a t u s .

G ove r n i n g L aw :

T h i s O f fe r i n g w i l l b e g ove r n e d by t h e l a w o f t h e S t a t e o f W yo m i n g . T h e To k e n s w i l l b e g ove r n e d by t h e l a w o f t h e S t a t e o f W yo m i n g .

OFFERING SUMMARY

S U M M ARY OF THE TOK EN OFFERIN G S e c u r i t y To ke n O f fe r i n g S p e c i f i c s T h e C o m p a ny i n t e n d s t o ra i s e a m i n i m u m a m o u n t o f $ 1 0 0 a n d u p t o a m a x i m u m a m o u n t o f $ 1,0 7 0,0 0 0 i n t h i s S e c u r i t y To k e n O f fe r i n g ( “ S T O ” ) t o f u n d t h e c o n t i n u e d g ro w t h o f o u r b u s i n e s s . T h e G L X C l a s s A C o m m o n E q u i t y To k e n s ( X ) w i l l b e o f fe re d i n a p r i va t e p l a c e m e n t o f fe r i n g p u rs u a n t t o a n exe m p t i o n f ro m re g i s t ra t i o n u n d e r R e g u l a t i o n C ro w d f u n d i n g ( C F ) , a s a m e n d e d , u n d e r exe m p t i o n s u n d e r a p p l i c a b l e s t a t e s e c u r i t i e s l a w s , a n d i n re l i a n c e u p o n t h e re p re s e n t a t i o n s a n d wa r ra n t i e s o f e a c h o f t h e I nve s t o r s t h a t t h e y a re p u rc h a s i n g t h e G L X C l a s s A C o m m o n E q u i t y To k e n s ( X ) fo r i nve s t m e n t p u r p o s e s a n d n o t w i t h a v i e w t o a ny re s a l e o r d i s t r i b u t i o n t h e re o f. T h e O f fe r i n g i s b e i n g m a d e o n a “ b e s t e f fo r t s ” b a s i s . A ny a n d a l l p ro c e e d s w i l l b e i m m e d i a t e l y re l e a s e d fo r u s e by t h e C o m p a ny. T h e p ro c e e d s f ro m t h e s a l e o f t h e To k e n s o f fe re d h e re by w i l l b e a p p rox i m a t e l y $ 1,0 7 0,0 0 0 i f a l l 5,3 5 0,0 0 0 To k e n s a re s o l d . T h e n e t p ro c e e d s f ro m t h i s O f fe r i n g w i l l b e u s e d t o ex p a n d w e b a n d m o b i l e d e ve l o p m e n t , i n t e l l e c t u a l p ro p e r t y, m a r k e t i n g , a n d p rov i d e w o r k i n g c a p i t a l . Use of Proceeds S u b j e c t t o t h e C o m p a ny ’s d i s c re t i o n t o d e p l oy f u n d s a s i t d e t e r m i n e s a p p ro p r i a t e , a n d t o t h e a m o u n t o f f u n d s ra i s e d i n t h e O f fe r i n g , t h e C o m p a ny c u r re n t l y a n t i c i p a t e s : ( i ) a p p rox i m a t e l y 6 5 % w i l l b e u s e d fo r w e b a n d m o b i l e d e ve l o p m e n t ; ( i i ) a p p rox i m a t e l y 5 % w i l l b e u s e d fo r i n t e l l e c t u a l p ro p e r t y ; ( i i i ) a p p rox i m a t e l y 1 0 % w i l l b e u s e d fo r m a r k e t i n g ; a n d ( i v ) t h e b a l a n c e ( a p p rox i m a t e l y 2 0 % ) w i l l b e u s e d fo r w o r k i n g c a p i t a l . I n t h e e ve n t t h a t t h e C o m p a ny ’s p l a n s c h a n g e , i t s a s s u m p t i o n s c h a n g e o r p rove t o b e i n a c c u ra t e , o r t h e p ro c e e d s o f t h i s O f fe r i n g p rove t o b e i n s u f f i c i e n t , i t m ay b e n e c e s s a r y o r a d v i s a b l e t o re a l l o c a t e p ro c e e d s o r t o u s e p ro c e e d s fo r o t h e r p u r p o s e s , o r t h e C o m p a ny m a y b e re q u i re d t o s e e k a d d i t i o n a l f i n a n c i n g o r m a y b e re q u i re d t o c u r t a i l i t s o p e ra t i o n s . A s a re s u l t o f t h e fo re g o i n g , t h e C o m p a ny ’s s u c c e s s w i l l b e a f fe c t e d by i t s d i s c re t i o n a n d j u d g m e n t w i t h re s p e c t t o t h e a p p l i c a t i o n a n d a l l o c a t i o n o f t h e p ro c e e d s o f t h i s O f fe r i n g . T h e ex p e n d i t u re s p ro j e c t e d i n t h e fo re g o i n g l i s t a re e s t i m a t e s b a s e d o n m a n a g e m e n t p ro j e c t i o n s o f t h e o p e ra t i n g n e e d s o f t h e b u s i n e s s . A l t h o u g h t h e a m o u n t s s e t fo r t h re p re s e n t o u r p re s e n t i n t e n t i o n s w i t h re s p e c t t o p ro p o s e d ex p e n d i t u re s , a c t u a l ex p e n d i t u re s m a y va r y s u b s t a n t i a l l y, d e p e n d i n g u p o n f u t u re d e ve l o p m e n t s s u c h a s m a r k e t i n g d e c i s i o n s , s a l e s a c t i v i t y, a n d c e r t a i n o t h e r fa c t o r s .

Offering Memorandum

OFFERING SUMMARY

T h e fo l l o w i n g d e s c r i p t i o n o f c e r t a i n m a t t e r s re l a t i n g t o t h e s e c u r i t i e s o f t h e C o m p a ny d o e s n o t p u r p o r t t o b e c o m p l e t e a n d i s s u b j e c t i n a l l re s p e c t s t o a p p l i c a b l e N e va d a l a w a n d t o t h e p rov i s i o n s o f t h e C o m p a ny ’s A r t i c l e s o f I n c o r p o ra t i o n a n d B y l a w s . C l a s s A To ke n h o l d e r s d o n o t h a ve p re e m p t i ve r i g h t s o r r i g h t s t o c o nve r t t h e i r To k e n s i n t o o t h e r s e c u r i t i e s . To k e n h o l d e r s h a ve n o c l a i m o n a s s e t s i f t h e c o m p a ny e n t e r s l i q u i d a t i o n , d i s s o l u t i o n o r w i n d i n g u p o p e ra t i o n s . 1 0 0 % o f t h e To ke n s a re b e i n g s o l d t o ra i s e ex p a n s i o n c a p i t a l fo r t h e C o m p a ny. OVERVIEW OF TRANSFER RESTRICTIONS INCLUDED IN THIS OFFERING MEMORANDUM T h i s O f fe r i n g M e m o ra n d u m d e s c r i b e s t h e l e g a l a n d c o n t ra c t u a l t ra n s fe r re s t r i c t i o n s a p p l i c a b l e t o t h e S e c u r i t i e s . I nve s t o r s s h o u l d c a re f u l l y re v i e w t h i s O f fe r i n g M e m o ra n d u m , i n c l u d i n g t h e t ra n s fe r re s t r i c t i o n s d e s c r i b e d u n d e r “ N o t i c e t o Pu rc h a s e r s ” , t h e D i s c l a i m e r s : Te r m s a n d C o n d i t i o n s o f t h e To k e n s , w h i c h c o n t a i n i m p o r t a n t i n fo r m a t i o n re g a rd i n g t h e S e c u r i t i e s . I nve s t o rs s h o u l d c o n s u l t w i t h t h e i r o w n l e g a l a n d f i n a n c i a l a d v i s o rs re g a rd i n g t h e t ra n s fe r re s t r i c t i o n s t o w h i c h t h e y w i l l b e b o u n d . T h e b e l o w s u m m a r y i s i n t e n d e d t o p rov i d e a s u m m a r y ove r v i e w o f a p p l i c a b l e t ra n s fe r re s t r i c t i o n s a n d a re q u a l i f i e d by re fe re n c e t o t h e t ra n s fe r re s t r i c t i o n s s e t fo r t h u n d e r “ N o t i c e t o Pu rc h a s e rs ” , t h e D i s c l a i m e r s , Te r m s a n d C o n d i t i o n s o f t h e To k e n s . Fo r U . S . I nve s t o r s • To ke n s s h a l l b e t ra n s fe r re d t o t h e I nve s t o r a t t h e t i m e o f p u rc h a s e . • To ke n s i s s u e d t o U . S . p e r s o n s a re n o t t ra n s fe ra b l e fo r o n e ye a r f ro m t h e p u rc h a s e d a t e , exc e p t t h a t , fo l l o w i n g t h e e s t a b l i s h m e n t o f a s u f f i c i e n t p ro c e s s t o ve r i f y t h e i d e n t i t y o f s u b s e q u e n t To k e n h o l d e r s i n o rd e r t o e n s u re A M L / K YC / C T F c o m p l i a n c e a n d s o n o t i f i e s h o l d e rs o f To k e n s t h e re o f a n d o f a ny a p p l i c a b l e c o n d i t i o n s , t h e C o m p a ny m a y p e r m i t a Compliant Regulation S Sale. • A f t e r o n e ye a r f ro m t h e p u rc h a s e d a t e , To k e n s m ay b e t ra n s fe r re d o n a s e c u r i t y t ra d i n g sys t e m s o l o n g a s t h e t ra n s fe r s a re c o m p l i a n t w i t h a p p l i c a b l e s e c u r i t i e s l a w s . G L X m a y c re a t e a n a u t h o r i z e d t ra d i n g sys t e m a n d / o r w o r k w i t h a n ex i s t i n g p l a t fo r m t o p e r m i t t ra d i n g o f a s e c u r i t y t o k e n . T h e re i s n o g u a ra n t e e t h a t G L X w i l l b e s u c c e s s f u l i n t h e s e e n d e a vo rs . I f p o s s i b l e t h e C o m p a ny w i l l a s s i s t i n a ny s e c o n d a r y t ra n s fe r s a s l o n g a s a ny a n d a l l t ra n s fe r s a re c o m p l i a n t w i t h a p p l i c a b l e s e c u r i t i e s l a w s . • A f t e r o n e ye a r f ro m t h e p u rc h a s e d a t e , p e e r - t o - p e e r t ra n s fe r s w i l l b e p e r m i t t e d i f G L X a u t h o r i z e s p e e r - t o - p e e r t ra n s fe r s a n d s o n o t i f i e s h o l d e r s o f To k e n s t h e re o f a n d o f a ny

OFFERING SUMMARY a p p l i c a b l e c o n d i t i o n s . G L X p l a n s t o a u t h o r i z e p e e r - t o - p e e r t ra n s fe r s a s l o n g a s a s u f f i c i e n t p ro c e s s c a n b e e s t a b l i s h e d t o ve r i f y t h e i d e n t i t y o f s u b s e q u e n t t o k e n h o l d e r s i n o rd e r t o e n s u re A M L / K YC / C T F / S E C c o m p l i a n c e w i t h a p p l i c a b l e s e c u r i t i e s l a w s . T h e re i s n o g u a ra n t e e t h a t G L X w i l l b e a b l e t o e s t a b l i s h s u c h p ro c e d u re s a n d a u t h o r i z e p e e r - t o - p e e r t ra n s fe rs . REGULATORY INFORMATION Disqualification N o d i s q u a l i f y i n g e ve n t h a s b e e n re c o rd e d i n re s p e c t t o t h e c o m p a ny o r i t s o f f i c e r s o r d i re c t o rs . C o m p l a i n c e Fa i l u r e T h e c o m p a ny h a s n o t p re v i o u s l y fa i l e d t o c o m p l y w i t h t h e re q u i re m e n t s o f R e g u l a t i o n C ro w d f u n d i n g . Ongoing Repor ting T h e C o m p a ny w i l l f i l e a re p o r t e l e c t ro n i c a l l y w i t h t h e S E C a n n u a l l y a n d p o s t t h e re p o r t o n i t s w e b s i t e n o l a t e r t h a n A p r i l 3 0 ( 1 2 0 - d ays a f t e r Fi s c a l Ye a r E n d ) . O n c e p o s t e d , t h e a n n u a l re p o r t m a y b e fo u n d o n t h e C o m p a ny â&#x20AC;&#x2122;s w e b s i t e a t h a c k e r n o o n . c o m ( U n d e r t h e t a b A n n u a l Report.). T h e C o m p a ny m u s t c o n t i n u e t o c o m p l y w i t h t h e o n g o i n g re p o r t i n g re q u i re m e n t s u n t i l : 1. i t i s re q u i re d t o f i l e re p o r t s u n d e r S e c t i o n 1 3 ( a ) o r S e c t i o n 1 5 ( d ) o f t h e E xc h a n g e Act; 2. i t h a s f i l e d a t l e a s t o n e ( 1 ) a n n u a l re p o r t p u r s u a n t t o R e g u l a t i o n C ro w d f u n d i n g a n d h a s fe w e r t h a n t h re e h u n d re d ( 3 0 0 ) h o l d e rs o f re c o rd a n d h a s t o t a l a s s e t s t h a t d o n o t exc e e d $ 1 0,0 0 0,0 0 0 ; 3. i t h a s f i l e d a t l e a s t t h re e ( 3 ) a n n u a l re p o r t s p u r s u a n t t o R e g u l a t i o n C ro w d f u n d i n g ; 4 . i t o r a n o t h e r p a r t y re p u rc h a s e s a l l o f t h e s e c u r i t i e s i s s u e d i n re l i a n c e o n S e c t i o n 4 ( a ) ( 6 ) o f t h e S e c u r i t i e s A c t , i n c l u d i n g a ny p ay m e n t i n f u l l o f d e b t s e c u r i t i e s o r a ny c o m p l e t e re d e m p t i o n o f re d e e m a b l e s e c u r i t i e s ; o r 5. i t l i q u i d a t e s o r d i s s o l ve s i t s b u s i n e s s i n a c c o rd a n c e w i t h s t a t e l a w. Updates U p d a t e s o n t h e s t a t u s o f t h i s O f fe r i n g m ay b e fo u n d a t - h t t p s : / /g l x . c o / i nve s t o r - ove r v i e w

Offering Memorandum

“I THINK THE INTERNE T IS GOI NG TO BE ONE OF THE MA JOR FORCE S FOR REDUCING THE ROLE OF GOVERNMENT. THE ONE THING THAT ’ S MIS SING BUT THAT WILL S OON BE DEVELOPED IS A RELIABLE E-CASH.” - PROFE S S OR MILTON FRIEDMAN

N EITHER R E D B OX NOR N E TF L I X A R E EVEN O N THE R A DA R SC R EEN I N TER MS OF C O M P E TITION. JCEOI MOF KBLOCKBUSTER, EY E S 2008 IN 2010, BLOCKBUSTER FILED FOR BANKRUPTCY IN 2018, NETFLIX SURPASSED $150B VALUATION

W HY IS OU R FI NANCI AL SYSTE M S O INEF FI CI E NT ? FI RST, B E CA U S E IT ’ S ANTI QUATE D, A SLU DG E OF IND USTRI AL TE CH NOLOGI E S AND PA PER-BA SE D PROCE S SE S DRE S S ED UP IN A DI G I TAL WRAPPE R. SE C O N D, BECA USE I T ’ S CE NTRALI ZE D, WHIC H M A KE S I T RE SI STANT TO CH ANGE A ND VULNE RAB LE TO SYSTE MS FAILURE S AND AT TACKS . TH I RD, IT ’ S EXCLUSI ONARY, DE NYI NG BIL L IO N S OF PE OPLE ACCE S S TO BA SIC FI NANCI AL TOOLS . BANK ER S HAVE L ARGE LY DODG E D TH E S ORT OF CREATI VE DE STRU C TI ON TH AT, W HIL E ME S SY, I S CRI TI CAL TO EC O NO MI C VI TALI TY AND PROG R E S S . BUT THE S OLU TI ON TO TH I S INNOVAT I ON LOG JAM H A S E ME RGED: BLOC KCH AI N. - HA RVA R D B USINE S S REVIEW

PROBLEM

BAN KS AR E THE NEW BLOCKB USTE R THE GLOBAL FINANCIAL SYSTEM IS INCREASINGLY CHARACTERIZED BY DISRUPTIVE INNOVATION, YET LEGACY SYSTEMS, OUTDATED ARCHITECTURES, AND OLD-FASHIONED PRACTICES ARE PROHIBITING COLLECTIVE COLLABORATION AND TRUE INNOVATION.

B l o c k c h a i n a l o n e c a n n o t d r i ve t ra n s fo r m a t i o n a n d i s o n e o f m a ny t e c h n o l o g i e s t h a t w i l l fo r m t h e fo u n d a t i o n o f n ex t - g e n e ra t i o n f i n a n c i a l s e r v i c e s i n f ra s t r u c t u re . A s m u l t i p l e e m e rg i n g t e c h n o l o g i e s c o nve rg e a n d t ra n s fo r m m a r k e t s o n a f u n d a m e n t a l l e ve l , i n d u s t r i e s , i n s t i t u t i o n s , and individuals need new capabilities, such as: • • • •

The ability to discover and leverage new forms of value in collaboration with unexpected, unfamiliar partners and an evolving set of collaborators. The ability to share information and transfer knowledge, extending the sense of what’s possible in light of an ultra-competitive environment. The ability to transform from inside-out so as to not jeopardize performance and disrupt current processes. The ability to make sense of data, as the explosion of information over the past decade demands new processes that are fundamental to success.

A NEW WORKFORCE MEANS TROUBLE FOR FINANCE B y 2 0 2 5, m i l l e n n i a l s w i l l m a k e u p 7 5 % o f a w o r k fo rc e t h a t i s h i g h l y a g i l e a n d t e c h n i c a l l y l i t e ra t e , a s m o s t w i l l h a ve b e e n ra i s e d a n d e d u c a t e d u s i n g V R /A R / M R t e c h n o l o g i e s . T h i s m e a n s t h a t o rg a n i z a t i o n s w i l l n e e d t o m a k e i nve s t m e n t s i n n e w t ra i n i n g sys t e m s t o re s k i l l ex i s t i n g wo r ke rs a n d a d a p t t o a n e w l a b o r fo rc e t h a t e m b ra c e s a w i d e r ra n g e o f s k i l l s a n d e n h a n c e d c re a t i v i t y a s m a c h i n e s c a n n o w p e r fo r m ro u t i n e a n d n o n - ro u t i n e t a s k s /p ro c e s s e s . I n a t h re e - ye a r s t u d y o f t h i s f u t u re w o r k fo rc e ( M i l l e n n i a l D i s r u p t i o n I n d ex ) , t h e b a n k i n g s e c t o r wa s fo u n d t o b e a t t h e h i g h e s t r i s k o f d i s r u p t i o n .

TRUE INNOVATION DEMANDS C OLL ABOR ATION The most impactful blockchain applications will require deep collaboration between incumbents, innovators and regulators. However, achieving large-scale, multi-stakeholder implementation in highly-regulated, highly-complex markets has made true innovation hard. LEGACY INFRASTRUCTURE Replacing existing financial infrastructure requires significant time and investment. The challenge of integrating with legacy systems and closed-end architecture has prevented true fintech innovation.

COMPETING INTERESTS Aligning key stakeholders for collective action requires difficult balancing of interests in the face of diverging interests and zero sum games. Because a level of mistrust exists between entities that generate transactions, central gatekeepers have emerged to enforce trust.

REGULATORY FRAMEWORKS Implementing new financial infrastructure requires changes to existing regulations, standards of practice, the creation of new legal and liability frameworks, and additional stakeholder alignment and governance considerations.

Offering Memorandum

PROBLEM

ARCHAIC INFRASTRUCTURE DIMENSIONLESS VISIBILITY DISPARATE DATA FRAGMENTED MARKETS LACK OF INTEGRITY / TRANSPARENCY

WEB 5.0

OPEN, LINKED AND INTELLIGE

The dawn of a new era is upon us - one of full immersion into the digital world. It's an era that will be founded upon the technological revolution that's been silently brewing

ENT WEB = EMOTIONAL WEB for more than a decade. Our once-dreamed-up reality of wedding the digital world with the physical world is no longer the stuff of fabled fairytales; it's happening, right here, right now. R . L . ADAM S

SOLUTION FUTURE CAPITAL MARKETS ARE BEING BUILT ON SCALABLE INFRASTRUCTURE FABRICS, INDUSTRYWIDE SOLUTIONS, AND OPEN-SOURCED PROCESSES. GLX SOLUTIONS EXIST AT THE NEXUS OF MULTIPLE FINANCIAL TECHNOLOGIES WHILE INCORPORATING BLOCKCHAIN, XR, AND AI.

GLX enables technology solutions that: • • • • •

A u g m e n t o r re p l a c e e s t a b l i s h e d b u s i n e s s p ro c e s s e s fo r f i n a n c i a l i n s t i t u t i o n s . E n a b l e a n d i m p rove t h e c re a t i o n , i m p l e m e n t a t i o n , d i s t r i b u t i o n , a n d m a n a g e m e n t o f f i n a n c i a l p ro d u c t s a n d services. C re a t e a l t e r n a t i ve s o l u t i o n s l e ve ra g i n g n e w e r t e c h n o l o g y ( i n c l u d i n g A I , m a c h i n e l e a r n i n g , a n d b l o c k c h a i n ) . A u t o m a t e , d i g i t i z e , a n d c re a t e a c c e s s t o g l o b a l c a p i t a l m a r ke t s . E n h a n c e i n t e r n a l f i n a n c i a l - re l a t e d p ro c e s s e s fo r a l l b u s i n e s s e s .

GLX enables financial firms to: • • •

O ve rc o m e i n e r t i a w i t h i n c o m p l ex , d i s p a ra t e o rg a n i s a t i o n s . D r i ve e n h a n c e d o p e ra t i o n a l e f f i c i e n c y i n t h e f ro n t , m i d d l e , a n d b a c k o f f i c e . H a r n e s s a n d m a n a g e i n n ova t i o n w i t h i n t h e e n t e r p r i s e .

Offering Memorandum

SOLUTION

THERE IS A N INCRE A SI NG DE MAND F O R DATA A ND A NALYTI C S . NE W TEC HNO LOGIE S H AVE CRE ATE D A R E VO LUTION IN T H E USE OF DATA AND A NA LYTIC S , GENERATI NG NE W PRODUC TS , G R EATER EFFICIENCY, AND H I GH E R M A RGINS . DATA IS I NCRE A SI NGLY “A G O LD EN RE S O URCE ” FOR CMI PS [CAPI TAL M A R KE TS INF R A STRU C TU RE PROVI DE RS ] , A N D ANA LY TICAL TOOLS TH AT LE VE RAG E DATA ARE SE T TO CRE ATE RE VE NUE O P P ORTUNITIE S ACRO S S BU SI NE S S M O DEL S , A S SE T CL A S SE S , PRODUC TS , A N D S ERVIC E S . - M C KINSEY

WHY NOW

CA P ITA L IZING O N TE C TONI C DI SRU PTI ON

INTERNET ACCESS AND BANDWIDTH CONTINUE TO INCREASE GLOBALLY WORLD MARKETS ARE GLOBALIZING AT AN ACCELERATING PACE BLOCKCHAIN IS FUNDAMENTALLY CHANGING MARKET STRUCTURES UBIQUITOUS AND AMBIENT COMPUTING ARE THE PLATFORMS OF THE FUTURE A GLOBAL NEED TO DEMOCRATIZE ACCESS TO FINANCIAL MARKET DATA AND COMMUNICATIONS

“ Distributed ledger technology has great potential to drive simplicity and efficiency through the establishment of new financial services infrastructure and processes ” - WORLD ECONOMIC FORUM 45

MARKET SIZE

TARG E TS

INDIVIDUALS - TRADERS, INVESTORS, ADVISORS, EXECUTIVES, AND ENTREP

ORGANIZATIONS - EXCHANGES , BANKS, FUNDS, TRADING DESKS, AND INSTI

$ 28 B 2017 INDUSTRY FOR FINANCIAL INFORMATION BURTON TAYLOR

$ 3 4 .7 B H1 2018 M&A FINTECH DEALS +38% FROM ALL OF 2017 KPMG

$ 73 T G LOBAL STO C K E XC H A N G E MA R KE T CA PI TA L I Z AT I O N S VISUAL CAPITALIST

Offering Memorandum

MARKET SIZE

PRENEURS

ITUTIONS

$58 B H1 2018 GLOBAL INVESTMENT IN FINTECH COMPANIES KPMG

$ 4 .8 B 2020 FORCASTED REVENUES FOR ENTERPRISE SOCIAL NETWORKS GLOBAL INDUSTRY ANALYSTS

$2 15 T G LOBA L DE BT M A R K E T 32 5% O F G LO BA L G DP VISUAL CAPITALIST

COMPETITION

I N N OVAT I O N F R O M T H E E D G E S

C O M P E TITIVE L A ND S CAPE GLX INTRODUCES A “THIRD” PLATFORM TO THE INDUSTRY TO ORCHESTRATE NEW BUSINESS MODELS AND PARTNERSHIPS.

C o m p e t i t i o n t o G L X t a k e s t w o fo r m s : c o m p a n i e s a n d p l a t fo r m s . A l t h o u g h t h e f i n a n c i a l i n fo r m a t i o n s p a c e i s h i g h l y c o m p e t i t i ve a n d d e e p l y i n t e r w ove n , G L X ’s u n i q u e o f fe r i n g s h a ve t h e a b i l i t y t o t ra n s fo r m t ra d i t i o n a l c o m p e t i t o r s i n t o c o l l a b o ra t o r s a n d p a r t n e rs . COMPANIES BLOOMBERG

CRUNCHBASE

• • • •

• •

• • •

325,000 users in 180 countries 60+ billion market ticks 400 million messages 17 million chats per-day

140,000 individual profiles 105,000 company profiles

560 million members 20 million companies 60 thousand schools

PLATFORMS

COLLABORATION PLATFORMS

FINANCE PLATFORMS

BUSINESS DIRECTORIES / INFO

• • • • • • •

• • • • • • • • • •

Free: • Owler • Angel list • CrunchBase • Gust

Slack FBWorkplace Cisco Spark Yammer TeamOne Microsoft Teams Basecamp

Morningstar Office, MoneyGuidePro EMoney Advisor emX Pro Finance Logix Redtail CRM RightCapital MoneyTree Advicent (NaviPlan) Redtail Technology Riskalyze

Paid: • CB Insights • Reuters • Mattermark • Datafox • Xeler8 • Tracxn • Privco

Offering Memorandum

THERE IS A N OPPORTUNI TY TO R E C R EATE THE FI NANCI AL WORLD A S W E K NOW IT I N TH E PARALLE L U N I VERSE THAT I S TH E B LOCKCH AI N. W E ARE W R ITING RU LE S FOR TH I S W HOL E NEW UNI VE RSE . PAT RI C K M . BYR NE , CEO OF OVERSTOCK .C OM

COMPETITORS

Facebook at Work Is Late to the Office B y J a m e s Ta r m y

- January 22, 2015, 5:47 PM EST

Facebook is making a play for the office. On Jan. 14 the social network unveiled a corporate version of its website and app, Facebook at Work, which ditches travel pics and kitten videos in favor of memos and project updates. There are no ads, and the company says it won’t use the platform to track activity or connect people’s business profiles with their personal ones. “We’ve used Facebook for years now as a very powerful tool to get work done,” says Lars Rasmussen, the engineering director of Facebook at Work, who’s testing the product with a few hand-picked companies. “Our experience of using it for almost all internal communications shows that it’s more efficient than anything else out there.” Leaving aside the question of whether IT managers will trust a company notorious for testing privacy boundaries, Facebook at Work faces a number of major hurdles as it makes its way into the market. First, it’s late to the office party. Microsoft, Salesforce, and a host of startups have a jump of several years on social networks for the office. Second, Facebook at Work doesn’t offer any new features to set it apart from rivals or even its consumer version. The company has done little to address the problems of information overload and plain old awkwardness that often accompany internal social networks. “There is a risk that these get very noisy and you get distractions instead of solutions to whatever you’re trying to accomplish,” says John Hagel, co-chairman of Deloitte’s Center for the Edge, a research group that studies business technology. It’s easy to see why Facebook would want a piece of the $2.3 billion corporate social market, which has seen its audience explode in the past few years as companies search for an approach to internal communication that’s more streamlined and versatile than e-mail. More than 208 million people around the world used some kind of internal social platform for work in 2013, a 30 percent gain from the year before, according to researcher Frost & Sullivan. Almost 90 percent of those people used paid subscriptions. For Facebook, which has 1.35 billion people checking its service monthly but zero paying for the privilege, a corporate version could add revenue and soothe investor worries as the company’s rate of U.S. user growth falls below that of Instagram, Pinterest, and LinkedIn. Although Rasmussen says Facebook has no immediate plans to make money from its corporate version, subscription fees are the likeliest next step for the ad-free service. Facebook at Work looks familiar, down to its logo, the Facebook “F” inside a blue briefcase. In practice it works a little more like a bare-bones version of competitors such as Yammer (owned by Microsoft) or Chatter (Salesforce). Employers create worker accounts, and posts are automatically visible to everyone on the company’s network. Workers can create smaller groups for project teams or ping individuals using Facebook Messenger. They have to rely on Facebook algorithms to decide what’s of interest to each employee and narrow down the companywide newsfeed.

Slack, a startup that made its debut last year and quickly became the fastest-growing workplace software ever, makes it easy for workers to pull in files from Google Docs or Dropbox. Like most of the services that Facebook at Work is trying to compete with, it also already has a Facebook-style private messaging system, group message boards, and a company newsfeed. “Facebook at Work might be new, but the model itself is already out there,” says Venkatesh Rao, who runs technology researcher Ribbonfarm Consulting. Companies using Yammer or Chatter can create different feeds for different departments, toggling between news from marketing and research and development. That’s something Facebook at Work can’t do. Facebook at Work’s lack of these kinds of sorting mechanisms could seriously impede its usefulness. “The reason that these systems have failed in the past is that information wasn’t germane enough to allow the user to make a decision or take action,” says Lisa Hammitt, the vice president for marketing at Salesforce Communities. By forcing workers to rely on its algorithms to determine which items they see, Facebook is betting it can interpret and manage any given set of corporate communications well enough to keep its corporate social network from feeling like an avalanche of HR spam, scheduling chatter, and ice bucket challenges. It’s tricky to separate signal from noise while also keeping a business’s social network fun, says Daniel Kraft, chief executive officer of Sitrion, which sells social networking software to companies. “If you terminate

Offering Memorandum

COMPETITORS nonproductive conversations, then you’re eliminating the ability to make the network a community people would like to belong to,” he says. A problem all social networks face is making workers feel comfortable expressing any business problems or questions they may have in a forum that’s far more public than e-mail, says Deloitte’s Hagel. “There are a lot of cultural issues that have to change,” he says. Still, he adds, corporate social networks appear to increase productivity and are likely to become essential business tools. “We’re in a world of mounting performance pressure, and it’s not going to go away,” Hagel says. “If we don’t find ways to learn faster, we’re going to be marginalized.” Sitrion’s Kraft says the best way for employers to get workers to use a social network is to force them—to make it the only source of bonus letters and staffing announcements. Yammer developers quickly learned that smaller group feeds were the best way to minimize people’s anxiety about broadcasting their activities, says George Zachary, a partner at the venture capital firm Charles River Ventures, Yammer’s first investor. At Facebook, Rasmussen is banking on early adopters. “What I expect will happen is that there will be a small group of employees who are fond of using social tools in general, and we’ll give them the tools to engage the rest of the company,” he says. The same marketing strategy worked for the original Facebook and for dating apps. But the model that attracted smartphone owners to Grindr might not work so well inside Pfizer or GM.

THE BOTTOM LINE: Facebook is trying to pull market share from its corporate-focused rivals, but it doesn’t offer much new. ENTERPRISE SOCIAL NET WORKS Founded in 2008. $142 million in funding by 2012. Acquired by Microsoft for $1.2 billion in June 2012. Developed internally. Launched in 2010. Enterprise chat and work collaboration built within Salesforce’s CRM platform. Founded in 2009. $1.2 Billion raised to date. Privately held with a current valuation in excess of $7 Billion.

F I N A N C I A L D ATA A N D C O M M U N I C AT I O N S

Founded in 1981. It is a privately held with annual revenues of $9.4 Billion.

Founded in 2014. $296 million raised to date. Privately held with a current valuation in excess of $1 Billion.

SOCIAL FINANCE NETWORK

COM 51

COMPETITIVE ADVANTAGE

VA LU E

C R E ATIN G A C O M PE T I TI VE ADVANTAGE THROUGH DATA AND APPLICATION ARCHITECTURES THAT BOOST FINANCIAL PERFORMANCE ACROSS MULTIPLE DIMENSIONS, GLX CREATES COMPETITIVE ADVANTAGES THAT UNLOCK NEW VALUE IN TOMORROWS CAPITAL MARKETS. NEW

NEW

New utilities and tools

New markets and opportunities

New products, services, and experiences

HIGHER

LO W E R

STRONGER

Improved profitability New business innovation

Improved operations Increased productivity

Faster, more accurate insights Increased speed and agility of response

CA PA BILITIE S R EVEN U E

AG ILI T Y

INNOVAT IONS

C O STS

O PER AT IONS

HOW GLX CREATES VALUE 01 - ACCESS NEW MARKETS • •

Automate, digitize, and create access to global capital markets Enter new markets or penetrate new market segments

03 - GAIN COMPETITIVE ADVANTAGES • • •

Create alternative solutions leveraging newer technologies Overcome inertia within complex, disparate organizations Harness and manage innovation within the enterprise

02 - REPLACE LEGACY TECHNOLOGIES • •

04 - INNOVATE NEW PRODUCTS AND SERVICES • • • •

05 - DRIVE ENHANCED OPERATIONAL EFFICIENCY • • •

Drive enhanced operational efficiency in the front, middle, and back office Optimize traditional operations and R+D expenses and improve operating profitability Simplify operations and reduce transaction and settlement time

Augment or replace established business processes Replace legacy systems with new emerging technologies

Innovate interactive training and collaboration tools Create new, immersive, interactive tools and experiences Create 3D and interactive productivity and efficiency tools Create engaging client experiences

06 - COMPLY WITH NEW REGULATIONS • • •

Improve regulatory efficiency Minimize fraud and reduce risk Establish immutable asset provenance

Offering Memorandum

NEW F INA NCI AL SE RVI CE S INF R A STRUC TURE B UI LT ON BLOC KCHAI N WI LL RE DRAW PROC E S SE S AND CALL I NTO QUE STION ORTH ODOXI E S THAT ARE FOUNDATI ONAL TO TODAY â&#x20AC;&#x2122; S BU SI NE S S MODE LS . - WORLD ECONOMIC FORUM

THE PRODUCT

C O M M U N I CAT I O N + C O L L A B O R AT I O N + DATA

M E S SENGER + GROUPS + ME DI A A SOCIAL FINANCE NETWORK THAT ENABLES MEMBERS TO ORGANIZE AND CONNECT ALL OF THEIR RELATIONSHIPS IN THE GLOBAL FINANCIAL MARKETS.

Offering Memorandum

THE PRODUCT

VA LU E • CONTENT DEVELOPMENT AND MONETIZATION • COLLECTIVE KNOWLEDGE DEVELOPMENT • SEARCH AND DISCOVERY • MARKETING AND SALES

TECH STACK

Offering Memorandum

T H E EVO LU TI O N O F TH E W E B WEB 0. 0 DEVELOPMENT OF THE INTERNET WEB 1.0 STATIC WEB / THE READ-ONLY WEB W E B 2. 0 SOCIAL WEB / THE READ-WRITE WEB W E B 3. 0 SEMANTIC WEB / STANDARDIZE INFORMATION AND SYSTEMS WEB 4.0 UBIQUITOUS WEB / INTERNET OF THINGS (IOT ) AND VALUE STORE ? WEB 5.0 EMOTIONAL WEB / OPEN, LINKED AND ARTIFICIALLY INTELLIGENT ?

T H E EVO LU TI O N O F G L X GL X 0. 0 DEVELOPMENT OF THE FINANCIAL GR APH GL X 1 . 0 CAPITAL MARKET DIRECTORY GL X 2. 0 S OCIAL FINANCE NET WORK GL X 3. 0 DISTRIBUTED NET WORK - DECENTR ALIZE /DEMOCR ATIZE FINANCIAL C OMMUNICATIONS & DATA GL X 4 . 0 BLOCKCHAIN POWERED - DATA DRIVEN DIGITAL RE ALIT Y ? GL X 5 . 0 AI / PRE SCIENT MARKETS ?

MILESTONES & ROADMAP

Offering Memorandum

MILESTONES & ROADMAP

Offering Memorandum

MILESTONES & ROADMAP

Offering Memorandum

MILESTONES & ROADMAP

W H AT ’ S S O FA S C I N AT I N G A “X” IS THE MOST PARADOXICAL AND POWERFUL LET

THE BROA D A R R AY O F M E AN I N G S A S S O CI ATED T H E AL P HAB E T S E E M MUNDA NE

ABOUT THE LETTER

TER — AND SYMBOL — OF THEM ALL?

W I T H “ X ” M A K E A L L T H E O T HE R L E T T E R S OF - O R PUNY - BY C OM PAR I S O N!

INTELLECTUAL PROPERTY

I N TEL L IGENC E • I DE NTI TY • I NTE RACTI ON INFRA STR UCTURE • I NNOVATI ON OVERVIEW GLX relies on a combination of trade secrets, know-how and continuing technological innovations to develop and maintain our competitive position. LEGAL AGREEMENTS It is our policy to require all related relationships (advisors, directors, consultants, employees, service providers, etc.) to execute all necessary engagement agreements, as well as confidentiality agreements, upon the commencement of their respective relationships and services with us. These agreements provide that all confidential information developed or made known during the course of the relationship is to be kept confidential, except in specific circumstances. In the case of employees and consultants, the agreements provide that all inventions resulting from work performed for GLX using our property or relating to our business and conceived or completed by the party during employment are our exclusive property to the extent permitted by law. TRADEMARKS G L X o w n s a p e n d i n g a p p l i c a t i o n fo r t h e m a r k G L X Pay. T h e a p p l i c a t i o n wa s f i l e d o n Fe b r u a r y 5, 2 0 1 8 a n d wa s a s s i g n e d S e r i a l N u m b e r 8 7/ 7 8 3,7 3 4 . We a l s o o w n a p e n d i n g a p p l i c a t i o n fo r t h e m a r k S OV E R E I G N I D E N T I T Y M A N A G E M E N T S TA N D A R D . T h e a p p l i c a t i o n wa s f i l e d o n Fe b r u a r y 1 4 , 2 0 1 8 a n d wa s a s s i g n e d S e r i a l N u m b e r 8 7/ 7 9 6,7 9 5. We a l s o o w n t wo re g i s t ra t i o n s fo r t h e m a r k VA LU E R I C H , n a m e l y, U S Tra d e m a r k R e g i s t ra t i o n N o . 4 4 5 4 6 2 8 i s s u e d o n D e c e m b e r 24 , 2 0 1 3 a n d U S Tra d e m a r k R e g i s t ra t i o n N o . 4 4 5 4 61 8 i s s u e d o n D e c e m b e r 24 , 2 0 1 3. We a n d E L X Fu t u re s , L . P. h a ve s i g n e d a s e t t l e m e n t a g re e m e n t re g a rd i n g t h e u s e a n d re g i s t ra t i o n of GLX. URL STRATEGY In addition to our data, software, and additional IP we have continually invested in the GLX brand. We have initiated our plan to have hundreds of multi-lingual sites to introduce GLX in

Offering Memorandum

INTELLECTUAL PROPERTY different parts of the world which will drive traffic to the GLX.com network. We have created our first test site at GLX.cat which is now live. I n a d d i t i o n t o G L X . c o m G L X o w n s h u n d re d s o f G L X re l a t e d t o p l e v e l d o m a i n s ( T L D s ) a s w e l l a s o t h e r i n d u s t r y k e y w o rd re l a t e d U R L s t o p r o t e c t t h e G L X b r a n d a n d b u s i n e s s m o d e l . A l i s t o f t h e s e d o m a i n s c a n b e v i e w e d o n o u r I n t e l l e c t u a l P ro p e r t y p a g e a t : G L X . c o m / i n t e l l e c t u a l p ro p e r t y.

GLX EQUITY TOKEN (X)

[THIS REMAINDER OF THIS SPACE WAS INTENTIONALLY LEFT BLANK]

TEAM

LEADERSHIP GLX is assembling an incredible team with diverse backgrounds in investment banking, technology, media, and publishing. FOUNDER

R O N A L D P. R U S S O , J R . FOUNDER, CHAIRMAN & CEO

IN HOUSE WEB DEVELOPMENT

E S T E B A N H U R TA D O

F E L I P E A L B E R T O LO P E Z

E N G I N E E R , C R M D E V E LO P E R

E N G I N E E R , P R OJ R C T M A N A G E R

WEB DEVELOPMENT

Offering Memorandum

TEAM

ADVISORY BOARD

GABRIEL ABED

B E N FA I R B A N K

VISHAL SINGH

M I C H A E L J . P I AT T

FOUNDER, BITT & DAF

G E N E R A L M A N A G E R , KO M O D O

FOUNDER, INNCRETECH

F O U N D E R , P I AT T I N N OVAT I O N

L A R RY J O H N S T O N

DAV I D L . R O N N

B A R RY R O M I C H

RUSS FELDKAMP

ADVISOR, SERIAL ENTREPRENEUR

PA R T N E R , O R R I C K

F O U N D E R , R O M I C H F O U N D AT I O N

OW N E R , F E L D K A M P M A R K E T I N G

FRANK HEILMANN

DAV I D D R A K E

F O U N D E R , F R A N KC O M

F O U N D E R , L DJ C A P I TA L

STRATEGIC PARTNERS

BUSINESS MODEL The GLX business model resembles that of a securities exchange combined with that of a high-traffic social networking destination site. However, because GLX aggregates data from all exchanges, the information is gathered, indexed, and presented in a standardized manner that allows participants to easily look across and into global markets. REVENUE MODEL GLX will monetize the platform from several large categories of revenues: • Subscription fees and access to higher level market data are the foundation of the model • The community and network overall will produce revenue from targeted marketing and advertising services • Contributed data that is aggregated over time becomes a valuable asset • Corporate services are offered to listed companies YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

Gross Revenue

$8.3 M

$26.5 M

$67.8 M

$149.6 M

$253.2 M

Gross Profit

$4.2 M

$14.9 M

$42.1 M

$99.6 M

$176.2 M

Expenses

$3.9 M

$5.0 M

$6.4 M

$9.4 M

$15.6 M

$238.9 K

$9.9 M

$35.6 M

$90.1 M

$160.6 M

Bonus Pool

$23.9 K

$986.8 K

$3.6 M

$9.0 M

$16.1 M

Provisions for Income Taxes

$86.0 K

$3.6 M

$12.8 M

$32.5 M

$57.8 M

$152.9 K

$6.3 M

$22.8 M

$57.7 M

$102.8 M

Income from Operations

Net Profit

GLX’s moderate scenario revenue projections are based on the following key assumptions: • • •

Premium Listing Fees will begin to scale as more and more corporate brands upgrade their GLX profile. Financial market data will become more robust as more underexposed stock exchanges customize their profiles and interlink data. Revenues from Advertising in the capital markets industries will demand a higher CPM rate than traditional media due to a more affluent demographic.

PRICING * Coming Soon! AVERAGE ACCOUNT SIZE AND / OR LIFETIME VALUE * Coming Soon!

Offering Memorandum

BUSINESS MODEL SALES & DISTRIBUTION MODEL * Coming Soon! CUSTOMER PIPELINE LIST * Coming Soon!

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FINANCIALS

PROFIT & LO S S (P& L) April 2015 (inception) through December 31, 2018

• •

2015 (Audited)

2016 (Audited)

2017

2018

- $ 6 51,2 3 2

- $ 2,0 3 4 ,67 1

- $ 2,1 0 6,4 67

- $ 2,3 2 7,11 4

2 0 1 5 / 2 0 1 6 - A u d i t e d S t a t e m e n t s c a n b e v i e we d a t : h t t p s : / /s 3. a m a z o n a w s . c o m /g l x - m e d i a / 2 0 1 5 -2 0 1 6 - A u d i t e d - Fi n a n c i a l - S t a t e m e n t s - G L X . p d f

2 0 1 7 / 2 0 1 8 - A u d i t s a re i n p ro c e s s

Offering Memorandum

FINANCIALS

BA L ANCE SH E E T (B S) April 2015 (inception) through December 31, 2018 2015 (Audited)

2016 (Audited)

2017

2018

$ 1 5 7,8 6 4

$ 4 4 4 ,0 81

$ 1,1 5 7,9 4 2

$ 1,4 2 3,1 51

VALUATION MODEL PROJECTIONS PROJECTED MEMBERS

AVG MEMBER MULTIPLE

PROJECTED REVENUES

AVG REVENUE MULTIPLE

PROJECTED VALUATION

YEAR 1

2.9 M

98.5

$8.3 M

34.8

$289.6 M

YEAR 2

9.3 M

98.5

$26.5 M

34.8

$920.7 M

YEAR 3

23.9 M

98.5

$67.8 M

34.8

$2.4 B

YEAR 4

52.9 M

98.5

$149.6 M

34.8

$5.2 B

YEAR 5

89.4 M

98.5

$253.2 M

34.8

$8.8 B

VA LUAT I O N N O T E S & D I S C U S S I O N GLX has no direct competitor and this market has not yet been tapped. There is no service that bridges financial communities together across the globe offering this unique type of data, content, and financial communication utilities. These intangibles can lead to far greater revenues than what is projected. Even with the most aggressive estimates, GLX conservatively assumes that it’ll capture 4% of the world’s retail investors (estimated at approximately 131 million people), 5.0% of the world’s publicly traded companies (currently estimated at 103,592 worldwide), and 10% of the world’s broker dealers. GLX is a hybrid-model unlike most other social networks. Our estimates for paid subscriptions for GLX’s content is also conservative, we forecast that .03% of views will sign up for paid content. This is a very small portion of the 131 million potentially interested retail investors. Companies will be able to reach their target audiences like never before. Premium listing services are one of many products that will enable companies to reach out effectively. However, there are many products and services that will be created along the way (which will translate into extra revenue) that will enable companies to better reach their target segments. As of now, companies have to blast out news wires to the public (like a TV commercial) and hope somebody reads it. This valuation does not consider strategic partnerships with exchanges and other financial market intermediaries. These types of arrangements will be inevitable given the amount of companies that will join our service. These partnerships are not taken into account in the valuation.

Offering Memorandum

USE OF PROCEEDS GROSS OFFERING Estimated Selling Commissions (10%) E s t i m a t e d Le g a l C o s t s TOTAL NET PROCEEDS

$ 2 ,0 0 0,0 0 0 $ 2 0 0,0 0 0 $ 2 5,0 0 0 $ 2 2 0,0 0 0 $ 1,7 5 0,0 0 0

ESTIMATED EXPENSES (12-MONTHS) CAPITAL EXPENDITURES A d ve r t i s i n g / M a r ke t i n g R e s e r ve Equipment I n t e l l e c t u a l P ro p e r t y S o f t wa re T O TA L COST OF GOODS SOLD D a t a Fe e d s H o s t i n g / S e r ve r s T O TA L

$ 4 0 0,0 0 0 $ 2 5,0 0 0 $ 2 5,0 0 0 $ 1 5,0 0 0 $ 4 6 5 ,0 0 0

$ 9 6,0 0 0 $ 2 3,5 0 0 $ 11 9, 5 0 0

PERSONNEL - MANAGEMENT P re s i d e n t & C E O CFO CTO B i z D e v / S a l e s D i re c t o r T O TA L

$ 1 5 0,0 0 0 $ 1 2 0,0 0 0 $ 1 2 0,0 0 0 $ 9 0,0 0 0 $ 4 8 0,0 0 0

PERSONNEL - DEVELOPMENT B l o c k c h a i n D e ve l o p e r Blockchain Engineer E n g i n e e r, C R M D e ve l o p e r E n g i n e e r, D a t a D e ve l o p e r E n g i n e e r, D a t a b a s e A d m i n i s t ra t o r Fro n t - E n d D e ve l o p e r Fro n t - E n d D e ve l o p e r Fu l l S t a c k D e ve l o p e r Fu l l S t a c k D e ve l o p e r Fu l l S t a c k D e ve l o p e r Fu l l S t a c k D e ve l o p e r S r. D a t a I n t e g ra t o r S r. S o f t wa re E n g i n e e r, P M S r. U X / U I D e ve l o p e r TOTAL

$ 4 5,0 0 0 $ 5 4 ,0 0 0 $ 3 0,0 0 0 $ 3 0,0 0 0 $ 3 8,4 0 0 $ 4 ,8 0 0 $ 2 6,4 0 0 $ 1 5,6 0 0 $ 1 8,0 0 0 $ 1 8,0 0 0 $ 2 0,0 0 0 $ 4 5,0 0 0 $ 6 2,4 0 0 $ 4 5,0 0 0 $ 4 5 2 ,6 0 0

GENERAL WORKING CAPITAL A d ve r t i s i n g , M a r ke t i n g & P ro m o t i o n a l B a n k C h a rg e s C o m p u t e r s , Pe r i p h e ra l s & S o f t wa re ( N o n - C a p i t a l i z e d ) C o n fe re n c e s & E ve n t s ( N o n - M a r ke t i n g ) D i g i t a l M a r ke t i n g / A d ve r t i s i n g Dues & Subscriptions I n s u ra n c e E x p e n s e M a r ke t i n g E ve n t s , C o n fe re n c e s & Tra d e s h o w s Meals and Entertainment Office Expenses Po s t a g e & D e l i ve r y P r i n t i n g & P ro d u c t i o n P ro fe s s i o n a l Fe e s - Le g a l P ro fe s s i o n a l Fe e s - M a r ke t i n g P ro fe s s i o n a l Fe e s - M i s c P ro m o t i o n a l M a t e r i a l s Rent Expense Supplies Ta xe s - S t a t e & Lo c a l Te l e c o m m u n i c a t i o n - P h o n e & I n t e r n e t Tra ve l Utilities TOTAL GRAND TOTAL EXCESS EXPANSION CAPITAL

$ 5,4 3 3 $ 4 ,5 0 0 $ 1 5,9 0 2 $ 2,0 8 5 $ 3,9 2 2 $ 1,74 2 $ 7,5 0 0 $ 6,8 6 9 $ 1 6,3 8 2 $ 3,7 3 7 $ 8,3 1 4 $526 $ 24 ,7 2 1 $ 1 7,9 5 5 $750 $705 $ 3 6,0 0 0 $ 51 3 $659 $ 1 6,4 0 6 $ 2 9,6 5 0 $ 2,8 24 $ 2 0 7,0 9 5 $ 1 ,7 2 4 ,1 9 5 $805

LEARN MORE

LE A RN MO RE KEYWORDS Anti-Money Laundering (AML) Blockchain C o u n t e r -Te r ro r i s t Fi n a n c i n g ( C T F ) C r y p t o c u r re n c y D i s t r i b u t e d Le d g e r Ether E t h e re u m E xc h a n g e C o n t ro l s Fi n a n c i a l I n n ova t i o n Fi n a n c i a l R e g u l a t i o n Fi n a n c i a l S t a b i l i t y

Fi n a n c i a l Te c h n o l o g y Fi n C E N Fi n t e c h I n i t i t a l C o i n O f fe r i n g ( I C O ) K n o w Yo u r C u s t o m e r ( K YC ) M o n e t a r y Po l i c y Pay m e n t Te c h n o l o g i e s S ex u r i t y T k e n O f fe r i n g ( S T O ) Ta x E va s i o n V i r t u a l C u r re n c y

SOURCES O n l i n e re s e a rc h wa s d o n e o n G o o g l e u s i n g va r i o u s s o u rc e s i n c l u d i n g b u t n o t l i m i t e d t o t h e U R Lâ&#x20AC;&#x2122;s p rov i d e d h e re i n : b i t c o i n . o rg b u r t o n - t a y l o r. c o m c e n s u s . g ov c i a . g ov coindesk.com google.com i m f. o rg i n t e r n e t wo r l d s t a t s . c o m i nve s t o p e d i a . c o m

kpmg.com p b s . o rg re fe re n c e . c o m statista.com s t ra t e g y r. c o m thinkingeconomics.net wikipedia.com w o r l d b a n k . o rg visualcapitalist.com

GLX SITES C o r p o ra t e GLX.co

D e ve l o p m e n t GLXLabs.com

Social GLX.com

Explorer G L X . i n fo

Fo u n d a t i o n G L X . o rg

Offering Memorandum

SUBSCRIPTION PROCEDURES

S U B S C R I PTI ON PROCEDURE S AN D VE RI FI CATI O N REQUIREMEN TS ACCESS TO INFORMATION E a c h I nve s t o r, a n d t h e i r a d v i s o r s , a re i nv i t e d t o re v i e w a ny m a t e r i a l s a va i l a b l e t o u s re l a t i n g t o o u r C o m p a ny, o u r p l a n o f o p e ra t i o n , o u r m a n a g e m e n t , o u r f i n a n c i a l c o n d i t i o n , t h i s O f fe r i n g a n d a ny o t h e r m a t t e r re l a t i n g t o t h i s O f fe r i n g . We w i l l a f fo rd yo u a n d yo u r a d v i s o r s t h e o p p o r t u n i t y t o a s k q u e s t i o n s o f, a n d re c e i ve a n s w e r s f ro m , o u r o f f i c e r s c o n c e r n i n g s u c h m a t t e rs a n d t o o b t a i n a ny a d d i t i o n a l i n fo r m a t i o n ( t o t h e ex t e n t w e p o s s e s s s u c h i n fo r m a t i o n a n d c a n a c q u i re i t w i t h o u t u n re a s o n a b l e ex p e n s e ) n e c e s s a r y t o ve r i f y t h e a c c u ra c y o f a ny i n fo r m a t i o n s e t fo r t h i n t h e O f fe r i n g M e m o ra n d u m . SUITABILITY I nve s t m e n t i n t h e To k e n s i nvo l ve s s i g n i f i c a n t r i s k s a n d i s s u i t a b l e o n l y fo r p e r s o n s o f a d e q u a t e f i n a n c i a l m e a n s w h o h a ve n o n e e d fo r l i q u i d i t y w i t h re s p e c t t o t h i s i nve s t m e n t a n d w h o c a n b e a r t h e e c o n o m i c r i s k o f a c o m p l e t e l o s s o f t h e i r i nve s t m e n t . T h e O f fe r i n g i s m a d e i n re l i a n c e o n exe m p t i o n s f ro m t h e re g i s t ra t i o n re q u i re m e n t s o f t h e S e c u r i t i e s A c t a n d a p p l i c a b l e s t a t e s e c u r i t i e s l a w s a n d re g u l a t i o n s . T h e s u i t a b i l i t y s t a n d a rd s d i s c u s s e d b e l o w re p re s e n t m i n i m u m s u i t a b i l i t y s t a n d a rd s fo r I nve s t o rs . T h e s a t i s fa c t i o n o f s u c h s t a n d a rd s by a I nve s t o r d o e s n o t n e c e s s a r i l y m e a n t h a t t h e To ke n s a re a s u i t a b l e i nve s t m e n t fo r s u c h I nve s t o r. I nve s t o r s a re e n c o u ra g e d t o c o n s u l t t h e i r p e rs o n a l f i n a n c i a l a d v i s o r s t o d e t e r m i n e w h e t h e r a n i nve s t m e n t i n t h e To k e n s a re a p p ro p r i a t e . T h e C o m p a ny m a y re j e c t s u b s c r i p t i o n s , i n w h o l e o r i n p a r t , i n i t s a b s o l u t e d i s c re t i o n . T h e C o m p a ny w i l l re q u i re e a c h I nve s t o r t o re p re s e n t i n w r i t i n g , a m o n g o t h e r t h i n g s , t h a t : ( i ) by re a s o n o f t h e I nve s t o r ’s b u s i n e s s o r f i n a n c i a l ex p e r i e n c e , o r t h a t o f t h e I nve s t o r ’s p ro fe s s i o n a l a d v i s o r, t h e I nve s t o r i s c a p a b l e o f e va l u a t i n g t h e m e r i t s a n d r i s k s o f a n i nve s t m e n t i n t h e To k e n s a n d o f p ro t e c t i n g i t s o w n i n t e re s t s i n c o n n e c t i o n w i t h t h e t ra n s a c t i o n ; ( i i ) t h e I nve s t o r i s a c q u i r i n g t h e To k e n s fo r i t s o w n a c c o u n t , fo r i nve s t m e n t o n l y a n d n o t w i t h a v i e w t o wa rd t h e re s a l e o r d i s t r i b u t i o n t h e re o f ; ( i i i ) t h e I nve s t o r i s a wa re t h a t t h e To k e n s h a ve n o t b e e n re g i s t e re d u n d e r t h e S e c u r i t i e s A c t o r a ny s t a t e s e c u r i t i e s l a w s ;

SUBSCRIPTION PROCEDURES ( i v ) t h e I nve s t o r i s a wa re o f, a n d h a s exe c u t e d a n d d e l i ve re d , t h e s u b s c r i p t i o n a g re e m e n t t o b e e n t e re d i n t o i n c o n n e c t i o n w i t h t h e p u rc h a s e o f t h e To k e n s ; ( v ) t h e I nve s t o r i s a wa re o f t h e a b s e n c e o f a m a r k e t fo r t h e To k e n s ; a n d ( v i ) u n l e s s o t h e r w i s e a p p rove d by t h e C o m p a ny, s u c h I nve s t o r m e e t s t h e s u i t a b i l i t y re q u i re m e n t s s e t fo r t h b e l o w. GLX.COM MEMBERSHIP AND CREDENTIALS To i nve s t i n t h i s O f fe r i n g , I nve s t o r s w i l l n e e d t o f i r s t b e c o m e m e m b e r s o f t h e G L X . c o m n e t w o r k by c re a t i n g a n a c c o u n t a n d re g i s t e r i n g a t h t t p s : / / G L X . c o m . A f t e r c re a t i n g a n a c c o u n t , I nve s t o rs w i l l b e a s k e d t o p rov i d e p e r s o n a l l y i d e n t i f i a b l e i n fo r m a t i o n ( P I I ) t o p a r t i c i p a t e i n t h e O f fe r i n g . T h i s i n fo r m a t i o n i s re q u i re d t o e n s u re c o m p l i a n c e w i t h va r i o u s s e c u r i t i e s l a w s o f t h e U n i t e d S t a t e s a n d fo re i g n j u r i s d i c t i o n s , a s w e l l a s t h e K n o w Yo u r C u s t o m e r ( K YC ) / A n t i - M o n e y L a u n d e r i n g ( A M L ) / C o u n t e r Te r ro r i s t Fi n a n c i n g ( C T F ) re q u i re m e n t s . I nve s t o rs w i l l b e a s ke d t o p rov i d e , a m o n g o t h e r, t h e fo l l o w i n g b a s i c i n fo r m a t i o n : (a) Name; (b) Date of Birth; ( c ) A d d re s s o r P r i n c i p a l P l a c e o f B u s i n e s s ; ( d ) I d e n t i f i c a t i o n N u m b e r ( i . e . S o c i a l S e c u r i t y N u m b e r, Ta x I d e n t i f i c a t i o n N u m b e r, Pa s s p o r t N u m b e r ) ; ( e ) G ove r n m e n t - I s s u e d D o c u m e n t s ; a n d ( f ) A ny o t h e r i n fo r m a t i o n t h a t m ay b e re q u i re d u n d e r a p p l i c a b l e l a w fo r K YC / A M L / C T F. T h e p rov i s i o n o f i n fo r m a t i o n re l a t e d t o t h e j u r i s d i c t i o n i n w h i c h a n I nve s t o r re s i d e s w i l l d i c t a t e t h e i r l e g a l re q u i re m e n t s fo r p a r t i c i p a t i o n i n t h i s O f fe r i n g . I nve s t o r s f ro m j u r i s d i c t i o n s o t h e r t h a n t h e U n i t e d S t a t e s , m a y b e re q u i re d t o p rov i d e a d d i t i o n a l i n fo r m a t i o n d e p e n d i n g o n t h e K YC / A M L / C T F re q u i re m e n t i n t h e i r re s p e c t i ve j u r i s d i c t i o n s . U.S. ACCREDITED INVESTORS T h e C o m p a ny i s o f fe r i n g t h e G L X C l a s s A C o m m o n E q u i t y To k e n s ( X ) t o U . S . I nve s t o r s u n d e r a n exe m p t i o n f ro m s e c u r i t i e s re g i s t ra t i o n a f fo rd e d by R e g u l a t i o n D , R u l e 5 0 6 ( c ) , w h i c h re q u i re s t h e C o m p a ny t o t a k e “ re a s o n a b l e s t e p s ” t o ve r i f y t h a t e a c h I nve s t o r i s “A c c re d i t e d , ” p r i o r

Offering Memorandum

SUBSCRIPTION PROCEDURES t o a l l o w i n g t h e m t o p u rc h a s e t h e To k e n s . A n I nve s t o r m u s t q u a l i f y a s a n A c c re d i t e d I nve s t o r b a s e d o n t h e q u a l i f i c a t i o n s p rov i d e d b e l o w : A c c r e d i t a t i o n fo r I n d i v i d u a l s U . S . I nve s t o rs w h o w i s h t o p u rc h a s e t h e To k e n s a s a n A c c re d i t e d I nve s t o r m u s t m e e t t h e fo l l o w i n g s t a n d a rd s a s d e f i n e d by S E C R u l e s 5 0 1 a n d 5 0 6 a n d p rov i d e ve r i f i c a t i o n d o c u m e n t s . ( a ) A n a t u ra l p e r s o n w h o h a s i n d i v i d u a l n e t w o r t h , o r j o i n t n e t w o r t h w i t h t h e p e r s o n ’s s p o u s e , t h a t exc e e d s o n e m i l l i o n U S D ( $ 1,0 0 0,0 0 0 ) a t t h e t i m e o f t h e p u rc h a s e , exc l u d i n g t h e va l u e o f t h e p r i m a r y re s i d e n c e o f s u c h p e r s o n ; o r ( b ) A n a t u ra l p e r s o n w i t h i n c o m e exc e e d i n g t w o h u n d re d t h o u s a n d U S D ( $ 2 0 0,0 0 0 ) i n e a c h o f t h e t w o m o s t re c e n t ye a r s o r j o i n t i n c o m e w i t h a s p o u s e exc e e d i n g t h re e h u n d re d t h o u s a n d U S D ( $ 3 0 0,0 0 0 ) fo r t h o s e ye a r s a n d a re a s o n a b l e ex p e c t a t i o n o f t h e s a m e i n c o m e l e ve l i n t h e c u r re n t ye a r.

Ve r i f i c a t i o n P ro c e s s : A n I nve s t o r w h o w i s h e s t o i nve s t i n t h i s O f fe r i n g w i l l b e re q u i re d t o p rov i d e ve r i f i c a t i o n o f t h e i r q u a l i f i c a t i o n s by o n e o f t h e fo l l o w i n g m e a n s : T h i s c a n b e s a t i s f i e d by s u b s t a n t i a t i n g a n d u p l o a d i n g ve r i f i c a t i o n d o c u m e n t s . 1. I n c o m e B a s e d Ve r i f i c a t i o n - t h e I nve s t o r m u s t p rov i d e : ( a ) C o p i e s o f a ny I R S d o c u m e n t s t h a t s h o w s i n c o m e ( W -2, K-1, Fo r m 1 0 9 9 o r 1 0 4 0 ) fo r t h e l a s t t w o ( 2 ) ye a r s ; a n d ( b ) W r i t t e n ve r i f i c a t i o n t h a t t h e I nve s t o r w i l l re a c h a c c re d i t e d l i m i t s i n t h e c u r re n t ye a r. 2. N e t Wo r t h - B a s e d Ve r i f i c a t i o n - t h e I nve s t o r m u s t p rov i d e : ( a ) D o c u m e n t s d a t e d w i t h i n t h e p a s t t h re e ( 3 ) m o n t h s , o f t h e fo l l o w i n g d o c u m e n t s : b a n k s t a t e m e n t s , b ro k e ra g e s t a t e m e n t s , a n d o t h e r s t a t e m e n t s o f s e c u r i t i e s h o l d i n g s , c e r t i f i c a t e o f d e p o s i t , t a x a s s e s s m e n t s , ( t o c o n f i r m a s s e t s ) , a p p ra i s a l re p o r t s i s s u e d by a n i n d e p e n d e n t t h i rd p a r t y, a c re d i t re p o r t f ro m a t l e a s t o n e o f t h e n a t i o nw i d e c o n s u m e r re p o r t i n g a g e n c i e s , ( t o c o n f i r m l i a b i l i t i e s ) ; a n d ( b ) W r i t t e n s t a t e m e n t f ro m t h e I nve s t o r t h a t a l l l i a b i l i t i e s n e c e s s a r y t o m a k e a d e t e r m i n a t i o n o f n e t w o r t h h a ve b e e n d i s c l o s e d . 3. T h i r d Pa r t y Ve r i f i c a t i o n - t h e I nve s t o r m u s t p rov i d e a w r i t t e n c o n f i r m a t i o n ( “ T h i rd Pa r t y Ve r i f i c a t i o n Le t t e r ” ) f ro m a re g i s t e re d b ro k e r - d e a l e r, a n S E C - re g i s t e re d i nve s t m e n t

SUBSCRIPTION PROCEDURES a d v i s e r, a l i c e n s e d a t t o r n e y, o r a c e r t i f i e d p u b l i c a c c o u n t a n t ( C PA ) t h a t s u c h Pe r s o n h a s t a ke n re a s o n a b l e s t e p s t o ve r i f y t h a t t h e I nve s t o r i s a n A c c re d i t e d I nve s t o r w i t h i n t h e p r i o r t h re e ( 3 ) m o n t h s a n d h a s d e t e r m i n e d t h a t s u c h p u rc h a s e i s a n A c c re d i t e d I nve s t o r. 4 . R o l l - O ve r A c c r e d i t e d - t h o s e p e o p l e w h o w e re t re a t e d a s A c c re d i t e d I nve s t o r s u n d e r a p r i o r R u l e 5 0 6 o f fe r i n g by t h e s a m e i s s u e r a re d e e m e d t o b e A c c re d i t e d I nve s t o r s i n f u t u re R u l e 5 0 6 ( c ) o f fe r i n g s , p rov i d e d t h a t s u c h I nve s t o r c e r t i f i e d t h a t h e i s a n A c c re d i t e d I nve s t o r. D e f i n i t i o n o f Le g a l E n t i t i e s 1. A b a n k a s d e f i n e d i n S e c t i o n 3 ( a ) ( 2 ) o f t h e S e c u r i t i e s A c t , o r a s a v i n g s a n d l o a n a s s o c i a t i o n or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting i n i t s i n d i v i d u a l o r f i d u c i a r y c a p a c i t y ; a b ro ke r o r d e a l e r re g i s t e re d p u r s u a n t t o S e c t i o n 1 5 o f t h e S e c u r i t i e s E xc h a n g e A c t o f 1 9 3 4 ; a n i n s u ra n c e c o m p a ny a s d e f i n e d i n S e c t i o n 2 ( 1 3 ) o f t h e S e c u r i t i e s A c t ; a n i nve s t m e n t c o m p a ny re g i s t e re d u n d e r t h e I nve s t m e n t C o m p a ny A c t o f 1 9 4 0 o r a b u s i n e s s d e ve l o p m e n t c o m p a ny a s d e f i n e d i n s e c t i o n 2 ( a ) ( 4 8 ) o f t h a t A c t ; a S m a l l B u s i n e s s I nve s t m e n t C o m p a ny l i c e n s e d by t h e U n i t e d S t a t e s S m a l l B u s i n e s s A d m i n i s t ra t i o n u n d e r S e c t i o n 3 0 1 ( c ) o r ( d ) o f t h e S m a l l B u s i n e s s I nve s t m e n t A c t o f 1 9 5 8 ; a p l a n e s t a b l i s h e d a n d m a i n t a i n e d by a s t a t e , i t s p o l i t i c a l s u b d i v i s i o n s , o r a ny a g e n c y o r i n s t r u m e n t a l i t y o f a s t a t e o r i t s p o l i t i c a l s u b d i v i s i o n , fo r t h e b e n e f i t o f i t s e m p l oye e s , i f s u c h p l a n h a s t o t a l a s s e t s i n exc e s s o f $ 5,0 0 0,0 0 0 ; a n e m p l oye e b e n e f i t p l a n w i t h i n t h e m e a n i n g o f t h e E m p l oye e R e t i re m e n t I n c o m e S e c u r i t y A c t o f 1 9 74 , i f t h e i nve s t m e n t d e c i s i o n i s m a d e by a p l a n f i d u c i a r y, a s d e f i n e d i n S e c t i o n 3 ( 2 1 ) o f t h a t A c t , w h i c h i s e i t h e r a b a n k , s a v i n g s a n d l o a n a s s o c i a t i o n , i n s u ra n c e c o m p a ny, o r re g i s t e re d i nve s t m e n t a d v i s o r, o r i f t h e e m p l oye e b e n e f i t p l a n h a s t o t a l a s s e t s i n exc e s s o f $ 5,0 0 0,0 0 0 o r, i f a s e l f - d i re c t e d p l a n w i t h t h e i nve s t m e n t d e c i s i o n s m a d e s o l e l y by p e r s o n s t h a t a re A c c re d i t e d I nve s t o r s . 2. A p r i va t e b u s i n e s s d e ve l o p m e n t c o m p a ny a s d e f i n e d i n S e c t i o n 2 0 2 ( a ) ( 2 2 ) o f t h e I nve s t m e n t A d v i s o rs A c t o f 1 9 4 0 ; 3. A n o rg a n i z a t i o n d e s c r i b e d i n S e c t i o n 5 0 1 ( c ) ( 3 ) o f t h e I n t e r n a l R e ve n u e C o d e , c o r p o ra t i o n , M a s s a c h u s e t t s o r s i m i l a r b u s i n e s s t r u s t , o r p a r t n e rs h i p , n o t fo r m e d fo r t h e s p e c i f i c p u r p o s e o f a c q u i r i n g t h e To k e n s , w i t h t o t a l a s s e t s i n exc e s s o f $ 5,0 0 0,0 0 0. 4 . A d i re c t o r o r exe c u t i ve o f f i c e r o f t h e C o m p a ny ; 5. A t r u s t , w i t h t o t a l a s s e t s i n exc e s s o f $ 5,0 0 0,0 0 0, n o t fo r m e d fo r t h e s p e c i f i c p u r p o s e o f a c q u i r i n g t h e s e c u r i t i e s o f fe re d , w h o s e p u rc h a s e i s d i re c t e d by a s o p h i s t i c a t e d p e rs o n a s described in Rule 506(b)(2)(ii) of Regulation D; and 6. A n e n t i t y i n w h i c h a l l o f t h e e q u i t y o w n e r s a re A c c re d i t e d I nve s t o r s ( a s d e f i n e d a b ove ) .

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SUBSCRIPTION PROCEDURES A c c r e d i t a t i o n fo r Le g a l E n t i t i e s Le g a l E n t i t i e s w h o w i s h t o p u rc h a s e t h e C o m p a ny â&#x20AC;&#x2122;s To k e n s i n t h i s O f fe r i n g , m u s t m e e t t h e fo l l o w i n g s t a n d a rd s a s d e f i n e d by S E C R u l e s 5 0 1 a n d 5 0 6. 1. A b a n k , i n s u ra n c e c o m p a ny, r e g i s t e r e d i nve s t m e n t c o m p a ny, b u s i n e s s d e ve l o p m e n t c o m p a ny, o r s m a l l b u s i n e s s i nve s t m e n t c o m p a ny, m u s t p r ov i d e : ( a ) D o c u m e n t s p rov i n g i t s re g i s t ra t i o n a s s u c h a n e n t i t y ; a n d ( b ) D o c u m e n t s s i g n e d by t h e a u t h o r i z e d p e r s o n a p p rov i n g t h e i nve s t m e n t . 2. A n e m p l oye e b e n e f i t p l a n , w i t h i n t h e m e a n i n g o f t h e E m p l oye e R e t i r e m e n t I n c o m e S e c u r i t y A c t , i f a b a n k , i n s u ra n c e c o m p a ny, o r r e g i s t e r e d i nve s t m e n t a d v i s e r m a ke s t h e i nve s t m e n t d e c i s i o n s , o r i f t h e p l a n h a s t o t a l a s s e t s i n exc e s s o f f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) . ( a ) A b a n k , i n s u ra n c e c o m p a ny, o r re g i s t e re d i nve s t m e n t a d v i s e r m u s t s i g n t h e q u a l i f i c a t i o n s t a t e m e n t o n b e h a l f o f t h e i nve s t o r ; o r ( b ) D o c u m e n t s p rov i n g t h a t t h e p l a n h a s t o t a l a s s e t s i n exc e s s o f f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) . 3. A c h a r i t a b l e o rg a n i z a t i o n , c o r p o ra t i o n , o r p a r t n e r s h i p w i t h a s s e t s exc e e d i n g f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) , m u s t p r ov i d e : ( a ) A c o py o f t h e fo r m a t i o n c e r t i f i c a t e a n d a g re e m e n t , a n d a c o m p a ny re s o l u t i o n o r o t h e r d o c u m e n t a u t h o r i z i n g t h e i nve s t m e n t s i g n e d by t h e re q u i s i t e p a r t i e s i d e n t i f i e d by s u c h a n a g re e m e n t ; a n d ( b ) D o c u m e n t a t i o n t h a t t h e c o m p a ny h a s ove r f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) i n a s s e t s such as a bank statement or financial statement showing its assets and liabilities. 4 . A d i r e c t o r, exe c u t i ve o f f i c e r, o r g e n e ra l p a r t n e r o f t h e c o m p a ny s e l l i n g t h e s e c u r i t i e s ; or 5. A b u s i n e s s i n w h i c h a l l t h e e q u i t y o w n e r s a re A c c re d i t e d I nve s t o r s , m u s t p rov i d e : ( a ) A c o py o f t h e fo r m a t i o n c e r t i f i c a t e a n d a g re e m e n t , a n d a c o m p a ny re s o l u t i o n o r o t h e r d o c u m e n t a u t h o r i z i n g t h e i nve s t m e n t s i g n e d by t h e re q u i s i t e p a r t i e s i d e n t i f i e d by s u c h a n a g re e m e n t ; a n d ( b ) D o c u m e n t a t i o n f ro m e a c h o f t h e e q u i t y o w n e r s d e m o n s t ra t i n g t h a t a l l o f t h e e q u i t y

SUBSCRIPTION PROCEDURES o w n e rs a re A c c re d i t e d I nve s t o r s . 6. A t r u s t w i t h a s s e t s i n exc e s s o f f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) , n o t fo r m e d t o a c q u i re t h e s e c u r i t i e s o f fe re d , w h o s e p u rc h a s e s a s o p h i s t i c a t e d p e r s o n m a k e s , m u s t p rov i d e : ( a ) A c o py o f t h e t r u s t , a g e n cy o r o t h e r a g re e m e n t a n d a d o c u m e n t a u t h o r i z i n g t h e i nve s t m e n t s i g n e d by t h e re q u i s i t e p a r t i e s i d e n t i f i e d i n s u c h a n a g re e m e n t ; a n d ( b ) D o c u m e n t a t i o n t h a t t h e t r u s t q u a l i f i e s a s a n A c c re d i t e d I nve s t o r b e c a u s e ( a ) i t h a s ove r f i ve m i l l i o n U S D ( $ 5,0 0 0,0 0 0 ) , i n a s s e t s , a n d ( b ) t h a t i t wa s n o t fo r m e d t o a c q u i re t h e To ke n s . A s u s e d i n t h i s O f fe r i n g M e m o ra n d u m , t h e t e r m “ n e t w o r t h ” m e a n s t h e exc e s s o f t o t a l a s s e t s ove r t o t a l l i a b i l i t i e s . I n c o m p u t i n g n e t w o r t h fo r t h e p u r p o s e o f ( 1 ) a b ove , t h e p r i n c i p a l re s i d e n c e o f t h e I nve s t o r m u s t b e va l u e d a t c o s t , i n c l u d i n g c o s t o f i m p rove m e n t s , o r a t re c e n t l y a p p ra i s e d va l u e by a n i n s t i t u t i o n a l l e n d e r m a k i n g a s e c u re d l o a n , n e t o f e n c u m b ra n c e s . I n d e t e r m i n i n g i n c o m e , a n I nve s t o r s h o u l d a d d t o t h e I nve s t o r ’s a d j u s t e d g ro s s i n c o m e a ny a m o u n t s a t t r i b u t a b l e t o t a x exe m p t i n c o m e re c e i ve d , l o s s e s c l a i m e d a s a l i m i t e d p a r t n e r i n a ny l i m i t e d p a r t n e r s h i p , d e d u c t i o n s c l a i m e d fo r d e p l e t i o n , c o n t r i b u t i o n s t o a n I R A o r o t h e r re t i re m e n t p l a n , a l i m o ny p a y m e n t s , a n d a ny a m o u n t by w h i c h i n c o m e f ro m l o n g t e r m c a p i t a l g a i n s h a s b e e n re d u c e d i n a r r i v i n g a t a d j u s t e d g ro s s i n c o m e . A ny p e rs o n o r e n t i t y w h o m e e t s t h e s u i t a b i l i t y s t a n d a rd s s e t fo r t h h e re i n a n d w h o d e s i re s t o p u rc h a s e To k e n s o f fe re d h e re by s h a l l b e re q u i re d t o d e l i ve r a l l o f t h e fo l l o w i n g t o t h e C o m p a ny p r i o r t o s u c h p u rc h a s e : ( a ) S i g n e d o r i g i n a l c o p i e s o f t h e S u b s c r i p t i o n A g re e m e n t . O n e a c h s i g n a t u re p a g e , t h e I nve s t o r m u s t s i g n , p r i n t h i s , h e r o r i t s n a m e , a d d re s s , a n d s o c i a l s e c u r i t y n u m b e r o r t a x i d e n t i f i c a t i o n n u m b e r w h e re i n d i c a t e d a n d p r i n t t h e n u m b e r o f To ke n s p u rc h a s e d a n d t h e d a t e o f exe c u t i o n . T h e S u b s c r i p t i o n A g re e m e n t w i l l b e u s e d by t h e C o m p a ny t o d e t e r m i n e w h e t h e r t h e I nve s t o r i s a n “A c c re d i t e d I nve s t o r, ” w h e t h e r h e o r s h e h a s t h e re q u i s i t e k n o w l e d g e a n d ex p e r i e n c e i n f i n a n c i a l a n d b u s i n e s s m a t t e r s t o b e c a p a b l e o f e va l u a t i n g t h e m e r i t s a n d r i s k s o f a p u rc h a s e o f t h e To k e n s , a n d t o d e t e r m i n e w h e t h e r s t a t e s u i t a b i l i t y re q u i re m e n t s h a ve b e e n m e t . A l l q u e s t i o n s m u s t b e a n s w e re d i n f u l l . I f t h e a n sw e r t o a ny q u e s t i o n i s “ n o ” o r “ n o t a p p l i c a b l e , ” p l e a s e s o s t a t e . T h e l a s t p a g e o f t h e S u b s c r i p t i o n A g re e m e n t m u s t c o n t a i n t h e p r i n t e d n a m e o f t h e I nve s t o r, t h e re q u i re d s i g n a t u re a n d t h e d a t e o f exe c u t i o n . T h e C o m p a ny re s e r ve s t h e r i g h t t o a c c e p t o r re j e c t a ny s u b s c r i p t i o n fo r To k e n s i n w h o l e o r p a r t fo r a ny re a s o n w h a t s o e ve r. I f a I nve s t o r i s re j e c t e d by t h e C o m p a ny, a l l f u n d s t e n d e re d fo r i nve s t m e n t w i l l b e re t u r n e d t o t h e I nve s t o r, w i t h o u t i n t e re s t o r d e d u c t i o n , p ro m p t l y a f t e r s u c h re j e c t i o n , a l o n g w i t h n o t i c e t h e re o f. VERIFICATION OF INFORMATION / RELEVANT DOCUMENTS

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SUBSCRIPTION PROCEDURES A f t e r re c e i v i n g t h e a b ove i n fo r m a t i o n / re l e va n t d o c u m e n t s f ro m t h e I nve s t o r, t h e C o m p a ny, o r a t h i rd p a r t y a p p o i n t e d by t h e C o m p a ny w i l l re v i e w a n d ve r i f y t h e i n fo r m a t i o n / re l e va n t d o c u m e n t s p rov i d e d i n o rd e r t o d e t e r m i n e w h e t h e r t h e I nve s t o r q u a l i f i e s fo r t h i s O f fe r i n g a n d h i s / h e r / i t s e l i g i b i l i t y t o p a r t i c i p a t e i n t h i s O f fe r i n g . ACCEPTANCE OF SUBSCRIPTION A f t e r ve r i f y i n g t h e i n fo r m a t i o n / re l e va n t d o c u m e n t s , t h e C o m p a ny w i l l b e a b l e t o d e t e r m i n e w h e t h e r t h e I nve s t o r w i l l b e a b l e t o p a r t i c i p a t e i n t h i s O f fe r i n g . T h e C o m p a ny w i l l i n fo r m I nve s t o rs w h e t h e r t h e y h a ve b e e n s u c c e s s f u l i n s u b s c r i b i n g t o t h e O f fe r i n g ( “ S u b s c r i p t i o n E l i g i b i l i t y C o n f i r m a t i o n ” ) . U p o n re c e i p t o f t h e S u b s c r i p t i o n E l i g i b i l i t y C o n f i r m a t i o n f ro m t h e C o m p a ny a s m e n t i o n e d a b ove , t h e I nve s t o r s h o u l d l o g i n t o t h e i r G L X a c c o u n t a n d fo l l o w t h e re m a i n i n g p ro m p t s t o s p e c i f y i nve s t m e n t a m o u n t a n d s e e t h e e s t i m a t e d To k e n a m o u n t , c o n f i r m t h e i r i nve s t m e n t , a n d m a k e p ay m e n t t o f i n a l i z e t h e t ra n s a c t i o n . RIGHT TO REJECT SUBSCRIPTION D o c u m e n t s p re s e n t e d by p o t e n t i a l I nve s t o r s w h o d o n o t m e e t t h e e l i g i b i l i t y s t a n d a rd s fo r s u b s c r i b i n g t o t h i s O f fe r i n g o r a p p l i c a t i o n s w h i c h h a ve n o t b e e n p ro p e r l y c o m p l e t e d , w i l l b e p ro m p t l y re j e c t e d . P r i o r t o a c c e p t a n c e , t h e C o m p a ny re s e r ve s t h e r i g h t t o re f u s e a s u b s c r i p t i o n f ro m a ny a n d a l l I nve s t o r s a t t h e C o m p a ny ’s s o l e d i s c re t i o n a n d / o r re q u e s t a d d i t i o n a l i n fo r m a t i o n / d o c u m e n t s t o ve r i f y a n I nve s t o r ’s s u i t a b i l i t y fo r t h i s O f fe r i n g . A d d i t i o n a l l y, s u b s c r i p t i o n s m a y n o t b e a c c e p t e d i n t h e o rd e r re c e i ve d a n d To k e n s m a y b e a l l o c a t e d a m o n g s u b s c r i b e r s w h o s u b s c r i b e d e a r l y i n t h e O f fe r i n g p e r i o d a n d fo r s i g n i f i c a n t sums. U p o n s u c c e s s f u l s u b s c r i p t i o n a n d re c e i p t o f p ay m e n t t h e To k e n s w i l l b e i s s u e d i m m e d i a t e l y. T h e C o m p a ny u rg e s a ny p e r s o n w h o i s c o n s i d e r i n g m a k i n g a n i nve s t m e n t i n t h e To k e n s t o re a d t h i s e n t i re O f fe r i n g M e m o ra n d u m c a re f u l l y, i n c l u d i n g a l l “ R i s k Fa c t o r s ” d e t a i l e d h e re i n . Te r m s o f S e r v i c e , a n d a l l re l a t e d p o l i c i e s , c o n t a i n e d o r l i n k e d f ro m t h e G L X . c o m w e b s i t e a t : G L X . c o m / t e r m s - o f - s e r v i c e a re i n c o r p o ra t e d by re fe re n c e i n t o t h i s d o c u m e n t a n d , h e n c e , i s a p a r t o f t h i s O f fe r i n g M e m o ra n d u m .

[THE REMAINDER OF THIS SPACE WAS INTENTIONALLY LEFT BLANK]

ADDITIONAL CORPORATE DISCLOSURES

C O R P O R ATE G OVERNAN CE G L X i s c o m m i t t e d t o t h e h i g h e s t s t a n d a rd s o f C o r p o ra t e G ove r n a n c e a n d S o c i a l R e s p o n s i b i l i t y. E f fe c t i ve C o r p o ra t e G ove r n a n c e i s c r i t i c a l t o a c h i e v i n g c o r p o ra t e g o a l s a n d i n c re a s i n g t o ke n h o l d e r va l u e . G L X b e l i e ve s i t i s i m p o r t a n t t o g a i n a n d re t a i n t h e t r u s t o f i nve s t o r s , e m p l oye e s , c u s t o m e r s , s u p p l i e r s a n d p a r t n e r s . T h e G L X t e a m i s c u r re n t l y s e a rc h i n g fo r i n d e p e n d e n t d i re c t o r s a n d c re a t i n g a n a u d i t c o m m i t t e e t o re v i e w re l a t e d p a r t y t ra n s a c t i o n s and other matters. C u r re n t l y t h e B o a rd a n d m a n a g e m e n t a re re s p o n s i b l e fo r re p re s e n t i n g t h e i n t e re s t s o f To ke n h o l d e rs a n d k e y s t a k e h o l d e r s . T h e s e re s p o n s i b i l i t i e s a re p e r fo r m e d w i t h a n u nwa ve r i n g c o m m i t m e n t t o a c h i e ve t h e h i g h e s t s t a n d a rd s o f i n t e g r i t y, re s p o n s i b i l i t y a n d c o m p l i a n c e w i t h a l l l a w s . T h e B o a rd a n d m a n a g e m e n t s t r i ve s t o e n s u re t h a t G L X ’s s u c c e s s i s a l i g n e d w i t h a c o m m i t m e n t t o a s e t o f c o re p r i n c i p l e s , w i t h a n e m p h a s i s o n c o r p o ra t e re s p o n s i b i l i t y, w h i l e c o n d u c t i n g a l l b u s i n e s s a c t i v i t i e s w i t h t h e h i g h e s t e t h i c a l s t a n d a rd s . We d o n o t c u r re n t l y c o m p l y w i t h t h e c o r p o ra t e g ove r n a n c e s t a n d a rd s t h a t w o u l d b e re q u i re d i f o u r To ke n s w e re l i s t e d o n a n a t i o n a l s e c u r i t i e s exc h a n g e . I n p a r t i c u l a r, w e d o n o t h a ve a ny i n d e p e n d e n t d i re c t o r s a n d w e h a ve n o t c re a t e d a n a u d i t c o m m i t t e e t o re v i e w re l a t e d p a r t y t ra n s a c t i o n s o r o t h e r m a t t e r s . We h a ve a d o p t e d a C o d e o f B u s i n e s s C o n d u c t a n d E t h i c s t h a t a p p l i e s t o o u r d i re c t o r s , o f f i c e r s a n d e m p l oye e s , l e d by o u r fo u n d e r a n d C E O . s e a rc h i n g fo r i n d e p e n d e n t d i re c t o r s a n d c re a t i n g a n a u d i t c o m m i t t e e t o re v i e w re l a t e d p a r t y t ra n s a c t i o n s and other matters.

GOV E R N MENT RE GUL AT ION Va r i o u s a s p e c t s o f o u r b u s i n e s s e s m ay b e c o m e s u b j e c t t o fe d e ra l , s t a t e , a n d fo re i g n re g u l a t i o n . A ny fa i l u re t o c o m p l y w i t h a ny a p p l i c a b l e l a w s a n d re g u l a t i o n s c o u l d re s u l t i n re s t r i c t i o n s o n o u r a b i l i t y t o p rov i d e o u r s e r v i c e s , a s w e l l a s t h e i m p o s i t i o n o f c i v i l f i n e s a n d criminal penalties.

LE G A L PRO CE ED I NGS Fro m t i m e t o t i m e , t h e C o m p a ny m a y b e i nvo l ve d i n l e g a l p ro c e e d i n g s . T h e re s u l t s o f s u c h l e g a l p ro c e e d i n g s a n d c l a i m s c a n n o t b e p re d i c t e d w i t h c e r t a i n t y, a n d re g a rd l e s s o f t h e o u t c o m e , l e g a l p ro c e e d i n g s c o u l d h a ve a n a d ve r s e i m p a c t o n t h e C o m p a ny ’s b u s i n e s s o r t h e d e ve l o p m e n t o f t h e C o m p a ny b e c a u s e o f d e fe n s e a n d s e t t l e m e n t c o s t s , d i ve r s i o n o f re s o u rc e s , a n d o t h e r fa c t o r s . A s o f t h e d a t e o f t h i s O f fe r i n g M e m o ra n d u m , t h e C o m p a ny i s n o t s u b j e c t t o a ny m a t e r i a l l e g a l

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ADDITIONAL CORPORATE DISCLOSURES p ro c e e d i n g s , n o r, t o o u r k n o w l e d g e , a re a ny m a t e r i a l l e g a l p ro c e e d i n g s p e n d i n g o r t h re a t e n e d a g a i n s t t h e C o m p a ny. T h e i s s u e s t a t e d b e l o w wa s s e t t l e d i n 2 0 1 7 t o t h e s a t i s fa c t i o n o f a l l p a r t i e s i nvo l ve d . O n o r a b o u t A p r i l 2 0 1 6 G L X a n d t h e Fl o r i d a O f f i c e o f Fi n a n c i a l R e g u l a t i o n ( “ F LO F R ” ) p a r t i c i p a t e d i n a n ex a m i n a t i o n o f s e c u r i t i e s i s s u e s s u r ro u n d i n g p l a c e m e n t a n d s a l e o f s e c u r i t i e s u n d e r Fl o r i d a S t a t u t e s . F LO F R a l l e g e d t h a t s o m e s a l e s o f s e c u r i t i e s , d u r i n g a l i m i t e d p e r i o d , w e re n o t a d e q u a t e l y c ove re d u n d e r a f i l e d R e g u l a t i o n D o f t h e S e c u r i t i e s A c t . G L X a n d a s s o c i a t e d p a r t i e s d i s p u t e d t h e n o n - exe m p t i o n . U l t i m a t e l y, i n J u n e 2 0 1 7, F LO F R a n d G L X e n t e re d i n t o a c o n s e n t a g re e m e n t w i t h o u t a d m i s s i o n o f a ny l i a b i l i t y. S u c h m a t t e r h a s n o e f fe c t o n t h e l e g a l s t a n d i n g o r a b i l i t y o f G L X i n a ny o f fe r i n g o r exe m p t i o n .

E MPLOYEE S AND C ON T RAC T ORS C u r re n t l y t h e C o m p a ny d o e s n o t h a ve a ny e m p l oye e s . M r. R u s s o , o u r fo u n d e r & C E O , h a s e n t e re d i n t o m a n a g e m e n t c o n s u l t i n g a g re e m e n t s a s a n i n d e p e n d e n t c o n t ra c t o r. A ny a d d i t i o n a l s e l l i n g , m a r ke t i n g , t e c h n i c a l , I T a n d / o r s o f t wa re d e ve l o p m e n t w o r k i s o u t s o u rc e d t o q u a l i f i e d c o n t ra c t o rs a n d c o n s u l t a n t s a s d e e m e d n e c e s s a r y.

EXECUTIVE OFFICERS AND BOARD MEMBERS B IO S Ro n a l d P. R u s s o , J r. - Fo u n d e r & C E O R o n a l d i s t h e fo u n d e r, c h a i r m a n , s o l e d i re c t o r, a n d C E O o f G L X . H e h a s b e e n a n e n t re p re n e u r a n d a n a c t i ve m e m b e r o f t h e p r i va t e e q u i t y a n d i nve s t m e n t b a n k i n g c o m m u n i t i e s fo r ove r 2 6 - ye a rs w i t h k e y ro l e s i n b ro k e ra g e o p e ra t i o n s a n d m a n a g e m e n t , a s w e l l a s s t ra t e g i c c o n s u l t i n g a n d i nve s t m e n t b a n k i n g fo r e m e rg i n g g ro w t h c o m p a n i e s . P r i o r t o fo u n d i n g G L X h e h e l d va r i o u s F I N R A l i c e n s e s i n c l u d i n g t h e S e r i e s 7, 6 3, 24 a n d 2 7. R o n a l d b e g a n a c a re e r o n Wa l l S t re e t i n 1 9 9 3 a s a re g i s t e re d re p o n t h e s e l l s i d e o f t h e re t a i l i n d u s t r y. I n 1 9 9 5 h e h a d t h e o p p o r t u n i t y t o t ra ve l t o Lo s A n g e l e s a n d f i l l a m a n a g e m e n t p o s i t i o n i n o p e ra t i o n s fo r a s m a l l re g i o n a l b ro k e r / d e a l e r. I n 1 9 9 7 R o n a l d b e g a n ra i s i n g i n s t i t u t i o n a l p r i va t e e q u i t y fo r s m a l l - c a p p u b l i c l y t ra d e d c o m p a n i e s ( P I P E ’s ) . I n 1 9 9 8 h e fo u n d e d S i l i c o n A l l e y C a p i t a l M a n a g e m e n t , w h e re h e a d v i s e d a n d h e l p e d f u n d m a ny i n t e r n e t / n e w m e d i a s t a r t - u p s i n N e w Yo r k C i t y. I n 2 0 0 2 h e re - e n t e re d t h e P I P E m a r k e t p a r t i c i p a t i n g i n m o re t h a n t wo d o z e n t ra n s a c t i o n s u n t i l 2 0 0 8 w h e n h e ex i t e d t o s t a r t Wo r l d M a r k e t M e d i a and ultimately GLX. R o n a l d c o m p l e t e d h i g h s c h o o l i n 1 9 8 8 a t S e t o n H a l l P re p a ra t o r y S c h o o l i n We s t O ra n g e , N J .

ADDITIONAL CORPORATE DISCLOSURES H e re c e i ve d a B a c h e l o r o f S c i e n c e , B u s i n e s s A d m i n i s t ra t i o n d e g re e f ro m S t . J o h n â&#x20AC;&#x2122;s U n i ve r s i t y i n Q u e e n s , N Y i n 1 9 9 3. H e re s i d e s i n Pa l m B e a c h , F L .

E XE C U TI VE C O MP EN SAT ION T h ro u g h a m a n a g e m e n t c o n s u l t i n g a g re e m e n t w i t h C o c o a n u t R o w C a p i t a l , I n c . M r. R u s s o , o u r fo u n d e r, c h a i r m a n , s o l e d i re c t o r, a n d C E O i s c o m p e n s a t e d w i t h a b a s e m a n a g e m e n t fe e o f $ 1 5 0,0 0 0 o n a c a l e n d a r ye a r b a s i s . M r. R u s s o i s t h e m a j o r i t y o w n e r a n d c o n t ro l l e r o f C o c o a n u t R o w C a p i t a l , a Fl o r i d a c o r p o ra t i o n . E xe c u t i ve O f f i c e r s , E m p l oye e s , A d v i s o r y B o a rd M e m b e r s a n d o u t s i d e C o n s u l t a n t s m a y re c e i ve To ke n s a n d / o r o p t i o n s fo r To k e n s a s a r b i t ra r y b o n u s e s a n d i n l i e u o f a n d / o r i n a d d i t i o n t o t h e s t a t e d c o m p e n s a t i o n h e re i n .

C O M P ENSATI O N ARRAN GEMEN TS W i t h t h e exc e p t i o n o f M r. R u s s o w e h a ve n o t e n t e re d i n t o a ny e m p l oy m e n t o r re t e n t i o n c o n t ra c t s w i t h a ny o t h e r E xe c u t i ve O f f i c e r s , E m p l oye e s , D i re c t o r s . We a n t i c i p a t e t h a t w e w i l l d o s o i n 2 0 1 9, t h e t e r m s o f w h i c h h a ve n o t ye t b e e n d e t e r m i n e d .

PRI N C I PAL EQUI TY HOLDERS T h e fo l l o w i n g t a b l e s e t s fo r t h i n fo r m a t i o n re g a rd i n g t h e b e n e f i c i a l o w n e r s h i p o f o u r C o m m o n To ke n s a s o f D e c e m b e r 3 1, 2 0 1 8. T h e i n fo r m a t i o n i n t h i s t a b l e p rov i d e s t h e o w n e r s h i p i n fo r m a t i o n fo r : ( i ) e a c h p e r s o n k n o w n by u s t o b e t h e b e n e f i c i a l o w n e r o f m o re t h a n 5 % o f o u r C o m m o n To ke n s ; ( i i ) e a c h o f o u r d i re c t o r s ; ( i i i ) e a c h o f o u r exe c u t i ve o f f i c e rs ; a n d ( i x ) o u r exe c u t i ve o f f i c e r s , d i re c t o rs a n d d i re c t o r n o m i n e e s a s a g ro u p . B e n e f i c i a l o w n e r s h i p h a s b e e n d e t e r m i n e d i n a c c o rd a n c e w i t h t h e r u l e s a n d re g u l a t i o n s o f t h e U . S . S e c u r i t i e s a n d E xc h a n g e C o m m i s s i o n ( S E C ) a n d i n c l u d e s vo t i n g o r i nve s t m e n t p o w e r w i t h re s p e c t t o t h e To k e n s . U n l e s s o t h e r w i s e i n d i c a t e d , t h e p e r s o n s n a m e d i n t h e t a b l e b e l o w h a ve s o l e vo t i n g a n d i nve s t m e n t p o w e r w i t h re s p e c t t o t h e n u m b e r o f To k e n s i n d i c a t e d a s b e n e f i c i a l l y o w n e d by t h e m . U n l e s s o t h e r w i s e i n d i c a t e d , t h e a d d re s s o f e a c h b e n e f i c i a l

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ADDITIONAL CORPORATE DISCLOSURES o w n e r i s 3 4 0 R oya l Po i n c i a n a Wa y, S u i t e 3 1 7 - 3 3 5, Pa l m B e a c h , F L 3 3 4 8 0. NAME

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Ronald P. Russo, Jr.

16,118,846 (2)

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GLX IP, LLC

2,592,730 (3)

6.33

1. B e fo re g i v i n g e f fe c t t o t h e i s s u a n c e o f t h e s e c u r i t i e s i n c l u d e d i n t h e To ke n s o f fe re d h e re by. 2. O f M r. R u s s o â&#x20AC;&#x2122;s 1 6,11 8,8 4 6 To ke n s ; 1 4 m i l l i o n a re C l a s s B C o m m o n E q u i t y To ke n s , t h e b a l a n c e a re C l a s s A C o m m o n E q u i t y To ke n s . 3. M r. R u s s o i s t h e o n l y h o l d e r o f C l a s s B C o m m o n E q u i t y To ke n s . 4 . M r. R u s s o a l s o h a s 1,5 0 0,0 0 0 o p t i o n s w i t h a s t r i ke p r i c e o f $ 0.2 5. S a i d o p t i o n s we re g ra n t e d i n A p r i l o f 2 0 1 5 a n d ve s t o n a m o n t h l y b a s i s e q u a l l y ove r 4 - ye a rs . 5. M r. R u s s o i s t h e fo u n d e r a n d c o n t ro l l i n g s t a ke h o l d e r o f G L X I P, L LC .

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TAX CONSIDERATIONS

TA X C O NSI D E RATION S E a c h I nve s t o r s h o u l d c o n s u l t w i t h t h e i r o w n a f i n a n c i a l a d v i s o r, c e r t i f i e d p u b l i c a c c o u n t a n t , a n d t a x a t t o r n e y i n o rd e r t o f u l l y u n d e r s t a n d t h e U n i t e d S t a t e s fe d e ra l , s t a t e , l o c a l a n d fo re i g n i n c o m e t a x c o n s e q u e n c e s o f a n i nve s t m e n t i n To k e n s . N o fo r m a l o r l e g a l t a x a d v i c e i s h e re by g i ve n t o a ny I nve s t o r. C e r t a i n U n i t e d S t a t e s Fe d e ra l I n c o m e Ta x C o n s i d e ra t i o n s S e t fo r t h b e l o w i s a d i s c u s s i o n , i n s u m m a r y fo r m , o f c e r t a i n U n i t e d S t a t e s fe d e ra l i n c o m e t a x c o n s e q u e n c e s re l a t i n g t o i n i nve s t m e n t i n a n d t h e a c q u i s i t i o n , o w n e r s h i p a n d d i s p o s i t i o n o f To ke n s i s s u e d p u r s u a n t t o a t o k e n o f fe r i n g . T h i s s u m m a r y d o e s n o t a t t e m p t t o p re s e n t a l l a s p e c t s o f t h e U n i t e d S t a t e s fe d e ra l i n c o m e t a x l a w s o r a ny s t a t e , l o c a l o r fo re i g n l a w s t h a t m a y a f fe c t a n i nve s t m e n t i n o u r To k e n s . I n p a r t i c u l a r, fo re i g n I nve s t o r s , f i n a n c i a l i n s t i t u t i o n s , i n s u ra n c e c o m p a n i e s , t a x - exe m p t e n t i t i e s , I nve s t o r s s u b j e c t t o t h e a l t e r n a t i ve m i n i m u m t a x a n d o t h e r I nve s t o r s o f s p e c i a l s t a t u s m u s t c o n s u l t w i t h t h e i r o w n p ro fe s s i o n a l t a x a d v i s o r s re g a rd i n g a p ro s p e c t i ve i nve s t m e n t i n t h e To ke n s . T h i s s u m m a r y i s by n a t u re g e n e ra l a n d s h o u l d n o t b e c o n s t r u e d a s t a x a d v i c e t o a ny I nve s t o r. N o r u l i n g h a s b e e n o r w i l l b e re q u e s t e d f ro m t h e I n t e r n a l R e ve n u e S e r v i c e ( t h e “ I R S ” ) a n d n o a s s u ra n c e c a n b e g i ve n t h a t t h e I R S w i l l a g re e w i t h t h e t a x c o n s e q u e n c e s d e s c r i b e d i n t h i s s u m m a r y. T h e fo l l o w i n g d i s c u s s i o n a s s u m e s t h a t e a c h I nve s t o r w i l l a c q u i re To ke n s a s a c a p i t a l a s s e t ( g e n e ra l l y, p ro p e r t y h e l d fo r i nve s t m e n t ) . T h i s d e s c r i p t i o n i s b a s e d o n t h e U . S . I n t e r n a l R e ve n u e C o d e o f 1 9 8 6, a s a m e n d e d , ( t h e “ C o d e ” ) , ex i s t i n g , p ro p o s e d a n d t e m p o ra r y U . S . Tre a s u r y R e g u l a t i o n s a n d j u d i c i a l a n d a d m i n i s t ra t i ve i n t e r p re t a t i o n s t h e re o f, i n e a c h c a s e a s a va i l a b l e o n t h e d a t e h e re o f. A l l o f t h e fo re g o i n g i s s u b j e c t t o c h a n g e , w h i c h c h a n g e c o u l d a p p l y re t ro a c t i ve l y a n d c o u l d a f fe c t t h e t a x c o n s e q u e n c e s d e s c r i b e d b e l o w. T h e d i s c u s s i o n i s l i m i t e d t o I nve s t o rs w h o a re “ U n i t e d S t a t e s Pe r s o n s ” w i t h i n t h e m e a n i n g o f the Code. Tra n s a c t i o n s i nvo l v i n g t o k e n o f fe r i n g s a re re l a t i ve l y n e w a n d i t i s m o re t h a n l i k e l y t h a t t h e I R S w i l l i s s u e g u i d a n c e , p o s s i b l y w i t h re t ro a c t i ve e f fe c t , i m p a c t i n g t h e t a x a t i o n o f I nve s t o r s o r p a r t i c i p a n t s i n a t o k e n o f fe r i n g , a n d h o l d e r s o f o u r To k e n s . Fu t u re t a x g u i d a n c e f ro m t h e I R S ( o r g u i d a n c e re s u l t i n g f ro m f u t u re j u d i c i a l d e c i s i o n s ) c o u l d n e g a t i ve l y i m p a c t h o l d e r s o f o u r To ke n s . Tr e a t m e n t o f t h e To ke n S a l e

Offering Memorandum

TAX CONSIDERATIONS T h e C o m p a ny s h a l l i s s u e t h e To k e n s t o e a c h I nve s t o r p u r s u a n t t o t h e t e r m s o f t h i s O f fe r i n g M e m o ra n d u m . T h e i s s u a n c e o f t h e To k e n s t o a n I nve s t o r w i l l b e t re a t e d a s a t a x a b l e s a l e o f p ro p e r t y by t h e C o m p a ny t o t h e I nve s t o r. A n I nve s t o r s h o u l d g e n e ra l l y h a ve a t a x b a s i s fo r U . S . fe d e ra l i n c o m e t a x p u r p o s e s i n t h e To k e n s i t a c q u i re s f ro m t h e C o m p a ny e q u a l t o t h e a m o u n t o f m o n e y s u c h I nve s t o r p a i d fo r t h o s e To k e n s . T h e I nve s t o r ’s h o l d i n g p e r i o d i n t h e To ke n s s h o u l d b e g i n o n t h e d a y t h e To k e n s a re i s s u e d t o t h e I nve s t o r. D i s p o s i t i o n o f t h e To ke n s A n I nve s t o r w h o s e l l s , exc h a n g e s , o r o t h e r w i s e d i s p o s e s o f t h e To k e n s fo r c a s h o r o t h e r p ro p e r t y ( i n c l u d i n g p u r s u a n t t o a n exc h a n g e o f s u c h To k e n s fo r o t h e r c o nve r t i b l e v i r t u a l c u r re n c y ) s h o u l d , p u r s u a n t t o I n t e r n a l R e ve n u e S e r v i c e N o t i c e 2 0 1 4 -2 1, re c o g n i z e c a p i t a l g a i n o r l o s s i n a n a m o u n t e q u a l t o t h e d i f fe re n c e b e t w e e n t h e fa i r m a r ke t va l u e o f t h e p ro p e r t y re c e i ve d i n exc h a n g e fo r s u c h To k e n s a n d t h e I nve s t o r ’s a d j u s t e d t a x b a s i s i n t h e To k e n s . T h i s c a p i t a l g a i n m a y b e l o n g - t e r m i f t h e I nve s t o r h a s h e l d i t s To k e n s fo r m o re t h a n o n e ye a r prior to disposition. EACH INVESTOR SHOULD SEEK, AND MUST DEPEND UPON, THE ADVICE OF HIS OR HER TAX ADVISOR WITH RESPECT TO THEIR INVESTMENT, AND EACH INVESTOR IS RESPONSIBLE FOR THE FEES OF SUCH ADVISOR. NOTHING IN THIS MEMORANDUM IS OR SHOULD BE CONSTRUED AS LEGAL OR TAX ADVICE TO AN INVESTOR. INVESTORS SHOULD BE AWARE THAT THE INTERNAL REVENUE SERVICE MAY NOT AGREE WITH ALL TAX POSITIONS TAKEN BY THE COMPANY AND THAT CHANGES TO THE INTERNAL REVENUE CODE OR THE REGULATIONS OR RULINGS THEREUNDER OR COURT DECISIONS AFTER THE DATE OF THIS MEMORANDUM MAY CHANGE THE ANTICIPATED TAX TREATMENT TO AN INVESTOR. THE COMPANY WILL NOT OBTAIN ANY RULING FROM THE INTERNAL REVENUE SERVICE WITH REGARD TO THE TAX CONSEQUENCES OF AN INVESTMENT IN THE NOTES. TO ENSURE COMPLIANCE WITH TREASURY DEPARTMENT CIRCULAR 230, INVETORS ARE HEREBY NOTIFIED THAT: (A) ANY DISCUSSION OF FEDERAL TAX ISSUES IN THIS MEMORANDUM IS NOT INTENDED OR WRITTEN TO BE RELIED UPON, AND CANNOT BE RELIED UPON, BY INVESTORS FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON SUCH INVESTORS UNDER THE CODE; (B) SUCH DISCUSSION IS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING OF INVESTMENTS IN THE COMPANY; AND (C) INVETORS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR. THE TAX TREATMENT OF A TOKEN OFFERING, THE PURCHASE RIGHTS CONTAINED THEREIN AND THE TOKEN DISTRIBUTION IS UNCERTAIN AND THERE MAY BE ADVERSE TAX CONSEQUENCES FOR INVESTORS UPON CERTAIN FUTURE EVENTS. AN INVESTMENT INCLUDING THE PURCHASE OF TOKENS PURSUANT THERETO MAY RESULT IN ADVERSE TAX CONSEQUENCES TO INVESTORS, INCLUDING WITHHOLDING TAXES, INCOME TAXES AND TAX REPORTING REQUIREMENTS. EACH INVESTOR SHOULD CONSULT WITH AND MUST RELY UPON THE ADVICE OF ITS OWN PROFESSIONAL TAX ADVISORS WITH RESPECT TO THE UNITED STATES AND NON-TAX TREATMENT OF AN INVESTMENT IN THE TOKENS.

KYC AML CTF

KYC / AML / CTF POLICIES

K YC / A ML / C TF P OLICIE S G L X h a s e s t a b l i s h e d p o l i c i e s a n d p ro c e d u re s re l a t i n g t o : ( i ) K n o w Yo u r C u s t o m e r ( “ K YC ” ) ; ( i i ) A n t i - M o n e y L a u n d e r i n g ( “A M L” ) ; a n d ( i i i ) C o u n t e r -Te r ro r i s t Fi n a n c i n g ( “ C T F ” ) . I m p l e m e n t i n g t h e s e i n t e r n a l c o n t ro l s t h ro u g h o u t o u ro p e ra t i o n s a re d e s i g n e d t o a l l o w u s t o b e c o m e t h o ro u g h l y fa m i l i a r w i t h o u r m e m b e r s h i p b a s e a n d m i t i g a t e r i s k s o f m o n e y l a u n d e r i n g a n d t e r ro r i s m f i n a n c i n g . THE USA PATRIOT ACT T h e U S A PAT R I O T A c t i s d e s i g n e d t o d e t e c t , d e t e r a n d p u n i s h t e r ro r i s t s i n t h e U n i t e d S t a t e s a n d a b ro a d . T h e A c t i m p o s e s n e w a n t i - m o n e y l a u n d e r i n g re q u i re m e n t s o n b ro k e ra g e f i r m s a n d f i n a n c i a l i n s t i t u t i o n s . S i n c e A p r i l 24 , 2 0 0 2, a l l U n i t e d S t a t e s b ro k e ra g e f i r m s h a ve b e e n re q u i re d t o h a ve c o m p re h e n s i ve a n t i - m o n e y l a u n d e r i n g p ro g ra m s i n e f fe c t . W h a t i s m o n ey l a u n d e r i n g ? M o n e y l a u n d e r i n g i s t h e p ro c e s s o f d i s g u i s i n g i l l e g a l l y o b t a i n e d m o n e y s o t h a t t h e f u n d s a p p e a r t o c o m e f ro m l e g i t i m a t e s o u rc e s o r a c t i v i t i e s . M o n e y l a u n d e r i n g o c c u r s i n c o n n e c t i o n w i t h a w i d e va r i e t y o f c r i m e s , i n c l u d i n g i l l e g a l a r m s s a l e s , d r u g t ra f f i c k i n g , ro b b e r y, f ra u d , ra c ke t e e r i n g a n d t e r ro r i s m . H ow b i g i s t h e p r o b l e m a n d w hy i s i t i m p o r t a n t ? T h e u s e o f t h e U n i t e d S t a t e s f i n a n c i a l sys t e m by c r i m i n a l s t o fa c i l i t a t e t e r ro r i s m o r o t h e r c r i m e s c o u l d t a i n t o u r f i n a n c i a l m a r k e t s . A c c o rd i n g t o t h e U n i t e d S t a t e s S t a t e D e p a r t m e n t , o n e re c e n t e s t i m a t e p u t s t h e a m o u n t o f w o r l d w i d e m o n e y l a u n d e r i n g a c t i v i t y a t $ 1 t r i l l i o n a ye a r. MONEY LAUNDERING U n d e r n e w r u l e s re q u i re d by t h e U S A PAT R I O T A c t , t h e C o m p a ny ’s a n t i - m o n e y l a u n d e r i n g p ro g ra m w i l l c o n d u c t i n d e p e n d e n t a u d i t s a n d e s t a b l i s h p o l i c i e s a n d p ro c e d u re s d e s i g n e d t o d e t e c t a n d re p o r t s u s p i c i o u s t ra n s a c t i o n s a n d e n s u re c o m p l i a n c e w i t h t h e n e w l a w s a n d rules.

KYC / AML / CTF POLICIES A s p a r t o f t h e C o m p a ny ’s e f fo r t s , i t m ay a s k I nve s t o r s t o p rov i d e va r i o u s i d e n t i f i c a t i o n d o c u m e n t s o r o t h e r i n fo r m a t i o n . U n t i l I nve s t o r s p rov i d e t h e i n fo r m a t i o n o r d o c u m e n t s t h a t t h e C o m p a ny n e e d s , G L X m ay n o t b e a b l e t o a f fe c t a ny t ra n s a c t i o n s w i t h s a i d I nve s t o r s . I nve s t o rs s h o u l d c h e c k t h e O f f i c e o f Fo re i g n A s s e t s C o n t ro l ( t h e “ O FA C ” ) w e b s i t e a t : • h t t p : / / w w w. t re a s . g ov /o fa c b e fo re m a k i n g t h e fo l l o w i n g re p re s e n t a t i o n s : Yo u re p re s e n t t h a t t h e a m o u n t s i nve s t e d by yo u i n t h i s O f fe r i n g w e re n o t a n d a re n o t d i re c t l y o r i n d i re c t l y d e r i ve d f ro m a ny a c t i v i t i e s t h a t c o n t ra ve n e Fe d e ra l , s t a t e o r i n t e r n a t i o n a l l a w s a n d re g u l a t i o n s , i n c l u d i n g a n t i - m o n e y l a u n d e r i n g l a w s a n d re g u l a t i o n s . Fe d e ra l re g u l a t i o n s a n d E xe c u t i ve O rd e r s a d m i n i s t e re d by t h e O FA C p ro h i b i t , a m o n g o t h e r t h i n g s , t h e e n g a g e m e n t i n t ra n s a c t i o n s w i t h , a n d t h e p rov i s i o n o f s e r v i c e s t o , c e r t a i n fo re i g n c o u n t r i e s , t e r r i t o r i e s , e n t i t i e s a n d i n d i v i d u a l s . T h e l i s t s o f t h e O FA C - p ro h i b i t e d c o u n t r i e s , t e r r i t o r i e s , i n d i v i d u a l s a n d e n t i t i e s c a n b e fo u n d o n t h e O FA C w e b s i t e . I n a d d i t i o n , t h e p ro g ra m s a d m i n i s t e re d by t h e O FA C ( t h e “ O FA C P ro g ra m s ” ) p ro h i b i t d e a l i n g w i t h i n d i v i d u a l s o r e n t i t i e s i n c e r t a i n c o u n t r i e s , re g a rd l e s s o f w h e t h e r s u c h i n d i v i d u a l s 1 o r e n t i t i e s a p p e a r o n a ny O FA C l i s t ; 1. yo u re p re s e n t a n d wa r ra n t t h a t n o n e o f : ( i ) yo u ; ( i i ) a ny p e r s o n c o n t ro l l i n g o r c o n t ro l l e d by yo u ; ( i i i ) i f yo u a re a p r i va t e l y - h e l d e n t i t y, a ny p e r s o n h a v i n g a b e n e f i c i a l i n t e re s t i n yo u ; o r ( i v ) a ny p e r s o n fo r w h o m yo u a re a c t i n g a s a g e n t o r n o m i n e e i n c o n n e c t i o n w i t h t h i s i nve s t m e n t i s a c o u n t r y, t e r r i t o r y, e n t i t y o r i n d i v i d u a l n a m e d o n a n O FA C l i s t , o r a p e r s o n o r e n t i t y p ro h i b i t e d u n d e r t h e O FA C P ro g ra m s . P l e a s e b e a d v i s e d t h a t t h e P l a c e m e n t A g e n t m a y n o t a c c e p t a ny s u b s c r i p t i o n a m o u n t s f ro m a p ro s p e c t i ve i nve s t o r i f s u c h i nve s t o r s c a n n o t m a ke t h e re p re s e n t a t i o n s e t fo r t h i n t h e p re c e d i n g s e n t e n c e . Yo u a g re e t o p ro m p t l y n o t i f y t h e C o m p a ny a n d t h e P l a c e m e n t A g e n t s h o u l d yo u b e c o m e a wa re o f a ny c h a n g e i n t h e i n fo r m a t i o n s e t fo r t h i n a ny o f t h e s e re p re s e n t a t i o n s . Yo u a re a d v i s e d t h a t , by l a w, t h e P l a c e m e n t A g e n t m a y b e o b l i g a t e d t o “ f re e z e t h e a c c o u n t ” o f a ny i nve s t o r, e i t h e r by p ro h i b i t i n g a d d i t i o n a l s u b s c r i p t i o n s f ro m i t , d e c l i n i n g a ny re d e m p t i o n re q u e s t s a n d / o r s e g re g a t i n g t h e a s s e t s i n t h e a c c o u n t i n c o m p l i a n c e w i t h g ove r n m e n t a l re g u l a t i o n s , a n d t h a t t h e P l a c e m e n t A g e n t m a y a l s o b e re q u i re d t o re p o r t s u c h a c t i o n a n d t o d i s c l o s e s u c h i nve s t o r ’s i d e n t i t y t o t h e O FA C ; 2. yo u re p re s e n t a n d wa r ra n t t h a t n o n e o f : ( i ) yo u ; ( i i ) a ny p e r s o n c o n t ro l l i n g o r c o n t ro l l e d by yo u ; ( i i i ) i f yo u a re a p r i va t e l y - h e l d e n t i t y, a ny p e r s o n h a v i n g a b e n e f i c i a l i n t e re s t i n yo u ; o r ( i v ) a ny p e r s o n fo r w h o m yo u a re a c t i n g a s a g e n t o r n o m i n e e i n c o n n e c t i o n w i t h t h i s i nve s t m e n t i s a s e n i o r fo re i g n p o l i t i c a l f i g u re 2 , o r a ny i m m e d i a t e fa m i l y m e m b e r 3 o r c l o s e a s s o c i a t e 4 o f a s e n i o r fo re i g n p o l i t i c a l f i g u re , a s s u c h t e r m s a re d e f i n e d i n t h e fo o t n o t e s below; and 3. i f yo u a re a f f i l i a t e d w i t h a n o n - U . S . b a n k i n g i n s t i t u t i o n ( a “ Fo re i g n B a n k ” ) , o r i f yo u re c e i ve d e p o s i t s f ro m , m a k e p a y m e n t s o n b e h a l f o f, o r h a n d l e o t h e r f i n a n c i a l t ra n s a c t i o n s re l a t e d

Offering Memorandum

KYC / AML / CTF POLICIES t o a Fo re i g n B a n k , yo u re p re s e n t a n d wa r ra n t t o t h e C o m p a ny t h a t : ( i ) t h e Fo re i g n B a n k h a s a f i xe d a d d re s s , a n d n o t s o l e l y a n e l e c t ro n i c a d d re s s , i n a c o u n t r y i n w h i c h t h e Fo re i g n B a n k i s a u t h o r i z e d t o c o n d u c t b a n k i n g a c t i v i t i e s ; ( i i ) t h e Fo re i g n B a n k m a i n t a i n s o p e ra t i n g re c o rd s re l a t e d t o i t s b a n k i n g a c t i v i t i e s ; ( i i i ) t h e Fo re i g n B a n k i s s u b j e c t t o i n s p e c t i o n by t h e b a n k i n g a u t h o r i t y t h a t l i c e n s e d t h e Fo re i g n B a n k t o c o n d u c t i t s b a n k i n g a c t i v i t i e s ; a n d ( i v ) t h e Fo re i g n B a n k d o e s n o t p rov i d e b a n k i n g s e r v i c e s t o a ny o t h e r Fo re i g n B a n k t h a t d o e s n o t h a ve a p h ys i c a l p re s e n c e i n a ny c o u n t r y a n d t h a t i s n o t a re g u l a t e d a f f i l i a t e . ----------------------1 T h e s e i n d i v i d u a l s i n c l u d e s p e c i a l l y d e s i g n a t e d n a t i o n a l s , s p e c i a l l y d e s i g n a t e d n a rc o t i c s t ra f f i c ke rs a n d o t h e r p a r t i e s s u b j e c t t o O FA C s a n c t i o n s a n d e m b a rg o p ro g ra m s . 2 A “ s e n i o r fo re i g n p o l i t i c a l f i g u re ” i s d e f i n e d a s a s e n i o r o f f i c i a l i n t h e exe c u t i ve , l e g i s l a t i ve , a d m i n i s t ra t i ve , m i l i t a r y o r j u d i c i a l b ra n c h o f a fo re i g n g ove r n m e n t ( w h e t h e r e l e c t e d o r n o t ) , a s e n i o r o f f i c i a l o f a m a j o r fo re i g n p o l i t i c a l p a r t y, o r a s e n i o r exe c u t i ve o f a fo re i g n g ove r n m e n t - ow n e d c o r p o ra t i o n . I n a d d i t i o n , a “ s e n i o r fo re i g n p o l i t i c a l f i g u re ” i n c l u d e s a ny c o r p o ra t i o n , b u s i n e s s o r o t h e r e n t i t y t h a t h a s b e e n fo r m e d by, o r fo r t h e b e n e f i t o f, a s e n i o r fo re i g n p o l i t i c a l f i g u re . 3 “ I m m e d i a t e fa m i l y ” o f a s e n i o r fo re i g n p o l i t i c a l f i g u re t y p i c a l l y i n c l u d e s s u c h f i g u re ’s p a re n t s , s i b l i n g s , s p o u s e , c h i l d re n a n d i n - l aw s . 4

A “ c l o s e a s s o c i a t e ” o f a s e n i o r fo re i g n p o l i t i c a l f i g u re i s a p e rs o n w h o i s w i d e l y a n d p u b l i c l y k n ow n t o m a i n t a i n a n u n u s u a l l y c l o s e re l a t i o n s h i p w i t h s u c h s e n i o r fo re i g n p o l i t i c a l f i g u re a n d i n c l u d e s a p e rs o n w h o i s i n a p o s i t i o n t o c o n d u c t s u b s t a n t i a l d o m e s t i c a n d i n t e r n a t i o n a l f i n a n c i a l t ra n s a c t i o n s o n b e h a l f o f s u c h s e n i o r fo re i g n p o l i t i c a l f i g u re .

T h e C o m p a ny i s e n t i t l e d t o re l y u p o n t h e a c c u ra c y o f yo u r re p re s e n t a t i o n s t o e a c h i t e m a b ove . T h e C o m p a ny m a y, b u t u n d e r n o c i rc u m s t a n c e s s h a l l i t b e o b l i g a t e d t o , re q u i re a d d i t i o n a l e v i d e n c e t h a t a n I nve s t o r m e e t s t h e s t a n d a rd s s e t fo r t h a b ove a t a ny t i m e p r i o r t o i t s a c c e p t a n c e o f a t h e I nve s t o r ’s s u b s c r i p t i o n . I nve s t o r s a re n o t o b l i g a t e d t o s u p p l y a ny i n fo r m a t i o n s o re q u e s t e d by t h e C o m p a ny, b u t t h e C o m p a ny m ay re j e c t a s u b s c r i p t i o n f ro m a ny I nve s t o r w h o fa i l s t o s u p p l y s u c h i n fo r m a t i o n . GLX POLICIES AND PROCEDURES I nve s t o rs a n d m e m b e r s o f t h e G L X n e t w o r k a g re e t o t h e fo l l o w i n g K YC / A M L / C T F p o l i c i e s : • I nve s t o rs a n d m e m b e r s m e e t a l l o f t h e e l i g i b i l i t y c r i t e r i a u n d e r a p p l i c a b l e l a w a n d a l l o f t h e G L X Te r m s o f S e r v i c e a n d a l l re l a t e d p o l i c i e s h e re i n a n d a t : G L X . c o m / t e r m s - o f - s e r v i c e . • I nve s t o rs a n d m e m b e r s m u s t b e l e g a l l y b e p e r m i t t e d t o re c e i ve , h o l d a n d m a k e u s e o f t h e To ke n s i n t h e i r, a n d a ny o t h e r, re l e va n t j u r i s d i c t i o n . • I nve s t o rs a n d m e m b e r s m u s t s u p p l y G L X w i t h a ny a n d a l l i n fo r m a t i o n , d o c u m e n t a t i o n , o r c o py d o c u m e n t a t i o n , t h a t G L X m a y re q u i re i n o rd e r t o a l l o w G L X t o a c c e p t s a i d p a r t i c i p a t i o n . • I nve s t o rs a n d m e m b e rs a g re e s t h a t t h e y h a ve n o t s u p p l i e d G L X w i t h a ny i n fo r m a t i o n w h i c h i s i n a c c u ra t e o r m i s l e a d i n g . • I nve s t o rs a n d m e m b e r s w i l l p rov i d e G L X w i t h a ny a d d i t i o n a l i n fo r m a t i o n w h i c h m a y b e re a s o n a b l y re q u i re d i n o rd e r t h a t G L X c a n f u l f i l o u r l e g a l , re g u l a t o r y a n d c o n t ra c t u a l o b l i g a t i o n s , i n c l u d i n g b u t n o t l i m i t e d t o a ny a n t i - m o n e y l a u n d e r i n g o b l i g a t i o n . • I nve s t o rs a n d m e m b e r s w i l l n o t i f y G L X p ro m p t l y o f a ny c h a n g e t o t h e i n fo r m a t i o n p re v i o u s l y

KYC / AML / CTF POLICIES supplied. • I nve s t o rs a n d m e m b e r s i s o f a s u f f i c i e n t a g e ( i f a n i n d i v i d u a l ) t o l e g a l l y o b t a i n t h e To k e n s . • I nve s t o rs a n d m e m b e r s i s n o t a wa re o f a ny o t h e r l e g a l re a s o n t o p re ve n t s a i d I nve s t o r a n d m e m b e r f ro m o b t a i n i n g t h e To k e n s . G L X h a s e s t a b l i s h e d t h e fo l l o w i n g p ro t o c o l t o c o n f i r m t h e re p re s e n t a t i o n s a n d wa r ra n t i e s h e re i n i n o rd e r t o f i g h t m o n e y l a u n d e r i n g a n d t h e f i n a n c i n g o f i l l i c i t a c t i v i t i e s : • G L X i d e n t i f i e s a n d ve r i f i e s t h e i d e n t i f i c a t i o n o f a l l I nve s t o r s a n d m e m b e r s o f t h e G L X n e t wo r k ; • G L X h a s e s t a b l i s h e d t e c h n i c a l m e c h a n i s m s fo r m o n i t o r i n g t h e s o u rc e o f d i g i t a l a s s e t s , c o n t r i b u t e d t o G L X , a s p a r t o f t h i s O f fe r i n g ; a n d • G L X e n d e a vo r s t o m o n i t o r I nve s t o r s a n d m e m b e r s ’ a c t i v i t i e s a n d a l l t o k e n t ra n s a c t i o n s . To t h i s e n d , G L X b e g i n s by c o l l e c t i n g f ro m a l l m e m b e r s : • • • • •

Fi rs t a n d L a s t N a m e ; R e s i d e n c e P h ys i c a l A d d re s s ; E - m a i l A d d re s s ; M o b i l e N u m b e r ( ve r i f i e d ) ; a n d Birthdate

G L X ve r i f i e s a l l i n fo r m a t i o n a s s o o n a s p o s s i b l e i n o rd e r t o b e i n c o m p l i a n c e w i t h re g u l a t o r y g u i d e l i n e s . We a re c o m m i t t e d t o d o i n g o u r p a r t t o d e t e r i l l i c i t t ra n s a c t i o n s re l a t e d t o m o n e y l a u n d e r i n g a n d o t h e r c r i m i n a l a c t i v i t i e s . I t i s G L X ’s p o l i c y t o e n c o u ra g e a l l I nve s t o r s a n d m e m b e rs t o c o m p l e t e t h e K YC / A M L / C T F ve r i f i c a t i o n p ro c e d u re , w h a t e ve r t h e l e ve l o f p a r t i c i p a t i o n , i n t h i s O f fe r i n g . A l l I nve s t o r s a n d m e m b e r s m u s t c o m p l y w i t h t h e a p p l i c a b l e K YC / A M L / C T F re g u l a t i o n s a n d c o - o p e ra t e w i t h o u r K YC / A M L / C T F p ro c e s s . A l l I nve s t o r s a n d m e m b e rs g i ve p e r m i s s i o n t o G L X t o u n d e r t a ke a ny m e a s u re s re q u i re d t o s a t i s f y o u r d u t y t o u n d e r t a ke K YC / A M L / C T F c h e c k s . G L X re s e r ve s t h e r i g h t t o c o n d u c t K YC / A M L / C T F c h e c k s o n a l l I nve s t o r s a n d m e m b e r s , i f d e e m e d n e c e s s a r y, o r i f I nve s t o r s a n d m e m b e r s m e e t o u r p o l i c y t h re s h o l d s , o r i t b e c o m e s re q u i re d by t h e a p p l i c a b l e l a w s , o r i n t h e c a s e t h a t o n e o f o u r p a r t n e r s re q u i re s i t t o u n d e r t a k e a s e r v i c e fo r t h e b e n e f i t o f G L X a n d t h e I nve s t o r s a n d m e m b e r s w i t h i n t h e G L X p l a t fo r m . M e m b e rs a g re e t o f u l l y c o o p e ra t e w i t h a ny t h i rd p a r t y e n g a g e d by G L X t o c o n d u c t o u r K YC / A M L / C T F c h e c k s . M e m b e r s a g re e t o p rov i d e c o r re c t a n d a c c u ra t e i n fo r m a t i o n t o a ny t h i rd p a r t y e n g a g e d fo r t h e s e p u r p o s e s . G L X ’s K YC / A M L / C T F p o l i c i e s a i m t o c h e c k e a c h I nve s t o r a n d m e m b e r a g a i n s t g ove r n m e n t wa t c h l i s t s , i n c l u d i n g b u t n o t l i m i t e d t o , t h e s p e c i f i c a l l y d e s i g n a t e d n a t i o n a l s a n d b l o c ke d p e rs o n s , a n d i n c l u d i n g c o n t r i b u t i o n s f ro m h i g h r i s k j u r i s d i c t i o n s . A t t h e re q u e s t o f G L X , I nve s t o rs a n d m e m b e r s s h a l l i m m e d i a t e l y p rov i d e t o G L X i n fo r m a t i o n a n d d o c u m e n t s t h a t

Offering Memorandum

KYC / AML / CTF POLICIES G L X , i n i t s s o l e d i s c re t i o n , d e e m s n e c e s s a r y o r a p p ro p r i a t e t o c o n d u c t K YC / A M L / C T F c h e c k s . S u c h d o c u m e n t s m a y i n c l u d e , b u t a re n o t l i m i t e d t o , d r i ve r ’s l i c e n s e s , u t i l i t y b i l l s , p h o t o g ra p h s o f a s s o c i a t e d i n d i v i d u a l s , g ove r n m e n t i d e n t i f i c a t i o n c a rd s o r s w o r n s t a t e m e n t s . G L X m a y, i n i t s s o l e d i s c re t i o n , re f u s e t o d i s t r i b u t e t h e To k e n s t o I nve s t o r s a n d m e m b e r s u n t i l s u c h re q u e s t e d i n fo r m a t i o n i s p rov i d e d . I f a I nve s t o r a n d m e m b e r s ’ p ro p o s e d i nve s t m e n t i s f l a g g e d , t h ro u g h o u r i n t e r n a l c o n t ro l s , G L X m ay re q u i re a d d i t i o n a l p ro o f o f i d e n t i f i c a t i o n f ro m s a i d I nve s t o r a n d m e m b e r. G L X re s e r ve s t h e r i g h t t o n o t p e r m i t a ny i nve s t m e n t s u n t i l a d d i t i o n a l a n d ve r i f i a b l e p ro o f o f i d e n t i t y t o o u r s a t i s fa c t i o n h a s b e e n p rov i d e d . G L X re s e r ve s t h e r i g h t t o re f u s e o r re j e c t i nve s t m e n t s o f t h e To k e n s t o I nve s t o r s a n d m e m b e r s t h a t , a c c o rd i n g t o t h e i n fo r m a t i o n a va i l a b l e t o G L X , i s s u s p e c t e d o f re c e i v i n g f u n d s u s e d fo r t h e t o k e n i nve s t m e n t , w i t h t h e a i m o f m o n e y l a u n d e r i n g , t e r ro r i s m f i n a n c i n g , o r a ny o t h e r i l l e g a l a c t i v i t y. I n a d d i t i o n , G L X h a s t h e r i g h t a n d o b l i g a t i o n t o c o o p e ra t e w i t h a u t h o r i t i e s t o p re ve n t m o n e y l a u n d e r i n g a n d t e r ro r i s m f i n a n c i n g , i n c l u d i n g b l o c k i n g o f a I nve s t o r s a n d m e m b e r s ’ d i g i t a l wa l l e t a d d re s s , a n d d i s c l o s i n g a ny i n fo r m a t i o n a b o u t s u c h I nve s t o r a n d m e m b e r t o t h e a u t h o r i t i e s c o n d u c t i n g a n i nve s t i g a t i o n . E a c h I nve s t o r a n d m e m b e r h e re by u n d e r t a k e s t o p rov i d e va l i d p ro o f c o n c e r n i n g t h e l e g a l i t y o f h i s / h e r / i t s p ro c e e d s c o n t r i b u t e d t o wa rd s t h e To k e n s u p o n G L X ’s re q u e s t o r t h e re q u e s t o f b a n k i n g i n s t i t u t i o n s o r g ove r n m e n t a u t h o r i t i e s . D u r i n g K YC / A M L / C T F c h e c k s , I nve s t o r s a n d m e m b e r ’s i nve s t m e n t s m a y b e h e l d by G L X u n t i l t e r m i n a t i o n o f t h i s O f fe r i n g . I n n o e ve n t s h a l l G L X h o l d t h e f u n d s w i t h o u t d e t e r m i n a t i o n o r a c c e p t a n c e fo r m o re t h a n 9 0 - d a ys . I f t h e re s u l t s o f t h e K YC / A M L / C T F c h e c k c o u l d n o t b e a c c o m p l i s h e d w i t h i n 9 0 - d ays , o r t h e c h e c k fa i l s fo r a ny re a s o n , yo u r i nve s t m e n t w i l l b e re t u r n e d . E a c h I nve s t o r a n d m e m b e r a c k n o w l e d g e s a n d a g re e s t h a t G L X s h a l l n o t b e h e l d l i a b l e fo r a ny fa l s e o r m i s l e a d i n g i n fo r m a t i o n t h a t t h e I nve s t o r a n d m e m b e r c o m m u n i c a t e s t o G L X o r t o i t s t h i rd - p a r t i e s e n g a g e d . I nve s t o r s a n d m e m b e r s s h a l l f u l l y i n d e m n i f y G L X a n d i t s o f f i c e r s , d i re c t o rs , a n d a s s o c i a t e s i n t h e e ve n t o f a ny c l a i m , l o s s , o r d a m a g e ( i n c l u d i n g re p u t a t i o n a l d a m a g e ) i n re l a t i o n t o a b re a c h o f a p p l i c a b l e K YC / A M L / C T F p o l i c i e s .

[THE REMAINDER OF THIS SPACE WAS INTENTIONALLY LEFT BLANK]

RISK FACTORS

R I S K FAC T O R S

I nve s t i n g i n t h e To ke n s i nvo l ve s a h i g h d e g re e o f r i s k . Yo u s h o u l d c a re f u l l y c o n s i d e r t h e r i s k s a n d u n c e r t a i n t i e s d e s c r i b e d b e l ow b e fo re yo u p u rc h a s e o n e o r m o re To ke n s . I f a ny o f t h e s e r i s k s o r u n c e r t a i n t i e s a c t u a l l y o c c u r s , o u r b u s i n e s s , f i n a n c i a l c o n d i t i o n o r re s u l t s o f o p e ra t i o n s c o u l d b e m a t e r i a l l y a d ve r s e l y a f fe c t e d . I n t h i s eve n t , yo u c o u l d l o s e a l l o r p a r t o f yo u r i nve s t m e n t . R I S KS C O N C E R N I N G O U R B U S I N E S S We a r e p u r s u i n g a n e w a n d u n p r ove n b u s i n e s s m o d e l . O u r b u s i n e s s m o d e l i s u n i q u e a n d u n p rove n . We d o n o t k n o w i f t h e re w i l l b e d e m a n d fo r t h e G L X s o c i a l f i n a n c i a l n e t w o r k i n g p l a t fo r m . E ve n i f t h e re i s s u c h a d e m a n d , w e m a y n o t b e p ro f i t a b l e . O u r l a c k o f a n o p e ra t i n g h i s t o r y m a ke s i t d i f f i c u l t t o fo r e c a s t o u r f u t u r e r e s u l t s . We h a ve ve r y l i m i t e d o p e ra t i n g h i s t o r y. A s a re s u l t o f o u r l i m i t e d o p e ra t i n g h i s t o r y, o u r h i s t o r i c a l f i n a n c i a l a n d o p e ra t i n g i n fo r m a t i o n i s o f l i m i t e d va l u e i n p re d i c t i n g o u r f u t u re o p e ra t i n g re s u l t s . I n a d d i t i o n , a ny e va l u a t i o n o f o u r b u s i n e s s a n d p ro s p e c t s m u s t b e m a d e i n l i g h t o f t h e r i s k s a n d d i f f i c u l t i e s e n c o u n t e re d by c o m p a n i e s o f fe r i n g p ro d u c t s o r s e r v i c e s i n n e w a n d ra p i d l y e vo l v i n g m a r k e t s . T h e m a r k e t fo r s o c i a l m e d i a o u t l e t s i n g e n e ra l a n d fo r t h e i nve s t m e n t c o m m u n i t y i n p a r t i c u l a r, i s ra p i d l y e vo l v i n g a n d i t i s d i f f i c u l t t o fo re c a s t t h e f u t u re g ro w t h ra t e , i f a ny, o r s i z e o f t h e m a r ke t fo r o u r p l a t fo r m . We m ay n o t a c c u ra t e l y fo re c a s t m e m b e r b e h a v i o r a n d re c o g n i z e o r re s p o n d t o e m e rg i n g t re n d s , c h a n g i n g p re fe re n c e s o r c o m p e t i t i ve fa c t o r s fa c i n g u s a n d t h e re fo re , w e m a y fa i l t o m a ke a c c u ra t e f i n a n c i a l fo re c a s t s . O u r c u r re n t a n d f u t u re ex p e n s e l e ve l s a re b a s e d l a rg e l y o n o u r i nve s t m e n t p l a n s a n d e s t i m a t e s o f f u t u re re ve n u e . A s a re s u l t , w e m a y b e u n a b l e t o a d j u s t o u r s p e n d i n g i n a t i m e l y m a n n e r t o c o m p e n s a t e fo r a ny u n ex p e c t e d re ve n u e s h o r t fa l l , w h i c h w o u l d h a r m o u r o p e ra t i n g re s u l t s . We h a ve h i s t o r i c a l l y n o t b e e n p r o f i t a b l e . G L X wa s i n c o r p o ra t e d o n A p r i l 1 3, 2 0 1 5. Fro m i n c e p t i o n t h ro u g h D e c e m b e r 3 1, 2 0 1 8 w e h a ve

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RISK FACTORS i n c u r re d n e t l o s s e s o f a p p rox i m a t e l y $ 8.6 4 m i l l i o n . We ex p e c t t o i n c u r s i g n i f i c a n t o p e ra t i n g ex p e n s e s i n c o n n e c t i o n w i t h t h e c o n t i n u e d d e ve l o p m e n t a n d ex p a n s i o n o f o u r b u s i n e s s . O u r ex p e n s e s i n c l u d e i n t e l l e c t u a l p ro p e r t y, t e c h n o l o g y d e ve l o p m e n t , s a l e s a n d m a r k e t i n g ex p e n s e s re l a t i n g t o o u r p ro d u c t a n d s e r v i c e s t h a t o n l y re c e n t l y h a ve b e e n m a d e a va i l a b l e o r t h a t w i l l n o t b e i n t ro d u c e d , a n d w i l l n o t g e n e ra t e re ve n u e , u n t i l l a t e r p e r i o d s , i f a t a l l . We m a y ex p e r i e n c e l o s s e s a n d n e g a t i ve c a s h f l o w, s o m e o f w h i c h c o u l d b e s i g n i f i c a n t . R e s u l t s o f o p e ra t i o n s w i l l d e p e n d u p o n n u m e ro u s fa c t o r s , s o m e o f w h i c h a re b e yo n d o u r c o n t ro l , i n c l u d i n g m a r ke t a c c e p t a n c e o f o u r s o c i a l m e d i a p l a t fo r m , s e r v i c e s a n d c o m p e t i t i o n . O u r b u s i n e s s m ay b e s u b s t a n t i a l l y h u r t i f we a r e u n a b l e t o m e e t o u r f u t u r e c a p i t a l requirements. O u r b u s i n e s s s t ra t e g y re q u i re s s u b s t a n t i a l c a p i t a l t o m a r k e t a n d p ro m o t e t h e G L X p l a t fo r m . We p l a n t o i m p l e m e n t o u r a g g re s s i ve s a l e s a n d m a r k e t i n g p l a n a n d p rov i d e fo r a d e q u a t e wo r k i n g c a p i t a l t o m e e t t h e p ro j e c t e d d e m a n d fo r o u r s e r v i c e s ove r t h e n ex t 24 - m o n t h s . To d o t h i s , w e w i l l re q u i re s i g n i f i c a n t c a p i t a l t o m e e t a l l o f o u r g o a l s , a s i g n i f i c a n t p o r t i o n o f w h i c h w e a n t i c i p a t e w i l l c o m e f ro m t h e p ro c e e d s o f t h i s O f fe r i n g . I f w e a re u n a b l e t o o b t a i n s u f f i c i e n t c a p i t a l , w e w o u l d l i k e l y b e re q u i re d t o p ro p o r t i o n a t e l y s c a l e b a c k o u r s a l e s a n d marketing plan. A ny i n a b i l i t y o r d e l a y i n c l o s i n g s u c h f i n a n c i n g i s l i k e l y t o l e a ve u s w i t h i n s u f f i c i e n t c a s h t o m e e t t h e re q u i re m e n t s o f o u r a g g re s s i ve b u d g e t a n d i m p e d e o u r a b i l i t y t o p u r s u e o u r b u s i n e s s p l a n . I n a d d i t i o n , d e ve l o p m e n t o p p o r t u n i t i e s a n d o t h e r c o n t i n g e n c i e s m a y a r i s e , w h i c h c o u l d re q u i re a d d i t i o n a l c a p i t a l . A ny i n a b i l i t y t o o b t a i n re q u i re d f u t u re f i n a n c i n g wo u l d l i ke l y h a ve a m a t e r i a l l y a d ve r s e e f fe c t o n o u r b u s i n e s s a n d c o u l d re q u i re t h a t w e s i g n i f i c a n t l y re d u c e o r s u s p e n d o u r o p e ra t i o n s , s e e k a m e rg e r p a r t n e r o r s e l l s o m e o r s u b s t a n t i a l l y a l l o f o u r a s s e t s , i n w h i c h c a s e , a ny i nve s t m e n t i n t h e C o m p a ny m ay b e re n d e re d va l u e l e s s . We p re s e n t l y h a ve n o a r ra n g e m e n t s o r u n d e r s t a n d i n g s w i t h a ny p ro s p e c t i ve m e rg e r p a r t n e r o r p ro s p e c t i ve I nve s t o r o f o u r a s s e t s . I f w e a re u n a b l e t o re a l i z e s u b s t a n t i a l p ro c e e d s f ro m t h i s O f fe r i n g , a d d i t i o n a l f i n a n c i n g m a y n o t b e a va i l a b l e w h e n n e e d e d o n t e r m s a c c e p t a b l e t o u s o r a t a l l . I f w e ra i s e f u n d s t h ro u g h d e b t f i n a n c i n g , w e w i l l h a ve t o p a y i n t e re s t a n d m ay b e s u b j e c t t o re s t r i c t i ve c ove n a n t s . I f w e c a n n o t ra i s e n e c e s s a r y a d d i t i o n a l c a p i t a l o n a c c e p t a b l e t e r m s , w e m ay n o t b e a b l e t o d e ve l o p o r e n h a n c e o u r p l a t fo r m , t a k e a d va n t a g e o f f u t u re o p p o r t u n i t i e s o r re s p o n d t o c o m p e t i t i ve p re s s u re s o r u n a n t i c i p a t e d i n d u s t r y c h a n g e s . C e r t a i n f i n a n c i a l s t a t e m e n t s i n c l u d e d i n t h i s O f fe r i n g M e m o ra n d u m h a ve n o t b e e n a u d i t e d by i n d e p e n d e n t a c c o u n t a n t s . C e r t a i n f i n a n c i a l s t a t e m e n t s i n c l u d e d i n t h i s O f fe r i n g M e m o ra n d u m , i f s u b s e q u e n t l y a u d i t e d , m a y b e s u b j e c t t o a u d i t a d j u s t m e n t s w h i c h m ay re f l e c t m a t e r i a l d i f fe re n c e s i n o u r f i n a n c i a l c o n d i t i o n a n d re s u l t s o f o p e ra t i o n s f ro m t h o s e d e s c r i b e d i n o u r u n a u d i t e d f i n a n c i a l s t a t e m e n t s .

RISK FACTORS I n a d d i t i o n , w e c a n n o t a s s u re yo u t h a t , i f a l l o f o u r f i n a n c i a l s t a t e m e n t s w e re a u d i t e d , t h a t a n a u d i t re p o r t wo u l d n o t b e q u a l i f i e d , i n c l u d i n g a q u a l i f i c a t i o n by t h e i n d e p e n d e n t a c c o u n t a n t s a b o u t t h e C o m p a ny a s a g o i n g c o n c e r n . C o m p e t i t i o n i n o u r i n d u s t r y i s i n t e n s e w i t h l ow b a r r i e r s t o e n t r y, a n d we m ay b e u n a b l e t o c o m p e t e s u c c e s s f u l l y a g a i n s t ex i s t i n g o r n e w c o m p e t i t o r s . O u r i n d u s t r y i s h i g h l y c o m p e t i t i ve , a n d w e ex p e c t c o m p e t i t i o n t o i n t e n s i f y i n t h e f u t u re . We h a ve m a ny p r i m a r y c o m p e t i t o r s l o c a t e d i n t h e U n i t e d S t a t e s a n d a b ro a d i n t h e f i n a n c i a l t e c h n o l o g y i n d u s t r y. A d d i t i o n a l c o m p e t i t o r s a re l i k e l y t o e n t e r o u r i n d u s t r y i n t h e f u t u re . We a l s o fa c e c o m p e t i t i o n f ro m t h e t ra d i t i o n a l i nve s t m e n t i n fo r m a t i o n a n d n e t w o r k i n g m e d i a . M a ny o f o u r c u r re n t c o m p e t i t o r s a n d p o t e n t i a l c o m p e t i t o r s h a ve l o n g e r o p e ra t i n g h i s t o r i e s a n d s i g n i f i c a n t l y g re a t e r f i n a n c i a l , t e c h n i c a l , s a l e s a n d m a r k e t i n g re s o u rc e s o r g re a t e r n a m e re c o g n i t i o n t h a n w e d o . A s a re s u l t , t h e s e c o m p e t i t o r s a re a b l e t o d e vo t e g re a t e r re s o u rc e s t o t h e d e ve l o p m e n t , p ro m o t i o n , s a l e a n d s u p p o r t o f t h e i r p ro d u c t s . I n a d d i t i o n , o u r c o m p e t i t o rs t h a t h a ve l a rg e m a r k e t c a p i t a l i z a t i o n s o r c a s h re s e r ve s a re i n a b e t t e r p o s i t i o n t o a c q u i re o t h e r c o m p a n i e s i n o rd e r t o g a i n n e w t e c h n o l o g i e s a n d s e r v i c e s t h a t m a y d i s p l a c e o u r s e r v i c e s . A ny o f t h e s e p o t e n t i a l a c q u i s i t i o n s c o u l d g i ve o u r c o m p e t i t o rs a s t ra t e g i c a d va n t a g e . I n a d d i t i o n , s o m e o f o u r c u r re n t c o m p e t i t o r s a n d p o t e n t i a l c o m p e t i t o r s h a ve g re a t e r b ra n d n a m e re c o g n i t i o n , a m o re ex t e n s i ve c u s t o m e r b a s e a n d b ro a d e r s e r v i c e o f fe r i n g s t h a n w e d o . T h e s e c o m p a n i e s c a n u s e t h e i r b ro a d e r c u s t o m e r b a s e a n d p ro d u c t o f fe r i n g s , o r a d o p t a g g re s s i ve p r i c i n g p o l i c i e s , t o g a i n m a r k e t s h a re . I n c re a s e d c o m p e t i t i o n i n t h e m a r ke t m a y re s u l t i n l o s s o f m a r k e t s h a re , a ny o f w h i c h c o u l d h a r m o u r b u s i n e s s . Fu t u r e g ove r n m e n t r e g u l a t i o n m ay i m p e d e o u r a b i l i t y t o f u l l y i m p l e m e n t o u r b u s i n e s s model. B l o c k c h a i n t e c h n o l o g i e s h a ve b e e n t h e s u b j e c t o f s c r u t i ny by va r i o u s re g u l a t o r y b o d i e s a ro u n d t h e w o r l d . T h e f u n c t i o n i n g o f t h e G L X p l a t fo r m a n d t h e To k e n s c o u l d b e i m p a c t e d by o n e o r m o re re g u l a t o r y i n q u i r i e s o r a c t i o n s , i n c l u d i n g t h e l i c e n s i n g o f o r re s t r i c t i o n s o n t h e u s e , s a l e , o r p o s s e s s i o n o f d i g i t a l a s s e t s l i k e t h e To k e n s , w h i c h c o u l d i m p e d e , l i m i t o r e n d t h e d e ve l o p m e n t o f t h e G L X p l a t fo r m . A ny fa i l u re t o c o m p l y w i t h a ny a p p l i c a b l e l a w s a n d re g u l a t i o n s c o u l d re s u l t i n re s t r i c t i o n s o n o u r a b i l i t y t o p rov i d e o u r s e r v i c e s , a s w e l l a s t h e imposition of civil fines and criminal penalties. O u r s u c c e s s d e p e n d s o n o u r a b i l i t y t o m a i n t a i n o u r p r o fe s s i o n a l r e p u t a t i o n a n d n a m e . I f w e a re u n a b l e t o d o s o , o u r b u s i n e s s w o u l d b e s i g n i f i c a n t l y a n d n e g a t i ve l y i m p a c t e d . We d e p e n d o n o u r ove ra l l re p u t a t i o n a n d n a m e re c o g n i t i o n t o o p e ra t e . We w i l l o b t a i n a n d a re l i k e l y t o c o n t i n u e o b t a i n i n g m a ny o f o u r n e w U s e r s f ro m re fe r ra l s . I f a ny fa c t o r h u r t s o u r re p u t a t i o n , i n c l u d i n g p o o r p e r fo r m a n c e , w e m ay ex p e r i e n c e d i f f i c u l t i e s i n c o m p e t i n g s u c c e s s f u l l y fo r n e w U s e r s . Fa i l u re t o m a i n t a i n o u r p ro fe s s i o n a l re p u t a t i o n a n d b ra n d n a m e

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RISK FACTORS c o u l d s e r i o u s l y h a r m o u r b u s i n e s s , f i n a n c i a l c o n d i t i o n a n d re s u l t s o f o p e ra t i o n s . O u r s u c c e s s d e p e n d s o n r e t a i n i n g o u r key p e r s o n n e l , t h e l o s s o f w h o m c o u l d d i s r u p t o u r o p e ra t i o n s o r o t h e r w i s e h a r m o u r b u s i n e s s . Our success depends on the continued contributions of our senior management, particularly M r. R u s s o , o u r Fo u n d e r & C E O . C o m p e t i t i o n fo r e m p l oye e s i n o u r i n d u s t r y c a n b e i n t e n s e . We d o n o t h a ve ke y m a n l i fe i n s u ra n c e p o l i c i e s c ove r i n g , a ny o f o u r exe c u t i ve s . I n a d d i t i o n , a l a rg e p o r t i o n o f t h e e q u i t y To k e n s h e l d by t h e m e m b e r s o f o u r m a n a g e m e n t i s f u l l y ve s t e d . T h e re c a n b e n o a s s u ra n c e t h a t w e w i l l re t a i n o u r k e y e m p l oye e s o r b e a b l e t o h i re re p l a c e m e n t s . O u r l o s s o f a ny k e y e m p l oye e o r a n i n a b i l i t y t o re p l a c e l o s t k e y e m p l oye e s a n d a d d n e w k e y e m p l oye e s a s w e g ro w c o u l d d i s r u p t o u r o p e ra t i o n s o r o t h e r w i s e h a r m o u r b u s i n e s s . We r e l y o n i n t e l l e c t u a l p r o p e r t y l aw s , t ra d e s e c r e t s a n d c o n f i d e n t i a l i t y a g r e e m e n t s t o p r o t e c t o u r p r o p r i e t a r y r i g h t s , w h i c h a f fo r d o n l y l i m i t e d p r o t e c t i o n . O u r s u c c e s s d e p e n d s u p o n o u r a b i l i t y t o p ro t e c t o u r p ro p r i e t a r y r i g h t s . We re l y o n t ra d e m a r k a n d c o py r i g h t l a w, t ra d e s e c re t p ro t e c t i o n a n d c o n f i d e n t i a l i t y a n d / o r l i c e n s e a g re e m e n t s w i t h o u r e m p l oye e s , c u s t o m e r s , p a r t n e r s a n d o t h e r s t o p ro t e c t o u r p ro p r i e t a r y r i g h t s . E x i s t i n g t ra d e s e c re t l a w s a n d c o n f i d e n t i a l i t y a g re e m e n t s a f fo rd o n l y l i m i t e d p ro t e c t i o n . I n a d d i t i o n , t h e l a w s o f s o m e fo re i g n c o u n t r i e s d o n o t p ro t e c t o u r p ro p r i e t a r y r i g h t s t o t h e s a m e ex t e n t a s d o t h e l a w s o f t h e U n i t e d S t a t e s , a n d p o l i c i n g t h e u n a u t h o r i z e d u s e o f o u r p ro d u c t s i s d i f f i c u l t . A ny fa i l u re t o a d e q u a t e l y p ro t e c t o u r p ro p r i e t a r y r i g h t s c o u l d re s u l t i n o u r c o m p e t i t o rs o f fe r i n g s i m i l a r s e r v i c e s , i n c l u d i n g d e l i ve r y o f c o n t e n t , p o t e n t i a l l y re s u l t i n g i n t h e l o s s o f s o m e o f o u r c o m p e t i t i ve a d va n t a g e a n d a d e c re a s e i n o u r re ve n u e . T h e re c a n b e n o a s s u ra n c e t h a t t h e s t e p s t a k e n by u s t o p ro t e c t o u r p ro p r i e t a r y r i g h t s w i l l b e a d e q u a t e o r t h a t t h i rd p a r t i e s w i l l n o t i n f r i n g e o r m i s a p p ro p r i a t e o u r c o py r i g h t s , t ra d e m a r k s , t ra d e d re s s a n d s i m i l a r p ro p r i e t a r y r i g h t s . R I S KS C O N C E R N I N G O U R P L AT F O R M A N D S O F T WA R E T h e fa i l u r e t o a d e q u a t e l y m a i n t a i n t h e s e c u r i t y o f o u r we b s i t e s m ay c o m p r o m i s e o u r a b i l i t y t o p r e ve n t l o s s o f s e n s i t i ve i n fo r m a t i o n . T h e s e c u r i t y o f o u r w e b s i t e s i s o f p r i m e i m p o r t a n c e t o t h e C o m p a ny. W i t h o u t s u c h s e c u r i t y, w e m a y b e re q u i re d t o ex p e n d s i g n i f i c a n t c a p i t a l o r o t h e r re s o u rc e s t o p ro t e c t a g a i n s t p o t e n t i a l s e c u r i t y b re a c h e s o r a t t a c k s o r t o a l l e v i a t e p ro b l e m s c a u s e d by s u c h b re a c h e s o r a t t a c k s . I f u n a u t h o r i z e d a c c e s s t o o u r sys t e m s a re o b t a i n e d , t h e p o t e n t i a l l o s s t o u s m ay b e s i g n i f i c a n t . Risk of theft and hacking. H a c ke rs o r o t h e r g ro u p s o r o rg a n i z a t i o n s o r c o u n t r i e s m ay a t t e m p t t o i n t e r fe re w i t h t h e G L X p l a t fo r m o r t h e a va i l a b i l i t y o f t h e To k e n s i n a ny n u m b e r o f ways , i n c l u d i n g s e r v i c e a t t a c k s ,

RISK FACTORS S y b i l a t t a c k s , s p o o f i n g , s m u r f i n g , m a l wa re a t t a c k s , o r c o n s e n s u s b a s e d a t t a c k s . We m ay n o t b e a b l e t o r e t a i n U s e r s . O u r b u s i n e s s m o d e l re q u i re s a l a rg e n u m b e r o f u s e r s , v i s i t o r s a n d m e m b e r s ( c o l l e c t i ve l y h e re i n â&#x20AC;&#x153; U s e r s â&#x20AC;? ) . O u r U s e r s i n c l u d e t h e exc h a n g e s , p u b l i c l y t ra d e d c o m p a n i e s , s e r v i c e p rov i d e r s , i n d u s t r y p ro fe s s i o n a l s , re t a i l i nve s t o r s , e t c . O u r re ve n u e s a re a d i re c t re s u l t o f t h e n u m b e r o f a c t i ve U s e rs w e h a ve . I f w e a re u n a b l e t o o b t a i n a l a rg e n u m b e r o f U s e r s o r w e ex p e r i e n c e a l o w re t e n t i o n , o u r b u s i n e s s w i l l fa i l . T h e m a r ke t fo r o u r s o c i a l f i n a n c i a l n e t wo r k i n g p l a t fo r m i s n e w a n d c o n s t a n t l y c h a n g i n g . I f we d o n o t r e s p o n d t o c h a n g e s i n a t i m e l y m a n n e r, t h e C o m p a ny l i ke l y w i l l n o l o n g e r b e c o m p e t i t i ve . T h e m a r ke t fo r o u r p l a t fo r m i s c h a ra c t e r i z e d by ra p i d t e c h n o l o g i c a l c h a n g e , n e w a n d i m p rove d s e r v i c e s , c h a n g e s i n c u s t o m e r re q u i re m e n t s a n d e vo l v i n g i n d u s t r y s t a n d a rd s . O u r f u t u re s u c c e s s w i l l d e p e n d t o a s u b s t a n t i a l ex t e n t o n o u r a b i l i t y t o d e ve l o p , i n t ro d u c e a n d s u p p o r t c o s t - e f fe c t i ve n e w s e r v i c e s a n d t e c h n o l o g i e s o n a t i m e l y b a s i s . I f w e fa i l t o d e ve l o p a n d d e p l oy n e w c o s t - e f fe c t i ve s e r v i c e s a n d t e c h n o l o g i e s o r e n h a n c e m e n t s o f ex i s t i n g o f fe r i n g s o n a t i m e l y b a s i s , o r i f w e ex p e r i e n c e d e l ays i n t h e d e ve l o p m e n t , i n t ro d u c t i o n o r e n h a n c e m e n t o f o u r p l a t fo r m a n d t e c h n o l o g i e s , w e w i l l n o l o n g e r b e c o m p e t i t i ve a n d o u r b u s i n e s s w i l l s u f fe r. R i s k o f a l t e r n a t i ve , u n o f f i c i a l G L X p l a t fo r m . Fo l l o w i n g o u r ST O a n d t h e ex p a n s i o n o f t h e G L X p l a t fo r m , i t i s p o s s i b l e t h a t a l t e r n a t i ve a p p l i c a t i o n s c o u l d b e e s t a b l i s h e d , w h i c h m ay u s e t h e s a m e o r s i m i l a r s o u rc e c o d e a n d p ro t o c o l u n d e r l y i n g t h e G L X p l a t fo r m . T h e o f f i c i a l G L X p l a t fo r m m ay c o m p e t e w i t h t h e s e a l t e r n a t i ve , u n o f f i c i a l G L X b a s e d a p p l i c a t i o n s , w h i c h c o u l d p o t e n t i a l l y n e g a t i ve l y i m p a c t t h e G L X p l a t fo r m a n d t h e To ke n s , i n c l u d i n g t h e i r va l u e . R i s k o f i n s u f f i c i e n t i n t e r e s t i n t h e G L X p l a t fo r m o r d i s t r i b u t e d a p p l i c a t i o n s . I t i s p o s s i b l e t h a t t h e G L X p l a t fo r m w i l l n o t b e u s e d by a l a rg e n u m b e r o f b u s i n e s s e s , i n d i v i d u a l s , a n d o t h e r o rg a n i z a t i o n s a n d t h a t t h e re w i l l b e l i m i t e d p u b l i c i n t e re s t i n t h e c re a t i o n a n d d e ve l o p m e n t o f d i s t r i b u t e d a p p l i c a t i o n s . S u c h a l a c k o f i n t e re s t c o u l d n e g a t i ve l y i m p a c t t h e To ke n s a n d t h e G L X p l a t fo r m . R i s k t h a t t h e G L X p l a t fo r m , a s d eve l o p e d , w i l l n o t m e e t t h e ex p e c t a t i o n s o f G L X o r t h e public. T h e G L X p l a t fo r m i s p re s e n t l y u n d e r d e ve l o p m e n t i n B e t a re l e a s e a n d m ay u n d e rg o s i g n i f i c a n t c h a n g e s b e fo re o u r f u l l re l e a s e . A ny ex p e c t a t i o n s o r a s s u m p t i o n s re g a rd i n g t h e fo r m a n d f u n c t i o n a l i t y o f t h e G L X p l a t fo r m o r t h e To k e n s ( i n c l u d i n g p a r t i c i p a n t b e h a v i o u r ) h e l d by

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RISK FACTORS G L X o r t h e I nve s t o r m a y n o t b e m e t u p o n f u l l re l e a s e , fo r a ny n u m b e r o f re a s o n s i n c l u d i n g m i s t a ke n a s s u m p t i o n s o r a n a l ys i s , a c h a n g e i n t h e d e s i g n a n d i m p l e m e n t a t i o n p l a n s a n d exe c u t i o n o f t h e G L X p l a t fo r m . R i s k o f s e c u r i t y we a k n e s s e s i n t h e G L X p l a t fo r m c o r e i n f ra s t r u c t u r e s o f t wa r e . T h e G L X p l a t fo r m c o n s i s t s o f a c o m b i n a t i o n o f p ro p r i e t a r y s o f t wa re a n d o p e n s o u rc e s o f t wa re . T h e re i s a r i s k t h a t t h e G L X t e a m o r o t h e r t h i rd p a r t i e s m ay i n t e n t i o n a l l y o r u n i n t e n t i o n a l l y i n t ro d u c e w e a k n e s s e s o r b u g s i n t o t h e c o re i n f ra s t r u c t u ra l e l e m e n t s o f t h e G L X p l a t fo r m i n t e r fe r i n g w i t h t h e u s e o f o r c a u s i n g t h e l o s s o f t h e To k e n s . R i s k o f l a c k o f a d o p t i o n o r u s e o f t h e G L X p l a t fo r m . T h a t va l u e o f t h e To k e n s m a y b e l i m i t e d i f t h e G L X p l a t fo r m l a c k s u s e a n d a d o p t i o n . I f t h i s b e c o m e s t h e c a s e , t h e re m ay b e fe w o r n o m a r k e t s fo l l o w i n g t h e l a u n c h o f t h e p l a t fo r m , p o t e n t i a l l y h a v i n g a n a d ve r s e i m p a c t o n t h e To k e n s . R i s k o f m a l f u n c t i o n i n t h e G L X p l a t fo r m . I t i s p o s s i b l e t h a t t h e G L X p l a t fo r m m a l f u n c t i o n s i n a n u n fa vo ra b l e way, i n c l u d i n g o n e t h a t re s u l t s i n t h e l o s s o f t h e To k e n s . Risk of dissolution of the GLX project. I t i s p o s s i b l e t h a t , d u e t o a ny n u m b e r o f re a s o n s , i n c l u d i n g a n u n fa vo ra b l e f l u c t u a t i o n i n t h e va l u e o f E t h e r, d e ve l o p m e n t i s s u e s w i t h t h e G L X p l a t fo r m , t h e fa i l u re o f b u s i n e s s re l a t i o n s h i p s , o r c o m p e t i n g i n t e l l e c t u a l p ro p e r t y c l a i m s , t h e G L X p ro j e c t m ay n o l o n g e r b e v i a b l e a s a b u s i n e s s o r o t h e r w i s e a n d m ay d i s s o l ve o r fa i l t o l a u n c h . I f we d o n o t s u c c e s s f u l l y e s t a b l i s h s t r o n g b ra n d i d e n t i t y i n t h e s o c i a l m e d i a m a r ke t s , we m ay b e u n a b l e t o a c h i eve w i d e s p r e a d a c c e p t a n c e o f o u r we b p l a t fo r m s a n d o u r services. We b e l i e ve t h a t e s t a b l i s h i n g a n d s t re n g t h e n i n g t h e G L X p l a t fo r m a n d a l l re l a t e d s e r v i c e s i s c r i t i c a l t o a c h i e v i n g w i d e s p re a d a c c e p t a n c e o f o u r o f fe r i n g s a n d t o e s t a b l i s h i n g k e y s t ra t e g i c re l a t i o n s h i p s . T h e i m p o r t a n c e o f b ra n d re c o g n i t i o n w i l l i n c re a s e a s c u r re n t a n d p o t e n t i a l c o m p e t i t o rs e n t e r t h e m a r k e t w i t h c o m p e t i n g s e r v i c e s . O u r a b i l i t y t o p ro m o t e a n d p o s i t i o n o u r b ra n d d e p e n d s l a rg e l y o n t h e s u c c e s s o f o u r m a r k e t i n g e f fo r t s a n d o u r a b i l i t y t o p rov i d e h i g h q u a l i t y s e r v i c e s a n d c u s t o m e r s u p p o r t . T h e s e a c t i v i t i e s a re ex p e n s i ve a n d w e m a y n o t g e n e ra t e a c o r re s p o n d i n g i n c re a s e i n c u s t o m e r s o r re ve n u e t o j u s t i f y t h e s e c o s t s . I f w e fa i l t o e s t a b l i s h a n d m a i n t a i n o u r b ra n d , o r i f o u r b ra n d va l u e i s d a m a g e d o r d i l u t e d , w e m a y b e u n a b l e t o a t t ra c t n e w c u s t o m e rs a n d c o m p e t e e f fe c t i ve l y.

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RISK FACTORS R I S KS C O N C E R N I N G I N V E S T I N G I N U S T h e r e i s n o c o m m i t m e n t t o p u r c h a s e t h e To ke n s . T h e To ke n s a re b e i n g o f fe re d o n a “ b e s t e f fo r t s ” b a s i s a n d n o c o m m i t m e n t ex i s t s by a nyo n e t o p u rc h a s e a l l o r a ny p o r t i o n o f t h e s e c u r i t i e s b e i n g o f fe re d . We c a n g i ve n o a s s u ra n c e t h a t a l l o r a ny p o r t i o n o f t h e s e c u r i t i e s w i l l b e s o l d . A l l p ro c e e d s o f t h e O f fe r i n g w i l l i m m e d i a t e l y b e a va i l a b l e t o u s e ve n i f t h e e n t i re O f fe r i n g i s n o t s o l d . To t h e ex t e n t t h a t l e s s t h a n a l l o f t h e s e c u r i t i e s a re s o l d a n d a b s e n t a ny a d d i t i o n a l f i n a n c i n g , t h e C o m p a ny m ay b e p re ve n t e d f ro m implementing our business plans. T h i s i s a b e s t e f fo r t s O f fe r i n g w i t h n o m i n i m u m a m o u n t o f p r o c e e d s . T h i s O f fe r i n g i s b e i n g m a d e o n a “ b e s t e f fo r t s ” b a s i s . A l t h o u g h w e a n t i c i p a t e t h a t t h i s O f fe r i n g w i l l b e f u l l y s u b s c r i b e d by I nve s t o r s , w e c a n n o t a s s u re yo u t h a t a l l o r a ny s p e c i f i e d n u m b e r o f t h e To ke n s w i l l b e s o l d a n d t h e d e s i re d c a p i t a l ra i s e d t h ro u g h t h i s O f fe r i n g . T h e O f fe r i n g h a s n o m i n i m u m a m o u n t a n d a l l p ro c e e d s f ro m t h e s a l e o f t h e To k e n s w i l l b e i m m e d i a t e l y d e p o s i t e d i n t o o u r a c c o u n t s t o b e u s e d by u s . T h e re a re n o e s c ro w, re f u n d o r m i n i m u m p rov i s i o n s a p p l i c a b l e t o t h i s O f fe r i n g . O u r a c c e p t a n c e o f I nve s t o r s ’ s u b s c r i p t i o n s i s n o t c o n t i n g e n t u p o n f u l l s u b s c r i p t i o n o f t h e O f fe r i n g , a n d s u b s c r i p t i o n s w i l l n o t b e h e l d i n e s c ro w u n t i l f u l l s u b s c r i p t i o n i s a t t a i n e d . We i n t e n d t o u t i l i z e I nve s t o r s ’ s u b s c r i p t i o n f u n d s i m m e d i a t e l y u p o n o u r re c e i p t a n d a c c e p t a n c e o f i n d i v i d u a l s u b s c r i p t i o n s , a n d w e i n t e n d t o p ro c e e d w i t h o u r b u s i n e s s o p e ra t i o n s u t i l i z i n g w h a t e ve r s u b s c r i p t i o n f u n d s m ay b e ra i s e d i n t h e O f fe r i n g . T h e r e h a s b e e n n o p r i o r p u b l i c m a r ke t fo r o u r s e c u r i t i e s , a n d i f a p u b l i c m a r ke t d o e s n o t d eve l o p , yo u m ay h ave d i f f i c u l t y s e l l i n g yo u r To ke n s . P r i o r t o t h i s O f fe r i n g , t h e re h a s b e e n n o p u b l i c m a r k e t fo r o u r s e c u r i t i e s . We c a n n o t a s s u re yo u t h a t a n a c t i ve t ra d i n g m a r k e t w i l l d e ve l o p o r b e s u s t a i n e d . I f a n a c t i ve t ra d i n g m a r k e t fo r t h e To ke n s d o e s n o t d e ve l o p , yo u w i l l l i k e l y h a ve d i f f i c u l t y s e l l i n g yo u r To k e n s a n d yo u m i g h t h a ve t o h o l d t h e s e To k e n s i n d e f i n i t e l y. I f t h e To ke n s d o b e c o m e p u b l i c l y t ra d e d , t h ey m ay l i ke l y b e c o m p a r e d a n d s u b j e c t t o t h e p e n ny s t o c k r u l e s . T h e a p p l i c a t i o n o f t h e “ p e n ny s t o c k ” r u l e s w i l l l i ke l y m a ke s e l l i n g yo u r To ke n s m o r e d i f f i c u l t t h a n i f o u r To ke n s we r e t ra d e d o n a n a t i o n a l s t o c k exc h a n g e a n d / o r a r e g u l a t e d t o ke n exc h a n g e . T h e To ke n s w i l l b e a “ p e n ny s t o c k , ” u n d e r R u l e 3 a 51 -1 u n d e r t h e S e c u r i t i e s a n d E xc h a n g e A c t , unless and until: • t h e To ke n s re a c h a p r i c e o f a t l e a s t $ 5.0 0 p e r - t o k e n ; • w e m e e t t h e f i n a n c i a l s i z e a n d vo l u m e l e ve l s fo r o u r To k e n s n o t t o b e c o n s i d e re d a

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RISK FACTORS p e n ny s t o c k ; o r • w e re g i s t e r t h e s e c u r i t i e s o n a n a t i o n a l s e c u r i t i e s exc h a n g e a n d / o r a re g u l a t e d t o k e n exc h a n g e . T h e To ke n s a re l i k e l y t o re m a i n p e n ny s t o c k s fo r a c o n s i d e ra b l e p e r i o d a f t e r t h i s O f fe r i n g . A “ p e n ny s t o c k ” i s s u b j e c t t o r u l e s t h a t re q u i re s e c u r i t i e s b ro k e r - d e a l e r s , b e fo re c a r r y i n g o u t t ra n s a c t i o n s i n a ny “ p e n ny s t o c k ” : • t o d e l i ve r a d i s c l o s u re d o c u m e n t t o t h e c u s t o m e r d e s c r i b i n g t h e r i s k s o f p e n ny s t o c k s , a n d g e t a w r i t t e n re c e i p t fo r t h a t d o c u m e n t , b e fo re s e l l i n g p e n ny s t o c k s t o t h a t customer; • t o d i s c l o s e p r i c e i n fo r m a t i o n a b o u t t h e s t o c k ; • t o d i s c l o s e t h e c o m p e n s a t i o n re c e i ve d by t h e b ro k e r - d e a l e r o r a ny a s s o c i a t e d p e r s o n o f t h e b ro k e r - d e a l e r ; a n d • t o s e n d m o n t h l y s t a t e m e n t s t o c u s t o m e r s w i t h m a r k e t a n d p r i c e i n fo r m a t i o n a b o u t t h e “ p e n ny s t o c k ” . O u r To ke n s m ay a l s o b e s u b j e c t t o a r u l e w h i c h re q u i re s b ro k e r - d e a l e r s , i n s o m e c i rc u m s t a n c e s , t o a p p rove t h e “ p e n ny s t o c k ” I nve s t o r ’s a c c o u n t u n d e r s t a n d a rd s s p e c i f i e d i n t h e r u l e a n d d e l i ve r w r i t t e n s t a t e m e n t s t o t h e c u s t o m e r w i t h i n fo r m a t i o n s p e c i f i e d i n t h e r u l e . T h e s e a d d i t i o n a l re q u i re m e n t s c o u l d p re ve n t b ro k e r - d e a l e r s f ro m c a r r y i n g o u t t ra n s a c t i o n s i n o u r To ke n s a n d l i m i t yo u r a b i l i t y t o s e l l yo u r To k e n s . I f we d o n o t q u a l i f y fo r O T C M a r ke t s i n c l u s i o n a n d a r e n o t o t h e r w i s e e l i g i b l e fo r l i s t i n g o n a n a t i o n a l exc h a n g e a n d / o r a r e g u l a t e d t o ke n exc h a n g e , yo u m ay h a ve d i f f i c u l t y s e l l i n g yo u r To ke n s . S h o u l d w e c h o o s e t o l i s t o u r To k e n s fo r t ra d i n g o n a m a r k e t o r exc h a n g e , w e a n t i c i p a t e t h a t o u r To ke n s m a y b e e l i g i b l e fo r q u o t a t i o n o n t h e O T C M a r k e t s . I f fo r a ny re a s o n , h o w e ve r, o u r To ke n s a re n o t e l i g i b l e fo r q u o t a t i o n o n t h e O T C M a r k e t s , o r a p u b l i c t ra d i n g m a r k e t d o e s n o t d e ve l o p , yo u m a y h a ve d i f f i c u l t y s e l l i n g yo u r To k e n s . I f w e a re u n a b l e t o s a t i s f y t h e re q u i re m e n t s fo r q u o t a t i o n o n t h e O T C M a r k e t s a n d d o n o t q u a l i f y fo r l i s t i n g o n a n a t i o n a l exc h a n g e a n d / o r a re g u l a t e d t o k e n exc h a n g e , a ny t ra d i n g i n o u r To k e n s w o u l d b e c o n d u c t e d i n t h e ove r - t h e - c o u n t e r m a r k e t i n w h a t a re c o m m o n l y re fe r re d t o a s t h e “ p i n k s h e e t s ” . A s a re s u l t , yo u m a y f i n d i t m o re d i f f i c u l t t o d i s p o s e o f, o r t o o b t a i n a c c u ra t e q u o t a t i o n s a s t o t h e p r i c e o f, yo u r To k e n s . We ex p e c t o u r To ke n p r i c e t o b e vo l a t i l e .

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RISK FACTORS I f o u r To ke n s d o b e c o m e p u b l i c l y t ra d e d , t h e p r i c e a t w h i c h o u r To k e n s w i l l t ra d e i s l i k e l y t o b e h i g h l y vo l a t i l e a n d m a y f l u c t u a t e s u b s t a n t i a l l y d u e t o m a ny fa c t o r s , s o m e o f w h i c h a re : • a c t u a l o r a n t i c i p a t e d f l u c t u a t i o n s i n o u r re s u l t s o f o p e ra t i o n s ; • d e ve l o p m e n t s w i t h re s p e c t t o i n t e l l e c t u a l p ro p e r t y r i g h t s ; • a n n o u n c e m e n t s o f t e c h n o l o g i c a l i n n ova t i o n s o r s i g n i f i c a n t c o n t ra c t s by u s o r o u r competitors; • i n t ro d u c t i o n o f n e w p ro d u c t s by u s o r o u r c o m p e t i t o r s ; • o u r s a l e o f t h e To k e n s o r o t h e r s e c u r i t i e s i n t h e f u t u re ; • c o n d i t i o n s a n d t re n d s i n t h e s o c i a l m e d i a i n d u s t r i e s ; • t h e t ra d i n g vo l u m e o f o u r To k e n s ; • c h a n g e s i n t h e e s t i m a t i o n o f t h e f u t u re s i z e a n d g ro w t h ra t e o f o u r m a r k e t s ; a n d • g e n e ra l e c o n o m i c c o n d i t i o n s . A ny m a r ke t fo r o u r To ke n s w h i c h d o e s d e ve l o p m ay b e i l l i q u i d . T h e re m a y b e o n l y a l i m i t e d t ra d i n g m a r k e t fo r o u r To k e n s . We ex p e c t t h a t i n i t i a l l y a ny m a r k e t w i l l b e o n t h e O T C M a r k e t s . To k e n s w h i c h a re “ t h i n l y ” t ra d e d o n t h e O T C M a r k e t s o f t e n t ra d e o n l y i n f re q u e n t l y a n d ex p e r i e n c e a s i g n i f i c a n t s p re a d b e t w e e n t h e m a r k e t m a k e r ’s b i d a n d a s ke d p r i c e s . A s a re s u l t , o u r To k e n s m ay b e i l l i q u i d e ve n i f t h e re i s a m a r k e t . We a r b i t ra r i l y d e t e r m i n e d t h e p r i c e o f t h e To ke n s . We a r b i t ra r i l y d e t e r m i n e d t h e p r i c e o f t h e To k e n s . T h e p r i c e i s n o t n e c e s s a r i l y re l a t e d t o o u r a s s e t va l u e , b o o k va l u e , f i n a n c i a l c o n d i t i o n o r a ny o t h e r re c o g n i z e d c r i t e r i a o f va l u e . We h a ve i m p l e m e n t e d a n t i - t a ke ove r p r ov i s i o n s t h a t c o u l d d i s c o u ra g e a t h i r d p a r t y f r o m a c q u i r i n g u s a n d c o n s e q u e n t l y d e c r e a s e t h e m a r ke t va l u e o f yo u r i nve s t m e n t . O u r A r t i c l e s o f I n c o r p o ra t i o n a n d B y l a w s c o n t a i n p rov i s i o n s t h a t m ay h a ve t h e e f fe c t o f d e l a y i n g o r p re ve n t i n g a c h a n g e o f c o n t ro l o r c h a n g e s i n m a n a g e m e n t t h a t a To k e n h o l d e r m i g h t c o n s i d e r fa vo ra b l e . O u r c e r t i f i c a t e a n d B y l a w s , a m o n g o t h e r t h i n g s , a l l o w o u r B o a rd t o d e s i g n a t e “ b l a n k c h e c k ” p re fe r re d t o k e n s a n d l i m i t w h o m ay c a l l s p e c i a l m e e t i n g s o f To ke n h o l d e rs . T h e s e p rov i s i o n s m a y d e l ay o r i m p e d e a m e rg e r, t e n d e r o f fe r o r p rox y c o n t e s t i nvo l v i n g u s . A ny d e l a y o r p re ve n t i o n o f a c h a n g e o f c o n t ro l t ra n s a c t i o n o r c h a n g e s i n

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RISK FACTORS m a n a g e m e n t c o u l d c a u s e t h e m a r k e t p r i c e o f o u r To k e n s t o d e c l i n e . B e c a u s e o u r exe c u t i ve o f f i c e r s ’ a n d d i r e c t o r s ’ l i a b i l i t i e s a r e l i m i t e d , yo u r r i g h t s a g a i n s t t h e m i n a c i v i l l aw s u i t m ay b e l i m i t e d . We w i l l i n d e m n i f y a ny exe c u t i ve o f f i c e r, d i re c t o r o r fo r m e r exe c u t i ve o f f i c e r o r d i re c t o r, a n d m a y i n d e m n i f y a ny o t h e r o f f i c e r o r e m p l oye e , t o t h e f u l l ex t e n t p e r m i t t e d by Fl o r i d a l a w. T h i s c o u l d i n c l u d e i n d e m n i f i c a t i o n fo r l i a b i l i t i e s u n d e r s e c u r i t i e s l a w s e n a c t e d fo r To k e n h o l d e r p ro t e c t i o n , t h o u g h t h e S E C t h i n k s t h i s i n d e m n i f i c a t i o n i s a g a i n s t p u b l i c p o l i c y. T h e d u a l c l a s s s t r u c t u r e o f o u r vo t i n g s e c u r i t i e s h a s t h e e f fe c t o f c o n c e n t ra t i n g vo t i n g c o n t r o l w i t h o u r Fo u n d e r a n d C h i e f E xe c u t i ve O f f i c e r, w h i c h w i l l l i m i t o r p r e c l u d e yo u r a b i l i t y t o i n f l u e n c e c o r p o ra t e m a t t e r s . O u r C l a s s B C o m m o n E q u i t y To k e n s h a ve t e n vo t e s p e r - t o k e n a n d o u r C l a s s A C o m m o n E q u i t y To ke n s , w h i c h i s t h e e q u i t y u n d e r l y i n g t h e To k e n s w e a re o f fe r i n g i n t h i s O f fe r i n g , h a s o n e vo t e p e r - t o ke n . M r. R u s s o , o u r Fo u n d e r & C E O , c u r re n t l y o w n s a l l o f t h e C l a s s B C o m m o n E q u i t y To ke n s . A s a re s u l t , h e w i l l h o l d i n exc e s s o f 9 5 % o f t h e vo t i n g p o w e r o f o u r o u t s t a n d i n g C o m m o n To ke n s fo l l o w i n g t h i s O f fe r i n g , a s s u m i n g t h e O f fe r i n g i s f u l l y s u b s c r i b e d . B e c a u s e o f t h e t e n - t o - o n e vo t i n g ra t i o b e t w e e n o u r C l a s s B a n d C l a s s A C o m m o n E q u i t y To k e n s , t h e h o l d e rs o f o u r C l a s s B C o m m o n E q u i t y To k e n s , c u r re n t l y M r. R u s s o , w i l l c o n t i n u e t o c o n t ro l a m a j o r i t y o f t h e c o m b i n e d vo t i n g p o w e r w i t h i n o u r C o m p a ny a n d t h e re fo re b e a b l e t o c o n t ro l a l l m a t t e rs s u b m i t t e d t o o u r To k e n h o l d e r s fo r a p p rova l . T h i s c o n c e n t ra t e d c o n t ro l w i l l l i m i t o r p re c l u d e yo u r a b i l i t y t o i n f l u e n c e c o r p o ra t e m a t t e r s fo r t h e fo re s e e a b l e f u t u re . We d o n o t ex p e c t t o p ay d i v i d e n d s o n o u r c o m m o n To ke n s . We d o n o t a n t i c i p a t e p a y i n g c a s h d i v i d e n d s i n t h e fo re s e e a b l e f u t u re t o o w n e r s o f o u r c o m m o n To ke n s . We p re s e n t l y i n t e n d t o re i nve s t o u r c a s h b a c k i n t o t h e C o m p a ny ra t h e r t h a n p a y i n g d i v i d e n d s t o o u r c o m m o n To k e n h o l d e r s . A s a re s u l t , yo u r a b i l i t y t o re a l i z e a ny re t u r n o n yo u r i nve s t m e n t i n t h e To k e n s w i l l l i k e l y re s u l t o n l y f ro m yo u r s a l e o f s o m e o r a l l o f t h e s e To k e n s . T h e i s s u a n c e o f a d d i t i o n a l To ke n s w i l l d i l u t e t h e i n t e re s t s o f o u r o u r C o m m o n To ke n h o l d e r s . A s o f D e c e m b e r 3 1, 2 0 1 8, w e h a d 2 6,5 2 9,4 2 1 C l a s s A C o m m o n E q u i t y To k e n s , 1 4 ,0 0 0,0 0 0 C l a s s B C o m m o n E q u i t y To ke n s , a n d 2,8 6 3,3 74 c o m m o n t o k e n o p t i o n s o u t s t a n d i n g . O u r B o a rd h a s t h e a b i l i t y, w i t h o u t f u r t h e r To k e n h o l d e r a p p rova l , t o i s s u e u p t o 7 3,4 7 0,5 7 9 a d d i t i o n a l C l a s s A C o m m o n E q u i t y To k e n s a n d 8 6,0 0 0,0 0 0 a d d i t i o n a l C l a s s B C o m m o n E q u i t y To k e n s . S u c h i s s u a n c e m a y re s u l t i n a re d u c t i o n o f t h e b o o k va l u e o r m a r k e t p r i c e o f o u r o u t s t a n d i n g To ke n s . I s s u a n c e o f a d d i t i o n a l c o m m o n To k e n s w i l l re d u c e t h e p ro p o r t i o n a t e o w n e r s h i p a n d vo t i n g p o w e r o f t h e t h e n ex i s t i n g To ke n h o l d e r s . Fu r t h e r, i f t h e m a x i m u m O f fe r i n g i s ra i s e d , w e w i l l h a ve a p p rox i m a t e l y 4 8,3 9 2,7 9 5 m i l l i o n C l a s s A C o m m o n E q u i t y To k e n s o u t s t a n d i n g o n a f u l l y d i l u t e d b a s i s . T h u s , t h e p e rc e n t a g e o f To k e n s o w n e d by a l l ex i s t i n g To k e n h o l d e r s w i l l

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RISK FACTORS b e re d u c e d p ro p o r t i o n a t e l y. O u r B o a r d m ay i s s u e p r e fe r r e d t o ke n s w i t h r i g h t s a n d p r e fe r e n c e s s e n i o r t o o u r C o m m o n To ke n s . O u r B o a rd i s a u t h o r i z e d t o i s s u e , w i t h o u t f u r t h e r a p p rova l o f t h e To k e n h o l d e r s , p re fe r re d t o ke n s i n o n e o r m o re s e r i e s a n d t o f i x t h e vo t i n g p o w e r a n d t h e d e s i g n a t i o n s , p re fe re n c e s a n d re l a t i ve p a r t i c i p a t i n g , o p t i o n a l o r o t h e r r i g h t s a n d re s t r i c t i o n s t h e re o f. We m a y i s s u e a s e r i e s o f p re fe r re d t o k e n s i n t h e f u t u re t h a t w i l l h a ve p re fe re n c e ove r t h e C o m m o n To k e n s w i t h re s p e c t t o t h e p a y m e n t o f d i v i d e n d s a n d u p o n t h e C o m p a ny â&#x20AC;&#x2122;s l i q u i d a t i o n , d i s s o l u t i o n o r w i n d i n g u p , o r h a ve vo t i n g o r c o nve r s i o n r i g h t s w h i c h c o u l d a d ve r s e l y a f fe c t t h e vo t i n g p o w e r a n d p e rc e n t a g e o w n e r s h i p o f t h e h o l d e r s o f C o m m o n To k e n s . O u r m a n a g e m e n t h a s b r o a d d i s c r e t i o n i n a p p l i c a t i o n o f t h e p r o c e e d s f r o m t h i s O f fe r i n g . A l a rg e p o r t i o n o f t h e e s t i m a t e d n e t p ro c e e d s f ro m t h i s O f fe r i n g h a s b e e n a l l o c a t e d fo r wo r k i n g c a p i t a l a n d fo r g e n e ra l c o r p o ra t e p u r p o s e s . A c c o rd i n g l y, w e w i l l h a ve b ro a d d i s c re t i o n a s t o t h e a p p l i c a t i o n o f s u c h p ro c e e d s . A p o r t i o n o f t h e n e t p ro c e e d s o f t h i s O f fe r i n g w i l l a l s o b e u s e d t o p a y s a l a r i e s t o o u r o f f i c e r s , d i re c t o r s a n d c o n s u l t a n t s . I nve s t o r s i n t h i s O f fe r i n g w i l l i n c u r s u b s t a n t i a l d i l u t i o n . T h e O f fe r i n g P r i c e i s s u b s t a n t i a l l y h i g h e r t h a n t h e b o o k va l u e p e r - t o k e n o f o u r C o m m o n To ke n s s . I nve s t o rs p u rc h a s i n g t h e To ke n s i n t h i s O f fe r i n g w i l l t h e re fo re i n c u r i m m e d i a t e substantial dilution. We h a ve a n d l i ke l y w i l l i n t h e f u t u r e u s e e q u i t y t o c o m p e n s a t e o u r o f f i c e r s , d i r e c t o r s , e m p l oye e s a n d c o n s u l t a n t s . A s a ke y c o m p o n e n t o f o u r g ro w t h s t ra t e g y, w e o f fe r g e n e ro u s e q u i t y c o m p e n s a t i o n p a c k a g e s t o o u r m a n a g e m e n t , e m p l oye e s , c o n s u l t a n t s a n d s t ra t e g i c p a r t n e r s . We b e l i e ve s u c h c o m p e n s a t i o n p a c k a g e s w i l l a l l o w u s t o p rov i d e s u b s t a n t i a l i n c e n t i ve s t o o u r exe c u t i ve s a n d e m p l oye e s w h i l e m i n i m i z i n g o u r c a s h o u t f l o w. N e ve r t h e l e s s , w e w i l l b e re q u i re d t o a c c o u n t fo r t h e fa i r m a r k e t va l u e o f c o m p e n s a t o r y t o k e n i s s u a n c e s a s o p e ra t i n g ex p e n s e s . N o n - c a s h ex p e n s e s a r i s i n g f ro m f u t u re i n c e n t i ve t ra n s a c t i o n s m a y m a t e r i a l l y a n d a d ve r s e l y a f fe c t o u r f u t u re o p e ra t i n g re s u l t s . U s e o f e q u i t y a s a c q u i s i t i o n c u r r e n cy. A s a k e y c o m p o n e n t o f o u r g ro w t h s t ra t e g y, w e h a ve a n d w i l l c o n t i n u e t o a c q u i re c o m p l e m e n t a r y b u s i n e s s e s , t e c h n o l o g i e s , fa c i l i t i e s a n d o t h e r a s s e t s . W h e n e ve r p o s s i b l e , w e w i l l t r y t o u s e o u r e q u i t y a s a n a c q u i s i t i o n c u r re n c y i n o rd e r t o c o n s e r ve o u r a va i l a b l e c a s h re s o u rc e s fo r o p e ra t i o n a l n e e d s . Fu t u re a c q u i s i t i o n s m ay g i ve r i s e t o s u b s t a n t i a l c h a rg e s fo r t h e

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Offering Memorandum

RISK FACTORS i m p a i r m e n t o f g o o d w i l l a n d o t h e r i n t a n g i b l e a s s e t s t h a t w o u l d m a t e r i a l l y a n d a d ve r s e l y a f fe c t o u r re p o r t e d o p e ra t i n g re s u l t s .

[ T H E R E M A I N D E R O F T H I S PAG E I S I N T E N T I O N A L LY L E F T B L A N K ]

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RISK FACTORS

R I S K FAC T O R S R E L AT E D T O SECURITY TOKEN OFFERINGS

R i s k o f Lo s i n g A c c e s s t o G L X D u e t o Lo s s o f C r e d e n t i a l s T h e I nve s t o r ’s To k e n s m a y b e a s s o c i a t e d w i t h a G L X a c c o u n t . T h e G L X a c c o u n t c a n o n l y b e a c c e s s e d w i t h l o g i n c re d e n t i a l s s e l e c t e d by t h e I nve s t o r. T h e l o s s o f t h e s e c re d e n t i a l s m a y re s u l t i n t h e l o s s o f t h e I nve s t o r ’s To k e n s . B e s t p ra c t i c e s d i c t a t e t h a t I nve s t o r s s a fe l y s t o re c re d e n t i a l s i n o n e o r m o re b a c k u p l o c a t i o n s g e o g ra p h i c a l l y s e p a ra t e d f ro m t h e wo r k i n g location. Risks Associated with the Ethereum Protocol To ke n s a re b a s e d o n t h e E t h e re u m p ro t o c o l . A s s u c h , a ny m a l f u n c t i o n , u n i n t e n d e d f u n c t i o n , u n ex p e c t e d f u n c t i o n i n g o f o r a t t a c k o n t h e E t h e re u m p ro t o c o l m ay c a u s e t h e G L X p l a t fo r m o r To ke n s t o m a l f u n c t i o n o r f u n c t i o n i n a n u n ex p e c t e d o r u n i n t e n d e d m a n n e r. E t h e r, t h e n a t i ve u n i t o f a c c o u n t o f t h e E t h e re u m p ro t o c o l m ay i t s e l f l o s e va l u e i n ways s i m i l a r t o To k e n s , a n d a l s o o t h e r wa ys . M o re i n fo r m a t i o n a b o u t t h e E t h e re u m p ro t o c o l i s a va i l a b l e a t h t t p : / /w w w. e t h e re u m . o rg . R i s k s A s s o c i a t e d w i t h Pu r c h a s e r C r e d e n t i a l s A ny t h i rd p a r t y t h a t g a i n s a c c e s s t o , o r l e a r n s o f t h e I nve s t o r ’s l o g i n c re d e n t i a l s o r p r i va t e ke ys , m a y b e a b l e t o d i s p o s e o f t h e I nve s t o r ’s To k e n s . To m i n i m i z e t h i s r i s k , t h e I nve s t o r s h o u l d g u a rd a g a i n s t u n a u t h o r i z e d a c c e s s t o t h e i r e l e c t ro n i c d e v i c e s a t a l l t i m e s . R i s k o f We a k n e s s e s o r E x p l o i t a b l e B r e a k t h r o u g h s i n t h e Fi e l d o f C r y p t o g ra p hy A d va n c e s i n c r y p t o g ra p h y, o r t e c h n i c a l a d va n c e s s u c h a s t h e d e ve l o p m e n t o f q u a n t u m c o m p u t e rs , c o u l d p re s e n t r i s k s t o c r y p t o c u r re n c i e s a n d t h e G L X p l a t fo r m , w h i c h c o u l d re s u l t i n t h e t h e f t o r l o s s o f To k e n s . R i s k o f To ke n s M i n i n g A t t a c k s A s w i t h o t h e r d e c e n t ra l i z e d c r y p t o g ra p h i c To k e n s a n d c r y p t o c u r re n c i e s , t h e b l o c k c h a i n

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Offering Memorandum

RISK FACTORS u s e d fo r t h e G L X p l a t fo r m i s s u s c e p t i b l e t o m i n i n g a t t a c k s , i n c l u d i n g d o u b l e - s p e n d a t t a c k s , m a j o r i t y m i n i n g p o w e r a t t a c k s , â&#x20AC;&#x153; s e l f i s h - m i n i n g â&#x20AC;? a t t a c k s , a n d ra c e c o n d i t i o n a t t a c k s . A ny s u c c e s s f u l a t t a c k s p re s e n t a r i s k t o t h e G L X p l a t fo r m , To k e n s , a n d ex p e c t e d p ro p e r exe c u t i o n a n d s e q u e n c i n g o f E t h e re u m c o n t ra c t c o m p u t a t i o n s . D e s p i t e t h e e f fo r t s o f t h e G L X t e a m , t h e r i s k o f k n o w n o r n ove l m i n i n g a t t a c k s ex i s t s . R i s k o f a n I l l i q u i d M a r ke t fo r t h e To ke n s T h e re ve r y w e l l m a y n e ve r b e a s e c o n d a r y m a r k e t fo r t h e To k e n s . C u r re n t l y t h e To k e n s a re n o t t ra d e d o n a ny exc h a n g e . I f e ve r exc h a n g e s d o d e ve l o p , t h e y w i l l l i k e l y b e re l a t i ve l y n e w a n d s u b j e c t t o p o o r l y u n d e r s t o o d re g u l a t o r y ove r s i g h t . T h e y m ay, t h e re fo re , b e m o re ex p o s e d t o f ra u d a n d fa i l u re t h a n e s t a b l i s h e d , re g u l a t e d exc h a n g e s fo r o t h e r p ro d u c t s a n d h a ve a n e g a t i ve i m p a c t o n t h e To k e n s . R i s k o f U n i n s u r e d Lo s s e s Unlike bank accounts or accounts at some other financial institutions, funds held using the G L X p l a t fo r m o r t h e E t h e re u m n e t w o r k a re g e n e ra l l y u n i n s u re d . I n t h e e ve n t o f a ny l o s s , t h e re i s n o p u b l i c i n s u re r, s u c h a s t h e F D I C , o r p r i va t e i n s u re r, t o o f fe r re c o u r s e t o t h e I nve s t o r. Unanticipated Risks C r y p t o g ra p h i c t o k e n s a re a n e w a n d u n t e s t e d t e c h n o l o g y. I n a d d i t i o n t o t h e r i s k s d i s c u s s e d i n t h i s O f fe r i n g M e m o ra n d u m , t h e re a re r i s k s t h a t t h e G L X t e a m c a n n o t a n t i c i p a t e . Fu r t h e r r i s k s m a y m a t e r i a l i z e a s u n a n t i c i p a t e d c o m b i n a t i o n s o r va r i a t i o n s o f t h e d i s c u s s e d r i s k s o r t h e e m e rg e n c e o f n e w r i s k s .

[ T H E R E M A I N D E R O F T H I S PAG E I S I N T E N T I O N A L LY L E F T B L A N K ]

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NOTICE TO INVESTORS

IT IS THE RESPONSIBILITY OF ANY PERSONS WISHING TO SUBSCRIBE TO THE TOKENS DESCRIBED IN THIS OFFERING MEMORANDUM TO INFORM THEMSELVES OF AND TO OBSERVE ALL APPLICABLE LAWS AND REGULATIONS OF ANY RELEVANT JURISDICTIONS. INVETORS SHOULD INFORM THEMSELVES AS TO THE LEGAL REQUIREMENTS AND TAX CONSEQUENCES WITHIN THE COUNTRIES OF THEIR CITIZENSHIP, RESIDENCE, DOMICILE, AND PLACE OF BUSINESS WITH RESPECT TO THE ACQUISITION, HOLDING, OR DISPOSAL OF THESE GLX CLASS A COMMON EQUITY TOKENS, AND ANY NON-U.S. EXCHANGE RESTRICTIONS THAT MAY BE RELEVANT THERETO. THIS OFFERING MEMORANDUM CONSTITUTES AN OFFER OF TOKENS ONLY IN THOSE JURISDICTIONS AND TO THOSE PERSONS WHERE AND TO WHOM THEY LAWFULLY MAY BE OFFERED FOR SALE. THIS OFFERING MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE FOR TOKENS EXCEPT TO THE EXTENT PERMITTED BY THE LAWS OF EACH APPLICABLE JURISDICTION. IN PARTICULAR, ANY POTENTIAL INVESTOR CONFIRMS THAT (1) ANY DISCUSSIONS BETWEEN REPRESENTATIVES OF THE POTENTIAL INVESTOR AND THE COMPANY AND ITS AFFILIATES REGARDING ACQUISITION OF INTEREST IN THE COMPANY WERE INITIATED BY ONE OR MORE REPRESENTATIVES OF SUCH POTENTIAL INVESTOR, AND (2) PRIOR TO DELIVERY OF THIS OFFERING MEMORANDUM OR OTHER OFFERING OF GLX CLASS A COMMON EQUITY TOKENS, NEITHER THE COMPANY, THE FUND, THE FUND MANAGER, NOR THEIR RESPECTIVE AFFILIATES HAVE MADE AN INTEREST IN THE COMPANY AVAILABLE FOR PURCHASE BY SUCH POTENTIAL INVESTORS, EITHER AS AN OFFER THAT CAN BE ACCEPTED BY POTENTIAL INVESTOR OR AS AN INVITATION EXTENDED TO POTENTIAL INVESTOR TO MAKE AN OFFER TO SUBSCRIBE FOR THE INVESTMENT. THE COMPANY IS NOT PROVIDING YOU WITH ANY LEGAL, BUSINESS OR FINANCIAL ADVICE ABOUT ANY MATTER. YOU MAY NOT LEGALLY BE ABLE TO PARTICIPATE IN THIS PRIVATE, UNREGISTERED OFFERING. YOU SHOULD CONSULT WITH YOUR OWN ATTORNEY, ACCOUNTANT, AND OTHER ADVISORS ABOUT THOSE MATTERS (INCLUDING DETERMINING WHETHER YOU MAY LEGALLY PARTICIPATE IN THIS OFFERING). YOU SHOULD CONTACT US WITH ANY QUESTIONS ABOUT THIS OFFERING. THE XX TOKEN IS A DIGITAL TOKEN ON THE ETHEREUM BLOCKCHAIN WITH AN ABILITY TO EXECUTE CODE (SMART CONTRACT). THE XX TOKEN IS HELD IN A DIGITAL WALLET. THE FACT OF THE OWNERSHIP IS USUALLY DEFINED BY THE OWNER SHIP OF THE PRIVATE KEY THAT ENABLES ACCESS

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Offering Memorandum

NOTICE TO INVESTORS TO THE DIGITAL WALLET HOLDING THE TOKEN. PRIVATE AND PUBLIC KEYS ARE 256-BIT NUMBERS, THE PUBLIC KEY ACTS AS AN ADDRESS AND THE PRIVATE KEY CONTROLS THE CONTENTS OF THE DIGITAL WALLET. YOU MUST COMPLY WITH ALL LAWS AND REGULATIONS (INCLUDING KYC/AML LAWS) THAT APPLY TO YOU IN ANY PLACE IN WHICH YOU PURCHASE, OFFER OR SELL ANY GLX CLASS A COMMON EQUITY TOKENS OR POSSESS OR DISTRIBUTE THIS OFFERING MEMORANDUM. YOU MUST ALSO OBTAIN ANY CONSENTS, PERMISSIONS, OR APPROVALS THAT YOU NEED IN ORDER TO PURCHASE, OFFER OR SELL ANY GLX CLASS A COMMON EQUITY TOKENS UNDER THE LAWS AND REGULATIONS IN FORCE IN ANY JURISDICTION TO WHICH YOU ARE SUBJECT OR IN WHICH YOU MAKE SUCH PURCHASES, OFFERS, OR SALES. THE COMPANY IS NOT RESPONSIBLE FOR YOUR COMPLIANCE WITH THESE LEGAL REQUIREMENTS. THE COMPANY IS NOT MAKING ANY REPRESENTATION TO YOU REGARDING THE LEGALITY OF YOUR INVESTMENT IN THE GLX CLASS A COMMON EQUITY TOKENS UNDER ANY LEGAL INVESTMENT OR SIMILAR LAW OR REGULATION. NOTHING IN THIS OFFERING MEMORANDUM IS INTENDED TO CREATE A CONTRACT FOR THE INVESTMENT IN THE COMPANY, AND EACH POTENTIAL INVESTOR ACKNOWLEDGES THAT THE COMPANY WILL RELY ON THIS ASSERTION OF A POTENTIAL INVESTOR’S STATEMENTS WITH RESPECT TO COMPLIANCE WITH THE LAWS OF THE JURISDICTION IN WHICH POTENTIAL INVESTOR IS LEGALLY DOMICILED. NOTICE TO RESIDENTS OF AUSTRALIA NO PROSPECTUS, DISCLOSURE DOCUMENT, OFFERING MATERIAL, OR ADVERTISEMENT IN RELATION TO THE GLX CLASS A COMMON EQUITY TOKENS HAS BEEN LODGED WITH THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, OR THE AUSTRALIAN STOCK EXCHANGE LIMITED. THIS OFFERING MEMORANDUM IS BEING PROVIDED TO A LIMITED NUMBER OF “SOPHISTICATED INVESTORS” AS DEFINED UNDER THE CORPORATION ACT 2001 OF THE COMMONWEALTH OF AUSTRALIA SOLELY TO ENABLE THEM TO DECIDE WHETHER OR NOT TO MAKE AN OFFER TO ENTER INTO COMMITMENTS TO INVEST IN THE GLX CLASS A COMMON EQUITY TOKENS UPON THE TERMS AND SUBJECT TO THE RESTRICTIONS SET OUT HEREIN AND MAY NOT BE REPRODUCED OR USED FOR ANY OTHER PURPOSE. IN ORDER TO MEET THE CRITERIA OF A SOPHISTICATED INVESTOR, AN INVESTOR MUST HAVE AN ACCOUNTANT ISSUE A CERTIFICATE STATING THAT AN INDIVIDUAL HAS (I) NET ASSETS OF AT LEAST TWO MILLION AND FIVE HUNDRED THOUSAND USD ($2,500,000) OR (II) A GROSS INCOME FOR EACH OF THE LAST TWO FINANCIAL YEARS OF AT LEAST TWO HUNDRED AND FIFTY THOUSAND USD ($250,000) NOTICE TO RESIDENTS OF ARGENTINA NO PROSPECTUS, DISCLOSURE DOCUMENT, OFFERING MATERIAL, OR ADVERTISEMENT IN RELATION TO THE GLX CLASS A COMMON EQUITY TOKENS HAS BEEN LODGED WITH THE NATIONAL SECURITIES

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NOTICE TO INVESTORS COMMISSION OF ARGENTINA (NSC) OR UNDER LAW NO 26,831 (CAPITAL MARKET LAW) OR ANY OTHER REGULATIONS. THIS OFFERING MEMORANDUM IS NOT SUBJECT TO, HAD NOT BEEN FILED, AND HAS NOT RECEIVED APPROVAL FROM THE NSC. THIS DOCUMENT IS NOT AND SHOULD NOT BE CONSTRUED AS A PROSPECTUS. GLX CLASS A COMMON EQUITY TOKENS ARE NOT BEING OFFERED FOR SALE OR SUBSCRIPTION TO THE PUBLIC IN GENERAL BUT ARE BEING PRIVATELY PLACED WITH A LIMITED NUMBER OF INVETORS WHO MUST SATISFY THE REQUIREMENT AS PER THE LOCAL SECURITIES LAWS OF ARGENTINA AND SEEK LEGAL ADVICE AS TO WHETHER THEY ARE ENTITLED TO SUBSCRIBE TO GLX CLASS A COMMON EQUITY TOKENS AND MUST COMPLY WITH ALL RELEVANT LAWS IN THIS RESPECT. NOTICE TO RESIDENTS OF BERMUDA GLX CLASS A COMMON EQUITY TOKENS BEING OFFERED HEREBY ARE BEING OFFERED ON A PRIVATE BASIS TO INVESTORS WHO SATISFY CRITERIA OUTLINED IN THIS OFFERING MEMORANDUM. THIS OFFERING MEMORANDUM IS NOT SUBJECT TO AND HAS NOT RECEIVED APPROVAL FROM EITHER THE BERMUDA MONETARY AUTHORITY OR THE REGISTRAR OF COMPANIES IN BERMUDA, AND NO STATEMENT TO THE CONTRARY, EXPLICIT OR IMPLICIT, IS AUTHORIZED TO BE MADE IN THIS REGARD. GLX CLASS A COMMON EQUITY TOKENS BEING OFFERED MAY BE OFFERED OR SOLD IN BERMUDA ONLY IN COMPLIANCE WITH THE PROVISIONS OF THE INVESTMENT BUSINESS ACT 2003 (AS AMENDED) OF BERMUDA. ADDITIONALLY, NON-BERMUDIAN PERSONS MAY NOT CARRY ON OR ENGAGE IN ANY TRADE OR BUSINESS IN BERMUDA UNLESS SUCH PERSONS ARE AUTHORIZED TO DO SO UNDER APPLICABLE BERMUDA LEGISLATION. ENGAGING IN THE ACTIVITY OF OFFERING OR MARKETING THE GLX CLASS A COMMON EQUITY TOKENS BEING OFFERED IN BERMUDA TO PERSONS IN BERMUDA MAY BE DEEMED TO BE CARRYING ON BUSINESS IN BERMUDA. NOTICE TO RESIDENTS OF BRAZIL THE GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE COMISSÃO DE VALORES MOBILIÁRIOS (THE BRAZILIAN SECURITIES COMMISSION). THE GLX CLASS A COMMON EQUITY TOKENS MAY NOT BE OFFERED OR SOLD IN THE FEDERATIVE REPUBLIC OF BRAZIL EXCEPT IN CIRCUMSTANCES WHICH DO NOT CONSTITUTE A PUBLIC OFFERING OR DISTRIBUTION UNDER BRAZILIAN LAWS AND REGULATIONS AND IN ACCORDANCE WITH THE SECURITIES LAWS OF BRAZIL. NOTICE TO INVESTORS IN CANADA THIS OFFERING MEMORANDUM CONSTITUTES AN OFFERING OF GLX CLASS A COMMON EQUITY TOKENS ONLY IN THOSE JURISDICTIONS AND TO THOSE PERSONS WHERE AND TO WHOM THEY MAY LAWFULLY BE OFFERED FOR SALE, AND THEREIN ONLY BY PERSONS PERMITTED TO SELL GLX CLASS A COMMON EQUITY TOKENS. THIS OFFERING MEMORANDUM IS NOT, AND UNDER NO CIRCUMSTANCES IS TO BE CONSTRUED AS, A PROSPECTUS, AN ADVERTISEMENT, OR A PUBLIC OFFERING OF GLX

112

Offering Memorandum

NOTICE TO INVESTORS CLASS A COMMON EQUITY TOKENS IN CANADA. NO SECURITIES COMMISSION OR SIMILAR AUTHORITY IN CANADA HAS REVIEWED OR IN ANY WAY PASSED UPON THIS OFFERING MEMORANDUM OR THE MERITS OF GLX CLASS A COMMON EQUITY TOKENS, AND ANY REPRESENTATION TO THE CONTRARY IS AN OFFENSE. PURCHASERS’ REPRESENTATIONS, COVENANTS, AND RESALE RESTRICTIONS EACH PURCHASER OF GLX CLASS A COMMON EQUITY TOKENS IN CANADA WHO RECEIVES A PURCHASE CONFIRMATION, REPRESENTS TO THE COMPANY THAT SUCH PURCHASER IS A PERSON TO WHICH GLX CLASS A COMMON EQUITY TOKENS MAY BE SOLD WITHOUT THE BENEFIT OF A PROSPECTUS QUALIFIED UNDER APPLICABLE PROVINCIAL SECURITIES LAWS. IN PARTICULAR, PURCHASERS RESIDING IN ONTARIO REPRESENT TO THE COMPANY THAT THE PURCHASER IS AN “ACCREDITED INVESTOR” AS SUCH TERM IS DEFINED IN SECTION 1.1 OF NATIONAL INSTRUMENT 45106 PROSPECTUS AND REGISTRATION EXEMPTIONS OF THE CANADIAN SECURITIES ADMINISTRATORS (THE “NI”). THE PURCHASER MUST PURCHASE GLX CLASS A COMMON EQUITY TOKENS AS PRINCIPAL. THE DISTRIBUTION OF GLX CLASS A COMMON EQUITY TOKENS IN CANADA IS BEING MADE ON A PRIVATE PLACEMENT BASIS TO RESIDENTS OF ONTARIO, QUÉBEC, BRITISH COLUMBIA, AND ALBERTA (TOGETHER THE “CANADIAN JURISDICTIONS”) AND IS EXEMPT FROM THE REQUIREMENTS IN THE CANADIAN JURISDICTIONS THAT THE COMPANY PREPARE AND FILE A PROSPECTUS WITH THE RELEVANT SECURITIES REGULATORY AUTHORITIES. THE OFFERING MEMORANDUM IS FOR THE CONFIDENTIAL USE OF THOSE PERSONS TO WHOM IT IS DELIVERED BY THE COMPANY IN CONNECTION WITH THE OFFERING OF GLX CLASS A COMMON EQUITY TOKENS IN CANADA. THE COMPANY RESERVES THE RIGHT TO REJECT ALL OR PART OF ANY OFFER TO PURCHASE GLX CLASS A COMMON EQUITY TOKENS FOR ANY REASON, OR ALLOCATE TO ANY PROSPECTIVE PURCHASER LESS THAN ALL OF GLX CLASS A COMMON EQUITY TOKENS FOR WHICH IT HAS SUBSCRIBED. RESPONSIBILITY EXCEPT AS OTHERWISE EXPRESSLY REQUIRED BY APPLICABLE LAW OR AS AGREED TO IN CONTRACT, NO REPRESENTATION, WARRANTY, OR UNDERTAKING (EXPRESS OR IMPLIED) IS MADE AND NO RESPONSIBILITIES OR LIABILITIES OF ANY KIND OR NATURE WHATSOEVER ARE ACCEPTED BY THE COMPANY AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM OR ANY OTHER INFORMATION PROVIDED BY THE COMPANY IN CONNECTION WITH THE OFFERING OF GLX CLASS A COMMON EQUITY TOKENS IN CANADA. INVESTING IN GLX CLASS A COMMON EQUITY TOKENS INVOLVES RISKS. PROSPECTIVE PURCHASERS SHOULD REFER TO THE “RISK FACTORS” DISCLOSURE CONTAINED IN THIS OFFERING MEMORANDUM FOR ADDITIONAL INFORMATION CONCERNING THESE RISKS. CERTAIN CANADIAN INCOME TAX CONSIDERATIONS

113

NOTICE TO INVESTORS

ANY DISCUSSION OF TAXATION AND RELATED MATTERS CONTAINED IN THIS OFFERING MEMORANDUM IS NOT A COMPREHENSIVE DESCRIPTION OF ALL THE TAX CONSIDERATIONS THAT MAY BE RELEVANT TO A DECISION TO PURCHASE GLX CLASS A COMMON EQUITY TOKENS. PROSPECTIVE PURCHASERS OF GLX CLASS A COMMON EQUITY TOKENS SHOULD CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO ANY TAXES EXIGIBLE IN CONNECTION WITH THE ACQUISITION, HOLDING OR DISPOSITION OF GLX CLASS A COMMON EQUITY TOKENS. IT IS RECOMMENDED THAT TAX ADVISORS BE EMPLOYED IN CANADA, AS THERE ARE A NUMBER OF SUBSTANTIVE CANADIAN TAX COMPLIANCE REQUIREMENTS FOR CANADIAN INVESTORS, INCLUDING WITH RESPECT TO THE ELIGIBILITY OF GLX CLASS A COMMON EQUITY TOKENS FOR INVESTMENT BY THEM UNDER APPLICABLE TAX AND OTHER LAWS IN CANADA, AND WITH RESPECT TO THE APPLICATION OF THE PROPOSED “FOREIGN INVESTMENT ENTITY ” PROVISIONS OF THE INCOME TAX ACT (CANADA) WHICH, IF APPLICABLE, MAY RESULT IN A REQUIREMENT TO RECOGNIZE INCOME FOR TAX PURPOSES EVEN THOUGH NO CASH DISTRIBUTION OR PROCEEDS OF DISPOSITION HAVE BEEN RECEIVED. RESALE RESTRICTIONS IN CANADA THE DISTRIBUTION OF GLX CLASS A COMMON EQUITY TOKENS IN CANADA IS BEING MADE ON A PRIVATE PLACEMENT BASIS ONLY AND IS EXEMPT FROM THE REQUIREMENT THAT THE COMPANY PREPARE AND FILE A PROSPECTUS WITH THE RELEVANT CANADIAN REGULATORY AUTHORITIES. ACCORDINGLY, ANY RESALE OF GLX CLASS A COMMON EQUITY TOKENS MUST BE MADE IN ACCORDANCE WITH APPLICABLE SECURITIES LAWS, WHICH MAY REQUIRE RESALES TO BE MADE IN ACCORDANCE WITH EXEMPTIONS FROM REGISTRATION AND PROSPECTUS REQUIREMENTS. PURCHASERS IN CANADA ARE ADVISED TO SEEK LEGAL ADVICE PRIOR TO ANY RESALE OF GLX CLASS A COMMON EQUITY TOKENS. THE COMPANY IS NOT A “REPORTING ISSUER” AS SUCH TERM IS DEFINED UNDER APPLICABLE CANADIAN SECURITIES LEGISLATION, IN ANY PROVINCE OR TERRITORY OF CANADA IN WHICH GLX CLASS A COMMON EQUITY TOKENS WILL BE OFFERED. UNDER NO CIRCUMSTANCES WILL THE COMPANY BE REQUIRED TO FILE A PROSPECTUS OR SIMILAR DOCUMENT WITH ANY SECURITIES REGULATORY AUTHORITY IN CANADA QUALIFYING THE RESALE OF GLX CLASS A COMMON EQUITY TOKENS TO THE PUBLIC IN ANY PROVINCE OR TERRITORY OF CANADA. CANADIAN INVESTORS ARE ADVISED THAT THE COMPANY CURRENTLY DOES NOT INTEND TO FILE A PROSPECTUS OR SIMILAR DOCUMENT WITH ANY SECURITIES REGULATORY AUTHORITY IN CANADA QUALIFYING THE RESALE OF GLX CLASS A COMMON EQUITY TOKENS TO THE PUBLIC IN ANY PROVINCE OR TERRITORY OF CANADA IN CONNECTION WITH THIS OFFERING. THEREFORE, THERE WILL BE NO PUBLIC MARKET IN CANADA FOR GLX CLASS A COMMON EQUITY TOKENS AND THE RESALE OR TRANSFER OF GLX CLASS A COMMON EQUITY TOKENS WILL BE SUBJECT TO RESTRICTION. REPRESENTATIONS OF CANADIAN PURCHASERS

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Offering Memorandum

NOTICE TO INVESTORS EACH CANADIAN PURCHASER OF GLX CLASS A COMMON EQUITY TOKENS WILL BE DEEMED TO HAVE REPRESENTED TO THE COMPANY ITS AND ITS AFFILIATES THAT: • THE OFFER AND SALE OF GLX CLASS A COMMON EQUITY TOKENS WAS MADE EXCLUSIVELY THROUGH THIS OFFERING MEMORANDUM SUCH PURCHASER HAS NOT RECEIVED OR RELIED ON ANY OTHER DOCUMENT OR FACT IN MAKING ITS INVESTMENT DECISION IN RESPECT OF THE PURCHASE OF GLX CLASS A COMMON EQUITY TOKENS; • SUCH PURCHASER HAS REVIEWED AND ACKNOWLEDGES THE TERMS OF THIS OFFERING MEMORANDUM; • WHERE REQUIRED IN ORDER TO RELY ON THE EXEMPTION CONTAINED IN SECTION 2.3 OF THE NI, SUCH PURCHASER IS PURCHASING AS PRINCIPAL FOR ITS OWN ACCOUNT AND NOT AS AGENT; AND • SUCH PURCHASER IS ENTITLED UNDER APPLICABLE CANADIAN SECURITIES LAWS TO PURCHASE SUCH GLX CLASS A COMMON EQUITY TOKENS WITHOUT THE BENEFIT OF A PROSPECTUS QUALIFIED UNDER SUCH SECURITIES LAWS, AND WITHOUT LIMITING THE GENERALITY OF THE FOREGOING: ◊ SUCH PURCHASER IS A RESIDENT IN ONE OF THE CANADIAN JURISDICTIONS, IS AN “ACCREDITED INVESTOR” AS DEFINED IN SECTION 1.1 OF THE NI, HAS NOT BEEN CREATED AND IS NOT BEING USED SOLELY TO QUALIFY AS AN ACCREDITED INVESTOR, AND IS PURCHASING GLX CLASS A COMMON EQUITY TOKENS AS PRINCIPAL (WITHIN THE MEANING OF THE NI) FOR INVESTMENT ONLY AND NOT WITH A VIEW TO RESALE OR DISTRIBUTION; ◊ SUCH PURCHASER UNDERSTANDS AND ACKNOWLEDGES THAT THE COMPANY IS NOT OBLIGATED TO FILE AND HAS NO PRESENT INTENTION OF FILING WITH ANY SECURITIES REGULATORY AUTHORITY IN THE CANADIAN JURISDICTIONS ANY PROSPECTUS IN RESPECT OF THE RESALE OF GLX CLASS A COMMON EQUITY TOKENS, AND THAT GLX CLASS A COMMON EQUITY TOKENS WILL BE SUBJECT TO RESALE RESTRICTIONS UNDER THE REQUIREMENTS OF APPLICABLE SECURITIES LAWS; ◊ (I) IS NOT AN INDIVIDUAL AND IS AN “ACCREDITED INVESTOR” AS DEFINED IN SECTION 1.1 OF THE NI, AND IS PURCHASING GLX CLASS A COMMON EQUITY TOKENS IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS, AND (II) HAS NOT RELIED, IN MAKING A DECISION TO INVEST IN GLX CLASS A COMMON EQUITY TOKENS, ON ANY “FORWARD-LOOKING INFORMATION”, AS DEFINED IN APPLICABLE SECURITIES LAWS IN ONTARIO, CONTAINED IN THIS OFFERING MEMORANDUM AND, ACCORDINGLY, THAT NONE OF SUCH “FORWARDLOOKING INFORMATION” CONTAINED IN THIS OFFERING MEMORANDUM IS MATERIAL TO ITS INVESTMENT DECISION REGARDING GLX CLASS A COMMON EQUITY TOKENS; AND ◊ IF SUCH PURCHASER IS IN QUÉBEC, IT IS ITS EXPRESS WISH THAT ALL DOCUMENTS EVIDENCING

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NOTICE TO INVESTORS OR RELATING IN ANY WAY TO THE SALE OF GLX CLASS A COMMON EQUITY TOKENS BE DRAFTED IN THE ENGLISH LANGUAGE ONLY. C’EST LA VOLONTÉ EXPRESSE DECHAQUE ACHETEUR QUE TOUS LES DOCUMENTS FAISANT FOI OU SE RAPPORTANT DE QUELQUE MANIÈRE À LA VENTE DES INTERÊTS SOIENT RÉDIGÉS UNIQUEMENT EN ANGLAIS. IN ADDITION, EACH PURCHASER OF GLX CLASS A COMMON EQUITY TOKENS RESIDENT IN CANADA WILL BE DEEMED TO HAVE REPRESENTED THE COMPANY AND ITS AFFILIATES THAT SUCH PURCHASER HAS BEEN NOTIFIED BY THE COMPANY THAT: THE COMPANY AND ITS AFFILIATES ARE REQUIRED TO PROVIDE INFORMATION (“PERSONAL INFORMATION”) PERTAINING TO THE PURCHASER AS REQUIRED TO BE DISCLOSED IN SCHEDULE I OF FORM 45-106F1 UNDER THE NI (INCLUDING ITS NAME, ADDRESS, TELEPHONE NUMBER, AND THE NUMBER AND VALUE OF ANY GLX CLASS A COMMON EQUITY TOKENS PURCHASED), WHICH FORM 45-106F1 IS REQUIRED TO BE FILED BY THE COMPANY UNDER THE NI; • SUCH PERSONAL INFORMATION WILL BE DELIVERED TO THE ONTARIO SECURITIES COMMISSION (THE “OSC”) IN ACCORDANCE WITH THE NI; • SUCH PERSONAL INFORMATION IS BEING COLLECTED INDIRECTLY BY THE OSC UNDER THE AUTHORITY GRANTED TO IT UNDER THE SECURITIES LEGISLATION OF ONTARIO; • SUCH PERSONAL INFORMATION IS BEING COLLECTED FOR THE PURPOSES OF THE ADMINISTRATION AND ENFORCEMENT OF THE SECURITIES LEGISLATION OF ONTARIO; • THAT THE PUBLIC OFFICIAL IN ONTARIO WHO CAN ANSWER QUESTIONS ABOUT THE OSC’S INDIRECT COLLECTION OF SUCH PERSONAL INFORMATION IS THE ADMINISTRATIVE ASSISTANT TO THE DIRECTOR OF CORPORATE FINANCE AT THE OSC, BOX 55 20 QUEEN STREET WEST, 19TH FLOOR, TORONTO, ONTARIO M5H 3S8, TELEPHONE: (416) 593-8086; • HAS AUTHORIZED THE INDIRECT COLLECTION OF THE PERSONAL INFORMATION BY THE OSC; AND • HAS ACKNOWLEDGED THAT ITS NAME, ADDRESS, TELEPHONE NUMBER AND OTHER SPECIFIED INFORMATION, INCLUDING THE NUMBER OF GLX CLASS A COMMON EQUITY TOKENS IT HAS PURCHASED AND THE AGGREGATE PURCHASE PRICE PAID BY THE PURCHASER, MAY BE DISCLOSED TO OTHER CANADIAN SECURITIES REGULATORY AUTHORITIES AND MAY BECOME AVAILABLE TO THE PUBLIC IN ACCORDANCE WITH THE REQUIREMENTS OF APPLICABLE LAWS. BY PURCHASING GLX CLASS A COMMON EQUITY TOKENS, THE INVESTOR CONSENTS TO THE DISCLOSURE OF SUCH INFORMATION. NOTICE TO RESIDENTS IN THE CAYMAN ISLANDS

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Offering Memorandum

NOTICE TO INVESTORS NO INVITATION MAY BE MADE TO THE PUBLIC IN THE CAYMAN ISLANDS TO SUBSCRIBE TO GLX CLASS A COMMON EQUITY TOKENS AND THIS OFFERING MEMORANDUM IS NOT REGISTERED WITH ANY GOVERNMENTAL OR ANY OTHER REGULATORY AUTHORITY IN THE CAYMAN ISLANDS. NOTICE TO RESIDENTS OF THE PEOPLE’S REPUBLIC OF CHINA GLX CLASS A COMMON EQUITY TOKENS WILL NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY IN THE PEOPLE’S REPUBLIC OF CHINA, INCLUDING MACAU. THE INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM WILL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY GLX CLASS A COMMON EQUITY TOKENS WITHIN CHINA. THIS OFFERING MEMORANDUM AND THE INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM HAVE NOT BEEN AND WILL NOT BE SUBMITTED TO OR APPROVED/ VERIFIED BY OR REGISTERED WITH ANY RELEVANT GOVERNMENTAL AUTHORITIES IN CHINA AND MAY NOT BE SUPPLIED TO THE PUBLIC IN CHINA OR USED IN CONNECTION WITH ANY OFFER FOR THE SUBSCRIPTION OR SALE OF GLX CLASS A COMMON EQUITY TOKENS IN CHINA. NOTICE TO RESIDENTS OF EU MEMBER STATES NO PROSPECTUS, DISCLOSURE DOCUMENT, OFFERING MATERIAL, OR ADVERTISEMENT IN RELATION TO GLX CLASS A COMMON EQUITY TOKENS HAS BEEN LODGED WITH ANY MEMBER OF THE EUROPEAN UNION. THE EUROPEAN UNION PROSPECTUS DIRECTIVE (203/71/EC) (THE “PROSPECTUS DIRECTIVE”), AS IMPLEMENTED BY THE MEMBER STATES OF THE EUROPEAN UNION, CONTAINS VARIOUS EXEMPTIONS FROM THE PROSPECTUS REQUIREMENTS ARISING UNDER THE PROSPECTUS DIRECTIVE AND UNDER THE SECURITIES LAWS OF THE EUROPEAN UNION MEMBER STATES. TO THE EXTENT SUCH EXEMPTIONS APPLY TO THIS OFFERING, THE COMPANY RESERVES THE RIGHT TO OFFER GLX CLASS A COMMON EQUITY TOKENS IN ACCORDANCE WITH SUCH EXEMPTIONS, NOTWITHSTANDING REFERENCES HEREIN TO ANY OTHER PROVISION OF THE SECURITIES LAWS OF ANY EUROPEAN UNION MEMBER STATE. EACH PERSON IN A RELEVANT MEMBER STATE WHO RECEIVES ANY COMMUNICATION IN RESPECT OF, OR WHO ACQUIRES ANY GLX CLASS A COMMON EQUITY TOKENS UNDER, THE OFFER CONTEMPLATED IN THIS OFFERING MEMORANDUM WILL BE DEEMED TO HAVE REPRESENTED, WARRANTED AND AGREED THAT: (I) THE INVESTOR IS A QUALIFIED INVESTOR WITHIN THE MEANING OF THE LAW IN THAT RELEVANT MEMBER STATE IMPLEMENTING ARTICLE 2(1)(E) OF THE PROSPECTUS DIRECTIVE, AND (II) IN THE CASE OF ANY GLX CLASS A COMMON EQUITY TOKENS ACQUIRED BY THE INVESTOR AS A FINANCIAL INTERMEDIARY, AS THAT TERM IS USED IN ARTICLE 3(2) OF THE PROSPECTUS DIRECTIVE, • THE GLX CLASS A COMMON EQUITY TOKENS ACQUIRED BY THE INVESTOR IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF, NOR HAVE THEY BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE TO, PERSONS IN ANY RELEVANT MEMBER STATE OTHER THAN QUALIFIED INVESTORS, AS THAT TERM IS DEFINED IN THE PROSPECTUS DIRECTIVE, OR

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NOTICE TO INVESTORS â&#x20AC;¢ WHERE GLX CLASS A COMMON EQUITY TOKENS HAVE BEEN ACQUIRED BY THE INVESTOR ON BEHALF OF PERSONS IN ANY RELEVANT MEMBER STATE OTHER THAN QUALIFIED INVESTORS, THE OFFER OF THOSE GLX CLASS A COMMON EQUITY TOKENS TO THE INVESTOR IS NOT TREATED UNDER THE PROSPECTUS DIRECTIVE AS HAVING BEEN MADE TO SUCH PERSONS. NOTICE TO RESIDENTS OF GIBRALTAR THIS OFFERING MEMORANDUM HAS NOT BEEN REGISTERED OR APPROVED FOR PUBLIC OFFERING BY THE GIBRALTAR FINANCIAL SERVICES COMMISSION. GLX CLASS A COMMON EQUITY TOKENS ARE BEING OFFERED TO A LIMITED NUMBER OF INVESTORS WHO QUALIFY FOR THE OFFERING. THIS OFFERING MEMORANDUM MAY BE DISTRIBUTED TO GIBRALTAR RESIDENTS ONLY IN A MANNER THAT WILL NOT CONSTITUTE AN OFFER TO THE PUBLIC UNDER THE APPLICABLE LAW. THIS MEMORANDUM MAY NOT BE REPRODUCED OR USED FOR ANY OTHER PURPOSE. ANY POTENTIAL INVESTOR WHO SUBSCRIBES TO GLX CLASS A COMMON EQUITY TOKENS IS SUBSCRIBING TO SUCH AN INTEREST FOR HIS OWN BENEFIT AND ACCOUNT AND NOT WITH THE AIM OR INTENTION OF DISTRIBUTING OR OFFERING SUCH AN INTEREST TO OTHER PARTIES. NOTICE TO RESIDENTS OF GUERNSEY GLX CLASS A COMMON EQUITY TOKENS ARE NOT OFFERED AND ARE NOT TO BE OFFERED TO THE PUBLIC IN THE BAILIWICK OF GUERNSEY. PERSONS RESIDENT IN GUERNSEY MAY ONLY APPLY FOR GLX CLASS A COMMON EQUITY TOKENS PURSUANT TO PRIVATE PLACEMENT ARRANGEMENTS. THIS OFFERING MEMORANDUM HAS NOT BEEN FILED WITH THE GUERNSEY FINANCIAL SERVICES COMMISSION PURSUANT TO ANY RELEVANT LEGISLATION AND NO AUTHORIZATIONS IN RESPECT OF THE PROTECTION OF INVESTORS (BAILIWICK OF GUERNSEY) LAW 1987 HAVE BEEN ISSUED BY THE GUERNSEY FINANCIAL SERVICES COMMISSION IN RESPECT OF IT. NOTICE TO THE RESIDENTS OF HONG KONG THIS OFFERING MEMORANDUM HAS NOT BEEN APPROVED BY OR REGISTERED WITH THE SECURITIES AND FUTURES COMMISSION OF HONG KONG, THE HONG KONG MONETARY AUTHORITY, OR THE REGISTRAR OF COMPANIES OF HONG KONG. THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER OR INVITATION TO THE PUBLIC IN HONG KONG TO ACQUIRE GLX CLASS A COMMON EQUITY TOKENS. NO PERSON MAY ISSUE, OR HAVE IN ITS POSSESSION FOR THE PURPOSES OF ISSUE, WHETHER IN HONG KONG OR ELSEWHERE, ANY ADVERTISEMENT, INVITATION OR DOCUMENT RELATING TO GLX CLASS A COMMON EQUITY TOKENS, WHICH IS DIRECTED AT, OR THE CONTENTS OF WHICH ARE LIKELY TO BE ACCESSED OR READ BY, THE PUBLIC IN HONG KONG (EXCEPT IF PERMITTED TO DO SO UNDER THE SECURITIES LAWS OF HONG KONG) OTHER THAN WITH RESPECT TO GLX CLASS A COMMON EQUITY TOKENS WHICH ARE OR ARE INTENDED TO BE DISPOSED OF ONLY TO PERSONS OUTSIDE HONG KONG OR ONLY TO SUCH PERSONS AS PERMITTED UNDER THE SECURITIES AND FUTURES ORDINANCE OF HONG KONG AND ANY RULES MADE UNDER THAT ORDINANCE. NO PERSON TO WHOM A COPY OF THIS MEMORANDUM IS ISSUED MAY ISSUE, CIRCULATE, OR DISTRIBUTE THIS MEMORANDUM IN HONG KONG OR MAKE OR GIVE A COPY OF THIS MEMORANDUM TO ANY OTHER

118

Offering Memorandum

NOTICE TO INVESTORS PERSON. THE INVESTOR IS ADVISED TO EXERCISE CAUTION IN RELATION TO THE OFFER. IF THE INVESTOR IS IN ANY DOUBT ABOUT ANY OF THE CONTENTS OF THIS MEMORANDUM, IT SHOULD OBTAIN INDEPENDENT PROFESSIONAL ADVICE. NOTICE TO RESIDENTS OF INDIA THIS DOCUMENT IS NOT AND SHOULD NOT BE CONSTRUED AS A PROSPECTUS OR A PUBLIC OFFERING IN INDIA AND HAS NOT BE REGISTERED WITH, OR APPROVED BY, THE SECURITIES AND EXCHANGE BOARD OF INDIA OR THE RESERVE BANK OF INDIA OR ANY OTHER REGULATORY AUTHORITIES IN INDIA. INVETORS MUST SEEK LEGAL ADVICE AS TO WHETHER THEY ARE ENTITLED TO SUBSCRIBE TO GLX CLASS A COMMON EQUITY TOKENS AND MUST COMPLY WITH ALL RELEVANT INDIAN LAWS IN THIS RESPECT. NOTICE TO RESIDENTS OF ISRAEL THIS OFFERING MEMORANDUM HAS NOT BEEN APPROVED FOR PUBLIC OFFERING BY THE ISRAELI SECURITIES AUTHORITY. GLX CLASS A COMMON EQUITY TOKENS ARE BEING OFFERED TO A LIMITED NUMBER OF INVESTORS WHO QUALIFY FOR THE OFFERING. THIS OFFERING MEMORANDUM MAY BE DISTRIBUTED TO ISRAELI RESIDENTS ONLY IN A MANNER THAT WILL NOT CONSTITUTE AN “OFFER TO THE PUBLIC” IN ACCORDANCE WITH SECTIONS 15 AND 15A OF THE SECURITIES LAW 1968 AND REGULATIONS PURSUANT THERETO. THIS MEMORANDUM MAY NOT BE REPRODUCED OR USED FOR ANY OTHER PURPOSE. ANY QUALIFIED INVESTOR AS DEFINED UNDER THE ISRAEL SECURITIES LAW WHO SUBSCRIBES TO GLX CLASS A COMMON EQUITY TOKENS IS SUBSCRIBING TO SUCH AN INTEREST FOR HIS OWN BENEFIT AND ACCOUNT AND NOT WITH THE AIM OR INTENTION OF DISTRIBUTING OR OFFERING SUCH AN INTEREST TO OTHER PARTIES. NOTICE TO RESIDENTS OF JAPAN NEITHER GLX CLASS A COMMON EQUITY TOKENS DESCRIBED IN THIS OFFERING MEMORANDUM NOR THE OFFERING THEREOF HAS BEEN DISCLOSED PURSUANT TO THE SECURITIES EXCHANGE LAW OF JAPAN (LAW NO.25 OF 1948 AS AMENDED). THE PURCHASER OF GLX CLASS A COMMON EQUITY TOKENS AGREES NOT TO RE-TRANSFER OR RE-ASSIGN SUCH INTEREST TO ANYONE OTHER THAN NON-RESIDENTS OF JAPAN EXCEPT PURSUANT TO A PRIVATE PLACEMENT EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF, AND OTHERWISE IN COMPLIANCE WITH, THE SECURITIES EXCHANGE LAW AND OTHER RELEVANT LAWS AND REGULATIONS OF JAPAN (EXCEPT FOR RETRANSFER OR RE-ASSIGNMENT TO ONE PERSON BY ONE TRANSACTION OF ALL SUCH INTEREST PURCHASED BY SUCH PURCHASER). GLX CLASS A COMMON EQUITY TOKENS ARE BEING OFFERED TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL INVESTORS (TEKIKAKU KIKAN TOSHIKA, AS DEFINED IN THE SECURITIES EXCHANGE LAW OF JAPAN) AND/OR A SMALL NUMBER OF INVESTORS, IN ALL CASES UNDER CIRCUMSTANCES THAT WILL FALL WITHIN THE PRIVATE PLACEMENT EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES EXCHANGE LAW AND OTHER RELEVANT LAWS AND REGULATIONS OF JAPAN. AS SUCH, GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN REGISTERED AND WILL NOT BE REGISTERED UNDER THE SECURITIES

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NOTICE TO INVESTORS EXCHANGE LAW OF JAPAN. THIS OFFERING MEMORANDUM IS CONFIDENTIAL AND IS INTENDED SOLELY FOR THE USE OF ITS RECIPIENT. ANY DUPLICATION OR REDISTRIBUTION OF THIS OFFERING MEMORANDUM IS PROHIBITED. THE RECIPIENT OF THIS OFFERING MEMORANDUM, BY ACCEPTING DELIVERY THEREOF, AGREES TO RETURN IT AND ALL RELATED DOCUMENTS TO THE COMPANY IF THE RECIPIENT ELECTS NOT TO PURCHASE ANY OF GLX CLASS A COMMON EQUITY TOKENS OFFERED HEREBY OR IF EARLIER REQUESTED BY THE COMPANY. THERE IS A RISK THAT THE CUSTOMER MAY LOSE THE PRINCIPAL AMOUNT HE OR SHE WILL INVEST AS A RESULT OF FLUCTUATIONS IN THE NET ASSET VALUE OF GLX CLASS A COMMON EQUITY TOKENS DUE TO CHANGES IN THE PRICES OF SECURITIES OR OTHER FINANCIAL PRODUCTS HELD BY THE COMPANY, CHANGES IN FOREIGN EXCHANGE RATES, AND OTHER FACTORS, IF ANY. NOTICE TO RESIDENTS OF JERSEY THE CONSENT OF THE JERSEY FINANCIAL SERVICES COMMISSION HAS NOT BEEN SOUGHT NOR GRANTED TO THE CIRCULATION IN JERSEY OF AN OFFER OF GLX CLASS A COMMON EQUITY TOKENS PURSUANT TO ARTICLE 10 OF THE CONTROL OF BORROWING (JERSEY) ORDER 1958, AS AMENDED, AND, ACCORDINGLY, GLX CLASS A COMMON EQUITY TOKENS MAY NOT BE OFFERED IN JERSEY. NOTICE TO RESIDENTS OF KUWAIT THIS OFFERING MEMORANDUM AND ANY OTHER OFFERING MATERIALS AND THE GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN APPROVED OR LICENSED BY THE MINISTRY OF COMMERCE AND INDUSTRY OF THE STATE OF KUWAIT OR ANY OTHER RELEVANT KUWAITI GOVERNMENTAL AGENCY. NOTHING HEREIN CONSTITUTES, NOR SHALL BE DEEMED TO CONSTITUTE, AN INVITATION OR AN OFFER TO SELL GLX CLASS A COMMON EQUITY TOKENS IN KUWAIT NOR IS IT INTENDED TO LEAD TO THE CONCLUSION OF ANY CONTRACT OF WHATSOEVER NATURE WITHIN KUWAIT. THE OFFERING OF GLX CLASS A COMMON EQUITY TOKENS IN KUWAIT ON THE BASIS OF A PRIVATE PLACEMENT OR PUBLIC OFFERING MAY BE RESTRICTED IN ACCORDANCE WITH DECREE LAW NO. 31 OF 1990, AS AMENDED, ENTITLED “REGULATING SECURITIES OFFERINGS AND SALES” AND MINISTERIAL ORDER NO. 113 OF 1992, AS AMENDED AND ANY IMPLEMENTING REGULATIONS AND OTHER APPLICABLE LAWS AND REGULATIONS IN KUWAIT. NOTICE TO RESIDENTS OF MEXICO THE GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES DIVISION OF THE NEW MEXICO DEPARTMENT OF BANKING NOR HAS THE SECURITIES DIVISION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS OFFERING MEMORANDUM AND HAS NOT BEEN REGISTERED WITH THE NATIONAL REGISTRY OF SECURITIES OF MEXICO AND NO AUTHORIZATION HAS BEEN RECEIVED FROM THE NATIONAL BANKING AND SECURITIES COMMISSION. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS OFFERING IS MADE ONLY TO QUALIFIED INVESTORS AS DEFINED UNDER THE MEXICO SECURITIES MARKET LAW. NOTICE TO RESIDENTS OF NEW ZEALAND

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NOTICE TO INVESTORS

THE COMPANY WILL ONLY SEEK TO PLACE GLX CLASS A COMMON EQUITY TOKENS WITH PERSONS WHO AGREE TO REPRESENT THEY ARE INVESTORS: (I) WHOSE PRINCIPAL PURPOSE IS THE INVESTMENT OF MONEY OR WHO IN THE COURSE OF AND FOR THE PURPOSE OF THEIR BUSINESS HABITUALLY INVEST MONEY; OR (II) WHO WILL BE REQUIRED TO PAY A MINIMUM OF NZ $500,000 FOR THE GLX CLASS A COMMON EQUITY TOKENS, SUCH THAT A REGISTERED PROSPECTUS IS NOT REQUIRED FOR THE OFFER OF GLX CLASS A COMMON EQUITY TOKENS UNDER THE NEW ZEALAND SECURITIES ACT 1978. NOTICE TO RESIDENTS OF NORWAY THE GLX CLASS A COMMON EQUITY TOKENS MAY NOT BE OFFERED, SOLD OR DISTRIBUTED IN THE KINGDOM OF NORWAY, EXCEPT IN ACCORDANCE WITH THE NORWEGIAN SECURITIES TRADING ACT OF 19 JUNE, 1997, AS AMENDED, AND ALL APPLICABLE REGULATIONS. THE GLX CLASS A COMMON EQUITY TOKENS MAY NOT BE OFFERED, SOLD OR DISTRIBUTED IN NORWAY EXCEPT IN CIRCUMSTANCES WHICH DO NOT CONSTITUTE A PUBLIC OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN NORWAY WITHIN THE MEANING OF NORWEGIAN SECURITIES LAWS AND REGULATIONS. NEITHER THE GLX CLASS A COMMON EQUITY TOKENS NOR THIS OFFERING MEMORANDUM HAS BEEN APPROVED AND REGISTERED BY THE NORWEGIAN STOCK EXCHANGE OR REGISTERED WITH THE NORWEGIAN REGISTER OF BUSINESS ENTERPRISES. NOTICE TO RESIDENTS OF OMAN THIS OFFERING MEMORANDUM DOES NOT CONSTITUTE A PUBLIC OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN THE SULTANATE OF OMAN, AS CONTEMPLATED BY THE COMMERCIAL COMPANIES LAW OF OMAN (ROYAL DECREE NO. 4/74) OR THE CAPITAL MARKET LAW OF OMAN (ROYAL DECREE NO. 80/98) AND MINISTERIAL DECISION NO.1/2009 OR AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY NON-OMANI SECURITIES IN THE SULTANATE OF OMAN. IT IS BEING DRAFTED FOR A LIMITED NUMBER OF SOPHISTICATED INVESTORS SOLELY TO ENABLE THEM TO DECIDE WHETHER OR NOT TO MAKE AN OFFER TO ENTER INTO COMMITMENTS TO INVEST IN GLX CLASS A COMMON EQUITY TOKENS UPON THE TERMS AND SUBJECT TO THE RESTRICTIONS SET OUT HEREIN AND MAY NOT BE REPRODUCED OR USED FOR ANY OTHER PURPOSE OR PROVIDED TO ANY PERSON OTHER THAN THE ORIGINAL RECIPIENT. ADDITIONALLY, THIS OFFERING MEMORANDUM IS NOT INTENDED TO LEAD TO THE MAKING OF ANY CONTRACT WITHIN THE TERRITORY OF THE SULTANATE OF OMAN. THE CAPITAL MARKET AUTHORITY AND THE CENTRAL BANK OF OMAN TAKE NO RESPONSIBILITY FOR THE ACCURACY OF THE STATEMENTS AND INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM OR FOR THE PERFORMANCE OF THE COMPANY NOR SHALL THEY HAVE ANY LIABILITY TO ANY PERSON FOR DAMAGE OR LOSS RESULTING FROM RELIANCE ON ANY STATEMENT OR INFORMATION CONTAINED HEREIN.

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NOTICE TO RESIDENTS OF QATAR THIS DOCUMENT (OR ANY PART THEREOF) SHALL IN NO WAY BE CONSTRUED AS A GENERAL OFFER, MADE TO THE PUBLIC, OR AN ATTEMPT TO DO BUSINESS, AS A BANK, INVESTMENT FUND OR OTHERWISE IN THE STATE OF QATAR. THIS DOCUMENT, INCLUDING MATERIALS AND GLX CLASS A COMMON EQUITY TOKENS CONTAINED HEREIN, HAS NOT BEEN APPROVED OR LICENSED BY THE QATARI CENTRAL BANK OR ANY OTHER RELEVANT LICENSING AUTHORITIES IN THE STATE OF QATAR, AND DOES NOT CONSTITUTE A PUBLIC OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN THE STATE OF QATAR UNDER QATARI LAW. ANY DISTRIBUTION OF THIS OFFERING MEMORANDUM BY THE INTENDED RECIPIENT TO THIRD PARTIES IN THE STATE OF QATAR IN CONTRAVENTION OF THE TERMS HEREOF SHALL BE AT THE SOLE RISK AND LIABILITY OF SUCH RECIPIENT. NOTICE TO RESIDENTS OF RUSSIA THIS OFFERING MEMORANDUM IS NOT, AND UNDER NO CIRCUMSTANCES IS TO BE CONSTRUED AS, A PUBLIC OFFERING OF GLX CLASS A COMMON EQUITY TOKENS IN RUSSIA. THE COMPANY DOES NOT MAKE ANY REPRESENTATION WITH RESPECT TO THE ELIGIBILITY OF ANY THIS OFFERING MEMORANDUM DOES NOT CONSTITUTE A PUBLIC OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN THE SULTANATE OF OMAN, AS CONTEMPLATED BY THE COMMERCIAL COMPANIES LAW OF OMAN (ROYAL DECREE NO. 4/74) OR THE CAPITAL MARKET LAW OF OMAN (ROYAL DECREE NO. 80/98) AND MINISTERIAL DECISION NO.1/2009 OR AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY NON-OMANI SECURITIES IN THE SULTANATE OF OMAN. NOTICE TO RESIDENTS OF SAUDI ARABIA THIS OFFERING MEMORANDUM MAY NOT BE DISTRIBUTED IN THE KINGDOM OF SAUDI ARABIA EXCEPT TO SUCH PERSONS AS ARE PERMITTED UNDER THE OFFER OF SECURITIES REGULATIONS ISSUED BY THE CAPITAL MARKET AUTHORITY. THE CAPITAL MARKET AUTHORITY IN SAUDI ARABIA DOES NOT MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF THIS OFFERING MEMORANDUM, AND EXPRESSLY DISCLAIMS ANY LIABILITY WHATSOEVER FOR ANY LOSS ARISING FROM, OR INCURRED IN RELIANCE UPON, ANY PART OF THIS OFFERING MEMORANDUM. PROSPECTIVE PURCHASERS OF GLX CLASS A COMMON EQUITY TOKENS BEING OFFERED HEREBY SHOULD CONDUCT THEIR OWN DUE DILIGENCE ON THE ACCURACY OF THE INFORMATION RELATING TO THE COMPANY. IF YOU DO NOT UNDERSTAND THE CONTENTS OF THIS OFFERING MEMORANDUM YOU SHOULD CONSULT AUTHORIZED FINANCIAL AND LEGAL ADVISERS. NOTICE TO RESIDENTS OF SINGAPORE

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NOTICE TO INVESTORS THIS OFFERING MEMORANDUM IS NOT A PROSPECTUS AS DEFINED IN THE SFA, AND ACCORDINGLY, STATUTORY LIABILITY UNDER THE SFA IN RELATION TO THE CONTENT OF THIS OFFERING MEMORANDUM WILL NOT APPLY. THE OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN SINGAPORE IS BEING MADE IN RELIANCE ON THE EXEMPTION UNDER SECTION 302B(1) OF THE SFA. IT IS NOT MADE IN, OR ACCOMPANIED BY, A PROSPECTUS THAT IS REGISTERED WITH THE MONETARY AUTHORITY OF SINGAPORE, AND NEITHER THE COMPANY NOR THE GLX CLASS A COMMON EQUITY TOKENS HOLDERS ARE AUTHORIZED OR RECOGNIZED BY THE MONETARY AUTHORITY OF SINGAPORE AS A COLLECTIVE INVESTMENT SCHEME. THE GLX CLASS A COMMON EQUITY TOKENS OFFERED HEREIN SHALL NOT BE SUBSEQUENTLY SOLD TO ANY PERSON PURSUANT TO ANOTHER OFFER IN SINGAPORE UNLESS THE PROVISIONS OF THE SFA ARE COMPLIED WITH. BY ACCEPTING THIS OFFERING MEMORANDUM, YOU REPRESENT AND WARRANT THAT YOU ARE ENTITLED TO RECEIVE IT IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH ABOVE AND AGREE TO BE BOUND BY THE LIMITATIONS CONTAINED HEREIN. YOU MAY NOT REPRODUCE, DISCLOSE, DISTRIBUTE, FORWARD, OR CIRCULATE THIS OFFERING MEMORANDUM (IN WHOLE OR IN PART) TO ANY OTHER PERSON IN SINGAPORE. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS OR LIMITATIONS MAY CONSTITUTE A VIOLATION OF LAW. NOTICE TO RESIDENTS OF SOUTH AFRICA GLX CLASS A COMMON EQUITY TOKENS OFFERED HEREIN ARE FOR YOUR ACCEPTANCE ONLY AND MAY NOT BE OFFERED OR BECOME AVAILABLE TO PERSONS OTHER THAN YOURSELF AND MAY NOT BE PUBLICLY OFFERED, SOLD, OR ADVERTISED IN SOUTH AFRICA, AND THIS OFFERING MEMORANDUM MAY ONLY BE CIRCULATED TO SELECTED INDIVIDUALS. NOTICE TO RESIDENTS OF SOUTH KOREA GLX CLASS A COMMON EQUITY TOKENS WILL NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY IN SOUTH KOREA. THIS OFFERING MEMORANDUM IS NOT, AND UNDER NO CIRCUMSTANCES IS TO BE CONSTRUED AS, A PUBLIC OR PRIVATE OFFERING OF GLX CLASS A COMMON EQUITY TOKENS IN SOUTH KOREA. THE COMPANY DOES NOT MAKE ANY REPRESENTATION WITH RESPECT TO THE ELIGIBILITY OF ANY RECIPIENTS OF THIS OFFERING MEMORANDUM TO ACQUIRE GLX CLASS A COMMON EQUITY TOKENS UNDER THE LAWS OF SOUTH KOREA, INCLUDING, WITHOUT LIMITATION, INDIRECT INVESTMENT ASSET MANAGEMENT BUSINESS LAW, THE SECURITIES AND EXCHANGE ACT AND THE FOREIGN EXCHANGE TRANSACTION ACT AND REGULATIONS THEREUNDER. GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES AND EXCHANGE ACT, SECURITIES INVESTMENT TRUST BUSINESS ACT, OR THE SECURITIES INVESTMENT FUND ACT OF SOUTH KOREA AND NONE OF GLX CLASS A COMMON EQUITY TOKENS MAY BE OFFERED, SOLD OR DELIVERED, DIRECTLY OR INDIRECTLY, OR OFFERED OR SOLD TO ANY PERSON FOR RE-OFFERING OR RE-SALE, DIRECTLY OR INDIRECTLY, IN SOUTH KOREA OR TO ANY RESIDENT OF SOUTH KOREA, EXCEPT PURSUANT TO THE APPLICABLE LAWS AND REGULATIONS OF SOUTH KOREA.

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NOTICE TO RESIDENTS OF SWITZERLAND THIS OFFERING MEMORANDUM, AS WELL AS ANY OTHER MATERIAL RELATING TO THE GLX CLASS A COMMON EQUITY TOKENS WHICH ARE THE SUBJECT OF THE OFFERING CONTEMPLATED BY THIS OFFERING MEMORANDUM, DOES NOT CONSTITUTE AN ISSUANCE OF A PROSPECTUS PURSUANT TO ARTICLES 652A OF THE SWISS CODE OF OBLIGATIONS. NEITHER THIS DOCUMENT NOR ANY OTHER OFFERING OR MARKETING MATERIAL RELATING TO THE OFFERING, THE COMPANY, OR THE GLX CLASS A COMMON EQUITY TOKENS HAVE BEEN OR WILL BE FILED WITH OR APPROVED BY ANY SWISS REGULATORY AUTHORITY. THIS OFFERING MEMORANDUM WILL NOT BE FILED WITH, AND THE OFFER OF GLX CLASS A COMMON EQUITY TOKENS WILL NOT BE SUPERVISED BY, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY. THE GLX CLASS A COMMON EQUITY TOKENS WILL NOT BE LISTED ON ANY SWISS EXCHANGE AND, THEREFORE, THE DOCUMENTS RELATING TO THE GLX CLASS A COMMON EQUITY TOKENS, INCLUDING, BUT NOT LIMITED TO, THIS OFFERING MEMORANDUM, DO NOT CLAIM TO COMPLY WITH THE DISCLOSURE STANDARDS OF THE ISSUANCE RULES OF THE SWISS CODE OF OBLIGATIONS AND LISTING RULES OF THE ANY SWISS EXCHANGE. THE GLX CLASS A COMMON EQUITY TOKENS ARE BEING OFFERED IN SWITZERLAND BY WAY OF A PRIVATE PLACEMENT, I.E., TO A SMALL NUMBER OF SELECTED INVESTORS ONLY, WITHOUT ANY PUBLIC OFFER AND ONLY TO INVESTORS WHO DO NOT PURCHASE THE TOKENS WITH THE INTENTION TO DISTRIBUTE THEM TO THE PUBLIC. NOTICE TO RESIDENTS OF TAIWAN THE OFFER OF GLX CLASS A COMMON EQUITY TOKENS HAS NOT BEEN AND WILL NOT BE REGISTERED WITH THE FINANCIAL SUPERVISORY COMMISSION OF TAIWAN PURSUANT TO RELEVANT SECURITIES LAWS AND REGULATIONS OF TAIWAN AND WILL NOT BE OFFERED OR SOLD WITHIN TAIWAN THROUGH A PUBLIC OFFERING OR IN CIRCUMSTANCES WHICH CONSTITUTE A PUBLIC OFFER WITHIN THE MEANING OF THE SECURITIES AND EXCHANGE LAW OF TAIWAN THAT REQUIRES A REGISTRATION OR APPROVAL OF THE FINANCIAL SUPERVISORY COMMISSION OF TAIWAN. NO PERSON OR ENTITY IN TAIWAN HAS BEEN AUTHORIZED TO OFFER OR SELL GLX CLASS A COMMON EQUITY TOKENS IN TAIWAN. THE OFFER OF GLX CLASS A COMMON EQUITY TOKENS HAS NOT BEEN AND WILL NOT BE REGISTERED WITH THE FINANCIAL SUPERVISORY COMMISSION OF TAIWAN PURSUANT TO RELEVANT SECURITIES LAWS AND REGULATIONS OF TAIWAN AND WILL NOT BE OFFERED OR SOLD WITHIN TAIWAN THROUGH A PUBLIC OFFERING OR IN CIRCUMSTANCES WHICH CONSTITUTE A PUBLIC OFFER WITHIN THE MEANING OF THE SECURITIES AND EXCHANGE LAW OF TAIWAN THAT REQUIRES A REGISTRATION OR APPROVAL OF THE FINANCIAL SUPERVISORY COMMISSION OF TAIWAN. NO PERSON OR ENTITY IN TAIWAN HAS BEEN AUTHORIZED TO OFFER OR SELL GLX CLASS A COMMON EQUITY TOKENS IN TAIWAN. NOTICE TO RESIDENTS OF THE UNITED ARAB EMIRATES

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NOTICE TO INVESTORS THIS OFFERING MEMORANDUM DOES NOT, AND IS NOT INTENDED TO, CONSTITUTE AN INVITATION OR A PUBLIC OFFER OF GLX CLASS A COMMON EQUITY TOKENS IN THE UNITED ARAB EMIRATES (INCLUDING THE DUBAI INTERNATIONAL FINANCIAL CENTRE) AND, ACCORDINGLY, SHOULD NOT BE CONSTRUED AS SUCH. THIS OFFERING MEMORANDUM AND GLX CLASS A COMMON EQUITY TOKENS HAVE NOT BEEN APPROVED OR LICENSED BY OR REGISTERED UNDER FEDERAL LAW NO. 4 OF 2000 CONCERNING THE EMIRATES SECURITIES AND COMMODITIES AUTHORITY AND THE EMIRATES SECURITY AND COMMODITY EXCHANGE, OR WITH THE UNITED ARAB EMIRATES CENTRAL BANK, THE DUBAI FINANCIAL SERVICES AUTHORITY OR ANY OTHER RELEVANT LICENSING AUTHORITIES OR GOVERNMENTAL AGENCIES IN THE UNITED ARAB EMIRATES. NOTICE TO RESIDENTS OF THE UNITED KINGDOM THE CONTENT OF THIS PROMOTION HAS NOT BEEN APPROVED BY AN AUTHORIZED PERSON WITHIN THE MEANING OF THE FINANCIAL SERVICES AND MARKETS ACT 2000. RELIANCE ON THIS PROMOTION FOR THE PURPOSE OF ENGAGING IN ANY INVESTMENT ACTIVITY MAY EXPOSE AN INDIVIDUAL TO A SIGNIFICANT RISK OF LOSING ALL OF THE PROPERTY OR OTHER ASSETS INVESTED. THIS OFFERING MEMORANDUM MAY NOT BE USED FOR, OR IN CONNECTION WITH, AND DOES NOT CONSTITUTE, ANY OFFER TO, OR SOLICITATION BY, ANYONE IN ANY JURISDICTION, OR UNDER ANY CIRCUMSTANCE IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED OR IS UNLAWFUL. IN PARTICULAR, THIS OFFERING MEMORANDUM DOES NOT CONSTITUTE AN OFFER OF NOTES TO THE PUBLIC IN THE UNITED KINGDOM. NO OFFERING MEMORANDUM HAS BEEN APPROVED OR WILL BE APPROVED BY ANY GOVERNMENTAL OR REGULATORY AUTHORITY IN THE UNITED KINGDOM. THIS OFFERING MEMORANDUM IS DIRECTED ONLY AT QUALIFIED INVESTORS: (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE “ORDER”); (II) WHO FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER; AND (III) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THIS DOCUMENT MUST NOT BE ACTED ON OR RELIED ON (I) IN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT RELEVANT PERSONS, AND (II) IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OTHER THAN THE UNITED KINGDOM, BY PERSONS WHO ARE NOT QUALIFIED INVESTORS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS DOCUMENT RELATES IS AVAILABLE ONLY TO (I) IN THE UNITED KINGDOM TO RELEVANT PERSONS, QUALIFIED INVESTORS, AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS. THIS DOCUMENT AND ITS CONTENTS SHOULD NOT BE DISTRIBUTED, PUBLISHED OR REPRODUCED (IN WHOLE OR IN PART) OR DISCLOSED BY RECIPIENTS TO ANY OTHER PERSON.

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SA FE H ARBO R Copyright© 2015-2019 GLX, Inc. (herein “GLX”, “GLX.com”, “GLX.org” or the “Company”). All rights reserved. This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company’s future results of operations and financial position, including the scalability and growth of our business, our long term target model, financial targets, business strategy, plans and objectives for future operations are forward-looking statements. The Company has based these forwardlooking statements largely on its estimates of its financial results and its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, financial needs and market conditions as of the date of this presentation. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” in this Offering Memorandum filed with the U.S. Securities and Exchange Commission. Moreover, the Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for Company management to predict all risks, nor can the Company assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this presentation, to confirm these statements to actual results or to changes in the Company¹s expectations. G L X I S C O M M I T T E D T O T H E H I G H E S T STA N D A R D S O F C O R P O R AT E G OV E R N A N C E A N D S O C I A L R E S P O N S I B I L I T Y.

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DRAFT BUSINESS PLAN

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30 N Gould St, Ste R Sheridan, WY 82801 United States of America

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PA L M B E A C H • S H E R I D A N • M E D E L L Í N • P O C K I N G

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OFFERING MEMORANDUM MARCH 2019

CopyrightÂŠ 2015-2019 GLX, Inc. All rights reserved. The information in this document is the property of GLX, Inc. Reproduction or transcription by any means, in whole or in part, without the prior written consent of GLX, Inc., is prohibited.