Form 8-K

8-K — XMax Inc.

Accession: 0001493152-26-016970

Filed: 2026-04-16

Period: 2026-04-13

CIK: 0001473334

SIC: 2510 (HOUSEHOLD FURNITURE)

Item: Entry into a Material Definitive Agreement

Item: Unregistered Sales of Equity Securities

Item: Financial Statements and Exhibits

Documents

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date

of Report (Date of earliest event reported): April 13, 2026

XMAX

Inc.

(Exact

name of registrant as specified in its charter)

Nevada

001-36259

90-0746568

(State

or Other Jurisdiction

(Commission

(I.R.S.

Employer

Incorporation)

File

Number)

Identification

No.)

6565

E. Washington Blvd., Commerce, CA 90040

(Address

of Principal Executive Office) (Zip Code)

(323)

888-9999

(Registrant’s

telephone number, including area code)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange on which registered

Common

Stock, par value $0.001 per share

XWIN

Nasdaq

Stock Market

Item

1.01 Entry into a Material Definitive Agreement

On April 13, 2026, XMax

Inc. (the “Company”) entered into Securities Purchase Agreements

(the “Agreements”) with twenty two non-U.S.

person investors, namely Chen Yingjie, Fang Chongyi, Jiang Yan, Ma Ying, Ren Guangfei, Ren

Tao, Shen Xiaoyan, Song Rongrong, Tan Kaichang, Tang Min, Wang Haifeng, Wang Jinhua, Wang Li, Wang Zecui, Wei Huifen, Yao Jing, Yu Suying,

Zeng Qingyu, Zhang Bingli, Zhang Ciqiang, Zhao Xianxian and Zhao Zheyao (the “Purchasers”),

pursuant to which the Company agreed to sell to the Purchasers in a private placement for a total of 462,500 shares (the “Shares”)

of the Company’s common stock, par value $0.001 per share (the “Common Stock”),

at a purchase price of $6.705 per share for an aggregate offering price of $3,101,062.50 (the “Private

Placement”). The Private Placement will be completed pursuant to the exemption from registration provided by Regulation

S promulgated under the Securities Act of 1933, as amended.

The form of the Agreements

is filed as Exhibits 10.1 to this Current Report on Form 8-K. The foregoing summary of the terms of the Agreement is subject to, and

qualified in its entirety by the Agreements, the form of which is incorporated herein by reference.

Item

3.02 Unregistered Sales of Equity Securities

Please

see the disclosure set forth under Item 1.01, which is incorporated by reference into this Item 3.02.

Item

9.01 Financial Statements and Exhibits

(d)

Exhibits

Exhibit

No.

Exhibit

Title or Description

10.1

Form of Securities Purchase Agreements by and between the Company and Purchasers dated April 13, 2026.

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by

the undersigned, hereunto duly authorized.

XMax

Inc.

/s/

Xiaohua Lu

Xiaohua

Chief

Executive Officer

April

16, 2026

EX-10.1

Filename: ex10-1.htm · Sequence: 2

Exhibit 10.1

SECURITIES PURCHASE AGREEMENT

This

Securities Purchase Agreement (this “Agreement”) is dated as of April 13th, 2026 (the “Effective Date”)

by and between XMax Inc., a Nevada corporation (the “Company”), and the purchaser identified on the signature page

hereto (the “Purchaser”).

RECITALS

WHEREAS,

subject to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements of Section

5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulations S thereunder, the Company desires to issue and sell to

the Purchaser, and the Purchaser desires to purchase from the Company, certain securities of the Company as more fully described in this

Agreement.

NOW,

THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the

receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:

ARTICLE I.

DEFINITIONS

1.1 Definitions.

In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section

1.1:

“Affiliate”

means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control

with a Person as such terms are used in, and construed, under Rule 405 under the Securities Act.

“Board

of Directors” means the board of directors of the Company.

“Business

Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day

on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

“Closing”

means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

“Closing

Date” means the day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto,

and all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligations

to deliver the Shares, in each case, have been satisfied or waived.

“Commission”

means the United States Securities and Exchange Commission.

Page 2

“Exchange

Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Exchange

Rules” shall mean the listing rules of The Nasdaq Stock Market.

“Liens”

means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other

restriction.

“Common

Stock” means the shares of common stock of the Company, par value $0.001 per share, and any other class of securities into

which such securities may hereafter be reclassified or changed.

“Per

Share Purchase Price” equals $6.705 per share of Common Stock, subject to adjustment for reverse and forward stock splits,

stock combinations and other similar transactions of the Common Stock that may occur after the date of this Agreement.

“Person”

means an individual, corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,

joint stock company, government (or an agency or subdivision thereof), or other entity of any kind.

“Required

Approvals” shall have the meaning ascribed to such term in Section 3.1(c).

“Rule

144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted

from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect

as such Rule.

“SEC

Reports” shall have the meaning ascribed to such term in Section 3.1(f).

“Securities

Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Securities

Laws” means, collectively, the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”), the Securities

Act, the Exchange Act, the Rules and Regulations, the auditing principles, rules, standards and practices applicable to auditors of “issuers”

(as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board, the Exchange Rules and applicable

state securities laws and regulations.

“Shares”

means the shares of Common Stock issued or issuable to the Purchaser pursuant to this Agreement.

“Short

Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be

deemed to include the location and/or reservation of borrowable shares of Common Stock).

Page 3

“Subscription

Amount” means, as to the Purchaser, the aggregate amount to be paid for Shares purchased hereunder as specified below the Purchaser’s

name on the signature page of this Agreement and next to the heading “Subscription Amount,” in United States dollars and

in immediately available funds.

“Subsidiary”

means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed

or acquired after the date hereof.

“Trading

Day” means a day on which the principal Trading Market is open for trading.

“Trading

Market” means any of the following markets or exchanges on which the Common Stock are listed or quoted for trading on the date

in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock

Exchange (or any successors to any of the foregoing).

“Transaction

Documents” means this Agreement, and any other documents or agreements executed between the Company and the Purchaser in connection

with the transactions contemplated hereunder.

“Transfer

Agent” means Equiniti Trust Company, LLC, the current transfer agent of the Company, and any successor transfer agent of the

Company.

ARTICLE

II.

PURCHASE AND SALE

2.1 Closing.

On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchaser

agrees to purchase, up to an aggregate of _____ shares of Common Stock of the Company at Per Share Purchase Price for a total of

$____. The Purchaser’s Subscription Amount, as set forth on the signature page hereto executed by the Purchaser, shall be

wired to and settled with the Company or its designees within 10 business days of this Agreement. Upon receiving the

Purchaser’s Subscription Amount and the delivery by the Purchaser of the other items set forth in Section 2.2, the Company

shall deliver the Shares to the Purchaser within 30 business days of this Agreement.

2.2 Deliveries.

(a)

On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser each of the

following:

(i) this Agreement duly executed by the Company;

(ii)

subject to the payment under Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer

Agent to deliver the Shares equal to the Purchaser’s Subscription Amount divided by the Per Share Purchase Price, in the name

of the Purchaser.

Page 4

(b)

On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company, as applicable, the

following:

(i) this Agreement duly executed by the Purchaser; and

(ii)

the Purchaser’s Subscription Amount by wire transfer to the bank account directed by the Company.

2.3 Closing Conditions.

(a)

The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being

met:

(i)

the accuracy when made and on the Closing Date of the representations and warranties of the Purchaser contained herein (unless as of

a specific date therein in which case they shall be accurate as of such date);

(ii)

all obligations, covenants and agreements of the Purchaser required to be performed at or prior to the Closing Date shall have been

performed; and

(iii)

the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement on or prior to the Closing Date.

(b)

The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being

met:

(i)

the accuracy when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a

specific date therein in which case they will be accurate as of such date);

(ii)

all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been

performed;

(iii)

the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement on or prior to the Closing Date;

and

(iv)

there shall have been no material adverse effect with respect to the Company since the date hereof.

Page 5

ARTICLE

III.

REPRESENTATIONS AND WARRANTIES

3.1 Representations

and Warranties of the Company. Except as indicated in the SEC Reports, the Company hereby represents and warrants to the

Purchaser as of the date of this Agreement and as of the Closing Date as follows:

(a) Organization

and Qualification. The Company and each of the Subsidiaries, if any, is an entity duly incorporated or otherwise organized and

validly existing under the laws of each jurisdiction in which it owns or leases properties or conducts any business so as to require

such qualification, with the requisite power and authority to own and use its properties and assets and to carry on its business as

currently conducted.

(b) Authorization;

Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions

contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and

thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the

consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part

of the Company and no further action is required by the Company, the Board of Directors or the Company’s shareholders, if

necessary, in connection herewith or therewith other than in connection with the Required Approvals (as defined below).

Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice

to, or make any filing or registration with, any governmental authority or any court or other federal, state, local or other

governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction

Documents or the offer, issue and sale of the Shares, other than: (i) the disclosure filing required for this Agreement and (ii)

application(s) to each applicable Trading Market for the listing of the Shares for trading thereon in the time and manner required

thereby (collectively, the “Required Approvals”).

(d) Authorization

of the Shares. The Shares to be sold by the Company and their issue and sale are duly authorized and, when issued and paid for

in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and free and clear of all Liens

imposed by the Company.

(e) Capitalization.

Except as may be described in the SEC Reports, all of the issued share capital of the Company has been duly and validly authorized

and issued, is fully paid and non-assessable.

(f) SEC

Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company

under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the

date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing

materials, including the exhibits thereto, documents incorporated by reference therein, being collectively referred to herein as the

“SEC Reports”).

Page 6

3.2 Representations

and Warranties of the Purchasers. The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date

to the Company as follows (unless as made of a specific date stated therein, in which case they shall be accurate as of such

date):

(a) Organization;

Authority. The Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing

under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability

company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents

and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and

performance by the Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all

necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of the Purchaser. Each

Transaction Document to which it is a party has been duly executed by the Purchaser, and when delivered by the Purchaser in

accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it

in accordance with its terms.

(b) Understandings

or Arrangements. The Purchaser is acquiring the Shares for its own account and has no direct or indirect arrangement or

understandings with any other persons to distribute or regarding the distribution of the Shares (this representation and warranty

not limiting the Purchaser’s right to sell the Shares in compliance with applicable federal and state securities laws). The

Purchaser is acquiring the Shares as principal, not as nominee or agent, and not with a view to or for distributing or reselling the

Shares or any part thereof in violation of the Securities Act or any applicable state securities law.

Investors. The Purchaser hereby represents that it has satisfied itself as to the full observance by the Purchaser of the laws

of its jurisdiction applicable to the Purchaser in connection with the purchase of the Shares or the execution and delivery by the

Purchaser of this Agreement and the Transaction Documents, including (i) the legal requirements within its jurisdiction for the

purchase of the Shares, (ii) any foreign exchange restrictions applicable to the purchase, (iii) any governmental or other consents

that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the

Purchaser’s purchase, holding, redemption, sale, or transfer of the Shares. The Purchaser’s subscription and payment

for, and continued beneficial ownership of, the Shares will not violate any securities or other laws of the Purchaser’s

jurisdiction applicable to the Purchaser.

(d) Experience

of the Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and

experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in

the Shares, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an

investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

Page 7

(e) Access

to Information. The Purchaser acknowledges that it has had the opportunity to review the Transaction Documents and the SEC

Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from,

representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of

investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations, business,

properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such

additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an

informed investment decision with respect to the investment.

(f) Regulation

S. The Purchaser is a non-U.S. person (as such term is defined in Rule 902 of Regulation S under the Securities Act) and is not

acquiring the Shares for the account or benefit of a U.S. person. The Purchaser will not, within eighteen (18) months of the date of

the transfer of the Shares to the Purchaser, (i) make any offers or sales of the Shares in the United States or to, or for the

benefit of, a U.S. person (in each case, as defined in Regulation S) , or (ii) engage in hedging transactions with regard to the

Shares. Neither the Purchaser nor any of the Purchaser’s Affiliates or any person acting on his/her/its or their behalf has

engaged or will engage in directed selling efforts (within the meaning of Regulation S) with respect to the Shares, and all such

persons have complied and will comply with the offering restriction requirements of Regulation S in connection with the offering of

the Shares outside of the United States. The Purchaser further makes the representations and warranties to the Company set forth on Exhibit

(g) Certain

Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, the Purchaser has not, nor

has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any

purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that the

Purchaser first discussed the transaction with the Company or any other Person representing the Company setting forth the material

terms of the transactions contemplated hereunder and ending on the date when this Agreement is publicly disclosed by the Company.

The Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the

existence and terms of this transaction).

(h) Purchaser Status. At the time the Purchaser was offered the Shares, it was, and as of the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.

(i) No

Registration. The Purchaser understands that the Shares have not been, and will not be, registered under the Securities Act or

applicable securities laws of any state or country and therefore the Shares cannot be sold, pledged, assigned or otherwise disposed

of unless they are subsequently registered under the Securities Act and applicable state securities laws or exemptions from such

registration requirements are available. The Company shall be under no obligation to register the Shares under the Securities Act

and applicable state securities laws, and any such registration shall be in the Company’s sole discretion.

(j) No

General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other

communication regarding the Shares published in any newspaper, magazine, website or similar media or broadcast over television or

radio or presented at any seminar or any other general solicitation or general advertisement.

Page 8

ARTICLE

IV.

OTHER

AGREEMENTS OF THE PARTIES

4.1 Reservation

of Securities. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at

all times, free of preemptive rights, a sufficient number of shares of Common Stock for issuance pursuant to the Transaction

Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents.

4.2 Certain

Transactions and Confidentiality. The Purchaser covenants that neither it nor any Affiliate acting on its behalf or pursuant to

any understanding with it will execute any purchases or sales, including Short Sales of any of the Company’s securities during

the period commencing with the execution of this Agreement and ending on the date when this Agreement is publicly disclosed by the

Company. The Purchaser also covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed

by the Company, the Purchaser will maintain the confidentiality of the existence and terms of this transaction.

4.3 Legends.

The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares

other than pursuant to an effective registration statement or Rule 144, the Company may require the transferor thereof to provide to

the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of

which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of

such transferred Shares under the Securities Act. The Purchaser agrees to the imprinting, so long as is required by this Section

4.3, of a legend on all of the certificates evidencing the Shares in the following form:

THIS

SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON

AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY

NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION

FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE

SECURITIES LAWS.

4.4 Lock-Up. In

addition to the restrictions under Regulation S, without the prior written consent of the Company, the Purchaser shall not, during

the period commencing on the date of this Agreement and ending 18 months after such date (the “Lock-Up”) offer,

pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any Shares or any

securities convertible into or exercisable or exchangeable for Shares, with respect to which the Purchaser has the power of

disposition.

Page 9

ARTICLE

MISCELLANEOUS

5.1 Termination.

This Agreement may be terminated by the Company or the Purchaser, by written notice to the other party if the Closing has not been

consummated on or before May 30th, 2026; provided, however, that no such termination will affect the right of any party to sue for

any breach by any other party (or parties).

5.2 Fees

and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and

expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to

the negotiation, preparation, execution, delivery and performance of this Agreement.

5.3 Entire

Agreement. The Transaction Documents contain the entire understanding of the parties with respect to the subject matter hereof

and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties

acknowledge have been merged into such documents, exhibits and schedules.

5.4 Notices.

Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and

shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered

via facsimile at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of

transmission, if such notice or communication is delivered via facsimile on a day that is not a Trading Day or later than 5:30 p.m.

(New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally

recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The

address for such notices and communications shall be as set forth on the signature pages attached hereto.

5.5 Amendments;

Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,

in the case of an amendment, by the Company and the Purchaser or, in the case of a waiver, by the party granting the waiver. No

waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing

waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor

shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such

right.

Page 10

5.6 Headings.

The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect

any of the provisions hereof.

5.7 Successors

and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted

assigns. No party hereto may assign this Agreement or any rights or obligations hereunder without the prior written consent of the

Company and such Purchaser.

5.8 No

Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and

permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise

set forth in this Section 5.8.

5.9 Governing

Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be

governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the

principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and

defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party

hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced

exclusively in the state and federal courts sitting in the New York City, New York. Each party hereby irrevocably submits to the

exclusive jurisdiction of the state and federal courts sitting in New York City, for the adjudication of any dispute hereunder or in

connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of

any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any

claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or

is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to

process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight

delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that

such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to

limit in any way any right to serve process in any other manner permitted by law.

5.10 Survival.

The representations and warranties contained herein shall survive the Closing and the delivery of the Shares. The terms of this Article

V shall survive any termination of the Agreement pursuant to Section 5.1.

5.11 Execution.

This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same

agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being

understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile

transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding

obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such

facsimile or “.pdf” signature page were an original thereof.

Page 11

5.12 Severability.

If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,

illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in

full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially

reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated

by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they

would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter

declared invalid, illegal, void or unenforceable.

5.13 Saturdays,

Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or

granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding

Business Day.

5.14 Construction.

The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction

Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting

party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and

every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse

and forward stock splits, stock combinations and other similar transactions of the Common Stock that occur after the date of this

Agreement. The English version of this Agreement, regardless of whether a translation in any other language is or will be made,

shall be the only authentic version.

5.15 WAIVER

OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE

PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,

IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

(Signature

Pages Follow)

Page 12

WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized

signatories as of the date first indicated above.

XMAX INC.

By:

/s/

Xiaohua Lu

Name:

Xiaohua

Title:

Chief Executive Officer

Address

for Notice: XMax Inc.

6565

E Washington Blvd.

Commerce,

CA 90040

E-Mail:

[REMAINDER

OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

Page 13

[PURCHASER

SIGNATURE PAGES TO SECURITIES PURCHASE AGREEMENT]

WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories

as of the date first indicated above.

Name

of Purchaser:

Signature

of Purchaser:

Address of Purchaser:

ID/ID

Number of Purchaser:

Contact

Number of Purchaser:

Address

For Notice to Purchaser:

Subscription

Amount: $

Number

of Shares:

Page 14

EXHIBIT

A TO

THE

SECURITIES PURCHASE AGREEMENT

NON

U.S. PERSON REPRESENTATIONS

The

Purchaser indicates that it is not a U.S. person, further represents and warrants to the Company as follows:

1. At

the time of (a) the offer by the Company and (b) the acceptance of the offer by the Purchaser,

of the Shares, the Purchaser was outside the United States.

2. The

Purchaser is acquiring the Shares for Purchaser’s own account, for investment and not

for distribution

or resale to others and is not purchasing the Shares for the account or benefit of any U.S.

person, or with a view towards distribution to any U.S. person, in violation of the registration requirements of the Securities Act.

3. The

Purchaser will make all subsequent offers and sales of the Shares either (x) outside of the

United States in compliance with Regulation S; (y) pursuant to a registration under the Securities

Act; or (z) pursuant to an available exemption from registration under the Securities Act.

Specifically, Purchaser will not resell the Shares to any U.S. person or within the United

States prior to the expiration of a period commencing on the date of Closing and ending on

the date that is eighteen months thereafter (the “Distribution Compliance Period”),

except pursuant to registration under the Securities Act or an exemption from registration

under the Securities Act.

4. The

Purchaser has no present plan or intention to sell the Shares in the United States or to

a U.S. person at any predetermined time, has made no predetermined arrangements to sell the

Shares and is not acting as a distributor of such securities.

5. Neither

the Purchaser, its affiliates nor any person acting on behalf of Purchaser, has entered into,

has the intention of entering into, or will enter into any put option, short position or

other similar instrument or position in the U.S. with respect to the Shares at any time after

the date of Closing through the Distribution Compliance Period except in compliance with

the Securities Act.

6. The

Purchaser consents to the placement of a legend on any certificate or other document evidencing

the Shares substantially in the form set forth in Section 4.3.

7. The

Purchaser is not acquiring the Shares in a transaction (or an element of a series of transactions)

that is part of any plan or scheme to evade the registration provisions of the Securities

Act.

8. The

Purchaser has sufficient knowledge and experience in finance, securities, investments and

other business matters to be able to protect Purchaser’s interests in connection with

the transactions contemplated by this Agreement.

9. The

Purchaser has consulted, to the extent that it has deemed necessary, with its tax, legal,

accounting and financial advisors concerning its investment in the Shares.

Page 15

10. The

Purchaser understands the various risks of an investment in the Shares and can afford to

bear such risks for an indefinite period of time, including, without limitation, the risk

of losing its entire investment in the Shares.

11. The

Purchaser has had access to the Company’s information that the Purchaser has requested

and all

such information is sufficient for Purchaser to evaluate the risks of investing in the Shares.

12. The

Purchaser has been afforded the opportunity to ask questions of and receive answers concerning

the Company and the terms and conditions of the issuance of the Shares.

13. The

Purchaser is not relying on any representations and warranties concerning the Company made

by the Company or any officer, employee or agent of the Company, other than those contained

in this Agreement.

14. The

Purchaser will not sell or otherwise transfer the Shares unless either (A) the transfer of

such securities is registered under the Securities Act or (B) an exemption from registration

of such securities is available.

15. The

Purchaser represents that the address furnished on its signature page to this Agreement is

the principal residence if he/she/it is an individual or its principal business address if

it is a corporation or other entity.

16. The

Purchaser understands and acknowledges that the Shares have not been recommended by any federal

or state securities commission or regulatory authority, that the foregoing authorities have

not confirmed the accuracy or determined the adequacy of any information concerning the Company

that has been supplied to the Purchaser and that any representation to the contrary is a

criminal offense.

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