NEITHER   THE   ISSUANCE   AND   SALE   OF   THE   SECURITIES   REPRESENTED   BY   THIS

CERTIFICATE    NOR    THE    SECURITIES    INTO    WHICH    THESE    SECURITIES    ARE

CONVERTIBLE   HAVE   BEEN   REGISTERED   UNDER   THE   SECURITIES   ACT   OF   1933,

AS AMENDED, OR   APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY

NOT  BE  OFFERED  FOR  SALE,  SOLD,  TRANSFERRED  OR  ASSIGNED  (I)  IN  THE

ABSENCE    OF     (A)    AN    EFFECTIVE    REGISTRATION    STATEMENT    FOR    THE

SECURITIES  UNDER  THE  SECURITIES  ACT  OF  1933,  AS  AMENDED,  OR  (B)  AN

OPINION     OF     COUNSEL     (WHICH     COUNSEL     SHALL     BE     SELECTED     BY     THE

HOLDER),   IN   A   GENERALLY   ACCEPTABLE   FORM,   THAT   REGISTRATION   IS   NOT

REQUIRED   UNDER   SAID   ACT   OR   (II)   UNLESS   SOLD   PURSUANT   TO   RULE   144   OR

RULE   144A   UNDER   SAID   ACT.   NOTWITHSTANDING   THE   FOREGOING,   THE

SECURITIES  MAY   BE  PLEDGED   IN   CONNECTION   WITH  A   BONA   FIDE  MARGIN

ACCOUNT   OR   OTHER   LOAN   OR   FINANCING   ARRANGEMENT   SECURED   BY   THE

SECURITIES.

Principal Amount: $111,000.00

Issue Date: February 27, 2019

12% CONVERTIBLE NOTE

FOR   VALUE   RECEIVED , PARALLAX   HEALTH   SCIENCES,   INC.,   a   Nevada

corporation   ( “ Borrower ”   or    “ Company ” ),   hereby   promises   to   pay   to   the   order   of   EMA

FINANCIAL,   LLC,   a   Delaware   limited   liability   company,   or   its   registered   assigns   (the   “ Holder ” ),

on   November   27,   2019,   (subject   to   extension   as   set   forth   below,   the   “ Maturity   Date ” ),   the   sum   of

$111,000.00   as   set   forth   herein,   together   with   interest   on   the   unpaid   principal   balance   hereof   at   the

rate   of   twelve   percent   (12%)    per   annum   (the   “ Interest   Rate ” )   from   the   date   of   issuance   hereof   until

this   Note   plus   any   and   all   amounts   due   hereunder   are   paid   in   full,   and   any   additional   amounts   set

forth   herein,   including without   limitation   any Additional   Principal   (as   defined   herein).   Interest   shall

be   computed   on   the   basis   of   a   365-day   year   and   the   actual   number   of   days   elapsed.   Any   amount   of

principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty-

four   (24%)   per   annum   from   the   due   date   thereof   until   the   same   is   paid   ( “ Default   Interest ” ).   All

payments  due  hereunder  shall  be  made  in  lawful  money   of  the  United  States  of  America.  All

payments   shall   be   made   at   such   address   as   the   Holder   shall   hereafter   give   to   the   Borrower   by

written    notice    made    in    accordance    with    the    provisions    of    this    Note.    Whenever    any    amount

expressed   to   be   due   by   the   terms   of   this   Note   is   due   on   any   day   which   is   not   a   business   day,   the

same shall instead be due on the next succeeding day which is a business day and, in the case of any

interest   payment   date   which   is   not   the   date   on   which   this   Note   is   paid   in   full,   the   extension   of   the

due   date   thereof   shall   not   be   taken   into   account   for   purposes   of   determining   the   amount   of   interest

due   on   such   date.   As   used   in   this   Note,   the   term   “ business   day ”   shall   mean   any   day   other   than   a

Saturday,   Sunday   or   a   day   on   which   commercial   banks   in   the   city   of   New   York,   New   York   are

authorized  or   required   by   law   or   executive   order   to   remain   closed.   Each   capitalized   term  used

herein,   and   not   otherwise   defined,   shall   have   the   meaning   ascribed   thereto   in   that   certain   Securities

Purchase   Agreement   entered   into   by   and   between   the   Company   and   Holder   dated   on   or   about   the

date   hereof,   pursuant   to   which   this   Note   was   originally   issued   (the   “ Purchase   Agreement ” ).   The

Holder   may,   by   written   notice   to   the   Borrower   at   least   five   (5)   days   before   the   Maturity   Date   (as

may   have   been   previously   extended),   extend   the   Maturity   Date   to   up   to   one   (1)   year   following   the

date of the original Maturity Date hereunder.

1

Convertible Note – PRLX, T1, 2019-02-27

This   Note   is   free   from   all   taxes,   liens,   claims   and   encumbrances   with   respect   to   the   issue

thereof   and   shall   not   be   subject   to   preemptive   rights   or   other   similar   rights   of   shareholders   of   the

Borrower and will not impose personal liability upon the holder thereof.

The following terms shall apply to this Note:

ARTICLE   I. CONVERSION RIGHTS

1.1.

Conversion   Right.   The   Holder   shall   have   the   right,   in   its   sole   and   absolute

discretion,   at   any   time   from   time   to   time,   to   convert   all   or   any   part   of   the   outstanding   amount   due

under this Note (such outstanding amount includes but is not limited to the principal, interest and/or

Default   Interest   accrued,   plus   any   and   all   other   amounts   owed   pursuant   to   the   terms   of   this   Note)

into   fully   paid   and   non-assessable   shares   of   Common   Stock,   as   such   Common   Stock   exists   on   the

Issue   Date,  or  any   shares  of  capital  stock   or   other   securities  of   the  Borrower   into   which  such

Common   Stock   shall   hereafter   be   changed   or   reclassified   at   the   conversion   price   (the   “ Conversion

Price ” )   determined   as   provided   herein   (a   “ Conversion ” ); provided, however,   that   in   no   event   shall

the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon

conversion   of   which   the   sum   of   (1)   the   number   of   shares   of   Common   Stock   beneficially   owned   by

the Holder and its affiliates (other than shares of   Common Stock which may be deemed beneficially

owned  through  the  ownership  of  the  unconverted  portion  of  the  Notes  or  the  unexercised  or

unconverted   portion   of   any   other   security   of   the   Borrower   subject   to   a   limitation   on   conversion   or

exercise   analogous   to   the   limitations   contained   herein)   and   (2)   the   number   of   shares   of   Common

Stock    issuable    upon    the    conversion    of    the    portion    of    this    Note    with    respect    to    which    the

determination of this proviso is being made, would result in beneficial ownership by the Holder and

its   affiliates   of   more   than   4.9%   of   the   outstanding   shares   of   Common   Stock.   For   purposes   of   the

proviso    to    the    immediately    preceding    sentence,    beneficial    ownership    shall    be    determined    in

accordance   with   Section   13(d)   of   the   Securities   Exchange   Act   of   1934,   as   amended   (the   “ Exchange

Act ” ),  and  Regulation  13D-G  thereunder,  except  as  otherwise  provided  in  clause  (1)  of  such

proviso, provided, further, however, that the limitations on conversion may be waived by the Holder

upon,   at   the   election   of   the   Holder,   not   less   than   61   days ’   prior   notice   to   the   Borrower,   and   the

provisions   of   the   conversion   limitation   shall   continue   to   apply   until   such   61st   day   (or   such   later

date,   as   determined   by   the   Holder,   as   may   be   specified   in   such   notice   of   waiver).   The   number   of

shares   of   Common   Stock   to   be   issued   upon   each   Conversion   of   this   Note   ( “ Conversion   Shares ” )

shall  be  determined  by  dividing  the  Conversion  Amount  (as  defined  below)  by  the  applicable

Conversion  Price  then  in  effect  on  the  date  specified  in  the  notice  of  conversion,  in  the  form

attached   hereto   as   Exhibit   A   (the   “ Notice   of   Conversion ” ),   delivered   to   the   Borrower   by the   Holder

in   accordance   with   Section   1.4   below;   provided   that   the   Notice   of   Conversion   is   submitted   by

facsimile or e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the

Borrower   before   11:59   p.m.,   New   York,   New   York   time   on   such   conversion   date   (the   “ Conversion

Date ” ).   The   term   “ Conversion   Amount ”   means,   with   respect   to   any   Conversion   of   this   Note,   the

sum   of   (1)   the   principal   amount   of   this   Note   to   be   converted   in   such   Conversion, plus (2)   accrued

and   unpaid   interest,   if   any,   to   be   converted   in   such   Conversion   at   the   interest   rates   provided   in   this

Note to the Conversion Date, plus ( 3) at the Holder ’ s option, Default Interest, if any, on the amounts

referred   to   in   the   immediately preceding clauses   (1)   and/or   (2), plus ( 4) any Additional   Principal   for

such   Conversion,   plus ( 5)   at   the   Holder ’ s   option,   any   amounts   owed   to   the   Holder   pursuant   to

Sections 1.2(c) and 1.4(g) hereof.

2

Convertible Note – PRLX, T1, 2019-02-27

1.2.

Conversion Price .

a)

Calculation   of   Conversion   Price . The   conversion   price   hereunder   (the

“ Conversion Price ” ) shall equal the lower of: (i) $0.12, and (ii) 70% of either the second lowest sale

price   for   the   Common   Stock   on   the   Principal   Market   during   the   twenty   (20)   consecutive   Trading

Days  on  which  at  least  100  shares  of  Common  Stock  were  traded  including  and  immediately

preceding   the   Conversion   Date.   If   an   Event   of   Default   under   Section   3.9   of   the   Note   has   occurred,

Holder, in its sole discretion, may elect to use a Conversion Price which shall equal the lower of: (i)

the    closing    sale    price    of    the    Common    Stock    on    the    Principal    Market    on    the    Trading    Day

immediately   preceding   the   Closing   Date;   (ii)   70%   of   either   the   lowest   sale   price   or   the   closing   bid

price, whichever is lower for the Common Stock on the Principal Market during any Trading Day in

which the Event of Default has not been cured. If such Common Stock is not traded on the OTCBB,

OTCQB,   NASDAQ   or   NYSE,   then   such   sale   price   shall   be   the   sale   price   of   such   security   on   the

principal   securities   exchange   or   trading   market   where   such   security   is   listed   or   traded   or,   if   no   sale

price   of   such   security   is   available   in   any   of   the   foregoing   manners,   the   average   of   the   closing   bid

prices   of   any   market   makers   for   such   security   that   are   listed   in   the   “ pink   sheets ”   by   the   National

Quotation   Bureau,   Inc.   If   such   sale   price   cannot   be   calculated   for   such   security   on   such   date   in   the

manner   provided   above,   such   price   shall   be   the   fair   market   value   as   mutually   determined   by   the

Borrower   and   the   Holder.   If   the   Borrower ’ s   Common   stock   is   chilled   for   deposit   at   DTC,   becomes

chilled   at   any   point   while   this   Note   remains   outstanding   or   deposit   or   other   additional   fees   are

payable due to a Yield Sign, Stop Sign or other trading restrictions, or if the closing sale price at any

time   falls   below   $0.0275   (as   appropriately   and   equitably   adjusted   for   stock   splits,   stock   dividends,

stock   contributions   and   similar   events),   then   an   additional   15%   discount   will   be   attributed   to   the

Conversion  Price  for  any  and  all  Conversions  submitted  thereafter  Additionally,  the  Borrower

acknowledges   that   it   will   take   all   reasonable   steps   necessary   or   appropriate,   including   providing   a

board   of   directors   resolution   authorizing   the   issuance   of   common   stock   to   Holder.   So   long   as   the

requested   sale   may   be   made   pursuant   to   Rule   144,   the   Company   agrees   to   accept   an   opinion   of

counsel   to   the   Holder   confirming   the   rights   of   the   Holder   to   sell   shares   of   Common   Stock   issuable

at the Holder ’ s option, Company shall immediately and without delay provide an opinion of counsel

to   the   Holder   confirming   the   rights   of   the   Holder   to   sell   shares   of   Common   Stock   pursuant   to   Rule

144,   or   Rule   4(a)(1),   if   applicable,   as   such   Rule   144   may   be   in   effect   from   time   to   time,   which

opinion   will   be   issued   at   the   Company ’ s   expense   and   the   conversion   dollar   amount   will   be   reduced

by $500.00 to cover the cost of such legal opinion.   “ Trading Day ” shall mean any day on which the

Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or

other  securities  market  on  which  the  Common  Stock  is  then  being   traded.  Additionally,  if  the

Company   ceases   to   be   a   reporting   company   pursuant   to   the   1934   Act   or   if   the   Note   cannot   be

converted into free trading shares after 181 days from the issuance date, an   additional 15% discount

will be attributed to the Conversion Price for any and all Conversions submitted thereafter.

b)

If   at   any   time   the   Conversion   Price   as   determined   hereunder   for   any

Conversion   would   be   less   than   the   par   value   of   the   Common   Stock,   then   the   Conversion   Price

hereunder   shall   equal   such   par   value   for   such   Conversion   and   the   Conversion   Amount   for   such

Conversion   shall   be   increased   to   include   Additional   Principal,   where   “ Additional   Principal ”   means

such   additional   amount   to   be   added   to   the   Conversion   Amount   to   the   extent   necessary   to   cause   the

number    of    Conversion    Shares    issuable    upon    such    Conversion    to    equal    the    same    number    of

3

Convertible Note – PRLX, T1, 2019-02-27

Conversion   Shares   as   would   have   been   issued   had   the   Conversion   Price   not   been   subject   to   the

minimum price set forth in this Section 1.2(b).

c)

Without    in    any    way    limiting    the    Holder ’ s    right    to    pursue    other

remedies,   including   actual   damages   and/or   equitable   relief,   the   parties   agree   that   if   delivery   of   the

free   trading   shares   of   Common   Stock   issuable   upon   conversion   of   this   Note   is   not   delivered   by   the

Deadline   (as   defined   below)   the   Borrower   shall   pay to   the   Holder   $250.00   per   day in   cash,   for   each

day beyond   the   Deadline   that   the   Borrower   fails   to   deliver   such   Common   Stock.   Such   cash   amount

shall be paid to Holder by the fifth day of the month following the month in which it has accrued or,

at   the   option   of   the   Holder,   shall   be   added   to   the   principal   amount   of   this   Note,   in   which   event

interest   shall   accrue   thereon   in   accordance   with   the   terms   of   this   Note   and   such   additional   principal

amount   shall   be   convertible   into   Common   Stock   in   accordance   with   the   terms   of   this   Note.   The

Borrower   agrees   that   the   right   to   convert   this   Note   is   a   valuable   right   to   the   Holder.   The   damages

resulting   from   a   failure,   attempt   to   frustrate,   or   interference   with   such   conversion   right   are   difficult

if   not   impossible   to   quantify.   Accordingly,   the   parties   acknowledge   that   the   liquidated   damages

provision contained in this Section are justified.

1.3.

Authorized  Shares.  The  Borrower  covenants  that  the  Borrower  will  at  all

times   while   this   Note   is   outstanding   reserve   from   its   authorized   and   unissued   Common   Stock   a

sufficient   number   of   shares,   free   from   preemptive   rights,   to   provide   for   the   issuance   of   Common

Stock   upon   the   full   conversion   or   adjustment   of   this   Note.   The   Borrower   is   required   at   all   times   to

have authorized and reserved seven (7) times the number of shares that is actually issuable upon full

conversion   or   adjustment   of   this   Note   (based   on   the   Conversion   Price   of   the   Notes   in   effect   from

time   to   time)(the   “ Reserved   Amount ” ).    Initially,   the   Company   will   instruct   the   Transfer   Agent   to

reserve   ten   million   one   hundred   thousand   (10,100,000)   shares   of   common   stock   in   the   name   of   the

Holder   for   issuance   upon   conversion   hereof.     The   Borrower   represents   that   upon   issuance,   such

shares   will   be   duly   and   validly   issued,   fully   paid   and   non-assessable.   In   addition,   if   the   Borrower

shall  issue  any   securities  or  make  any   change  to  its  capital  structure  which  would  change  the

number   of   shares   of   Common   Stock   into   which   this   Note   shall   be   convertible   at   the   then   current

Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there

shall  be  a  sufficient  number  of  shares  of  Common  Stock  authorized  and  reserved,  free  from

preemptive  rights,  for  conversion  of  this  Note  in  full.  So  long   as  this  Note  is  outstanding  the

Borrower   shall   instruct   the   Transfer   Agent   that   upon   Holder ’ s   request   it   shall   furnish   to   the   Holder

the   then   current   number   of   common   shares   issued   and   outstanding,   the   then   current   number   of

common   shares   authorized,   the   then   current   number   of   unrestricted   shares,   and   the   then   current

number   of   shares   reserved   for   third   parties.   The   Borrower   (i)   acknowledges   that   it   has   irrevocably

instructed   its   transfer   agent   to   issue   certificates   for   the   Common   Stock   issuable   upon   conversion   of

this   Note,   and   (ii)   agrees   that   its   issuance   of   this   Note   shall   constitute   full   authority   to   its   officers

and   agents   who   are   charged   with   the   duty   of   executing   stock   certificates   to   execute   and   issue   the

necessary   certificates   for   shares   of   Common   Stock   in   accordance   with   the   terms   and   conditions   of

this Note.

If,   at   any   time   the   Borrower   does   not   maintain   the   Reserved   Amount   it   will

be considered an Event of Default under Section 3.2 of the Note.

1.4.

Method of Conversion.

4

Convertible Note – PRLX, T1, 2019-02-27

a)

Mechanics   of   Conversion.   Subject   to   Section   1.1,   this   Note   may   be

converted   by   the   Holder   in   whole   or   in   part   at   any   time   and   from   time   to   time   after   the   Issue   Date,

by   submitting   to   the   Borrower   a   Notice   of   Conversion   (by   facsimile,   e-mail   or   other   reasonable

means   of   communication   dispatched   on   the   Conversion   Date   prior   to   11:59   p.m.,   New   York,   New

York time).

b)

Book   Entry    upon   Conversion.   Notwithstanding   anything   to   the

contrary   set   forth   herein,   upon   conversion   of   this   Note   in   accordance   with   the   terms   hereof,   the

Holder   shall   not   be   required   to   physically   surrender   this   Note   to   the   Borrower   unless   the   entire

unpaid   balance   of   this   Note   is   so   converted.   The   Holder   and   the   Borrower   shall   maintain   records

showing the principal amount so converted and the dates of such conversions or shall use such other

method,  reasonably   satisfactory   to  the  Holder  and  the  Borrower,  so  as  not  to  require  physical

surrender   of   this   Note   upon   each   such   conversion.   In   the   event   of   any   dispute   or   discrepancy,   such

records  of  the  Borrower  shall, prima facie, be  controlling  and  determinative  in  the  absence  of

manifest   error.   Notwithstanding   the   foregoing,   if   any portion   of   this   Note   is   converted   as   aforesaid,

the   Holder   may   not   transfer   this   Note   unless   the   Holder   first   physically   surrenders   this   Note   to   the

Borrower,   whereupon   the   Borrower   will   forthwith   issue   and   deliver   upon   the   order   of   the   Holder   a

new   Note   of   like   tenor,   registered   as   the   Holder   (upon   payment   by   the   Holder   of   any   applicable

transfer   taxes)   may request,   representing in   the   aggregate   the   remaining unpaid   principal   amount   of

this Note. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, by

reason  of   the   provisions  of   this  paragraph,   following   conversion   of   a   portion   of   this  Note,  the

unpaid and unconverted principal amount of this Note represented by this Note may be less than the

amount stated on the face hereof.

c)

Payment   of   Taxes.   The   Borrower   shall   not   be   required   to   pay   any tax

which   may   be   payable   in   respect   of   any   transfer   involved   in   the   issue   and   delivery   of   shares   of

Common   Stock   or   other   securities   or   property   on   conversion   of   this   Note   in   a   name   other   than   that

of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such

shares or other securities or property unless and until the person or persons (other than the Holder or

the   custodian   in   whose   street   name   such   shares   are   to   be   held   for   the   Holder ’ s   account)   requesting

the   issuance   thereof   shall   have   paid   to   the   Borrower   the   amount   of   any   such   tax   or   shall   have

established to the satisfaction of the Borrower that such tax has been paid.

d)

Delivery   of   Common   Stock   upon   Conversion. Upon   receipt  by   the

Borrower   from   the   Holder   of   a   facsimile   transmission   or   e-mail   (or   other   reasonable   means   of

communication)   of   a   Notice   of   Conversion   meeting   the   requirements   for   conversion   as   provided   in

this   Section   1.4,   the   Borrower   shall   issue   and   deliver   or   cause   to   be   issued   and   delivered   to   or   upon

the   order   of   the   Holder   certificates   for   the   Common   Stock   issuable   upon   such   conversion   within

three   (3)   business   days   after   such   receipt   or   such   an   event   (the   “ Deadline ” )   (and,   solely   in   the   case

of   conversion   of   the   entire   unpaid   principal   amount   hereof,   surrender   of   this   Note)   in   accordance

with the terms hereof and the Purchase Agreement.

e)

Obligation   of   Borrower   to   Deliver   Common   Stock.   Upon   receipt   by

the   Borrower   of   a   duly and   properly executed   Notice   of   Conversion,   the   Holder   shall   be   deemed   to

be  the  holder  of  record  of  the  Common  Stock  issuable  upon  such  conversion,  the  outstanding

principal   amount   and   the   amount   of   accrued   and   unpaid   interest   on   this   Note   shall   be   reduced   to

reflect   such   conversion   or   adjustment,   and,   unless   the   Borrower   defaults   on   its   obligations   under

this   Article   I,   all   rights   with   respect   to   the   portion   of   this   Note   being   so   converted   shall   forthwith

5

Convertible Note – PRLX, T1, 2019-02-27

terminate   except   the   right   to   receive   the   Common   Stock   or   other   securities,   cash   or   other   assets,   as

herein   provided,   on   such   conversion.   If   the   Holder   shall   have   given   a   Notice   of   Conversion   as

provided   herein,   the   Borrower ’ s   obligation   to   issue   and   deliver   the   certificates   for   Common   Stock

shall   be   absolute   and   unconditional,   irrespective   of   the   absence   of   any   action   by   the   Holder   to

enforce   the   same,   any   waiver   or   consent   with   respect   to   any   provision   thereof,   the   recovery   of   any

judgment    against    any  person    or    any  action    to    enforce    the    same,    any  failure    or    delay  in    the

enforcement    of    any  other    obligation    of    the    Borrower    to    the    holder    of    record,    or    any  setoff,

counterclaim,   recoupment,   limitation   or   termination,   or   any   breach   or   alleged   breach   by   the   Holder

of    any    obligation    to    the    Borrower,    and    irrespective    of    any    other    circumstance    which    might

otherwise   limit   such   obligation   of   the   Borrower   to   the   Holder   in   connection   with   such   conversion.

The Conversion   Date specified in the   Notice   of Conversion shall be   the Conversion Date so long as

the   Notice   of   Conversion   is   received   by   the   Borrower   before   11:59   p.m.,   New   York,   New   York

time, on such date.

f)

Delivery    of    Common    Stock    by    Electronic    Transfer .    In    lieu    of

delivering   physical   certificates   representing   the   Common   Stock   issuable   upon   conversion,   provided

the   Borrower   is   participating in   the   Depository Trust   Company ( “ DTC ” )   Fast   Automated   Securities

Transfer   ( “ FAST ” )   program,   upon   request   of   the   Holder   and   its   compliance   with   the   provisions

contained   in   Section   1.1   and   in   this   Section   1.4,   the   Borrower   shall   use   its   best   efforts   to   cause   its

transfer   agent   to   electronically   transmit   the   Common   Stock   issuable   upon   conversion   to   the   Holder

by crediting the account   of Holder ’ s Prime Broker with DTC through its Deposit Withdrawal Agent

Commission   ( “ DWAC ” )   system.    In   the   event   that   the   shares   of   the   Borrower ’ s   Common   Stock   are

not   deliverable   via   DWAC   following   the   conversion   of   any   amount   hereunder,   an   additional   5%

discount will be attributed to the Conversion Price.

g)

Failure   to   Deliver   Common   Stock   Prior   to   Deadline . Without   in   any

way limiting the Holder ’ s right to pursue other remedies, including actual   damages and/or   equitable

relief,    the    parties    agree    that    if    delivery    of    the    Common    Stock    issuable    upon    conversion    or

adjustment   of   this   Note   is   not   delivered   by   the   Deadline,   the   Borrower   shall   pay   to   the   Holder

$250.00   per   day   in   cash,   for   each   day   beyond   the   Deadline   that   the   Borrower   fails   to   deliver   such

Common   Stock   to   the   Holder.   Such   cash   amount   shall   be   paid   to   Holder   by   the   fifth   day   of   the

month following the month in which it has accrued or, at the option of the Holder, shall be added to

the   principal   amount   of   this   Note,   in   which   event   interest   shall   accrue   thereon   in   accordance   with

the terms of this Note and such additional principal amount shall be convertible into Common Stock

in   accordance   with   the   terms   of   this   Note.   The   Borrower   agrees   that   the   right   to   convert   and/or

receive shares in the event of an adjustment is a valuable right to the Holder. The damages resulting

from   a   failure,   attempt   to   frustrate,   or   interference   with   such   conversion   or   adjustment   right   are

difficult  if  not  impossible  to  qualify.  Accordingly,  the  parties  acknowledge  that  the  liquidated

damages provision contained in this Section 1.4(g) are justified.

h)

The  Borrower  acknowledges  that  it  will  take  all  reasonable  steps

necessary or   appropriate,   including   accepting an   opinion   of   counsel   to   Holder   confirming   the   rights

of Holder to sell shares of Common Stock issued to Holder on conversion or adjustment of the Note

pursuant   to   Rule   144   as   promulgated   by the   SEC   ( “ Rule   144"),   as   such   Rule   may be   in   effect   from

time   to   time.   So   long   as   the   requested   sale   may   be   made   pursuant   to   Rule   144   the   Borrower   agrees

to  accept  an  opinion   of  counsel  to   the   Holder  which   opinion   will  be   issued   at  the   Borrower ’ s

expense.

6

Convertible Note – PRLX, T1, 2019-02-27

i)

Charges   and   Expenses.   Issuance   of   Common   Stock   to   Holder,   or   any

of   its   assignees,   upon   the   conversion   of   this   Note   shall   be   made   without   charge   to   the   Holder   for

any issuance fee, transfer tax, legal opinion and related charges, postage/mailing charge or any other

expense with respect to the issuance of such Common Stock. Company shall pay all Transfer Agent

fees   incurred   from   the   reservation   and   issuance   of   the   Common Stock to   Holder,   as   well   as   any and

all    other    fees    and    charges    required    by  the    Transfer    Agent    as    a    condition    to    effectuate    such

issuance. That   notwithstanding,   the   Holder   may   in   the   interest   of   securing   issuance   and/or   delivery

of   Common   Stock   before   the   Deadline,   at   any   time   from   time   to   time,   in   its   sole   discretion   elect   to

pay any such fees or   charges upfront, and Company agrees that any such fees or charges as noted in

this   Section   that   are   paid   by   the   Holder   (whether   from   the   Company ’ s   delays,   outright   refusal   to

pay,   Holder ’ s   interest   in   securing   issuance   and/or   delivery   of   Common   Stock   before   the

Deadline, or     otherwise), will     be     at     Company ’ s     expense, and     the     conversion     amount     will

automatically   be   reduced   by   that   dollar   amount   to   cover   the   cost   of   the   fees   or   charges   as   noted   in

this Section.

1.5.

Restricted Securities. The shares of Common Stock issuable upon   conversion

or   adjustment   of   this   Note   may not   be   sold   or   transferred   unless   (i)   such   shares   are   sold   pursuant   to

an   effective   registration   statement   under   the   Act   or   (ii)   the   Borrower   or   its   transfer   agent   shall   have

been   furnished   with   an   opinion   of   counsel   (which   opinion   shall   be   in   form,   substance   and   scope

customary for opinions of counsel in comparable transactions) to the effect that the shares to be sold

or   transferred   may   be   sold   or   transferred   pursuant   to   an   exemption   from   such   registration   or   (iii)

such   shares   are   sold   or   transferred   pursuant   to   Rule   144   under   the   Act   (or   a   successor   rule)   ( “ Rule

144 ” )   or   (iv)   such   shares   are   transferred   to   an   “ affiliate ”   (as   defined   in   Rule   144)   of   the   Borrower

who agrees to sell or otherwise transfer the shares   only in accordance with   this Section 1.5 and who

is   an   Accredited   Investor   (as   defined   in   the   Purchase   Agreement).     Any   legend   set   forth   on   any

stock   certificate   evidencing   any   Conversion   Shares   shall   be   removed   and   the   Borrower   shall   issue

to the Holder a new certificate therefore free of any transfer legend if (i) the Borrower or its transfer

agent    shall    have    received    an    opinion    of    counsel      form,  substance  and  scope  customary  for

opinions   of   counsel   in  comparable   transactions,   to   the   effect   that   a  public   sale   or  transfer   of   such

Common   Stock   may be   made   without   registration   under   the   Act,   which   opinion   shall   be reasonably

acceptable  to  the  Company,  or  (ii)  in  the  case  of  the  Common  Stock  issued  or  issuable  upon

conversion  of  this  Note,  such  security  is  registered  for  sale  by  the  Holder  under  an  effective

registration   statement   filed   under   the   Act   or   otherwise   may   be   sold   pursuant   to   Rule   144   without

any   restriction   as   to   the   number   of   securities   as   of   a   particular   date   that   can   then   be   immediately

sold.

1.6.

Effect of Certain Events.

a)

Effect   of   Merger,   Consolidation,   Etc .   At   the   option   of   the   Holder,   the

sale,    conveyance    or    disposition    of    all    or    substantially  all    of    the    assets    of    the    Borrower,    the

effectuation   by   the   Borrower   of   a   transaction   or   series   of   related   transactions   in   which   more   than

50%   of   the   voting   power   of   the   Borrower   is   disposed   of,   or   the   consolidation,   merger   or   other

business   combination   of   the   Borrower   with   or   into   any   other   Person   (as   defined   below)   or   Persons

when   the   Borrower   is   not   the   survivor   shall   either:   (i)   be   deemed   to   be   an   Event   of   Default   (as

defined   in   Article   III)   pursuant   to   which   the   Borrower   shall   be   required   to   pay   to   the   Holder   upon

the consummation of   and   as a   condition to such   transaction an   amount equal to the Default Amount

(as   defined   in   Article   III)   or   (ii)   be   treated   pursuant   to   Section   1.6(b)   hereof.   “ Person ”   shall   mean

7

Convertible Note – PRLX, T1, 2019-02-27

any   individual,   corporation,   limited   liability   company,   partnership,   association,   trust   or   other   entity

or organization.

b)

Adjustment   Due   to   Merger,   Consolidation,   Etc .   If,   at   any   time   when

this   Note   is   issued   and   outstanding   and   prior   to   conversion   of   all   of   the   Notes,   there   shall   be   any

merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as

a   result   of   which   shares   of   Common   Stock   of   the   Borrower   shall   be   changed   into   the   same   or   a

different   number   of   shares   of   another   class   or   classes   of   stock   or   securities   of   the   Borrower   or

another   entity,   or   in   case   of   any   sale   or   conveyance   of   all   or   substantially   all   of   the   assets   of   the

Borrower   other   than   in   connection   with   a   plan   of   complete   liquidation   of   the   Borrower,   then   the

Holder   of   this   Note   shall   thereafter   have   the   right   to   receive   upon   conversion   of   this   Note,   upon   the

basis and upon the terms and conditions specified herein and in lieu of the   shares of Common Stock

immediately theretofore   issuable   upon   conversion,   such   stock,   securities   or   assets   which   the   Holder

would  have  been  entitled  to  receive  in  such  transaction  had  this  Note  been  converted  in  full

immediately   prior   to   such   transaction   (without   regard   to   any   limitations   on   conversion   set   forth

herein),   and   in   any   such   case   appropriate   provisions   shall   be   made   with   respect   to   the   rights   and

interests  of  the  Holder  of  this  Note  to  the  end  that  the  provisions  hereof  (including,  without

limitation,   provisions   for   adjustment   of   the   Conversion   Price   and   of   the   number   of   shares   issuable

upon   conversion   of   the   Note)   shall   thereafter   be   applicable,   as   nearly   as   may   be   practicable   in

relation   to   any   securities   or   assets   thereafter   deliverable   upon   the   conversion   hereof.   The   Borrower

practicable,   thirty   (30)   days   prior   written   notice   (but   in   any   event   at   least   fifteen   (15)   days   prior

written   notice)   of   the   record   date   of   the   special   meeting of   shareholders   to   approve,   or   if   there   is   no

such   record   date,   the   consummation   of,   such   merger,   consolidation,   exchange   of   shares,

recapitalization,  reorganization  or  other  similar  event  or  sale  of  assets  (during  which  time,  for

clarification,   the   Holder   shall   be   entitled   to   convert   this   Note)   and   (b)   the   resulting   successor   or

acquiring   entity   assumes   by   written   instrument   the   obligations   of   this   Section   1.6(b).   The   above

provisions  shall  similarly  apply  to  successive  consolidations,  mergers,  sales,  transfers  or  share

exchanges.

c)

Adjustment Due to Distribution . If the Borrower shall declare or make

any   distribution   of   its   assets   (or   rights   to   acquire   its   assets)   to   holders   of   Common   Stock   as   a

dividend,   stock   repurchase,   by   way   of   return   of   capital   or   otherwise   (including   any   dividend   or

distribution   to   the   Borrower ’ s   shareholders   in   cash   or   shares   (or   rights   to   acquire   shares)   of   capital

stock   of   a   subsidiary   (i.e.,   a   spin-off))   (a   “ Distribution ” ),   then   the   Holder   of   this   Note   shall   be

entitled, upon any conversion of this Note as of or after (in the event of a stock dividend) the date of

record   for   determining   shareholders   entitled   to   such   Distribution,   to   receive   the   amount   of   such

assets   which   would   have   been   payable   to   the   Holder   with   respect   to   the   shares   of   Common   Stock

issuable upon such conversion had such Holder been the holder of such shares of Common Stock on

the record date for the determination of shareholders entitled to such Distribution.    Such assets shall

be held in escrow by the Company pending any such conversion

d)

Purchase  Rights.    If,  at    any  time  when  any  Notes  are  issued    and

outstanding,   the   Borrower   issues   any   convertible   securities   or   rights   to   purchase   stock,   warrants,

securities   or   other   property   (the   “ Purchase   Rights ” )   pro   rata   to   the   record   holders   of   any   class   of

Common   Stock,   then   the   Holder   of   this   Note   will   be   entitled   to   acquire,   upon   the   terms   applicable

to   such   Purchase   Rights,   the   aggregate   Purchase   Rights   which   such   Holder   could   have   acquired   if

such Holder had held the number of shares of Common Stock acquirable   upon complete conversion

8

Convertible Note – PRLX, T1, 2019-02-27

of   this   Note   (without   regard   to   any limitations   on   conversion   contained   herein)   immediately before

the   date   on   which   a   record   is   taken   for   the   grant,   issuance   or   sale   of   such   Purchase   Rights   or,   if   no

such record is taken, the date as of which the record holders of Common Stock are to be determined

for the grant, issue or sale of such Purchase Rights.

e)

Stock   Dividends   and   Stock   Splits.    If   the   Company,   at   any time   while

this Note is outstanding: (A) pays a stock dividend or otherwise makes a distribution or distributions

payable   in   shares   of   Common   Stock   on   shares   of   Common   Stock   or   any   securities   convertible   into

or   exercisable   for  Common   Stock;  (B)   subdivides  outstanding   shares  of   Common   Stock  into   a

larger number of shares; (C) combines (including by way of a reverse stock split) outstanding shares

of Common Stock into a smaller number of shares; or (D) issues, in the event of a reclassification of

shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price

(and   each   sale   or   bid   price   used   in   determining   the   Conversion   Price)   shall   be   subject   to   equitable

adjustments for such events.

f)

Any adjustment   made   pursuant   to   this   Section   shall   become   effective

immediately   after   the   record   date   for   the   determination   of   stockholders   entitled   to   receive   such

dividend   or   distribution   and   shall   become   effective   immediately   after   the   effective   date   in   the   case

of a subdivision, combination or re-classification.

g)

Notice   of   Adjustments .   Upon   the   occurrence   of   each   adjustment   or

readjustment   of   the   Conversion   Price   as   a   result   of   the   events   described   in   this   Section   1.6,   the

Borrower,   at   its   expense,   shall   promptly compute   such   adjustment   or   readjustment   and   prepare   and

furnish   to   the   Holder   a   certificate   setting   forth   such   adjustment   or   readjustment   and   showing   in

detail   the   facts   upon   which   such   adjustment   or   readjustment   is   based.   The   Borrower   shall,   upon   the

written   request   at   any   time   of   the   Holder,   furnish   to   such   Holder   a   like   certificate   setting   forth   (i)

such   adjustment   or   readjustment,   (ii)   the   Conversion   Price   at   the   time   in   effect   and   (iii)   the   number

of shares of Common Stock and the amount, if any, of other securities or property which at the time

would be received upon conversion of the Note.

1.7.

Revocation.   If   any   Conversion   Shares   are   not   received   by   the   Deadline,   the

Holder   may   revoke   the  applicable   Conversion   pursuant   to   which   such   Conversion   Shares  were

issuable.    This   Note   shall   remain   convertible   after   the   Maturity Date   hereof   until   this   Note   is repaid

or converted in full.

1.8.

Prepayment. Notwithstanding anything to the contrary contained in this Note,

subject to the terms of this Section, at any time during the period beginning on the Closing Date and

ending   on   the   date   which   is   six   (6)   months   following   the   Issue   Date   ( “ Prepayment   Termination

Date ” ),   Borrower   shall   have   the   right,   exercisable   on   not   less   than   five   (5)   Trading   Days   prior

written   notice   to   the   Holder   of   this   Note,   to   prepay   up   to   the   outstanding   balance   on   this   Note

(principal   and   accrued   interest),   in   full,   in   accordance   with   this   Section.   Any   notice   of   prepayment

hereunder   (an   “ Optional   Prepayment   Notice ” )   shall   be   delivered   to   the   Holder   of   the   Note   at   its

registered   addresses   and   shall   state:   (1)   that   the   Borrower   is   exercising   its   right   to   prepay   the   Note,

and   (2)   the   date   of   prepayment   which   shall   be   not   more   than   fifteen   (15)   Trading   Days   from   the

date of the Optional Prepayment Notice; and (3) the amount (in dollars) that the Borrower is paying.

Notwithstanding   Holder ’ s   receipt   of   the   Optional   Prepayment   Notice   the   Holder   may   convert,   or

continue   to   convert   the   Note   in   whole   or   in   part   until   the   Optional   Prepayment   Amount   (as   defined

herein)   is   paid   to   the   Holder.    On   the   date   fixed   for   prepayment   (the   “ Optional   Prepayment   Date ” ),

9

Convertible Note – PRLX, T1, 2019-02-27

the   Borrower   shall   make   payment   of   the   Optional   Prepayment   Amount   (as   defined   below)   to   or

upon   the   order   of   the   Holder   as   specified   by   the   Holder   in   writing   to   the   Borrower   at   least   one   (1)

business   day   prior   to   the   Optional   Prepayment   Date.    If   the   Borrower   exercises   its   right   to   prepay

the   Note,   the   Borrower   shall   make   payment   to   the   Holder   of   an   amount   in   cash   (the   “ Optional

Prepayment Amount ” ) equal to the Prepayment Factor (as defined below), multiplied by the sum of:

(w)   the   then   outstanding   principal   amount   of   this   Note plus ( x)   accrued   and   unpaid   interest   on   the

unpaid   principal   amount   of   this   Note   to   the   Optional   Prepayment   Date plus ( y)   Default   Interest,   if

any,   on   the   amounts   referred   to   in   clauses   (w)   and   (x) plus ( z)   any   amounts   owed   to   the   Holder

pursuant to Sections 1.3 and 1.4(g) hereof.  If the Borrower delivers an Optional Prepayment Notice

and   fails   to   pay   the   Optional   Prepayment   Amount   due   to   the   Holder   of   the   Note   within   two   (2)

business days following the Optional Prepayment Date, the Borrower shall forever forfeit its right to

prepay   the   Note   pursuant   to   this   Section.   After   the   Prepayment   Termination   Date,   the   Borrower

shall   have   no   right   to   prepay   this   Note.   For   purposes   hereof,   the   “ Prepayment   Factor ”   shall   equal

the    percentage    set    forth    below    with    respect    to    each    Optional    Prepayment    Date    beside    such

Prepayment Factor:

The Prepayment Factor is:

If the Optional Prepayment Date occurs:

110%

1-90 days after the Issue Date

120%

91-120 days after the Issue Date

140%

121-180 days after the Issue Date

ARTICLE II. CERTAIN COVENANTS

2.1.

Distributions  on  Capital  Stock.  So  long  as  the  Borrower  shall  have  any

obligation   under   this   Note,   the   Borrower   shall   not   without   the   Holder ’ s   written   consent   (a)   pay,

declare   or   set   apart   for   such   payment,   any   dividend   or   other   distribution   (whether   in   cash,   property

or   other   securities)   on   shares   of   capital   stock   other   than   dividends   on   shares   of   Common   Stock

solely in the form of additional shares of Common Stock or (b) directly or   indirectly or through any

subsidiary  make    any  other    payment    or    distribution    in    respect    of    its    capital    stock    except    for

distributions  pursuant  to  any   shareholders ’  rights  plan  which  is  approved  by   a  majority   of  the

Borrower ’ s disinterested directors.

2.2.

Restriction   on   Stock   Repurchases.   So   long   as   the   Borrower   shall   have   any

obligation   under   this   Note,   the   Borrower   shall   not   without   the   Holder ’ s   written   consent   redeem,

repurchase   or   otherwise   acquire   (whether   for   cash   or   in   exchange   for   property or   other   securities   or

otherwise)   in   any   one   transaction   or   series   of   related   transactions   any   shares   of   capital   stock   of   the

Borrower or any warrants, rights or options to purchase or acquire any such shares.

2.3.

[Intentionally Omitted].

2.4.

Sale   of   Assets.   So   long   as   the   Borrower   shall   have   any   obligation   under   this

Note,   the   Borrower   shall   not,   without   the   Holder ’ s   written   consent,   sell,   lease   or   otherwise   dispose

10

Convertible Note – PRLX, T1, 2019-02-27

of   any   significant   portion   of   its   assets   outside   the   ordinary   course   of   business.   Any   consent   to   the

disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

2.5.

Advances  and  Loans.  So  long  as  the  Borrower  shall  have  any   obligation

under   this   Note,   the   Borrower   shall   not,   without   the   Holder ’ s   written   consent,   lend   money,   give

credit  or  make  advances  to  any  person,  firm,  joint  venture  or  corporation,  including,  without

limitation,   officers,   directors,   employees,   subsidiaries   and   affiliates   of   the   Borrower,   except   loans,

credits  or   advances  in   existence   or   committed   on   the   date   hereof  and  which   the   Borrower   has

informed Holder in writing prior to the date hereof.

2.6.

Charter.    So   long as   the   Borrower   shall   have   any obligations   under   this   Note,

the   Borrower   shall   not   amend   its   charter   documents,   including   without   limitation   its   certificate   of

incorporation   and   bylaws,   in   any   manner   that   materially   and   adversely   affects   any   rights   of   the

Holder.

2.7.

Transfer Agent.    The   Borrower   shall not   change   its transfer   agent without the

prior   written   consent   of   the   Holder.     Any   replacement   of   the   transfer   agent   by   the   Borrower,   or

resignation   by   the   transfer   agent   without   a   replacement   transfer   agent   consented   to   by   the   Holder

prior to such replacement taking effect shall constitute an Event of Default hereunder.

2.8.

Section   3(a)(9)   or   3(a)(10)   Transaction.   S o   long   as   this   Note   is   outstanding,

the   Borrower   shall   not   enter   into   any   transaction   or   arrangement   structured   in   accordance   with,

based upon, or related or   pursuant to, in whole or in part, either Section 3(a)(9) of the Securities Act

(a   “ 3(a)(9)   Transaction ” )   or   Section   3(a)(l0)   of   the   Securities   Act   (a   “ 3(a)(l0)   Transaction ” ).   In   the

event   that   the   Borrower   does   enter   into,   or   makes   any   issuance   of   Common   Stock   related   to   a

3(a)(9)   Transaction   or   a   3(a)(10)   Transaction   while   this   Note   is   outstanding,   a   liquidated   damages

charge   of   25%   of   the   outstanding principal   balance   of   this   Note,   but   not   less   than   Fifteen   Thousand

Dollars $15,000, will be assessed and will become immediately due and payable to the Holder at its

election in the form of cash payment or addition to the balance of this Note.

ARTICLE III. EVENTS OF DEFAULT

Any one or more of   the following events which shall occur   and/or be   continuing shall

constitute an event of default (each, an “ Event of Default ” ):

3.1.

Failure   to   Pay   Principal   or   Interest. The   Borrower   fails   to   pay   the   principal

hereof    or    interest    thereon    when    due    on    this  Note,    whether    at    maturity,    upon    acceleration    or

otherwise.

3.2.

Conversion   and   the   Shares. The   Borrower   fails   to   issue   shares   of   Common

Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do so

at   any time   following   the   execution   hereof   or)   upon   exercise   by the   Holder   of   the   conversion   rights

of the Holder in accordance with the terms of this Note, fails to transfer or cause its transfer agent to

transfer   (issue)   (electronically   or   in   certificated   form)   any   certificate   for   shares   of   Common   Stock

issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by

this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its

transfer   agent   in   transferring   (or   issuing)   (electronically   or   in   certificated   form)   any   certificate   for

shares of Common Stock to be issued to the Holder upon conversion of or otherwise pursuant to this

Note   as   and   when   required   by   this   Note,   or   fails   to   remove   (or   directs   its   transfer   agent   not   to

11

Convertible Note – PRLX, T1, 2019-02-27

remove   or   impairs,   delays,   and/or   hinders   its   transfer   agent   from   removing)   any   restrictive   legend

(or   to   withdraw   any stop   transfer   instructions   in   respect   thereof)   on   any certificate   for   any shares   of

Common   Stock   issued   to   the   Holder   upon   conversion   of   or   otherwise   pursuant   to   this   Note   as   and

when required by this Note (or makes any written announcement, statement or threat that it does not

intend   to   honor   the   obligations   described   in   this   paragraph)   and   any   such   failure   shall   continue

uncured   (or   any   written   announcement,   statement   or   threat   not   to   honor   its   obligations   shall   not   be

rescinded   in   writing)   for   three   (3)   business   days   after   the   Holder   shall   have   delivered   a   Notice   of

Conversion.   It   is   an   obligation   of   the   Borrower   to   remain   current   in   its   obligations   to   its   transfer

agent. It shall be an event of default of this Note, if a conversion of this Note is delayed, hindered or

frustrated due to a balance owed by the Borrower to its transfer agent.   If at the option of the Holder,

the   Holder   advances   any   funds   to   the   Borrower ’ s   transfer   agent   in   order   to   process   a   conversion,

such   advanced   funds   shall   be   paid   by the   Borrower   to   the   Holder   within   forty   eight   (48)   hours   of   a

demand from the Holder.

3.3.

Breach   of   Covenants.   The   Borrower   breaches   any   material   covenant   or   other

material   term   or   condition   contained   in   this   Note   and   any   collateral   documents   including   but   not

limited   to   the   Purchase   Agreement   and   such   breach   continues   for   a   period   of   three   (3)   days   after

written notice (via email) thereof to the Borrower from the Holder.

3.4.

Breach   of Representations and Warranties. Any representation or   warranty of

the   Borrower   made   herein   or   in   any agreement,   statement,   certificate,    or   any other   document   given

in   writing   pursuant   hereto   or   in   connection   herewith   (including,   without   limitation,   the   Purchase

Agreement,   and/or   the   due   diligence   questionnaire   provided   by   the   Borrower   to   the   Holder   on   or

around   the   Issue   Date),   shall   be   false   or   misleading   in   any   material   respect   when   made   and/   or   the

breach of which has (or with the passage of time will have) a material adverse effect on the rights of

the Holder with respect to this Note or the Purchase Agreement.

3.5.

Receiver   or   Trustee.   The   Borrower   or   any   subsidiary   of   the   Borrower   shall

make   an   assignment   for   the   benefit   of   creditors,   or   apply   for   or   consent   to   the   appointment   of   a

receiver   or   trustee   for   it   or   for   a   substantial   part   of   its   property   or   business,   or   such   a   receiver   or

trustee shall otherwise be appointed.

3.6.

Judgments.   Any   money   judgment,   writ   or   similar   process   shall   be   entered   or

filed   against   the   Borrower   or   any   subsidiary   of   the   Borrower   or   any   of   its   property   or   other   assets

for more than $50,000.00, and shall remain unvacated, unbonded or unstayed   for a period of twenty

(20)   days   unless   otherwise   consented   to   by   the   Holder,   which   consent   will   not   be   unreasonably

withheld.

3.7.

Bankruptcy .     Bankruptcy,     insolvency,     reorganization     or     liquidation

proceedings   or   other   proceedings,   voluntary   or   involuntary,   for   relief   under   any   bankruptcy   law   or

any   law   for   the   relief   of   debtors   shall   be   instituted   by   or   against   the   Borrower   or   any   subsidiary   of

the Borrower.

3.8.

Delisting of Common Stock. The Borrower shall fail to maintain the listing of

the  Common  Stock  on  at  least  one  of  the  OTCBB,  or  OTCQB,  or  an  equivalent  replacement

exchange, NASDAQ, the NYSE or AMEX.

3.9.

Failure   to   Comply with   the   Exchange   Act.   The   Borrower   shall   fail   to   comply

in   any   material   respect   with   the   reporting   requirements   of   the   Exchange   Act;   and/or   the   Borrower

shall cease to be subject to the reporting requirements of the Exchange Act.

12

Convertible Note – PRLX, T1, 2019-02-27

3.10.       Liquidation.  Any   dissolution,   liquidation,   or   winding   up   of   Borrower   or   any

substantial portion of its business.

3.11.       Cessation    of    Operations.  Any    cessation    of    operations    by    Borrower    or

Borrower  admits  it  is  otherwise  generally  unable  to  pay  its  debts  as  such  debts  become  due,

provided,   however,   that   any   disclosure   of   the   Borrower ’ s   ability   to   continue   as   a   “ going   concern ”

shall not be an admission that the Borrower cannot pay its debts as they become due.

3.12.       Maintenance  of  Assets.  The  failure  by   Borrower,  during  the  term  of  this

Note,   to   maintain   any   material   intellectual   property   rights,   personal,   real   property   or   other   assets

which are necessary to conduct its business (whether now or in the future).

3.13.       Financial    Statement    Restatement.  The    restatement    of    any    financial

statements   filed   by   the   Borrower   with   the   SEC   for   any   date   or   period   from   two   years   prior   to   the

Issue Date of this Note   and until this Note is no longer outstanding, if the   result of such   restatement

would,   by   comparison   to   the   unrestated   financial   statement,   have   constituted   a   material   adverse

effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

3.14.       Reverse Splits. The Borrower effectuates a reverse split of its Common Stock

without twenty (20) days prior written notice to the Holder.

3.15.       Replacement   of   Transfer   Agent.   In   the   event   that   the   Borrower   proposes   to

replace    its    transfer    agent,    the    Borrower    fails    to    provide,    prior    to    the    effective    date    of    such

replacement,    a    fully    executed    Irrevocable    Transfer    Agent    Instructions    in    a    form    as    initially

delivered    pursuant    to    the    Purchase    Agreement    (including    but    not    limited    to    the    provision    to

irrevocably   reserve   shares   of   Common   Stock   in   the   Reserved   Amount)   signed   by   the   successor

transfer agent to Borrower and the Borrower.

3.16.       Cross-Default.  Notwithstanding  anything  to  the  contrary  contained  in  this

Note   or   the   other   related   or   companion   documents,   a   breach   or   default   by   the   Borrower   of   any

covenant   or   other   term   or   condition   contained   in   any   of   the   Other   Agreements,   after   the   passage   of

all   applicable   notice   and   cure   or   grace   periods,   shall,   at   the   option   of   the   Holder,   be   considered   a

default   under   this   Note   and   the   Other   Agreements,   in   which   event   the   Holder   shall   be   entitled   (but

in no event required) to apply all rights and remedies of the Holder under the terms of this Note and

the   Other   Agreements   by   reason   of   a   default   under   said   Other   Agreement   or   hereunder. “ Other

Agreements ”   means,   collectively,   all   agreements   and   instruments   between,   among   or   by:   (1)   the

Borrower,  and,   or   for   the   benefit   of,   (2)   the   Holder   and   any   affiliate   of   the   Holder,   including,

without   limitation,   promissory   notes;   provided,   however,   the   term   “ Other   Agreements ”   shall   not

include   the   related   or   companion   documents   to   this   Note.   Each   of   the   loan   transactions   will   be

cross-defaulted  with  each  other  loan  transaction  and  with  all  other  existing   and  future  debt  of

Borrower to the Holder.

Upon   the   occurrence   and   during   the   continuation   of   any Event   of   Default   specified   in   Article   III   of

the   Note   exercisable   through   the   delivery   of   written   notice   to   the   Borrower   by   such   Holders   (the

“ Default   Notice ” ),   the   Note   shall   become   immediately due   and   payable   and   the   Borrower   shall   pay

to   the   Holder,   in   full   satisfaction   of   its   obligations   hereunder,   an   amount   equal   to   the   greater   of   (i)

200% times the   sum of   (w)   the   then   outstanding   principal   amount   of   this   Note plus (x)   accrued   and

unpaid   interest   on   the   unpaid   principal   amount   of   this   Note   to   the   date   of   payment   (the   “ Mandatory

Repayment   Date ” ) plus ( y)   Default   Interest,   if   any,   on   the   amounts   referred   to   in   clauses   (w)   and/or

(x) plus ( z)  any  amounts  owed  to  the  Holder  pursuant  to  Section  and  1.4(g)  hereof  (the  then

outstanding   principal   amount   of   this   Note   to   the   date   of   payment plus t he   amounts   referred   to   in

13

Convertible Note – PRLX, T1, 2019-02-27

clauses   (x),   (y)   and   (z)   shall   collectively   be   known   as   the   “ Default   Sum ” )   or   (ii)   the   “ parity   value ”

of   the   Default   Sum   to   be   prepaid,   where   parity   value   means   (a)   the   highest   number   of   shares   of

Common    Stock    issuable    upon    conversion    of    or    otherwise    pursuant    to    such    Default    Sum    in

accordance    with    Article    I,    treating    the    Trading    Day    immediately    preceding    the    Mandatory

Repayment  Date  as  the   “ Conversion  Date ”  for  purposes  of  determining  the  lowest  applicable

Conversion   Price,   unless   the   Default   Event   arises   as   a   result   of   a   breach   in   respect   of   a   specific

Conversion   Date   in   which   case   such   Conversion   Date   shall   be   the   Conversion   Date), multiplied

by (b)   the   highest   Closing   Price   for   the   Common   Stock   during   the   period   beginning   on   the   date   of

first occurrence of the Event of Default and ending one day prior to the Mandatory Repayment Date

(the “ Default Amount ” ) and all other amounts payable hereunder shall immediately become due and

payable,  all  without  demand,   presentment  or   notice,   all  of   which   hereby   are   expressly   waived,

together   with   all   costs,   including,   without   limitation,   legal   fees   and   expenses,   of   collection,   and   the

Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

If   the   Borrower   fails   to   pay the   Default   Amount   within   five   (5)   business   days   of   written   notice   that

such   amount   is   due   and   payable,   then   the   Holder   shall   have   the   right   at   any   time,   so   long   as   the

Borrower   remains   in   default   (and   so   long   and   to   the   extent   that   there   are   sufficient   authorized

shares),   to   require   the   Borrower,   upon   written   notice,   to   immediately   issue,   in   lieu   of   the   Default

Amount,   the   number   of   shares   of   Common   Stock   of   the   Borrower   equal   to   the   Default   Amount

divided   by   the   Conversion   Price   then   in   effect.     The   Holder   may   still   convert   any   amounts   due

hereunder,   including   without   limitation   the   Default   Sum,   until   such   time   as   this   Note   has   been

repaid in full.

3.17.   Inside  Information.     The   Borrower   or   its   officers,   directors,   and/or   affiliates

attempt   to   transmit,   convey,   disclose,   or   any   actual   transmittal,   conveyance,   or   disclosure   by   the

Borrower   or   its   officers,   directors,   and/or   affiliates   of,   material   non-public   information   concerning

the  Borrower,  to  the  Holder  or  its  successors  and  assigns,  which  is  not  immediately   cured  by

Borrower ’ s filing of a Form 8-K pursuant to Regulation FD on that same date.

3.18   Bid  Price .    The  Borrower  shall  lose  the   “ bid ” price  for  its  Common  Stock

($0.0001  on  the   “ Ask ”  with  zero  market  makers  on  the   “ Bid ”  per  Level  2)  and/or  a  market

(including the OTC Pink, OTCQB or an equivalent replacement exchange).

3.  19   Market  Loss.  If  at  any   time  while  this  Note  is  outstanding   the  Borrower ’ s

Common   Stock   trades   below   $0.01   for   five   (5)   consecutive   Trading   Days,   the   principal   amount   of

the   Note   shall   automatically   and   without   further   action   increase   by   twenty-five   thousand   dollars

($25,000.00),   and   at   the   sole   option   of   the   Holder,   the   Company   shall   within   fifteen   (15)   calendars

days from Holder ’ s direction to so, obtain the necessary shareholder and board of director approvals

(if applicable), and file the requisite documents with FINRA, to effectuate a reverse split.

ARTICLE IV. MISCELLANEOUS

4.1.

Failure   or   Indulgence   Not   Waiver.   No   failure   or   delay   on   the   part   of   the

Holder   in   the   exercise   of   any   power,   right   or   privilege   hereunder   shall   operate   as   a   waiver   thereof,

nor shall any single or partial exercise of any such power, right or privilege preclude other or further

exercise    thereof    or    of    any  other    right,    power    or    privileges.    All    rights    and    remedies    existing

hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

4.2.

Notices.    All    notices,    demands,    requests,    consents,    approvals,    and    other

communications   required   or   permitted   hereunder   shall   be   in   writing   and,   unless   otherwise   specified

herein, shall be   (i) personally served,   (ii) deposited in the mail, registered   or certified,   return   receipt

14

Convertible Note – PRLX, T1, 2019-02-27

requested,   postage   prepaid,   (iii)   delivered   by   reputable   air   courier   service   with   charges   prepaid,   or

(iv)   transmitted   by   hand   delivery,   telegram,   email   or   facsimile,   addressed   as   set   forth   below   or   to

such   other   address   as   such   party shall   have   specified   most   recently by written   notice.   Any notice   or

other   communication   required   or   permitted   to   be   given   hereunder   shall   be   deemed   effective   (a)

upon   hand   delivery   or   delivery   by   facsimile   or   email,   with   accurate   confirmation   generated   by   the

transmitting   facsimile   machine   or  computer,  at  the   address,  email  or   number   designated  in  the

Purchase   Agreement  (if  delivered   on  a   business  day   during   normal  business  hours  where   such

notice is to be received), or the first business day following such delivery (if delivered other than on

a   business   day   during   normal   business   hours   where   such   notice   is   to   be   received)   or   (b)   on   the

second    business    day  following  the    date    of    mailing  by  express    courier    service,    fully  prepaid,

addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.

4.3.

Amendments.   This   Note   and   any   provision   hereof   may   only   be   amended   by

an   instrument   in   writing signed   by the   Borrower   and   the   Holder.   The   term   “ Note ”   and   all   reference

thereto,   as   used   throughout   this   instrument,   shall   mean   this   instrument   (and   the   other   Notes   issued

pursuant   to   the   Purchase   Agreement)   as   originally   executed,   or   if   later   amended   or   supplemented,

then as so amended or supplemented.

4.4.

Assignability .    This    Note    shall    be    binding    upon    the    Borrower    and    its

successors and assigns, and shall inure to be the benefit of the Holder and its successors and assigns.

Each transferee of this Note must be an “ accredited investor ” (as defined in Rule 501(a) of the 1933

Act).   Notwithstanding   anything   in   this   Note   to   the   contrary,   this   Note   may   be   pledged   as   collateral

in connection with a bona fide margin account or other lending arrangement.

4.5.

Cost  of  Collection .  If  default  is  made  in  the  payment  of  this  Note,  the

Borrower shall pay the Holder hereof costs of collection, including reasonable attorneys ’ fees.

4.6.

Governing Law . This   Note shall be   governed by and construed   in accordance

with   the   laws   of   the   State   of   Nevada   without   regard   to   conflicts   of   laws   principles   that   would   result

in the application of the substantive laws of another jurisdiction.  Any action brought by either party

against   the   other   concerning the transactions   contemplated   by this   Agreement   must   be   brought   only

in   the   civil   or   state   courts   of   New   York   or   in   the   federal   courts   located   in   the   State   and   county   of

New York.  Both parties   and the individual signing this Agreement on behalf of the   Borrower   agree

to   submit   to   the   jurisdiction   of   such   courts.  The   prevailing   party   shall   be   entitled   to   recover   from

the   other   party its   reasonable   attorney ’ s   fees   and   costs.  In   the   event   that   any provision   of   this   Note

is   invalid   or   unenforceable   under   any   applicable   statute   or   rule   of   law,   then   such   provision   shall   be

deemed   inoperative   to   the   extent   that   it   may   conflict   therewith   and   shall   be   deemed   modified   to

conform    with    such    statute    or    rule    of    law.    Any    such    provision    which    may    prove    invalid    or

unenforceable   under   any   law   shall   not   affect   the   validity or   unenforceability of   any other   provision

of   this   Note.   Nothing   contained   herein   shall   be   deemed   or   operate   to   preclude   the   Holder   from

bringing suit   or   taking other   legal   action   against   the   Borrower   in   any other   jurisdiction   to collect   on

the   Borrower ’ s   obligations   to   Holder,   to   realize   on   any   collateral   or   any   other   security   for   such

obligations,   or   to   enforce   a   judgment   or   other   decision   in   favor   of   the   Holder.  This   Note   shall   be

deemed  an  unconditional  obligation  of  Borrower  for  the  payment  of  money  and,  without

limitation   to   any   other   remedies   of   Holder,   may   be   enforced   against   Borrower   by   summary

proceeding pursuant to New York Civil Procedure Law and Rules Section 3213 or any similar

rule   or   statute   in   the   jurisdiction   where   enforcement   is   sought.  For   purposes   of   such   rule   or

statute, any other document or agreement to which Holder and Borrower are parties or which

15

Convertible Note – PRLX, T1, 2019-02-27

Borrower   delivered   to   Holder,   which   may   be   convenient   or   necessary   to   determine   Holder ’ s