We are a growing platform services company primarily providing content streaming/telecasting services with over 8 million active users located all across India(1). Our scope of business also covers telemedicine services with local assistance through local Health Centers. Through our platform, our customers are well connected via customer premises equipment (“CPE”) devices/set top boxes (“STBs) and have access to multi-dimensional services including telemedicine service. Our customer base and expansive market presence position us to widen our portfolio of offerings. We have been focused on adopting and implementing technologies that can change the landscape of being a conventional streaming services provider. We intend to benefit from India’s e-commerce boom and the recent tele-medicine regulation through the acquisition of Global Health Sciences, Inc. (“GHSI”). The management of GHSI has many years of pioneering experience of the management in tele-medicine in USA, which we believe will help us create a profitable and sustainable business model with rapid growth prospects. We believe that our deep understanding and local expertise have enabled us to create solutions that address the needs and preferences of our consumers in the most comprehensive and efficient way. We possess extensive local knowledge of the markets in which we operate, which we consider to be a key component of our success. Lytus Technologies Holdings PTV. Ltd. (“Lytus”, “Lytus Group”) is a holding company incorporated under the laws of British Virgin Islands (“BVI”) on March 16, 2020. On March 19, 2020, we acquired all of the equity share capital of Lytus Technologies Private Limited (“Lytus India”), an Indian company. On March 31, 2020, Lytus acquired 51% of the equity shares from the present shareholders of DDC CATV Network Private Limited (“DDC”). On October 30, 2020, the Company entered into a share purchase agreement with Global Health Sciences, Inc. (“GHSI”) and the shareholder of GHSI, pursuant to which the Company acquired 75% of the equity interest in GHSI. --- The acquisition of Lytus India was from a related party, Nimish Pandya, the brother of our CEO, Dharmesh Pandya. In addition, the Company has acquired 51% of the total issued and outstanding shares of DDC, which involved (a) the assignment of the rights under the agreement entered into between Lituus Technologies Limited (“LTL”), wherein Dharmesh Pandya was then the CEO of, and the shareholders of DDC India; and (b) the assignment of the rights under the agreement entered into between Jagjit Singh Kohli, who was appointed as our director on April 1, 2020, and the shareholders of DDC. While Lytus Group was restructured in 2020, DDC has been operation for more than five years. We have established a strong customer base and obtained significant market share through our acquisition of the customers of Reachnet Cable Services Pvt. Ltd. (“Reachnet”), a long-standing cable services company in India. Reachnet is also a Multi System Operator (MSO) in the business of telecasting/streaming of broadcast channels (both owned as well as redistributed) to subscribers for a subscription charge depending upon the services and content chosen by the subscriber. Reachnet also owns and operates fiber optic cable networks with offices in various major cities across the country. These networks are used by Reachnet to offer its services to Lytus India’s subscribers. Reachnet also offers its cable network along with management personnel and subscriber management services to third party service providers for a fee. It has an extensive infrastructure and logistics set-up in various cities for provision of telecasting/streaming services to their erstwhile subscribers. Under the terms of the customer acquisition agreement (the “Customer Acquisition Agreement”) between Reachnet and Lytus India dated June 20, 2019, these approximately 1.8 million customers legally belong to Lytus India. These customers are not and will not be Reachnet’s customers for internet access as well as services other than telecast/streaming provided by the Company to its customers. Reachnet has no ownership rights over these customers and all telecast services provided by Reachnet on behalf of the Company, are in the capacity of a third party independent service provider. The arrangement between Lytus India and Reachnet mandates Reachnet, as a third-party service provider, to maintain the infrastructure required to continue telecast services to the customers for which it is paid 61% revenue collected only from the provision of telecast services. All the services (including the internet service) are, as a matter of fact and in law, provided by the Company to its subscribers. Revenue generated upon launch of the telemedicine, OTT and other services in India will belong 100% to the Company. Lytus’ customers will be able to access the OTT services at an additional cost in the following ways: 1. Through an app installed on the Set Top Box in the customer’s home which also provide telecast services. 2. Through a web portal using either a computer or tablet. 3. Through apps downloaded from the iOS and or Android store. The Company has acquired all subscribers of Reachnet for a lumpsum consideration and with the condition that the Company will have control and unconditional entitlement rights over the revenues generated from or related to these subscribers. In light of the above, the Company has 100% control of and 100% entitlement rights over the revenues accruing and arising to the Company from its subscribers. Reachnet has no control, ownership or entitlement rights over revenue generated from the Company’s subscribers. The service agreement entered into with Reachnet, obligates Reachnet to retain its infrastructure to provide streaming/telecast services and provide such services to the Company’s subscribers on an on-going basis without disruption or interruption, under the Company’s control, management and supervision. The service charge for providing these services is determined at arm’s length. According to local industry practice, the average industry EBITDA for cable service companies in India is approximately 57% of total streaming revenues. Since the Company intends to work with Reachnet as a strategic partner over the next several years, the Company has agreed to pay Reachnet a service fee at a variable percentage of 61% of the Company’s total streaming/telecast revenue. On February 5, 2021, Lytus India and Reachnet entered into the Third Supplemental Agreement to the Customer Acquisition Agreement, pursuant to which the parties have agreed to, on a good faith basis, settle payments upon completion of a third party’s systems and operational review of Reachnet and its subscribers. The commercial terms to the agreement remain intact and are not subject to any contingency. The Company engaged an independent third-party reviewer/consultant to carry out a systems audit of Reachnet’s on December 10, 2020. The review commenced on April 1, 2021, and was interrupted on account of intermittent COVID-19 related lockdowns nationwide through January 2022. While a substantial portion of the audit was completed, certain portions of the review remained incomplete. With the impending relaxation of lockdowns, it is expected that the review will likely be completed by April 15, 2022 assuming no additional COVID or resource delays. As of September 30, 2021, the Company is obligated to pay $29,796,215 (current portion) to Reachnet and Reachnet has agreed to pay $36,853,687 to the Company which it has currently collected from customers and holds on behalf of the Company. The Company has not yet paid the consideration owed to Reachnet under the Customer Acquisition Agreement, and Reachnet has not provided to the Company the revenue it has collected from the acquired customers since April 1, 2019. Per the agreement dated July 31, 2020, these payments will be paid at a mutually agreed date after third party operations review has been completed and the independent consultant’s report is provided to the Company. From an operations perspective, there was no significant impact on the Company as the number of subscribers remained unchanged. Reachnet continued to collect fees from the Company’s customers in the interim and was paid its 61% of collected revenue in the interim period. Accordingly, the Company represented that there was no significant operational impact resulting from the deferred settlement agreement. It is expected that the Company’s cash position would be significantly enhanced upon settlement of the payments. In addition, we have scaled and intend to continue to scale our platform through the pursuit of selective acquisitions. We believe our acquisitions of Lytus India and DDC have expanded our distribution capabilities and broadened our service offerings. We have aggregated customers from several service providers and other businesses by bring them on to the Lytus platform. We provide services to our customers through access to a network of 25,000 kilometers of deployed fiber and broadband infrastructure in accordance with our service agreement with our partner. Since our inception we have consistently expanded our network capabilities and offerings while growing our customer base. Lytus India provides technology enabled customer services, which includes content streaming/telecast services. The present device/STB is being further upgraded to support the unified and integrated platform through which it shall provide multi-dimensional services such as MedTech IOT (IOT refers to the Internet of Things), etc. DDC is a licensed MSO in the business of telecasting/streaming of broadcast channels (both owned channels as well as redistribution) to subscribers for a subscription charge depending upon the services and content chosen by the subscriber. In India the regulation does not differentiate between telecasting and streaming as long as the streaming is done in Internet Protocol television (IPTV) format. Lytus has the expertise and has plans to offer additional value-added services such as MedTech IOT, by upgrading the existing cable networks. The upgrade primarily consists of deploying FTTH GPON and changing the existing STB/CPE. Lytus India provides streaming/telecast services to the customers we acquired from Reachnet. DDC has been providing streaming/telecast services to its customers in New Delhi region for several years and will continue to do so independently of Lytus India and Reachnet. Along with a strong India focus, we expect to grow our international presence in regions such as Africa, Indonesia, UK, and the USA. GHSI was formed in 2020 and had no business operations prior to our acquisition. On October 30, 2020, the Company entered into a share purchase agreement and acquired 75% of the equity interest in GHSI. After the completion of acquisition, GHSI brought in the key management team and acquired important contracts. GHSI’s telemedicine service aims to provide management and technology solutions to hospital networks, university medical schools, physician networks and individual practices in the U.S. Its proprietary delivery platform uses digital communication technologies using medical monitoring devices, video capabilities and data capture methodologies. The platform also uses AI Ecosystem Assets including Conversational Computing, Intelligent Robotic Process Automation (iRPA), and Machine Learning (ML). This platform is currently rolled out in New Jersey, Illinois, Florida and Texas with approximately 125 medical physicians using our system for approximately 3000 users via hospital and clinic networks. GHSI’s business is focused on remote patient monitoring devices. These devices installed at the homes of the patients of participating physicians practices are sourced from various Health Insurance Portability and Accountability Act (HIPAA) and FDA compliant vendors. These devices have the monitoring and reporting software pre-installed in them. GHSI currently has not developed any proprietary software that is deployed with patients in the USA. While the revenue generated by these devices are currently not significant from and organizational perspective, GHSI expects to roll out these devices to additional patients in the near future. We expect that the additional rollout of devices will generate significant revenue for the Company. In India, Lytus’ telemedicine business, through Lytus India, has commenced repurposing its existing Local Cable Operator Network infrastructure to set up Local Health Centers/diagnostic centers (LHC). There is scheduled to be one dedicated LHC for every 5000 customers and this LHC will be staffed with trained healthcare professionals. LHCs will support customers with additional patient services that cannot be remotely provided through device strategy. Typical services provided at the LHCs will include ECGs, blood and urine testing, ultrasound scans etc. The LHC network will act as an important link between patients, doctors and supporting hospital partners for better integration. The Company also intends to leverage the LHC network for pharmaceutical delivery. The telemedicine service in India operates under a different model. The technology platform used to book doctor appointments and video conference with doctors collects data and then connects the patient to a captive team of physicians which provide the medical consulting service. The technology platform used by the India telemedicine team is proprietary and developed by Lytus India. The Company does not itself obtain or contract for the content it uses currently. The content provided to our customers is through the license agreement that DDC currently has with broadcasters such as ESPN, SonyTV, ZEE TV and BBC(2). --- (1) Calculation based upon approximately 1.8 million paid home subscribers which based on industry standards translates to more than 8 million viewers on an average of 4.6 viewers per household in India. Source: United Nations, Department of Economic and Social Affairs, Population Division (2019) — Database on Household Size and Composition 2019. Available: https://population.un.org/Household/index.html#/countries/356 (2) “The Company has two Indian subsidiaries: Lytus India and DDC. DDC is an active cable company and has agreements with broadcasters for content delivery and distribution. For revenues, it has entered into customer contracts for cable services." Our headquarters is located at 601 Everest Grande, A Wing Mahakali Caves Road, Andheri (East), Mumbai, India.