On March 6, 2023, Altitude International Holdings, Inc., Altitude Hospitality, LLC and Trident Water, LLC, together with the company's wholly owned subsidiaries entered into a Settlement Agreement with FVP Servicing, LLC (FVP) (the Lenders). The Settlement Agreement relates to events of default by the Company under that certain Amended and Restated Loan Agreement (the September Loan Agreement") executed on September 2, 2022 with FVP and the Lenders. Under the terms of the Settlement Agreement, the Company agreed to assign 100% of the membership interests of Altitude Hospitality, LLC to FVP's designee.

In consideration for the assignment of the membership interests of Altitude Hospitality, LLC, the existing debt owed by the Company to the Lenders under the September Loan Agreement was reduced by an amount of $18,255,476.11 (the Partial Satisfaction Amount"). The Loan Parties also agreed to enter into a new loan agreement (the New Loan Agreement") in favor of the Lenders with a principal amount of $750,000 to be used to pay off all existing amounts due under the September Loan Agreement. Upon the execution of the Settlement Agreement and the New Loan Agreement, all remaining existing debt owed by the Loan Parties under the September Loan Agreements was satisfied in full and the September Loan Documents terminated, subject to certain limited contingent indemnification obligations that survive the termination and repayment.

The manager of Altitude Hospitality resigned from Altitude Hospitality as required by the Settlement Agreement. Gregory Breunich will continue to serve as the Company's CEO and Chairman. New Loan Agreement: On March 6, 2023, the company and Trident Water, LLC, entered into a New Loan Agreement with FVP and the Lenders.

The proceeds of the New Loan Agreement, in the original principal amount of $750,000.00, were disbursed to fully pay and settle the September Loan Agreement. Under the terms of the New Loan Agreement, the maturity date of the loan is June 30, 2025 and the Company and the Loan Parties agreed to pay an interest rate of twelve %(12%) per annum. Through September 2024, the Company shall make interest only payments under the Loan Agreement, after which it will make payments of $7,500 per month plus accrued interest until the maturity date, at which point all amounts due under the New Loan Agreement shall be paid.