PERFI8TH INC.

PERFI8TH INC., is a Delaware Charitable Nonstock Corporation that is exempt from taxation under § 501(c)(3) of the United States Internal Revenue Code [26 U.S.C. § 501(c)(3)]. PERFI8TH INC. is primarily organized and operated for fundamental research and has been approved to be a nonprofit research organization by the Internal Revenue Service (IRS), under IRC 501(c)(3), that is primarily engaged in basic research (8 CFR 214.2(h)(19)(iv)(A)) that is carried on for the purpose of aiding in the scientific education of college or university students (26 CFR 1.501(c)(3)-1(d)(5)(iii)(c)(1)) and has been approved as a tax exempt organization for research or educational purposes by the Internal Revenue Service (8 CFR 214.2(h)(19)(iv)(B)).

In compliance with 26 CFR 1.501(c)(3)-1, PERFI8TH INC. is a nonprofit organization organized and operated for scientific, educational and charitable purposes. As defined by 26 CFR 1.501(c)(3)-1(d)(5)(i). PERFI8TH INC. may meet the requirements of section 501(c)(3) only if it serves a public rather than a private interest. PERFI8TH INC., a scientific organization, must be organized and operated in the public interest. Therefore, the term scientific, as used in section 501(c)(3), includes the carrying on of scientific research in the public interest. Research when taken alone is a word with various meanings; it is not synonymous with scientific; and the nature of particular research depends upon the purpose which it serves. For research to be scientific, within the meaning of section 501(c)(3), it must be carried on in furtherance of a scientific purpose. The determination as to whether research is scientific does not depend on whether such research is classified as fundamental or basic as contrasted with applied or practical. On the other hand, for purposes of the exclusion from unrelated business taxable income provided by section 512(b)(9), it is necessary to determine whether the organization is operated primarily for purposes of carrying on fundamental, as contrasted with applied, research. In compliance with 20 CFR 656.40(e)(1)(iii). Nonprofit research organization means a research organization that is either a nonprofit organization or entity primarily engaged in basic research. Basic research is general research to gain more comprehensive knowledge or understanding of the subject under study, without specific applications in mind. Basic research is also research that advances scientific knowledge, but does not have specific immediate commercial objectives although it may be in fields of present or commercial interest. It may include research and investigation in the sciences, social sciences, or humanities.