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Business Description

We were incorporated in the country of Canada on August 16, 1993 and changed our name on April 2, 2014 Our principal business address is 8360 Bougainville Street, Suite 201, Montreal, Quebec, Canada, H4P 2G1 We do business under the name "Mad Science" A list of our agents for service of process in various states is contained in Exhibit C to this Disclosure Document Terms used in this Disclosure Document have the same meaning as they do in the Franchise Agreement attached as Exhibit B to this Disclosure Document

Prior Experience

Our parent company is 3908160 Canada Inc , which also has its principal place of business at 8360 Bougainville Street, Suite 201, Montreal, Quebec, Canada, H4P 2G1 Our parent company does not exercise control over the policies and direction of the franchise system It does not operate a business of the type being franchised under the Mad Science trademark and has never offered franchises in any line of business We have no predecessors Our Affiliate, Mad Science Licensing Inc, owns the Mad Science System and Marks and has licensed us to grant franchises allowing for their use in the operation of Mad Science businesses Its principal place of business is 8360 Bougainville Street, Suite 201, Montreal, Quebec, Canada, H4P 2G1 It was previously named Mad Science Productions Inc , does not operate a business of the type being franchised under the Mad Science trademark and has never offered franchises in any line of business We have an affiliate company in the United States, Edutain Learn, Inc , a Delaware corporation formed February 3, 2016 Its principal place of business is 37 Whitcomb Street, Waltham, Massachusetts It was formed to reacquire a Boston area Mad Science franchise It has never offered franchises in any line of business Our Affiliate, Imagine Arts Academy, Inc , a Canadian corporation formed June 5, 2018, has been established for the purpose of granting franchises for children's art enrichment businesses which service Birthday Parties, After School Programs, Pre-School Programs, Workshops, Camps and Special Events for children from 3 to 12 years old ("Imagine Arts Academy) It launched its Imagine Arts Academy franchise program in late 2018 It does not operate a business of the type being franchised under the Mad Science trademark Its principal place of business is 8360 Bougainville Street, Suite 201, Montreal, Quebec, Canada, H4P 2G1

Business Offered

Each Mad Science Franchise is licensed to use a distinctive System ("System") The distinguishing characteristics of the System include specially scripted and outlined interactive science activities for children, specially developed course materials, exclusively designed signage and materials, the Mad Science Confidential Operations Manual, the Standard Operating Policies Manual and other written specifications/standards from us (combined as the “Manuals”), methods for inventory and cost controls, record keeping and reporting, personnel management, purchasing, sales promotion, and advertising We may change the System periodically The Mad Science Franchise will operate under the service marks, “MAD SCIENCE” and "MAD SCIENCE & DESIGN", associated logos, commercial symbols and other trade names, service marks and trademarks designated by us as part of the System ("Mark[s]") Please also note that we provide compensation, in certain circumstances, to existing franchisees who identify and refer to us prospective franchisees who purchase a Mad Science franchise and/or who are identified as a helpful resource in the process This program is subject to terms and conditions as we deem appropriate and may be terminated at any time

Initial Fees

When you sign the Franchise Agreement, you must pay to us a non-refundable initial Franchise Fee ("Franchise Fee") as stated below The initial Franchise Fee is $25,000 U S Dollars, and is due in full at the time you sign the Franchise Agreement "Dollars" and any reference to money throughout this Disclosure Document means the legal currency of the United States We have occasionally permitted some franchisees on a case by case basis to defer payment of some portion of the franchise fee on an interest free basis to one or more later dates We may choose to do so in the future if we determine the circumstances warrant it, which will be solely our decision he Franchise Fee is based on a territory ("Territory") containing no less than 100,000 children If you negotiate with us to buy an additional territory or a territory with more children, then you will pay an amount greater than the initial Franchise Fee, as you and we may negotiate There is no specific price formula that we use in those circumstances The number of children in a territory is determined by the elementary school population of public and private schools obtained from the United States Department of Education National Center for Education Statistics and occasionally from the census bureau and state governments for more detailed information on ages and grade levels If you are a Mad Science franchisee whose Franchise Agreement is scheduled to expire within the next 12 months, you may apply for another Mad Science franchise to take effect at expiration If you meet our then-current qualifications and are accepted as a franchisee to operate in the same Temtory as your previous franchised business, you will sign our then-current Franchise Agreement and we will give you a discount of 60% off of the then-current initial Franchise Fee Our then-current Franchise Agreement may have financial and other terms that are materially different than those in the original contract The initial Franchise Fee is non-refundable under any circumstances Except as provided above, the Franchise Fee is uniform to all franchisees under this offering

Financing

We and our Affiliates do not offer direct or indirect financing We and our Affiliates do not guarantee your note, lease or obligation

Franchisee Revenue and Profit

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