Conversion at the Option of the Holder. Each holder of shares of Series A Preferred Stock may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares of Series A Preferred Stock into a number of fully paid and non-assessable shares of series A Common Stock determined in accordance with the following formula: 153.5 shares of Series A Common Stock for each one share of Series A Preferred Stock.
Appears in 2 contracts
Samples: Administrative Services Agreement (Ivoice, Inc /Nj), Agreement and Plan of Merger (Ivoice, Inc /Nj)
Conversion at the Option of the Holder. Each holder of shares of Series A B Preferred Stock may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares any share of Series A B Preferred Stock into a number of one fully paid and non-assessable shares nonassessable share of series A Common Stock determined in accordance with by paying the following formula: 153.5 shares of Series A Common Stock Conversion Price for each one share of Series A Preferred StockStock so converted.
Appears in 1 contract
Samples: Securities Purchase Agreement (Heartland Oil & Gas Corp)
Conversion at the Option of the Holder. Each holder of shares of Series A Preferred Stock may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares any share of Series A Preferred Stock into a number of one fully paid and non-assessable shares nonassessable share of series A Common Stock determined in accordance with by paying the following formula: 153.5 shares of Series A Common Stock Conversion Price for each one share of Series A Preferred StockStock so converted.
Appears in 1 contract
Samples: Securities Purchase Agreement (Heartland Oil & Gas Corp)
