11Company Capitalization Sample Clauses

11Company Capitalization. The authorized capital stock of Kicksend consists of 25,000,000 shares of Kicksend Capital Stock, $0.0001 par value per share, of which (a) 20,000,000 shares of Kicksend Capital Stock are designated as common stock (the “Kicksend Common Stock”) and (b) 5,000,000 shares of Kicksend Capital Stock are designated as preferred stock, containing such rights, privileges and designations as the Kicksend Board of Directors may from time to time designate (the “Kicksend Preferred Stock”). As at the date of this Agreement, there is an aggregate of 9,000,000 shares of Kicksend Common Stock issued and outstanding, all of which shares of Kicksend Common Stock are owned by Marlborough. No shares of Kicksend Preferred Stock are currently issued or outstanding. As at the date of this Agreement, Kicksend has reserved for issuance (i) an additional 1,000,000 shares of Kicksend Common Stock for issuance upon conversion into Kicksend Common Stock of the Purchase Notes, and (ii) an additional 1,111,111 shares of Kicksend Common Stock for issuance upon exercise of the Kicksend Warrants.