Common use of Authorized and Outstanding Shares Clause in Contracts

Authorized and Outstanding Shares. The authorized capital stock of the Company consists of ten million (10,000,000) shares of common stock, without par value, of which 5,931,145 shares are issued and outstanding and constitute the Shares. All of the Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are owned of record and beneficially by the Selling Shareholders in the respective amounts set forth in Section 3.02(a) of the Disclosure Schedule.

Authorized and Outstanding Shares. The authorized capital stock of the Company consists of ten 150 million (10,000,000) shares of common stock, without $.001 par value, and 5 million shares of which 5,931,145 preferred stock, $.001 par value. There are 61,883,591 shares are issued of common stock and outstanding and constitute the Shares. All 500 shares of the Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are owned of record and beneficially by the Selling Shareholders in the respective amounts set forth in Section 3.02(a) of the Disclosure ScheduleSeries E Preferred Stock outstanding.

Authorized and Outstanding Shares. The authorized capital stock of the Company consists of ten million one thousand (10,000,0001,000) shares of common stock, without stock with par value, value of which 5,931,145 one hundred (100) shares are issued and outstanding and constitute or subject to options. Seller owns one hundred (100) shares of Company’s common stock which represents all of the Sharesoutstanding capital stock of the Company. All of the Shares outstanding shares of Company’s common stock have been duly authorized, are validly issued, fully paid and non-assessable, and are owned were not issued in violation of record and beneficially by the Selling Shareholders in the respective amounts set forth in Section 3.02(a) of the Disclosure Scheduleany preemptive rights.

Authorized and Outstanding Shares. The Company’s authorized capital stock of the Company consists of ten million (10,000,000) shares 250,000,000 Shares of common stock and 20,000,000 Shares of Preferred stock, without par value, of which 5,931,145 156,777,900 Shares of common stock and no shares of Preferred stock are issued and outstanding and constitute the Sharesoutstanding. All of the Shares have been duly authorized, are to be issued hereunder by Issuer will be validly issued, fully paid and non-assessablenonassessable. There are no outstanding subscriptions, and are owned of record and beneficially by options, warrants, rights, convertible securities or other agreements or commitments obligating the Selling Shareholders in the respective amounts set forth in Section 3.02(a) of the Disclosure ScheduleCompany to issue additional Shares.