Common use of Authorized Capitalization Clause in Contracts

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at par value $.0001 per share, of which not more than 27,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closing.

Authorized Capitalization. As provided in its Articles of Incorporation, the The authorized capital stock of the Company consists of 200,000,000 common 50,000,000 shares of common stock at par value $.0001 per share, of which not more than 27,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 sharesCommon Stock, par value $.0001 .01 per share, are designated as preferred stockand 5,000,000 shares of Preferred Stock, none $.01 par value. None of which the shares of Preferred Stock are issued or outstanding or will be at Closingand outstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at par value $.0001 per share, of which not more than 27,000,000 29,145,932 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closing.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at par value $.0001 per share105,000,000 shares, of which not more than 27,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 100,000,000 shares, par value $.0001 .001 per share, are designated as common stock, and 5,000,000 shares, par value $.001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closingoutstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common 100,000,000 shares of common stock at stock, $.001 par value $.0001 per sharevalue, of which not more than 27,000,000 shares will be issued and outstanding prior to the Closing 450,250 are outstanding, and 50,000,000 sharesshares of non-cumulative, par value $.0001 per share, are designated as non-voting convertible preferred stock, none of which are have been issued or outstanding or will be at Closingare outstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at par value $.0001 per share60,000,000 shares, of which not more than 27,000,000 50,000,000 shares, no par value, are designated as common stock, of which 1,000,000 shares will shall be issued and outstanding prior to the Closing at Closing; and 50,000,000 10,000,000 shares, no par value $.0001 per sharevalue, are designated as preferred stock, none of which are issued or outstanding or will be at Closingoutstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at par value $.0001 per share125,000,000 shares, of which not more than 27,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 100,000,000 shares, par value $.0001 .001 per share, are designated as common stock, of which 2,000,000 shares, giving effect to shares issued and the Standing Option, are or will be issued and outstanding; and 25,000,000 shares, par value $.001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closingoutstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common shares of common stock at stock, $.0005 par value $.0001 per sharevalue, of which not more than 27,000,000 15,871,792 shares will be issued and outstanding are outstanding, prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closingclosing contemplated in the Agreement.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 100,000,000 common shares of common stock at par value $.0001 per share, of which not more than 27,000,000 61,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closing.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common 50,000,000 shares of common stock at stock, $.001 par value $.0001 per sharevalue, of which not more than 27,000,000 4,320,000 are outstanding, and 5,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as of undesignated preferred stock, $.001 par value, none of which are issued or outstanding or will be at Closingoutstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 100,000,000 common shares of common stock at par value $.0001 per share, of which not more than 27,000,000 55,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as preferred stock, none of which are issued or outstanding or will be at Closing.

Authorized Capitalization. As provided in its Articles of Incorporation, the authorized capital stock of the Company consists of 200,000,000 common 50,000,000 shares of common stock at stock, $.001 par value $.0001 per sharevalue, of which not more than 27,000,000 320,000 are outstanding, and 5,000,000 shares will be issued and outstanding prior to the Closing and 50,000,000 shares, par value $.0001 per share, are designated as of undesignated preferred stock, $.001 par value, none of which are issued or outstanding or will be at Closingoutstanding.

Authorized Capitalization. As provided in its Articles of Incorporation, the The authorized capital stock capitalization of the Company consists of 200,000,000 common is 1,100,000 shares of common stock at stock, no par value $.0001 per share(the "Company Common Stock"). A total of 1,075,000 Shares of Company Common Stock are issued, of which not more than 27,000,000 1,014,825 are outstanding and 60,175 shares will be are held as treasury stock as of September 19, 1997. All of such issued and outstanding prior to the Closing Shares have been duly authorized and 50,000,000 shares, par value $.0001 per share, validly issued and are designated as preferred stock, none of which are issued or outstanding or will be at Closingfully paid and nonassessable.