Common use of Capitalization of the Company and its Subsidiaries Clause in Contracts

Capitalization of the Company and its Subsidiaries. (a) The authorized capital stock of the Company consists of 18,000,000 shares of Company Common Stock, of which, as of February 5, 2001, 7,145,347 shares were issued and outstanding, and 2,000,000 shares of Preferred Stock, no shares of which are issued or outstanding. All outstanding shares of Company Common Stock have been validly issued, and are fully paid, nonassessable and free of preemptive rights. As of February 6, 2001, 1,098,821 shares of Company Common Stock were reserved for issuance and issuable upon, or otherwise deliverable in connection with, the exercise of outstanding Company Stock Options. Except as set forth in Section 3.2(a) of the Disclosure Schedule, since March 31, 2000 (A) no shares of the Company's capital stock have been issued other than pursuant to Company Stock Options already in existence on such date or pursuant to the Stock Purchase Plan and (B) no stock options have been granted. As of the date hereof, 120,000 shares of Company Common Stock were reserved for issuance and issuable upon, or otherwise deliverable in connection with, the exercise of outstanding Warrants.

Capitalization of the Company and its Subsidiaries. (a) The authorized capital stock of the Company consists of 18,000,000 20,000,000 shares of Company Common StockClass A common stock, of which, as of February 5March 10, 20011999, 7,145,347 4,772,205 shares were issued and outstanding, 40,000 shares of Class B common stock, all of which, as of March 10, 1999, were issued and outstanding and 2,000,000 shares of Preferred Stockpreferred stock, no shares of which are issued or outstandingoutstanding (collectively the "Company Common Stock"). All outstanding of the shares of Company Common Stock have been validly issued, and are fully paid, nonassessable and free of preemptive rights. As of February 6March 10, 20011999, 1,098,821 834,640 shares of Company Common Stock were reserved for issuance and issuable upon, or otherwise deliverable in connection with, the exercise of outstanding Company Stock Options. Except as set forth in Section 3.2(a) of the Disclosure ScheduleSince March 10, since March 311999, 2000 (A) no shares of the Company's capital stock have been issued other than pursuant to Company Stock Options already in existence on such date or pursuant to the Stock Purchase Plan and (B) date, and, since March 10, 1999, no stock options have been granted. As of the date hereofMarch 10, 120,000 1999, 75,000 shares of Company Common Stock were reserved for issuance and issuable upon, or otherwise deliverable in connection with, the exercise of outstanding Warrants.