Common use of Capitalization; Securities Clause in Contracts

Capitalization; Securities. (a) As of the date hereof, the authorized capital stock of the Company consists of (i) 400,000,000 shares of Common Stock, of which 79,490,249 shares are outstanding, 3,614,621 are reserved for issuance under the Option Plans, and 22,530,000 are reserved for issuance pursuant to the Warrants, and (ii) 2,000,000 shares of preferred stock, par value $0.01 per share, of which no shares are outstanding, no shares have been designated and no shares are reserved for issuance. All of such outstanding shares of Common Stock were duly authorized and validly issued and are fully paid and non-assessable.

Capitalization; Securities. (a) As of the date hereof, the authorized capital stock of the Company consists of (i) 400,000,000 200,000,000 shares of Common Stock, of which 79,490,249 69,612,900 shares are outstanding, 3,614,621 outstanding and 3,079,510 shares are reserved for issuance under the Option Plans, Plan and 22,530,000 are reserved an additional 3,600,000 shares have been properly authorized for issuance pursuant to under the WarrantsOption Plan but not formally reserved, and (ii) 2,000,000 50,000,000 shares of preferred stock, par value $0.01 per sharepar value, of which no shares are outstanding, no shares have been designated and no shares are reserved for issuance. All of such outstanding shares of Common Stock were duly authorized and validly issued and are fully paid and non-assessable.

Capitalization; Securities. (a) As of the date hereof, the authorized capital stock of the Company consists of (i) 400,000,000 300,000,000 shares of Common Stock, of which 79,490,249 173,932,892 shares are outstanding, 3,614,621 30,076,666 shares are reserved for issuance under the Option Plans, and 22,530,000 are reserved for issuance pursuant to the Warrants, and (ii) 2,000,000 100,000 shares of preferred stock, par value $0.01 per sharepar value, of which no shares are outstanding, no shares have been designated and no shares are reserved for issuance. All of such outstanding shares of Common Stock were duly authorized and validly issued and are fully paid and non-assessable.