Common use of Company Call Clause in Contracts

Company Call. If, prior to the exercise or earlier expiration of this Warrant pursuant to the terms hereof, the average closing stock price of the Common Stock on the American Stock Exchange, or any successor national securities exchange thereto, equals or exceeds two (2) times the Purchase Price on any five (5) consecutive trading days, the Company shall be entitled, at its option, to direct the Warrant Agent to issue a notice (a “Call Notice”) to the Registered Holder of this Warrant to the effect that the Company is exercising its rights pursuant to this Section 3. Upon receipt of a Call Notice (which receipt will be deemed to occur on the one (1) business day following the dispatch of such Call Notice by the Warrant Agent by a nationally recognized overnight courier), the Registered Holder shall have until 5.00 p.m., Denver, Colorado time, on the 10th business day following receipt of the Call Notice to exercise the Warrant, for that number of shares of Warrant Stock covered by the Call Notice, in accordance with Section 2 hereof. Upon the expiration of such 10 business day period, if not sooner exercised, this Warrant will terminate with respect to the number of shares specified in the Call Notice and the Registered Holder’s rights and the Company’s obligations hereunder with respect to the number of shares specified in the Call Notice will cease without payment of consideration. Notwithstanding the foregoing provisions of this Section 3, the Company may not issue a Call Notice unless and until a registration statement is effective, or no longer required, with respect to the resale of the Warrant Stock.

Company Call. If, prior to the exercise or earlier expiration of this Warrant pursuant to the terms hereof, the average closing stock price of the Common Stock on the American Stock Exchange, or any successor national securities exchange thereto, equals or exceeds two (2) times the Purchase Price on any five (5) consecutive trading days, the Company shall be entitled, at the its option, to direct the Warrant Agent to issue a notice (a “Call Notice”) to the Registered Holder of this Warrant to the effect that the Company is exercising its rights pursuant to this Section 3. Upon receipt of a Call Notice (which receipt will be deemed to occur on the one (1) business day following the dispatch of such Call Notice by the Warrant Agent by a nationally recognized overnight courier), the Registered Holder shall have until 5.00 p.m., Denver, Colorado time, on the 10th business day following receipt of the Call Notice to exercise the Warrant, for that number of shares of Warrant Stock covered by the Call Notice, in accordance with Section 2 hereof. Upon the expiration of such 10 business day period, if not sooner exercised, this Warrant will terminate with respect to the number of shares specified in the Call Notice and the Registered Holder’s rights and the Company’s obligations hereunder with respect to the number of shares specified in the Call Notice will cease without payment of consideration. Notwithstanding the foregoing provisions of this Section 3, the Company may not issue a Call Notice unless and until a registration statement is effective, or no longer required, with respect to the resale of the Warrant Stock.

Company Call. If, prior to the exercise or earlier expiration of this Warrant pursuant to the terms hereof, the last average closing stock price of the sale prices of the Common Stock on the American Stock Exchange, or any successor national securities exchange thereto, equals or exceeds two (2) times the Purchase Price on any five (5) consecutive trading days, the Company shall be entitled, within 10 trading days of the last of such five (5) consecutive trading days, at its option, to direct the Warrant Agent to issue a notice (a “Call Notice”) to the Registered Holder holder of this Warrant to the effect that the Company is exercising its rights pursuant to this Section 3. Upon receipt of a Call Notice (which receipt will be deemed to occur on the one (1) business day following the dispatch of such Call Notice by the Warrant Agent Company by a nationally recognized overnight courier), the Registered Holder shall have until 5.00 5:00 p.m., DenverScotts Valley, Colorado California time, on the 10th business day following receipt of the Call Notice to exercise the Warrant, for that number of shares of Warrant Stock covered by the Call Notice, in full in accordance with Section 2 hereof. Upon the expiration of such 10 business day period, if not sooner exercised, this Warrant will terminate with respect to the number of shares specified in the Call Notice and the Registered Holder’s rights and the Company’s rights and obligations hereunder with respect to the number of shares specified in the Call Notice will cease without payment of consideration. Notwithstanding the foregoing provisions of this Section 3, the Company may not issue a Call Notice unless and until a registration statement is effective, or no longer required, with respect to the resale of the Warrant Stock and the Company's 10 trading day period in which to give a Call Notice shall be extended up to 90 days to the extent necessary to have an effective registration statement with respect to resale of the Warrant Stock.

Company Call. If, prior to the exercise or earlier expiration of this Warrant pursuant to the terms hereof, the Company's average closing stock price of the Common Stock on the American Stock Exchange, or any successor national securities exchange thereto, equals or exceeds two (2) times the Purchase Price on any five (5) consecutive trading days, the Company shall be entitled, entitled at its option, to direct the Warrant Agent to issue a notice (a “Call Notice”) to the Registered Holder of this Warrant to the effect that the Company is exercising its rights pursuant to this Section 3. Upon receipt of a Call Notice (which receipt will be deemed to occur on the one (1) business day following the dispatch of such Call Notice by the Warrant Agent Company by a nationally recognized overnight courier), the Registered Holder shall have until 5.00 5:00 p.m., DenverScotts Valley, Colorado California time, on the 10th business day following receipt of the Call Notice to exercise the Warrant, for that number of shares of Warrant Stock covered by the Call Notice, in accordance with Section 2 hereof. Upon the expiration of such 10 business day period, if not sooner exercised, this Warrant will terminate with respect to the number of shares specified in the Call Notice and the Registered Holder’s rights and the Company’s rights and obligations hereunder with respect to the number of shares specified in the Call Notice will cease without payment of consideration. Notwithstanding the foregoing provisions of this Section 3, the Company may not issue a Call Notice unless and until a registration statement is effective, or no longer required, with respect to the resale of the Warrant Stock.