Common use of Conversion Fee Clause in Contracts

Conversion Fee. The Company shall pay to the Holder within five (5) business days following the closing of the Offering, a conversion fee equal to $22,816 (the "CONVERSION FEE"). Notwithstanding the foregoing, if at anytime within the six (6) month period following the closing of the Offering, the Company's Common Stock trades above $11.32 for ten (10) out of any period of thirty (30) consecutive trading days during such six (6) month period (the tenth such day being the "THRESHOLD DATE"), then the Holder shall pay to the Company an amount equal to the pro rata portion of the Conversion Fee attributable to such six (6) month period occurring after the Threshold Date. By way of illustration, if the Offering closes on June 1, 2004 and the Threshold Date occurs on October 1, 2004, then the Holder shall pay to the Company an amount equal to 33.33% of the Conversion Fee or $7,605. The Holder shall pay such amount to the Company within five (5) business days after the end of the six (6) month period following closing of the Offering.

Conversion Fee. The Company shall pay to the Holder within five (5) business days following the closing of the Offering, a conversion fee equal to $22,816 _____ (the "CONVERSION FEE"). Notwithstanding the foregoing, if at anytime within the six (6) month period following the closing of the Offering, the Company's Common Stock trades above $11.32 for ten (10) out of any period of thirty (30) consecutive trading days during such six (6) month period (the tenth such day being the "THRESHOLD DATE"), then the Holder shall pay to the Company an amount equal to the pro rata portion of the Conversion Fee attributable to such six (6) month period occurring after the Threshold Date. By way of illustration, if the Offering closes on June 1, 2004 and the Threshold Date occurs on October 1, 2004, then the Holder shall pay to the Company an amount equal to 33.33% of the Conversion Fee or $7,605_____. The Holder shall pay such amount to the Company within five (5) business days after the end of the six (6) month period following closing of the Offering.

Conversion Fee. The Company shall pay to the Holder Holders within five (5) business days following the closing of the Offering, a conversion fee equal to $22,816 1,734,025 (the "CONVERSION FEE"“Conversion Fee”). Notwithstanding the foregoing, if at anytime any time within the six (6) month period following the closing of the Offering, the Company's ’s Common Stock trades above $11.32 for ten (10) out of any period of thirty (30) consecutive trading days during such six (6) month period (the tenth such day being the "THRESHOLD DATE"“Threshold Date”), then the Holder Holders shall pay to the Company an amount equal to the pro rata portion of the Conversion Fee attributable to such six (6) month period occurring after the Threshold Date. By way of illustration, if the Offering closes on June 1, 2004 and the Threshold Date occurs on October 1, 2004, then the Holder Holders shall pay to the Company an amount equal to 33.3333% of the Conversion Fee or $7,605577,950. The Holder Holders shall pay such amount to the Company within five (5) business days after the end of the six (6) month period following closing of the Offering.