Common use of Description of the Shares Clause in Contracts

Description of the Shares. The Company proposes to issue and sell on a "best efforts all or none" basis through the Underwriter an aggregate of 125,000 shares (the "Shares") of common stock, $.01 par value per share (the "Common Stock"). The offering of Shares hereby may sometimes be referred to as the "Offering." The Underwriter is not required to purchase any of the Shares and, to the extent the Shares are sold, will deposit the funds received in connection with the Offering in the Escrow Account (Funds) and the Shares sold in the Offering in the Escrow Account (Stock) pursuant to the respective escrow agreements entered into between the Company and Continental Stock Transfer and Trust Company dated as of September 25, 2000.

Description of the Shares. The Company proposes to issue and sell on a "best efforts all or none" basis through the Underwriter an aggregate of 125,000 shares (the "Shares") of common stock, $.01 par value per share (the "Common Stock"). The offering of Shares hereby may sometimes be referred to as the "Offering." The Underwriter is not required to purchase any of the Shares and, to the extent the Shares are sold, will deposit the funds received in connection with the Offering in the Escrow Account (Funds) and the Shares sold in the Offering in the Escrow Account (Stock) pursuant to the respective escrow agreements entered into between the Company and Continental Stock Transfer and Trust Company dated as of September 25August __, 2000.