Common use of Due Organization; Power; Qualification; Subsidiaries and Affiliates, Etc Clause in Contracts

Due Organization; Power; Qualification; Subsidiaries and Affiliates, Etc. (i) Navidec is a corporation duly organized, validly existing, and in good standing under the laws of the state of its incorporation and has the corporate power to own its property and to carry on its business as now conducted. Navidec is not qualified to do business as a foreign corporation in any jurisdiction. (ii) Navidec has three subsidiaries namely Merger Corp., Navidec Financial Services, Inc. ("Navidec Financial") and Northsight Mortgage Corporation ("Northsight"). Navidec has no other subsidiaries or affiliates, as that term is used in the regulations promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Prior to the closing date, Northsight will become a subsidiary of Navidec Financial.