Common use of Existing Stockholders’ NASD Affiliation Clause in Contracts

Existing Stockholders’ NASD Affiliation. Based on questionnaires distributed to the Existing Stockholders, no officer, director or any beneficial owner of the Company’s unregistered securities has any direct or indirect affiliation or association with any NASD member, as determined in accordance with the rules and regulations of the NASD. The Company will advise the Representative and its counsel if it learns that any officer, director or beneficial owner (direct or indirect) of 5% or more of the Company’s outstanding Common Stock is or becomes an affiliate or associated person of an NASD member participating in the Offering.

Existing Stockholders’ NASD Affiliation. Based on questionnaires distributed to the Existing Stockholders, no officer, director or any beneficial owner of the Company’s 's unregistered securities has any direct or indirect affiliation or association with any NASD member, as determined in accordance with the rules and regulations of the NASD. The Company will advise the Representative and its counsel if it learns that any officer, director or beneficial owner (direct or indirect) of 5% or more of the Company’s 's outstanding Common Stock Ordinary Shares is or becomes an affiliate or associated person of an NASD member participating in the Offering.

Existing Stockholders’ NASD Affiliation. Based on questionnaires distributed to the Existing Stockholders, no officer, director or any beneficial owner of the Company’s 's unregistered securities has any direct or indirect affiliation or association with any NASD member, as determined in accordance with the rules and regulations of the NASD. The Company will advise the Representative and its counsel if it learns that any officer, director or beneficial owner (direct or indirect) of 5% or more of the Company’s 's outstanding Common Stock is or becomes an affiliate or associated person of an NASD member participating in the Offering.