Forward Split. As a condition precedent to the Closing, the Board of Directors of SPI shall authorize a forward-stock split of its Common Stock on a 3 for 1 basis (the “Forward-Split”) so that following the Forward-Split and the Closing and the other transactions contemplated herein, SPI shall have an aggregate of Seventeen Million Seventy-Five Thousand (17,075,000) shares of SPI Common stock issued and outstanding.
Forward Split. Authorization of the Forward-Split set forth in Section 4.2.
Forward Split. MBPI shall use its best efforts to complete a forward split of its issued and outstanding Common Stock at a ratio of thirteen (13) shares of Common Stock for one (1) share of Common Stock (the “Forward Split”). Immediately after completing the Forward Split, MBPI shall have a total of 25,725,000 shares of Common Stock issued and outstanding.
Forward Split. As soon as practicable after the Closing, FICF shall effectuate an 8-for-1 forward split of FICF Common Stock. The number of shares of FICF to be issued to CodeSmart Shareholders after taken into effect the Forward Split shall be as set forth on Schedule I hereto.
Forward Split. As soon as practicable after the Effective Time, Purchaser shall forward split its outstanding shares on the basis of 12 shares for every share issued and outstanding.
Forward Split. As soon as reasonably practicable following the Closing, the Company shall take all reasonable action necessary to be taken by it to effectuate a 20:1 forward stock split of the Common Stock (the “Forward Split”). For purposes of clarity, all share amounts and per share prices set forth in the Transaction Documents are on a pre-Forward Split basis and, accordingly, (i) the post-Forward Split equivalent per share price of the Shares shall be $0.25; (ii) the post-Forward Split exercise price of the Warrants shall be $0.50 (assuming no other adjustments to the exercise price of the Warrants as provided for in the Warrants); (iii) the post-Forward Split number of shares or options for purposes of clause (i)(A) of the definition of Excluded Securities shall be 8,000,000; and (iv) the post-Forward Split Applicable Price shall be $0.3125 (assuming no other adjustments to the Applicable Price as provided for in Section 5.6).
Forward Split. As soon as reasonably practicable following the ------------- closing, the Company shall complete a forward split of 1:1.7.
Forward Split. As soon as reasonably practicable following the Closing, the Company shall take all reasonable action necessary to be taken by it to effectuate a 17:1 forward stock split of the Common Stock (the “Forward Split”). For purposes of clarity, all share amounts and per share prices set forth in the Transaction Documents are on a pre-Forward Split basis and, accordingly, (i) the post-Forward Split equivalent per share price of the Shares shall be $0.20; (ii) the post-Forward Split exercise price of the Series A Warrants shall be $0.30 (assuming no other adjustments to the exercise price of the Series A Warrants as provided for in the Series A Warrants); (iii) the post-Forward Split exercise price of the Series B Warrants shall be $0.60 (assuming no other adjustments to the exercise price of the Series B Warrants as provided for in the Series B Warrants); (iv) the post-Forward Split number of shares or options for purposes of clause (i)(A) of the definition of Excluded Securities shall be 13,000,000; (v) the post-Forward Split number of shares or options for purposes of clause (i)(C) of the definition of Excluded Securities shall be 3,251,250; and (v) the post-Forward Split Applicable Price shall be $0.30 (assuming no other adjustments to the Applicable Price as provided for in Section 5.9).
Forward Split. Moonshine shall have obtained director approval to conduct a forward stock split of 30-to-1. Further, Moonshine shall notify FINRA of the forward split.
Forward Split. The Purchaser is aware that the Company intends to split (or dividend) shares of its Common Stock on a two and a half-for-one basis (the "Stock Split") on or about August 17, 2006 (the "Effective Date"). Since the Closing is anticipated to take place after the Effective Date, the Purchasers in the Offering will not benefit from the Stock Split. The Purchaser is aware that all purchases made pursuant to this Agreement reflect post-Stock Split share numbers and that the per share purchase price and the number of shares purchased will be reflected on a post-Stock Split basis at Closing. Thus, whereas, without giving effect to the Stock Split, each $1.00 paid by a Purchaser in the Offering would have purchased a unit consisting of (i) two and a half shares of Common Stock, and (ii) a warrant to purchase two and a half shares of Common Stock, at an exercise price of $2.00 per share, after giving effect to the Stock Split, each $1.00 paid by a Purchaser in the Offering will purchase a unit consisting of (i) one share of Common Stock, and (ii) a warrant to purchase one share of Common Stock, at an exercise price of $2.00 per share.
