Common use of GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK Clause in Contracts

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 fully paid and non-assessable shares of the Company's Series A Preferred Stock ("Preferred Stock") at a purchase price of $1.31 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 32,150 fully paid and non-assessable shares of the Company's Series A C Preferred Stock ("Preferred Stock") at a purchase price of $ $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A C Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A C Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 10,714 fully paid and non-assessable shares of the Company's Series A E Preferred Stock ("Preferred Stock") at a purchase price of $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A E Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A E Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 19,268 fully paid and non-assessable shares of the Company's Series A C Preferred Stock ("Preferred Stock") at a purchase price of $ $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A C Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A C Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 14,285 fully paid and non-assessable shares of the Company's Series A E Preferred Stock ("Preferred Stock") at a purchase price of $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A E Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A E Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 17,857 fully paid and non-assessable shares of the Company's Series A E Preferred Stock ("Preferred Stock") at a purchase price of $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A E Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A E Preferred Stock into Common Stock.

GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. The Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe to and purchase, from the Company, 42,000 7,142 fully paid and non-assessable shares of the Company's Series A E Preferred Stock ("Preferred Stock") at a purchase price of $1.31 2.10 per share (the "Exercise Price"). The number and purchase price of such shares are subject to adjustment as provided in Section 8 hereof. Notwithstanding any provision(s) in this Warrant to the contrary, in the event that the outstanding shares of the Company's Series A E Preferred Stock automatically covert into Common Stock pursuant to the provisions of Article III B., Section 4(a) of the Company's Articles of Incorporation, then this Warrant shall automatically convert into a warrant to purchase the number of shares of Common Stock as would have been issuable to the Warrantholder had this Warrant been exercised in full immediately prior to the automatic conversion of Series A E Preferred Stock into Common Stock.