Investment Principles. (i) The Purchased Shares, together with the Note Shares issued on account of the conversion of principal of the Notes, shall represent fifty-one percent (51%) of the fully diluted Common Stock of the Company immediately following the second Closing. (ii) Concurrently with issuance and sale of the Purchased Shares at the second Closing, the Investors shall convert the Notes into Common Stock and the Common Stock so issued shall also constitute Purchased Shares for purposes of this Agreement not related to the second Closing.
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Samples: Securities Purchase and Financing Agreement (Quantum Materials Corp.)
