Common use of Repurchase of Warrant Clause in Contracts

Repurchase of Warrant. The Company has the right to repurchase all or any portion of the Warrant Shares issuable upon exercise of this Warrant from Holder at a purchase price of $0.10 per Warrant Share at any time the Weighted Average Price of the Common Stock is at or above 200% of the Exercise Price, as adjusted hereunder, for twenty consecutive trading days. “Weighted Average Price” means the dollar volume-weighted average price for the Common Stock on the Over-The-Counter Bulletin Board, AMEX, NYSE, the NASDAQ National Market or The NASDAQ SmallCap Market Principal Market during the period beginning at 9:30:01 a.m., New York City Time, and ending at 4:00:00 p.m., New York City Time, as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York City Time, and ending at 4:00:00 p.m., New York City Time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Company elects to repurchase all or any part of the Warrant Shares pursuant to this Section, then the Company shall give to Holder at least 10 days’ prior written notice of the date on which the repurchase shall occur. Unless Holder exercises this Warrant in accordance with Section 3 above within such 10 day period, then Holder shall present this certificate to the Company upon payment by the Company of the repurchase price and if all of the Warrant Shares exercisable hereunder are repurchased this Warrant shall be cancelled. Otherwise, a new Warrant certificate for the portion of the Warrant Shares that remain exercisable hereunder shall be reissued to Holder.

Repurchase of Warrant. The Company has the right to repurchase all or any portion of the Warrant Shares issuable upon exercise of this Warrant from Holder at a purchase price of $0.10 0.01 per Warrant Share at any time the Weighted Average Price of the Common Stock is at or above 200% of the Exercise Price, as adjusted hereunder, for twenty consecutive trading days. “Weighted Average Price” means the dollar volume-weighted average price for the Common Stock on the Over-The-Counter Bulletin Board, AMEX, NYSE, the NASDAQ National Market or The NASDAQ SmallCap Market Principal Market during the period beginning at 9:30:01 a.m., New York City Time, and ending at 4:00:00 p.m., New York City Time, as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York City Time, and ending at 4:00:00 p.m., New York City Time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Company elects to repurchase all or any part of the Warrant Shares pursuant to this Section, then the Company shall give to Holder at least 10 days’ prior written notice of the date on which the repurchase shall occur. Unless Holder exercises this Warrant in accordance with Section 3 above within such 10 day period, then Holder shall present this certificate to the Company upon payment by the Company of the repurchase price and if all of the Warrant Shares exercisable hereunder are repurchased this Warrant shall be cancelled. Otherwise, a new Warrant certificate for the portion of the Warrant Shares that remain exercisable hereunder shall be reissued to Holder.