Common use of Redemption of Warrants by the Company Clause in Contracts

Redemption of Warrants by the Company. The Warrants are subject to redemption by the Company during the Exercise Period if a current registration statement pertaining to the Warrants is in effect at a redemption price of $0.10 per Warrant, on 30 days written notice to the Holders if the closing bid price for the Common Stock as reported on the National Associations of Securities Dealers Electronic Bulletin Board is $2.00 per share or more for ten consecutive trading days or is $2.00 per share or more for 15 trading days in any 30 trading day period. To redeem the Warrants, the Company must provide notice to the Warrant holder stating that the Warrants will be automatically redeemed 30 days from the date of such notice unless earlier exercised in accordance with the terms of the Warrants. Each Holder of the Warrants remaining unexercised after the expiration of the 30 day period shall be required to tender their Warrant or Warrants, duly endorsed, to the Company at its address. On surrender of the Warrants, the Company will deliver the redemption amounts to the Warrant Holder. Warrant Holders have the right to exercise their Warrants in accordance with, and complying with, the terms of the Warrant during the 30 days prior to redemption. Once the 30 day redemption period has expired, no Warrant may be exercised.

Redemption of Warrants by the Company. The Warrants are subject to redemption by the Company during the Exercise Period if a current registration statement pertaining to the Warrants is in effect at a redemption price of $0.10 per Warrant, on 30 days written notice to the Holders if the closing bid Company has a registration statement filed with the Securities and Exchange Commission registering the shares of Common Stock issueable on exercise of the Warrants and the underling price for shares of the Common Stock as reported on the National Associations of Securities Dealers Electronic Bulletin Board Company’s common stock is trading at $2.00 2.50 per share or more for ten consecutive trading days or is $2.00 per share or more for 15 trading days in any 30 trading day periodshare. To redeem the Warrants, the Company must provide notice to the Warrant holder stating that the Warrants will be automatically redeemed 30 days from the date of such notice unless earlier exercised in accordance with the terms of the Warrants. Each Holder of the Warrants remaining unexercised after the expiration of the 30 day period shall be required to tender their Warrant or Warrants, duly endorsed, to the Company at its address. On surrender of the Warrants, the Company will deliver the redemption amounts to the Warrant Holder. Warrant Holders have the right to exercise their Warrants in accordance with, and complying with, the terms of the Warrant during the 30 days prior to redemption. Once the 30 day redemption period has expired, no Warrant may be exercised.