Common use of Representations of Issuer Clause in Contracts

Representations of Issuer. Issuer is in good standing under the laws of Arizona, and has all necessary corporate powers to own properties and carry on a business, and is duly qualified to do business and is in good standing in Arizona and all other states where doing business. All actions taken by the incorporators, directors and shareholders of Issuer have been valid and in accordance with the laws of the State of Arizona. Capital. The authorized capital stock of Issuer consists of One Hundred Million (100,000,000) shares of common stock, no par value of which approximately 20 million Shares are issued and outstanding, and Five Million (5,000,000) preferred shares, par value $10, of which none are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of pre-emptive rights. At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating Issuer to issue or to transfer from treasury any additional shares of its capital stock other than as disclosed in the Issuer’s SEC filings.

Representations of Issuer. Issuer is in good standing under the laws of Arizona, and has all necessary corporate powers to own properties and carry on a business, and is duly qualified to do business and is in good standing in Arizona and all other states where doing businessArizona. All actions taken by the incorporators, directors and shareholders of Issuer have been valid and in accordance with the laws of the State of Arizona. Capital. The authorized capital stock of Issuer consists of One Hundred Fifty Million (100,000,00050,000,000) shares of common stock, no par value of which approximately 20 million Seventeen Million Five Hundred Thousand (17,500,000) Shares are issued and outstanding, and Five Million (5,000,000) preferred shares, par value $10, of which none are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of pre-emptive rights. At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating Issuer to issue or to transfer from treasury any additional shares of its capital stock other than as disclosed in the Issuer’s SEC filingsstock.

Representations of Issuer. Issuer is in good standing under the laws of Arizona, and has all necessary corporate powers to own properties and carry on a business, and is duly qualified to do business and is in good standing in Arizona and all other states where doing businessArizona. All actions taken by the incorporators, directors and shareholders of Issuer have been valid and in accordance with the laws of the State of Arizona. Capital. The authorized capital stock of Issuer consists of One Hundred Fifty Million (100,000,00050,000,000) shares of common stock, no par value of which approximately 20 million Seven Hundred Thirty Two Thousand Thirty One (732,031) Shares are issued and outstanding, and Five Million (5,000,000) preferred shares, par value $10, of which none are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of pre-emptive rights. At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating Issuer to issue or to transfer from treasury any additional shares of its capital stock other than as disclosed in the Issuer’s SEC filingsstock.