Common use of Subscription and Payment Clause in Contracts

Subscription and Payment. Subject to the terms of this Subscription Agreement (this “Agreement”), the undersigned investor (the “Subscriber”) hereby subscribes for and agrees to purchase the amount of shares of common stock (the “Shares”) of the Company set forth on the signature page to this Agreement. Attached to each Share is one (1) Warrant (the “Warrants” and together with the Shares, the “Securities”). Each Warrant entitles the holder thereof to purchase One (1) Share from the Company for Four Dollars (US $4.00) at any time until the expiration of the Warrants issued in this Offering. The Warrants will expire at midnight eastern standard time of the two year anniversary of the closing of this Offering. At any time prior to the expiration of the Warrants, the Company may, for any reason, call the Warrants by notifying the holders thereof (the “Call Notice”). Upon receipt of a Call Notice, the holder of a Warrant shall have ten (10) business days to exercise the Warrant. There is no penalty for non-exercise of the Warrants upon receipt of the Call Notice; however, failure to exercise the Warrant within the aforementioned time period shall result in the expiration of the Warrant and all rights associated therewith. The Offering will remain open for subscription until September 28th, 2021, unless otherwise extended in the Company’s sole discretion.