Common use of Warrant Issuance Clause in Contracts

Warrant Issuance. The Company will issue a Warrant to purchase four (4) shares of the Company’s Common Stock at a per share exercise price of $1.25 to each Purchaser for every ten (10) shares of the Company’s Common Stock purchased by the Purchaser at the Closing. The Warrant will be issued as of the Closing and the Company shall deliver the Warrant to the Purchaser as promptly as practicable after the Closing Date; provided, however, that the Purchaser may not exercise the Warrant until six (6) months after the Closing (the “Warrant Determination Date”). In accordance with the terms of the Warrant, the number of Warrant Shares subject to purchase will be permanently reduced on a share-for-share basis by the number of shares of Common Stock and other Company securities (including short sales and sales or purchases of derivative securities) sold by the Purchaser from the Closing Date until and including the Warrant Determination Date. As a condition to exercising the Warrant, the Purchaser shall provide to the Company an affidavit and other reasonable supporting materials stating the amount of Company securities sold (including short sales and sales or purchase of derivative securities) from the Closing Date until and including the Warrant Determination Date. The Warrant is redeemable by the Company at a price of $0.001 per Warrant Share upon notice to the record holder of the Warrant if the average closing price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotations (“NASDAQ”) or the OTC Bulletin Board has been at least $1.70 for a period of fifteen (15) consecutive trading days ending within five (5) business days of the date notice of redemption is given in accordance with Section 6.6. The Warrant is also subject to a mandatory exchange or termination in the case of certain reorganizations, mergers, or divestitures.

Warrant Issuance. The For every 100 shares of Common Stock purchased at a Closing the Company will issue to the Purchaser a Warrant entitling the holder to purchase four thirty-five (435) shares of the Company’s 's Common Stock at a per share exercise price of $1.25 to each Purchaser for every ten (10) shares of the Company’s Common Stock purchased by the Purchaser at the Closing5.64. The Each Warrant will be issued as of the Closing and the Company shall deliver the Warrant to the Purchaser as promptly as practicable after the Closing Date; provided, however, that the Purchaser may not exercise the Warrant until six (6) months after the Closing (the “"Warrant Determination Date”"). In accordance with the terms of the Warrant, the The number of Warrant Shares subject to purchase will be permanently reduced on a share-for-share basis by the number any sales of shares of Common Stock and other Company securities (including short sales and sales or purchases of derivative securities) sold by the Purchaser from the Closing Date until and including the Warrant Determination Date. As a condition to exercising the Warrant, the Purchaser shall provide to the Company an affidavit and other reasonable supporting materials stating the amount of Company securities sold (including short sales and sales or purchase purchases of derivative securities) from the Closing Date until and including to the Warrant Determination Date. The Warrant is redeemable by the Company at a price of $0.001 .01 per Warrant Share upon notice to the record holder of the Warrant if the weighted average closing price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotations (“NASDAQ”) or the OTC Bulletin Board has been at least $1.70 [200% of the Purchase Price] for a period of fifteen ten (1510) consecutive trading days ending within five (5) business days of the date of the notice of redemption is given in accordance with Section 6.6redemption. The Warrant is also subject to a mandatory exchange or termination in the case of certain reorganizations, mergers, or divestitures.

Warrant Issuance. The Company will issue a Warrant to purchase four one ---------------- (41) shares share of the Company’s 's Common Stock at a per share exercise price of $1.25 [___][which shall be 150% of Purchase Price] to each Purchaser for every ten two (102) shares of the Company’s 's Common Stock purchased by the Purchaser at the Closing. The Warrant will be issued as of the Closing and the Company shall deliver the Warrant to the Purchaser as promptly as practicable after the Closing Date; provided, however, that the Purchaser may not exercise the Warrant -------- ------- until six (6) months after the Closing (the “"Warrant Determination Date”"). In accordance with the terms of the Warrant, the The number of Warrant Shares subject to purchase will be permanently reduced on a share-for-share basis by the number any sales of shares of Common Stock and other Company securities (including short sales and sales or purchases of derivative securities) sold by the Purchaser from the Closing Date until and including the Warrant Determination Date. As a condition to exercising the Warrant, the Purchaser shall provide to the Company an affidavit and other reasonable supporting materials stating the amount of Company securities sold (including short sales and sales or purchase of derivative securities) from the Closing Date until and including to the Warrant Determination Date. The Warrant is redeemable by the Company at a price of $0.001 per Warrant Share upon notice to the record holder of the Warrant if the average closing price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotations (“"NASDAQ”") or the OTC Bulletin Board has been at least $1.70 ____ [which shall be 200% of the Purchase Price] for a period of fifteen (15) consecutive trading days ending within five (5) business days of the date of the notice of redemption is given in accordance with Section 6.6redemption. The Warrant is also subject to a mandatory exchange or termination in the case of certain reorganizations, mergers, or divestitures.

Warrant Issuance. The Company will issue to each Purchaser or, subject to compliance by the Warrant Purchaser with Section 7 of the Purchase Agreement, agree to issue to the Warrant Purchaser a Warrant to purchase four nine (49) shares of the Company’s Common Stock at a per share exercise price of $1.25 0.8245 (which shall be equal to each Purchaser 110% of Purchase Price) for every ten twenty (1020) shares of the Company’s Common Stock purchased by the such Purchaser at the Closing. The Warrant will be issued as of the Closing and the Company shall deliver the Warrant to the Purchaser as promptly as practicable after the Closing Date; provided, however, that the Purchaser may not exercise the Warrant until six the date which is two (62) months after the Closing (the “Warrant Determination Date”). In accordance with the terms of the Warrant, the number of Warrant Shares subject to purchase will be permanently reduced on a share-for-share basis by the number of shares of Common Stock and other Company securities (including short sales and sales or purchases of derivative securities) sold by the Purchaser from the Closing Date until and including the Warrant Determination Date. As a condition to exercising the Warrant, the Purchaser shall provide to the Company an affidavit and other reasonable supporting materials stating the amount of Company securities sold by such Purchaser (including short sales and sales or purchase of derivative securities) from the Closing Date until and including the Warrant Determination Date. The Warrant also is redeemable by the Company at a price of $0.001 per Warrant Share upon notice to the record holder of the Warrant if the average closing price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotations (“NASDAQ”) or the OTC Bulletin Board has been at least $1.70 for a period of fifteen (15) consecutive trading days ending within five (5) business days of the date notice of redemption is given in accordance with Section 6.6. The Warrant is also subject to a mandatory exchange or termination in the case of certain reorganizations, mergers, or divestitures.