Common use of Calculation of Conversion Price Clause in Contracts

Calculation of Conversion Price. The conversion price (“Conversion Price”) shall be equal to the greater of U.S.$0.02 or the average closing price of Borrower’s Common Stock on the Over-the-Counter Bulletin Board for the prior 60 trading days (subject to equitable adjustments for stock splits and similar events). A “trading day” shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the Borrower’s Common Stock is traded or quoted. Exhibit “A” to Funding Agreement

Calculation of Conversion Price. The conversion price (“Conversion Price”) shall be equal to the greater of U.S.$0.02 or the average closing price of BorrowerCompany’s Common Stock on the NASDAQ Over-the-Counter Bulletin Board for the prior 60 two trading days prior to the maturity date (subject to equitable adjustments for stock splits and similar events). A “trading day” shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the BorrowerCompany’s Common Stock is traded or quoted. Exhibit “A” to Funding Agreement.