Common use of Capitalization of Buyer Clause in Contracts

Capitalization of Buyer. Buyer has authorized 1,000,000 shares of Common Stock, $0.01 par value, of which 20,000 shares are issued and outstanding, and except for the Warrant, Buyer has no authorized or outstanding options or securities convertible into or exercisable for shares of its Common Stock.

Capitalization of Buyer. (a) The authorized capital stock of Buyer has authorized 1,000,000 consists of 500,000,000 shares of Common Stock and 5,000,000 shares of Preferred Stock. As of June 30, $0.01 par value2020, (A) 19,635,830 shares of which 20,000 Common Stock were issued and outstanding and (B) no shares are of Preferred Stock were issued and outstanding, and except for the Warrant, Buyer has no authorized or . All outstanding options or securities convertible into or exercisable for shares of its Common StockStock are validly issued, fully paid, nonassessable and free of any preemptive rights.

Capitalization of Buyer. (a) The authorized capital stock of Buyer has authorized consists of 100,000,000 shares of Common Stock and 1,000,000 shares of Preferred Stock. As of June 30, 2020, (A) 19,635,830 shares of Common Stock, $0.01 par value, Stock were issued and outstanding and (B) no shares of which 20,000 shares are Preferred Stock were issued and outstanding, and except for the Warrant, Buyer has no authorized or . All outstanding options or securities convertible into or exercisable for shares of its Common StockStock are validly issued, fully paid, nonassessable and free of any preemptive rights.

Capitalization of Buyer. Buyer has (a) The authorized 1,000,000 Equity Securities of the Company consist of (i) 100,000,000 shares of Buyer Common Stock, $0.01 par value, of which 20,000 3,672,236 shares are issued and outstanding, and except for the Warrant, Buyer has no authorized or outstanding options or securities convertible into or exercisable for (ii) 400,000 shares of its Common Stockpreferred stock, none of which are outstanding. This includes the issuance of up to 137,000 new shares of common stock which were issued pursuant to a private placement in February 2015. The private placement has been approved by both parties.

Capitalization of Buyer. As of the 3/1/07 the authorized capital stock of Buyer has authorized 1,000,000 consists of 1 Billion common shares of Common Stock, $0.01 par valueand 50 Million Preferred shares, of which 20,000 15.5 Million common shares and 755,000 Preferred are validly issued and outstanding, ; all are fully paid and except for the Warrant, Buyer has no authorized or outstanding options or securities convertible into or exercisable for shares of its Common Stocknonassessable.

Capitalization of Buyer. The authorized capital stock of Buyer has authorized 1,000,000 consists ----------------------- of 5,000,000 shares of Series Preferred Stock and 100,000,000 shares of Buyer Common Stock, $0.01 par value, 27,794,737 shares of which 20,000 shares are issued and outstanding; the Buyer Common Stock has been duly and validly authorized and is validly issued, fully paid and except for the Warrant, Buyer has no authorized or outstanding options or securities convertible into or exercisable for shares of its Common Stock.nonassessable;

Capitalization of Buyer. Buyer has (a) The authorized 1,000,000 Equity Securities of the Company consist of (i) 4,999,000,000 shares of Buyer Common Stock, $0.01 par value, of which 20,000 3,179,248 shares are issued and outstanding, and except for the Warrant, Buyer has no authorized or outstanding options or securities convertible into or exercisable for (ii) 1,000,000 shares of its Common Stockpreferred stock, none of which are outstanding.