Common use of Concerning the Securities Clause in Contracts

Concerning the Securities. The Securities have been duly authorized and the Preferred Shares, when issued and paid for in accordance with this Agreement, and the Common Shares, when issued upon conversion of the Preferred Shares or eercise of the Warrants, as the case may be, will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability by reason of being such holder. There are no preemptive right,s of any stockholder of the Company, as such, to acquire any of the Securities. The Common Stock is listed for trading on the Nasdaq SmallCap Market ("Nasdaq") and (1) the Company and the Common Stock meet the criteria for continued listing and trading on Nasdaq; (2) the Company has not been notified since January 1, 1994 by the National Association of Securities Dealers, Inc. of any failure or potential failure to meet the criteria for continued listing and trading on Nasdaq and (3) no suspension of trading in the Common Stock is in effect.

Concerning the Securities. The Securities have been duly authorized and the Preferred Shares, when issued and paid for in accordance with this Agreement, and the Common Shares, when issued upon conversion of the Preferred Shares or eercise in payment of dividends thereon or upon exercise of the Warrants, as the case may be, will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability by reason of being such holder. There are no preemptive right,s or similar rights of any stockholder security holder of the Company, as such, Company or any other person to acquire any of the SecuritiesShares. The Common Stock is listed for trading on the Nasdaq SmallCap Market ("Nasdaq") and and, except as set forth in Section 3(c) of the Disclosure Letter, (1) the Company and the Common Stock meet the currently applicable criteria for continued listing and trading on Nasdaq; (2) the Company has not been notified since January 1September 25, 1994 1995, by the National Association of Securities Dealers, Inc. Nasdaq of any failure or potential failure to meet the criteria for continued listing and trading on Nasdaq and (3) no suspension of trading in the Common Stock is in effect.Nasdaq;

Concerning the Securities. The Securities Shares have been duly authorized and the Preferred Shares, when issued and paid for in accordance with this Agreement, and the Common Shares, when issued upon conversion of the Preferred Shares or eercise in payment of the Warrantsdividends thereon, as the case may be, will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability by reason of being such holder. There are no preemptive right,s or similar rights of any stockholder of the Company, as such, Company or any other person to acquire any of the SecuritiesShares. The Common Stock is listed for trading on the Nasdaq SmallCap Market ("Nasdaq") and (1) the Company and the Common Stock meet the currently applicable criteria for continued listing and trading on Nasdaq; (2) the Company has not been notified since January 1September 25, 1994 1995, by the National Association of Securities Dealers, Inc. Nasdaq of any failure or potential failure to meet the criteria for continued listing and trading on Nasdaq and Nasdaq; (3) no suspension of trading in the Common Stock is in effect; and (4) the Company knows of no reason that the Common Shares will not be eligible for listing on Nasdaq; except as set forth in Section 3(c) of the Disclosure Letter.

Concerning the Securities. The Securities have been duly authorized and the Preferred Shares, when issued and paid for in accordance with this Agreement, and the Common Shares, when issued upon conversion of the Preferred Shares or eercise exercise of the Warrants, as the case may be, will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability by reason of being such holder. There are no preemptive right,s rights of any stockholder of the Company, as such, to acquire any of the Securities. The Common Stock is listed for trading on the Nasdaq SmallCap Market ("Nasdaq") and (1) the Company and the Common Stock meet the criteria for continued listing and trading on Nasdaq; (2) the Company has not been notified since January 1, 1994 by the National Association of Securities Dealers, Inc. of any failure or potential failure to meet the criteria for continued listing and trading on Nasdaq and (3) no suspension of trading in the Common Stock is in effect.