Conversion Price; Note; Warrant Clause Samples

Conversion Price; Note; Warrant. (a) After giving effect to a 5.31-to-1 forward stock split of the Company’s common stock, the offering price for the Company’s common stock in the Transactions will be $0.10 per share, which will be used as the conversion price (the “Conversion Price”) for the transactions contemplated by this Agreement. (b) As of the Effective Date, the outstanding principal and interest owed on the Note is $__________________. Based upon the Conversion Price, the Note shall be converted into __________ shares of the Company’s common stock (the “Note Shares”). (c) Based on the Conversion Price, and after giving effect to the cashless exercise provisions of the Warrant, the Warrant shall be converted into _______ shares of the Company’s common stock (the “Warrant Shares” and, together with the Note Shares, the “Conversion Shares”).