Common use of Reverse Splits Clause in Contracts

Reverse Splits. The parties hereto acknowledge that prior to the execution of the Merger Agreement, the Company approved a 10:1 reverse-split in the shares of its issued and outstanding common stock, including those shares issued in connection with this Merger Agreement, so that the total number of the Company issued and outstanding shares of stock after the reverse split have reduced from 114,529,000 to 11,452,900.