Common use of Share Capitalization Clause in Contracts

Share Capitalization. As of the date of acceptance of this Subscription, the authorized capital stock of the Company consists of 100,000,000 shares of common stock. All the outstanding shares are validly issued and are fully paid and nonassessable. The Common Stock has a par value US$0.001 per share (the “Common Stock”). Par Value is a nominal value that is a vestige of creditors’ rights laws that was arbitrarily assigned to the shares of Common Stock for purposes of compliance with applicable state law at the date of the Company’s incorporation. It bears no direct relationship to the market value of the stock, or the Purchase Price of the Common Stock, or any ultimate sale or disposition value which may be derived from the Common Stock.

Share Capitalization. As of the date of acceptance of this Subscription, the authorized capital stock of the Company consists of 100,000,000 shares of common stock. All the outstanding shares are validly issued and are fully paid and nonassessable. The Common Stock has a par value US$0.001 0.00001 per share (the “Common Stock”). Par Value is a nominal value that is a vestige of creditors’ rights laws that was arbitrarily assigned to the shares of Common Stock for purposes of compliance with applicable state law at the date of the Company’s incorporation. It bears no direct relationship to the market value of the stock, or the Purchase Price of the Common Stock, or any ultimate sale or disposition value which may be derived from the Common Stock.