Common use of Share Structure Clause in Contracts

Share Structure. This Corporation is authorized to issue two classes of stock to be designated, respectively, "Common Stock" and "Preferred Stock." The total number of shares which the Corporation is authorized to issue is 9,500,000 shares, of which 6,000,000 shares are Common Stock, $.0001 par value per share, and 3,500,000 shares are Preferred Stock, $1.00 par value per share. The Preferred Stock may be issued from time to time in one or more series with distinctive serial designations, at such purchase prices and with such relative rights, preferences, privileges and restrictions as are determined from time to time by the Board of Directors. The shares of each series of Preferred Stock may vary from the shares of any other series of Preferred Stock in the Conversion Rate, Conversion Value, Conversion Price and any other factors which are determined by the price per share paid for such Preferred Stock, and as to redemption rights, if any, and voting rights, if any, but shall otherwise be identical. The Board of Directors may create any such series of Preferred Stock by resolution duly adopted pursuant to authority hereby granted. On the date this document is filed with the Delaware Secretary of State, (i) 262,500 shares of Preferred Stock issued and outstanding are known and previously have been designated as Series A Convertible Preferred Stock ("Series A Preferred Stock"), (ii) 454,888 shares of Preferred Stock, of which 454,888 shares are issued and outstanding, are known and previously have been designated as Series B Convertible Preferred Stock ("Series B Preferred Stock"), (iii) 516,072 shares of Preferred Stock, of which 428,572 shares are issued and outstanding, are known and designated as Series C Convertible Preferred Stock ("Series C Preferred Stock"), (iv) 727,500 shares of Preferred Stock, of which 701,755 shares are issued and outstanding, are known and designated as Series D Convertible Preferred Stock ("Series D Preferred Stock"), and (v) 706,396 shares of Preferred Stock, of which 697,675 shares are issued and outstanding, are known and designated as Series E Convertible Preferred Stock ("Series E Preferred Stock"). A total of 675,630 shares of Preferred Stock shall be known and designated as Series F Convertible Prepared Stock ("Series F Preferred Stock"). The Board of Directors from time to time may increase or decrease the number of shares of any series, but not, in the case of a decrease, to a number less than the number of shares of such series then outstanding. The rights, preferences, privileges and restrictions granted to or imposed upon the Common Stock and the Preferred Stock are as follows:

Share Structure. This Corporation is authorized to issue two classes of stock to be designated, respectively, "Common Stock" and "Preferred Stock." The total number of shares which the Corporation is authorized to issue is 9,500,000 7,500,000 shares, of which 6,000,000 4,500,000 shares are Common Stock, $.0001 par value per share, and 3,500,000 3,000,000 shares are Preferred Stock, $1.00 par value per share. The Preferred Stock may be issued from time to time in one or more series with distinctive serial designations, at such purchase prices and with such relative rights, preferences, privileges and restrictions as are determined from time to time by the Board of Directors. The shares of each series of Preferred Stock may vary from the shares of any other series of Preferred Stock in the Conversion Rate, Conversion Value, Conversion Price and any other factors which are determined by the price per share paid for such Preferred Stock, and as to redemption rights, if any, and voting rights, if any, but shall otherwise be identical. The Board of Directors may create any such series of Preferred Stock by resolution duly adopted pursuant to authority hereby granted. On the date this document is filed with the Delaware Secretary of State, (i) 262,500 shares of Preferred Stock issued and outstanding are known and previously have been designated as Series A Convertible Preferred Stock ("Series A Preferred Stock"), (ii) 454,888 shares of Preferred Stock, of which 454,888 shares are issued and outstanding, are known and previously have been designated as Series B Convertible Preferred Stock ("Series B Preferred Stock"), (iii) 516,072 shares of Preferred Stock, of which 428,572 shares are issued and outstanding, are known and designated as Series C Convertible Preferred Stock ("Series C Preferred Stock"), and (iv) 727,500 shares of Preferred Stock, of which 701,755 shares are issued and outstanding, are known and designated as Series D Convertible Preferred Stock ("Series D Preferred Stock"), and (v) 706,396 . A total of 697,675 shares of Preferred Stock, of which 697,675 shares are issued and outstanding, are Stock shall be known and designated as Series E Convertible Preferred Stock ("Series E Preferred Stock"). A total of 675,630 shares of Preferred Stock shall be known and designated as Series F Convertible Prepared Stock ("Series F Preferred Stock"). The Board of Directors from time to time may increase or decrease the number of shares of any series, but not, in the case of a decrease, to a number less than the number of shares of such series then outstanding. The rights, preferences, privileges and restrictions granted to or imposed upon the Common Stock and the Preferred Stock are as follows: