Common use of Shares Issued and Outstanding Clause in Contracts

Shares Issued and Outstanding. As of December 31, 2010, the Company had a total of 53,337,500 shares of Common Stock issued and outstanding, no shares of Preferred Stock issued, and only outstanding stock options, stock purchase warrants, and convertible loans as described in Section 3.1(4).

Shares Issued and Outstanding. As of December 31March 21, 20102011, the Company had a total of 53,337,500 1,755,000 shares of Common Stock issued and outstanding, no shares of Preferred Stock issued, and only no outstanding stock options, stock purchase warrants, and or convertible loans as described in Section 3.1(4).

Shares Issued and Outstanding. As of December 31February 11, 20102011, the Company had a total of 53,337,500 1,630,000 shares of Common Stock issued and outstanding, no shares of Preferred Stock issued, and only outstanding stock options, stock purchase warrants, and convertible loans as described in Section 3.1(4).