Twelfth Warrant Clause Samples
Twelfth Warrant. The Company shall execute and deliver to Purchaser a warrant (the "Twelfth Warrant") to purchase up to One Hundred Seventy-Five Thousand Dollars ($175,000) of the Company's Common Stock at an exercise price of the fair market value or Twenty-Two and One-Half Cents ($0.225) per share, whichever is less. (For example, if the lowest price is $0.225 per share, then the Purchaser would divide $175,000 by $0.225 and the Company would issue 777,778 of its shares of Common Stock.) The fair market value shall be the "bid" price of the Company's Common stock on the Over-the-Counter:Bulletin Board at the close of business on the fifth (5th) business day preceding the conversion date. Subject to the terms and conditions of the Twelfth Warrant, the Twelfth Warrant shall terminate on April 5, 2002."
Twelfth Warrant. The Company shall execute and deliver to Purchaser a warrant to purchase One Million Four Hundred Eighteen Thousand Two Hundred Sixty-One (1,418,261) shares of the Company's Common Stock (the "Twelfth Warrant"). The exercise price for the Twelfth Warrant shall be Twenty-Three Cents ($0.23) per share. Subject to the terms and conditions of the Twelfth Warrant, the Twelfth Warrant shall terminate on April 5, 2002."