$1.74 Uses in Redemption Clause

Redemption

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

Redemption. This Warrant may be redeemed at the option of the Company at a redemption price of $0.001 (subject to adjustment in good faith by the Companys Board of Directors in the event of stock splits or other events described in Section 12 or 13 above) (the Redemption Price), per Warrant Share at any time after the date of issuance of the Warrant provided that (i) the average closing bid price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotation (NASDAQ) or the OTC Bulletin Board, shall have been greater than or equal to $1.74 for any fifteen (15) consecutive trading days (a Triggering Event) during a period ending within five (5) business days prior to the Redemption Notice Date (as defined below) (subject to adjustment in good faith by the Companys Board of Directors in the event of any stock splits or other events described in Section 12 or 13 above); provided, that at any time after the Redemption Notice Date (as defined below) and prior to the Redemption Date (as defined below) the Holder may exercise this Warrant, provided, further that if the Redemption Notice Date is prior to the Initial Exercise Date, then solely with respect to the redemption that is the subject of such Redemption Notice, the Redemption Date for such redemption shall be the thirtieth (30th) day after the Initial Exercise Date and shall occur only if the average Closing Price shall have been greater than or equal to $1.74 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar evens with respect to the Common Stock that occur after the date of the Purchase Agreement) for the fifteen (15) consecutive trading days during the period ending on the Initial Exercise Date (and in the event this condition is not satisfied on or before such Redemption Date, the applicable Redemption notice shall be deemed rescinded without prejudice to the Company, which shall retain the right to redeem the Warrant pursuant to the terms of this Section 17, in the event of another Triggering Event). The Company shall provide written notice of redemption which shall specify the Redemption Date (the Notice of Redemption) to the Holder not later than five (5) business days after a Triggering Event. On or after the date fixed for redemption (the Redemption Date) which shall be no less than thirty (30) days after the date that the Notice of Redemption is sent to the Holder (the Redemption Notice Date), the Holder shall have no rights with respect to this Warrant except to receive the Redemption Price upon surrender of this Warrant Certificate.

Redemption

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

Redemption. This Warrant may be redeemed at the option of the Company at a redemption price of $0.001 (subject to adjustment in good faith by the Companys Board of Directors in the event of stock splits or other events described in Section 12 or 13 above) (the Redemption Price), per Warrant Share at any time after the date of issuance of the Warrant provided that (i) the average closing bid price per share of the Common Stock as reported by the National Association of Securities Dealers Automated Quotation (NASDAQ) or the OTC Bulletin Board, shall have been greater than or equal to $1.74 for any fifteen (15) consecutive trading days (a Triggering Event) during a period ending within five (5) business days prior to the Redemption Notice Date (as defined below) (subject to adjustment in good faith by the Companys Board of Directors in the event of any stock splits or other events described in Section 12 or 13 above); provided, that at any time after the Redemption Notice Date (as defined below) and prior to the Redemption Date (as defined below) the Holder may exercise this Warrant, provided, further that if the Redemption Notice Date is prior to the Initial Exercise Date, then solely with respect to the redemption that is the subject of such Redemption Notice, the Redemption Date for such redemption shall be the thirtieth (30th) day after the Initial Exercise Date and shall occur only if the average Closing Price shall have been greater than or equal to $1.74 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar evens with respect to the Common Stock that occur after the date of the Purchase Agreement) for the fifteen (15) consecutive trading days during the period ending on the Initial Exercise Date (and in the event this condition is not satisfied on or before such Redemption Date, the applicable Redemption notice shall be deemed rescinded without prejudice to the Company, which shall retain the right to redeem the Warrant pursuant to the terms of this Section 17, in the event of another Triggering Event). The Company shall provide written notice of redemption which shall specify the Redemption Date (the Notice of Redemption) to the Holder not later than five (5) business days after a Triggering Event. On or after the date fixed for redemption (the Redemption Date) which shall be no less than thirty (30) days after the date that the Notice of Redemption is sent to the Holder (the Redemption Notice Date), the Holder shall have no rights with respect to this Warrant except to receive the Redemption Price upon surrender of this Warrant Certificate.