Document ID: 16651

Text:
(t) Option to Purchase Preferred Stock. From the date that the Offered Notes and the 10% Senior Secured Convertible Notes issued to the Buyer on January 27, 2106 are converted into shares of Common Stock, until Janaury 26, 2020, the Buyer has the option, in its sole and absolute discretion, to purchase 10 shares of a new series of preferred stock of the Company for a purchase price of $10.00, which new series of preferred stock will have substantially similar rights, powers, and preferences as the shares of series A preferred stock, par value $0.001 per share, which were issued to the Buyer on July 27, 2016; provided that the new series of preferred stock will provide that the Buyer will have right to appoint a majority of the members Board of Directors of the Company.

Named Entities:
18
19
Percentage
79
82
Price
111
114
Price

Tokenized Text:
(
t
)
Option
to
Purchase
Preferred
Stock
.
From
the
date
that
the
Offered
Notes
and
the
10
%
Senior
Secured
Convertible
Notes
issued
to
the
Buyer
on
January
27
,
2106
are
converted
into
shares
of
Common
Stock
,
until
Janaury
26
,
2020
,
the
Buyer
has
the
option
,
in
its
sole
and
absolute
discretion
,
to
purchase
10
shares
of
a
new
series
of
preferred
stock
of
the
Company
for
a
purchase
price
of
$
10
.
00
,
which
new
series
of
preferred
stock
will
have
substantially
similar
rights
,
powers
,
and
preferences
as
the
shares
of
series
A
preferred
stock
,
par
value
$
0
.
001
per
share
,
which
were
issued
to
the
Buyer
on
July
27
,
2016
;
provided
that
the
new
series
of
preferred
stock
will
provide
that
the
Buyer
will
have
right
to
appoint
a
majority
of
the
members
Board
of
Directors
of
the
Company
.