Document ID: 12216

Text:
(j)Insufficient Authorized Shares of Common Stock; Reservation of Shares. The Purchaser acknowledges and understands that the Company does not currently have a sufficient number of authorized shares of Common Stock to issue the Conversion Shares issuable upon conversion of the Series B Preferred Stock and the Warrant Shares issuable upon exercise of the Warrants to be issued in the Offering. Following the Closing, the Company shall use commercially reasonable efforts to increase the Companys authorized shares of Common Stock to an amount sufficient to allow the Company to issue all of the shares of Common Stock issuable (i) upon conversion of all outstanding shares of Series B Preferred Stock, (ii) exercise of all outstanding Warrants, and (iii) exercise or conversion, as applicable, of all other outstanding convertible securities of the Company (Convertible Securities); including by filing Articles of Amendment to the Companys Articles of Incorporation with the Secretary of State of the State of Florida (the Articles of Amendment) increasing the Companys authorized Common Stock and/or effecting a reverse split of the shares of Common Stock to permit the issuance of the Conversion Shares and Warrant Shares and all shares of Common Stock issuable upon exercise or conversion of the Convertible Securities. It is understood and agreed that the Company will seek stockholder approval of the Articles of Amendment. It is hereby agreed by each Purchaser that in connection with such stockholder approval, each such Purchaser shall (i) cause all shares owned by such Purchaser, including shares owned by such Purchasers affiliates, representatives and family members, to be voted in favor of the Articles of Amendment, and (ii) take such other action as shall be reasonably necessary to cause the Articles of Amendment to become effective.

Named Entities:
38
39
Shares
156
158
Title
162
164
Title
172
174
Court

Tokenized Text:
(
j
)
Insufficient
Authorized
Shares
of
Common
Stock
;
Reservation
of
Shares
.
The
Purchaser
acknowledges
and
understands
that
the
Company
does
not
currently
have
a
sufficient
number
of
authorized
shares
of
Common
Stock
to
issue
the
Conversion
Shares
issuable
upon
conversion
of
the
Series
B
Preferred
Stock
and
the
Warrant
Shares
issuable
upon
exercise
of
the
Warrants
to
be
issued
in
the
Offering
.
Following
the
Closing
,
the
Company
shall
use
commercially
reasonable
efforts
to
increase
the
Companys
authorized
shares
of
Common
Stock
to
an
amount
sufficient
to
allow
the
Company
to
issue
all
of
the
shares
of
Common
Stock
issuable
(
i
)
upon
conversion
of
all
outstanding
shares
of
Series
B
Preferred
Stock
,
(
ii
)
exercise
of
all
outstanding
Warrants
,
and
(
iii
)
exercise
or
conversion
,
as
applicable
,
of
all
other
outstanding
convertible
securities
of
the
Company
(
Convertible
Securities
)
;
including
by
filing
Articles
of
Amendment
to
the
Companys
Articles
of
Incorporation
with
the
Secretary
of
State
of
the
State
of
Florida
(
the
Articles
of
Amendment
)
increasing
the
Companys
authorized
Common
Stock
and
/
or
effecting
a
reverse
split
of
the
shares
of
Common
Stock
to
permit
the
issuance
of
the
Conversion
Shares
and
Warrant
Shares
and
all
shares
of
Common
Stock
issuable
upon
exercise
or
conversion
of
the
Convertible
Securities
.
It
is
understood
and
agreed
that
the
Company
will
seek
stockholder
approval
of
the
Articles
of
Amendment
.
It
is
hereby
agreed
by
each
Purchaser
that
in
connection
with
such
stockholder
approval
,
each
such
Purchaser
shall
(
i
)
cause
all
shares
owned
by
such
Purchaser
,
including
shares
owned
by
such
Purchasers
affiliates
,
representatives
and
family
members
,
to
be
voted
in
favor
of
the
Articles
of
Amendment
,
and
(
ii
)
take
such
other
action
as
shall
be
reasonably
necessary
to
cause
the
Articles
of
Amendment
to
become
effective
.