e Company agreed to seek the approval of its share

e Company agreed to seek the approval of its shareholders to increase its authorized common stock and effect a reverse split. The Company and the investors agreed that an increase in its authorized common stock would not be necessary if the Company effect the reverse stock split which will have the effect of increasing the shares of common stock available for future issuance. The increase in the available authorized but unissued shares of the Company’s common stock will also allow the Company to satisfy conversions of all outstanding convertible securities of the Company. The Company has over the last 12 months entered into securities purchase agreements with investors for the sale of its Series E and Series H Preferred Stock and warrants.