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Thursday, October 30, 2014 9:12:08 PM
Certain restrictions on Dominion’s ability to exercise the Warrants or convert the Notes may have little, if any, effect on the adverse impact of our issuance of shares in connection with the exercise of the Warrants or conversion of the Notes, and as such, Dominion may sell a large number of shares, resulting in substantial dilution to the value of shares held by existing stockholders.
Dominion is prohibited, except in certain circumstances, from exercising the Warrants or converting the Notes to the extent that the issuance of shares would cause Dominion to beneficially own more than 4.99% of our then-outstanding Common Stock. These restrictions however, do not prevent Dominion from selling shares of Common Stock received in connection with an exercise or conversion, and then receiving additional shares of Common Stock in connection with a subsequent exercise or conversion. In this way, Dominion could sell more than 4.99% of the outstanding Common Stock in a relatively short time frame while never holding more than 4.99% at any one time. As a result, existing stockholders and new investors could experience substantial dilution in the value of their shares of Common Stock.
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