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In connection with the financing, the Company agreed

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Squeejo   Wednesday, 12/02/15 05:00:29 PM
Re: TheTradingNinja post# 14068
Post # of 14092 

In connection with the financing, the Company agreed to increase the conversion rate of the outstanding Series C Preferred Stock from one share to five shares of common stock and to effectuate a reverse stock split prior to November 20, 2015. If the appropriate filings are not made by such time to take such actions, Alpha Capital Anstalt has the right to declare such failure an event of default pursuant to its secured convertible promissory note and to also require the Company to purchase its Series C Preferred Stock.

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