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As approved by our board of directors and shareholders,
we effected a 1-for-400 stock split of our common shares effective July 15, 2016. We did not effect a
reverse split of any of our
warrants and instead, each warrant is exercisable into 1/400th of a share of our common stock. All share related and per share
information was adjusted to give effect to the reverse stock split from the beginning of the earliest period presented.
We have again sought approval from our shareholders
to effect a reverse split of our common stock in a range of 1-for-100 to 1-for-400 as set forth in our
Definitive Proxy Statement
on Schedule 14A filed with the SEC on October 17, 2016. As stated in the 14A, we have asked our shareholders for their consent
nolater than November 14, 2016. This reverse split is to increase our stock price and to make shares available for conversion
for satisfaction of our November 2015
notes.
