We are authorized to issue 25,000,000 shares of preferred stock, and have designated 2,000,000 shares of our authorized preferred stock as Series A Convertible Preferred Stock. Our Series A Preferred Stock is entitled to receive the same dividends as our common stock, is convertible on a one-for-onebasis into our common stock at the option of the holder, and has one hundred (100) votes per share on all matters to which our shareholders are entitled to vote. The Company cannot take certain corporate actions, such as a sale of all or substantially all of its assets or stock which results in a change of control, alter the rights, privileges and preferences or increase the authorized number of shares of the Series A Preferred Stock, or effectuate a forward or reverse stock split or dividend of our common stock.