Common use of Options or Warrants Clause in Contracts

Options or Warrants. There are no existing warrants, calls, commitments or other rights of any character relating to authorized and unissued CTI stock, except (a) options, warrants, calls or commitments, if any, to which CTI is not a party and by which it is not bound; (b) options to acquire an aggregate of not more than 2,000,000 shares of CTI Common Stock; (c) conversion rights held by the holders of CTI Preferred Stock to convert such stock into an aggregate of 667,000 shares of CTI Common Stock; and (d) an aggregate of 483,333 shares of CTI Common Stock for convertible debt.

Options or Warrants. There are no existing options, warrants, calls, commitments commitments, or other rights of any character relating to the authorized and unissued CTI stockCommon Stock, except (a) options, warrants, calls calls, or commitmentscommitment, if any, to which CTI is not a party and by which it is not bound; (b) options to acquire an aggregate of not more than 2,000,000 2,338,800 shares of CTI Common Stock; (c) conversion rights held by the holders of CTI Preferred Stock to convert such stock into an aggregate of 667,000 shares of CTI Common Stock; and (d) an aggregate of 483,333 shares of CTI Common Stock for convertible debt.

Options or Warrants. There are no existing options, warrants, calls, commitments commitments, or other rights of any character relating to the authorized and unissued NewCo stock or CTI stockCommon Stock, except (a) options, warrants, calls calls, or commitmentscommitment, if any, to which CTI is not a party and by which it is not bound; (b) options to acquire an aggregate of not more than 2,000,000 2,525,240 shares of CTI Common Stock; (c) conversion rights held by the holders of CTI Preferred Stock to convert such stock into an aggregate of 667,000 shares of CTI Common Stock; and (d) other commitments to issue an aggregate of 483,333 shares of CTI Common Stock for convertible debtStock.