Item 1.01 Entry into a Material Definitive Agreement.
On
The Shares issued under the terms of the Exchange Agreement to the Series A
Holders ("Exchanging Holders") were issued in exchange for: (i) each Exchanging
Holder's rights to receive a cash payment equal to such Exchanging Holder's
respective portion of the Dividend Amount; and (ii) a covenant not to pursue
legal action against the Company for the Company's failure to pay the Dividend
Amount when due (the "Exchange"). The Shares issued in connection with the
Exchange reduced the Dividend Amount payable in cash by
The foregoing description of the Exchange Agreement does not purport to be complete, and is qualified in its entirety by reference to the full text of the form of Exchange Agreement, attached to this Current Report on Form 8-K as Exhibit 10.1, and incorporated by reference herein.
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