The Company may hold an initial closing (“ Initial Closing ”) at any time after a sum equal to or greater than Five Million US dollars (US$5,000,000) (the “ Minimum Offering Amount ”) has been raised and may continue the Offering until such time as Ten Million US dollars (US$10,000,000) has been raised at which time the Offering will terminate. After the Initial Closing of and the Escrow Agent’s receipt of total net proceeds from sale of Shares, subsequent closings with respect to additional Shares may take place at any time prior to the Termination Date as determined by the Company, with respect to subscriptions accepted prior to the Termination Date (each such closing, together with the Initial Closing, being referred to as a “ Closing ”). The last Closing of the Offering, occurring on or prior to the Termination Date, shall be referred to as the “ Final Closing ”. The date of the Initial Closing shall be referred to as the “ Initial Closing Date ” and the date of each subsequent closing shall be referred to as a “ Subsequent Closing Date ”. The Initial Closing and all subsequent Closings shall occur at the offices of the Company in Irvine, California, USA (or such other place as is mutually agreed to by the Company and the Investors). In the event that the Investor or any other investor in the Offering elects to exercise his or its “Rescission Right” (as described in Article III of this Agreement), all subscription documents or funds received from such person or entity will be returned, without interest or deduction.