As of the date of this Agreement, the Company has 100,000 authorized shares of preferred stock, par value $0.01 per share, of which 1,080 shares are issued and outstanding (which shares are convertible into 7,550,000 shares of Common Stock), and 180,000,000 authorized shares of Common Stock, of which 89,771,379 shares are issued and outstanding (plus an additional 3,227,005 shares that are pending issuance).