As of the Signing Date, the authorized capital stock of the Company consists of one hundred and one million (101,000,000) shares consisting of one hundred million (100,000,000) shares of Common Stock, par value US$0.0001 per share (the “ Common Stock ”), and one million (1,000,000) shares of preferred stock, par value US$0.0001 per share (the “ Preferred Stock ”), of which 37,261,739 shares of Common Stock and 0 shares of Preferred Stock were issued and outstanding as of June 15, 2017, and all such outstanding shares of Common Stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable. After giving effect to the Shareholder Approval, the Securities will be duly authorized, and when issued in accordance with this Agreement, (i) will be validly issued, fully paid and non-assessable and will be free and clear of any Encumbrances (other than, with respect to any Investor, any Encumbrances created by or through such Investor and restrictions on transfer imposed by the Securities Act, and applicable State Securities Laws) and each Investor will have good title thereto and (ii) will not have been issued in violation of any preemptive or subscription rights and, except for the anti-dilution provisions in the Company’s outstanding warrants and equity awards issued or to be issued under the Company’s 2014 Share Incentive Plan (as amended and restated by the Company’s Board of Directors (the “ Board ”) on August 7, 2015 and May 9, 2016), will not result in the anti-dilution provisions of any security of the Company becoming applicable.