Subject to the terms and conditions hereof, the Company hereby agrees to issue and sell to each Purchaser and each Purchaser hereby agrees, severally and not jointly, to purchase from the Company, its respective Securities, and each Purchaser agrees, severally and not jointly, to pay the Company the Unit Price for the Securities. The Purchased Units will not be issued to purchasers or certificated. Purchasers will receive only shares of Common Stock and Warrants. The Common Stock and the Warrants may be transferred separately immediately upon issuance.