Except as set forth on Schedule 3.10 , 12RT does not have any subsidiaries or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations. Each subsidiary of 12RT is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and has the requisite corporate power and authority to own, lease and to carry on its business as now being conducted. Each subsidiary of 12RT is duly qualified to do business and is in good standing as a corporation in each of the jurisdictions in which 12RT owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have a material adverse effect on the business of 12RT and its subsidiaries taken as a whole. 12RT owns all of the shares of each subsidiary of 12RT and there are no outstanding options, warrants, subscriptions, conversion rights, or other rights, agreements, or commitments obligating any subsidiary of 12RT to issue any additional common shares of such subsidiary, or any other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from any subsidiary of 12RT any shares of such subsidiary.