As of the date hereof, the authorized common stock of the Company consists of 6,250,000,000 authorized shares of Common Stock, $0.00001 par value per share, of which 2,042,571,027 shares are issued and outstanding; and 169,871,795 shares are reserved for issuance upon conversion of the Note. All of such outstanding shares of capital stock are, or upon issuance will be, duly authorized, validly issued, fully paid and non-assessable. .