As of the date hereof, the authorized capital stock of the Company consists of 1,000,000,000 shares of the Common Stock, par value $0.00001 per share, of which as of the date hereof, 295,941,234 shares are issued and outstanding, and 100,000,000 shares of preferred are authorized. All of such outstanding shares have been, or upon issuance will be, validly issued and are fully paid and nonassessable.