Applicable Value

Applicable Value. (i) at any time that the Company is subject to the reporting requirements under the Exchange Act, (A) the product of (x) the number of issued and outstanding shares of Common Stock on the date the Company delivers the Major Transaction Notice (as defined in Section 3(b)) multiplied by (y) the per share closing price of the Common Stock on such date plus (B) the amount of the Company's debt as shown on the latest financial statements filed with the SEC (the 'Current Financial Statements') plus... (C) the aggregate liquidation preference of each class of the Company's preferred stock less (D) the amount of cash and cash equivalents of the Company as shown on the Current Financial Statements; and (ii) at any time that the Company is not subject to the reporting requirements under the Exchange Act, the book value of the Company's assets as shown on the most recent financial statements of the Company. View More