Fair Valuation

Fair Valuation. Means, (a) if the Common Stock is then listed and trading on a domestic securities exchange, (x) the volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed, or (y) if there have been no sales of the Common Stock on any such exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; or (b)... if at the applicable time of determination, the Common Stock is not listed on any domestic securities exchange, the "Fair Valuation" of the Common Stock shall be the fair market value per share as determined by a nationally recognized investment banking, accounting or valuation firm selected by the Company and reasonably acceptable to Payee. The determination of such firm shall be final and conclusive, and the fees and expenses of such valuation firm shall be borne by the Company unless the fair market value per share of the Common Stock, as determined by such firm is US $0.60 (fifty cents US) or more, in which case the fees and expenses of such valuation firm shall be borne by Payee. View More