As of the date hereof, the SPV held (a) 9,615,385 warrants to purchase shares of Common Stock for $0.858 per share, which are currently exerciseable and (b) 4,000,000 warrants to purchase shares of Common Stock for $0.828 per share, which warrants are exerciseable beginning on February 28, 2010. All the above warrants contain a contractual provision that disallows their exercise to the extent that the SPV and its affiliates would, as a result of such exercise, beneficially own more than 4.99% of the Common Stock of the Issuer. Acordingly, the SPV has beneficial ownership of 5,584,836 shares of Common Stock underlying the warrants, which is equal to 4.99% of the outstanding Common Stock of the Issuer. Beneficial ownership of the above-referenced Common Stock was transferred to the SPV by the Partnership on December 31, 2009, and accordingly, the Partnership and the General Partner no longer have beneficial ownership of the Common Stock.
The percentages herein are calculated based upon the 106,335,723 shares of Common Stock issued and outstanding as of October 31, 2009, as reported on the Issuer's Form 10-Q filed with the SEC on November 6, 2009, plus the shares underlying the 5,584,836 warrants that are currently exerciseable pursuant to the 4.99% beneficial ownership limitation.