<SEC-DOCUMENT>0001513162-17-000095.txt : 20170331
<SEC-HEADER>0001513162-17-000095.hdr.sgml : 20170331
<ACCEPTANCE-DATETIME>20170331083008
ACCESSION NUMBER:		0001513162-17-000095
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20170331
DATE AS OF CHANGE:		20170331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITUS Corp
		CENTRAL INDEX KEY:			0000715446
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				112622630
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-217060
		FILM NUMBER:		17728065

	BUSINESS ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		31044845200

	MAIL ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COPYTELE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>forms3.htm
<DESCRIPTION>FORM S-3
<TEXT>
<HTML>
<head><title>S-3</title> </head> <body vlink=purple link=blue lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>As filed with the Securities and Exchange Commission on March 31, 2017</font></b></p><p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Registration No. 333-</font></b><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>______</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>UNITED STATES</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>SECURITIES AND EXCHANGE COMMISSION</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Washington,&nbsp;D.C. 20549</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:14pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Form S-3</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:14pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS CORPORATION</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Exact Name of Registrant as Specified in its Charter)</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt' align=center>&nbsp;</p> <div align=center> <table width=783 bordercolor=transparent style=WIDTH:587.25pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:12.4pt> <td width=33% style="HEIGHT:12.4pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Delaware</font></b></p></td> <td width=34% style="HEIGHT:12.4pt; WIDTH:34%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>6794</font></b></p></td> <td width=33% style="HEIGHT:12.4pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>11-2622630</font></b></p></td></tr> <tr style=HEIGHT:24.75pt> <td width=33% style="HEIGHT:24.75pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(State or other jurisdiction of</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>incorporation or organization)</font></p></td> <td width=34% style="HEIGHT:24.75pt; WIDTH:34%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Primary Standard Industrial</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Classification Code Number)</font></p></td> <td width=33% style="HEIGHT:24.75pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(I.R.S. Employer</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Identification No.)</font></p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>12100 Wilshire Boulevard, Suite 1275</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Los Angeles, CA 90025</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Telephone: (310) 484-5200</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Address, including zip code, and telephone number,</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>including area code, of principal executive offices)</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Mr. Robert A. Berman</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>President and Chief Executive Officer</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS Corporation</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>12100 Wilshire Boulevard, Suite 1275</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Los Angeles, CA 90025</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Telephone: (310) 484-5200</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Address, including zip code, and telephone number,</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1including area code, of agent for service)</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Copies to:</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Barry I. Grossman, Esq.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Ellenoff Grossman &amp; Schole LLP</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1345 Avenue of the Americas, 11<sup>th</sup> Floor</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>New York, New York 10105</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Telephone: (212) 370-1300</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Fax Number: (212) 370-7889</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Approximate date of proposed sale to public:&nbsp;As soon as practicable on or after the effective date of this registration statement.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. </font><font style="FONT-SIZE:10pt; FONT-FAMILY:Wingdings; COLOR:black">x</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </font><font style="FONT-SIZE:10pt; FONT-FAMILY:Wingdings; COLOR:black">&#168;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </font><font style="FONT-SIZE:10pt; FONT-FAMILY:Wingdings; COLOR:black">&#168;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </font><font style="FONT-SIZE:10pt; FONT-FAMILY:Wingdings; COLOR:black">&#168;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer,&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act. (Check one):</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <div align=center> <table width=601 bordercolor=transparent style=WIDTH:450.45pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:12.4pt> <td width=61% style="HEIGHT:12.4pt; WIDTH:61.28%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Large accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]</font></p></td> <td width=38% style="HEIGHT:12.4pt; WIDTH:38.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;]</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=61% style="HEIGHT:12.4pt; WIDTH:61.28%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Non-accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;[ ]</font></p></td> <td width=38% style="HEIGHT:12.4pt; WIDTH:38.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Smaller reporting company &nbsp;&nbsp;[x]</font></p></td></tr> <tr style=HEIGHT:24.75pt> <td width=61% style="HEIGHT:24.75pt; WIDTH:61.28%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 1.1pt 0pt 0in; LINE-HEIGHT:normal' align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Do not check if a smaller reporting company)</font></p></td> <td width=38% style="HEIGHT:24.75pt; WIDTH:38.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 0pt 0in; LINE-HEIGHT:normal' align=center>&nbsp;</p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>CALCULATION OF REGISTRATION FEE</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Proposed</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Maximum</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Offering&nbsp;Price</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>per&nbsp;Share</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:white; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Proposed</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Maximum</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Aggregate</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Offering&nbsp;Price</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amount&nbsp;of</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Registration</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Fee</font></b></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:46%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Title&nbsp;of&nbsp;Each&nbsp;Class&nbsp;of&nbsp;</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Securities&nbsp;to&nbsp;Be&nbsp;Registered</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amount&nbsp;to&nbsp;Be</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Registered</font></b><sup><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;(1)</font></sup></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.75pt> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr style=HEIGHT:16.5pt> <td width=46% nowrap style="HEIGHT:16.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares of common stock <sup>(2)</sup></font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>947,606</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>5.04</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>4,775,934.24</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>553.53</font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=46% nowrap style="HEIGHT:16.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares of common stock <sup>(3)</sup></font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>40,000</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.05</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>122,000.00</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>14.14</font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=46% nowrap style="HEIGHT:16.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares of common stock underlying warrants <sup>(4)</sup></font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>500,000</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>5.03</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2,515,000.00</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>291.49</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Total</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1,487,606</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>N/A</strong></font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>$</strong></font></p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>7,412,934.24</strong></font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>$</strong></font></p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND-IMAGE:none; BACKGROUND-REPEAT:repeat; BACKGROUND-ATTACHMENT:scroll; BACKGROUND-POSITION:0% 0%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>859.16</strong></font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:38.25pt> <td width=3% style="HEIGHT:38.25pt; WIDTH:3.8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=7% style="HEIGHT:38.25pt; WIDTH:7.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(1)</font></p></td> <td width=88% style="HEIGHT:29.25pt; WIDTH:88.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Pursuant to Rule 416 of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), the shares of common stock offered hereby also include such presently indeterminate number of shares of the registrant&#146;s common stock as a result of stock splits, stock dividends or similar transactions.</font></p></td></tr> <tr style=HEIGHT:38.25pt> <td width=3% style="HEIGHT:38.25pt; WIDTH:3.8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=7% style="HEIGHT:38.25pt; WIDTH:7.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(2)</font></p></td> <td width=88% style="HEIGHT:38.25pt; WIDTH:88.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>The maximum offering price is being computed in accordance with Rule 457(a) of the Securities Act. The shares of common stock are being issued by the registrant in accordance with a right held by the registration pursuant to the terms of a patent acquisition agreement at a price per share of $5.04. The filing fee was previously paid.</font></p></td></tr> <tr style=HEIGHT:38.25pt> <td width=3% style="HEIGHT:38.25pt; WIDTH:3.8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=7% style="HEIGHT:38.25pt; WIDTH:7.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(3)</font></p></td> <td width=88% style="HEIGHT:0.25in; WIDTH:88.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Represents shares issued pursuant to the terms of a patent acquisition agreement. The proposed maximum offering price has been estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) under the Securities Act based on the average of the high and low sales price of the common stock on the Nasdaq Capital Market on March 29, 2017.</font></p></td></tr> <tr style=HEIGHT:38.25pt> <td width=3% style="HEIGHT:38.25pt; WIDTH:3.8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=7% style="HEIGHT:38.25pt; WIDTH:7.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(4)</font></p></td> <td width=88% style="HEIGHT:0.25in; WIDTH:88.6%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Represents shares of common stock issuable upon the exercise of warrants (the &#147;Warrants&#148;) issued in connection with our redemption of Series A Convertible Preferred Stock. The proposed maximum offering price per share is based on the exercise price of the warrant in accordance with Rule 457(g).</font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until this Registration Statement shall become effective on such date as the Securities and Exchange Commission acting pursuant to said Section 8(a) may determine.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:red'>The information in this prospectus is not complete and may be changed. We may not sell these securities until the Securities and Exchange Commission declares our registration statement effective. This prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:red'>Subject to Completion, dated March 31, 2017</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Prospectus</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS CORPORATION</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1,487,606 Shares of Common Stock</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>This prospectus relates to the resale by certain selling stockholders of up to </font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1,487,606&nbsp;<font style=COLOR:black>shares of common stock, par value $0.01 per share, of ITUS Corporation (&#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company,&#148; or &#147;ITUS&#148;) as follows:</font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>the resale of 947,606 shares of common stock by Meetrix Communications, Inc. (&#147;Meetrix&#148;) which have been issued</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>&nbsp;in satisfaction of an obligation owed by the Company to Meetrix in the amount of $4,775,934 pursuant to the terms of that certain Patent Acquisition Agreement, dated November 11, 2013, by and between the Company and Meetrix (the &#147;Patent Acquisition Agreement&#148;); and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>the resale of 40,000 shares of common stock by Meetrix which were issued pursuant to the terms of the Patent Acquisition Agreement; and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>the resale of 500,000 shares of common stock issuable upon the exercise of warrants (the &#147;Warrants&#148;) which were issued to Adaptive Capital, LLC (&#147;Adaptive Capital&#148;) on December 9, 2016 in connection with our redemption of 140 shares of our Series A Convertible Preferred Stock (the &#147;Series A Preferred&#148;), representing all of the Series A Preferred then outstanding, held by Adaptive Capital.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We will not receive any proceeds from the resale of any of the shares of common stock being registered hereby sold by the selling stockholders. &nbsp;However, we may receive proceeds from the exercise of the warrants held by Adaptive Capital exercised other than pursuant to any applicable cashless exercise provisions of the Warrants. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our common stock is listed on the Nasdaq Capital Market under the symbol &#147;ITUS.&#148; On March 29, 2017, the last reported sale price of our common stock on the Nasdaq Capital Market was $3.08 per share.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The selling stockholders may offer all or part of the shares for resale from time to time through public or private transactions, at either prevailing market prices or at privately negotiated prices. With regard only to the shares it sells for its own behalf, Meetrix and Adaptive Capital may each be an &#147;underwriter&#148; within the meaning of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The Company has paid all of the registration expenses incurred in connection with the registration of the shares. We will not pay any of the selling&nbsp;commissions, brokerage fees and related expenses.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Investing in our common stock involves a high degree of risk. See &#147;Risk Factors&#148; beginning on page&nbsp;7 to read about factors you should consider before investing in shares of our common stock.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Neither the Securities and Exchange Commission (the &#147;SEC&#148;) nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. &nbsp;Any representation to the contrary is a criminal offense.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The date of this prospectus is _________, 2017.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'></p> <hr style=PAGE-BREAK-AFTER:always> </font> <p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>You should rely only on the information contained in this prospectus. We have not authorized any other person to provide you with information different from or in addition to that contained in this prospectus. If anyone provides you with different or inconsistent information, you should not rely on it. We are not making an offer to sell these securities in any jurisdiction where an offer or sale is not permitted. You should assume that the information appearing in this prospectus is accurate only as of the date on the front cover of this prospectus. Our business, financial condition, results of operations and prospects may have changed since that date.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=TOC>TABLE OF CONTENTS</a></font></b><font size=+0><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><font size=+0><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>&nbsp;</font></b></font></font></b></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt' align=center>&nbsp;</p> <div align=center> <table width=565 bordercolor=transparent style="WIDTH:424pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:12.4pt; BORDER-RIGHT:0px; WIDTH:18%; BACKGROUND:white; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Page</font></b></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#CNote>Cautionary Note Regarding Forward-Looking Statements</a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#PS>Prospectus Summary </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#TheOffrng>The Offering </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>6</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#RF>Risk Factors </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>7</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#UOP>Use of Proceeds </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>17</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#DOP>Determination of Offering Price</a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>17</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#SS>Selling Stockholders</a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>18</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#POD>Plan of Distribution </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>19</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#DOSR>Description of Securities to be Registered </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>21</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#Experts>Experts </a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#LM>Legal Matters </a></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#WYCFAI>Where You Can Find Additional Information </a></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22</font></p></td></tr> <tr style=HEIGHT:13pt> <td width=82% style="HEIGHT:13pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#IDRef>Incorporation of Documents by Reference </a></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></p></td> <td width=18% style="HEIGHT:13pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=82% style="HEIGHT:12.4pt; WIDTH:82%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#DisclosureOfComm>Disclosure of Commission Position of Indemnification For Securities Law Violations</a></font></p></td> <td width=18% style="HEIGHT:12.4pt; WIDTH:18%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 1.1pt 1.1pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>23</font></p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In this prospectus, we rely on and refer to information and statistics regarding our industry. We obtained this statistical, market and other industry data and forecasts from publicly available information. While we believe that the statistical data, market data and other industry data and forecasts are reliable, we have not independently verified the data.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'> <hr style=PAGE-BREAK-AFTER:always> </font></div><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'></font> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=CNote>CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>This prospectus contains forward looking statements that involve risks and uncertainties.&nbsp; All statements other than statements of historical fact contained in this prospectus, including statements regarding future events, our future financial performance, business strategy, and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including &#147;anticipates,&#148; &#147;believes,&#148; &#147;can,&#148; &#147;continue,&#148; &#147;could,&#148; &#147;estimates,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;may,&#148; &#147;plans,&#148; &#147;potential,&#148; &#147;predicts,&#148; &#147;should,&#148; or &#147;will&#148; or the negative of these terms or other comparable terminology. Although we do not make forward looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks outlined under &#147;Risk Factors&#148; or elsewhere in this prospectus, which may cause our or our industry&#146;s actual results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Moreover, we operate in a highly regulated, very competitive, and rapidly changing environment. New risks emerge from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short term and long term business operations, and financial needs. These forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in this prospectus, and in particular, the risks discussed below and under the heading &#147;Risk Factors&#148; and those discussed in other documents we file with the SEC. The following discussion should be read in conjunction with the consolidated financial statements for the fiscal years ended October 31, 2016 and 2015 and notes incorporated by reference therein. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this prospectus may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statement.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this prospectus. You should be aware that the occurrence of the events described in the section entitled &#147;Risk Factors&#148; and elsewhere in this prospectus could negatively affect our business, operating results, financial condition and stock price. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this prospectus to conform our statements to actual results or changed expectations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>1 <hr style=PAGE-BREAK-AFTER:always> </font><b><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'> <p></font></b> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=PS>PROSPECTUS SUMMARY</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt 5.5pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>This summary highlights selected information contained elsewhere in this prospectus.&nbsp;&nbsp;This summary does not contain all the information that you should consider before investing in the common stock.&nbsp;&nbsp;You should carefully read the entire prospectus, including our &#147;Risk Factors&#148; and our public filings incorporated by reference hereto, before making an investment decision.</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Unless otherwise indicated, all references in this prospectus to &#147;dollars&#148; or &#147;$&#148; refer to US dollars. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Business Overview</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>ITUS Corporation, through its wholly owned subsidiary, Anixa Diagnostics Corporation, is using the power of the immune system to diagnose cancer. Cchek</font><font style="FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>, our early cancer detection blood test, monitors subtle changes that occur in the immune system throughout early tumor formation and tumor growth. We hope that Cchek will one day become part of the standard blood work ordered for patients during routine doctor visits.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Cancer survival data from the past 50 years indicates that the earlier cancer is diagnosed, the higher the likelihood of survival. For many cancers, such as breast cancer and prostate cancer, early diagnoses (e.g., at stage 1 or stage 2) often result in cancer survival rates of between 90% and 100%, while later diagnoses (e.g., at stage 3 or stage 4) often result in survival rates of less than 30%. While much of the focus and research dollars have been spent trying to cure advanced cancers, the cancer survival data indicates that technologies which can find cancer early have the potential to have an enormous impact on increasing cancer survival rates and reducing cancer mortalities. For those cancers for which we currently have cancer detection technologies, we believe existing diagnostics are outdated, yielding results that are often inaccurate and unreliable for the doctor and invasive and expensive for the patient. For many other cancers, there are no effective means of early cancer detection. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Although early in its development, the efficacy of Cchek has already been demonstrated with 15 cancer types, including lung cancer, breast cancer, colon cancer, prostate cancer, pancreatic cancer, ovarian cancer, liver cancer, thyroid cancer and seven other cancers. When tested using blood samples from biopsy verified cancer patients and blood samples from healthy patients, Cchek has demonstrated a high degree of accuracy in detecting early and late stage cancers, and a high degree of reliability in distinguishing the blood of cancer patients from healthy patients. While many of the newest immunotherapy drugs are attempting to modify or enhance the power of the immune system to treat advanced cancers, we are relying on certain types of immune cells to diagnose cancer. Through the use of proprietary methodologies and protocols for identifying and monitoring these cells, including the use of artificial intelligence to interpret results, we believe that it will be possible to diagnose the presence of many types of cancer early with a relatively simple, inexpensive blood test.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Over the next nine to 12 months, we intend to undertake several important steps that are necessary to continue the development of Cchek and prepare the technology for the regulatory approval process. We plan to accumulate and process a greater number of cancer blood samples and normal blood samples, to be tested under consistent conditions and with the same protocols. We also intend to test benign conditions to determine whether we can successfully distinguish benign conditions from cancer. We expect to continue the development of our neural network and our use of artificial intelligence to determine whether it is capable of distinguishing one type of cancer from another. Finally, we aim to standardize our processes and procedures for Cchek and test and simulate a variety of varying conditions that may occur with the widespread distribution of a diagnostic test to determine the effects that such conditions may have on test results following commercialization.&nbsp; </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Company History</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>We were incorporated in November 1982 under the laws of the State of Delaware. From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. Beginning in October 2012, under the leadership of a new management team, we recapitalized our company, changed our corporate name and trading symbol, relocated our headquarters and modernized our computer systems. In July 2015, our shares of common stock began trading on NASDAQ.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>In June 2015, we announced the formation of a new subsidiary, Anixa Diagnostics Corporation (&#147;Anixa&#148;) to develop a platform for non-invasive blood tests for the early detection of cancer. That platform is called Cchek&#153;. In July 2015, we announced a collaborative research agreement with The Wistar Institute (&#147;Wistar&#148;), the nation&#146;s first independent biomedical research institute and a National Cancer Institute designated cancer research center, for the purpose of validating our cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood which we identified and which are known to be associated with malignancies. In August 2016, we announced the renewal and expansion of our relationship with Wistar. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>2</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Company Operations</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>In October 2015, we and Wistar announced favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent of the blood samples tested from patients with varying stages of breast cancer showed the presence of the biomarkers we identified, and none of the healthy patient blood samples contained the biomarkers. Breast cancer is the second most common cancer in the United States and throughout the world.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>In April 2016, we announced that we had demonstrated the efficacy of our Cchek early cancer detection platform with lung cancer. Lung cancer is the leading cause of death among cancers in the United States and throughout the world, accounting for approximately 27% of all cancer related deaths in the United States and 19% worldwide. In September 2016, we announced that we had demonstrated the efficacy of our Cchek early cancer detection platform with colon cancer. Colon cancer is the third most common cancer in men and the second most common cancer in women worldwide, with approximately 1.4 million new cases diagnosed each year, and approximately 700,000 deaths. At the end of September 2016 through the end of October 2016, we made similar announcements with respect to the efficacy of our Cchek early cancer detection platform for melanoma, ovarian cancer, liver cancer, thyroid cancer and pancreatic cancer. In November 2016, we announced that we had demonstrated the efficacy of our Cchek early cancer detection platform with six additional cancer types including appendiceal cancer (cancer of the appendix), uterine cancer, osteosarcoma (cancer of the bone), leiomyosarcoma (cancer of the soft tissue), liposarcoma (cancer of the connective tissue), and vulvar cancer (cancer of the vulva). In January 2017, we announced that we had demonstrated the efficacy of our Cchek early cancer detection platform with prostate cancer, bringing the number of cancer types for which the efficacy of Cchek has been validated to 15 through that date. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>On December 7, 2016, MD Anderson Cancer Center enrolled to join our early cancer detection biomarker study. Patient blood samples produced by MD Anderson will assist us in achieving the critical mass necessary to begin discussions with regulators.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Our Cchek cancer detection platform measures a patient's immune response to a malignancy by detecting the presence, absence and quantity of certain immune cells that exist in and around a tumor and that enter the blood stream. These types of cells and the tumor microenvironment have been the focus of recent groundbreaking published and reported research in immune-oncology, enabling the development of novel immunotherapies used for treating certain cancer types. Instead of seeking to alter or boost the body&#146;s immune system and its ability to destroy cancer cells, as is the case with immunotherapy drugs, we have developed proprietary techniques and protocols for measuring the subtle immunological changes that occur in the blood stream during tumor development. Specifically, we seek to identify a subset of myeloid cells that we believe are diagnostic. These cells, often referred to as Myeloid Derived Suppressor Cells (MDSCs), are identified by specific surface proteins enabling characterization. We generally refer to MDSCs and other cells of the immune system that we believe can be diagnostic in nature as biomarkers. Through our proprietary protocols, we have had early success and have demonstrated accuracy in detecting these biomarkers in the peripheral blood of biopsy verified cancer patients, and in distinguishing the blood of healthy patients from the blood of cancer patients. Our goal is to establish Cchek as a non-invasive, inexpensive, cancer diagnostic blood test that can reduce or eliminate the need for traditionally expensive, invasive, painful and often inaccurate cancer diagnostic procedures which are currently in use. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>In each instance where we have demonstrated the efficacy of our cancer detection platform, fresh (utilized within 48 hours) blood samples from biopsy verified cancer patients have been tested at Wistar using a variety of experimental methodologies and protocols. Such unblinded, non-uniform testing is common during the initial development stage of new technologies and diagnostic tests. Blood samples from patients with differing severities of cancers (with some cancers such as breast cancer stage 0 to stage 4) have been tested, including samples from both pre-treatment and post-treatment patients. In addition, Wistar has also tested blood from healthy donors. A critical aspect of any cancer diagnostic is the ability to accurately distinguish patients with cancer from healthy patients. Based upon our early results, our scientists are working with Wistar to finalize protocols and methodologies for identifying and classifying the immunologic biomarkers that are the foundation for our Cchek early cancer detection platform. Although our scientists, working in collaboration with Wistar, will continue to improve our processes and methodologies to achieve maximum performance, we expect our testing to become more uniform over time and to eventually test patient samples in a double-blinded manner. While studies comparing biopsy verified cancer patients have been compared to healthy donors, we have not yet evaluated benign conditions such as non-malignant neoplasias, systemic inflammatory conditions, infections and other potential conditions that impact or may impact the immune system. Such testing will be necessary for regulatory approval.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>3</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Based upon and following the results of a more extensive clinical study, we intend to determine what further studies are necessary and whether and when to begin the process of seeking regulatory approval for a cancer screening test or confirmatory diagnostic test based upon our Cchek technology. One manner of seeking regulatory approval is to have a lab certified to run our cancer tests pursuant to the Clinical Laboratory Improvement Act of 1967 and the Clinical Laboratory Improvement Amendments of 1988 (together, &#147;CLIA&#148;). Among other requirements, CLIA requires clinical laboratories that perform diagnostic testing to be certified by the state in which the lab is located, as well as the Center for Medicare and Medicaid Services. If we seek regulatory approval pursuant to CLIA, only those laboratories that are certified under CLIA to run our diagnostic test would be able to process test samples. CLIA certification may or may not require additional studies. We may seek to establish our own CLIA certified laboratory to run the diagnostic tests, or we may potentially contract with an existing CLIA certified lab, and seek to have that laboratory certified to run our diagnostic test.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Another manner of obtaining regulatory approval would be to seek to have Cchek approved by the Food and Drug Administration (&#147;FDA&#148;), pursuant to what are commonly referred to as either the 510(K) process or the Premarket Application (&#147;PMA&#148;) process. The appropriate pathway for FDA approval would depend upon a variety of factors including the intended use of the test and the risks associated with such use. FDA approval can take several years and would entail additional clinical studies.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Our decision as to whether and when to seek CLIA certification or FDA approval of a diagnostic test or tests utilizing our Cchek technology will be dependent on a variety of factors including the results from more extensive clinical studies, the capital requirements of each approval process, the landscape for competitive diagnostic testing and the time and resources required by each approval process. It is possible that we may seek to have one or more diagnostic tests approved via CLIA certification, and other diagnostic test or tests approved by the FDA, or that we may seek simultaneous FDA approval and CLIA certification of a particular diagnostic test or tests.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>During the balance of 2017, we expect Cchek to be the primary focus of our company. As part of our legacy operations, we remain engaged in limited patent licensing activities in the area of encrypted audio/video conference calling. We do not expect these activities to be a significant part of our ongoing operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Over the past several fiscal quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to our Anixa subsidiary, we may make investments in and form new companies to develop additional emerging technologies.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><strong>Recent Developments</strong></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</font></b></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On January 19, 2017, we announced that our board of directors had approved a rights offering for our stockholders of up to $12,000,000. The rights offering included the non-transferable right to purchase one (1) share of our common stock, at a discount, for each share of our common stock owned by stockholders on the ownership day of Friday, February 24, 2017.&nbsp; The subscription period for the rights offering commenced on March 3, 2017 and expired on March 24, 2017. We expect to close the rights offering on or about March 31, 2017. </font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Selling Stockholders</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Meetrix Communications Inc.</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On November 11, 2013, the Company entered into the Patent Acquisition Agreement with Meetrix.&nbsp; Pursuant to the terms of the Patent Acquisition Agreement, which was entered into by the Company in connection with its former business operations involving the development of patented technologies in the areas of thin-film displays and encryption, the Company purchased from Meetrix its right, title and interest in four U.S. patents (Meetrix maintained a limited license to continue to use the patents). In consideration for its purchase of the patents, the Company issued to Meetrix 40,000 shares of common stock (the &#147;Meetrix Shares&#148;), granted Meetrix a continuing royalty in the net proceeds earned by the Company relating to the patents (the &#147;Meetrix Royalty&#148;) and agreed to pay to Meetrix, on no later than the fourth anniversary of the effective date of the Patent Acquisition Agreement, $5,000,000 (less the value of the Meetrix Shares and any Meetrix Royalty payments) (the &#147;Meetrix Obligation&#148;). Pursuant to the terms of the Patent Acquisition Agreement, the Company could elect to pay the Meetrix Obligation using stock of the Company, with a value given to the stock equal to ninety percent (90%) of the weighted average closing prices for the thirty (30) day period prior to such election. On December 27, 2016, the Company provided notice to Meetrix of its intention to issue shares of common stock to satisfy the Meetrix Obligation, which as of the date of such notice was $4,775,934. The price at which the Meetrix Obligation is being satisfied is $5.04 per share. On March 27, 2017, the 947,606 shares were issued to Meetrix.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>4</font></p></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Adaptive Capital, LLC</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>On September 9, 2014, we issued 140 shares of Series A Preferred to Adaptive Capital having an aggregate value of $3,500,000 and a warrant to purchase 370,000 shares of the Company&#146;s common stock (the &#147;September 2014 Warrant&#148;). The September 2014 Warrant expired on November 11, 2016.&nbsp; Holders of our Series A Preferred had a one-time right to require the Company to redeem the Series A Preferred shares, which right was set to expire on November 11, 2016 (the &#147;Redemption Date&#148;). Under its terms, the Series A Preferred could only be redeemed from the proceeds of the sale of the Company&#146;s equity securities.&nbsp; On November 11, 2016 the holder of all of our outstanding Series A Preferred exercised its right of redemption. On December 6, 2016, we entered into an agreement with the holder of the Series A Preferred setting forth the terms under which such redemption would take place (the &#147;Redemption Agreement&#148;) in lieu of paying the redemption from proceeds of sales of equity securities. Pursuant to the Redemption Agreement, upon closing, the holder of the Series A Preferred received (i) $500,000 in cash (ii) a 12% secured debenture evidencing the remaining $3,000,000 amount to be redeemed (the &#147;Redemption Debenture&#148;), and (iii) a 5 year Warrant to purchase 500,000 shares of the Company&#146;s common stock at an exercise price of $5.03 per share.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>The Redemption Debenture shall be paid in cash by the Company as follows: $1,000,000 of the principal amount shall be paid on or before June 1, 2017, and the remaining $2,000,000 of the principal amount shall be paid on or before November 11, 2017. Interest shall accrue on any unpaid principal of the Redemption Debenture at the rate of 12% per annum, payable in cash on the first day of each calendar quarter beginning 90 days after issuance of the Redemption Debenture, with all accrued and unpaid interest to be paid with the final payment of principal under the Redemption Debenture (regardless of such repayment date). The Redemption Debenture is secured by a lien on the Company&#146;s assets and prohibits the Company from incurring any senior indebtedness other than equipment financing in connection with the Company&#146;s business.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>The Warrant grants the holder the right to purchase 500,000 shares of common stock (such shares of common stock issuable upon exercise of the warrant, the &#147;Warrant Shares&#148;) at an exercise price equal to $5.03. The Warrant expires on November 11, 2021.&nbsp; If there is not an effective registration statement covering the Warrant Shares at the time that the Warrant is exercised, the Warrant may be exercised on a cashless basis, otherwise the Warrant holder must exercise for cash. </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Pursuant to the Warrant, Adaptive Capital may not exercise the Warrant if such exercise would result in the Adaptive Capital beneficially owning in excess of 4.99% of our then issued and outstanding common stock.&nbsp; A holder may, however, increase this limitation (but in no event exceed 9.99% of the number of shares of common stock issued and outstanding) by providing the Company with 61 days&#146; notice that such holder wishes to increase this limitation.&nbsp; In connection with this transaction, the Company granted the investor registration rights with respect to the Warrant Shares.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Where You Can Find Us</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our principal executive offices are located at 12100 Wilshire Boulevard, Suite 1275, Los Angeles, CA 90025, our telephone number is (310) 484-5200, and our Internet website address is <u>http://www.ITUScorp.com</u>. &nbsp;The information on our website is not a part of, or incorporated in, this prospectus.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>5 <hr style=PAGE-BREAK-AFTER:always> </font> <p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a name=TheOffrng>The Offering</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <div align=center> <table width=800 bordercolor=transparent style=WIDTH:600pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:24.75pt> <td width=42% style="HEIGHT:24.75pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common stock offered herein:</font></b></p></td> <td width=57% style="HEIGHT:24.75pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1,487,606 <font style=COLOR:black>shares </font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:24.75pt> <td width=42% style="HEIGHT:24.75pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common stock outstanding:</font></b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;(1)</font></p></td> <td width=57% style="HEIGHT:24.75pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>9,705,656 shares</font></p></td></tr> <tr style=HEIGHT:24.75pt> <td width=42% style="HEIGHT:24.75pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>Common stock outstanding after the offering: </strong>(1)</font></p></td> <td width=57% style="HEIGHT:24.75pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10,205,656 shares</font></p></td></tr> <tr style=HEIGHT:24.75pt> <td width=42% style="HEIGHT:24.75pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Meetrix Ownership:</font></b></p></td> <td width=57% style="HEIGHT:24.75pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Meetrix owns approximately 9.3% of our common stock assuming that Meetrix does not hold any other shares of common stock other than the shares being registered for resale herein.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr style=HEIGHT:98.1pt> <td width=42% style="HEIGHT:98.1pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Use of Proceeds:</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'>&nbsp;</p></td> <td width=57% style="HEIGHT:98.1pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We will not receive any proceeds from the sale of the common stock by the selling stockholders. We may receive proceeds upon the exercise of the Warrants (to the extent the registration statement of which this prospectus is a part is then effective and, if applicable, the &#147;cashless exercise&#148; provision is not utilized by the holder). Any proceeds will be used for general corporate and working capital or for other purposes that the Board of Directors, in their good faith, deems to be in the best interest of the Company. No assurances can be given that any of such warrant will be exercised. See &#147;Use of Proceeds.&#148;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:0.3in> <td width=42% style="HEIGHT:0.3in; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Listing of common stock:</font></b></p></td> <td width=57% style="HEIGHT:0.3in; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our common stock is listed on the Nasdaq Capital Market under the symbol &#147;ITUS.&#148;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:0.45in> <td width=42% style="HEIGHT:0.45in; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dividend policy:</font></b></p></td> <td width=57% style="HEIGHT:0.45in; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We currently intend to retain any future earnings to fund the development and growth of our business. Therefore, we do not currently anticipate paying cash dividends on our common stock.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr style=HEIGHT:40.5pt> <td width=42% style="HEIGHT:40.5pt; WIDTH:42.16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 11pt; LINE-HEIGHT:normal; TEXT-INDENT:-11pt'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Risk Factors:</font></b></p></td> <td width=57% style="HEIGHT:40.5pt; WIDTH:57.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>An investment in our company is highly speculative and involves a significant degree of risk.&nbsp;&nbsp;See &#147;Risk Factors&#148; and other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest in shares of our common stock.</font></p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt 5.5pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The number of shares of common stock shown above to be outstanding before and after this offering is based on the 9,705,656 shares outstanding as of March 30, 2017. The number of shares of common stock outstanding after this offering assumes that the Warrant has been exercised in full by Adaptive Capital. The number of shares of common stock outstanding before and after this offering excludes as of such date:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <table width=1000 bordercolor=transparent style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr> <td width=3% style="WIDTH:3.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=1% nowrap style="WIDTH:1.54%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></p></td> <td width=94% style="WIDTH:94.4%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1,186,872 shares of our common stock issuable upon exercise of stock options outstanding under our 2010 Share Incentive Plan, 422,666 of which are not currently exercisable, which have a weighted average exercise price of $3.29 per share and 195,400 shares of our common stock issuable upon exercise of stock options outstanding under our 2003 Share Incentive Plan which have a weighted average exercise price of $19.05 per share<font style=COLOR:black>;</font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr> <td width=3% style="WIDTH:3.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=1% nowrap style="WIDTH:1.54%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></b></p></td> <td width=94% style="WIDTH:94.4%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>764,000&nbsp;<font style=COLOR:black>shares of our common stock reserved for future issuance under our 2010 Share Incentive Plan;</font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr> <td width=3% style="WIDTH:3.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p></td> <td width=1% nowrap style="WIDTH:1.54%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></b></p></td> <td width=94% style="WIDTH:94.4%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1,780,000 shares of our common stock issuable upon the exercise of stock options outstanding pursuant to stock options that were not granted under the 2003 Share Plan or the 2010 Share Plan which have a weighted average exercise price of $2.70 per share; and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr> <td width=3% style="WIDTH:3.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=1% nowrap style="WIDTH:1.54%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></b></p></td> <td width=94% style="WIDTH:94.4%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1pt; PADDING-RIGHT:1pt" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>337,400 shares of our common stock issuable upon exercise of our outstanding warrants which have a weighted average exercise price of $10.02 (excluding the 500,000 shares of common stock issuable upon exercise of the Warrant).</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>6 <hr style=PAGE-BREAK-AFTER:always> </font> <p><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%' align=left><a href=#TOC><font size=2 color=#0066cc>Table of Contents</font></a></font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=RF>RISK FACTORS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>An investment in our common stock involves a high degree of risk. &nbsp;You should carefully consider the risks described below, together with all of the other information included in this prospectus, before making an investment decision with regard to our securities. The statements contained in this prospectus that are not historic facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. If any of the following risks actually occurs, our business, financial condition or results of operations could suffer. &nbsp;In that case, the trading price of our common stock could decline, and you may lose all or part of your investment.</font></i></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><b><u><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Risks Related to Our Financial Condition and Operations</font></u></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have a history of losses and may incur additional losses in the future</font></i></b><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>On a cumulative basis we have sustained substantial losses and negative cash flows from operations since our inception.&nbsp; As of January 31, 2017, our accumulated deficit was approximately $152,754,000.&nbsp; As of January 31, 2017, we had approximately $2,000,000 in cash and cash equivalents and short-term investments, and a working capital deficit of approximately $1,655,000. We incurred losses of approximately $5,016,000 in fiscal year 2016. We expect to incur material research and development expenses and to continue incurring significant legal and general and administrative expenses in connection with our operations.&nbsp; As a result, we anticipate that we will incur losses in the future.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>As a result of our current lack of financial liquidity, our independent registered public accounting firm (&#147;auditors&#148;) has expressed substantial doubt regarding our ability to continue as a &#147;going concern.&#148;</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>As a result of our historical losses and our current burn rate, our auditors&#146; report for our financial statements for the year ended October 31, 2016 contains a statement concerning our ability to continue as a &#147;going concern&#148; in the event that we are unable to obtain additional capital. Potential sources of capital include income from operations, debt and the sale of the Company&#146;s equity securities. Many factors impact our ability to generate capital including the results of our ongoing clinical trials, the price of our stock, the liquidity of our stock, factors that influence the capital markets, and the overall health of the U.S. and world economies.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Because Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;is at an early stage of development, it is not likely that we will generate revenue from operations for the foreseeable future. In the event that we are unable to raise additional capital, the ongoing development of Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;would be materially and adversely impacted as would the continuing viability of the Company.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our financial statements have been prepared assuming that we will continue as a going concern.&nbsp; In order for us to have sufficient capital to execute our business plan, fund our operations and meet our debt obligations over the next 12 months, we will need to raise additional capital.&nbsp; Although we have been successful in the past in raising capital, we cannot provide any assurance that we will be successful in doing so in the future to the extent necessary to be able to fund our operating activities and debt obligations over the next 12 months, which raises substantial doubt about our ability to continue as a going concern.&nbsp; Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We will need additional funding in the future which may not be available on acceptable terms, or at all, and, if available, may result in dilution to our stockholders.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Based on currently available information as of March 30, 2017, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows from operations&nbsp;will not be sufficient to fund our activities and debt obligations for the next 12 months.&nbsp;To date, we have relied primarily upon cash from the public and private sale of equity and debt securities, as well as net proceeds from the December 2014 settlement with AUO Optronics Corporation (&#147;AUO&#148;), to generate the working capital needed to finance our operations and to repay the Redemption Debenture.&nbsp;&nbsp;If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to continue to operate our business, we will be required to obtain more working capital.&nbsp; We may seek to obtain working capital through sales of our equity securities or through bank credit facilities or public or private debt from various financial institutions where possible which would rank junior in right of payment to our existing Redemption Debenture.&nbsp;We cannot be certain that additional funding will be available on acceptable terms, or at all.&nbsp; If we do identify sources for additional funding, the sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. &nbsp;We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp;&nbsp;If we fail to obtain additional working capital as and when needed, such failure could have a material adverse impact on our business, results of operations and financial condition.&nbsp; Furthermore, such lack of funds may inhibit our ability to respond to competitive pressures or unanticipated capital needs, or may force us to reduce operating expenses, which would significantly harm the business and development of operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>7</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><a href=#TOC><font size=2 color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Failure to pay our secured debt holder may result in a foreclosure.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>On September 9, 2014, we issued 140 shares of Series A Preferred having an aggregate value of $3,500,000 and a warrant to purchase 370,000 shares of the Company&#146;s common stock. The September 2014 Warrant expired on November 11, 2016.&nbsp; Holders of our Series A Preferred had a one-time right to require the Company to redeem the Series A Preferred shares, which right was set to expire on November 11, 2016. Under its terms, the Series A Preferred could only be redeemed from the proceeds of the sale of the Company&#146;s equity securities.&nbsp; On November 11, 2016 the holder of all of our outstanding Series A Preferred exercised its right of redemption. On December 6, 2016, we entered into an agreement with the holder of the Series A Preferred setting forth the terms under which such redemption would take place in lieu of paying the redemption from proceeds of the sale of equity securities. Pursuant to the Redemption Agreement, at closing the holder of the Series A Preferred received (i) $500,000 in cash,&nbsp;(ii) a 12% secured debenture evidencing the remaining $3,000,000 amount to be redeemed, $1,000,000 of which is due on or before June 1, 2017 and the remainder of which is due November 11, 2017, and (iii) a 5 year Warrant to purchase 500,000 shares of the Company&#146;s common stock with substantially the same terms as the expired September 2014 Warrant at an&nbsp;exercise price equal to $5.03 per share. The Redemption Debenture is secured by a lien on the Company&#146;s assets and prohibits the Company from incurring any senior indebtedness&nbsp;other than equipment financing in connection with the Company&#146;s business.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If we default under the Redemption Debenture, the creditor may seek to obtain a judgment against the Company for the remaining balance of the Redemption Debenture and attempt to foreclose on assets of the Company sufficient to repay the remaining balance of the Redemption Debenture. In the event of a default, if the Company is unable to re-negotiate the terms of the Redemption Debenture or raise sufficient capital to repay the remaining balance of the Redemption Debenture, such default would have a material adverse impact on the ongoing operations of the Company.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The terms set forth in the Redemption Debenture may make it difficult for us to borrow additional funds in the future.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Other than trade debt, the terms of the Redemption Debenture prohibit us from incurring indebtedness that ranks senior in right of payment to the Redemption Debenture.&nbsp; This restriction may make it difficult for us to borrow additional funds from third parties. Additionally, the Redemption Debenture is secured by a lien on the assets of the Company which may prevent us from incurring additional secured debt.&nbsp;If we are unable to raise additional capital through the issuance of debt&nbsp;such failure could have a material adverse impact on our business, results of operations and financial condition.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Failure to effectively manage our potential growth could place strains on our managerial, operational and financial resources and could adversely affect our business and operating results</font></i></b><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our business strategy and potential growth may place a strain on managerial, operational and financial resources and systems.&nbsp; Although we may not grow as we expect, if we fail to manage our growth effectively or to develop and expand our managerial, operational and financial resources and systems, our business and financial results will be materially harmed.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>8</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><u><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Risks Related to </font></u></b><b><u><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></u></b><b><u><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></u></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our cancer diagnostic business is&nbsp;pre-revenue, and subject to the risks of an early stage biotechnology company.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Since the Company&#146;s primary focus for the foreseeable future will likely be our cancer diagnostics business, shareholders should understand that we are primarily an early stage biotechnology company with no history of revenue-generating operations, and our only assets consist of our proprietary technologies and the know-how of our officers. Therefore we are subject to all the risks and uncertainties inherent in a new business, in particular new businesses engaged in the early detection of certain cancers.&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;is in its early stages of development, and we&nbsp;still must establish and implement many important functions necessary to commercialize the technology.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accordingly, you should consider the Company&#146;s prospects in light of the costs, uncertainties, delays and difficulties frequently encountered by companies in their pre-revenue generating stages, particularly those in the biotechnology field. Shareholders should carefully consider the risks and uncertainties that a business with no operating history will face. In particular, shareholders should consider that there is a significant risk that we will not be able to:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <ul type=disc style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>demonstrate the effectiveness of Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>implement or execute our current business plan, or that our current business plan is sound;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>raise sufficient funds in the capital markets or otherwise to fully effectuate our business plan;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>maintain our management team, including the members of our scientific advisory board;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>determine that the processes and technologies that we have developed or will develop are commercially viable; and/or</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>attract, enter into or maintain contracts with potential commercial partners such as licensors of technology and suppliers.</font> </li></ul> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:24.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Any of the foregoing risks may adversely affect the Company and&nbsp;result in the failure of our business. In addition, we expect to encounter unforeseen expenses, difficulties, complications, delays and other known and unknown factors. At some point, we&nbsp;will need to transition from a company with a research and development focus to a company capable of supporting commercial activities. We may not be able to reach such achievements, which would have a material adverse effect on our Company.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We may have difficulty in raising capital for our cancer diagnostic business and may consume resources faster than expected.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:24.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We currently do not generate any revenue from Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;or otherwise and as of January 31, 2017, the Company had $2,000,000 in cash, cash equivalents and short-term investments. Therefore, we have a limited source of cash to meet our future capital requirements, which will include the repayment of the Redemption Debenture and may include the expensive process of obtaining FDA approval for Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;for each type of cancer for which we desire to launch a diagnostic test. We do not expect to generate revenues for the foreseeable future, and we may not be able to raise funds in the future, which would leave us without resources to continue our operations and force us to resort to the Company raising additional capital in the form of equity or debt financings, which may not be available to us. We may have difficulty raising needed capital in the near or longer term as a result of, among other factors, the very early stage of&nbsp;our diagnostic business and our lack of revenues as well as the inherent business risks associated with an early stage, biotechnology company and present and future market conditions. Also, we may consume available resources more rapidly than currently anticipated, resulting in the need for additional funding sooner than anticipated. Our inability to raise funds could lead to decreases in the price of our common stock and the failure of our cancer diagnostic business which would have a material adverse effect on the Company.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>9</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>While our&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;diagnostic technology has shown favorable results from initial testing, we cannot guarantee that these results will be replicated in future testing nor can we guarantee the success of the technology at all.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have initially used&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;to test the blood of small groups of individuals consisting of cancer patients and healthy patients and have reported sensitivity of 92% and specificity of 92%. While these preliminary results far exceed existing diagnostic testing, there is no guarantee that these results will be replicable when we test a larger group of patients or at all. If we are unable to consistently attain results that are necessary for commercialization of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;,</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;our diagnostic technology will not have any monetary value and we will be unable to generate any revenue from this technology.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Even if we are able to attain results necessary for the commercialization of&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, our ability to commercialize the technology in the future will depend on our ability to provide evidence of clinical utility.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our ability to successfully commercialize&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;will depend on numerous factors, including whether health care providers believe that&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;provides sufficient incremental clinical utility; whether the medical community accepts that&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;has&nbsp;sufficient sensitivity (there are no or very few false positives), specificity (detects the cancer the test is supposed to detect) and predictive value to be meaningful in patient care and treatment decisions; whether the cost of the test is reasonably priced and commercially viable; and whether health insurers, government health programs and other third-party payers will cover and pay for&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;and the amount that they will reimburse for such tests. These factors may present obstacles to commercial acceptance of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.&nbsp;&nbsp;To the extent these obstacles arise, we will need to devote substantial time and resources to overcome these obstacles, and we might not be successful. Failure to achieve widespread market acceptance of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;would materially harm our business, financial condition and results of operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We are unable to give any assurance that we will be successful in providing sufficient evidence of clinical utility or any assurance that we will have adequate managerial, technical or financial resources to support the studies necessary to provide sufficient evidence of clinical utility of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;or to adequately differentiate our test from other diagnostic products in the manner, timeframe or cost parameters we anticipate, if at all. If we are unable to provide evidence of clinical utility and differentiate&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, we will not be able to generate the revenues and market growth that we seek. Our failure to generate revenue from the sale of our products would materially adversely impact our business, financial condition, results of operations and prospects.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Diagnostic test development involves a lengthy and complex process, and we may be unable to commercialize&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;on a timely basis, or at all.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have begun to devote considerable resources to research and development for&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, however there can be no assurance that&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;will be capable of reliably predicting the occurrence or recurrence of any cancers with the sensitivity and specificity necessary to be clinically and commercially useful, or, even if such technology is clinically and commercially useful, that it will result in commercially successful products. In addition, before we can fully develop&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;and commercialize any new products, we will need to:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <ul type=disc style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>conduct substantial research and development;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>conduct validation studies;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>expend significant funds;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>enter into agreements and maintain relationships with third party vendors to provide third party blood samples;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>obtain regulatory approval (either CLIA, FDA or both); and</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>establish or contract with the owner of a CLIA certified laboratory to process test samples.</font> </li></ul> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accordingly, our product development process involves a high degree of risk and may take several years, especially if the Company seeks FDA approval for each of its diagnostic tests. If&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;should fail at the research or development stage, not produce sufficient clinical validation data to support the effectiveness of the product or not gain regulatory approval or if we should run out of cash to devote towards the commercialization of the technology or fail to establish agreements with necessary third party vendors, we will not make it to commercialization and we will not generate any revenue from the technology.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If we fail to obtain, or if there are delays in obtaining, required regulatory approvals, we will not be able to commercialize our&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;technology, and our ability to generate revenue and the viability of our Company will be materially impaired.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Commercialization of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;will require that we obtain either CLIA certification, FDA approval or both. If we are unable to obtain regulatory approval for&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, we will be unable to commercialize and generate revenue from the technology which would have a material adverse effect on our business, financial condition and results of operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Unless we obtain FDA approval for&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, we will be dependent on laboratory contractors for testing of patient samples that are essential to the development and validation of&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>To pursue the development and validation of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, we will require access to test results obtained from patient blood samples. We have currently contracted with Wistar to provide these services. Unless and until&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;receives FDA approval, we may elect to seek CLIA certification for one or more of our&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;tests. Failure to receive FDA approval or CLIA certification would have a material adverse effect on our ability to develop and validate&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We will be dependent on third parties for the patient samples that are essential to the development and validation of </font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>To pursue our development and validation of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, we are likely to need access, over time, to patient blood samples and such patients will need to consent to the use of their blood. As a result, we have made arrangements with Wistar and neighboring hospitals and medical practices to give us access to patient samples for the development and validation of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.&nbsp;In the event that we are unable to obtain patient samples, or access to patient samples becomes more limited due to changes in privacy laws governing the use and disclosure of medical information or due to changes in the laws restricting our ability to obtain patient samples and associated information, our ability to pursue the development of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;may be slowed or halted, which could have a material adverse effect on our business, financial condition and results of operations</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our business could be harmed from the loss or suspension of a license or imposition of a fine or penalties under, or future changes in, or changing interpretations of, the law or regulations of the Clinical Laboratory Improvement Act of 1967, the Clinical Laboratory Improvement Amendments of 1988, or the FDA or other federal, state or local agencies.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS will need to seek regulatory approval in order to market&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.&nbsp;The clinical laboratory testing industry is subject to extensive federal and state regulation, and many of these statutes and regulations have not been interpreted by the courts. The Clinical Laboratory Improvement Act of 1967 and the Clinical Laboratory Improvement Amendments of 1988 are federal regulatory standards that apply to virtually all clinical laboratories (regardless of the location, size or type of laboratory), including those operated by physicians in their offices, by requiring that they be certified under federal law. CLIA does not pre-empt state law, which in some cases may be more stringent than federal law and require additional personnel qualifications, quality control, record maintenance and proficiency testing. The sanction for failure to comply with CLIA and state requirements may be suspension, revocation or limitation of a laboratory&#146;s CLIA certificate, which is necessary to conduct business, as well as significant fines and/or criminal penalties. Several states have similar laws and we may be subject to similar penalties. The FDA regulates diagnostic products and periodically inspects and reviews their manufacturing processes and product performance. We may choose to seek FDA approval for one or more&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;tests, opposed to seeking CLIA certification.&nbsp;We cannot assure that applicable statutes and regulations will not be interpreted or applied by a prosecutorial, regulatory or judicial authority in a manner that would adversely affect our business. Potential sanctions for violation of these statutes and regulations include significant fines and the suspension or loss of various licenses, certificates and authorizations, which could have a material adverse effect on our business. In addition, compliance with future legislation could impose additional requirements on us, which may be costly, including FDA regulation of laboratory developed tests.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>11</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><a href=#TOC><font size=2 color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Health insurers and other third-party payers may decide not to reimburse our&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;diagnostic testing or may provide inadequate reimbursement, which could jeopardize our commercial prospects and require customers to pay for the tests out of pocket.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In the United States, the regulatory process that allows diagnostic tests to be marketed is independent of any coverage determinations made by third-party payers. For new diagnostic tests, private and government payers decide whether to cover the test, the reimbursement amount for a covered test and the specific conditions for reimbursement. Physicians may order diagnostic tests that are not reimbursed by third-party payers, but coverage determinations and reimbursement levels and conditions are critical to the commercial success of a diagnostic product. Each third-party payer makes its own decision about which tests it will cover and how much it will pay, although many payers will follow the lead of Medicare. As a result, the coverage determination process will be a time-consuming and costly process that requires us to provide scientific, clinical and economic support for the use of&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;diagnostic testing to each payer separately, with no assurance that approval will be obtained. If third-party payers decide not to cover&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;or if they offer inadequate payment amounts, our ability to generate revenue from&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;could be limited since patients who want to take the diagnostic tests would have to pay for it out of pocket. Even if one or more third-party payers decide to reimburse for&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;diagnostic testing, a third-party payer may stop or lower payment at any time, which could reduce revenue. We cannot predict whether third-party payers will cover&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;diagnostic testing&nbsp;or offer adequate reimbursement. We also cannot predict the timing of such decisions. In addition, physicians or patients may decide not to order&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;tests if third-party payments are inadequate, especially if ordering the test could result in financial liability for the patient.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Whether or not health insurers and other third-party payers decide to reimburse&nbsp;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font></i></b><b><i><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font></i></b><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, the technology may cost patients more than we anticipate.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We believe that our&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;diagnostic testing&nbsp;will significantly reduce the cost to patients of screening and confirmatory testing for certain types of cancer. If, however, the cost to utilize Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;is more expensive than we anticipate, many patients and third-party payers may elect not to utilize the technology which would significantly impact our ability to generate revenue from the technology.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We operate in a competitive market and expect to face intense competition, often from companies with greater resources and experience than us.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The clinical diagnostics industry is highly competitive and subject to rapid change. We are aware of many different types of diagnostic tests available to detect cancer that are currently in use or being developed and many more types of diagnostic tests may be developed in the future. If we are able to successfully commercialize&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>, all of these tests will compete with our product. If &nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp; is more expensive than and/or does not have sufficient specificity, sensitivity or predictive value to compete with tests that are currently on the market, or if any other diagnostic tests that are under development, once successfully developed and commercialized, have greater specificity, sensitivity or predictive value and/or are cheaper than our technology, we may be unable to compete successfully with such products which would have a material adverse effect on our business, financial condition and results of operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Furthermore, as the industry continues to expand and evolve, an increasing number of competitors and potential competitors may enter the market. Many of these competitors and potential competitors have substantially greater financial, technological, managerial and research and development resources and experience than we do. Some of these competitors and potential competitors have more experience than we do in the development of diagnostic products, including validation procedures and regulatory matters. In addition,&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;will compete with product offerings from large and well established companies that have greater marketing and sales experience and capabilities than we do. If we are unable to compete successfully, we may be unable to sustain and grow our revenue.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>12</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If we are unable to obtain and maintain intellectual property protection, our competitive position will be harmed.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our ability to compete and to achieve sustained profitability will be impacted by our ability to protect our&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;cancer diagnostic technologies and other&nbsp;proprietary discoveries and technologies. We expect to rely on a combination of patent protection, copyrights, trademarks, trade secrets, know-how, and regulatory approvals to protect&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;and any of our other technologies.&nbsp;Our intellectual property strategy is intended to help develop and maintain our competitive position. However, there is no assurance that we will be able to obtain patent protection for&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;and any other technologies, nor can we be certain that the steps we will have taken will prevent the misappropriation and unauthorized use of our technologies. If we are not able to obtain and maintain patent protection our competitive position may be harmed.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' lang=EN>Third parties may initiate legal proceedings alleging that we are infringing their intellectual property rights, the outcome of which would be uncertain and could have a material adverse effect on the success of our business.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' lang=EN>Our commercial success depends upon our ability to develop, manufacture, market and sell our&nbsp;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;cancer diagnostic technologies and other&nbsp;proprietary discoveries and technologies</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' lang=EN>&nbsp;without infringing, misappropriating or otherwise violating the proprietary rights or intellectual property of third parties. We may become party to, or be threatened with, future adversarial proceedings or litigation regarding intellectual property rights with respect to our&nbsp;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;cancer diagnostic technologies and other&nbsp;proprietary discoveries and technologies</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' lang=EN>. Third parties may assert infringement claims against us based on existing patents or patents that may be granted in the future. If we are found to infringe a third-party's intellectual property rights, we could be required to obtain a license from such third-party to continue developing our&nbsp;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;cancer diagnostic technologies and other&nbsp;proprietary discoveries and technologies</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black' lang=EN>. However, we may not be able to obtain any required license on commercially reasonable terms or at all. Even if we were able to obtain a license, it could be non-exclusive, thereby giving our competitors access to the same technologies licensed to us. We could be forced, including by court order, to cease developing the infringing technology or product. In addition, we could be found liable for monetary damages. Claims that we have misappropriated the confidential information or trade secrets of third parties can have a similar negative impact on our business.</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We are dependent upon a few key personnel and the loss of their services could adversely affect us.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our future success of developing&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;will depend on the efforts of our Executive Chairman of the Board Dr. Amit Kumar. We do not maintain &#147;key person&#148; life insurance on Dr. Kumar. The loss of the services of Dr. Kumar could have a material adverse effect on our business and operating results.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><u><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Risks Related to Legacy Patent Licensing Activities</font></u></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In connection with our legacy patent licensing activities, we may not be able to license our patent portfolios which may have an adverse impact on our future operations.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in' align=justify><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We may generate revenues and related cash flows from the licensing and enforcement of patents that we currently own, from technologies that we develop and from the rights to license and enforce additional patents we have obtained, and may obtain in the future, from third parties.&nbsp; However, we can give no assurances that we will be able to identify opportunities to exploit such patents or that such opportunities, even if identified, will generate sufficient revenues to sustain future operations.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We, in certain circumstances, rely on representations, warranties and opinions made by third parties that, if determined to be false or inaccurate, may expose us to certain material liabilities.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in' align=justify><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>From time to time, we may rely upon the opinions of purported experts.&nbsp;&nbsp;In certain instances, we may not have the opportunity to independently investigate and verify the facts upon which such opinions are made. By relying on these opinions, we may be exposed to liabilities in connection with the licensing and enforcement of certain patents and patent rights which could have a material adverse effect on our operating results and financial condition.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>13</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In connection with patent licensing activities conducted by certain of our subsidiaries, a court that has ruled unfavorably against us may also impose sanctions or award attorney&#146;s fees, exposing us and our operating subsidiaries to certain material liabilities.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In connection with any of our patent licensing activities, it is possible that a court that has ruled against us may also impose sanctions or award attorney&#146;s fees to defendants, exposing us or our operating subsidiaries to material liabilities, which could materially harm our operating results and our financial condition.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our patented technologies have an uncertain market value.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Many of our patents and technologies are in the early stages of adoption in the commercial and consumer markets. Demand for some of these technologies is untested and is subject to fluctuation based upon the rate at which our licensees will adopt our patents and technologies in their products and services.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><u><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Risks Related to Our Common Stock</font></u></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The issuance or sale of shares in the future to raise money or for strategic purposes could reduce the market price of our common stock.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In the future, we may issue securities to raise cash for operations, to pay down existing or then existing indebtedness, as consideration for the acquisition of assets (as we did with Meetrix), to pay for the development of our&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;platform and for acquisitions of companies. We have and in the future may issue securities convertible into our common stock. Any of these events may dilute stockholders' ownership interests in our company and have an adverse impact on the price of our common stock.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In addition, sales of a substantial amount of our common stock in the public market, or the perception that these sales may occur, could reduce the market price of our common stock. This could also impair our ability to raise additional capital through the sale of our securities.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Any actual or anticipated sales of shares by our stockholders may cause the trading price of our common stock to decline.&nbsp;The sale of a substantial number of shares of our common stock by our stockholders, or anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect sales.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Delaware law and our charter documents contain provisions that could discourage or prevent a potential takeover of our company that might otherwise result in our stockholders receiving a premium over the market price of their shares.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Provisions of Delaware General Corporation Law (&#147;DGCL&#148;) and our certificate of incorporation, as amended (the &#147;Certificate of Incorporation&#148;) and by-laws (&#147;By-Laws&#148;) could make the acquisition of our company by means of a tender offer, proxy contest or otherwise, and the removal of incumbent officers and directors, more difficult. These provisions include:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <ul type=disc style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Section 203 of the DGCL, which prohibits a merger with a 15%-or-greater stockholder, such as a party that has completed a successful tender offer, until three years after that party became a 15%-or-greater stockholder;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>The authorization in our Certificate of Incorporation of undesignated preferred stock, which could be issued without stockholder approval in a manner designed to prevent or discourage a takeover; and</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Provisions in our By-Laws regarding stockholders' rights to call a special meeting of stockholders limit such rights to stockholders holding together at least a majority of shares of the Company entitled to vote at the meeting, which could make it more difficult for stockholders to wage a proxy contest for control of our Board of Directors or to vote to repeal any of the anti-takeover provisions contained in our Certificate of Incorporation and By-Laws.</font> </li></ul> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Together, these provisions may make the removal of management more difficult and may discourage transactions that could otherwise involve payment of a premium over prevailing market prices for our common stock.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>14</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We may fail to meet market expectations because of fluctuations in quarterly operating results, which could cause the price of our common stock to decline.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our reported revenues and operating results have fluctuated in the past and may continue to fluctuate significantly from quarter to quarter in the future, specifically as we continue to devote more of our resources towards our&nbsp;Cchek</font><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#212;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;diagnostic technology. It is likely that in future periods, we will have no revenue or, in any event, revenues could fall below the expectations of securities analysts or investors, which could cause the market price of our common stock to decline. The following are among the factors that could cause our operating results to fluctuate significantly from period to period:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <ul type=disc style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>clinical trial results relating to our diagnostic technology;&nbsp;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>progress with regulatory authorities towards the certification/approval of our diagnostic technology;</font> <li style="MARGIN-BOTTOM:0pt; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>costs related to acquisitions, alliances and licenses.</font> </li></ul> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Biotechnology company stock prices are especially volatile, and this volatility may depress the price of our common stock.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The stock market has experienced significant price and volume fluctuations, and the market prices of biotechnology companies have been highly volatile. We believe that various factors may cause the market price of our common stock to fluctuate, perhaps substantially, including, among others, the following:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <ul type=disc style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>announcements of developments in the cancer diagnostic testing industry;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>developments in relationships with third party vendors and laboratories;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>announcements of developments in our remaining patent enforcement actions;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>developments or disputes concerning our patents and other intellectual property;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>our or our competitors' technological innovations;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>variations in our quarterly operating results;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>our failure to meet or exceed securities analysts' expectations of our financial results;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>a change in financial estimates or securities analysts' recommendations;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>changes in management's or securities analysts' estimates of our financial performance;</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>announcements by us or our competitors of significant contracts, acquisitions, strategic partnerships, joint ventures, capital commitments, new technologies, or patents; and</font> <li style="MARGIN-BOTTOM:0pt; BACKGROUND:white; COLOR:black; TEXT-ALIGN:justify; LINE-HEIGHT:normal; TEXT-AUTOSPACE:"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>the timing of or our failure to complete significant transactions.</font> </li></ul> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In addition, we believe that fluctuations in our stock price during applicable periods can also be impacted by changes in governmental regulations in the diagnostic testing industry and/or court rulings and/or other developments in our remaining patent licensing and enforcement actions. For example, if government regulators no longer allow for the use of diagnostic technology that has not been granted FDA approval (e.g. denying products that have only received CLIA certification), the time and cost to bring our technology to market will increase which will likely have an adverse impact on our stock price.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In the past, companies that have experienced volatility in the market price of their stock have been the objects of securities class action litigation. If our common stock was the object of securities class action litigation, it could result in substantial costs and a diversion of management's attention and resources, which could materially harm our business and financial results.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>15</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our common stock is currently listed on NASDAQ Capital Market, however if our common stock is delisted for any reason, it will become subject to the SEC&#146;s penny stock rules which may make our shares more difficult to sell.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If our common stock is delisted from NASDAQ Capital Market, our common stock will then fit the definition of a penny stock and therefore would be subject to the rules adopted by the SEC regulating broker-dealer practices in connection with transactions in penny stocks.&nbsp; The SEC rules may have the effect of reducing trading activity in our common stock making it more difficult for investors to sell their shares.&nbsp; The SEC&#146;s rules require a broker or dealer proposing to effect a transaction in a penny stock to deliver the customer a risk disclosure document that provides certain information prescribed by the SEC, including, but not limited to, the nature and level of risks in the penny stock market.&nbsp; The broker or dealer must also disclose the aggregate amount of any compensation received or receivable by him in connection with such transaction prior to consummating the transaction.&nbsp; In addition, the SEC&#146;s rules also require a broker or dealer to make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser&#146;s written agreement to the transaction before completion of the transaction.&nbsp; The existence of the SEC&#146;s rules may result in a lower trading volume of our common stock and lower trading prices.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We do not anticipate declaring any cash dividends on our common stock which may adversely impact the market price of our stock.</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have never declared or paid cash dividends on our common stock and do not plan to pay any cash dividends in the near future. Our current policy is to retain all funds and any earnings for use in the operation and expansion of our business. If we do not pay dividends, our stock may be less valuable to you because a return on your investment will only occur if our stock price appreciates.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'><b><i><font style="FONT-SIZE:10pt; COLOR:black">We are registering an aggregate of 1,487,606 shares of common stock and the sale of such shares could depress the market price of our common stock.</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; COLOR:black">We are registering an aggregate of </font><font style=FONT-SIZE:10pt>1,487,606 <font style=COLOR:black>shares of common stock under this registration statement of which this prospectus forms a part for issuance. Notwithstanding ownership limitations of the selling stockholders, the </font>1,487,606 <font style=COLOR:black>shares represent approximately 14.6% of our shares of common stock outstanding immediately after the exercise of the Warrants by Adaptive Capital. If the selling stockholders sell all of their shares, the sale of such shares could depress the market price of our common stock.</font></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">16</font></p> <div style="BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt" align=center> </div><hr style=PAGE-BREAK-AFTER:always> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=UOP>USE OF PROCEEDS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We will not receive any proceeds from the sale of shares by the selling stockholders.</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;<font style=COLOR:black>However, we may receive proceeds from the sale of securities upon the exercise of the Warrants (to the extent the registration statement of which this prospectus is a part is then effective and, if applicable, the &#147;cashless exercise&#148; provision is not utilized by the holder). Any net proceeds we receive will be used for general corporate and working capital or other purposes that the Board of Directors deems to be in the best interest of the Company.&nbsp; As of the date of this prospectus, we cannot specify with certainty the particular uses for the net proceeds we may receive.&nbsp; Accordingly, we will retain broad discretion over the use of these proceeds, if any.&nbsp;</font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=DOP>DETERMINATION OF OFFERING PRICE</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The selling stockholders will offer common stock at the prevailing market prices or privately negotiated price as they may determine from time to time.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The offering price of our common stock to be sold by the selling stockholders does not necessarily bear any relationship to our book value, assets, past operating results, financial condition or any other established criteria of value. The facts considered in determining the offering price were our financial condition and prospects, our limited operating history and the general condition of the securities market.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, there is no assurance that our common stock will trade at market prices in excess of the offering price as prices for common stock in any public market will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>17</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=SS>SELLING STOCKHOLDERS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The following table sets forth certain information as of March 30, 2017 regarding the selling stockholders and the shares offered by&nbsp;them&nbsp;in this prospectus. In computing the number of shares owned by a person and the percentage ownership of that person in the table below, securities that are currently convertible or exercisable into shares of our common stock that are being offered in this prospectus are deemed outstanding. Such shares, however, are not deemed outstanding for the purposes of computing the percentage ownership of any other person. Except as indicated in the footnotes to the following table, each stockholder named in the table has sole voting and investment power with respect to the shares set forth opposite such stockholder&#146;s name. The percentage of ownership of each selling stockholder&nbsp;in the following table is based upon 9,705,656 shares of common stock outstanding as of March 30, 2017 plus shares the selling stockholders will receive upon exercise of warrants or conversion of debt which are being offered in this offering.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Except as set forth below, no selling stockholder has held a position as an officer or director of the Company, nor has any material relationship of any kind with us or any of our affiliates. All information with respect to share ownership has been furnished by the selling stockholders. The common stock being offered is being registered to permit secondary trading of the shares and the selling stockholders may offer all or part of the common stock owned for resale from time to time.&nbsp; Except as set forth below, none of the selling stockholders have any family relationships with our officers, directors or controlling stockholders. Furthermore, none of the selling stockholders are a registered broker-dealer or an affiliate of a registered broker-dealer.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The term &#147;selling stockholder&#148; also includes any transferees, pledges, donees, or other successors in interest to the selling stockholder named in the table below. To our knowledge, subject to applicable community property laws, each person named in the table has sole voting and investment power with respect to the common stock set forth opposite such person&#146;s name. We will file a supplement to this prospectus (or a post-effective amendment hereto, if necessary) to name successors to any named selling stockholder who is able to use this prospectus to resell the securities registered hereby. </font></p> <table width=800 bordercolor=transparent style="WIDTH:600pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=32% nowrap style="HEIGHT:15pt; WIDTH:32%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="HEIGHT:15pt; WIDTH:15.04%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=5 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Maximum Number of </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares of Common </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Stock to be Sold </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Pursuant</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>to this Prospectus</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=5 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Number of Shares of </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common Stock Owned</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>After Offering </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Assuming All</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares are Sold (3)</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=5 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Percentage &nbsp;of </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common Stock Owned</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>After Offering </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Assuming All</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Shares are Sold (3)</font></b></p></td></tr> <tr style=HEIGHT:15pt> <td width=32% nowrap style="HEIGHT:15pt; WIDTH:32%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15.04%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Number of Shares of </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common Stock </font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Owned&nbsp;</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Prior to Offering</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=32% nowrap style="HEIGHT:15pt; WIDTH:32%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=32% nowrap style="HEIGHT:15pt; WIDTH:32%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=32% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:32%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Name of Selling Stockholder</font></b></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=32% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:32%; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Meetrix Communications Inc. (1)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15.04%; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>987,606</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p></td> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>987,606</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p></td> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p></td> <td width=15% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:15%; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>*</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=32% nowrap style="HEIGHT:15pt; WIDTH:32%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Adaptive Capital (2)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="HEIGHT:15pt; WIDTH:15.04%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>600,800</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="HEIGHT:15pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>500,000</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="HEIGHT:15pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>100,800</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=15% nowrap style="HEIGHT:15pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>*</font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>__________________________</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>* Less than 1%</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1.<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Consists of the Meetrix Shares and the 947,606 shares of common stock that have been issued to Meetrix in connection with the Patent Acquisition Agreement.&nbsp;&nbsp;Jebb Dykstra&nbsp;exercises the voting and investment control for Meetrix.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>2.<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>Consists of 100,800 shares of common stock and 500,000 shares of common stock issuable upon exercise of the Warrant. We have currently registered for resale the 100,800 on a separate registration statement that was already declared effective by the SEC. Tahoe Pacific Corp. exercises the voting and investment control for Adaptive Capital pursuant to an asset management agreement. James Brown, the President of Tahoe Pacific Corp., exercises voting and investment control for Tahoe Pacific Corp.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.25in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>3.<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Assumes the sale of all shares offered pursuant to this prospectus.</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</font></p> <p 0in 10pt; text-align: line-height: center; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" 105%? align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>18</font><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'> <hr style=PAGE-BREAK-AFTER:always> </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=POD>PLAN OF DISTRIBUTION</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Selling Stockholders</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The common stock held by the selling stockholders may be sold or distributed from time to time by the selling stockholders directly to one or more purchasers or through brokers, dealers, or underwriters who may act solely as agents at market prices prevailing at the time of sale, at prices related to the prevailing market prices, at negotiated prices, or at fixed prices, which may be changed on any stock exchange, market or trading facility on which the shares are traded or in private transactions. The sale of the selling stockholders&#146; common stock offered by this prospectus may be effected in one or more of the following methods:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;transactions involving cross or block trades;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchases by a broker-dealer as principal and resale by the broker-dealer for its account;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an exchange distribution in accordance with the rules of the applicable exchange;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in privately negotiated transactions;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;short sales after the registration statement, of which this prospectus forms a part, becomes effective;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;at the market&#148; into an existing market for the common stock;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;through the writing of options on the shares;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a combination of any such methods of sale; and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; FONT-FAMILY:Symbol; COLOR:black">&#183;</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any other method permitted pursuant to applicable law.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>In order to comply with the securities laws of certain states, if applicable, the shares of each of the selling stockholders may be sold only through registered or licensed brokers or dealers. In addition, in certain states, such shares may not be sold unless they have been registered or qualified for sale in the state or an exemption from the registration or qualification requirement is available and complied with.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Meetrix and Adaptive Capital may also sell shares of common stock under Rule 144 promulgated under the Securities Act, if available, rather than under this prospectus. In addition, Meetrix and Adaptive Capital may transfer the shares of common stock by other means not described in this prospectus.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The selling stockholders may also sell the shares directly to market makers acting as principals and/or broker-dealers acting as agents for themselves or their customers. Such broker-dealers may receive compensation in the form of discounts, concessions or commissions from the selling stockholders and/or the purchasers of shares for whom such broker-dealers may act as agents or to whom they sell as principal or both, which compensation as to a particular broker-dealer might be in excess of customary commissions. Market makers and block purchasers purchasing the shares will do so for their own account and at their own risk. It is possible that a selling stockholder will attempt to sell shares of common stock in block transactions to market makers or other purchasers at a price per share which may be below the then market price. The selling stockholders cannot assure that all or any of the shares offered in this prospectus will be issued to, or sold by, such selling stockholder.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Brokers, dealers, underwriters, or agents participating in the distribution of the shares held by the selling stockholders as agents may receive compensation in the form of commissions, discounts, or concessions from the selling stockholders and/or purchasers of the common stock for whom the broker-dealers may act as agent.&nbsp; The selling stockholders may agree to indemnify any agent, dealer or broker-dealer that participates in transactions involving sales of the shares if liabilities are imposed on that person under the Securities Act.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>19</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Each of the selling stockholders acquired the securities offered hereby in the ordinary course of business and has advised us that they have not entered into any agreements, understandings or arrangements with any underwriters or broker-dealers regarding the&nbsp;sale of their shares of common stock, nor is there an underwriter or coordinating broker acting in connection with a proposed sale of shares of common stock by any selling stockholder. If we are notified by any selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of shares of common stock, if required, we will file a supplement to this prospectus.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>With regard only to the shares it sells for its own behalf, Meetrix may be deemed an &#147;underwriter&#148; within the meaning of the Securities Act.&nbsp; This offering as it relates to Meetrix will terminate on the date that all shares issued to and issuable to Meetrix that are offered by this prospectus have been sold by Meetrix.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>With regard only to the shares it sells for its own behalf, Adaptive Capital may be deemed an &#147;underwriter&#148; within the meaning of the Securities Act.&nbsp; This offering as it relates to Adaptive Capital will terminate on the date that all shares issued to and issuable to Adaptive Capital that are offered by this prospectus have been sold by Adaptive Capital.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We may suspend the sale of shares by the selling stockholders pursuant to this prospectus for certain periods of time for certain reasons, including if the prospectus is required to be supplemented or amended to include additional material information.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>If any of the selling stockholders use this prospectus for any sale of the shares of common stock, such selling stockholder will be subject to the prospectus delivery requirements of the Securities Act.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><b><i><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Regulation M</font></i></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The anti-manipulation rules of Regulation M under the Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) may apply to sales of our common stock and activities of the selling stockholder.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We have advised the selling stockholders that while it is engaged in a distribution of the shares included in this prospectus it is required to comply with Regulation M promulgated under the Exchange Act. With certain exceptions, Regulation M precludes the selling stockholder, any affiliated purchasers, and any broker-dealer or other person who participates in the distribution from bidding for or purchasing, or attempting to induce any person to bid for or purchase any security which is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of the foregoing may affect the marketability of the shares offered hereby this prospectus.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>20</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=DOSR>DESCRIPTION OF SECURITIES&nbsp;TO BE REGISTERED</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">General</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:36.7pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:27.5pt'><font style="FONT-SIZE:10pt; COLOR:black">Our authorized share capital consists of 24,000,000 shares of common stock, $0.01 par value per share, of which 9,705,656 shares of common stock are issued and outstanding as of March 30, 2017 and 20,000 shares of preferred stock, $0.01 par value per share, of which 140 shares have been designated as Series A Convertible Preferred Stock, all of which have been redeemed and are no longer issued and outstanding. We are a Delaware corporation and our affairs are governed by our Certificate of Incorporation and By-laws. The following are summaries of material provisions of our Certificate of Incorporation and By-laws insofar as they relate to the material terms of our common shares. Complete copies of our Certificate of Incorporation and By-laws are filed as exhibits to our public filings.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black"><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </strong><em>Common Stock</em></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our common stock is listed on the Nasdaq Capital Market under the symbol &#147;ITUS&#148;.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All outstanding shares of common stock are of the same class and have equal rights and attributes. The holders of common stock are entitled to one vote per share on all matters submitted to a vote of stockholders of the Company. All stockholders are entitled to share equally in dividends, if any, as may be declared from time to time by the Board of Directors out of funds legally available. In the event of liquidation, the holders of common stock are entitled to share ratably in all assets remaining after payment of all liabilities. The stockholders do not have cumulative or preemptive rights.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Dividend Rights</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holders of the common stock may receive dividends when, as and if declared by our Board of Directors out of the assets legally available for that purpose and subject to the preferential dividend rights of any other classes or series of stock of our Company.&nbsp; We have never paid, and have no plans to pay, any dividends on our shares of common stock.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Voting Rights</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holders of the common stock are entitled to one vote per share in all matters as to which holders of common stock are entitled to vote. Holders of not less than a majority of the outstanding shares of common stock entitled to vote at any meeting of stockholders constitute a quorum unless otherwise required by law.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Election of Directors</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directors hold office until the next annual meeting of stockholders and are eligible for reelection at such meeting. Directors are elected by a plurality of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors. There is no cumulative voting for directors.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Liquidation&nbsp;&nbsp;</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event of any liquidation, dissolution or winding up of the Company, holders of the common stock have the right to receive ratably and equally all of the assets remaining after payment of liabilities and liquidation preferences of any preferred stock then outstanding.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Redemption&nbsp;&nbsp;</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The common stock is not redeemable or convertible and does not have any sinking fund provisions.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><b><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><i><font style="FONT-SIZE:10pt; COLOR:black">Preemptive Rights</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holders of the common stock do not have preemptive rights.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:27.5pt'><i><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp; Other Rights</font></i></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'><i><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></i><font style="FONT-SIZE:10pt; COLOR:black">Our common stock is not liable to calls or to assessment by the registrant and for liabilities of the registrant imposed on its stockholders under state statutes.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>21</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=Experts>EXPERTS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.35pt' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The consolidated financial statements of ITUS Corporation and subsidiaries as of October 31, 2016 and 2015, and for each of the years ended October 31, 2016 and 2015, have been incorporated by reference to our Annual Report on Form 10-K for the year ended October, 31, 2016 in this registration statement in reliance upon the report of Haskell &amp; White LLP, independent registered public accounting firm, and upon the authority of said firm as experts in accounting and auditing. The report of Haskell &amp; White LLP includes an explanatory paragraph expressing substantial doubt regarding the Company&#146;s ability to continue as a going concern as described in Note 1 to the Company&#146;s consolidated financial statements.&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.35pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=LM>LEGAL MATTERS</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.35pt' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>The validity of the common stock being issued pursuant to this registration statement have been passed upon for us by Ellenoff Grossman &amp; Schole LLP located at 1345 Avenue of the Americas, New York, NY 10105</font><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>.&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.35pt' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'><a name=WYCFAI>WHERE YOU CAN FIND ADDITIONAL INFORMATION</a></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.35pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; BACKGROUND:white; COLOR:black">We file annual, quarter and periodic reports, proxy statements and other information with the Securities and Exchange Commission using the Commission&#146;s EDGAR system. You may inspect these documents and copy information from them at the Commission&#146;s offices at public reference room at 100 F Street, NE, Washington, D.C. 20549. You may obtain information on the operation of the public reference room by calling the SEC at 1-800-SEC-0330. The Commission maintains a web site that contains reports, proxy and information statements and other information regarding registrants that file electronically with the Commission. The address of such site is http//www.sec.gov.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; BACKGROUND:white; COLOR:black">We have filed a registration statement with the Commission relating to the offering of the shares. The registration statement contains information which is not included in this prospectus. You may inspect or copy the registration statement at the Commission&#146;s public reference facilities or its website.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; BACKGROUND:white; COLOR:black">You should rely only on the information contained in this prospectus. We have not authorized any person to provide you with any information that is different.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b><font style="FONT-SIZE:10pt; COLOR:black"><a name=IDRef>INCORPORATION OF DOCUMENTS BY REFERENCE</a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>We are &#147;incorporating by reference&#148; certain documents we file with the SEC, which means that we can disclose important information to you by referring you to those documents. The information in the documents incorporated by reference is considered to be part of this prospectus supplement. Statements contained in documents that we file with the SEC and that are incorporated by reference in this prospectus supplement will automatically update and supersede information contained in this prospectus supplement, including information in previously filed documents or reports that have been incorporated by reference in this prospectus supplement, to the extent the new information differs from or is inconsistent with the old information. We have filed or may file the following documents with the SEC and they are incorporated herein by reference as of their respective dates of filing:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'><br> <table bordercolor=transparent cellspacing=0> <tr> <td>&nbsp;&nbsp;&nbsp;&nbsp;</td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; PADDING-LEFT:0px; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></p></td> <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td> <td> <p 0in normal? text-align: 0pt; line-height: margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" justify;><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our Annual Report on Form 10-K for the year ended October 31, 2016, filed with the SEC on December 7, 2016, and as amended on December 8, 2016;</font></p></td></tr> <tr> <td>&nbsp;&nbsp;&nbsp;&nbsp;</td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; PADDING-LEFT:0px; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></p></td> <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </td> <td> <p 0in normal? text-align: 0pt; line-height: margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" justify;><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our Quarterly Report on Form 10-Q for the quarter ended January 31, 2017, filed with the SEC on March 16, 2017;</font></p></td></tr> <tr> <td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; PADDING-LEFT:0px; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></p></td> <td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Our Current Reports on Form 8-K filed with the SEC on December 7, 2016, January 19, 2017, February 14, 2017 and March 8, 2017; and</font></p></td></tr> <tr> <td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; PADDING-LEFT:0px; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&#149;</font></p></td> <td> <td> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The description of our common stock contained in our Current Report on Form 8-K filed on March 31, 2014 and as it may further be amended from time to time.</font></p></td></tr></table></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>All documents that we filed with the SEC pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act subsequent to the date of this registration statement and prior to the filing of a post-effective amendment to this registration statement that indicates that all securities offered under this prospectus supplement have been sold, or that deregisters all securities then remaining unsold, will be deemed to be incorporated in this registration statement by reference and to be a part hereof from the date of filing of such documents.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Any statement contained in a document incorporated or deemed to be incorporated by reference in this prospectus supplement shall be deemed modified, superseded or replaced for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement, or in any subsequently filed document that also is deemed to be incorporated by reference in this prospectus supplement, modifies, supersedes or replaces such statement. Any statement so modified, superseded or replaced shall not be deemed, except as so modified, superseded or replaced, to constitute a part of this prospectus supplement. None of the information that we disclose under Items 2.02 or 7.01 of any Current Report on Form 8-K or any corresponding information, either furnished under Item 9.01 or included as an exhibit therein, that we may from time to time furnish to the SEC will be incorporated by reference into, or otherwise included in, this prospectus supplement, except as otherwise expressly set forth in the relevant document. Subject to the foregoing, all information appearing in this prospectus supplement is qualified in its entirety by the information appearing in the documents incorporated by reference.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>We will promptly provide, without charge to each person (including any beneficial owners) who receives a copy of this prospectus, upon written or oral request, a copy of any or all of the documents incorporated by reference in this prospectus supplement. <font style=COLOR:black>You may request, orally or in writing, a copy of these documents, by contacting Robert A. Berman, President and Chief Executive Officer of ITUS Corporation, at 12100 Wilshire Boulevard, Suite 1275, Los Angeles, CA 90025. Our telephone number is (310) 484-5200. Information about us is also available at our website at <u>http://www.ITUScorp.com</u>. However, the information on our website is not a part of this prospectus supplement or the accompanying prospectus and is not incorporated by reference.</font></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b><font style="FONT-SIZE:10pt; COLOR:black"><a name=DisclosureOfComm>DISCLOSURE OF COMMISSION POSITION ON</a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b><font style="FONT-SIZE:10pt; BACKGROUND:white; COLOR:black">INDEMNIFICATION FOR SECURITIES LAW VIOLATIONS</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; COLOR:black">Our directors and officers are indemnified to the fullest extent permitted under Delaware law. We may also purchase and maintain insurance which protects our officers and directors against any liabilities incurred in connection with their service in such a capacity, and such a policy may be obtained by us in the future.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:27.35pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'><font style="FONT-SIZE:10pt; COLOR:black">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by us of expenses incurred or paid by a director, officer or controlling person of ours in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>23</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</font><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>You should rely only on the information contained in this document. We have not authorized anyone to provide you with information that is different. This document may only be used where it is legal to sell these securities. The information in this document may only be accurate on the date of this document.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Additional risks and uncertainties not presently known or that are currently deemed immaterial may also impair our business operations. The risks and uncertainties described in this document and other risks and uncertainties which we may face in the future will have a greater impact on those who purchase our common stock. These purchasers will purchase our common stock at the market price or at a privately negotiated price and will run the risk of losing their entire investment.</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS CORPORATION</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>1,487,606 <font style=COLOR:black>Shares of</font></font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Common Stock</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>PROSPECTUS</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:1.1pt 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 173.8pt 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2017</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 173.8pt 11pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>24</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>PART II</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>INFORMATION NOT REQUIRED IN PROSPECTUS</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITEM 14. &nbsp;OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The Company is paying all expenses of the offering. No portion of these expenses will be borne by the selling security holder. The selling security holder, however, will pay any other expenses incurred in selling its common stock, including any brokerage commissions or costs of sale.&nbsp; Following is an itemized statement of all expenses in connection with the issuance and distribution of the securities to be registered.&nbsp; All of the amounts shown are estimates, except for the SEC Registration Fees.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>SEC Registration Fee</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>859.16</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accounting Fees and Expenses</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>6,000.00</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Legal Fees and Expenses</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style=FONT-SIZE:10pt>25,000.00</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=86% nowrap style="HEIGHT:15.75pt; WIDTH:86%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Total</font></b></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>$</strong></font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" align=right valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:right; PADDING-LEFT:0px; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=right><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong>31,859.16</strong></font></p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITEM 15.&nbsp; INDEMNIFICATION OF OFFICERS AND DIRECTORS</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Under Section 145 of the DGCL, a corporation may indemnify its directors, officers, employees and agents and its former directors, officers, employees and agents and those who serve, at the corporation's request, in such capacities with another enterprise, against expenses (including attorney's fees), as well as judgments, fines and settlements, actually and reasonably incurred in connection with the defense of any action, suit or proceeding (other than an action by or in the right of the corporation) in which they or any of them were or are made parties or are threatened to be made parties by reason of their serving or having served in such capacity. The DGCL provides, however, that such person must have acted in good faith and in a manner he or she reasonably believed to be in (or not opposed to) the best interests of the corporation and, in the case of a criminal action, such person must have had no reasonable cause to believe his or her conduct was unlawful. In addition, the DGCL does not permit indemnification in an action or suit by or in the right of the corporation, where such person has been adjudged liable to the corporation for negligence or misconduct in the performance of his/her duty to the corporation, unless, and only to the extent that, a court determines that such person fairly and reasonably is entitled to indemnity for costs the court deems proper in light of liability adjudication. Indemnity is mandatory to the extent a claim, issue or matter has been successfully defended.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Section 102(b)(7) of the DGCL permits a corporation to include in its certificate of incorporation a provision eliminating or limiting the personal liability of a director to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director, provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;under Section 174 of the DGCL (relating to unlawful payment of dividends and unlawful stock purchase or redemption) or (iv) for any transaction from which the director derived an improper personal benefit.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Article XIII of the By-Laws of the Company contains provisions which are designed to provide mandatory indemnification of directors and officers of the Company to the full extent permitted by law, as now in effect or later amended. The By-Laws further provide that, if and to the extent required by the DGCL, an advance payment of expenses to a director or officer of the Company that is entitled to indemnification will only be made upon delivery to the Company of an undertaking, by or on behalf of the director or officer, to repay all amounts so advanced if it is ultimately determined that such director is not entitled to indemnification.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 13.2pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>25</font><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt 0in; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt 0in; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt 0in; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITEM 16. &nbsp;EXHIBITS AND FINANCIAL STATEMENT SCHEDULES</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt 0in; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The following exhibits are filed with this registration statement.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 27.5pt 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <table width=733 bordercolor=transparent style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.1</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Certificate of Incorporation, as amended.&nbsp; (Incorporated by reference to Form 10-Q for the fiscal quarter ended July 31, 1992 and Form S-3, dated February 11, 2014.)</font></p></td></tr> <tr style=HEIGHT:6.75pt> <td width=7% style="HEIGHT:6.75pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.2</font></p></td> <td width=92% style="HEIGHT:6.75pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment to the Certificate of Incorporation. (Incorporated by reference to Form 10-K for the fiscal year ended October 31, 2013.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.3</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Certificate of Amendment to the Certificate of Incorporation. (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated September 4, 2014.)</font></p></td></tr> <tr style=HEIGHT:9.9pt> <td width=7% style="HEIGHT:9.9pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.4</font></p></td> <td width=92% style="HEIGHT:9.9pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock. (Incorporated by reference to Exhibit 3.1 of our Form 8-K, dated September 10, 2014.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.5</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amended and Restated By-laws. (Incorporated by reference to Exhibit 3.1 to our Form 8-K dated, November 8, 2012.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3.6</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Certificate of Amendment to the Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated June 25, 2015.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>4.1</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Form of Warrant issued to investors in connection with the Company&#146;s registered direct offering. (Incorporated by reference to Exhibit 4.1 to Form 8-K, dated July 15, 2014).</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>4.2</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Form of Warrant to be issued to Adaptive Capital LLC (Incorporated by reference to Exhibit 4.2 to our Form 10-K for the fiscal year ended October 31, 2016).</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>5.1</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; COLOR:black'>Opinion of Ellenoff Grossman &amp; Schole LLP (Filed herewith)</font></p></td></tr> <tr style=HEIGHT:10.35pt> <td width=7% style="HEIGHT:10.35pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:10.35pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.1</font></p></td> <td width=92% style="HEIGHT:10.35pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:10.35pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4 to our Form S-8 dated May 5, 2003.)</font></p></td></tr> <tr style=HEIGHT:12.15pt> <td width=7% style="HEIGHT:12.15pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.2</font></p></td> <td width=92% style="HEIGHT:12.15pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 1 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(e) to our Form S-8 dated November 9, 2004.)</font></p></td></tr> <tr style=HEIGHT:7.65pt> <td width=7% style="HEIGHT:7.65pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.3</font></p></td> <td width=92% style="HEIGHT:7.65pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 2 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</font></p></td></tr> <tr style=HEIGHT:11.25pt> <td width=7% style="HEIGHT:11.25pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:11.25pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.4</font></p></td> <td width=92% style="HEIGHT:11.25pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:11.25pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 3 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.2 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</font></p></td></tr> <tr style=HEIGHT:5.85pt> <td width=7% style="HEIGHT:5.85pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.5</font></p></td> <td width=92% style="HEIGHT:5.85pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 4 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated September 21, 2007.)</font></p></td></tr> <tr style=HEIGHT:10.35pt> <td width=7% style="HEIGHT:10.35pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:10.35pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.6</font></p></td> <td width=92% style="HEIGHT:10.35pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:10.35pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 5 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated January 21, 2009.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.7</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 6 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.5 to our Form 8-K, dated July 20, 2010.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.8</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 20, 2010.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.9</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 1 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 7, 2011.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.10</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 2 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated September 5, 2012.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.11</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Amendment No. 3 to the 2010 Share Incentive Plan (Incorporated by reference to Exhibit 10.1 to our Form 10-Q for the fiscal quarter ended January 31, 2014.)</font></p></td></tr> <tr style=HEIGHT:16.65pt> <td width=7% style="HEIGHT:16.65pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.12</font></p></td> <td width=92% style="HEIGHT:16.65pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Employment Agreement, dated as of September 19, 2012, between the Company and Robert Berman. (Incorporated by reference to Exhibit 10.35 to our Form 10-K for the fiscal year ended October 31, 2012.)&nbsp; (Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</font></p></td></tr> <tr style=HEIGHT:22.5pt> <td width=7% style="HEIGHT:22.5pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.13</font></p></td> <td width=92% style="HEIGHT:22.5pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Consulting Agreement, dated as of September 19, 2012, between the Company and Amit Kumar.&nbsp; (Incorporated by reference to Exhibit 10.37 to our Form 10-K for the fiscal year ended October 31, 2012.)&nbsp; (Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</font></p></td></tr> <tr style=HEIGHT:0.25in> <td width=7% style="HEIGHT:0.25in; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.14</font></p></td> <td width=92% style="HEIGHT:0.25in; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Securities Purchase Agreement, dated July 15, 2014, between the Company and the Purchasers named therein in connection with the Company&#146;s registered direct offering. (Incorporated by reference to Exhibit 10.1 to Form 8-K, dated July 15, 2014.)</font></p></td></tr> <tr style=HEIGHT:11.25pt> <td width=7% style="HEIGHT:11.25pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:11.25pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.15</font></p></td> <td width=92% style="HEIGHT:11.25pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:11.25pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Termination Agreements, each dated August 29, 2014, relating to the Company&#146;s transaction with Videocon Industries Limited. (Incorporated by reference to Exhibit 10.20 to our Form S-1 dated December 8, 2014.)</font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'>26</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <table width=733 bordercolor=transparent style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:13.05pt> <td width=7% style="HEIGHT:13.05pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.16</font></p></td> <td width=92% style="HEIGHT:13.05pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Debt Conversion Agreement, dated September 9, 2014, between the Company and Adaptive Capital, LLC. (Incorporated by reference to Exhibit 10.21 to our Form S-1 dated December 8, 2014.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.17</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Letter Agreement, dated December 6, 2016, between the Company and Adaptive Capital LLC (Incorporated by reference to Exhibit 10.19 to our Form 10-K for the fiscal year ended October 31, 2016).</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.18</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Form of 12% Secured Debenture, dated December 9, 2016, to be issued to Adaptive Capital LLC (Incorporated by reference to Exhibit 10.20 to our Form 10-K for the fiscal year ended October 31, 2016).</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.19</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Letter Agreement, dated October 17, 2016, between the Company and Mike Catelani (Incorporated by reference to Exhibit 10.21 to our Form 10-K for the fiscal year ended October 31, 2016).</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.20</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Collaborative Research Agreement, dated July 14, 2015, between Anixa Diagnostic Corporation and The Wistar Institute of Anatomy and Biology (Incorporated by reference to Exhibit 99.1 to our Form 10-K for the fiscal year ended October 31, 2016) (Portions of this exhibit have been redacted pursuant to a request for confidential treatment. The redacted portions have been separately filed with the Securities and Exchange Commission.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.21</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>First Amendment to The Collaborative Research Agreement, dated August 4, 2016, between Anixa Diagnostic Corporation and The Wistar Institute of Anatomy and Biology (Incorporated by reference to Exhibit 99.2 to our Form 10-K for the fiscal year ended October 31, 2016) (Portions of this exhibit have been redacted pursuant to a request for confidential treatment. The redacted portions have been separately filed with the Securities and Exchange Commission.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.22</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Collaborative Research Agreement, dated August 4, 2016, between Anixa Diagnostic Corporation and The Wistar Institute of Anatomy and Biology. (Incorporated by reference to Exhibit 99.3 to our Form 10-K for the fiscal year ended October 31, 2016) (Portions of this exhibit have been redacted pursuant to a request for confidential treatment. The redacted portions have been separately filed with the Securities and Exchange Commission.)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>10.23</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dealer Manager Agreement, dated March 3, 2017, between the Company and Advisory Group Equity Services, Ltd. doing business as RHK Capital (Incorporated by reference to Exhibit 10.1 to our Form 8-K dated March 8, 2017)</font></p></td></tr> <tr style=HEIGHT:4pt> <td width=7% style="HEIGHT:4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>21.1</font></p></td> <td width=92% style="HEIGHT:4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:115%'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Subsidiaries of ITUS Corporation. (Incorporated by reference to Exhibit 21 to our Form 10-K for the fiscal year ended October 31, 2016)</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=7% style="HEIGHT:12.4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>23.1</font></p></td> <td width=92% style="HEIGHT:12.4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Consent of Haskell &amp; White LLP. (Filed herewith.)</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=7% style="HEIGHT:12.4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>23.2</font></p></td> <td width=92% style="HEIGHT:12.4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Consent of Ellenoff Grossman &amp; Schole LLP. (Included in Exhibit 5.1)</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=7% style="HEIGHT:12.4pt; WIDTH:7.7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>99.1</font></p></td> <td width=92% style="HEIGHT:12.4pt; WIDTH:92.3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Patent Acquisition Agreement, dated November 11, 2013, between the Company and Meetrix Communications, Inc. (Filed herewith.)</font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 11pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 11pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>27</font></p> <div style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 11pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <hr style=PAGE-BREAK-AFTER:always> </font></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 11pt; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITEM 17. &nbsp;UNDERTAKINGS</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>The undersigned registrant hereby undertakes:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(1) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(2) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(3) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(i) If the registrant is relying on Rule 430B:</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(A) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(ii) If the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>28 <hr style=PAGE-BREAK-AFTER:always> </font> <p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 27.5pt 0pt 0in; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>SIGNATURES</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Pursuant to the requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California on this&nbsp;31<sup>st</sup> day of March, 2017.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <table width=733 bordercolor=transparent style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:12.4pt> <td width=50% style="HEIGHT:12.4pt; WIDTH:50.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=49% colspan=2 style="HEIGHT:12.4pt; WIDTH:49.04%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 1.1pt 0pt 0in; LINE-HEIGHT:normal'><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>ITUS CORPORATION</font></b></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=50% style="HEIGHT:12.4pt; WIDTH:50.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=3% style="HEIGHT:12.4pt; WIDTH:3.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=45% style="HEIGHT:12.4pt; WIDTH:45.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td></tr> <tr style=HEIGHT:12.4pt> <td width=50% style="HEIGHT:12.4pt; WIDTH:50.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=3% style="HEIGHT:12.4pt; WIDTH:3.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By:</font></p></td> <td width=45% style="BORDER-TOP:0px; HEIGHT:12.4pt; BORDER-RIGHT:0px; WIDTH:45.96%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:12.4pt> <td width=50% style="HEIGHT:12.4pt; WIDTH:50.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=3% style="HEIGHT:12.4pt; WIDTH:3.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=45% style="HEIGHT:12.4pt; WIDTH:45.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Name: Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:24.75pt> <td width=50% style="HEIGHT:24.75pt; WIDTH:50.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=3% style="HEIGHT:24.75pt; WIDTH:3.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p></td> <td width=45% style="HEIGHT:24.75pt; WIDTH:45.96%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=top> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Title:&nbsp;&nbsp;&nbsp;President and Chief Executive Officer&nbsp;&nbsp;</font></p></td></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><b><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>POWER OF ATTORNEY</font></b></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Robert Berman his true and lawful attorney-in-fact, with full power of substitution and resubstitution for him and in his name, place and stead, in any and all capacities to sign any and all amendments including post-effective amendments to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the SEC, hereby ratifying and confirming all that said attorney-in-fact or his substitute, each acting alone, may lawfully do or cause to be done by virtue thereof.</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.&nbsp;</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <table width=550 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By:</font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Robert A. Berman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Robert A. Berman&nbsp; </font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>President, Chief Executive Officer</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>and Director (Principal Executive Officer)</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By</font>:</font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Michael J. Catelani</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Michael J. Catelani</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Chief Financial Officer</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Principal Financial and Accounting Officer)</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By</font>: </font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Dr. Amit Kumar</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dr. Amit Kumar</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Executive Chairman of the Board&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By</font>:</font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Dale Fox&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dale Fox</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Director&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr> <td> <td>&nbsp; </td> <td> <td /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By</font>: </font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Dr. Arnold Baskies&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dr. Arnold Baskies</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Director&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p 0in normal? 0pt; line-height: text-align:left; margin: calibri?,?sans-serif?; style="FONT-SIZE:11pt; FONT-FAMILY:" align=left><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>By</font>: </font></p></td> <td width=251 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:188pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>/s/ Dr. John Monahan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>March 31, 2017</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Dr. John Monahan</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27 nowrap style="HEIGHT:15pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal'><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Director&nbsp;</font></p></td> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=159 nowrap style="HEIGHT:15pt; WIDTH:119pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /></tr></table> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal; TEXT-INDENT:27.5pt'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 9.9pt; LINE-HEIGHT:normal' align=center><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>29</font></p></div></body>
<!-- EDGAR Validation Code: 3D332332 -->
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5_1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<head><title> Exhibit 5.1</title> </head> <body vlink=purple link=blue style=TEXT-JUSTIFY-TRIM:punctuation lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=left><b><img width=1000 height=599 style="HEIGHT:183px; WIDTH:395px" src=f51_egs.jpg align=left></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right>Exhibit 5.1</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right><font style='FONT-FAMILY:"Garamond","serif"'>1345 AVENUE OF THE AMERICAS, 11<sup>th</sup> FLOOR</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right><font style='FONT-FAMILY:"Garamond","serif"'>NEW YORK, NEW YORK 10017</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right><font style='FONT-FAMILY:"Garamond","serif"'>&nbsp;TELEPHONE: (212) 370-1300</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right><font style='FONT-FAMILY:"Garamond","serif"'>&nbsp;FACSIMILE:&nbsp;&nbsp;&nbsp; (212) 370-7889</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0.1pt 0pt 0in' align=right><font style='FONT-FAMILY:"Garamond","serif"'>&nbsp;www.egsllp.com</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>March 31, 2017</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="BACKGROUND:white; COLOR:black">ITUS Corporation<br>12100 Wilshire Boulevard, Suite 1275</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="BACKGROUND:white; COLOR:black">Los Angeles, CA 90025</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Re: Registration Statement on Form S-3 (the &#147;Registration Statement&#148;)</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>Ladies and Gentlemen:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>We have acted as counsel for ITUS Corporation, a Delaware corporation (the &#147;<b>Company</b>&#148;), in connection with the registration for resale from time to time, on a continuous or delayed basis, of up to an aggregate of 1,487,606 shares of the Company&#146;s common stock, par value $0.01 per share (the &#147;<b>Common Stock</b>&#148;), which consists of 987,606 shares (the &#147;<b>Shares</b>&#148;) of Common Stock and (ii) 500,000 shares of Common Stock (the &#147;<b>Warrant Shares</b>&#148;) issuable upon exercise of outstanding warrants to purchase shares of Common Stock (the &#147;<b>Warrants</b>&#148;), owned by the selling stockholders identified in the Registration Statement on Form S-3 (the &#147;<b>Registration Statement</b>&#148;) filed by the Company to effect the registration of the Shares and Warrant Shares under the Securities Act of 1933, as amended (the &#147;<b>Securities Act</b>&#148;), and to which this opinion has been filed as an exhibit.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>In connection with the opinion expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of such opinion. Based on the foregoing, and subject to the further assumptions, qualifications and limitations set forth herein, we are of the opinion that (i) the Shares have been duly authorized and are validly issued, fully paid and non-assessable and (ii) upon due exercise of the Warrants in accordance with the terms thereof, and when certificates for the same have been duly executed and countersigned and delivered in accordance with and pursuant to the terms of the Warrants, the Warrant Shares will be duly and validly issued, fully paid and non-assessable.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>1</p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center> <hr> <DIV style="PAGE-BREAK-BEFORE: always"></DIV> </div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>We express no opinions other than as specifically set forth herein. We are opining solely on all applicable statutory provisions of the Delaware General Corporation Law and all applicable judicial determinations in connection therewith. We express no opinion as to whether the laws of any jurisdiction are applicable to the subject matter hereof. We are not rendering any opinion as to compliance with any federal or state law, rule or regulation relating to securities, or to the sale or issuance thereof. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of law or subsequent legal or factual developments which might affect any matters or opinions set forth herein. Furthermore, this opinion is furnished only to the Company, and is solely for the benefit of the Company. This letter may not be relied upon by any other person or entity for any other purpose, or furnished to, assigned to, quoted to, or relied upon by any other person or entity for any purpose other than the Registration Statement and the transactions contemplated thereby without our prior written consent, which may be granted or withheld in our sole discretion.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the reference to us under the caption &#147;Legal Matters&#148; in the prospectus constituting a part of the Registration Statement. In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <div align=right> <table width=333 bordercolor=transparent style="WIDTH:250pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=263 nowrap style="HEIGHT:15.75pt; WIDTH:197pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Very truly yours,</font></p></td></tr> <tr style=HEIGHT:8pt> <td width=263 nowrap style="HEIGHT:8pt; WIDTH:197pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" /> </tr><tr style=HEIGHT:15.75pt> <td width=263 nowrap style="HEIGHT:15.75pt; WIDTH:197pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>/s/ Ellenoff Grossman &amp; Schole LLP</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>2</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></div></body>
<!-- EDGAR Validation Code: 6903BB34 -->
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit23_1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<head><title>Exhibit 23.1</title> </head> <body lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><b><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>Exhibit 23.1</font></b></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p><pre style='FONT-SIZE:10pt; FONT-FAMILY:"Courier New"; COLOR:#000033; TEXT-ALIGN:center; MARGIN:0in 0in 0pt'><b><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:windowtext'>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </font></b></pre><pre style='FONT-SIZE:10pt; FONT-FAMILY:"Courier New"; COLOR:#000033; MARGIN:0in 0in 0pt'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:windowtext'>&nbsp;</font></pre> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>We consent to the incorporation by reference in this Registration Statement on Form S-3 of <b><i>ITUS Corporation</i></b> (the &#147;Company&#148;) of our report dated December 7, 2016, relating to our audits of the Company&#146;s consolidated financial statements as of October 31, 2016 and 2015, and for each of the years then ended, included in the Company&#146;s Annual Report on Form 10-K for the year ended October 31, 2016, which report includes an explanatory paragraph expressing substantial doubt regarding the Company&#146;s ability to continue as a going concern. We also consent to the reference to us under the heading &#147;Experts&#148; in this Registration Statement.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>HASKELL &amp; WHITE LLP</font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt' align=left>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt' align=left><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>Irvine, California</font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt' align=left><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>March 31, 2017</font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Arial","sans-serif"; TEXT-ALIGN:left; MARGIN:0in 0in 0pt 3in; TEXT-INDENT:0.5in' align=left>&nbsp;</p></div></body>
<!-- EDGAR Validation Code: 849F2251 -->
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>exhibit99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<head><title>Exhibit 99.1</title> </head> <body> <div> <p style="TEXT-ALIGN:right; MARGIN:0px; LINE-HEIGHT:10pt" align=right><b><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:1pt'>Exhibit 99.1</font></b></p> <p style="TEXT-ALIGN:center; MARGIN:0.05pt 196.65pt 0pt 3.5in; LINE-HEIGHT:11.4pt" align=center><b><u><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:1pt'>AGREEMENT</font></u></b></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.25pt 0pt 58.55pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 3.25pt 0pt 0.87in; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>This<font style=LETTER-SPACING:2.25pt> </font>agreement ("Agreement") is entered into this</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LETTER-SPACING:1.45pt'> </font><u><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>11</font></u><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LETTER-SPACING:1.45pt'> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>day of November, 2013 (the<font style=LETTER-SPACING:2.75pt> </font>"Effective Date"),<font style=LETTER-SPACING:2pt> </font>by<font style=LETTER-SPACING:2.2pt> </font>and<font style=LETTER-SPACING:2.55pt> </font>between Meetrix Communications, Inc.<font style=LETTER-SPACING:2.55pt> </font>("Assignor"), a corporation with an<font style=LETTER-SPACING:0.45pt> </font>address<font style=LETTER-SPACING:0.9pt> </font>at<font style=LETTER-SPACING:0.5pt> </font>c/o<font style=LETTER-SPACING:1.05pt> </font>AVG<font style=LETTER-SPACING:1.3pt> </font>Ventures<font style=LETTER-SPACING:0.8pt> </font>500<font style=LETTER-SPACING:0.4pt> </font>Ygnacio<font style=LETTER-SPACING:1.4pt> </font>Valley<font style=LETTER-SPACING:1pt> </font>road,<font style=LETTER-SPACING:0.55pt> </font>Suite<font style=LETTER-SPACING:0.8pt> </font>360<font style=LETTER-SPACING:0.8pt> </font>Walnut<font style=LETTER-SPACING:1.4pt> </font>Creek,<font style=LETTER-SPACING:0.9pt> </font>CA<font style=LETTER-SPACING:0.45pt> </font>94596, and<font style=LETTER-SPACING:0.35pt> </font>CTI<font style=LETTER-SPACING:-0.1pt> </font>PATENT<font style=LETTER-SPACING:0.85pt> </font>ACQUISITION<font style=LETTER-SPACING:2.05pt> </font>CORPORATION<font style=LETTER-SPACING:1.35pt> </font>("CTIPAC"),<font style=LETTER-SPACING:1.6pt> </font>a<font style=LETTER-SPACING:0.4pt> </font>Delaware<font style=LETTER-SPACING:1pt> </font>corporation,<font style=LETTER-SPACING:1.5pt> </font>having<font style=LETTER-SPACING:0.85pt> </font>a principal<font style=LETTER-SPACING:0.5pt> </font>place<font style=LETTER-SPACING:0.85pt> </font>of business<font style=LETTER-SPACING:0.45pt> </font>at<font style=LETTER-SPACING:1.15pt> </font>900<font style=LETTER-SPACING:1.15pt> </font>Walt<font style=LETTER-SPACING:0.9pt> </font>Whitman<font style=LETTER-SPACING:1.5pt> </font>Road,<font style=LETTER-SPACING:1.1pt> </font>Melville<font style=LETTER-SPACING:1.25pt> </font>NY<font style=LETTER-SPACING:1.15pt> </font>11747<font style=LETTER-SPACING:1.35pt> </font>(Assignor<font style=LETTER-SPACING:1.85pt> </font>and<font style=LETTER-SPACING:1.15pt> </font>CTIPAC may<font style=LETTER-SPACING:-0.35pt> </font>hereafter<font style=LETTER-SPACING:0.1pt> </font>be<font style=LETTER-SPACING:0.3pt> </font>referred<font style=LETTER-SPACING:1pt> </font>to<font style=LETTER-SPACING:0.1pt> </font>as<font style=LETTER-SPACING:0.25pt> </font>a<font style=LETTER-SPACING:-0.1pt> </font>"Party"<font style=LETTER-SPACING:0.95pt> </font>and<font style=LETTER-SPACING:0.4pt> </font>collectively<font style=LETTER-SPACING:1.45pt> </font>as<font style=LETTER-SPACING:0.05pt> </font>the<font style=LETTER-SPACING:0.05pt> </font>"Parties").</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.25pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 192.05pt 0pt 244.25pt; LINE-HEIGHT:normal" align=center><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>&nbsp;<u>BACKGROUND</u></font></font></font></font></font></b></p> <p style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt 0in 0pt 0.87in; LINE-HEIGHT:normal; TEXT-INDENT:0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt -1pt 0pt 0.87in; LINE-HEIGHT:normal; TEXT-INDENT:0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><strong>WHEREAS,</strong> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>Assignor<font style=LETTER-SPACING:2.6pt> </font>is<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:1.65pt> </font>sole<font style=LETTER-SPACING:2pt> </font>and<font style=LETTER-SPACING:2.05pt> </font>exclusive<font style=LETTER-SPACING:2.4pt> </font>owner<font style=LETTER-SPACING:2.25pt> </font>of<font style=LETTER-SPACING:1.75pt> </font>the<font style=LETTER-SPACING:1.9pt> </font>U.S.<font style=LETTER-SPACING:2.75pt> </font>Patent<font style=LETTER-SPACING:2.5pt> </font>Nos.<font style=LETTER-SPACING:1.95pt> </font>7,444,425; 8,477,778; 7,664,056;<font style=LETTER-SPACING:1.4pt> </font>and<font style=LETTER-SPACING:0.4pt> </font>8,339,997<font style=LETTER-SPACING:0.9pt> </font>and<font style=LETTER-SPACING:0.05pt> </font>all<font style=LETTER-SPACING:0.4pt> </font>any<font style=LETTER-SPACING:0.45pt> </font>corresponding<font style=LETTER-SPACING:0.45pt> </font>patent<font style=LETTER-SPACING:0.35pt> </font>applications,<font style=LETTER-SPACING:1.65pt> </font>continuations, continuations<font style=LETTER-SPACING:2.3pt> </font>in<font style=LETTER-SPACING:1.95pt> </font>part, divisions, extensions, renewals, reissues<font style=LETTER-SPACING:2.25pt> </font>and<font style=LETTER-SPACING:2.4pt> </font>re-examinations thereof,<font style=LETTER-SPACING:2.3pt> </font>all<font style=LETTER-SPACING:2.15pt> </font>of which<font style=LETTER-SPACING:0.55pt> </font>are<font style=LETTER-SPACING:1.4pt> </font>set<font style=LETTER-SPACING:1.75pt> </font>forth<font style=LETTER-SPACING:2.1pt> </font>more<font style=LETTER-SPACING:1.75pt> </font>fully<font style=LETTER-SPACING:2pt> </font>on<font style=LETTER-SPACING:1.7pt> </font><u>Exhibit<font style=LETTER-SPACING:1.8pt> </font>A</u><font style=LETTER-SPACING:1.65pt> </font>attached<font style=LETTER-SPACING:2.15pt> </font>hereto<font style=LETTER-SPACING:1.85pt> </font>and<font style=LETTER-SPACING:1.6pt> </font>are<font style=LETTER-SPACING:1.6pt> </font>collectively referred<font style=LETTER-SPACING:2.1pt> </font>to<font style=LETTER-SPACING:1.35pt> </font>as<font style=LETTER-SPACING:1.75pt> </font>the "Patents";</font></font></font></font></font></font></p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt -1pt 0pt 0.87in; LINE-HEIGHT:normal; TEXT-INDENT:0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt 2.55pt 0pt 0.87in; LINE-HEIGHT:103%; TEXT-INDENT:0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>&nbsp;</strong><strong>WHEREAS,</strong><font style=LETTER-SPACING:2.6pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>Assignor<font style=LETTER-SPACING:1.65pt> </font>desires<font style=LETTER-SPACING:1.7pt> </font>to<font style=LETTER-SPACING:1.15pt> </font>sell<font style=LETTER-SPACING:1.4pt> </font>to<font style=LETTER-SPACING:1.3pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC<font style=LETTER-SPACING:1.55pt> </font>all<font style=LETTER-SPACING:0.95pt> </font>of<font style=LETTER-SPACING:1.5pt> </font>Assignor's<font style=LETTER-SPACING:1.6pt> </font>right,<font style=LETTER-SPACING:1.65pt> </font>title<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:1.45pt> </font>interest<font style=LETTER-SPACING:1pt> </font>in and<font style=LETTER-SPACING:1.1pt> </font>to<font style=LETTER-SPACING:0.85pt> </font>the<font style=LETTER-SPACING:1.5pt> </font>Patents<font style=LETTER-SPACING:1.85pt> </font>and<font style=LETTER-SPACING:1.75pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC,<font style=LETTER-SPACING:2.1pt> </font>in<font style=LETTER-SPACING:1.3pt> </font>turn,<font style=LETTER-SPACING:1.5pt> </font>desires<font style=LETTER-SPACING:1.95pt> </font>to<font style=LETTER-SPACING:1.8pt> </font>acquire<font style=LETTER-SPACING:1.4pt> </font>all<font style=LETTER-SPACING:1.85pt> </font>right,<font style=LETTER-SPACING:1.35pt> </font>title<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:1.8pt> </font>interest<font style=LETTER-SPACING:2.45pt> </font>in<font style=LETTER-SPACING:1.3pt> </font>and<font style=LETTER-SPACING:1.4pt> </font>to<font style=LETTER-SPACING:1.6pt> </font>the Patents;</font></font></font></font></font></font></p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt 2.55pt 0pt 0.87in; LINE-HEIGHT:103%; TEXT-INDENT:0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0.65pt 2.3pt 0pt 0.87in; LINE-HEIGHT:105%; TEXT-INDENT:0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>&nbsp;</strong><strong>NOW, THEREFORE,</strong> <font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>in<font style=LETTER-SPACING:2.5pt> </font>consideration of the<font style=LETTER-SPACING:2.5pt> </font>promises and<font style=LETTER-SPACING:2.6pt> </font>mutual covenants contained herein<font style=LETTER-SPACING:-0.6pt> </font>and<font style=LETTER-SPACING:0.4pt> </font>for<font style=LETTER-SPACING:0.5pt> </font>other<font style=LETTER-SPACING:0.6pt> </font>good<font style=LETTER-SPACING:0.65pt> </font>and<font style=LETTER-SPACING:0.75pt> </font>valuable<font style=LETTER-SPACING:0.5pt> </font>consideration,<font style=LETTER-SPACING:1.4pt> </font>Assignor<font style=LETTER-SPACING:0.75pt> </font>and<font style=LETTER-SPACING:0.15pt> </font>CTIPAC<font style=LETTER-SPACING:0.85pt> </font>agree<font style=LETTER-SPACING:0.65pt> </font>as<font style=LETTER-SPACING:0.35pt> </font>follows:</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 2.3pt 0pt 0in; LINE-HEIGHT:105%; TEXT-INDENT:32.5pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; MARGIN:0in 232.85pt 0pt 63.35pt; LINE-HEIGHT:normal"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>1. </font></b><b><u><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>ASSIGNMENT AND DUE <font style=FONT-SIZE:11pt>DILLIGENCE</font></font></u></b></font></font></font></font></p> <p style="MARGIN:0.95pt 0in 0pt; LINE-HEIGHT:11pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.55pt 0pt 1.6in; LINE-HEIGHT:93%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Assignment.</u> Assignor assigns, conveys, transfers and<font style=LETTER-SPACING:2pt> </font>sells<font style=LETTER-SPACING:2.6pt> </font>to<font style=LETTER-SPACING:1.55pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC,<font style=LETTER-SPACING:2.15pt> </font>or CTIPAC's<font style=LETTER-SPACING:0.35pt> </font>designated Affiliate<font style=LETTER-SPACING:2.4pt> </font>(as<font style=LETTER-SPACING:1.25pt> </font>defined<font style=LETTER-SPACING:2pt> </font>below)<font style=LETTER-SPACING:1.75pt> </font>if<font style=LETTER-SPACING:0.9pt> </font>CTIPAC<font style=LETTER-SPACING:2.15pt> </font>transfers or<font style=LETTER-SPACING:0.75pt> </font>assigns its interest in<font style=LETTER-SPACING:2.25pt> </font>this Agreement per<font style=LETTER-SPACING:2.45pt> </font>Section 8.1 below, the entire right, title, and interest in<font style=LETTER-SPACING:1.5pt> </font>and<font style=LETTER-SPACING:1.55pt> </font>to<font style=LETTER-SPACING:1.6pt> </font>the<font style=LETTER-SPACING:1.55pt> </font>Patents, including without<font style=LETTER-SPACING:2.35pt> </font>limitation, all<font style=LETTER-SPACING:1.75pt> </font>rights<font style=LETTER-SPACING:2.55pt> </font>of<font style=LETTER-SPACING:1.45pt> </font>Assignor to<font style=LETTER-SPACING:1.15pt> </font>sue<font style=LETTER-SPACING:1.6pt> </font>for<font style=LETTER-SPACING:1.6pt> </font>past,<font style=LETTER-SPACING:2pt> </font>present<font style=LETTER-SPACING:1.95pt> </font>and<font style=LETTER-SPACING:1.3pt> </font>future<font style=LETTER-SPACING:2.45pt> </font>infringement of<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:1.15pt> </font>Patents, including the<font style=LETTER-SPACING:1pt> </font>right to collect and receive any damages, royalties, or settlements for such past, present and<font style=LETTER-SPACING:1.9pt> </font>future<font style=LETTER-SPACING:2.2pt> </font>infringements,<font style=LETTER-SPACING:0.65pt> </font>all<font style=LETTER-SPACING:1.8pt> </font>rights<font style=LETTER-SPACING:1.8pt> </font>to<font style=LETTER-SPACING:1.4pt> </font>seek<font style=LETTER-SPACING:1.65pt> </font>and<font style=LETTER-SPACING:1.65pt> </font>obtain injunctive or<font style=LETTER-SPACING:1.45pt> </font>other equitable relief,<font style=LETTER-SPACING:2.4pt> </font>and<font style=LETTER-SPACING:1.1pt> </font>any<font style=LETTER-SPACING:1.65pt> </font>and<font style=LETTER-SPACING:1.3pt> </font>all<font style=LETTER-SPACING:1.45pt> </font>causes<font style=LETTER-SPACING:2.25pt> </font>of<font style=LETTER-SPACING:1.2pt> </font>action<font style=LETTER-SPACING:2.35pt> </font>relating to<font style=LETTER-SPACING:1.05pt> </font>any<font style=LETTER-SPACING:1.85pt> </font>of<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:1.45pt> </font>inventions or<font style=LETTER-SPACING:0.3pt> </font>discoveries described<font style=LETTER-SPACING:1.8pt> </font>in<font style=LETTER-SPACING:0.05pt> </font>the<font style=LETTER-SPACING:0.65pt> </font>Patents,<font style=LETTER-SPACING:1.35pt> </font>and<font style=LETTER-SPACING:0.4pt> </font>all<font style=LETTER-SPACING:0.1pt> </font>goodwill<font style=LETTER-SPACING:2.1pt> </font>in connection<font style=LETTER-SPACING:2.65pt> </font>with<font style=LETTER-SPACING:0.4pt> </font>the foregoing. Assignor shall execute and deliver to CTI<font style=LETTER-SPACING:0.5pt>P</font>AC (or CTI<font style=LETTER-SPACING:0.5pt>P</font>AC's designated Affiliate) a<font style=LETTER-SPACING:1.5pt> </font>separate Assignment, which is<font style=LETTER-SPACING:1.55pt> </font>attached hereto as<font style=LETTER-SPACING:1.65pt> </font><u>Exhibit E</u>, and such other documents as CTI<font style=LETTER-SPACING:0.5pt>P</font>AC (or CTI<font style=LETTER-SPACING:0.25pt>P</font>AC's designated Affiliate) shall<font style=LETTER-SPACING:2.5pt> </font>reasonably require<font style=LETTER-SPACING:2.2pt> </font>in<font style=LETTER-SPACING:0.55pt> </font>order<font style=LETTER-SPACING:1.75pt> </font>to<font style=LETTER-SPACING:0.85pt> </font>comply<font style=LETTER-SPACING:2.05pt> </font>with<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:1.15pt> </font>effectuate the<font style=LETTER-SPACING:1.45pt> </font>terms<font style=LETTER-SPACING:1.3pt> </font>set<font style=LETTER-SPACING:1.25pt> </font>forth in<font style=LETTER-SPACING:1.55pt> </font>this<font style=LETTER-SPACING:2.4pt> </font>Agreement. The<font style=LETTER-SPACING:1.85pt> </font>term<font style=LETTER-SPACING:2.1pt> </font>"Affiliate" shall<font style=LETTER-SPACING:2.35pt> </font>mean<font style=LETTER-SPACING:2.05pt> </font>(i)<font style=LETTER-SPACING:1.8pt> </font>with<font style=LETTER-SPACING:2.45pt> </font>respect to<font style=LETTER-SPACING:1.55pt> </font>any<font style=LETTER-SPACING:1.85pt> </font>entity</font> other<font style=LETTER-SPACING:2.4pt> </font>than<font style=LETTER-SPACING:2.3pt> </font>CTIPAC, any<font style=LETTER-SPACING:1.85pt> </font>entity<font style=LETTER-SPACING:2.7pt> </font>that,<font style=LETTER-SPACING:2.4pt> </font>directly or<font style=LETTER-SPACING:1.75pt> </font>indirectly, controls, is<font style=LETTER-SPACING:1.3pt> </font>controlled by<font style=LETTER-SPACING:0.8pt> </font>or<font style=LETTER-SPACING:1pt> </font>is<font style=LETTER-SPACING:0.9pt> </font>under<font style=LETTER-SPACING:1.8pt> </font>common<font style=LETTER-SPACING:2.05pt> </font>control<font style=LETTER-SPACING:2.35pt> </font>with<font style=LETTER-SPACING:1.55pt> </font>such<font style=LETTER-SPACING:1.4pt> </font>entity;<font style=LETTER-SPACING:1.6pt> </font>and<font style=LETTER-SPACING:1.5pt> </font>(ii)<font style=LETTER-SPACING:1.4pt> </font>with<font style=LETTER-SPACING:1.8pt> </font>respect<font style=LETTER-SPACING:2.6pt> </font>to<font style=LETTER-SPACING:0.85pt> </font>CTI<font style=LETTER-SPACING:0.5pt>P</font>AC, any<font style=LETTER-SPACING:1.3pt> </font>entity<font style=LETTER-SPACING:2.2pt> </font>that,<font style=LETTER-SPACING:1.55pt> </font>directly<font style=LETTER-SPACING:2.35pt> </font>or<font style=LETTER-SPACING:0.8pt> </font>indirectly is<font style=LETTER-SPACING:0.8pt> </font>controlled<font style=LETTER-SPACING:2.5pt> </font>by<font style=LETTER-SPACING:0.8pt> </font>CTI<font style=LETTER-SPACING:0.5pt>P</font>AC.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.55pt 0pt 1.6in; LINE-HEIGHT:93%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.35pt 0pt 1.6in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Due Diligence.</u> Assignor acknowledges and agrees that CTI<font style=LETTER-SPACING:0.25pt>P</font>AC has undertaken<font style=LETTER-SPACING:0.95pt> </font>and<font style=LETTER-SPACING:0.6pt> </font>performed<font style=LETTER-SPACING:0.55pt> </font>due<font style=LETTER-SPACING:0.5pt> </font>diligence<font style=LETTER-SPACING:0.95pt> </font>on<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patents<font style=LETTER-SPACING:0.55pt> </font>prior<font style=LETTER-SPACING:0.35pt> </font>to<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.3pt> </font>Effective<font style=LETTER-SPACING:0.9pt> </font>Date.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.35pt 0pt 1.6in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.35pt 0pt 1.6in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Assignor and Inventor Cooperation Transfer of Materials</u>. Assignor agrees to cooperate with CTIPAC, and shall provide reasonable efforts to request, at CTIPAC 's expense, each of the named inventors on the Patents (the "Inventors") to cooperate and to promptly<font style=LETTER-SPACING:1.15pt> </font>provide<font style=LETTER-SPACING:1pt> </font>to<font style=LETTER-SPACING:0.5pt> </font>CTIPAC<font style=LETTER-SPACING:0.8pt> </font>all<font style=LETTER-SPACING:0.6pt> </font>information<font style=LETTER-SPACING:0.75pt> </font>in<font style=LETTER-SPACING:0.6pt> </font>Assignor's and<font style=LETTER-SPACING:0.2pt> </font>such<font style=LETTER-SPACING:0.65pt> </font>Inventors' possession or control regarding the Patents, in each<font style=LETTER-SPACING:1.45pt> </font>case which information or documents<font style=LETTER-SPACING:1.95pt> </font>are<font style=LETTER-SPACING:1.65pt> </font>not<font style=LETTER-SPACING:2pt> </font>subject<font style=LETTER-SPACING:2.4pt> </font>to<font style=LETTER-SPACING:2.05pt> </font>attorney-client<font style=LETTER-SPACING:2.25pt> </font>privilege<font style=LETTER-SPACING:2.15pt> </font>(or<font style=LETTER-SPACING:2.05pt> </font>similar<font style=LETTER-SPACING:2.55pt> </font>privilege)<font style=LETTER-SPACING:1.85pt> </font>and<font style=LETTER-SPACING:1.9pt> </font>that are not subject to confidentiality obligations to a third party. Within 48 hours following<font style=LETTER-SPACING:2.45pt> </font>the<font style=LETTER-SPACING:2.2pt> </font>Effective Date,<font style=LETTER-SPACING:2.55pt> </font>Assignor<font style=LETTER-SPACING:2.5pt> </font>shall<font style=LETTER-SPACING:2.35pt> </font>make<font style=LETTER-SPACING:2.3pt> </font>available to<font style=LETTER-SPACING:2.25pt> </font>CTIPAC<font style=LETTER-SPACING:2.4pt> </font>copies<font style=LETTER-SPACING:2.15pt> </font>(in either paper or electronic form) of all known non-public files, information and documents<font style=LETTER-SPACING:2.25pt> </font>relating<font style=LETTER-SPACING:2.45pt> </font>to<font style=LETTER-SPACING:2.05pt> </font>the<font style=LETTER-SPACING:2.35pt> </font>Patents<font style=LETTER-SPACING:2.45pt> </font>within<font style=LETTER-SPACING:1.9pt> </font>Assignor's possession which<font style=LETTER-SPACING:2.15pt> </font>Assignor<font style=LETTER-SPACING:2pt> </font>has not<font style=LETTER-SPACING:0.1pt> </font>already<font style=LETTER-SPACING:0.85pt> </font>made<font style=LETTER-SPACING:0.4pt> </font>available,<font style=LETTER-SPACING:1.45pt> </font>including<font style=LETTER-SPACING:1.2pt> </font>without<font style=LETTER-SPACING:0.4pt> </font>limitation,<font style=LETTER-SPACING:1.1pt> </font>the<font style=LETTER-SPACING:0.7pt> </font>complete<font style=LETTER-SPACING:0.9pt> </font>file<font style=LETTER-SPACING:0.2pt> </font>histories<font style=LETTER-SPACING:0.6pt> </font>for the Patents,<font style=LETTER-SPACING:0.95pt> </font>any<font style=LETTER-SPACING:0.05pt> </font>known<font style=LETTER-SPACING:1pt> </font>documents<font style=LETTER-SPACING:1.25pt> </font>within<font style=LETTER-SPACING:0.15pt> </font>Assignor's<font style=LETTER-SPACING:2.65pt> </font>possession<font style=LETTER-SPACING:1.25pt> </font>pertaining<font style=LETTER-SPACING:0.45pt> </font>to:<font style=LETTER-SPACING:0.3pt> </font>the infringement or<font style=LETTER-SPACING:2.2pt> </font>validity of<font style=LETTER-SPACING:2.45pt> </font>the<font style=LETTER-SPACING:2.5pt> </font>Patents,<font style=LETTER-SPACING:2.35pt> </font>any<font style=LETTER-SPACING:2.25pt> </font>analyses<font style=LETTER-SPACING:0.15pt> </font>pertaining<font style=LETTER-SPACING:0.4pt> </font>to the<font style=LETTER-SPACING:2.4pt> </font>number<font style=LETTER-SPACING:2.55pt> </font>and identity<font style=LETTER-SPACING:1.75pt> </font>of<font style=LETTER-SPACING:1.65pt> </font>potential<font style=LETTER-SPACING:1.65pt> </font>infringers<font style=LETTER-SPACING:2.25pt> </font>of<font style=LETTER-SPACING:1.5pt> </font>the<font style=LETTER-SPACING:1.3pt> </font>Patents,<font style=LETTER-SPACING:1.4pt> </font>and<font style=LETTER-SPACING:1.55pt> </font>the<font style=LETTER-SPACING:1.4pt> </font>size<font style=LETTER-SPACING:1.8pt> </font>of<font style=LETTER-SPACING:1.75pt> </font>the<font style=LETTER-SPACING:1.3pt> </font>potential<font style=LETTER-SPACING:1.65pt> </font>infringing market, potential infringement damages (all of the foregoing collectively the "Required Documents").</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="MARGIN:0in 6.75pt 0pt 120.8pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.45pt">&nbsp;</p> <p style="MARGIN:0in 6.75pt 0pt 120.8pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.45pt"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>1.4&nbsp; &nbsp;</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><u>Maintenance<font style=LETTER-SPACING:1.5pt> </font>and<font style=LETTER-SPACING:0.65pt> </font>Prosecution<font style=LETTER-SPACING:1.75pt> </font>of<font style=LETTER-SPACING:0.75pt> </font>the<font style=LETTER-SPACING:0.6pt> </font>Patents.</u><font style=LETTER-SPACING:0.4pt> </font>CTIPAC<font style=LETTER-SPACING:1.05pt> </font>agrees<font style=LETTER-SPACING:0.85pt> </font>that<font style=LETTER-SPACING:0.65pt> </font>it<font style=LETTER-SPACING:0.15pt> </font>shall,<font style=LETTER-SPACING:0.55pt> </font>for<font style=LETTER-SPACING:0.45pt> </font>the<font style=LETTER-SPACING:0.45pt> </font>Term of<font style=LETTER-SPACING:0.3pt> </font>this<font style=LETTER-SPACING:0.4pt> </font>Agreement:</font></font></font></font></font></font></font></p> <p style="MARGIN:0in 6.75pt 0pt 120.8pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.45pt">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.05pt 0pt 2.5in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>1.4.1&nbsp;&nbsp;&nbsp; &nbsp;keep<font style=LETTER-SPACING:0.8pt> </font>the<font style=LETTER-SPACING:0.6pt> </font>Patents<font style=LETTER-SPACING:1.2pt> </font>in<font style=LETTER-SPACING:0.5pt> </font>full<font style=LETTER-SPACING:0.45pt> </font>force<font style=LETTER-SPACING:0.4pt> </font>and<font style=LETTER-SPACING:0.6pt> </font>effect,<font style=LETTER-SPACING:0.7pt> </font>and<font style=LETTER-SPACING:0.8pt> </font>shall<font style=LETTER-SPACING:0.85pt> </font>continue<font style=LETTER-SPACING:1.1pt> </font>prosecuting<font style=LETTER-SPACING:1.05pt> </font>any pending applications in good faith, and file continuing applications claiming priority to the Patents, as necessary, to maintain at least one patent<font style=LETTER-SPACING:0.25pt> </font>application<font style=LETTER-SPACING:1.85pt> </font>pending<font style=LETTER-SPACING:0.6pt> </font>for<font style=LETTER-SPACING:0.1pt> </font>the<font style=LETTER-SPACING:0.2pt> </font>Term<font style=LETTER-SPACING:0.65pt> </font>as<font style=LETTER-SPACING:-0.05pt> </font>defined<font style=LETTER-SPACING:0.95pt> </font>in<font style=LETTER-SPACING:0.25pt> </font><u>Section<font style=LETTER-SPACING:0.55pt> </font>7.1;</u></font></font></font></font></font></p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.05pt 0pt 2.5in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.55pt 3.3pt 0pt 2.5in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1.4.2&nbsp;&nbsp;&nbsp;&nbsp; pay<font style=LETTER-SPACING:1.15pt> </font>all<font style=LETTER-SPACING:1.6pt> </font>maintenance<font style=LETTER-SPACING:2.2pt> </font>and<font style=LETTER-SPACING:1.3pt> </font>prosecution<font style=LETTER-SPACING:1.65pt> </font>fees<font style=LETTER-SPACING:1.2pt> </font>that<font style=LETTER-SPACING:1.45pt> </font>become<font style=LETTER-SPACING:1.55pt> </font>due<font style=LETTER-SPACING:1.55pt> </font>with<font style=LETTER-SPACING:1.25pt> </font>respect<font style=LETTER-SPACING:1.3pt> </font>to the<font style=LETTER-SPACING:0.4pt> </font>Patents;</font></p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.55pt 3.3pt 0pt 2.5in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:12.2pt; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1.4.3&nbsp;&nbsp;&nbsp;&nbsp; not<font style=LETTER-SPACING:0.45pt> </font>engage<font style=LETTER-SPACING:0.8pt> </font>in<font style=LETTER-SPACING:0.55pt> </font>any<font style=LETTER-SPACING:0.65pt> </font>conduct,<font style=LETTER-SPACING:0.5pt> </font>or<font style=LETTER-SPACING:0.3pt> </font>omit<font style=LETTER-SPACING:0.65pt> </font>to<font style=LETTER-SPACING:0.25pt> </font>perform<font style=LETTER-SPACING:1.05pt> </font>any<font style=LETTER-SPACING:0.65pt> </font>necessary<font style=LETTER-SPACING:0.6pt> </font>act,<font style=LETTER-SPACING:0.5pt> </font>including, without limitation, failure to submit all material prior art known to CTIPAC,<font style=LETTER-SPACING:0.85pt> </font>the<font style=LETTER-SPACING:0.15pt> </font>result<font style=LETTER-SPACING:0.5pt> </font>of<font style=LETTER-SPACING:0.35pt> </font>which may<font style=LETTER-SPACING:0.25pt> </font>invalidate<font style=LETTER-SPACING:1.05pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patents<font style=LETTER-SPACING:0.4pt> </font>or preclude<font style=LETTER-SPACING:0.7pt> </font>the enforceability<font style=LETTER-SPACING:1.45pt> </font>of<font style=LETTER-SPACING:0.55pt> </font>the Patents;<font style=LETTER-SPACING:0.3pt> </font>and</font></p> <p style="PADDING-BOTTOM:0px; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:12.2pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.35pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>1.4.4&nbsp;&nbsp;&nbsp;&nbsp; provide<font style=LETTER-SPACING:1.1pt> </font>notice<font style=LETTER-SPACING:0.95pt> </font>to<font style=LETTER-SPACING:0.85pt> </font>Assignor<font style=LETTER-SPACING:1pt> </font>that<font style=LETTER-SPACING:0.5pt> </font>it<font style=LETTER-SPACING:0.4pt> </font>no<font style=LETTER-SPACING:0.5pt> </font>longer<font style=LETTER-SPACING:0.85pt> </font>desires<font style=LETTER-SPACING:1.2pt> </font>to<font style=LETTER-SPACING:0.55pt> </font>prosecute<font style=LETTER-SPACING:1.05pt> </font>the<font style=LETTER-SPACING:0.1pt> </font>Patents while the Patents are in full force and effect, and if so, at Assignors election,<font style=LETTER-SPACING:0.55pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC<font style=LETTER-SPACING:1.05pt> </font>shall<font style=LETTER-SPACING:0.4pt> </font>transfer<font style=LETTER-SPACING:0.3pt> </font>the right,<font style=LETTER-SPACING:0.55pt> </font>title<font style=LETTER-SPACING:0.2pt> </font>and<font style=LETTER-SPACING:0.35pt> </font>interest<font style=LETTER-SPACING:0.4pt> </font>in and<font style=LETTER-SPACING:0.4pt> </font>to<font style=LETTER-SPACING:0.3pt> </font>the Patents<font style=LETTER-SPACING:0.85pt> </font>be<font style=LETTER-SPACING:0.3pt> </font>transferred<font style=LETTER-SPACING:1.5pt> </font>to<font style=LETTER-SPACING:0.15pt> </font>Assignor.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.35pt 0pt 175.75pt; LINE-HEIGHT:103%; TEXT-INDENT:-32.75pt"><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>&nbsp;</p></font></font> <p style="MARGIN:0in -1pt 0pt 57.95pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>2 <u>LICENSE BACK</u></font></font></font></font></font></b></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="PADDING-BOTTOM:0px; TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.55pt 0pt 1.6in; LINE-HEIGHT:94%; PADDING-RIGHT:0px; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Limited License</u>. CTIPAC (or CTIPAC's designated Affiliate) grants to Assignor an irrevocable, worldwide fully paid up limited license to practice the methods which may be covered by one or more claims of the Patents, and to produce and license software which may be covered by one or more claims of the Patents or which satisfy a substantive element of any claim of the Patents, to licensees approved and agreed to by CTIPAC, which approval may be reasonably granted in CTIPAC's sole and absolute discretion. The License granted herein is expressly limited to the stated terms and no further license rights are granted by implication or otherwise. Under no circumstances is Assignor authorized to: (i) grant bare licenses to the Patents to any third party; (ii) grant a license to any software or other product, which may be covered by one or more claims of the Patents, and that has not been created and licensed by Assignor; (iii) sublicense or transfer Assignor's license rights to any third party or other entity; or (iv) knowingly engage in any activity that may interfere with or may negatively impact CTIPAC's licensing and enforcement of the Patents, unless such activity is ordered by, in response to direction from, or in conjunction with, a court of law.</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'> </font></font></font></font></font></p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>2 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="MARGIN:0.7pt 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 57.95pt; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>3</strong> <b><u><font style="POSITION:relative; TOP:-0.5pt">CONSIDERATION</font></u></b></font></font></font></font></font></p> <p style="MARGIN:0.2pt 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.9pt 0pt 1.6in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Restricted<font style=LETTER-SPACING:1.1pt> </font>Stock.</u> Within<font style=LETTER-SPACING:2.75pt> </font>thirty<font style=LETTER-SPACING:2.5pt> </font>(30) days<font style=LETTER-SPACING:2.4pt> </font>of<font style=LETTER-SPACING:2.7pt> </font>the<font style=LETTER-SPACING:2.15pt> </font>Effective Date,<font style=LETTER-SPACING:2.45pt> </font>CTIPAC<font style=LETTER-SPACING:2.45pt> </font>shall cause its parent company, CopyTele, Inc. ("CopyTele") to issue One Million (1,000,000)<font style=LETTER-SPACING:2.7pt> </font>shares<font style=LETTER-SPACING:1.55pt> </font>of<font style=LETTER-SPACING:1.65pt> </font>CopyTele's common<font style=LETTER-SPACING:1.65pt> </font>stock<font style=LETTER-SPACING:1.9pt> </font>(the<font style=LETTER-SPACING:1.05pt> </font>"Restricted<font style=LETTER-SPACING:0.6pt> </font>Stock")<font style=LETTER-SPACING:2.2pt> </font>to<font style=LETTER-SPACING:1.35pt> </font>Assignor. Assignor<font style=LETTER-SPACING:1.25pt> </font>is<font style=LETTER-SPACING:0.8pt> </font>acquiring<font style=LETTER-SPACING:1.2pt> </font>the<font style=LETTER-SPACING:1.05pt> </font>Restricted<font style=LETTER-SPACING:1.85pt> </font>Stock<font style=LETTER-SPACING:0.8pt> </font>for<font style=LETTER-SPACING:0.95pt> </font>its<font style=LETTER-SPACING:0.8pt> </font>own<font style=LETTER-SPACING:1.1pt> </font>account,<font style=LETTER-SPACING:1.95pt> </font>for<font style=LETTER-SPACING:0.95pt> </font>investment<font style=LETTER-SPACING:1.15pt> </font>purposes only and not with a view to the distribution of such Restricted Stock. Assignor understands<font style=LETTER-SPACING:1.85pt> </font>that<font style=LETTER-SPACING:1.1pt> </font>the<font style=LETTER-SPACING:0.8pt> </font>Restricted<font style=LETTER-SPACING:1.85pt> </font>Stock<font style=LETTER-SPACING:1.15pt> </font>will<font style=LETTER-SPACING:0.95pt> </font>not<font style=LETTER-SPACING:1.1pt> </font>have<font style=LETTER-SPACING:1pt> </font>been<font style=LETTER-SPACING:1pt> </font>registered<font style=LETTER-SPACING:1.75pt> </font>under<font style=LETTER-SPACING:1.1pt> </font>the<font style=LETTER-SPACING:0.8pt> </font>Securities Act<font style=LETTER-SPACING:0.35pt> </font>of<font style=LETTER-SPACING:0.4pt> </font>1933<font style=LETTER-SPACING:0.8pt> </font>("Securities<font style=LETTER-SPACING:1.2pt> </font>Act"),<font style=LETTER-SPACING:1.25pt> </font>as amended,<font style=LETTER-SPACING:0.6pt> </font>and<font style=LETTER-SPACING:0.25pt> </font>cannot<font style=LETTER-SPACING:0.55pt> </font>be<font style=LETTER-SPACING:0.4pt> </font>sold<font style=LETTER-SPACING:0.35pt> </font>unless<font style=LETTER-SPACING:0.25pt> </font>subsequently registered<font style=LETTER-SPACING:1.75pt> </font>under<font style=LETTER-SPACING:1.35pt> </font>the<font style=LETTER-SPACING:0.55pt> </font>Securities<font style=LETTER-SPACING:2.1pt> </font>Act,<font style=LETTER-SPACING:0.35pt> </font>or<font style=LETTER-SPACING:1pt> </font>an<font style=LETTER-SPACING:0.65pt> </font>exemption<font style=LETTER-SPACING:1.1pt> </font>from<font style=LETTER-SPACING:1.35pt> </font>such<font style=LETTER-SPACING:1.3pt> </font>registration<font style=LETTER-SPACING:1.2pt> </font>is<font style=LETTER-SPACING:0.6pt> </font>available. CTIPAC<font style=LETTER-SPACING:0.55pt> </font>shall<font style=LETTER-SPACING:0.2pt> </font>cause<font style=LETTER-SPACING:0.45pt> </font>CopyTele<font style=LETTER-SPACING:1.3pt> </font>to include<font style=LETTER-SPACING:0.1pt> </font>the<font style=LETTER-SPACING:0.2pt> </font>Restricted<font style=LETTER-SPACING:0.5pt> </font>Stock<font style=LETTER-SPACING:0.7pt> </font>for<font style=LETTER-SPACING:0.05pt> </font>registration<font style=LETTER-SPACING:0.1pt> </font>when CopyTele<font style=LETTER-SPACING:0.95pt> </font>files<font style=LETTER-SPACING:0.45pt> </font>its<font style=LETTER-SPACING:0.2pt> </font>next<font style=LETTER-SPACING:0.35pt> </font>S-1<font style=LETTER-SPACING:0.8pt> </font>or<font style=LETTER-SPACING:0.45pt> </font>S-3<font style=LETTER-SPACING:0.7pt> </font>registration<font style=LETTER-SPACING:0.05pt> </font>statement.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.9pt 0pt 1.6in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Continuing<font style=LETTER-SPACING:1.25pt> </font>Royalty.</u> CTIPAC shall<font style=LETTER-SPACING:2.05pt> </font>pay<font style=LETTER-SPACING:1.95pt> </font>Assignor<font style=LETTER-SPACING:1.9pt> </font>a<font style=LETTER-SPACING:1.65pt> </font>continuing royalty<font style=LETTER-SPACING:2.15pt> </font>equal<font style=LETTER-SPACING:1.95pt> </font>to<font style=LETTER-SPACING:2.05pt> </font>the percentages<font style=LETTER-SPACING:1.8pt> </font>of<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:0.9pt> </font>Net<font style=LETTER-SPACING:1.2pt> </font>Proceeds<font style=LETTER-SPACING:1.75pt> </font>(the<font style=LETTER-SPACING:0.5pt> </font>"Continuing<font style=LETTER-SPACING:2.55pt> </font>Royalty"),<font style=LETTER-SPACING:2.25pt> </font>as<font style=LETTER-SPACING:1.2pt> </font>set<font style=LETTER-SPACING:1.25pt> </font>forth<font style=LETTER-SPACING:1.2pt> </font>in<font style=LETTER-SPACING:0.75pt> </font><u>Section<font style=LETTER-SPACING:1.45pt> </font>3.6</u> below.<font style=LETTER-SPACING:2.55pt> </font>For<font style=LETTER-SPACING:2.05pt> </font>purposes<font style=LETTER-SPACING:2.1pt> </font>of<font style=LETTER-SPACING:1.95pt> </font>calculating the<font style=LETTER-SPACING:1.55pt> </font>Continuing<font style=LETTER-SPACING:2.65pt> </font>Royalty,<font style=LETTER-SPACING:2.45pt> </font>the<font style=LETTER-SPACING:2.3pt> </font>following<font style=LETTER-SPACING:2.2pt> </font>terms<font style=LETTER-SPACING:1.8pt> </font>shall have<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>following<font style=LETTER-SPACING:1.2pt> </font>meanings:</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 2.95pt 0pt 116.25pt; LINE-HEIGHT:103%; TEXT-INDENT:-37.5pt">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt>3.2.1&nbsp;&nbsp;&nbsp; &nbsp;"<u>Net<font style=LETTER-SPACING:1.45pt> </font>Proceeds</u>"<font style=LETTER-SPACING:0.4pt> </font>shall<font style=LETTER-SPACING:0.65pt> </font>mean<font style=LETTER-SPACING:0.75pt> </font>Total<font style=LETTER-SPACING:0.4pt> </font>Recoveries<font style=LETTER-SPACING:0.65pt> </font>less<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.4pt> </font>CTIPAC<font style=LETTER-SPACING:1.45pt> </font>Costs.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.65pt 0in 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"></font>&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.5pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LETTER-SPACING:0.25pt'>3</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>.2.2&nbsp;&nbsp;&nbsp;&nbsp; "<u>Total<font style=LETTER-SPACING:1.85pt> </font>Recoveries</u>"<font style=LETTER-SPACING:1.6pt> </font>shall<font style=LETTER-SPACING:1.3pt> </font>mean<font style=LETTER-SPACING:1.2pt> </font>all<font style=LETTER-SPACING:0.85pt> </font>consideration<font style=LETTER-SPACING:1.3pt> </font>actually<font style=LETTER-SPACING:1.65pt> </font>received<font style=LETTER-SPACING:1.65pt> </font>by<font style=LETTER-SPACING:0.85pt> </font>CTIPAC<font style=LETTER-SPACING:1.35pt> </font>from the<font style=LETTER-SPACING:0.65pt> </font>licensing<font style=LETTER-SPACING:1.3pt> </font>and<font style=LETTER-SPACING:0.85pt> </font>enforcement<font style=LETTER-SPACING:1.55pt> </font>of<font style=LETTER-SPACING:0.75pt> </font>the<font style=LETTER-SPACING:0.6pt> </font>Patents<font style=LETTER-SPACING:1.15pt> </font>from<font style=LETTER-SPACING:0.55pt> </font>companies<font style=LETTER-SPACING:2.25pt> </font>targeted<font style=LETTER-SPACING:1.05pt> </font>by<font style=LETTER-SPACING:0.8pt> </font>CTI<font style=LETTER-SPACING:0.5pt>P</font>AC, including<font style=LETTER-SPACING:1.1pt> </font>all<font style=LETTER-SPACING:0.8pt> </font>proceeds<font style=LETTER-SPACING:1.35pt> </font>and<font style=LETTER-SPACING:1.1pt> </font>recoveries<font style=LETTER-SPACING:1pt> </font>from<font style=LETTER-SPACING:0.95pt> </font>any<font style=LETTER-SPACING:0.85pt> </font>lawsuits,<font style=LETTER-SPACING:0.8pt> </font>settlements,<font style=LETTER-SPACING:1.4pt> </font>covenants<font style=LETTER-SPACING:1.35pt> </font>not to<font style=LETTER-SPACING:0.2pt> </font>sue<font style=LETTER-SPACING:0.7pt> </font>or<font style=LETTER-SPACING:0.55pt> </font>licenses<font style=LETTER-SPACING:0.5pt> </font>involving<font style=LETTER-SPACING:1.25pt> </font>at<font style=LETTER-SPACING:0.25pt> </font>least one<font style=LETTER-SPACING:0.4pt> </font>claim<font style=LETTER-SPACING:0.4pt> </font>of<font style=LETTER-SPACING:0.3pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patents.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.5pt 0pt 137.5pt; LINE-HEIGHT:103%; TEXT-INDENT:-29.4pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 3.1pt 0pt 3in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.2.2.1 Any<font style=LETTER-SPACING:0.45pt> </font>non-monetary<font style=LETTER-SPACING:1.45pt> </font>consideration<font style=LETTER-SPACING:0.95pt> </font>received<font style=LETTER-SPACING:0.1pt> </font>by<font style=LETTER-SPACING:0.45pt> </font>CTIPAC<font style=LETTER-SPACING:1.1pt> </font>as<font style=LETTER-SPACING:0.25pt> </font>part of<font style=LETTER-SPACING:0.1pt> </font>the<font style=LETTER-SPACING:0.05pt> </font>Total Recoveries<font style=LETTER-SPACING:0.8pt> </font>shall<font style=LETTER-SPACING:0.7pt> </font>be<font style=LETTER-SPACING:0.5pt> </font>valued<font style=LETTER-SPACING:0.75pt> </font>at<font style=LETTER-SPACING:0.15pt> </font>its fair<font style=LETTER-SPACING:0.35pt> </font>market<font style=LETTER-SPACING:0.6pt> </font>value,<font style=LETTER-SPACING:0.3pt> </font>and<font style=LETTER-SPACING:0.8pt> </font>the<font style=LETTER-SPACING:0.3pt> </font>Parties<font style=LETTER-SPACING:0.6pt> </font>will<font style=LETTER-SPACING:0.1pt> </font>make<font style=LETTER-SPACING:0.25pt> </font>all reasonable efforts to<font style=LETTER-SPACING:2.55pt> </font>determine the<font style=LETTER-SPACING:2.3pt> </font>appropriate<font style=LETTER-SPACING:2.6pt> </font>methodology for determining such<font style=LETTER-SPACING:0.75pt> </font>fair<font style=LETTER-SPACING:0.4pt> </font>market<font style=LETTER-SPACING:0.65pt> </font>value.</font></p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 3.1pt 0pt 3in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 3.05pt 0pt 3in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.2.2.2 In the event that CTIPAC receives consideration for any patent, in combination<font style=LETTER-SPACING:1.6pt> </font>with<font style=LETTER-SPACING:0.55pt> </font>consideration<font style=LETTER-SPACING:1.6pt> </font>for<font style=LETTER-SPACING:0.7pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patents,<font style=LETTER-SPACING:0.5pt> </font>the<font style=LETTER-SPACING:0.85pt> </font>Parties<font style=LETTER-SPACING:1pt> </font>will<font style=LETTER-SPACING:0.3pt> </font>first<font style=LETTER-SPACING:0.5pt> </font>negotiate<font style=LETTER-SPACING:1.05pt> </font>in good faith to determine a value that will serve as the Total Recoveries ("Attributed Value") for the purposes of calculating Net Proceeds. The Attributed<font style=LETTER-SPACING:2.25pt> </font>Value<font style=LETTER-SPACING:1.9pt> </font>shall<font style=LETTER-SPACING:2pt> </font>be<font style=LETTER-SPACING:1.4pt> </font>based<font style=LETTER-SPACING:1.75pt> </font>on<font style=LETTER-SPACING:1.6pt> </font>the<font style=LETTER-SPACING:1.65pt> </font>relative<font style=LETTER-SPACING:1.65pt> </font>values<font style=LETTER-SPACING:2.35pt> </font>of<font style=LETTER-SPACING:1.7pt> </font>the<font style=LETTER-SPACING:1.55pt> </font>Patents,<font style=LETTER-SPACING:1.65pt> </font>and<font style=LETTER-SPACING:1.5pt> </font>any other<font style=LETTER-SPACING:1.95pt> </font>patents<font style=LETTER-SPACING:1.5pt> </font>for<font style=LETTER-SPACING:1.95pt> </font>which<font style=LETTER-SPACING:1.85pt> </font>CTI<font style=LETTER-SPACING:0.5pt>P</font>AC<font style=LETTER-SPACING:1.55pt> </font>receives<font style=LETTER-SPACING:1.75pt> </font>such<font style=LETTER-SPACING:1.65pt> </font>combined<font style=LETTER-SPACING:2.05pt> </font>consideration.<font style=LETTER-SPACING:2.1pt> </font>If<font style=LETTER-SPACING:1.3pt> </font>the Parties<font style=LETTER-SPACING:0.6pt> </font>are<font style=LETTER-SPACING:0.2pt> </font>unable<font style=LETTER-SPACING:0.9pt> </font>to agree<font style=LETTER-SPACING:0.55pt> </font>as<font style=LETTER-SPACING:0.25pt> </font>to<font style=LETTER-SPACING:0.3pt> </font>the<font style=LETTER-SPACING:0.4pt> </font>Attributed<font style=LETTER-SPACING:0.5pt> </font>Value<font style=LETTER-SPACING:0.7pt> </font>under<font style=LETTER-SPACING:0.8pt> </font>this<font style=LETTER-SPACING:0.2pt> </font>Section<font style=LETTER-SPACING:0.65pt> </font>3.2.2.2, each<font style=LETTER-SPACING:0.45pt> </font>party<font style=LETTER-SPACING:0.4pt> </font>will<font style=LETTER-SPACING:0.45pt> </font>nominate<font style=LETTER-SPACING:0.85pt> </font>one<font style=LETTER-SPACING:0.1pt> </font>independent<font style=LETTER-SPACING:0.45pt> </font>third<font style=LETTER-SPACING:0.3pt> </font>party<font style=LETTER-SPACING:1.05pt> </font>who<font style=LETTER-SPACING:0.3pt> </font>is qualified<font style=LETTER-SPACING:0.65pt> </font>in<font style=LETTER-SPACING:0.2pt> </font>the assessment<font style=LETTER-SPACING:1.9pt> </font>of<font style=LETTER-SPACING:1.65pt> </font>patent<font style=LETTER-SPACING:1.8pt> </font>valuation<font style=LETTER-SPACING:1.9pt> </font>(the<font style=LETTER-SPACING:1.2pt> </font>"Appraisers") for<font style=LETTER-SPACING:1.65pt> </font>the<font style=LETTER-SPACING:1.85pt> </font>purpose<font style=LETTER-SPACING:2pt> </font>of<font style=LETTER-SPACING:1.25pt> </font>assessing the<font style=LETTER-SPACING:2.6pt> </font>relative values<font style=LETTER-SPACING:2.5pt> </font>of the<font style=LETTER-SPACING:2.25pt> </font>Patents<font style=LETTER-SPACING:2.5pt> </font>and<font style=LETTER-SPACING:2.4pt> </font>such<font style=LETTER-SPACING:2.35pt> </font>other patents, and<font style=LETTER-SPACING:2.35pt> </font>the<font style=LETTER-SPACING:2.6pt> </font>Attributed Value. The Appraiser nominated by each respective Party shall make an assessment of<font style=LETTER-SPACING:2.6pt> </font>the<font style=LETTER-SPACING:2.35pt> </font>Attributed<font style=LETTER-SPACING:2.25pt> </font>Value<font style=LETTER-SPACING:2.05pt> </font>and<font style=LETTER-SPACING:2.6pt> </font>submit<font style=LETTER-SPACING:2.55pt> </font>such<font style=LETTER-SPACING:2.1pt> </font>assessment to<font style=LETTER-SPACING:2.25pt> </font>the<font style=LETTER-SPACING:2.25pt> </font>other Party,<font style=LETTER-SPACING:0.45pt> </font>and<font style=LETTER-SPACING:0.65pt> </font>the<font style=LETTER-SPACING:0.5pt> </font>Parties<font style=LETTER-SPACING:0.45pt> </font>will<font style=LETTER-SPACING:0.15pt> </font>then<font style=LETTER-SPACING:0.45pt> </font>negotiate<font style=LETTER-SPACING:0.7pt> </font>in<font style=LETTER-SPACING:0.55pt> </font>good<font style=LETTER-SPACING:0.4pt> </font>faith<font style=LETTER-SPACING:0.45pt> </font>in<font style=LETTER-SPACING:0.25pt> </font>an<font style=LETTER-SPACING:0.2pt> </font>effort<font style=LETTER-SPACING:0.45pt> </font>to agree<font style=LETTER-SPACING:0.55pt> </font>on<font style=LETTER-SPACING:0.55pt> </font>an appropriate<font style=LETTER-SPACING:1.85pt> </font>and<font style=LETTER-SPACING:1.4pt> </font>reasonable<font style=LETTER-SPACING:1.4pt> </font>Attributed<font style=LETTER-SPACING:1.3pt> </font>Value. If<font style=LETTER-SPACING:1.05pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>Parties<font style=LETTER-SPACING:1.1pt> </font>cannot<font style=LETTER-SPACING:1.3pt> </font>agree<font style=LETTER-SPACING:1.35pt> </font>on<font style=LETTER-SPACING:1.3pt> </font>an Attributed<font style=LETTER-SPACING:0.8pt> </font>Value,<font style=LETTER-SPACING:0.5pt> </font>the<font style=LETTER-SPACING:0.45pt> </font>respective<font style=LETTER-SPACING:0.2pt> </font>Appraisers<font style=LETTER-SPACING:0.75pt> </font>shall<font style=LETTER-SPACING:0.3pt> </font>jointly<font style=LETTER-SPACING:0.3pt> </font>nominate<font style=LETTER-SPACING:0.95pt> </font>a third independent, third party appraiser to determine the Attributed Value. Notwithstanding the above, the Attributed Value will in no event be less than fifty percent (50%) of the combined consideration received by CTIPAC.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3.05pt 0pt 137.5pt; LINE-HEIGHT:103%; TEXT-INDENT:-29.4pt">&nbsp;</p></div> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.2.3&nbsp;&nbsp;&nbsp; "Assignor<font style=LETTER-SPACING:1.55pt> </font>Costs"<font style=LETTER-SPACING:0.45pt> </font>shall<font style=LETTER-SPACING:0.6pt> </font>mean<font style=LETTER-SPACING:0.2pt> </font>all costs<font style=LETTER-SPACING:0.25pt> </font>and<font style=LETTER-SPACING:0.5pt> </font>expenses<font style=LETTER-SPACING:0.55pt> </font>incurred<font style=LETTER-SPACING:0.55pt> </font>by<font style=LETTER-SPACING:0.35pt> </font>Assignor<font style=LETTER-SPACING:0.45pt> </font>and/or inventors in cooperating with CTIPAC and responding to any request from CTIPAC in connection with prosecuting, licensing, enforcing or defending the Patents,<font style=LETTER-SPACING:1pt> </font>including<font style=LETTER-SPACING:2.15pt> </font>without<font style=LETTER-SPACING:1.1pt> </font>limitation<font style=LETTER-SPACING:0.85pt> </font>(A)<font style=LETTER-SPACING:1.2pt> </font>reasonable<font style=LETTER-SPACING:1.3pt> </font>fees<font style=LETTER-SPACING:0.9pt> </font>and<font style=LETTER-SPACING:1pt> </font>costs<font style=LETTER-SPACING:1pt> </font>for<font style=LETTER-SPACING:1.15pt> </font>all<font style=LETTER-SPACING:0.95pt> </font>time<font style=LETTER-SPACING:1.05pt> </font>and support<font style=LETTER-SPACING:1.25pt> </font>requested<font style=LETTER-SPACING:1.55pt> </font>by<font style=LETTER-SPACING:0.6pt> </font>CTIPAC<font style=LETTER-SPACING:1.05pt> </font>in<font style=LETTER-SPACING:0.05pt> </font>connection<font style=LETTER-SPACING:1.45pt> </font>with<font style=LETTER-SPACING:0.55pt> </font>preparing<font style=LETTER-SPACING:0.9pt> </font>for<font style=LETTER-SPACING:0.45pt> </font>and/or<font style=LETTER-SPACING:1pt> </font>participating in<font style=LETTER-SPACING:1.75pt> </font>any<font style=LETTER-SPACING:1.75pt> </font>action,<font style=LETTER-SPACING:2.4pt> </font>a<font style=LETTER-SPACING:1.95pt> </font>re-examination<font style=LETTER-SPACING:2.25pt> </font>or<font style=LETTER-SPACING:1.55pt> </font>reissue<font style=LETTER-SPACING:2.1pt> </font>proceeding, prosecuting<font style=LETTER-SPACING:2.2pt> </font>or<font style=LETTER-SPACING:1.85pt> </font>processing any<font style=LETTER-SPACING:0.7pt> </font>U.S.<font style=LETTER-SPACING:0.6pt> </font>or<font style=LETTER-SPACING:0.45pt> </font>foreign<font style=LETTER-SPACING:1.15pt> </font>application<font style=LETTER-SPACING:0.8pt> </font>including<font style=LETTER-SPACING:0.65pt> </font>any<font style=LETTER-SPACING:0.55pt> </font>continuing<font style=LETTER-SPACING:0.55pt> </font>application<font style=LETTER-SPACING:0.7pt> </font>or<font style=LETTER-SPACING:0.5pt> </font>continuation in part application or any other amounts that Assignor or inventors pay in connection with the licensing and enforcement of the Patents; (B) travel and lodging expenses; (C) any<font style=LETTER-SPACING:2.45pt> </font>other<font style=LETTER-SPACING:2.65pt> </font>costs incurred by<font style=LETTER-SPACING:2.55pt> </font>Assignor for<font style=LETTER-SPACING:2.65pt> </font>support of<font style=LETTER-SPACING:2.6pt> </font>any request<font style=LETTER-SPACING:0.85pt> </font>from<font style=LETTER-SPACING:0.9pt> </font>CTIPAC,<font style=LETTER-SPACING:0.85pt> </font>(all<font style=LETTER-SPACING:0.2pt> </font>of the foregoing<font style=LETTER-SPACING:0.5pt> </font>collectively,<font style=LETTER-SPACING:0.65pt> </font>the<font style=LETTER-SPACING:0.1pt> </font>"Assignor<font style=LETTER-SPACING:1.15pt> </font>Costs").</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>3.2.4&nbsp;&nbsp;&nbsp; &nbsp;"<u>CTIPAC<font style=LETTER-SPACING:2.15pt> </font>Costs</u>" shall<font style=LETTER-SPACING:0.55pt> </font>mean<font style=LETTER-SPACING:0.45pt> </font>all commercially<font style=LETTER-SPACING:0.85pt> </font>reasonable<font style=LETTER-SPACING:0.6pt> </font>costs<font style=LETTER-SPACING:0.35pt> </font>and expenses incurred in<font style=LETTER-SPACING:2.4pt> </font>connection with prosecuting, licensing, enforcing or defending the Patents, including without limitation (A) attorneys' and paralegal fees (whether<font style=LETTER-SPACING:2.65pt> </font>on<font style=LETTER-SPACING:2.2pt> </font>an<font style=LETTER-SPACING:2.6pt> </font>hourly<font style=LETTER-SPACING:2.6pt> </font>or<font style=LETTER-SPACING:2.35pt> </font>contingent<font style=LETTER-SPACING:2.55pt> </font>basis<font style=LETTER-SPACING:2.15pt> </font>and<font style=LETTER-SPACING:2.6pt> </font>whether for general<font style=LETTER-SPACING:1.65pt> </font>or<font style=LETTER-SPACING:1.5pt> </font>local<font style=LETTER-SPACING:1.2pt> </font>counsel),<font style=LETTER-SPACING:1.25pt> </font>costs<font style=LETTER-SPACING:1.1pt> </font>and<font style=LETTER-SPACING:1.05pt> </font>disbursements;<font style=LETTER-SPACING:1.45pt> </font>(B)<font style=LETTER-SPACING:0.9pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>fees<font style=LETTER-SPACING:1pt> </font>and<font style=LETTER-SPACING:1.3pt> </font>costs<font style=LETTER-SPACING:1.2pt> </font>of consultants, experts<font style=LETTER-SPACING:1.6pt> </font>or<font style=LETTER-SPACING:1.45pt> </font>technical<font style=LETTER-SPACING:1.6pt> </font>advisors<font style=LETTER-SPACING:1.9pt> </font>(other<font style=LETTER-SPACING:1.6pt> </font>than<font style=LETTER-SPACING:1.75pt> </font>principals<font style=LETTER-SPACING:2.05pt> </font>of<font style=LETTER-SPACING:1.4pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC or its affiliates); (C) travel and lodging expenses; (D) duplicating, stenographer, postage,<font style=LETTER-SPACING:1.45pt> </font>courier<font style=LETTER-SPACING:1.25pt> </font>and<font style=LETTER-SPACING:1.35pt> </font>similar<font style=LETTER-SPACING:1.55pt> </font>expenses;<font style=LETTER-SPACING:1.5pt> </font>(E)<font style=LETTER-SPACING:1.2pt> </font>any<font style=LETTER-SPACING:1.5pt> </font>filing<font style=LETTER-SPACING:1.7pt> </font>fees<font style=LETTER-SPACING:1.55pt> </font>and other<font style=LETTER-SPACING:1.9pt> </font>patent<font style=LETTER-SPACING:1.5pt> </font>office<font style=LETTER-SPACING:1.75pt> </font>fees<font style=LETTER-SPACING:0.9pt> </font>or<font style=LETTER-SPACING:0.95pt> </font>costs<font style=LETTER-SPACING:1.4pt> </font>paid<font style=LETTER-SPACING:1.4pt> </font>by<font style=LETTER-SPACING:1.5pt> </font>CTIPAC;<font style=LETTER-SPACING:1.7pt> </font>(F)<font style=LETTER-SPACING:1.3pt> </font>court<font style=LETTER-SPACING:1.35pt> </font>costs;<font style=LETTER-SPACING:1.3pt> </font>(G)<font style=LETTER-SPACING:1.65pt> </font>legal and<font style=LETTER-SPACING:0.45pt> </font>other<font style=LETTER-SPACING:0.6pt> </font>costs<font style=LETTER-SPACING:0.8pt> </font>paid<font style=LETTER-SPACING:0.25pt> </font>by CTI<font style=LETTER-SPACING:0.25pt>P</font>AC<font style=LETTER-SPACING:0.05pt> </font>related<font style=LETTER-SPACING:0.4pt> </font>to<font style=LETTER-SPACING:0.15pt> </font>any<font style=LETTER-SPACING:0.25pt> </font>re-examination<font style=LETTER-SPACING:0.7pt> </font>or<font style=LETTER-SPACING:0.35pt> </font>reissue proceeding; (H)<font style=LETTER-SPACING:1.9pt> </font>legal<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:1.3pt> </font>other<font style=LETTER-SPACING:1.7pt> </font>costs incurred<font style=LETTER-SPACING:1.9pt> </font>in<font style=LETTER-SPACING:1.5pt> </font>defending<font style=LETTER-SPACING:1.9pt> </font>any<font style=LETTER-SPACING:1.5pt> </font>action<font style=LETTER-SPACING:1.95pt> </font>or counterclaim<font style=LETTER-SPACING:1.9pt> </font>in<font style=LETTER-SPACING:0.35pt> </font>respect<font style=LETTER-SPACING:0.2pt> </font>of<font style=LETTER-SPACING:0.2pt> </font>the<font style=LETTER-SPACING:0.25pt> </font>Patents<font style=LETTER-SPACING:0.6pt> </font>and (I)<font style=LETTER-SPACING:0.65pt> </font>legal<font style=LETTER-SPACING:0.4pt> </font>and<font style=LETTER-SPACING:0.3pt> </font>other<font style=LETTER-SPACING:0.45pt> </font>costs<font style=LETTER-SPACING:0.45pt> </font>in prosecuting<font style=LETTER-SPACING:2.25pt> </font>or<font style=LETTER-SPACING:1.35pt> </font>processing<font style=LETTER-SPACING:1.45pt> </font>any<font style=LETTER-SPACING:1.35pt> </font>U.S.<font style=LETTER-SPACING:1.5pt> </font>or<font style=LETTER-SPACING:1.4pt> </font>foreign<font style=LETTER-SPACING:1.15pt> </font>application<font style=LETTER-SPACING:1.85pt> </font>paid<font style=LETTER-SPACING:1.2pt> </font>by<font style=LETTER-SPACING:1.35pt> </font>CTIPAC, including without<font style=LETTER-SPACING:2.6pt> </font>limitation,<font style=LETTER-SPACING:2.5pt> </font>any<font style=LETTER-SPACING:1.95pt> </font>continuing<font style=LETTER-SPACING:2.7pt> </font>application<font style=LETTER-SPACING:2.35pt> </font>or<font style=LETTER-SPACING:2.15pt> </font>continuation in part<font style=LETTER-SPACING:1.55pt> </font>application;<font style=LETTER-SPACING:2.1pt> </font>(J)<font style=LETTER-SPACING:1.55pt> </font>sanctions,<font style=LETTER-SPACING:1.5pt> </font>opposing<font style=LETTER-SPACING:2pt> </font>counsel<font style=LETTER-SPACING:1.45pt> </font>fees,<font style=LETTER-SPACING:1.5pt> </font>or<font style=LETTER-SPACING:1.45pt> </font>any<font style=LETTER-SPACING:1.5pt> </font>other<font style=LETTER-SPACING:1.45pt> </font>amounts that<font style=LETTER-SPACING:0.3pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC<font style=LETTER-SPACING:0.5pt> </font>is<font style=LETTER-SPACING:0.1pt> </font>required<font style=LETTER-SPACING:0.3pt> </font>to pay<font style=LETTER-SPACING:0.25pt> </font>in<font style=LETTER-SPACING:0.05pt> </font>connection<font style=LETTER-SPACING:0.75pt> </font>with<font style=LETTER-SPACING:0.2pt> </font>the<font style=LETTER-SPACING:0.15pt> </font>licensing<font style=LETTER-SPACING:0.65pt> </font>and enforcement<font style=LETTER-SPACING:1.8pt> </font>of<font style=LETTER-SPACING:0.45pt> </font>the<font style=LETTER-SPACING:0.55pt> </font>Patents provided<font style=LETTER-SPACING:0.65pt> </font>that<font style=LETTER-SPACING:0.4pt> </font>in<font style=LETTER-SPACING:0.5pt> </font>the event<font style=LETTER-SPACING:0.65pt> </font>of<font style=LETTER-SPACING:0.35pt> </font>CTIPAC's<font style=LETTER-SPACING:2.6pt> </font>gross negligence,<font style=LETTER-SPACING:1.65pt> </font>reckless<font style=LETTER-SPACING:1.2pt> </font>or<font style=LETTER-SPACING:1pt> </font>intentional<font style=LETTER-SPACING:1.2pt> </font>conduct<font style=LETTER-SPACING:1.35pt> </font>,such<font style=LETTER-SPACING:1.15pt> </font>amounts<font style=LETTER-SPACING:0.95pt> </font>deducted<font style=LETTER-SPACING:1.6pt> </font>pursuant to<font style=LETTER-SPACING:0.8pt> </font>this<font style=LETTER-SPACING:1.05pt> </font>subsection<font style=LETTER-SPACING:1.3pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:103%'>"J"<font style=LETTER-SPACING:1.25pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>shall<font style=LETTER-SPACING:0.65pt> </font>be<font style=LETTER-SPACING:1pt> </font>limited<font style=LETTER-SPACING:1.05pt> </font>to<font style=LETTER-SPACING:1pt> </font>Five<font style=LETTER-SPACING:0.5pt> </font>Thousand<font style=LETTER-SPACING:1.4pt> </font>Dollars<font style=LETTER-SPACING:1.05pt> </font>($5,000)<font style=LETTER-SPACING:1.55pt> </font>for all licensing and enforcement of the Patents during the Term; (K) the Assignor<font style=LETTER-SPACING:1.35pt> </font>Costs;<font style=LETTER-SPACING:0.8pt> </font>(L)<font style=LETTER-SPACING:0.55pt> </font>any<font style=LETTER-SPACING:0.3pt> </font>consulting<font style=LETTER-SPACING:0.7pt> </font>fees<font style=LETTER-SPACING:0.95pt> </font>associated<font style=LETTER-SPACING:1.05pt> </font>with<font style=LETTER-SPACING:0.7pt> </font>hiring<font style=LETTER-SPACING:0.5pt> </font>of lnventors ( all<font style=LETTER-SPACING:0.4pt> </font>of<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.4pt> </font>foregoing<font style=LETTER-SPACING:1.05pt> </font>collectively,<font style=LETTER-SPACING:0.6pt> </font>the "CTIPAC<font style=LETTER-SPACING:1.75pt> </font>Costs"). In<font style=LETTER-SPACING:0.45pt> </font>no<font style=LETTER-SPACING:0.3pt> </font>event<font style=LETTER-SPACING:0.7pt> </font>will CITI<font style=LETTER-SPACING:0.25pt>P</font>AC<font style=LETTER-SPACING:2.2pt> </font>Costs<font style=LETTER-SPACING:2.1pt> </font>include<font style=LETTER-SPACING:1.1pt> </font>any<font style=LETTER-SPACING:1.5pt> </font>costs<font style=LETTER-SPACING:1.4pt> </font>or<font style=LETTER-SPACING:1.4pt> </font>expenses<font style=LETTER-SPACING:1.45pt> </font>incurred<font style=LETTER-SPACING:1.8pt> </font>by<font style=LETTER-SPACING:1.5pt> </font>CTIPAC<font style=LETTER-SPACING:1.7pt> </font>as<font style=LETTER-SPACING:1.5pt> </font>part of the ordinary course of business that are not incurred specifically for purposes<font style=LETTER-SPACING:0.75pt> </font>of<font style=LETTER-SPACING:0.55pt> </font>prosecuting,<font style=LETTER-SPACING:0.65pt> </font>licensing,<font style=LETTER-SPACING:0.5pt> </font>enforcing<font style=LETTER-SPACING:0.9pt> </font>or<font style=LETTER-SPACING:0.25pt> </font>defending<font style=LETTER-SPACING:0.95pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patents. </font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3pt 0pt 136.3pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.85pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="TEXT-ALIGN:justify; MARGIN:0in 3pt 0pt 0in; LINE-HEIGHT:103%">&nbsp;</p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3pt 0pt 136.3pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.85pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Continuing Royalty Calculation</u>. Total Recoveries shall be applied in the following order of priority: first to CTIPAC in an amount equal to all then outstanding CTIPAC Costs, then to CTIPAC and Assignor in proportion to the respective shares of the Net Proceeds set forth in <u>Section 3.6</u> below. Notwithstanding the foregoing, as Total Recoveries are received, a portion of each recovery (not to exceed 5% of Net Proceeds of any single recovery) may be reserved by CTIPAC and placed in a reserve account to be used for future CTIPAC Costs, until such time as the balance in the reserve account is and is replenished to be One Million Dollars ($1,000,000). Upon the first of either the conclusion of CTIPAC's licensing and enforcement efforts and the payment of all CTIPAC Costs or after having Total Recoveries exceeding Ten Million Dollars ($10,000,000), CTIPAC will promptly terminate the reserve account, distribute any remaining balance of the reserve account in the manner set forth in <u>Section 3.8</u> below, and no longer reserve any part of the Net Proceeds for a reserve account.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><u>Purchase Amount and<font style=LETTER-SPACING:2.25pt> </font>Due<font style=LETTER-SPACING:1.85pt> </font>Date.</u></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'> On the<font style=LETTER-SPACING:2.1pt> </font>fourth anniversary of the Effective Date (the "Purchase<font style=LETTER-SPACING:0.9pt> </font>Due Date"), CTIPAC (or<font style=LETTER-SPACING:1.45pt> </font>CTIPAC's designated<font style=LETTER-SPACING:1.3pt> </font>Affiliate)<font style=LETTER-SPACING:1.85pt> </font>shall pay Assignor,<font style=LETTER-SPACING:2.5pt> </font>either in cash or in Stock of CopyTele the sum of Five Million Dollars<font style=LETTER-SPACING:2.25pt> </font>($5,000,000)<font style=LETTER-SPACING:1.5pt> </font>(the "Purchase<font style=LETTER-SPACING:1.6pt> </font>Amount"),<font style=LETTER-SPACING:1.85pt> </font>less (i) the<font style=LETTER-SPACING:2.75pt> </font>aggregate<font style=LETTER-SPACING:2.05pt> </font>amount of any<font style=LETTER-SPACING:1.75pt> </font>Net<font style=LETTER-SPACING:1.85pt> </font>Proceeds that have been paid by CTIPAC (or CTIPAC's designated Affiliate)<font style=LETTER-SPACING:0.65pt> </font>to<font style=LETTER-SPACING:1.8pt> </font>Assignor<font style=LETTER-SPACING:0.8pt> </font>and<font style=LETTER-SPACING:2.25pt> </font>(ii)<font style=LETTER-SPACING:2.35pt> </font>the<font style=LETTER-SPACING:2.1pt> </font>value of<font style=LETTER-SPACING:1.7pt> </font>the Restricted<font style=LETTER-SPACING:0.45pt> </font>Shares at<font style=LETTER-SPACING:1.7pt> </font>the<font style=LETTER-SPACING:2.1pt> </font>time<font style=LETTER-SPACING:2.65pt> </font>of<font style=LETTER-SPACING:1.5pt> </font>the Effective Date, which<font style=LETTER-SPACING:1.05pt> </font>value<font style=LETTER-SPACING:0.25pt> </font>shall<font style=LETTER-SPACING:0.4pt> </font>be based<font style=LETTER-SPACING:0.6pt> </font>upon<font style=LETTER-SPACING:0.55pt> </font>the<font style=LETTER-SPACING:2.35pt> </font>volume weighted<font style=LETTER-SPACING:1.2pt> </font>average of the<font style=LETTER-SPACING:1.8pt> </font>closing prices of<font style=LETTER-SPACING:1.95pt> </font>the<font style=LETTER-SPACING:2pt> </font>Stock for<font style=LETTER-SPACING:2.15pt> </font>the<font style=LETTER-SPACING:2.1pt> </font>thirty (30) day<font style=LETTER-SPACING:2.05pt> </font>period prior<font style=LETTER-SPACING:0.45pt> </font>to<font style=LETTER-SPACING:1.85pt> </font>the Effective Date (the difference<font style=LETTER-SPACING:2.9pt> </font>between the Purchase Amount and the aggregate<font style=LETTER-SPACING:2.75pt> </font>of the amount of any Net Proceeds<font style=LETTER-SPACING:2.6pt> </font>paid to Assignor<font style=LETTER-SPACING:2.7pt> </font>and the value of the Restricted Shares, shall hereafter referred to as the "Purchase<font style=LETTER-SPACING:1.85pt> </font>Amount Deficit"). Notwithstanding<font style=LETTER-SPACING:1pt> </font>the foregoing,<font style=LETTER-SPACING:1.4pt> </font>in<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:2.25pt> </font>event that one<font style=LETTER-SPACING:2.1pt> </font>or<font style=LETTER-SPACING:1.95pt> </font>more<font style=LETTER-SPACING:0.1pt> </font>patent infringement lawsuits regarding<font style=LETTER-SPACING:1.7pt> </font>any<font style=LETTER-SPACING:2.6pt> </font>of<font style=LETTER-SPACING:2.2pt> </font>the<font style=LETTER-SPACING:2.5pt> </font>Patents have been or<font style=LETTER-SPACING:1.95pt> </font>are<font style=LETTER-SPACING:2.2pt> </font>stayed because of<font style=LETTER-SPACING:2.15pt> </font>any re&shy; exam<font style=LETTER-SPACING:1.45pt> </font>or<font style=LETTER-SPACING:0.7pt> </font>similar proceeding<font style=LETTER-SPACING:0.2pt> </font>in<font style=LETTER-SPACING:0.45pt> </font>the<font style=LETTER-SPACING:1.3pt> </font>United<font style=LETTER-SPACING:2.65pt> </font>States<font style=LETTER-SPACING:0.05pt> </font>Patent<font style=LETTER-SPACING:2pt> </font>and<font style=LETTER-SPACING:1.25pt> </font>Trademark Office ("USPTO"),<font style=LETTER-SPACING:1.65pt> </font>the Purchase<font style=LETTER-SPACING:1.75pt> </font>Due Date shall be<font style=LETTER-SPACING:2.55pt> </font>extended<font style=LETTER-SPACING:2.35pt> </font>by<font style=LETTER-SPACING:2.6pt> </font>the number of<font style=LETTER-SPACING:2.45pt> </font>days of any<font style=LETTER-SPACING:2.6pt> </font>such stay or<font style=LETTER-SPACING:2.55pt> </font>stays (a<font style=LETTER-SPACING:2.1pt> </font>"Reexam Extension")<font style=LETTER-SPACING:1.8pt> </font>but<font style=LETTER-SPACING:2.65pt> </font>in<font style=LETTER-SPACING:2.55pt> </font>no<font style=LETTER-SPACING:2.2pt> </font>circumstances<font style=LETTER-SPACING:2.1pt> </font>will the Purchase Due Date be extended<font style=LETTER-SPACING:2.4pt> </font>under this Section<font style=LETTER-SPACING:2.65pt> </font>to<font style=LETTER-SPACING:2.7pt> </font>be<font style=LETTER-SPACING:2.65pt> </font>later than seventy-two (72)<font style=LETTER-SPACING:2.65pt> </font>months from the<font style=LETTER-SPACING:2.45pt> </font>Effective<font style=LETTER-SPACING:1.05pt> </font>Date. In<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:2.25pt> </font>event that<font style=LETTER-SPACING:2.3pt> </font>CTIP<font style=LETTER-SPACING:-0.55pt> </font>AC<font style=LETTER-SPACING:1.9pt> </font>elects to<font style=LETTER-SPACING:2pt> </font>pay<font style=LETTER-SPACING:2.4pt> </font>the Purchase Amount Deficit in<font style=LETTER-SPACING:1.7pt> </font>Stock of<font style=LETTER-SPACING:1.65pt> </font>Copytele,<font style=LETTER-SPACING:0.95pt> </font>such<font style=LETTER-SPACING:2.2pt> </font>stock shall be<font style=LETTER-SPACING:1.8pt> </font>registered<font style=LETTER-SPACING:1.7pt> </font>and immediately<font style=LETTER-SPACING:2.6pt> </font>saleable<font style=LETTER-SPACING:0.85pt> </font>by Assignor at the time of such payment and the value given to such stock shall be Ninety percent (90%) of the weighted average closing prices for<font style=LETTER-SPACING:2.2pt> </font>the<font style=LETTER-SPACING:1.9pt> </font>stock<font style=LETTER-SPACING:2.65pt> </font>for<font style=LETTER-SPACING:2.15pt> </font>the<font style=LETTER-SPACING:1.85pt> </font>prior<font style=LETTER-SPACING:2.6pt> </font>thirty (30)<font style=LETTER-SPACING:2.4pt> </font>day<font style=LETTER-SPACING:1.75pt> </font>period.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 0pt 0pt 1.6in; LINE-HEIGHT:103%; PADDING-RIGHT:0px; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3<font style=LETTER-SPACING:0.25pt>.</font>5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<u>Prepayment<font style=LETTER-SPACING:0.5pt> </font>of<font style=LETTER-SPACING:1.7pt> </font>the<font style=LETTER-SPACING:2pt> </font>Purchase<font style=LETTER-SPACING:2pt> </font>Amount</u>. At any time prior to the Purchase Due Date, upon ninety (90) days written notice by CTIPAC to Assignor, CTIPAC (or CTIPAC's designated Affiliate) may elect to pre-pay the Purchase Amount Deficit, either in cash or Stock of Copytele, or a combination of cash and stock.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Division of Net Proceeds.</u> Net Proceeds shall be shared equally between CTIPAC and Assignor.Notwithstanding the foregoing,in the event that CTIPAC elects toprepay the Purchase Deficit Amount (i)within twenty-one(21) months from the Effective Date (or such longer period if<font style=LETTER-SPACING:2.6pt> </font>extended due to<font style=LETTER-SPACING:2.7pt> </font>any Reexam Extension)<font style=LETTER-SPACING:1pt> </font>and<font style=LETTER-SPACING:2.25pt> </font>(ii)<font style=LETTER-SPACING:2.7pt> </font>such<font style=LETTER-SPACING:2.7pt> </font>prepayment<font style=LETTER-SPACING:0.8pt> </font>is<font style=LETTER-SPACING:1.4pt> </font>made<font style=LETTER-SPACING:2.55pt> </font>at<font style=LETTER-SPACING:1.4pt> </font>a<font style=LETTER-SPACING:1.2pt> </font>time<font style=LETTER-SPACING:2.3pt> </font>when<font style=LETTER-SPACING:2.4pt> </font>the<font style=LETTER-SPACING:2pt> </font>Purchase<font style=LETTER-SPACING:1.1pt> </font>Amount Deficit plus the value of the Restricted Stock on the Effective<font style=LETTER-SPACING:2.7pt> </font>Date equals or <font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>exceeds. Three Million Dollars ($3,000,000), the division of Net Proceeds</font> thereafter shall be Eighty Percent (80%) to CTIPAC and Twenty Percent (20%) to Assignor for the next Eight Million Dollars ($8,000,000) of Net Proceeds distributed after the date of such prepayment. After the distribution of such Eight Million Dollars ($8,000,000) of Net Proceeds, any future Net Proceeds shall be shared equally between CTIP AC and Assignor.</font></p> <p style="MARGIN:0in 3pt 0pt 136.3pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.85pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>5 </font></p><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div style=TEXT-ALIGN:center align=center>&nbsp;</div> <div style=TEXT-ALIGN:center align=center></font>&nbsp;</div></div> <div> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in" align=justify><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Taxes.</u> All Taxes (as defined below) shall be the financial responsibility of the Party obligated to pay such Taxes as determined by the applicable law and neither Party is or shall be liable at any time for any of the other Party's Taxes incurred in connection with or related to amounts paid under this Agreement. The term "Taxes" shall mean any federal, state, local, municipal, foreign, or other governmental taxes, duties, levies, fees, excises or tariffs, arising as a result of or in connection with any amounts paid under this Agreement, including without limitation, any import, value added or consumption tax. If Taxes are required to be withheld on any amounts otherwise to be paid by one Party to the other, the paying Party shall deduct and set off such Taxes from the amount otherwise due and owed to the receiving Party and pay them to the appropriate taxing authority.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><u>Continuing Royalty Payments</u></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>. The Continuing Royalties payable to Assignor shall be due within thirty (30) days after the end of each calendar quarter in which there are Net Proceeds. CTIPAC will provide Assignor with a report of Total Recoveries and CTIPAC Costs in connection with the Patents for each such quarter. Assignor shall have the right to audit such reports in accordance with <u>Section 5.2</u> below.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>3<font style=LETTER-SPACING:0.45pt>.</font>9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment of the Assignor Costs. CTIPAC shall reimburse Assignor for any of the Assignor Costs paid by Assignor within 60 days of such costs being identified to CTIPAC.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3pt 0pt 136.3pt; LINE-HEIGHT:103%; TEXT-INDENT:-28.85pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:115%'><br clear=all style=PAGE-BREAK-BEFORE:auto><font style=FONT-SIZE:11pt>&nbsp;</font></p></font></div> <div> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>4</strong> <b><u>REPRESENTATIONS AND WARRANTIES</u></b></font></font></font></font></font></p> <p style="MARGIN:0.4pt 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assignor<font style=LETTER-SPACING:0.15pt> </font>represents<font style=LETTER-SPACING:1.35pt> </font>and<font style=LETTER-SPACING:0.9pt> </font>warrants<font style=LETTER-SPACING:0.4pt> </font>to<font style=LETTER-SPACING:0.25pt> </font>CTIPAC<font style=LETTER-SPACING:0.5pt> </font>that,<font style=LETTER-SPACING:0.15pt> </font>as<font style=LETTER-SPACING:0.45pt> </font>of<font style=LETTER-SPACING:0.2pt> </font>the<font style=LETTER-SPACING:0.15pt> </font>date<font style=LETTER-SPACING:0.2pt> </font>hereof:</font></p> <p style="MARGIN:0in -1pt 0pt 79.65pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.75pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.1&nbsp;&nbsp;&nbsp;&nbsp; Assignor<font style=LETTER-SPACING:1.4pt> </font>is<font style=LETTER-SPACING:0.55pt> </font>the<font style=LETTER-SPACING:0.2pt> </font>sole<font style=LETTER-SPACING:0.45pt> </font>owner<font style=LETTER-SPACING:0.8pt> </font>of<font style=LETTER-SPACING:0.3pt> </font>the<font style=LETTER-SPACING:0.55pt> </font>Patents<font style=LETTER-SPACING:0.55pt> </font>and<font style=LETTER-SPACING:0.45pt> </font>has<font style=LETTER-SPACING:0.25pt> </font>all<font style=LETTER-SPACING:0.5pt> </font>right,<font style=LETTER-SPACING:0.6pt> </font>title,<font style=LETTER-SPACING:0.55pt> </font>claims,<font style=LETTER-SPACING:0.8pt> </font>interest and privileges arising from such ownership, free and clear of any liens, security<font style=LETTER-SPACING:1.3pt> </font>interests,<font style=LETTER-SPACING:0.6pt> </font>encumbrances,<font style=LETTER-SPACING:0.85pt> </font>rights<font style=LETTER-SPACING:0.25pt> </font>or<font style=LETTER-SPACING:0.55pt> </font>restrictions<font style=LETTER-SPACING:0.35pt> </font>of<font style=LETTER-SPACING:0.25pt> </font>any<font style=LETTER-SPACING:0.35pt> </font>kind<font style=LETTER-SPACING:0.3pt> </font>or<font style=LETTER-SPACING:0.55pt> </font>nature;</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.15pt 0in 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 4.05pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.2&nbsp;&nbsp;&nbsp;&nbsp; The<font style=LETTER-SPACING:0.95pt> </font>identity<font style=LETTER-SPACING:0.85pt> </font>of<font style=LETTER-SPACING:0.6pt> </font>all<font style=LETTER-SPACING:0.5pt> </font>inventors<font style=LETTER-SPACING:0.65pt> </font>of<font style=LETTER-SPACING:0.55pt> </font>the<font style=LETTER-SPACING:0.45pt> </font>inventions<font style=LETTER-SPACING:1.05pt> </font>described<font style=LETTER-SPACING:0.35pt> </font>in<font style=LETTER-SPACING:0.6pt> </font>the<font style=LETTER-SPACING:0.85pt> </font>Patents<font style=LETTER-SPACING:0.95pt> </font>has<font style=LETTER-SPACING:0.45pt> </font>been fully<font style=LETTER-SPACING:0.65pt> </font>disclosed<font style=LETTER-SPACING:1.15pt> </font>to<font style=LETTER-SPACING:0.3pt> </font>the<font style=LETTER-SPACING:0.25pt> </font>USPTO<font style=LETTER-SPACING:0.35pt> </font>as<font style=LETTER-SPACING:0.25pt> </font>required<font style=LETTER-SPACING:0.8pt> </font>by<font style=LETTER-SPACING:0.15pt> </font>U.S.<font style=LETTER-SPACING:0.95pt> </font>law;</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 4.05pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 4.05pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.3&nbsp;&nbsp;&nbsp;&nbsp; The<font style=LETTER-SPACING:1.55pt> </font>Patents<font style=LETTER-SPACING:1.05pt> </font>and<font style=LETTER-SPACING:1.55pt> </font>the<font style=LETTER-SPACING:0.7pt> </font>inventions<font style=LETTER-SPACING:1.1pt> </font>described<font style=LETTER-SPACING:1.7pt> </font>in<font style=LETTER-SPACING:1.05pt> </font>the<font style=LETTER-SPACING:1.1pt> </font>Patents<font style=LETTER-SPACING:1.4pt> </font>are<font style=LETTER-SPACING:1pt> </font>(i)<font style=LETTER-SPACING:1.05pt> </font>not<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:0.8pt> </font>product or<font style=LETTER-SPACING:1.05pt> </font>subject<font style=LETTER-SPACING:1.1pt> </font>of<font style=LETTER-SPACING:0.6pt> </font>any<font style=LETTER-SPACING:0.95pt> </font>joint<font style=LETTER-SPACING:0.7pt> </font>development<font style=LETTER-SPACING:0.8pt> </font>activity<font style=LETTER-SPACING:1.1pt> </font>or<font style=LETTER-SPACING:0.5pt> </font>agreement<font style=LETTER-SPACING:1.2pt> </font>with<font style=LETTER-SPACING:0.85pt> </font>any<font style=LETTER-SPACING:1.2pt> </font>third<font style=LETTER-SPACING:0.75pt> </font>party; (ii)<font style=LETTER-SPACING:1.55pt> </font>not<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:1.15pt> </font>subject<font style=LETTER-SPACING:1.55pt> </font>of<font style=LETTER-SPACING:1.2pt> </font>any<font style=LETTER-SPACING:1pt> </font>consortia<font style=LETTER-SPACING:1.7pt> </font>agreement<font style=LETTER-SPACING:1.4pt> </font>or<font style=LETTER-SPACING:1.4pt> </font>cross-license;<font style=LETTER-SPACING:2.1pt> </font>and<font style=LETTER-SPACING:1.5pt> </font>(iii)<font style=LETTER-SPACING:1.55pt> </font>have not<font style=LETTER-SPACING:0.65pt> </font>been<font style=LETTER-SPACING:0.6pt> </font>financed<font style=LETTER-SPACING:0.75pt> </font>in<font style=LETTER-SPACING:0.15pt> </font>whole<font style=LETTER-SPACING:0.4pt> </font>or<font style=LETTER-SPACING:0.3pt> </font>in<font style=LETTER-SPACING:0.25pt> </font>part<font style=LETTER-SPACING:0.2pt> </font>by<font style=LETTER-SPACING:0.3pt> </font>any<font style=LETTER-SPACING:0.35pt> </font>third<font style=LETTER-SPACING:0.25pt> </font>party;</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 4.05pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 4.05pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.4&nbsp;&nbsp;&nbsp;&nbsp; The<font style=LETTER-SPACING:0.6pt> </font>Patents<font style=LETTER-SPACING:1.05pt> </font>remain<font style=LETTER-SPACING:0.55pt> </font>in<font style=LETTER-SPACING:0.3pt> </font>full<font style=LETTER-SPACING:-0.05pt> </font>force<font style=LETTER-SPACING:0.6pt> </font>and<font style=LETTER-SPACING:0.3pt> </font>effect<font style=LETTER-SPACING:0.75pt> </font>as of<font style=LETTER-SPACING:0.25pt> </font>the<font style=LETTER-SPACING:0.3pt> </font>Effective<font style=LETTER-SPACING:1.15pt> </font>Date;</font></p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>6 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:3.3pt 3.3pt 0pt 2.5in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.5&nbsp;&nbsp;&nbsp;&nbsp; The Patents have not been assigned, licensed, cross-licensed, granted covenants<font style=LETTER-SPACING:2.1pt> </font>not<font style=LETTER-SPACING:0.75pt> </font>to<font style=LETTER-SPACING:0.6pt> </font>sue,<font style=LETTER-SPACING:0.9pt> </font>transferred<font style=LETTER-SPACING:1.05pt> </font>or<font style=LETTER-SPACING:0.95pt> </font>otherwise<font style=LETTER-SPACING:1.1pt> </font>conveyed<font style=LETTER-SPACING:1.25pt> </font>to<font style=LETTER-SPACING:0.5pt> </font>any<font style=LETTER-SPACING:0.95pt> </font>other<font style=LETTER-SPACING:1.4pt> </font>person<font style=LETTER-SPACING:0.4pt> </font>or entity<font style=LETTER-SPACING:0.9pt> </font>any;</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.8pt 0in 0pt 2.5in; LINE-HEIGHT:12pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.8pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.6&nbsp;&nbsp;&nbsp;&nbsp; <u>Exhibit<font style=LETTER-SPACING:1.25pt> </font>A</u><font style=LETTER-SPACING:0.5pt> </font>includes<font style=LETTER-SPACING:0.95pt> </font>all<font style=LETTER-SPACING:0.4pt> </font>patents,<font style=LETTER-SPACING:0.55pt> </font>patent<font style=LETTER-SPACING:0.8pt> </font>applications,<font style=LETTER-SPACING:0.45pt> </font>foreign<font style=LETTER-SPACING:0.75pt> </font>counterparts,<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:0.05pt> </font>all continuations, continuations<font style=LETTER-SPACING:2.6pt> </font>in<font style=LETTER-SPACING:2.15pt> </font>part,<font style=LETTER-SPACING:2.25pt> </font>divisions,<font style=LETTER-SPACING:2.4pt> </font>extensions,<font style=LETTER-SPACING:2.15pt> </font>renewals, reissues and<font style=LETTER-SPACING:0.65pt> </font>re-examinations,<font style=LETTER-SPACING:1.65pt> </font>which<font style=LETTER-SPACING:0.2pt> </font>are<font style=LETTER-SPACING:0.4pt> </font>in<font style=LETTER-SPACING:0.1pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>same<font style=LETTER-SPACING:1pt> </font>patent<font style=LETTER-SPACING:-0.05pt> </font>family<font style=LETTER-SPACING:0.15pt> </font>as<font style=LETTER-SPACING:0.15pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>Patent;</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.9pt 0in 0pt 2.5in; LINE-HEIGHT:12pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.3pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.7&nbsp;&nbsp;&nbsp;&nbsp; All<font style=LETTER-SPACING:0.4pt> </font>maintenance<font style=LETTER-SPACING:1.5pt> </font>and<font style=LETTER-SPACING:0.5pt> </font>prosecution<font style=LETTER-SPACING:1.15pt> </font>fees<font style=LETTER-SPACING:0.45pt> </font>that<font style=LETTER-SPACING:0.7pt> </font>have<font style=LETTER-SPACING:0.35pt> </font>become<font style=LETTER-SPACING:0.8pt> </font>due<font style=LETTER-SPACING:0.45pt> </font>with<font style=LETTER-SPACING:0.9pt> </font>respect<font style=LETTER-SPACING:0.65pt> </font>to<font style=LETTER-SPACING:0.35pt> </font>the Patents<font style=LETTER-SPACING:1.75pt> </font>have<font style=LETTER-SPACING:1.35pt> </font>been<font style=LETTER-SPACING:1.3pt> </font>paid<font style=LETTER-SPACING:0.85pt> </font>in<font style=LETTER-SPACING:0.95pt> </font>full<font style=LETTER-SPACING:1pt> </font>at<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>appropriate<font style=LETTER-SPACING:1.4pt> </font>small<font style=LETTER-SPACING:0.95pt> </font>or<font style=LETTER-SPACING:1.2pt> </font>large<font style=LETTER-SPACING:1.25pt> </font>entity<font style=LETTER-SPACING:1.35pt> </font>fee<font style=LETTER-SPACING:0.9pt> </font>rate, or<font style=LETTER-SPACING:0.55pt> </font>will<font style=LETTER-SPACING:0.5pt> </font>be<font style=LETTER-SPACING:0.4pt> </font>paid<font style=LETTER-SPACING:0.55pt> </font>in<font style=LETTER-SPACING:0.25pt> </font>full<font style=LETTER-SPACING:0.35pt> </font>within<font style=LETTER-SPACING:0.2pt> </font>three<font style=LETTER-SPACING:0.5pt> </font>(3)<font style=LETTER-SPACING:0.5pt> </font>days<font style=LETTER-SPACING:0.65pt> </font>following<font style=LETTER-SPACING:-0.2pt> </font>the<font style=LETTER-SPACING:0.55pt> </font>Effective<font style=LETTER-SPACING:1.1pt> </font>Date.</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.3pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.85pt 0pt 2.5in; LINE-HEIGHT:101%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.8&nbsp;&nbsp;&nbsp;&nbsp; None<font style=LETTER-SPACING:1.5pt> </font>of<font style=LETTER-SPACING:1.15pt> </font>the<font style=LETTER-SPACING:1.05pt> </font>Patents<font style=LETTER-SPACING:1.2pt> </font>have<font style=LETTER-SPACING:0.8pt> </font>been<font style=LETTER-SPACING:0.95pt> </font>subject<font style=LETTER-SPACING:1.35pt> </font>to<font style=LETTER-SPACING:1pt> </font>any<font style=LETTER-SPACING:0.6pt> </font>action<font style=LETTER-SPACING:0.95pt> </font>or<font style=LETTER-SPACING:1.15pt> </font>proceeding<font style=LETTER-SPACING:1.75pt> </font>concerning the<font style=LETTER-SPACING:0.7pt> </font>Patents'<font style=LETTER-SPACING:1.65pt> </font>validity,<font style=LETTER-SPACING:0.8pt> </font>enforceability,<font style=LETTER-SPACING:0.8pt> </font>inventorship,<font style=LETTER-SPACING:1.1pt> </font>or<font style=LETTER-SPACING:0.2pt> </font>ownership;</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.85pt 0pt 2.5in; LINE-HEIGHT:101%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.9&nbsp;&nbsp;&nbsp;&nbsp; Assignor has<font style=LETTER-SPACING:1.85pt> </font>complied<font style=LETTER-SPACING:2.65pt> </font>with<font style=LETTER-SPACING:1.9pt> </font>its<font style=LETTER-SPACING:2.05pt> </font>duty<font style=LETTER-SPACING:2.05pt> </font>to<font style=LETTER-SPACING:2.25pt> </font>disclose<font style=LETTER-SPACING:1.8pt> </font>all<font style=LETTER-SPACING:1.95pt> </font>known<font style=LETTER-SPACING:2.5pt> </font>references to<font style=LETTER-SPACING:1.5pt> </font>the USPTO that may constitute prior art to one or more of the Patents;</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 2.5in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in" align=justify><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.10&nbsp; &nbsp;Neither<font style=LETTER-SPACING:0.8pt> </font>Assignor<font style=LETTER-SPACING:0.95pt> </font>nor<font style=LETTER-SPACING:0.35pt> </font>the<font style=LETTER-SPACING:0.05pt> </font>Inventors<font style=LETTER-SPACING:1pt> </font>have<font style=LETTER-SPACING:0.7pt> </font>any<font style=LETTER-SPACING:-0.15pt> </font>knowledge<font style=LETTER-SPACING:0.4pt> </font>of<font style=LETTER-SPACING:0.4pt> </font>any<font style=LETTER-SPACING:0.3pt> </font>facts<font style=LETTER-SPACING:0.65pt> </font>that<font style=LETTER-SPACING:0.35pt> </font>could give<font style=LETTER-SPACING:1.7pt> </font>rise<font style=LETTER-SPACING:2pt> </font>to<font style=LETTER-SPACING:1.45pt> </font>a<font style=LETTER-SPACING:1.15pt> </font>claim<font style=LETTER-SPACING:1.9pt> </font>that<font style=LETTER-SPACING:1.1pt> </font>the<font style=LETTER-SPACING:1.55pt> </font>Patents<font style=LETTER-SPACING:1.5pt> </font>are<font style=LETTER-SPACING:1.65pt> </font>invalid<font style=LETTER-SPACING:1.5pt> </font>or<font style=LETTER-SPACING:1.35pt> </font>unenforceable,<font style=LETTER-SPACING:2.6pt> </font>and<font style=LETTER-SPACING:1.8pt> </font>neither Assignor<font style=LETTER-SPACING:1.6pt> </font>nor<font style=LETTER-SPACING:0.4pt> </font>the<font style=LETTER-SPACING:0.55pt> </font>Inventors<font style=LETTER-SPACING:0.5pt> </font>have<font style=LETTER-SPACING:0.5pt> </font>engaged<font style=LETTER-SPACING:1.3pt> </font>in<font style=LETTER-SPACING:0.05pt> </font>any<font style=LETTER-SPACING:0.25pt> </font>conduct,<font style=LETTER-SPACING:0.5pt> </font>or<font style=LETTER-SPACING:0.5pt> </font>omitted<font style=LETTER-SPACING:1.25pt> </font>to<font style=LETTER-SPACING:0.45pt> </font>perform any<font style=LETTER-SPACING:1.5pt> </font>necessary<font style=LETTER-SPACING:2pt> </font>act,<font style=LETTER-SPACING:1.2pt> </font>including<font style=LETTER-SPACING:1.2pt> </font>without<font style=LETTER-SPACING:1.4pt> </font>limitation<font style=LETTER-SPACING:1.4pt> </font>that<font style=LETTER-SPACING:0.95pt> </font>submission<font style=LETTER-SPACING:1.65pt> </font>of<font style=LETTER-SPACING:1.1pt> </font>all<font style=LETTER-SPACING:1.1pt> </font>prior<font style=LETTER-SPACING:1.05pt> </font>art known to<font style=LETTER-SPACING:2.25pt> </font>Assignor<font style=LETTER-SPACING:2.4pt> </font>or<font style=LETTER-SPACING:1.95pt> </font>the<font style=LETTER-SPACING:2.2pt> </font>Inventors,<font style=LETTER-SPACING:2.7pt> </font>the<font style=LETTER-SPACING:2.25pt> </font>result<font style=LETTER-SPACING:1.9pt> </font>of<font style=LETTER-SPACING:2.15pt> </font>which<font style=LETTER-SPACING:2.4pt> </font>may<font style=LETTER-SPACING:2.6pt> </font>invalidate<font style=LETTER-SPACING:2.65pt> </font>the Patents<font style=LETTER-SPACING:1pt> </font>or<font style=LETTER-SPACING:0.4pt> </font>preclude<font style=LETTER-SPACING:0.65pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>enforceability<font style=LETTER-SPACING:1.05pt> </font>of<font style=LETTER-SPACING:0.2pt> </font>the<font style=LETTER-SPACING:0.4pt> </font>Patents;</font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.95pt 0pt 2.5in; LINE-HEIGHT:102%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.15pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:103%'>4.</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>1.11&nbsp;&nbsp; Assignor has all requisite legal authority to enter into this Agreement, to consummate the transactions contemplated hereby, and to carry out and perform<font style=LETTER-SPACING:1.1pt> </font>its<font style=LETTER-SPACING:0.35pt> </font>obligations<font style=LETTER-SPACING:0.75pt> </font>under<font style=LETTER-SPACING:0.35pt> </font>the<font style=LETTER-SPACING:0.4pt> </font>terms<font style=LETTER-SPACING:0.5pt> </font>of<font style=LETTER-SPACING:0.45pt> </font>this<font style=LETTER-SPACING:0.05pt> </font>Agreement;<font style=LETTER-SPACING:0.65pt> </font>and</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 3.15pt 0pt 2.5in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.65pt 0pt 2.5in; LINE-HEIGHT:104%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.1.12&nbsp;&nbsp; <font style=LETTER-SPACING:0.7pt>The</font><font style=LETTER-SPACING:1.9pt> </font>execution,<font style=LETTER-SPACING:2pt> </font>delivery,<font style=LETTER-SPACING:1.4pt> </font>performance<font style=LETTER-SPACING:1.95pt> </font>of<font style=LETTER-SPACING:1.35pt> </font>and<font style=LETTER-SPACING:0.8pt> </font>compliance<font style=LETTER-SPACING:1.7pt> </font>with<font style=LETTER-SPACING:1.4pt> </font>this<font style=LETTER-SPACING:1.5pt> </font>Agreement has<font style=LETTER-SPACING:0.65pt> </font>not<font style=LETTER-SPACING:0.95pt> </font>resulted<font style=LETTER-SPACING:0.75pt> </font>and<font style=LETTER-SPACING:0.5pt> </font>will<font style=LETTER-SPACING:0.15pt> </font>not<font style=LETTER-SPACING:0.75pt> </font>result<font style=LETTER-SPACING:0.9pt> </font>in<font style=LETTER-SPACING:0.4pt> </font>any violation<font style=LETTER-SPACING:0.75pt> </font>of,<font style=LETTER-SPACING:0.45pt> </font>or<font style=LETTER-SPACING:0.55pt> </font>conflict<font style=LETTER-SPACING:0.9pt> </font>with,<font style=LETTER-SPACING:0.4pt> </font>or constitute<font style=LETTER-SPACING:1.9pt> </font>a<font style=LETTER-SPACING:0.7pt> </font>default<font style=LETTER-SPACING:1.2pt> </font>under<font style=LETTER-SPACING:0.7pt> </font>(with<font style=LETTER-SPACING:1.15pt> </font>or<font style=LETTER-SPACING:0.8pt> </font>without<font style=LETTER-SPACING:1.45pt> </font>notice<font style=LETTER-SPACING:0.65pt> </font>or<font style=LETTER-SPACING:0.8pt> </font>lapse<font style=LETTER-SPACING:0.85pt> </font>of<font style=LETTER-SPACING:1pt> </font>time,<font style=LETTER-SPACING:1.2pt> </font>or<font style=LETTER-SPACING:1.15pt> </font>both),<font style=LETTER-SPACING:0.8pt> </font>or give<font style=LETTER-SPACING:0.9pt> </font>rise<font style=LETTER-SPACING:0.55pt> </font>to<font style=LETTER-SPACING:0.3pt> </font>a<font style=LETTER-SPACING:0.25pt> </font>right<font style=LETTER-SPACING:0.25pt> </font>of<font style=LETTER-SPACING:0.25pt> </font>termination,<font style=LETTER-SPACING:0.4pt> </font>cancellation<font style=LETTER-SPACING:0.55pt> </font>or<font style=LETTER-SPACING:0.5pt> </font>acceleration<font style=LETTER-SPACING:1pt> </font>of<font style=LETTER-SPACING:0.25pt> </font>any<font style=LETTER-SPACING:0.65pt> </font>obligation or<font style=LETTER-SPACING:0.75pt> </font>loss<font style=LETTER-SPACING:0.5pt> </font>of<font style=LETTER-SPACING:0.45pt> </font>any<font style=LETTER-SPACING:0.25pt> </font>benefit<font style=LETTER-SPACING:0.45pt> </font>under<font style=LETTER-SPACING:0.55pt> </font>any<font style=LETTER-SPACING:0.3pt> </font>agreement<font style=LETTER-SPACING:0.75pt> </font>to<font style=LETTER-SPACING:-0.05pt> </font>which<font style=LETTER-SPACING:0.5pt> </font>Assignor<font style=LETTER-SPACING:0.75pt> </font>is<font style=LETTER-SPACING:0.05pt> </font>a<font style=LETTER-SPACING:0.4pt> </font>party.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 2.65pt 0pt 159.05pt; LINE-HEIGHT:104%; TEXT-INDENT:-33.85pt">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CTIPAC<font style=LETTER-SPACING:0.75pt> </font>represents<font style=LETTER-SPACING:1.15pt> </font>and<font style=LETTER-SPACING:0.4pt> </font>warrants<font style=LETTER-SPACING:0.5pt> </font>to<font style=LETTER-SPACING:0.35pt> </font>Assignor<font style=LETTER-SPACING:0.55pt> </font>that,<font style=LETTER-SPACING:0.5pt> </font>as<font style=LETTER-SPACING:0.25pt> </font>of the<font style=LETTER-SPACING:0.35pt> </font>date<font style=LETTER-SPACING:0.2pt> </font>hereof:</font></p> <p style="MARGIN:0in -1pt 0pt 79.5pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.2.1&nbsp;&nbsp;&nbsp;&nbsp; CTIPAC is a corporation duly organized and in good standing under the laws of Delaware;</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.65pt 0in 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>4.2.2&nbsp;&nbsp;&nbsp;&nbsp; <font style=LETTER-SPACING:0.2pt>CTIPAC has </font>authority to enter into this Agreement and implement its terms; and</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 2.5in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt>4.2.3&nbsp;&nbsp;&nbsp;&nbsp; the person<font style=LETTER-SPACING:1.7pt> </font>executing<font style=LETTER-SPACING:1.45pt> </font>this<font style=LETTER-SPACING:1.4pt> </font>Agreement<font style=LETTER-SPACING:1.2pt> </font>on<font style=LETTER-SPACING:1.75pt> </font>behalf<font style=LETTER-SPACING:0.85pt> </font>of<font style=LETTER-SPACING:1.4pt> </font>CTIPAC<font style=LETTER-SPACING:1.1pt> </font>is<font style=LETTER-SPACING:1pt> </font>duly<font style=LETTER-SPACING:1.3pt> </font>authorized to<font style=LETTER-SPACING:0.05pt> </font>do<font style=LETTER-SPACING:0.6pt> </font>so.</font></p> <p style="MARGIN:0.15pt 0in 0pt; LINE-HEIGHT:5.5pt"></font>&nbsp;</p> <p style="MARGIN:0.15pt 0in 0pt; LINE-HEIGHT:5.5pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>7 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>5 <u>RECORDS AND FEES</u></font></font></font></font></font></b></p> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:115%'><br clear=all><font style=FONT-SIZE:11pt>&nbsp;</font></p></font></div> <div> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in" align=justify><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Record Keeping and Audit</u>. CTIPAC shall keep complete and proper records of the Total Recoveries and CTIPAC Costs. Assignor shall have the right, during reasonable business hours and no more than once per calendar year, to have the correctness of any report by CTIPAC audited, at Assignor's expense, by an independent public accountant chosen by Assignor, who may examine CTIPAC's records pertinent to this Agreement. Assignor and its representatives shall hold in confidence any such information and shall not use the information for any purposes other than verifying CTIPAC's reporting in connection with this Agreement. CTIPAC will pay or reimburse the costs of the audit should the audit reveal underpayment by more than 5% in any given audit period or if any CTIPAC Cost is determined to be commercially unreasonable.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in" align=justify><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<u>Maintenance Fees</u>. For so long as this Agreement is in effect, CTIPAC shall pay all maintenance fees with respect to the Patents on or before their due dates, at the appropriate small or large entity rate. In the event CTIPAC fails to make any maintenance fee payment when due, Assignor may make such payment as its sole remedy hereunder, and any such payment shall be reimbursed by CTIPAC as part of the distribution of Net Proceeds.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in" align=justify>&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in" align=justify><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Document Retention</u>. Assignor acknowledges that the Patents will likely be subject to litigation. Upon and after the Effective Date and for five (5) years thereafter, Assignor shall not, and Assignor shall provide reasonable efforts to request that the Inventors to not destroy (a) any documents that constitute, refer to, summarize, or describe the Patents in Assignor's or Inventors' possession or control as of the Effective Date; and (b) any documents that constitute, refer to, summarize, or describe the Patents coming into Assignors or Inventors' possession or control after the Effective Date, including those related to enforcement of the Patents.</font></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt" align=justify>&nbsp;</p></font> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>6 <u>ENFORCEMENT OF PATENT RIGHTS</u></font></font></font></font></font></b></p> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Assertion Activities.</u> Subject to the terms of this Agreement, CTIPAC will use its good faith reasonable efforts to pursue licensing and enforcement of the Patents against target companies selected by CTIPAC.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>6.2</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><u>Initiation of Lawsuits</u>. CTIPAC may, in its sole judgment, decide to institute enforcement actions against certain or all of the companies that CTIPAC believes are infringing the Patents. CTIPAC shall have the exclusive right to bring lawsuits to enforce the Patents. Assignor shall join as a plaintiff at CTIPAC&#146;s request in the event CTIPAC&#146;s counsel determines that Assignor is a necessary party to the action.&nbsp; Assignor hereby grants CTIPAC a power of attorney allowing CTIPAC to add Assignor as a party to any such action and bring an action in Assignor&#146;s name.&nbsp; In the event that Assignor joins in any suit, either before or after it is initiated, Assignor shall have the right to be represented&nbsp; by&nbsp; counsel&nbsp; of&nbsp; its&nbsp; choice,&nbsp; provided&nbsp; that&nbsp; if&nbsp; Assignor&nbsp; chooses&nbsp; to&nbsp; have representation&nbsp; separate from CTIPAC,&nbsp; Assignor shall be responsible for paying all its own&nbsp; fees&nbsp; and&nbsp; costs&nbsp; related&nbsp; to&nbsp; such&nbsp;&nbsp; representation&nbsp; and&nbsp; CTIPAC&nbsp;&nbsp; shall&nbsp; be&nbsp; solely responsible for the fees and costs incurred by its own counsel.&nbsp; In the event Assignor joins&nbsp; as&nbsp; a&nbsp; plaintiff&nbsp; at&nbsp; CTIPAC's request&nbsp; or&nbsp; CTIPAC&nbsp; brings&nbsp; an&nbsp; action&nbsp; in&nbsp; Assignor's name,&nbsp; or Assignor&nbsp; is named&nbsp; as a party&nbsp; by another&nbsp; party to such&nbsp; action,&nbsp; CTIPAC&nbsp; shall defend and indemnify&nbsp; Assignor&nbsp; against&nbsp; all liabilities,&nbsp; costs and expenses&nbsp; related to such action,&nbsp;&nbsp; except&nbsp;&nbsp; that,&nbsp; as&nbsp; provided&nbsp;&nbsp; above,&nbsp;&nbsp; Assignor&nbsp;&nbsp; shall&nbsp; be&nbsp; responsible&nbsp; for&nbsp; its&nbsp; own counsel's fees&nbsp; and&nbsp; costs&nbsp; if&nbsp; it elects&nbsp; to&nbsp; retain&nbsp; separate&nbsp; counsel.&nbsp;&nbsp;&nbsp; The&nbsp; Parties&nbsp; agree&nbsp; to cooperate&nbsp;&nbsp; with&nbsp; each&nbsp; other&nbsp; in&nbsp; connection&nbsp; with&nbsp; any&nbsp; lawsuits&nbsp;&nbsp; brought&nbsp;&nbsp; to&nbsp; enforce&nbsp; the Patents.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in -1pt 0pt 79.5pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>8 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Licenses&nbsp; and Settlements</u>. CTIPAC&nbsp; reserves&nbsp; the sole right to select&nbsp; counsel,&nbsp; direct any&nbsp; litigation, and&nbsp; to&nbsp; negotiate&nbsp; and&nbsp; determine&nbsp; the&nbsp; terms&nbsp; of&nbsp; any&nbsp; settlement,&nbsp; license, covenant&nbsp; not to sue, sale or other disposition of the Patents.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:normal; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>6.4</font>&nbsp;<font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Assignor&nbsp; and Inventor Cooperation</u>. Assignor&nbsp;shall&nbsp;provide&nbsp; reasonable&nbsp;efforts to cause&nbsp; the Inventors&nbsp; to assist CTIPAC&nbsp; in identifying&nbsp; potential&nbsp; infringers&nbsp; of the Patents, and in responding to non-infringement and invalidity&nbsp; contentions, whether&nbsp; in litigation or otherwise, and in the preparation&nbsp; of additional&nbsp; claims for the Patents.&nbsp; Assignor&nbsp; shall be available&nbsp; and shall provide&nbsp; reasonable&nbsp; efforts&nbsp; to cause the Inventors&nbsp; to be available from&nbsp; time&nbsp; to time to consult&nbsp; with&nbsp; CTIPAC&nbsp; or its attorneys&nbsp; on matters&nbsp; relating&nbsp; to the Patents.&nbsp;&nbsp; In the event that the testimony&nbsp; of any employee,&nbsp; director, officer,&nbsp; consultant or agent&nbsp; of Assignor&nbsp; is taken&nbsp; in any&nbsp; action&nbsp; relating&nbsp; to the Patents,&nbsp; CTIPAC's attorneys will&nbsp; represent&nbsp; such&nbsp; party&nbsp; without&nbsp; additional&nbsp; charge,&nbsp; and Assignor&nbsp; shall&nbsp; cooperate&nbsp; and shall provide&nbsp; reasonable&nbsp; efforts to request that the Inventors&nbsp; to cooperate with CTIPAC and&nbsp; its&nbsp; attorneys&nbsp;&nbsp; in&nbsp; preparing&nbsp;&nbsp; for&nbsp; such&nbsp; testimony.&nbsp;&nbsp; Assignor&nbsp;&nbsp; will&nbsp; grant&nbsp; access&nbsp; to CTIPAC and&nbsp; allow&nbsp; CTIPAC&nbsp; to&nbsp; make&nbsp; copies&nbsp; of&nbsp; all files&nbsp; in&nbsp; Assignors&nbsp; possession&nbsp; or control&nbsp; relating&nbsp; to the Patents, including without limitation access to such documents&nbsp; as may be necessary&nbsp; to conduct enforcement and licensing efforts.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in -1pt 0pt 79.5pt; LINE-HEIGHT:normal">&nbsp;</p></div> <div> <p style="MARGIN:0in -1pt 0pt 59.2pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>7&nbsp; <u>TERM</u></font></font></font></font></font></b></p> <p style="MARGIN:0.7pt 0in 0pt; LINE-HEIGHT:11pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.85pt 0pt 1.6in; LINE-HEIGHT:107%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:107%'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Agreement Term.</u> This&nbsp;<font style=LETTER-SPACING:0.25pt> </font>term&nbsp;<font style=LETTER-SPACING:0.2pt> </font>("Term")<font style=LETTER-SPACING:1.35pt> </font>of<font style=LETTER-SPACING:2.25pt> </font>this&nbsp;<font style=LETTER-SPACING:0.1pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:1.6pt> </font>shall&nbsp;<font style=LETTER-SPACING:0.55pt> </font>commence<font style=LETTER-SPACING:1pt> </font>on<font style=LETTER-SPACING:2.5pt> </font>the Effective Date<font style=LETTER-SPACING:1.9pt> </font>and<font style=LETTER-SPACING:1.35pt> </font>shall<font style=LETTER-SPACING:2.05pt> </font>end<font style=LETTER-SPACING:1.15pt> </font>upon<font style=LETTER-SPACING:1.6pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>earlier<font style=LETTER-SPACING:2.3pt> </font>of<font style=LETTER-SPACING:0.45pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>(i)<font style=LETTER-SPACING:1.05pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:107%'>the<font style=LETTER-SPACING:0.7pt> </font>last<font style=LETTER-SPACING:1.25pt> </font>to<font style=LETTER-SPACING:0.85pt> </font>expire<font style=LETTER-SPACING:2.35pt> </font>of<font style=LETTER-SPACING:1.1pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>Patents;<font style=LETTER-SPACING:2.15pt> </font>and (ii)<font style=LETTER-SPACING:1.6pt> </font>the<font style=LETTER-SPACING:1.45pt> </font>conclusion<font style=LETTER-SPACING:0.4pt> </font>of<font style=LETTER-SPACING:1.3pt> </font>all<font style=LETTER-SPACING:1.2pt> </font>activities&nbsp;<font style=LETTER-SPACING:0.45pt> </font>in<font style=LETTER-SPACING:0.85pt> </font>connection&nbsp;<font style=LETTER-SPACING:1.05pt> </font>with<font style=LETTER-SPACING:1.4pt> </font>the<font style=LETTER-SPACING:1.2pt> </font>licensing&nbsp;<font style=LETTER-SPACING:0.3pt> </font>and<font style=LETTER-SPACING:1.95pt> </font>enforcement&nbsp;<font style=LETTER-SPACING:0.6pt> </font>of the<font style=LETTER-SPACING:2.05pt> </font>Patents,&nbsp;<font style=LETTER-SPACING:0.95pt> </font>but<font style=LETTER-SPACING:1.95pt> </font>in<font style=LETTER-SPACING:1.85pt> </font>no<font style=LETTER-SPACING:1.85pt> </font>case<font style=LETTER-SPACING:2.15pt> </font>will<font style=LETTER-SPACING:2.05pt> </font>the<font style=LETTER-SPACING:1.7pt> </font>Term&nbsp;<font style=LETTER-SPACING:0.25pt> </font>of<font style=LETTER-SPACING:2.05pt> </font>the<font style=LETTER-SPACING:1.65pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:1.2pt> </font>end<font style=LETTER-SPACING:2.4pt> </font>prior<font style=LETTER-SPACING:2.6pt> </font>to<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:1.6pt> </font>Purchase Due<font style=LETTER-SPACING:1.7pt> </font>Date.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.85pt 0pt 1.6in; LINE-HEIGHT:107%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="PADDING-LEFT:0px; MARGIN:1.65pt -1pt 0pt 1.6in; LINE-HEIGHT:11.85pt; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:0.5pt'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Purchase&nbsp;<font style=LETTER-SPACING:0.65pt> </font>Amount Deficit Termination.</u></font></font></font></font></font></p> <p style="MARGIN:0.8pt 0in 0pt; LINE-HEIGHT:12pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.3pt 0pt 2.5in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LETTER-SPACING:0.2pt; LINE-HEIGHT:108%'>7</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:108%'>.2.1&nbsp;&nbsp;&nbsp;&nbsp; To the extent that either (i)&nbsp; Assignor&nbsp; materially breaches&nbsp; any of&nbsp; the representations and warranties&nbsp; set forth in <u>Section&nbsp; 4.1</u> above, and such breach or&nbsp; breaches&nbsp; are&nbsp; not&nbsp; fully&nbsp; cured&nbsp; within&nbsp; thirty&nbsp; (30)&nbsp; days&nbsp; of&nbsp; written&nbsp; notice&nbsp; by CTIPAC to Assignor&nbsp; of such&nbsp; breach&nbsp; or breaches;&nbsp; or&nbsp; (ii)&nbsp; the&nbsp; primary&nbsp; claims from&nbsp; the Patents&nbsp; being asserted&nbsp; by CTIPAC&nbsp; in any&nbsp; lawsuit&nbsp; are deemed&nbsp; to be invalid&nbsp; or unenforceable as a result of fraud on the USPTO&nbsp; by Assignor&nbsp; and/or any of the Inventors&nbsp; such that the lawsuit cannot proceed, , any unpaid amount of the Purchase&nbsp; Amount Deficit&nbsp; will be reduced&nbsp; to reflect&nbsp; the then current fair market&nbsp; value of the Patents, if any, less the value of the Restricted&nbsp; Stock on the Effective&nbsp; Date and any amounts&nbsp; previously&nbsp; paid by CTIPAC&nbsp; to Assignor. The Parties shall work together to reasonably determine an amount to reduce any unpaid Purchase Amount Deficit. CTIPAC shall use commercially reasonable efforts in defending any challenge to the enforceability of the Patents. Notwithstanding&nbsp; the&nbsp; foregoing, the&nbsp; occurrence&nbsp; of&nbsp; any&nbsp; event&nbsp; identified&nbsp; in <u>Section&nbsp; 7.2.1 (i) or (ii)</u> will have&nbsp; no effect on any amount&nbsp; of the Purchase Amount Deficit paid to Assignor, or any payments made to Assignor, prior to the occurrence of such events.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:1.65pt 2.3pt 0pt 159.3pt; LINE-HEIGHT:108%; TEXT-INDENT:-33.7pt">&nbsp;</p></div> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>9 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="TEXT-ALIGN:right; MARGIN:1.8pt -1pt 0pt 0in; LINE-HEIGHT:normal" align=right>&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.3pt 0pt 2.5in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LETTER-SPACING:0.2pt; LINE-HEIGHT:108%'>7.2.2</font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:108%'>&nbsp;&nbsp;&nbsp;&nbsp; To the extent that claims from the Patents being asserted by CTIPAC in any lawsuit&nbsp; are&nbsp; adversely&nbsp; altered&nbsp; or&nbsp; affected&nbsp; by,&nbsp; or&nbsp; do&nbsp; not&nbsp; survive&nbsp; any&nbsp; re&shy; examination&nbsp; proceeding&nbsp; before the USPTO and CTIPAC's&nbsp; litigation counsel and the Parties reasonably determine that (i) such lawsuit cannot reasonably proceed&nbsp; on&nbsp; the&nbsp; basis&nbsp; of&nbsp; the&nbsp; adversely&nbsp; altered&nbsp; or&nbsp; affected&nbsp; claims&nbsp; from&nbsp; the Patents, and (ii) no further lawsuits or assertions are possible based solely on the adversely altered or affected claims from the Patents, any unpaid amounts of the Purchase Amount Deficit will be reduced to reflect the then current fair market value of the Patents, if any, less the value of the Restricted Stock on the Effective Date and any amounts previously paid by CTIPAC to Assignor.&nbsp; The Parties shall reasonably determine an amount to reduce any unpaid Purchase Amount Deficit.&nbsp; Notwithstanding the foregoing, such a reduction in the unpaid Purchase Amount Deficit will have no effect on any amount of the Purchase Amount Deficit paid to Assignor, or any payments made to Assignor, prior to such events occurring.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.3pt 0pt 2.5in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt 2.3pt 0pt 2.5in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>7.2.3<font style='FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:108%'>&nbsp;&nbsp;&nbsp;&nbsp; If&nbsp; the&nbsp; Parties&nbsp; are&nbsp; unable&nbsp; to&nbsp; agree&nbsp; as&nbsp; to&nbsp; the amount&nbsp; to&nbsp; reduce&nbsp; the&nbsp; unpaid Purchase&nbsp; Amount Deficit under <u>Section 7.2.1 above</u> or <u>Section&nbsp; 7.2.2 above</u>, each party will nominate Appraiser for determining the amount to reduce the unpaid Purchase Amount Deficit. The Appraiser nominated by each respective Party shall make an assessment of the amount to be reduced and submit such assessment to the other party, and the parties shall then negotiate in good faith to agree to the amount to reduce the unpaid Purchase Amount Deficit.&nbsp; If the parties&nbsp; cannot&nbsp; agree&nbsp; to the amount&nbsp; to reduce the unpaid&nbsp; Purchase Amount Deficit, the Appraisers shall jointly nominate a third independent Appraiser to determine the amount to reduce the unpaid Purchase Amount Deficit.</font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:1.65pt 2.3pt 0pt 159.3pt; LINE-HEIGHT:108%; TEXT-INDENT:-33.7pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt -1pt 0pt 1.6in; LINE-HEIGHT:11.85pt; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:0.5pt'>7.</font> <font style='FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:0.5pt'>3&nbsp;<font style=LETTER-SPACING:-1.95pt>&nbsp;</font>&nbsp;&nbsp;&nbsp; <u>Continuing Royalty Obligations</u>.&nbsp;Notwithstanding&nbsp; <u>Section 7.1</u> and&nbsp; <u>Section 7.2</u> above, CTIPAC's&nbsp; obligations to pay Assignor the Continuing Royalty shall continue (i)&nbsp; beyond&nbsp; the&nbsp; Term&nbsp; to&nbsp; the&nbsp; extent&nbsp; that&nbsp; any&nbsp; Net&nbsp; Proceeds&nbsp; are&nbsp; received&nbsp; after&nbsp; the expiration of the Term, and (ii) after any Purchase Amount termination, provided that any Net Proceeds are received after such termination. </font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt -1pt 0pt 1.6in; LINE-HEIGHT:11.85pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:1.65pt -1pt 0pt 1.6in; LINE-HEIGHT:11.85pt; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Termination of Agreement</u>.&nbsp;&nbsp; In the event that CTIPAC or its attorneys are found to have&nbsp; committed&nbsp; inequitable&nbsp; conduct,&nbsp; by&nbsp; any&nbsp; judicial agency&nbsp; or&nbsp; the&nbsp; United&nbsp; States Patent and Trademark Office, that may have any adverse impact on the prosecution, enforcement or licensing of the Patents, Assignor may elect to have all right, title and interest&nbsp; in&nbsp; and&nbsp; to&nbsp; the&nbsp; Patents&nbsp; be&nbsp; transferred&nbsp; to&nbsp; Assignor&nbsp; and&nbsp; to&nbsp; Terminate&nbsp; the Agreement, and to have any undistributed Net Proceeds distributed in accordance with the Agreement.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:1.65pt -1pt 0pt 84pt; LINE-HEIGHT:11.85pt">&nbsp;</p></div> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>10 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="MARGIN:2.25pt -1pt 0pt 59.4pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>8&nbsp;&nbsp; <u>ASSIGNMENT</u></font></font></font></font></font></b></p> <p style="MARGIN:0.2pt 0in 0pt; LINE-HEIGHT:14pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.25pt 0pt 1.6in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:108%'>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Agreement shall inure to the benefit of, and be binding upon the respective successors,<font style=LETTER-SPACING:0.05pt> </font>heirs,<font style=LETTER-SPACING:1.75pt> </font>beneficiaries and<font style=LETTER-SPACING:1.45pt> </font>personal <font style=LETTER-SPACING:0.05pt>representatives </font>of<font style=LETTER-SPACING:0.8pt> </font>Assignor and<font style=LETTER-SPACING:1.25pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC. Notwithstanding<font style=LETTER-SPACING:1.4pt> </font>the<font style=LETTER-SPACING:2.3pt> </font>foregoing, this Agreement<font style=LETTER-SPACING:1.45pt> </font>is<font style=LETTER-SPACING:1.85pt> </font>personal&nbsp;<font style=LETTER-SPACING:1pt> </font>and&nbsp;<font style=LETTER-SPACING:0.2pt> </font>non-assignable,<font style=LETTER-SPACING:1.9pt> </font>except that<font style=LETTER-SPACING:2.3pt> </font>it<font style=LETTER-SPACING:1.8pt> </font>may&nbsp;<font style=LETTER-SPACING:0.35pt> </font>be<font style=LETTER-SPACING:2.05pt> </font>assigned&nbsp;<font style=LETTER-SPACING:1.45pt> </font>by<font style=LETTER-SPACING:2.05pt> </font>CTIPAC&nbsp;<font style=LETTER-SPACING:1.45pt> </font>to<font style=LETTER-SPACING:1.85pt> </font>an<font style=LETTER-SPACING:2.3pt> </font>affiliate&nbsp;<font style=LETTER-SPACING:0.95pt> </font>of<font style=LETTER-SPACING:1.7pt> </font>CTI<font style=LETTER-SPACING:0.25pt>P</font>AC, provided such affiliate agrees&nbsp;<font style=LETTER-SPACING:0.2pt> </font>in writing to be bound by all the terms and conditions of this Agreement including&nbsp;<font style=LETTER-SPACING:0.6pt> </font>the<font style=LETTER-SPACING:1.15pt> </font>obligation<font style=LETTER-SPACING:-0.05pt> </font>to<font style=LETTER-SPACING:0.9pt> </font>make<font style=LETTER-SPACING:1.75pt> </font>payments hereunder.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 2.25pt 0pt 116.85pt; LINE-HEIGHT:108%; TEXT-INDENT:-28.75pt">&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 59.6pt; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>9&nbsp;&nbsp;&nbsp; </strong><strong><u>GOVERNING<font style=LETTER-SPACING:0.95pt> </font>LAW<font style=LETTER-SPACING:1.35pt> </font>AND<font style=LETTER-SPACING:0.65pt> </font>CONSENT<font style=LETTER-SPACING:0.8pt> </font>TO<font style=LETTER-SPACING:0.4pt> </font>JURISDICTION</u></strong></font></font></font></font></font></p> <p style="MARGIN:0.05pt 0in 0pt; LINE-HEIGHT:11pt">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.75pt 0pt 1.6in; LINE-HEIGHT:109%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:109%'>9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This&nbsp;<font style=LETTER-SPACING:0.35pt> </font>Agreement shall<font style=LETTER-SPACING:0.15pt> </font>be governed by and<font style=LETTER-SPACING:0.05pt> </font>construed<font style=LETTER-SPACING:1.35pt> </font>under applicable<font style=LETTER-SPACING:1.15pt> </font>federal<font style=LETTER-SPACING:1.15pt> </font>law<font style=LETTER-SPACING:2.55pt> </font>and the<font style=LETTER-SPACING:1.9pt> </font>laws<font style=LETTER-SPACING:0.05pt> </font>of<font style=LETTER-SPACING:2.1pt> </font>the<font style=LETTER-SPACING:2.05pt> </font>State&nbsp;of<font style=LETTER-SPACING:2.05pt> </font>California,<font style=LETTER-SPACING:1pt> </font>excluding<font style=LETTER-SPACING:1.4pt> </font>any<font style=LETTER-SPACING:1.95pt> </font>conflict<font style=LETTER-SPACING:0.4pt> </font>of<font style=LETTER-SPACING:1.75pt> </font>law<font style=LETTER-SPACING:2.4pt> </font>provisions. CTIPAC and Assignor<font style=LETTER-SPACING:2.25pt> </font>each irrevocably consent<font style=LETTER-SPACING:1.8pt> </font>to<font style=LETTER-SPACING:0.2pt> </font>the<font style=LETTER-SPACING:0.15pt> </font>exclusive<font style=LETTER-SPACING:1pt> </font>jurisdiction<font style=LETTER-SPACING:2.05pt> </font>of any<font style=LETTER-SPACING:0.3pt> </font>California state<font style=LETTER-SPACING:1.65pt> </font>or<font style=LETTER-SPACING:1.35pt> </font>federal<font style=LETTER-SPACING:0.35pt> </font>court,<font style=LETTER-SPACING:1.75pt> </font>over<font style=LETTER-SPACING:1.75pt> </font>any<font style=LETTER-SPACING:1.35pt> </font>suit,<font style=LETTER-SPACING:1.55pt> </font>action<font style=LETTER-SPACING:2.35pt> </font>or<font style=LETTER-SPACING:1.3pt> </font>proceeding<font style=LETTER-SPACING:0.4pt> </font>arising<font style=LETTER-SPACING:2.45pt> </font>out<font style=LETTER-SPACING:1.7pt> </font>of<font style=LETTER-SPACING:1.35pt> </font>or<font style=LETTER-SPACING:0.95pt> </font>relating&nbsp;<font style=LETTER-SPACING:0.05pt> </font>to<font style=LETTER-SPACING:0.65pt> </font>this Agreement. CTI<font style=LETTER-SPACING:0.25pt>P</font>AC and Assignor hereby<font style=LETTER-SPACING:2.4pt> </font>waive<font style=LETTER-SPACING:1.45pt> </font>personal<font style=LETTER-SPACING:1.5pt> </font>service<font style=LETTER-SPACING:2.4pt> </font>of<font style=LETTER-SPACING:0.55pt> </font>any summons, complaint,<font style=LETTER-SPACING:2.4pt> </font>or<font style=LETTER-SPACING:2.55pt> </font>other<font style=LETTER-SPACING:0.7pt> </font>process&nbsp;<font style=LETTER-SPACING:1.2pt> </font>in<font style=LETTER-SPACING:2pt> </font>any<font style=LETTER-SPACING:0.3pt> </font>action&nbsp;in<font style=LETTER-SPACING:2.35pt> </font>any<font style=LETTER-SPACING:2.5pt> </font>California&nbsp;state<font style=LETTER-SPACING:0.6pt> </font>or<font style=LETTER-SPACING:2.5pt> </font>federal&nbsp;court,<font style=LETTER-SPACING:0.3pt> </font>and agree<font style=LETTER-SPACING:0.9pt> </font>that<font style=LETTER-SPACING:0.85pt> </font>all<font style=LETTER-SPACING:0.3pt> </font>service&nbsp;<font style=LETTER-SPACING:1.7pt> </font>thereof&nbsp;<font style=LETTER-SPACING:1.7pt> </font>may<font style=LETTER-SPACING:0.65pt> </font>be&nbsp;made<font style=LETTER-SPACING:1.05pt> </font>by (a)&nbsp;certified<font style=LETTER-SPACING:1.55pt> </font>or<font style=LETTER-SPACING:0.45pt> </font>registered<font style=LETTER-SPACING:0.05pt> </font>mail,&nbsp;return receipt&nbsp; requested,<font style=LETTER-SPACING:0.3pt> </font>to<font style=LETTER-SPACING:0.9pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>other<font style=LETTER-SPACING:1.95pt> </font>Party's address&nbsp; identified<font style=LETTER-SPACING:2.5pt> </font>in<font style=LETTER-SPACING:1.15pt> </font>the<font style=LETTER-SPACING:1.35pt> </font>opening&nbsp;paragraph&nbsp;<font style=LETTER-SPACING:0.25pt> </font>of<font style=LETTER-SPACING:1.35pt> </font>this Agreement;<font style=LETTER-SPACING:-0.15pt> </font>or<font style=LETTER-SPACING:1.3pt> </font>(b)<font style=LETTER-SPACING:1.1pt> </font>by<font style=LETTER-SPACING:0.9pt> </font>such<font style=LETTER-SPACING:1.7pt> </font>other<font style=LETTER-SPACING:1.75pt> </font>method<font style=LETTER-SPACING:2.3pt> </font>authorized<font style=LETTER-SPACING:0.15pt> </font>by<font style=LETTER-SPACING:0.6pt> </font>the<font style=LETTER-SPACING:0.85pt> </font>California Long<font style=LETTER-SPACING:2pt> </font>Arm<font style=LETTER-SPACING:1.7pt> </font>Statute.</font></p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.75pt 0pt 1.6in; LINE-HEIGHT:109%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 3pt 0pt 1.6in; LINE-HEIGHT:107%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:107%'>&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neither<font style=LETTER-SPACING:0.2pt> </font>CTIPAC&nbsp;nor<font style=LETTER-SPACING:1.55pt> </font>Assignor<font style=LETTER-SPACING:0.45pt> </font>shall<font style=LETTER-SPACING:2.2pt> </font>be<font style=LETTER-SPACING:1.45pt> </font>liable<font style=LETTER-SPACING:2.5pt> </font>for<font style=LETTER-SPACING:1.5pt> </font>any<font style=LETTER-SPACING:1.55pt> </font>consequence<font style=LETTER-SPACING:0.3pt> </font>or<font style=LETTER-SPACING:1.65pt> </font>damage<font style=LETTER-SPACING:0.45pt> </font>arising<font style=LETTER-SPACING:2.35pt> </font>out of<font style=LETTER-SPACING:2.45pt> </font>or resulting&nbsp;from<font style=LETTER-SPACING:0.7pt> </font>the<font style=LETTER-SPACING:0.2pt> </font>manufacture,<font style=LETTER-SPACING:1.2pt> </font>use or<font style=LETTER-SPACING:2.4pt> </font>sale&nbsp;of<font style=LETTER-SPACING:2.2pt> </font>products<font style=LETTER-SPACING:1.2pt> </font>under&nbsp;the&nbsp;Patent.&nbsp;In<font style=LETTER-SPACING:2.2pt> </font>no event <font style=LETTER-SPACING:0.4pt>shall</font> <font style=LETTER-SPACING:0.95pt>any</font> <font style=LETTER-SPACING:0.8pt>Party</font> <font style=LETTER-SPACING:0.45pt>be</font><font style=LETTER-SPACING:2.45pt> </font>entitled <font style=LETTER-SPACING:1.4pt>to</font><font style=LETTER-SPACING:2.2pt> </font>special, <font style=LETTER-SPACING:0.5pt>indirect</font>, <font style=LETTER-SPACING:0.5pt>consequential</font><font style=LETTER-SPACING:1.7pt> </font>damages,<font style=LETTER-SPACING:1.7pt> </font>including lost<font style=LETTER-SPACING:0.95pt> </font>profits,&nbsp;or<font style=LETTER-SPACING:1.3pt> </font>punitive<font style=LETTER-SPACING:2.4pt> </font>damages for<font style=LETTER-SPACING:1.45pt> </font>breach<font style=LETTER-SPACING:2pt> </font>of<font style=LETTER-SPACING:1.1pt> </font>this<font style=LETTER-SPACING:1.3pt> </font>Agreement.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 3pt 0pt 113pt; LINE-HEIGHT:107%; TEXT-INDENT:-33.05pt">&nbsp;</p> <p style="MARGIN:1.55pt -1pt 0pt 59.85pt; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>10<font style=LETTER-SPACING:2.05pt>&nbsp; </font></strong><strong><u>CONFIDENTIALITY<font style=LETTER-SPACING:2.6pt> </font>AND<font style=LETTER-SPACING:0.6pt> </font>PRIVILEGE</u></strong></font></font></font></font></font></p> <p style="MARGIN:1.55pt -1pt 0pt 59.85pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.5pt 0pt 1.6in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:108%'>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All<font style=LETTER-SPACING:2.3pt> </font>information<font style=LETTER-SPACING:0.5pt> </font>provided <font style=LETTER-SPACING:0.5pt>pursuant</font> <font style=LETTER-SPACING:1.5pt>to</font><font style=LETTER-SPACING:0.5pt> </font>this Agreement, <font style=LETTER-SPACING:0.5pt>including</font> <font style=LETTER-SPACING:0.5pt>without</font> <font style=LETTER-SPACING:0.5pt>limitation</font>, <font style=LETTER-SPACING:1.65pt>the</font> terms<font style=LETTER-SPACING:1.7pt> </font>of<font style=LETTER-SPACING:1.2pt> </font>this<font style=LETTER-SPACING:1.55pt> </font>Agreement, shall<font style=LETTER-SPACING:1.7pt> </font>be<font style=LETTER-SPACING:1.05pt> </font>regarded <font style=LETTER-SPACING:0.45pt>as</font><font style=LETTER-SPACING:0.9pt> </font>confidential <font style=LETTER-SPACING:0.45pt>information</font><font style=LETTER-SPACING:0.25pt> </font>("Confidential Information"). The Parties&nbsp;<font style=LETTER-SPACING:1.25pt> </font>agree&nbsp;<font style=LETTER-SPACING:1.2pt> </font>that, other<font style=LETTER-SPACING:0.8pt> </font>than as<font style=LETTER-SPACING:2.25pt> </font>required&nbsp;<font style=LETTER-SPACING:1.75pt> </font>by law, they&nbsp;<font style=LETTER-SPACING:0.55pt> </font>shall&nbsp;<font style=LETTER-SPACING:0.7pt> </font>not disclose&nbsp;<font style=LETTER-SPACING:1.15pt> </font>any<font style=LETTER-SPACING:0.6pt> </font>Confidential<font style=LETTER-SPACING:1.55pt> </font>Information<font style=LETTER-SPACING:1.6pt> </font>and shall use<font style=LETTER-SPACING:2.4pt> </font>the<font style=LETTER-SPACING:2.05pt> </font>Confidential<font style=LETTER-SPACING:1.6pt> </font>Information<font style=LETTER-SPACING:1.35pt> </font>only for<font style=LETTER-SPACING:2.05pt> </font>the<font style=LETTER-SPACING:2.25pt> </font>purposes set<font style=LETTER-SPACING:2pt> </font>fort&nbsp;<font style=LETTER-SPACING:2.6pt> </font>herein.<font style=LETTER-SPACING:1.6pt> </font>Assignor acknowledges&nbsp;<font style=LETTER-SPACING:1.1pt> </font>that CTIPAC's parent company, CopyTele, Inc.<font style=LETTER-SPACING:2pt> </font>("COPY"),<font style=LETTER-SPACING:0.6pt> </font>is<font style=LETTER-SPACING:0.75pt> </font>a<font style=LETTER-SPACING:1pt> </font>publicly&nbsp;<font style=LETTER-SPACING:0.05pt> </font>traded<font style=LETTER-SPACING:1.75pt> </font>company,<font style=LETTER-SPACING:1.15pt> </font>and<font style=LETTER-SPACING:1.85pt> </font>that<font style=LETTER-SPACING:1.8pt> </font>COPY<font style=LETTER-SPACING:1.9pt> </font>may be<font style=LETTER-SPACING:2.6pt> </font>required<font style=LETTER-SPACING:2.2pt> </font>to<font style=LETTER-SPACING:0.1pt> </font>publicly<font style=LETTER-SPACING:1.45pt> </font>disclose<font style=LETTER-SPACING:1.95pt> </font>the<font style=LETTER-SPACING:0.05pt> </font>signing of<font style=LETTER-SPACING:0.15pt> </font>this Agreement&nbsp;<font style=LETTER-SPACING:2.25pt> </font>at<font style=LETTER-SPACING:2.45pt> </font>the&nbsp;<font style=LETTER-SPACING:0.45pt> </font>end of<font style=LETTER-SPACING:2.5pt> </font>the&nbsp;<font style=LETTER-SPACING:0.1pt> </font>Due Diligence Period,<font style=LETTER-SPACING:0.75pt> </font>as<font style=LETTER-SPACING:1.85pt> </font>well<font style=LETTER-SPACING:2.3pt> </font>as<font style=LETTER-SPACING:1.5pt> </font>certain&nbsp;<font style=LETTER-SPACING:0.7pt> </font>terms&nbsp;<font style=LETTER-SPACING:0.15pt> </font>of<font style=LETTER-SPACING:1.85pt> </font>the<font style=LETTER-SPACING:1.95pt> </font>Agreement. Confidential<font style=LETTER-SPACING:1.25pt> </font>Information shall not<font style=LETTER-SPACING:1.35pt> </font>include&nbsp;<font style=LETTER-SPACING:2.45pt> </font>information that:<font style=LETTER-SPACING:1.2pt> </font>(a)<font style=LETTER-SPACING:1.15pt> </font>was already&nbsp;<font style=LETTER-SPACING:1.75pt> </font>known, otherwise<font style=LETTER-SPACING:2.2pt> </font>than<font style=LETTER-SPACING:1.25pt> </font>under<font style=LETTER-SPACING:1.4pt> </font>an agreement<font style=LETTER-SPACING:1.35pt> </font>of<font style=LETTER-SPACING:2.35pt> </font>secrecy&nbsp;<font style=LETTER-SPACING:1.4pt> </font>or<font style=LETTER-SPACING:2.4pt> </font>non-use,&nbsp;<font style=LETTER-SPACING:1.35pt> </font>at<font style=LETTER-SPACING:2.2pt> </font>the<font style=LETTER-SPACING:2.55pt> </font>time<font style=LETTER-SPACING:0.15pt> </font>of<font style=LETTER-SPACING:2.3pt> </font>its<font style=LETTER-SPACING:1.85pt> </font>disclosure;&nbsp;<font style=LETTER-SPACING:2pt> </font>(b)<font style=LETTER-SPACING:2.4pt> </font>has&nbsp;<font style=LETTER-SPACING:0.15pt> </font>passed&nbsp;<font style=LETTER-SPACING:1pt> </font>into<font style=LETTER-SPACING:2.45pt> </font>the public<font style=LETTER-SPACING:2pt> </font>domain&nbsp;<font style=LETTER-SPACING:0.45pt> </font>prior<font style=LETTER-SPACING:1.7pt> </font>to<font style=LETTER-SPACING:0.9pt> </font>or<font style=LETTER-SPACING:0.9pt> </font>after<font style=LETTER-SPACING:1.9pt> </font>its<font style=LETTER-SPACING:1pt> </font>disclosure, otherwise&nbsp;<font style=LETTER-SPACING:0.35pt> </font>than<font style=LETTER-SPACING:1.3pt> </font>through&nbsp;<font style=LETTER-SPACING:0.25pt> </font>any<font style=LETTER-SPACING:1.7pt> </font>act<font style=LETTER-SPACING:1.15pt> </font>or<font style=LETTER-SPACING:0.9pt> </font>omission attributable<font style=LETTER-SPACING:2pt> </font>to&nbsp;<font style=LETTER-SPACING:0.35pt> </font>principals,<font style=LETTER-SPACING:2.35pt> </font>officers, employees,<font style=LETTER-SPACING:1.95pt> </font>consultants or agents of&nbsp;<font style=LETTER-SPACING:0.15pt> </font>the<font style=LETTER-SPACING:0.45pt> </font>disclosing party; or<font style=LETTER-SPACING:1.8pt> </font>(c)<font style=LETTER-SPACING:2.1pt> </font>was<font style=LETTER-SPACING:2pt> </font>subsequently<font style=LETTER-SPACING:0.95pt> </font>disclosed, otherwise than<font style=LETTER-SPACING:1.7pt> </font>under<font style=LETTER-SPACING:2.6pt> </font>an<font style=LETTER-SPACING:1.55pt> </font>agreement<font style=LETTER-SPACING:0.65pt> </font>of<font style=LETTER-SPACING:1.35pt> </font>secrecy or<font style=LETTER-SPACING:1.2pt> </font>non-use,&nbsp;<font style=LETTER-SPACING:1.1pt> </font>by<font style=LETTER-SPACING:1.5pt> </font>a<font style=LETTER-SPACING:0.85pt> </font>third<font style=LETTER-SPACING:2pt> </font>party<font style=LETTER-SPACING:2.1pt> </font>that<font style=LETTER-SPACING:1.6pt> </font>had<font style=LETTER-SPACING:1.45pt> </font>not<font style=LETTER-SPACING:1.55pt> </font>acquired&nbsp;<font style=LETTER-SPACING:0.6pt> </font>the<font style=LETTER-SPACING:1.2pt> </font>information<font style=LETTER-SPACING:0.5pt> </font>under<font style=LETTER-SPACING:2.35pt> </font>an<font style=LETTER-SPACING:1.35pt> </font>obligation&nbsp;<font style=LETTER-SPACING:0.8pt> </font>of confidentiality.</font></p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.5pt 0pt 1.6in; LINE-HEIGHT:108%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in 2.9pt 0pt 1.6in; LINE-HEIGHT:109%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"; LINE-HEIGHT:109%'>10.2&nbsp;&nbsp;&nbsp;&nbsp; The<font style=LETTER-SPACING:1.35pt> </font>Parties <font style=LETTER-SPACING:0.05pt>agree</font><font style=LETTER-SPACING:2.3pt> </font>that<font style=LETTER-SPACING:1.35pt> </font>they<font style=LETTER-SPACING:1.7pt> </font>may<font style=LETTER-SPACING:1.7pt> </font>disclose<font style=LETTER-SPACING:2.55pt> </font>Confidential<font style=LETTER-SPACING:0.15pt> </font>Information<font style=LETTER-SPACING:0.4pt> </font>in<font style=LETTER-SPACING:1.1pt> </font>furtherance<font style=LETTER-SPACING:0.05pt> </font>of<font style=LETTER-SPACING:1.05pt> </font>their common legal interest<font style=LETTER-SPACING:1.9pt> </font>in<font style=LETTER-SPACING:0.15pt> </font>exploring<font style=LETTER-SPACING:2.25pt> </font>business opportunities involving<font style=LETTER-SPACING:2.5pt> </font>the Patent, including litigation<font style=LETTER-SPACING:1.2pt> </font>involving<font style=LETTER-SPACING:0.95pt> </font>the<font style=LETTER-SPACING:1.8pt> </font>Patent.&nbsp;<font style=LETTER-SPACING:0.1pt> </font>Such<font style=LETTER-SPACING:2.55pt> </font>Confidential <font style=LETTER-SPACING:1.15pt>Information</font><font style=LETTER-SPACING:0.9pt> </font>may<font style=LETTER-SPACING:2.3pt> </font>be<font style=LETTER-SPACING:1.45pt> </font>subject to the attorney-client privilege, work product doctrine or other applicable privilege. The Parties understand and agree that it is their desire, intention and mutual understanding that the sharing&nbsp; of such&nbsp; Confidential&nbsp; Information&nbsp; is not&nbsp; intended to, and shall not, waive or diminish in any way the confidentiality of such material or its continued protection under the attorney-client privilege, work product doctrine or other applicable&nbsp; privilege. All Confidential Information provided by a Party that is entitled to protection&nbsp; under the attorney-client&nbsp; privilege, work product doctrine or other applicable&nbsp; privilege&nbsp; shall&nbsp; remain&nbsp; entitled&nbsp; to such protection under these&nbsp; privileges, this Agreement,&nbsp; and under the joint defense doctrine.</font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 2.9pt 0pt 117.3pt; LINE-HEIGHT:109%; TEXT-INDENT:-32.55pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>11 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="MARGIN:0in -1pt 0pt 61.4pt; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>11&nbsp; </strong><strong><u>MUTUAL<font style=LETTER-SPACING:1pt> </font>INDEMNITY</u></strong></font></font></font></font></font></p> <p style="MARGIN:0in -1pt 0pt 61.4pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 2.6pt 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>11.1&nbsp;&nbsp;&nbsp;&nbsp; Each<font style=LETTER-SPACING:1.35pt> </font>Party<font style=LETTER-SPACING:1.25pt> </font>shall<font style=LETTER-SPACING:1.25pt> </font>indemnify<font style=LETTER-SPACING:1.55pt> </font>and<font style=LETTER-SPACING:1.1pt> </font>hold<font style=LETTER-SPACING:0.9pt> </font>harmless<font style=LETTER-SPACING:1.25pt> </font>the<font style=LETTER-SPACING:0.6pt> </font>other<font style=LETTER-SPACING:1pt> </font>Party<font style=LETTER-SPACING:1.6pt> </font>and<font style=LETTER-SPACING:1.2pt> </font>its<font style=LETTER-SPACING:0.6pt> </font>affiliates,<font style=LETTER-SPACING:1.35pt> </font>principals, employees,<font style=LETTER-SPACING:1.1pt> </font>officers,<font style=LETTER-SPACING:0.8pt> </font>directors,<font style=LETTER-SPACING:1.1pt> </font>consultants,<font style=LETTER-SPACING:1pt> </font>stockholders,<font style=LETTER-SPACING:0.55pt> </font>representatives<font style=LETTER-SPACING:1.45pt> </font>and agents, successors&nbsp;<font style=LETTER-SPACING:0.65pt> </font>and<font style=LETTER-SPACING:2.6pt> </font>assigns<font style=LETTER-SPACING:0.25pt> </font>(an<font style=LETTER-SPACING:2.25pt> </font>"Indemnified&nbsp;<font style=LETTER-SPACING:1.4pt> </font>Party")<font style=LETTER-SPACING:2.7pt> </font>from&nbsp;<font style=LETTER-SPACING:0.15pt> </font>and<font style=LETTER-SPACING:2.7pt> </font>against&nbsp; all<font style=LETTER-SPACING:2.4pt> </font>claims,<font style=LETTER-SPACING:2.6pt> </font>disputes, debts,<font style=LETTER-SPACING:0.05pt> </font>controversies, obligations,<font style=LETTER-SPACING:0.95pt> </font>judgments, demands,<font style=LETTER-SPACING:0.25pt> </font>liens, causes of<font style=LETTER-SPACING:2.65pt> </font>action, liability, loss,<font style=LETTER-SPACING:0.2pt> </font>damages,<font style=LETTER-SPACING:0.6pt> </font>costs<font style=LETTER-SPACING:0.6pt> </font>and<font style=LETTER-SPACING:0.3pt> </font>expenses<font style=LETTER-SPACING:0.7pt> </font>(including<font style=LETTER-SPACING:0.5pt> </font>reasonable<font style=LETTER-SPACING:0.45pt> </font>attorneys'<font style=LETTER-SPACING:2pt> </font>fees<font style=LETTER-SPACING:0.3pt> </font>and expenses<font style=LETTER-SPACING:0.4pt> </font>of litigation)<font style=LETTER-SPACING:0.75pt> </font>(collectively,<font style=LETTER-SPACING:0.5pt> </font>"Claims")<font style=LETTER-SPACING:2.5pt> </font>which an<font style=LETTER-SPACING:0.1pt> </font>Indemnified<font style=LETTER-SPACING:0.3pt> </font>Party<font style=LETTER-SPACING:0.75pt> </font>may<font style=LETTER-SPACING:0.3pt> </font>incur, suffer<font style=LETTER-SPACING:0.1pt> </font>or<font style=LETTER-SPACING:0.25pt> </font>be required<font style=LETTER-SPACING:2pt> </font>to<font style=LETTER-SPACING:1.5pt> </font>pay<font style=LETTER-SPACING:1.2pt> </font>resulting<font style=LETTER-SPACING:1.95pt> </font>from<font style=LETTER-SPACING:1.85pt> </font>or<font style=LETTER-SPACING:1.25pt> </font>arising<font style=LETTER-SPACING:1.9pt> </font>in<font style=LETTER-SPACING:1.05pt> </font>connection<font style=LETTER-SPACING:1.7pt> </font>with<font style=LETTER-SPACING:1.5pt> </font>any<font style=LETTER-SPACING:1.85pt> </font>Claims<font style=LETTER-SPACING:1.6pt> </font>arising<font style=LETTER-SPACING:1.55pt> </font>out<font style=LETTER-SPACING:1.05pt> </font>of<font style=LETTER-SPACING:1.45pt> </font>or relating<font style=LETTER-SPACING:2.2pt> </font>to<font style=LETTER-SPACING:1.55pt> </font>any<font style=LETTER-SPACING:1.95pt> </font>breach<font style=LETTER-SPACING:1.95pt> </font>of<font style=LETTER-SPACING:1.75pt> </font>this<font style=LETTER-SPACING:2.15pt> </font>Agreement,<font style=LETTER-SPACING:2.15pt> </font>including<font style=LETTER-SPACING:1.7pt> </font>without<font style=LETTER-SPACING:2.1pt> </font>limitation<font style=LETTER-SPACING:2.3pt> </font>the<font style=LETTER-SPACING:1.75pt> </font>breach<font style=LETTER-SPACING:1.35pt> </font>of<font style=LETTER-SPACING:1.7pt> </font>any representations<font style=LETTER-SPACING:1.35pt> </font>and<font style=LETTER-SPACING:0.5pt> </font>warranties<font style=LETTER-SPACING:1.05pt> </font>set<font style=LETTER-SPACING:0.3pt> </font>forth<font style=LETTER-SPACING:0.45pt> </font>in<font style=LETTER-SPACING:0.35pt> </font>this<font style=LETTER-SPACING:0.4pt> </font>Agreement.</font></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 61.15pt; LINE-HEIGHT:normal"><b><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>12&nbsp; <u>MISCELLANEOUS</u></font></font></font></font></font></b></p> <p style="MARGIN:0.45pt 0in 0pt; LINE-HEIGHT:7.5pt">&nbsp;</p> <p style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0pt 0in 0pt 1.6in; LINE-HEIGHT:103%; TEXT-INDENT:-0.5in"><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>12.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style=LETTER-SPACING:2pt> </font>All<font style=LETTER-SPACING:1.1pt> </font>notices<font style=LETTER-SPACING:1.1pt> </font>or<font style=LETTER-SPACING:0.75pt> </font>communications<font style=LETTER-SPACING:2.05pt> </font>which<font style=LETTER-SPACING:0.9pt> </font>either<font style=LETTER-SPACING:1.3pt> </font>Party<font style=LETTER-SPACING:0.7pt> </font>may<font style=LETTER-SPACING:0.9pt> </font>desire,<font style=LETTER-SPACING:1.4pt> </font>or<font style=LETTER-SPACING:0.95pt> </font>be<font style=LETTER-SPACING:0.85pt> </font>required,<font style=LETTER-SPACING:1pt> </font>to<font style=LETTER-SPACING:0.65pt> </font>give<font style=LETTER-SPACING:0.8pt> </font>or make<font style=LETTER-SPACING:2.1pt> </font>to<font style=LETTER-SPACING:1.8pt> </font>the<font style=LETTER-SPACING:1.6pt> </font>other<font style=LETTER-SPACING:2.05pt> </font>shall<font style=LETTER-SPACING:2.2pt> </font>be<font style=LETTER-SPACING:1.75pt> </font>in<font style=LETTER-SPACING:1.8pt> </font>writing,<font style=LETTER-SPACING:1.9pt> </font>shall<font style=LETTER-SPACING:2pt> </font>be<font style=LETTER-SPACING:1.5pt> </font>communicated&nbsp;<font style=LETTER-SPACING:0.25pt> </font>either<font style=LETTER-SPACING:2.1pt> </font>via<font style=LETTER-SPACING:1.75pt> </font>email,<font style=LETTER-SPACING:2.05pt> </font>with<font style=LETTER-SPACING:1.65pt> </font>a copy<font style=LETTER-SPACING:1.9pt> </font>sent<font style=LETTER-SPACING:1.8pt> </font>via<font style=LETTER-SPACING:1.1pt> </font>regular<font style=LETTER-SPACING:1.95pt> </font>mail,<font style=LETTER-SPACING:1.75pt> </font>or<font style=LETTER-SPACING:1.85pt> </font>via<font style=LETTER-SPACING:1.25pt> </font>overnight<font style=LETTER-SPACING:1.35pt> </font>carrier,<font style=LETTER-SPACING:1.45pt> </font>and<font style=LETTER-SPACING:1.75pt> </font>shall<font style=LETTER-SPACING:2pt> </font>be<font style=LETTER-SPACING:1.5pt> </font>deemed<font style=LETTER-SPACING:1.85pt> </font>to<font style=LETTER-SPACING:1.35pt> </font>have<font style=LETTER-SPACING:1.3pt> </font>been duly<font style=LETTER-SPACING:0.85pt> </font>given<font style=LETTER-SPACING:0.45pt> </font>or<font style=LETTER-SPACING:0.35pt> </font>made<font style=LETTER-SPACING:0.65pt> </font>when<font style=LETTER-SPACING:0.5pt> </font>received,<font style=LETTER-SPACING:0.95pt> </font>at the<font style=LETTER-SPACING:0.4pt> </font>addresses<font style=LETTER-SPACING:0.75pt> </font>and<font style=LETTER-SPACING:0.45pt> </font>to<font style=LETTER-SPACING:0.35pt> </font>the<font style=LETTER-SPACING:0.35pt> </font>persons<font style=LETTER-SPACING:0.55pt> </font>set<font style=LETTER-SPACING:0.55pt> </font>forth<font style=LETTER-SPACING:0.6pt> </font>below: </font></font></font></p> <p style="TEXT-ALIGN:justify; MARGIN:0in 14pt 0pt 119.2pt; LINE-HEIGHT:102%; TEXT-INDENT:-112.5pt" align=justify>&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 161.7pt; LINE-HEIGHT:normal" align=justify><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>If to CTIPAC:</font></p> <p style="MARGIN:0in 233.8pt 0pt 194.05pt; LINE-HEIGHT:10.3pt">&nbsp;</p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>CopyTele, Inc.</font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>900 Walt Whitman Rd.</font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>Melville, NY 11747</font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>Attn: Robert Berman, CEO</font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>rberman@CTIpatents.com</font></p> <p style="MARGIN:0.65pt 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 161.7pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>If to Assignor:</font></p> <p style="MARGIN:0in 210.85pt 0pt 0in; LINE-HEIGHT:105%">&nbsp;</p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>Meetrix Communications, Inc. </font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>c/o AVG Ventures </font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>500 Ygnacio Valley Road </font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>Walnut Creek, CA 94596</font></p> <p style="MARGIN:0in 210.85pt 0pt 194.7pt; LINE-HEIGHT:105%; TEXT-INDENT:1.45pt"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>jamesfbrown@sbcglobal.net</font></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>12 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.6in; LINE-HEIGHT:12.55pt; TEXT-INDENT:-0.5in"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>12.2&nbsp;<font style=LETTER-SPACING:2.25pt>&nbsp;&nbsp; </font>The<font style=LETTER-SPACING:0.4pt> </font>failure<font style=LETTER-SPACING:0.35pt> </font>to<font style=LETTER-SPACING:0.5pt> </font>act<font style=LETTER-SPACING:0.45pt> </font>upon<font style=LETTER-SPACING:0.5pt> </font>any<font style=LETTER-SPACING:0.4pt> </font>default<font style=LETTER-SPACING:0.9pt> </font>hereunder<font style=LETTER-SPACING:0.95pt> </font>shall<font style=LETTER-SPACING:1pt> </font>not<font style=LETTER-SPACING:-0.15pt> </font>be<font style=LETTER-SPACING:0.35pt> </font>deemed<font style=LETTER-SPACING:0.45pt> </font>to<font style=LETTER-SPACING:-0.2pt> </font>constitute<font style=LETTER-SPACING:-0.3pt> </font>a<font style=LETTER-SPACING:0.3pt> </font>waiver of<font style=LETTER-SPACING:-1pt> </font>such<font style=LETTER-SPACING:-0.15pt> </font>default.</font></p> <p style="PADDING-LEFT:0px; MARGIN:0.6pt 0in 0pt 1.6in; LINE-HEIGHT:12pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 17.1pt 0pt 1.6in; LINE-HEIGHT:12.3pt; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This<font style=LETTER-SPACING:1.4pt> </font>Agreement<font style=LETTER-SPACING:1.55pt> </font>constitutes<font style=LETTER-SPACING:1.9pt> </font>the<font style=LETTER-SPACING:1.65pt> </font>entire<font style=LETTER-SPACING:1.35pt> </font>understanding<font style=LETTER-SPACING:2.15pt> </font>of<font style=LETTER-SPACING:1pt> </font>the<font style=LETTER-SPACING:1.4pt> </font>Parties with <font style=LETTER-SPACING:0.2pt>respect</font><font style=LETTER-SPACING:1.35pt> </font>to<font style=LETTER-SPACING:1.05pt> </font>its subject<font style=LETTER-SPACING:0.65pt> </font>matter<font style=LETTER-SPACING:0.8pt> </font>and<font style=LETTER-SPACING:-0.25pt> </font>may<font style=LETTER-SPACING:0.4pt> </font>not<font style=LETTER-SPACING:0.25pt> </font>be<font style=LETTER-SPACING:-0.15pt> </font>modified<font style=LETTER-SPACING:0.15pt> </font>or<font style=LETTER-SPACING:-0.25pt> </font>amended,<font style=LETTER-SPACING:1.25pt> </font>except<font style=LETTER-SPACING:0.1pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>in<font style=LETTER-SPACING:-0.7pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>writing<font style=LETTER-SPACING:-0.55pt> </font>by<font style=LETTER-SPACING:-0.15pt> </font>the<font style=LETTER-SPACING:-0.1pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>Parties.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 17.1pt 0pt 1.6in; LINE-HEIGHT:12.3pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 12.45pt 0pt 1.6in; LINE-HEIGHT:12.1pt; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>12.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If<font style=LETTER-SPACING:1.8pt> </font>for<font style=LETTER-SPACING:0.2pt> </font>any<font style=LETTER-SPACING:0.3pt> </font>reason&nbsp;<font style=LETTER-SPACING:0.6pt> </font>in<font style=LETTER-SPACING:1.75pt> </font>any<font style=LETTER-SPACING:-0.05pt> </font>jurisdiction&nbsp;<font style=LETTER-SPACING:0.75pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>in<font style=LETTER-SPACING:0.3pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>which<font style=LETTER-SPACING:1.75pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>any<font style=LETTER-SPACING:0.4pt> </font>provision&nbsp;<font style=LETTER-SPACING:0.5pt> </font>of<font style=LETTER-SPACING:0.8pt> </font>this<font style=LETTER-SPACING:0.05pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:0.05pt> </font>is sought<font style=LETTER-SPACING:2pt> </font>to<font style=LETTER-SPACING:1.1pt> </font>be<font style=LETTER-SPACING:0.95pt> </font>enforced,<font style=LETTER-SPACING:1.7pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>any<font style=LETTER-SPACING:0.9pt> </font></font>one<font style=LETTER-SPACING:1.4pt> </font>or<font style=LETTER-SPACING:1.25pt> </font>more<font style=LETTER-SPACING:1.15pt> </font>of<font style=LETTER-SPACING:1.7pt> </font>the<font style=LETTER-SPACING:0.6pt> </font>provisions<font style=LETTER-SPACING:2.05pt> </font>of<font style=LETTER-SPACING:2.05pt> </font>this<font style=LETTER-SPACING:1pt> </font>Agreement<font style=LETTER-SPACING:1.7pt> </font>shall<font style=LETTER-SPACING:1.75pt> </font>be held<font style=LETTER-SPACING:0.65pt> </font>invalid,<font style=LETTER-SPACING:0.35pt> </font>illegal<font style=LETTER-SPACING:1pt> </font>or<font style=LETTER-SPACING:1.1pt> </font>unenforceable<font style=LETTER-SPACING:2.15pt> </font>in<font style=LETTER-SPACING:1pt> </font>any<font style=LETTER-SPACING:0.95pt> </font>respect,<font style=LETTER-SPACING:0.95pt> </font>such<font style=LETTER-SPACING:1.25pt> </font>holding<font style=LETTER-SPACING:1.55pt> </font>shall<font style=LETTER-SPACING:0.8pt> </font>not<font style=LETTER-SPACING:1.2pt> </font>affect<font style=LETTER-SPACING:1pt> </font>any other<font style=LETTER-SPACING:1.55pt> </font>provision&nbsp;<font style=LETTER-SPACING:0.05pt> </font>of<font style=LETTER-SPACING:1.75pt> </font>this<font style=LETTER-SPACING:1.15pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:1pt> </font>and<font style=LETTER-SPACING:1.6pt> </font>this<font style=LETTER-SPACING:1.3pt> </font>Agreement<font style=LETTER-SPACING:1.9pt> </font>shall&nbsp;<font style=LETTER-SPACING:0.3pt> </font>be<font style=LETTER-SPACING:1.8pt> </font>construed<font style=LETTER-SPACING:1.2pt> </font>as<font style=LETTER-SPACING:1.5pt> </font>if<font style=LETTER-SPACING:1pt><em> </em></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>such </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>invalid,<font style=LETTER-SPACING:0.3pt> </font>illegal<font style=LETTER-SPACING:0.75pt> </font>or<font style=LETTER-SPACING:0.65pt> </font>unenforceable<font style=LETTER-SPACING:1.5pt> </font>provision<font style=LETTER-SPACING:0.9pt> </font>had<font style=LETTER-SPACING:0.15pt> </font>never<font style=LETTER-SPACING:0.65pt> </font>been<font style=LETTER-SPACING:-0.05pt> </font>contained<font style=LETTER-SPACING:1.8pt> </font>therein.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 12.45pt 0pt 1.6in; LINE-HEIGHT:12.1pt; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 12.5pt 0pt 1.6in; LINE-HEIGHT:94%; TEXT-INDENT:-0.5in" align=justify><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>12.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This&nbsp;<font style=LETTER-SPACING:1.55pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:2.4pt> </font>may<font style=LETTER-SPACING:1.1pt> </font>be&nbsp;<font style=LETTER-SPACING:1.8pt> </font>executed&nbsp;<font style=LETTER-SPACING:1.95pt> </font>in&nbsp;<font style=LETTER-SPACING:1.1pt> </font>several<font style=LETTER-SPACING:-0.65pt> </font>counterparts,&nbsp;<font style=LETTER-SPACING:2.5pt> </font>each&nbsp;<font style=LETTER-SPACING:1.4pt> </font>of&nbsp;<font style=LETTER-SPACING:1.6pt> </font>which&nbsp;<font style=LETTER-SPACING:1.25pt> </font>shall constitute<font style=LETTER-SPACING:0.95pt> </font>an<font style=LETTER-SPACING:1.35pt> </font>original,<font style=LETTER-SPACING:0.4pt> </font>but<font style=LETTER-SPACING:1.25pt> </font>all<font style=LETTER-SPACING:1pt> </font>of<font style=LETTER-SPACING:1.1pt> </font>which<font style=LETTER-SPACING:0.8pt> </font>together shall<font style=LETTER-SPACING:0.95pt> </font>constitute<font style=LETTER-SPACING:2.4pt> </font>one<font style=LETTER-SPACING:0.5pt> </font>and<font style=LETTER-SPACING:1.35pt> </font>the<font style=LETTER-SPACING:0.15pt> </font>same instrument.<font style=LETTER-SPACING:2.45pt> </font>A<font style=LETTER-SPACING:2.2pt> </font>faxed&nbsp;<font style=LETTER-SPACING:0.15pt> </font>copy&nbsp;<font style=LETTER-SPACING:0.15pt> </font>of<font style=LETTER-SPACING:2.4pt> </font>a<font style=LETTER-SPACING:2.1pt> </font>signature<font style=LETTER-SPACING:2.5pt> </font>page&nbsp;<font style=LETTER-SPACING:0.15pt> </font>shall<font style=LETTER-SPACING:1.9pt> </font>be&nbsp;<font style=LETTER-SPACING:0.15pt> </font>considered&nbsp;<font style=LETTER-SPACING:0.75pt> </font>an<font style=LETTER-SPACING:2.45pt> </font>original for<em> </em><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>purposes<font style=LETTER-SPACING:0.75pt> </font>of<font style=LETTER-SPACING:0.3pt> </font>this<font style=LETTER-SPACING:0.45pt> </font>Agreement.</font></font></font></font></font></font></p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 12.5pt 0pt 1.6in; LINE-HEIGHT:94%; TEXT-INDENT:-0.5in">&nbsp;</p> <p style="TEXT-ALIGN:justify; PADDING-LEFT:0px; MARGIN:0in 12.35pt 0pt 1.6in; LINE-HEIGHT:93%; TEXT-INDENT:-0.5in"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>12.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The headings contained<font style=LETTER-SPACING:0.55pt> </font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>in<font style=LETTER-SPACING:0.1pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>this<font style=LETTER-SPACING:0.25pt> </font></font><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'>Agreement<font style=LETTER-SPACING:0.9pt> </font>have<font style=LETTER-SPACING:-0.05pt> </font>been<font style=LETTER-SPACING:0.3pt> </font>inserted<font style=LETTER-SPACING:1.85pt> </font>for<font style=LETTER-SPACING:0.5pt> </font>convenient<font style=LETTER-SPACING:1.1pt> </font>reference only&nbsp;<font style=LETTER-SPACING:0.2pt> </font>and&nbsp;<font style=LETTER-SPACING:0.6pt> </font>shall&nbsp;<font style=LETTER-SPACING:0.75pt> </font>not&nbsp;<font style=LETTER-SPACING:0.25pt> </font>modify, define, expand&nbsp;<font style=LETTER-SPACING:0.75pt> </font>or&nbsp;<font style=LETTER-SPACING:0.15pt> </font>limit&nbsp;<font style=LETTER-SPACING:0.95pt> </font>any<font style=LETTER-SPACING:1.15pt> </font>of&nbsp;<font style=LETTER-SPACING:0.6pt> </font>the&nbsp;<font style=LETTER-SPACING:0.4pt> </font>provisions&nbsp;<font style=LETTER-SPACING:0.7pt> </font>of&nbsp;<font style=LETTER-SPACING:0.3pt> </font>this Agreement.</font></font></font></font></font></p> <p style="MARGIN:0.05pt 0in 0pt; LINE-HEIGHT:7pt">&nbsp;</p></font> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'> <p style="PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.1in; LINE-HEIGHT:normal"><font style='FONT-FAMILY:"Times New Roman","Times New Roman"'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><strong>IN&nbsp;<font style=LETTER-SPACING:0.1pt> </font>WITNESS WHEREOF,</strong><font style=LETTER-SPACING:1.55pt> </font>the&nbsp;<font style=LETTER-SPACING:0.05pt> </font>Parties&nbsp;<font style=LETTER-SPACING:0.7pt> </font>have<font style=LETTER-SPACING:2.3pt> </font>executed&nbsp;<font style=LETTER-SPACING:0.85pt> </font>this<font style=LETTER-SPACING:1.8pt> </font>Agreement&nbsp;<font style=LETTER-SPACING:0.95pt> </font>on&nbsp;<font style=LETTER-SPACING:0.35pt> </font>the&nbsp;<font style=LETTER-SPACING:0.15pt> </font>date<font style=LETTER-SPACING:2.4pt> </font>first&nbsp;<font style=LETTER-SPACING:0.5pt> </font>written above.</font></font></font></font></font></p></font><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt" align=left> <p style="PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0in -1pt 0pt 1.1in; LINE-HEIGHT:normal"> <table bordercolor=transparent cellspacing=0 align=left> <tr> <td><font style=FONT-SIZE:11pt><strong>Meetrix Communications, Inc.</strong></font></td> <td><font style=FONT-SIZE:11pt><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </strong></font></td> <td><font style=FONT-SIZE:11pt><strong>CTIPATENT ACQUISITION </strong></font></td></tr> <tr> <td><font style=FONT-SIZE:11pt><strong>&nbsp; </strong></font></td> <td> <td><font style=FONT-SIZE:11pt><strong>CORPORATION</strong></font></td></tr> <tr> <td><font style=FONT-SIZE:11pt>&nbsp; </font></td> <td> <td><font style=FONT-SIZE:11pt>&nbsp; </font></td></tr> <tr> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>By:<u>/s/ James Brown&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td> <td> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>By:<u>/s/ Robert A. Berman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </u></font></font></font></td></tr> <tr> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Printed Name:<u> James Brown&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td> <td> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Printed Name:<u>Robert A. Berman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td></tr> <tr> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Title:<u>Chairman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td> <td> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Title:<u>President and CEO&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td></tr> <tr> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Date:<u>11/11/13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></font></td> <td> <td><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>Date:<u>11/11/13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></font></td></tr></table></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt" align=left>&nbsp;</p></font> <p style="MARGIN:0.6pt 0in 0pt; LINE-HEIGHT:12pt">&nbsp;</p></div> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>13 </font></p><font style=FONT-SIZE:11pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div> <p style="TEXT-ALIGN:center; MARGIN:1.55pt 195.15pt 0pt 2.5in; LINE-HEIGHT:12.4pt" align=center><font style='FONT-FAMILY:"Times New Roman","Times New Roman"; POSITION:relative; TOP:0.5pt'><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt><font style=FONT-SIZE:11pt>&nbsp;<u>Exhibit A</u></font></font></font></font></font></p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="MARGIN:1.55pt -1pt 0pt 60.45pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S. Patent Ser.No.7,444,425</font></p> <p style="MARGIN:0.5pt -1pt 0pt 60.45pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S. Patent Ser.No.8,477,778</font></p> <p style="MARGIN:0.65pt 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p> <p style="MARGIN:0in -1pt 0pt 60.45pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S. Patent Ser.No.7,664,056</font></p> <p style="MARGIN:0.7pt -1pt 0pt 60.45pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S. Patent Ser.No.8,339,997</font></p> <p style="MARGIN:0.25pt 219.8pt 0pt 60.45pt; LINE-HEIGHT:105%"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S. Patent Application No.13/674,227(pending) </font></p> <p style="MARGIN:0.25pt 219.8pt 0pt 60.45pt; LINE-HEIGHT:105%"><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>U.S.Patent Application No.13/674,233(pending)</font></p> <p style="MARGIN:0.05pt 0in 0pt; LINE-HEIGHT:6pt">&nbsp;</p> <p style="MARGIN-BOTTOM:0pt; LINE-HEIGHT:10pt">&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 3.35pt 0pt 0in; LINE-HEIGHT:102%" align=center><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","Times New Roman"'>14</font></p></div></div></div></div></div></div></div></div></div></body>
<!-- EDGAR Validation Code: 5A570548 -->
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>f51_egs.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 f51_egs.jpg
M_]C_X  02D9)1@ ! 0$ R #(  #_X0"R17AI9@  34T *@    @ !P$^  4
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M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" )7 ^@# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M10 4444 %5KFW#*7488?K5FBDU<#'HI\J[)67T/%,K(D**** "BBB@ HHHH
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MF5G)68F%6;+_ %Y]UJM4]H<7"^^:2W$:-%%%:E!1110 4444 %%%% !1110
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M]*(;@B6BBBM!A1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110!0O?]>/]W^IJM5F]_UX_P!W^IJM64MR0HHHI %%
M%% !1110!I6O_'LGX_SJ:H;7_CV3\?YU-6JV*"BBBF 4444 %%%% !1110 4
M444 %(0&!!Y!ZTM% %5K)">&8>U/CM8XVW<DCIFIZ*5D 4444P"BBB@ HHHH
M **** "FNP12QZ"G52O9.D8^II-V0%:1S(Y8]Z;1161(4444 %%%% !2@$D
M=3258M$W3;CT6A:L"[&@CC51VI]%%;%!1110 4444 %%%% !1110 4444 %%
M%% !1110 4444 %%%% !5&]3#AQWX-7J1E5UPP!%)JZ R*L69Q/CU%6#9Q9_
MB_.I4B2,?*N/>I47<5A]%%%6,**** "BBB@ HHHH *S[W_7CV6M"J%Y_K_\
M@-3+83*U%%%9B"BBB@ HHHH EMY/+E!/W3P:TZQZNVL^X"-NHZ>]7%]!HMT4
M458PHHHH **** "BBB@ HHHH *@>UB<YP5/M4]%%K@5ULXE.3EOK5BBBDE8
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M %:%HFV$'^\<U0QDX%:RJ%4*.PQ506HT+1116@PHHHH **** "BBB@ HHHH
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MTS7:12I/"DL3AXW4,K \$'H:<:D9_"QQDI;$E%-=U1&=V"JHR23@ 5SEUXM
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M_P"1HI7]FKA3OR:G(?#7_D'7W_75?Y5V]<1\-?\ D'WW_75?Y5V]%#^&@I?
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MX8,WTR .*N445HE8H****8!1110 4444 %%%% !1110 4444 %%%% !1110
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M&WPJ?;FI*K61S$1Z&K-:K8H****8!1110 4444 %%%% !1110 4444 %%%%
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M]8M6)"BBB@ HHHH **** +EB>7'TJY5*Q^^_TJ[6D=AH****H84444 %%%%
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MQ$Q]35FM8[%(****8!1110 4444 %%%% !1110 4444 %%%% !1110 4444
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MZOH*AJ'+L*X4445(@HHHH *DBB:5\#\32PP-*?1>YK0CC6-=JCBJ4;C!$6-
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M** "BI$@D?HI^IJPED!R[9]A32; J!2QPH)-6XK/O)^56E14&%4"G5:B.P@
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
144 %%%% !1110 4444 ?_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
