<SEC-DOCUMENT>0001753926-20-000107.txt : 20200507
<SEC-HEADER>0001753926-20-000107.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200507171957
ACCESSION NUMBER:		0001753926-20-000107
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLEARONE INC
		CENTRAL INDEX KEY:			0000840715
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE & TELEGRAPH APPARATUS [3661]
		IRS NUMBER:				870398877
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-238085
		FILM NUMBER:		20857679

	BUSINESS ADDRESS:	
		STREET 1:		5225 WILEY POST WAY
		STREET 2:		SUITE 500
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84116
		BUSINESS PHONE:		8019757200

	MAIL ADDRESS:	
		STREET 1:		5225 WILEY POST WAY
		STREET 2:		SUITE 500
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEARONE COMMUNICATIONS INC
		DATE OF NAME CHANGE:	20020204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GENTNER COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GENTNER ELECTRONICS CORP
		DATE OF NAME CHANGE:	19910808
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>g081971_s3.htm
<DESCRIPTION>S-3
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">As filed with the Securities and Exchange Commission on </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">May 7</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, 20</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">20</font></p>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Registration No.</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> 333-</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Washington, D.C. 20549</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">FORM</font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">S-3</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">REGISTRATION STATEMENT UNDER</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">THE SECURITIES ACT OF 1933</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">CLEARONE, INC.</font></font></p>
<p style="margin: 0pt; text-align: center;"><font><font style="font-family: 'Times New Roman'; font-size: 8pt;">(Exact name of registrant as specified in its charter)</font></font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">DELAWARE</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">87-0398877</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(State or Other Jurisdiction of Incorporation or</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt;">Organization)</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(I.R.S. Employer Identification Number)</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">5225 Wiley Post Way</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Suite 500</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Salt Lake City, Utah 84116</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">(801) 975-7200</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">(Address, including zip code, and telephone number, including</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">area code, of registrant&#8217;s principal executive offices)</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Zeynep </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Hakimoglu</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">President and Chief Executive Officer</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">, Inc.</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">5225 Wiley Post Way, Suite 500</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Salt Lake City, Utah 84116</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">(</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">801) 975-7200</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">(Name, address, including zip code, and telephone number,</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">including area code, of agent for service)</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Copies to:</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Michael Dunn</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">,</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Esq.</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Seyfarth Shaw LLP</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">700 Milam Street, Suite 1400</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Houston, TX 77002</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">(</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">713) 238-1817</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<hr style="border: none; color: #808080; height: 1px; text-align: center; width: 25%;"></hr>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; line-height: inherit;">Approximate date of commencement of proposed sale to the public: From time to time after this registration statement becomes effective.</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If the only securities being registered on this form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61551;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, please check the following box.</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61560;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If this form is filed to register additional securities for an offering pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">462(b)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">under the Securities Act of 1933, 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-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61551;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If this form is a post-effective amendment filed pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">462(c)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">under the Securities Act of 1933, check the following box and list the Securities Act registration number of the earlier effective registration statement for the same offering. </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61551;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If this Form</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">462(e)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">under the Securities Act of 1933, check the following box.</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61551;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 18pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">If this Form</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">413(b)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">under the Securities Act of 1933, check the following box.</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt; line-height: inherit;">&#61551;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 2pt; line-height: inherit;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 58%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Large accelerated filer</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt;">&#61551;</font></p>
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<td style="vertical-align: bottom; width: 2%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 40%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Accelerated filer</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt;">&#61551;</font></p>
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<td style="vertical-align: top; width: 58%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 4pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 2%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 4pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 40%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 4pt;">&nbsp;</font></p>
</td>
</tr>
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<td style="vertical-align: top; width: 58%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Non-accelerated filer</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt;">&#61560;</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; width: 2%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 40%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Smaller reporting company</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt;">&#61560;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">Emerging growth company</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: Wingdings; font-size: 8pt;">&#61551;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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</table>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">CALCULATION OF REGISTRATION FEE</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 0.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 13.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 14.88%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td colspan="2" style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 16%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 4.12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 29.1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Title</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">of</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Each</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Class</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">of</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">to</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Be</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Registered</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 0.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 13.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amount</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">to</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Be</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Registered</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">(1</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)</font></p>
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<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 2.6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 14.88%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Proposed</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maximum</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Offering</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Price</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Per</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Security</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">2</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">3</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 2.1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Proposed</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maximum</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Aggregate</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Offering</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Price</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">2</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">3</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 2.12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 16%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amount</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">of</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Registration</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fee</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">2</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">3</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">)</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: bottom; width: 4.12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: top; width: 29.1%;">
<p style="margin: 0pt 0pt 0pt 10.1pt; text-indent: -10.1pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Common Stock ($0.001 par </font><font style="font-family: 'Times New Roman'; font-size: 8pt;">value)</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">(</font><font style="font-family: 'Times New Roman'; font-size: 5.33pt; vertical-align: super;">1)(2)</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">:</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 0.6%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 13.6%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">1,762,710</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.6%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 14.88%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">$1.</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">6</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">5</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 1.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 13.7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">$</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">2,908,471.5</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">0</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 2.12%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 16%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">$</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">7.52</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: double; border-bottom-width: 2.25pt; vertical-align: bottom; width: 4.12%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 59px; width: 100%;" width="100%">

<tr style="height: 25px;">
<td style="vertical-align: top; width: 2.56%; height: 25px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(1)</font></p>
</td>
<td style="vertical-align: top; width: 0.5%; height: 25px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 96.94%; height: 25px;">
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">This Registration Statement registers </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">the resale of </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">1,421,801</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;"> shares of common stock of </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">, Inc. issuable upon </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">conversion of issued and outstanding secured convertible notes and 340,909 shares of common stock of </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">, Inc. issuable upon </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">exercise of </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">issued and outstanding </font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">warrants. This Registration Statement also relates to such additional securities (</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">to be offered or issued in connection with any provision of any securities purported to be registered hereby to be offered pursuant to terms which provide for a change in the amount of securities being offered or issued to prevent dilution resulting from stock splits, stock dividends, or similar transactions and (ii)</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">of the same class as the securities covered by this Registration Statement issued or issuable prior to completion of the distribution of the securities covered by this Registration Statement as a result of a split of, or a stock dividend on, the registered securities</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">.</font></p>
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</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 2.56%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(2</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">)</font></p>
</td>
<td style="vertical-align: top; width: 0.5%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 96.94%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">In U.S. dollars or the equivalent thereof denominated in one or more foreign currencies or units of two or more foreign currencies or composite currencies.</font></p>
</td>
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<tr style="height: 17px;">
<td style="vertical-align: top; width: 2.56%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">)</font></p>
</td>
<td style="vertical-align: top; width: 0.5%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 96.94%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(c) under the Securities Act. The price per share and aggregate offering price are based on the average of the high and low sales prices of the common stock on </font><font style="font-family: 'Times New Roman'; font-size: 8pt;">May </font><font style="font-family: 'Times New Roman'; font-size: 8pt;">4</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">, 2020</font><font style="font-family: 'Times New Roman'; font-size: 8pt;">, as reported on The NASDAQ Capital Market.</font></p>
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</table>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 2pt;">&nbsp;</font></p>
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 3pt; border-top-color: #000000; border-top-style: solid; border-top-width: 1pt; margin: 0pt 6pt;"><font style="font-family: 'Times New Roman'; font-size: 1pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 4pt;">&nbsp;</font></p>
<hr style="border: none; color: #808080; height: 3px; text-align: left; width: 100%;"></hr>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">We hereby amend this registration statement (the &#8220;Registration Statement&#8221;) on such date or dates as may be necessary to delay its effective date until we shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8(a), may determine.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC"></a><br></div>
</div>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt 4pt; text-align: justify; padding: 3pt; border: 1pt solid #ff0000;"><font style="color: #f93f26; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">The information contained in this prospectus is not complete and may be changed. The selling stockholder named in this prospectus may not sell these securities until the Registration Statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and is not a solicitation of offers to buy these securities in any jurisdiction where such offer or sale is not permitted.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="color: #ff0000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Subject to Completion, Dated </font><font style="color: #ff0000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">May 7</font><font style="color: #ff0000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">, 2020</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">PROSPECTUS</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CLEARONE, INC.</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1,762,710 Shares of Common Stock</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><br></font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">This prospectus relates to the possible resale, from time to time, by the selling stockholder identified in this prospectus of up to 1,762,710 shares of our common stock, par value $0.001 per share, initially issued in a private placement transaction.&nbsp; 1,421,801 </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">of the shares offered by this prospectus are issuable upon conversion of $3,000,000 outstanding principal amount of secured convertible notes that are convertible to shares of common stock at an initial conversion price of $2.11 per share. 340,909 of the shares offered by this prospectus are issuable upon </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">exercise of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">outstanding common stock </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">warrants</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> with an initial exercise price of $1.76 per share</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The selling stockholder may offer the shares from time to time as </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">such</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> selling stockholder may determine through public or private transactions or through other means described in the section entitled &#8220;Plan of Distribution&#8221; or a supplement to this prospectus. </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> selling stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">also sell shares under Rule 144 under the Securities Act of 1933, as amended, if available, rather than under this prospectus.</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The registration of these shares does not necessarily mean that </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the selling stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> will sell any of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">its</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> shares or</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> convert any portion of the secured convertible notes or exercise its</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> warrants. We are not offering for sale any shares of our common stock pursuant to this prospectus. We will not receive any cash proceeds from the sale of any of our shares of common stock by the selling stockholder, but we have agreed to pay certain registration expenses.</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Our common stock is listed on The NASDAQ Capital Market under the symbol &#8220;CLRO.&#8221; The closing price of our common stock as reported on The NASDAQ Capital Market on May</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;6</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> 2020 was </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">$</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">1.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">77</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">per share. </font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">You should carefully read and consider the risk factors under Part</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">I,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 1A contained in our most recent Annual Report on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">10-K for risks relating to investments in our securities, as such risk factors may be supplemented or amended from time to time under Part</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">II,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 1A of our Quarterly Reports on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">10-Q.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Our mailing address and telephone number are:</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5225 Wiley Post Way</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Suite 500</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Salt Lake City, Utah 84116</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(801) 975-7200</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or </font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">passed upon the accuracy or completeness of this prospectus</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">. Any representation to the contrary is a criminal offense.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The date of this prospectus is&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2020</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ABOUT THIS PROSPECTUS</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In considering any decision regarding an investment in the shares which are the subject of this prospectus, you should rely only upon the information contained in this prospectus and the information that we incorporate by reference into this prospectus. We have not authorized any persons to provide you with information which is different from the information contained in this prospectus or the information that we incorporate by reference into this prospectus. We take no responsibility for</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">and can provide no assurances as to the reliability of, any other information that you may obtain from other sources. The information contained in this prospectus is accurate only as of the date on the front cover of this prospectus. Any and all information that we incorporate by reference is accurate only as of the date of the referenced document so incorporated.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">This prospectus is an offer to sell only the securities that are offered hereby, and only where it is lawful to do so. This prospectus does not offer to sell, or ask for offers to buy, any shares of our common stock in any state or jurisdiction (within or outside the United States) where it would not be lawful or where the person making the offer is not qualified to do so.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">This prospectus is part of a registration statement that we filed with the U.S. Securities and Exchange Commission (the "SEC"). Please carefully read both this entire prospectus together with all information that we incorporate by reference. See the section of this prospectus under the caption: "Incorporation of Certain Information by Reference."</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Except as otherwise indicated herein or as the context otherwise requires, references in this prospectus to "</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">," "CLRO," "the Company," "we," "us," "our," and similar references refer to </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Inc. and its subsidiaries. </font></p>
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<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">This prospectus and the documents we incorporate by reference into this prospectus may contain forward-looking statements within the meaning of Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">27A of the Securities Act of 1933, as amended, and Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">21E of the Securities Exchange Act of 1934, as amended, about the Company and its subsidiaries. We intend the coverage of our forward-looking statements to be within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, and can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "could," "should," "projects," "plans," "goal," "targets," "potential," "estimates," "pro forma," "seeks," "intends," or "anticipates" or the negative form of these terms or comparable qualifying words. The basis for our forward-looking statements includes our current expectations and </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a number of</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> known and unknown risks and uncertainties that could cause actual outcomes to differ materially from our forward-looking statements. We caution readers not to place undue reliance on our forward-looking statements. </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In light of</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> inherent uncertainties in forward-looking statements, the reader should not interpret inclusion of these statements as any representation by us or any other person that we will achieve or accomplish any of the matters expressed within the scope of any of our forward-looking statements. We assume no obligation to publicly update or revise our forward-looking statements or to advise of any changes regarding the basis of our assumptions and other factors relating to the forward-looking statements.</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">For further information on factors which could impact us and the statements contained herein, see the &#8220;Risk Factors&#8221; under Part</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">I,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Item 1A in our most recent Annual Report on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10-K for risks relating to investments in our securities, as such risk factors may be supplemented or amended from time to time under Part</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">II,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Item 1A of our Quarterly Reports on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10-Q.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">WHERE YOU CAN FIND MORE INFORMATION</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We are an SEC reporting company and file annual, quarterly and current reports, proxy statements and other information with the SEC. We have filed with the SEC a registration statement on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">S-1 under the Securities Act, with respect to the Common Stock and subscription rights being offered under this prospectus. This prospectus </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">does not contain </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">all of</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> the information set forth in the registration statement and the exhibits to the registration statement. For further information with respect to us and the securities being offered under this prospectus, we refer you to the complete registration statement and the exhibits and schedules filed as a part of the registration statement. You may read and copy the registration statement, as well as our reports, proxy statements and other information, at the SEC's Public Reference Room at 100</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the Public Reference Room. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC's Internet site can be found at</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">http://www.sec.gov</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">. You can also obtain copies of materials we file with the SEC from our Internet website found at</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">http://www.clearone.com/</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">. The information contained in our website is not a part of this prospectus.</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">INCORPORATION OF CERTAIN</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> INFORMATION BY REFERENCE</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The SEC allows us to "incorporate by reference" information into this prospectus, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The documents incorporated by reference into this prospectus contain important information that you should read about us. The following documents are incorporated by reference into this prospectus:</font></p>
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<td style="width: 28.72px; height: 18px; vertical-align: top;" valign="top"><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">(a)</font><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">&nbsp;</font><br></td>
<td style="width: 995.12px; height: 18px;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">our Annual Report on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10-K for the fiscal year ended December 31, 201</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">9</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, as filed with the SEC on</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;March 30</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 2020</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">;</font><br></td>
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<td style="width: 28.72px; height: 18px; vertical-align: top;" valign="top"><font style="font-family: 'Times New Roman';">(b)</font><br></td>
<td style="width: 995.12px; height: 18px;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">our Current Reports on Form 8-K, as filed with the SEC on January&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">2, 2020</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;(Item</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">5.0</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">7) and February 3, 2020 (Items 1</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.01</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;and 9.01</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">);</font><br></td>
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<td style="width: 28.72px; height: 18px; vertical-align: top;" valign="top"><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">(c</font><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">)</font><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">&nbsp;</font><br></td>
<td style="width: 995.12px; height: 18px;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">our definitive proxy statement on Schedule 14A as filed with the SEC on&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">December 11, 2019</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">; and</font><br></td>
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<td style="width: 28.72px; height: 19px; vertical-align: top;" valign="top"><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">(d</font><font style="font-size: 10pt; font-family: 'Times New Roman'; line-height: inherit;">)</font><br></td>
<td style="width: 995.12px; height: 19px;"><font style="font-family: 'Times New Roman';">the description of our common stock set forth in our definitive proxy statement on Schedule 14A as filed with the SEC on September 24, 2018.</font><br></td>
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<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">All documents subsequently filed by us (other than current reports furnished under Item</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">2.02 or Item</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">7.01 of Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">8-K and exhibits filed on such form that are related to such items unless such Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">8-K expressly provides to the contrary) with the SEC pursuant to Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, including those made after the date of the initial filing of the registration statement of which this prospectus forms</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a part and prior to effectiveness of such registration statement, until we file</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a post-effective amendment that indicates the termination of the offering of the Common Stock made by this prospectus, are deemed to be incorporated by reference into this prospectus. Such future filings will become a part of this prospectus from the respective dates that such documents are filed with the SEC.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that such statement contained herein or in any other subsequently filed document, which is also incorporated or deemed to be incorporated herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.</font></p>
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<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The documents incorporated by reference into this prospectus are also available on our corporate website at</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">http://www.clearone.com</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">under the heading "Investor Relations." Information contained on, or that can be accessed through, our website is not part of this prospectus, and you should not consider information on our website to be part of this report unless specifically incorporated herein by reference You may obtain copies of any or all of the documents incorporated by reference in this prospectus from us free of charge by requesting them in writing or by telephone at the following address:</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Inc.</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">5225 Wiley Post Way, Suite 500</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Salt Lake City, UT 84116</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(801-975-7200</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><br></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">INFORMATION ABOUT&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">THE COMPANY</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We were incorporated in Utah in 1983 and reincorporated in Delaware on October 25, 2018. The Company is headquartered in Salt Lake City, Utah. The Company has other locations in Gainesville, Florida; Austin, Texas; Zaragoza, Spain; Chennai, India; and Dubai, United Arab Emirates.</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We have been a global market leader enabling conferencing, collaboration, and network streaming solutions. We design, develop and sell conferencing, collaboration and network streaming solutions for voice and visual communications. The performance and simplicity of our advanced comprehensive solutions offer unprecedented levels of functionality, reliability and scalability.</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Our comprehensive line of high-quality conferencing and collaboration products are targeted for</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">large, medium and small businesses, as well as for personal use. We</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">have been</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a global market leader in the installed professional </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">audio conferencing</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> market, where our products are used in numerous industries such as enterprise, healthcare, education, government, legal and finance.</font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We have an established history of product innovation and plan to continue to apply our expertise in audio, video and networked AV to design, develop and introduce innovative new products and enhance our existing products. Our end-users range from some of the world&#8217;s largest and most prestigious companies and institutions to small and medium-sized businesses, higher education and government organizations, as well as individual consumers. We sell our commercial products to these end-users through a global network of independent distributors who, in turn, sell our products to dealers, systems integrators and other value-added resellers. We also sell directly to dealers, systems integrators and other value-added resellers. Our solutions save end-users time and money by creating a natural environment for collaboration and communication. Our partners, who are involved in system integration are benefitted with simpler</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">project design and support costs</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">with our products designed and built to work with each other seamlessly.</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Additional information about the Company can be found in our periodic and current reports that we file with the SEC.&nbsp; See &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Certain Information </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">By</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> Reference.&#8221;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1; text-indent: 24pt;"><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">RISK FACTORS</font></p>
<p style="margin: 0pt; text-indent: 48pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">An investment in our securities involves risks. We urge you to consider carefully the risks identified under &#8220;Item IA. Risk Factors&#8221; in our Annual Report on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10-K for the year ended December</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">31, 2019, filed with the SEC on </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">March 30</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 2020, which report is incorporated by reference in this prospectus, as such information may be amended, supplemented or superseded from time to time by other reports that we subsequently file with the SEC. </font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">USE OF PROCEEDS</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We will not receive any cash proceeds from the sale of shares of our common st</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ock by the selling stockholder </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">pursuant to this pros</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">pectus. The selling stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> will bear any underwriting commissions and discounts attributable to</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> its</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> sale of shares of our common stock. </font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center; line-height: 1;"><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">SELLING STOCKHOLDER</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">On December 8, 2019, </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the Company </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">and certain of its subsidiary guarantors (the &#8220;Guarantors&#8221;) entered into a Note Purchase Agreement with Edward D. Bagley (the &#8220;Note Purchase Agreement&#8221;) pursuant to which Mr. Bagley has agreed to purchase $3,000,000 of secured convertible notes of the Company (the &#8220;Notes&#8221;) and warrants (the &#8220;Warrants&#8221;) to purchase 340,909 shares</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> (the &#8220;Warrant Shares&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> of common stock, par value $0.001 per share, of the Company (the &#8220;Common Stock&#8221;) in a private placement transaction (the &#8220;Offering&#8221;).&nbsp; </font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">On December 17, 2019, the Company completed the i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ssuance and sale of</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> the</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> Notes</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> to Mr. Bagley</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> in the aggregate principal amount of $</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">3,000,000</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> and issued the Warrants to Mr. Bagley</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> The Notes were issued with original </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">issuer</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> discount of 1.5%, or $45,000, for aggregate consideration of $2,955,000.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> The Notes will mature </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">on December 17, 2023</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> (the &#8220;Maturity Date&#8221;) and will earn interest at a variable rate adjusted on a quarterly basis and equal to two and one-half percent (2.5%) over the greater of (x) five and one-quarter percent (5.25%) and (y) the Prime Rate as published in the Wall Street Journal (New York edition) as of the beginning of such calendar quarter.&nbsp; The Notes may be converted into shares of the Company&#8217;s Common Stock</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(the &#8220;Conversion Shares&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> at any time at the election of Mr. Bagley at an initial conversion price of $2.11 per share (the &#8220;Conversion Price&#8221;), or 120% of the closing price of the Common Stock on December 6, 2019 as reported on the Nasdaq Capital Market. Also, the Company can cause a mandatory conversion of the Notes if the volume weighted average closing price of the Common Stock over 90 consecutive trading days exceeds 200% of the Conversion Price. In addition, the Notes may be redeemed by the Company for cash at any time after the </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">one year</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> anniversary of the date of issuance of the Notes upon payment of the outstanding principal balance of the Notes and any unpaid and accrued interest.&nbsp; The Company also is required to redeem the Notes upon the occurrence of a change in control of the Company.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The Warrants have an initial exercise price equal to $1.76, the closing price of the Common Stock on December 6, 2019 as reported on the Nasdaq Capital M</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">arket, and will be exercisable until December 17, 2026</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.&nbsp; The Warrants must be exercised for cash, unless at the time of exercise there is not a then effective registration statement for the resale of the shares of Common Stock issuable upon exercise of the Warrants, in which case the Warrants may be exercised via a cashless exercise feature that provides for net settlement of the shares of Common Stock issuable upon exercise.</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">This prospectus registers the resale by Mr. Bagley of the Conversion Shares and Warrant Shares that may be issued to him from time to time upon his conversion of Notes or exercise of Warrants, respectively.&nbsp; Mr. Bagley is an affiliate of the Company and he may be deemed to be an underwriter with respect to the securities offered by this prospectus as such term is defined in Section 2(a)(11) of the Securities Act. </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The table below describes the selling stockholder&#8217;s beneficial ownership of our common stock (</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">as of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">April 30</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 2020, and (ii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">assuming the selling stockholder has converted all of the Notes and exercised all of the Warrants to purchase shares of our common stock and resold all such shares of common stock pursuant to this prospectus. The selling stockholder may sell some, all or none of its shares in this offering. </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">Beneficial Ownership Prior to this&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">Offering <sup>(1)</sup></font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">Beneficial Ownership After this&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold; line-height: inherit;">Offering<sup> (1)</sup></font></p>
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<p style="border-bottom: 1pt solid #000000; margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Name and Address of Selling Stockholder</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Number</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">of</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Shares&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">of Common</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Stock <sup>(2)</sup></font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="2" style="border-bottom: 1pt solid #000000; vertical-align: bottom; width: 13.4656%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Percentage of</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Common</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Stock<sup>(</sup></font><sup><font style="font-family: 'Times New Roman'; line-height: inherit;">2)</font></sup></p>
</td>
<td style="vertical-align: bottom; width: 0.850461%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="2" style="border-bottom: 1pt solid #000000; vertical-align: bottom; width: 13.3947%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Number</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">of</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Shares&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">of Common</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Stock<sup> (2)</sup></font></p>
</td>
<td style="vertical-align: bottom; width: 1.27569%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="2" style="border-bottom: 1pt solid #000000; vertical-align: bottom; width: 13.5365%;">
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Percentage of</font><br><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Common</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">Stock<sup>(</sup></font><sup><font style="font-family: 'Times New Roman'; line-height: inherit;">2)</font></sup></p>
</td>
<td style="vertical-align: bottom; width: 1.34656%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; line-height: inherit;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 22.6542%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: -10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Edward D. Bagley</font></p>
</td>
<td style="vertical-align: bottom; width: 4.03046%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 17.4345%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">7,425,320</font></p>
</td>
<td style="vertical-align: bottom; width: 1.20482%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 1.27569%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 11.7647%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">44.6%</font></p>
</td>
<td style="vertical-align: bottom; width: 1.70092%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 0.850461%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 12.1899%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">7,766,229</font></p>
</td>
<td style="vertical-align: bottom; width: 1.20482%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 1.27569%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 3.18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 11.8356%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">49.9</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">%</font></p>
</td>
<td style="vertical-align: bottom; width: 1.70092%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 1.34656%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 3.75pt;">
<td style="vertical-align: middle; width: 22.6542%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="4" style="vertical-align: middle; width: 23.9455%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="4" style="vertical-align: middle; width: 17.4961%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="4" style="vertical-align: middle; width: 17.8504%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td colspan="4" style="vertical-align: middle; width: 18.0631%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 6pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="display: none; font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="vertical-align: top; width: 4%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(1)</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Beneficial ownership is determined in accordance with Rule 13d-3(d) promulgated by the SEC under the Exchange Act. In calculating the number of shares beneficially owned by the selling stockholder prior to and after this offering, we have based our calculations on 16,650,725 shares of common stock outstanding as of April 30, 2020. </font></p>
</td>
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<p style="margin: 0pt; line-height: 1;"><font style="display: none; font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 4%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(2)</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Assumes the conversion of Notes for Conversion Shares and the exercise of Warrants for Warrant Shares covered by this registration statement.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
</td>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class='pageno'>5</font></font></td>
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<p style="margin: 0pt; text-indent: 36pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 36pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">DESCRIPTION OF </font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">OUR COMMON</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> STOCK</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The following is only a summary of the terms and conditions applicable to our Common Stock and it not intended to be complete. Our Company is a Delaware cor</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">por</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ation and our Common Stock is subject to the provisions of our Certificate of Incorporation ("Certificate of Incorporation") and our Bylaws ("Bylaws").</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Common Stock</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="margin: 0pt; text-indent: 24pt; line-height: 1;">The <font style="font-family: 'Times New Roman'; font-size: 10pt;">Company</font> has fifty million (50,000,000) shares of common stock, $0.001 par value per share, authorized by its Certificate of Incorporation. The holders of the common stock of the Company shall be entitled at all meetings of shareholders to one vote for each share of such stock held by them. Cumulative voting is expressly prohibited by the Certificate of Incorporation. With respect to any matter, a quorum shall be present at a meeting of shareholders if the holders of </font><font>a majority of</font><font> the shares entitled to vote on that matter are represented at the meeting in person or by proxy.</font></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: 1; margin: 0pt; text-indent: 24pt;">S<font style="font-family: 'Times New Roman'; font-size: 10pt;">hareholders of the Company have no preemptive rights to acquire additional shares of common stock or other securities. The common stock is not subject to redemption and carries no subscription or conversion rights. In the event of liquidation of the Company, the shares of common stock are entitled to share equally in corporate assets after satisfaction of all liabilities. Holders of common stock are entitled to receive such dividends as the Board of Directors may from time to time declare out of funds legally available for the payment of dividends. The Company has not paid a cash dividend on our common stock and does not anticipate doing so in the foreseeable future. The Company intends to retain earnings to fund future working capital requirements, infrastructure needs, growth, product development.</font></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Board of Directors has the authority to issue the authorized but unissued shares of common stock without action by the shareholders. Any future issuance of such shares would reduce the percentage ownership held by existing shareholders and might dilute the book value of their shares.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: 1; margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The shares of our com</font>mon stock presently outstanding are fully paid and non-assessable, and any shares issued by us pursuant to this prospectus will be fully paid and non-assessable when issued. Our common stock trades on the NASDAQ Capital Market under the symbol &#8220;CLRO.&#8221;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Anti-Takeover Provisions</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Certificate of Incorporation and Bylaws</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Because our stockholders do not have cumulative voting rights, our stockholders holding a majority of the outstanding shares of Common Stock outstanding will be able to satisfy the quorum requirement and be able to elect all of our directors by a plurality of the voting power of the shares present in person or by proxy. Our Certificate of Incorporation and Bylaws provide that all stockholder actions must be </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">effected</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> at a duly called meeting of stockholders and not by written consent. A special meeting of stockholders may be called by a resolution adopted by </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a majority of</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> our board, our chair of the board, our chief executive officer or the president in absence of the chief executive officer. Any power of the stockholders to call a special meeting is specifically denied by the terms of our Certificate of Incorporation.</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">These provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies and to discourage certain types of transactions that may involve an actual or threatened acquisition of us. These provisions are also designed to reduce our vulnerability to an unsolicited acquisition proposal and to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and may have the effect of deterring hostile takeovers or delaying changes in our control or management. </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">As a consequence</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, these provisions also may inhibit fluctuations in the market price of our stock that could result from actual or rumored takeover attempts.</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class='pageno'>6</font></font></td>
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<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; line-height: inherit;">Section 203 of the Delaware General Corporation Law</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We are subject to Section 203 of the Delaware General Corporation Law, which prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:</font></p>
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<tr style="height: 17px;">
<td style="width: 20.48px; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9679;&nbsp;</font></td>
<td style="width: 844.16px; height: 17px;">
<p style="margin: 0pt 0pt 6pt; text-indent: 0pt; line-height: 1; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
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<tr style="height: 39px;">
<td style="width: 20.48px; vertical-align: top; height: 39px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9679;&nbsp;</font></td>
<td style="width: 844.16px; height: 39px;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Upon closing of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned by (</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">) persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;a tender or exchange offer; or</font><br></td>
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<td style="width: 20.48px; vertical-align: top; height: 35px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9679;&nbsp;</font></td>
<td style="width: 844.16px; height: 35px;"><font style="font-family: 'Times New Roman'; text-indent: 42.6667px; line-height: inherit;">On or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least sixty-six and two-third percent (66 2/3%) of the outstanding voting stock that is not owned by the interested stockholder.</font><br></td>
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<p style="margin: 0pt; line-height: 1; text-indent: 32pt;"><br></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In general, Section 203 defines business combination to include the following:</font></p>
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<td style="border: 1px dashed #bbbbbb; width: 1376px; height: 17px; vertical-align: top;" valign="top"><font style="font-family: 'Times New Roman'; text-indent: 42.6667px;">Any merger or consolidation involving the corporation and the interested stockholder;</font><br></td>
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<td style="border: 1px dashed #bbbbbb; width: 1376px; height: 23px; vertical-align: top;" valign="top"><font style="font-family: 'Times New Roman'; text-indent: 42.6667px;">Any sale, lease, exchange, mortgage, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;</font><br></td>
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<td style="border: 1px dashed #bbbbbb; width: 1376px; height: 23px; vertical-align: top;" valign="top"><font style="font-size: 10pt; text-indent: 42.6667px; font-family: 'Times New Roman'; line-height: inherit;">Subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation</font><font style="font-size: 10pt; text-indent: 42.6667px; font-family: 'Times New Roman'; line-height: inherit;">&nbsp;to the interested stockholder;</font><br></td>
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<td style="border: 1px dashed #bbbbbb; width: 1376px; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; line-height: inherit;">Any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by</font><font style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; line-height: inherit;"><font>&nbsp;</font>the interested stockholder; or</font></td>
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<td style="border: 1px dashed #bbbbbb; width: 32.64px; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9679;&nbsp;</font></td>
<td style="border: 1px dashed #bbbbbb; width: 1376px; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; line-height: inherit;">The receipt by the interested stockholder of the benefit of any loss, advances, guarantees, pledges or other financial benefits</font><font style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 42.6667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; line-height: inherit;"><font>&nbsp;</font>by or through the corporation.</font></td>
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<p style="margin: 0pt; text-indent: 36pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In general, Section 203 defines an &#8220;interested stockholder&#8221; as an entity or person who, together with the person&#8217;s affiliates and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation.</font></p>
<p style="margin: 18pt 0pt 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">NASDAQ Capital Market Listing </font></p>
<p style="margin: 8pt 0pt 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Our common stock is listed on the NASDAQ Capital Market under the trading symbol &#8220;CLRO.&#8221; </font></p>
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<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Transfer Agent</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> and Registrar</font></p>
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<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The transfer agent</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> and registrar</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> for our common stock is</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> Broadridge. </font></p>
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<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">PLAN OF DISTRIBUTION</font></p>
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<p style="margin: 0pt; line-height: 1; text-align: left; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The selling stockholder and any of its pledgees, </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">donees</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, transferees, assignees or other successors-in-interest may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. The selling stockholder may use one or more of the following methods when disposing of the shares or interests therein:</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">through brokers, dealers or underwriters that may act solely as agents;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">purchases by a broker-dealer as principal and resale by the broker-dealer for its account;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">an exchange distribution in accordance with the rules of the applicable exchange;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">privately negotiated transactions;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">short sales;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">through the writing or settlement of options or other hedging transactions entered into after the effective date of the registration statement of which this prospectus is a part, whether through an options exchange or otherwise;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">broker-dealers may agree with the selling stockholder to sell a specified number of such shares at a stipulated price per share;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">a combination of any such methods of disposition; and</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#8226;</font></p>
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<td style="background-color: #ffffff; vertical-align: top; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">any other method permitted pursuant to applicable law.</font></p>
</td>
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<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The selling stockholder may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Broker-dealers engaged by the selling stockholder may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. We do not expect these commissions and discounts to exceed what is customary in the types of transactions involved.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The selling stockholder may from time to time pledge or grant a security interest in some or all of the shares of common stock owned by it and, if it defaults in the performance of its secured obligations, the pledgees or secured parties may offer and sell shares of common stock from time to time under this prospectus, or under a supplement or amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the section of this prospectus captioned &#8220;Selling Stockholder&#8221; to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class='pageno'>8</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Upon being notified in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of common stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, we will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the name of each such selling stockholder and of the participating broker-dealer(s), (ii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the number of shares involved, (iii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the price at which such shares of common stock were sold, (iv)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus, and (vi)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">other facts material to the transaction. In addition, upon being </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">notified in writing by a selling stockholder that a </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">donee</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> or pledge intends to sell more than 500 shares of common stock, we will file a supplement to this prospectus if then required in accordance with applicable securities law.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">A selling stockholder also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We have advised the selling stockholder that </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">it is </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">required to comply with Regulation M promulgated under the Securities and Exchange Act during such time as</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> it</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> may be engaged in a distribution of the shares. The foregoing may affect the marketability of the common stock.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The aggregate proceeds to the selling </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> from the sale of the common stock offered by it will be the purchase price of the common stock less discounts or commissions, if any. </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The selling stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> reserves the right to accept and, together with </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">its</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents. We will not receive any of the proceeds from this offering.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We are required to pay all fees and expenses incident to the registration of the shares. We have agreed to in</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">demnify the selling stockholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> against certain losses, claims, damages and liabilities, including liabilities under the Securities Act or otherwise.</font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="background-color: #ffffff; margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We have agreed with the selling stockholder to keep the registration statement of which this prospectus constitutes a part effective until such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration statement of which this prospectus forms a part or pursuant to Rule 144 of the Securities Act.</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">EXPERTS</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; line-height: 1; text-align: left; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The consolidated financial statements of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, Inc. incorporated in this prospectus by reference from </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> Inc.'s Annual Report on Form 10-K for the year ended December 31, 201</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">9</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> were audited by Tanner LLC, an independent registered public accounting firm, as stated in their report which is incorporated herein by reference. Such consolidated statements have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 36pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">LEGAL MATTERS</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The validity of the securities being offered hereby will be passed upon by Seyfarth Shaw LLP.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt; line-height: inherit;" class="pageno"><font class='pageno'>9</font></font></td>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">PART</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">II.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">INFORMATION NOT REQUIRED IN PROSPECTUS.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">ITEM 14.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 32pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Set forth below is an estimate (except in the case of the registration fee) of the amount of fees and expenses to be incurred in connection with the issuance and distribution of the offered securities registered hereby, other than underwriting discounts and commission, if any, incurred in connection with the sale of the offered securities. All such amounts will be borne by </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, Inc. </font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
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<td style="vertical-align: middle; width: 81.5319%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 2.97872%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 15.4043%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
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<tr>
<td style="background-color: #cceeff; vertical-align: top; width: 81.5319%;">
<p style="background-color: #cceeff; margin: 0pt 0pt 0pt 10pt; text-indent: -10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">SEC Registration Fee</font></p>
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<td style="background-color: #cceeff; vertical-align: bottom; width: 2.97872%;">
<p style="background-color: #cceeff; margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">$</font></p>
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<td style="background-color: #cceeff; vertical-align: bottom; width: 15.4043%;">
<p style="background-color: #cceeff; margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">37</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">8</font></p>
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<td style="vertical-align: top; width: 81.5319%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: -10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Accounting Fees and Expenses</font></p>
</td>
<td style="vertical-align: bottom; width: 2.97872%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.4043%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">5,000</font></p>
</td>
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<td style="background-color: #cceeff; vertical-align: top; width: 81.5319%;">
<p style="background-color: #cceeff; margin: 0pt 0pt 0pt 10pt; text-indent: -10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Legal Fees and Expenses</font></p>
</td>
<td style="background-color: #cceeff; vertical-align: bottom; width: 2.97872%;">
<p style="background-color: #cceeff; margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="background-color: #cceeff; vertical-align: bottom; width: 15.4043%;">
<p style="background-color: #cceeff; margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10,000</font></p>
</td>
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<p style="margin: 0pt 0pt 0pt 10pt; text-indent: -10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Miscellaneous Fees and Expenses</font></p>
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<td style="border-bottom: 0.5pt solid #000000; vertical-align: bottom; width: 2.97872%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; vertical-align: bottom; width: 15.4043%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">1,000</font></p>
</td>
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<p>&nbsp;</p>
</td>
<td style="background-color: #cceeff; border-bottom: 1.5pt double #000000; border-top: 0.5pt solid #000000; vertical-align: bottom; width: 2.97872%;">
<p style="background-color: #cceeff; margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">$</font></p>
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<td style="background-color: #cceeff; border-bottom: 1.5pt double #000000; border-top: 0.5pt solid #000000; vertical-align: bottom; width: 15.4043%;">
<p style="background-color: #cceeff; margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">16,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">37</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">8</font></p>
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<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 18pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">ITEM 15.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> INDEMNIFICATION OF DIRECTORS AND OFFICERS.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">We are</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> incorporated under the laws of the State of Delaware. Section 145 of the Delaware G</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">eneral Corporation Law provides that a Delaware corporation may indemnify any persons who were, are, or are threatened to be made, parties to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee or agent of such corporation, or is or was serving at the request of such corporation as an officer, director, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. The indemnification may include expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with defending or settling such action, suit or proceeding, provided that such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation&#8217;s best interests except that no indemnification is permitted without judicial approval if the officer or director is adjudged to be liable to the corporation. Where an officer or director is successful on the merits or otherwise in the defense of any action referred to above, the corporation must indemnify him or her against the expenses (including attorneys&#8217; fees) actually and reasonably incurred.</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Our</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> certificate of incorporation and bylaws provide for the indemnification of its directors and officers to the fullest extent permitted under the Delaware General Corporation Law.</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duties as a director, except for liability for any:</font></p>
<p style="margin: 0pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 6pt 24pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#9679;&nbsp;&nbsp;&nbsp;&nbsp; Breach of director&#8217;s duty of loyalty to the corporation or its stockholders.</font></p>
<p style="margin: 0pt 0pt 6pt 24pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#9679;&nbsp;&nbsp;&nbsp;&nbsp; Act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;</font></p>
<p style="margin: 0pt 0pt 6pt 24pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#9679;&nbsp;&nbsp;&nbsp;&nbsp; Unlawful payment of dividends or unlawful purchase or redemption of shares; or</font></p>
<p style="margin: 0pt 0pt 6pt 24pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&#9679;&nbsp;&nbsp;&nbsp;&nbsp; Transaction from which the director derives an improper personal benefit;</font></p>
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<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Our</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> certificate of incorporation includes such a provision. Expenses incurred by any officer or director in defending any such action, suit or proceeding in advance of its final disposition shall be paid by</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> us </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">upon delivery to </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">us</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> of an undertaking, by or on behalf of such director or officer, to rep</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ay all amounts so advanced if we</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> shall ultimately be determined that such director or officer is not entitled to be indemnified by </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">us</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Section 174 of the Delaware General Corporation Law provides, among other things, that a director who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption, may be held jointly and severally liable for such actions. A director who was either absent when the unlawful actions were approved or dissented at the time may avoid liability by causing his or her dissent to such actions to be entered in the books containing minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives notice of the unlawful acts.</font></p>
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<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Insofar as indemnification for liabilities arising under the Securities Act 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 SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">ITEM 16.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> EXHIBITS.</font></p>
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<p style="margin: 0pt; text-indent: 24pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">See the Exhibit Index to this Registration Statement on Form S-3 which is incorporated herein by reference. </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">ITEM 17.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;"> UNDERTAKINGS.</font></p>
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<p style="margin: 0pt 0pt 0pt 39.6pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">A.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The undersigned registrant hereby undertakes:</font></p>
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<p style="margin: 0pt 0pt 0pt 79.2pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">1.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">To file, during any period in which </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">offers</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> or sales are being made, a post-effective amendment to this registration statement:</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">To include any prospectus required by Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10(a)(3)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">of the Securities Act of 1933;</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">424(b)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</font></p>
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<p style="margin: 0pt 0pt 0pt 79.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">provided, however</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, that paragraphs (</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">), (ii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">and (iii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">13 or Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">15(d)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement,</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">or is contained in a form of prospectus filed pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">424(b)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">that is part of the registration statement.</font></p>
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<p style="margin: 0pt 0pt 0pt 79.2pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">2.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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>
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<p style="margin: 0pt 0pt 0pt 79.2pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">3.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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>
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<p style="margin: 0pt 0pt 0pt 79.2pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">4.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -37.45pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Each prospectus filed by the registrant pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">424(b)(3)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -37.45pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Each prospectus required to be filed pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">424(b)(2), (b)(5)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">or (b)(7)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">as part of a registration statement in reliance on Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">430B relating to an offering made pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">415(a)(1)(</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">), (vii)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">or (x)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">for the purpose of providing the information required by Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">10(a)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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 the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;"> Provided, however</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 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.</font></p>
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<p style="margin: 0pt 0pt 0pt 79.2pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">5.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">i</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">424;</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</font></p>
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<p style="margin: 0pt 0pt 0pt 118.8pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</font></p>
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<p style="margin: 0pt 0pt 0pt 39.6pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">B.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s annual report pursuant to Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">13(a)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">or Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">15(d)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">15(d)</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement 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</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;"> bona fide</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> offering thereof.</font></p>
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<p style="margin: 0pt 0pt 0pt 39.6pt; text-indent: -39.6pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">C</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 3pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">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 Act 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 Act and will be governed by the final adjudication of such issue.</font></p>
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<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">SIGNATURES</font></p>
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<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Pursuant to the requirements of the Securities Act, the registrant hereby certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Salt Lake City, Utah</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> on this 7</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">th</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">day of </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">May</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 2</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">020</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline; line-height: inherit;">CLEARONE, INC.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(Registrant)</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">By: </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">/s/ Zeynep </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Hakimoglu</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Zeynep </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Hakimoglu</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">President and </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Chief Executive Officer</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">(principal executive officer)</font></p>
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<p style="margin: 0pt; text-indent: 24pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">KNOW ALL MEN BY THESE PRESENTS</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, that each person whose signature appears below hereby constitutes and appoints </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Zeynep </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Hakimoglu</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Narsi Narayanan</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, or any one of them, his </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">or her </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">attorneys-in-fact and agents, each with full power of substitution and re-substitution for him in any and all capacities, to sign any or all amendments or post-effective amendments to this registration statement on Form</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">S-3 or a registration statement prepared in accordance with Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">462 of the Securities Act of 1933, as amended, and to file the same, with exhibits thereto and other documents in connection herewith or in connection with the registration of the offered securities under the Securities Exchange Act of 1934, as amended, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his substitutes may do or cause to be done by virtue hereof.</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font></p>
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<p style="margin: 0pt; text-align: left;"><font style="text-decoration: underline;"><font style="font-family: Times; font-size: 7.5pt; font-weight: bold; line-height: inherit;">Date </font></font></p>
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<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 7.5pt; font-weight: bold; line-height: inherit;"><font style="text-decoration: underline;">Signatures</font> </font></p>
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<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">May 7</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, 2020</font></p>
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<td style="vertical-align: top; margin-left: 0.1px; height: 69px;"><br></td>
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<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">/s/ Zeynep </font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Hakimoglu</font><br></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Zeynep </font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Hakimoglu</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, Chairman of the Board of Directors, President and Chief Executive Officer </font></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">(Principal Executive Officer)</font></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;"><br></font></p>
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<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">May 7</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, 2020</font></p>
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<td style="vertical-align: top; margin-left: 0.1px; height: 76px;"><br></td>
<td style="vertical-align: top; height: 76px; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">/s/ Narsi Narayanan</font><br></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Narsi Narayanan, Senior Vice President of Finance </font><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">(Principal Financial and Principal Accounting Officer)</font></p>
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<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">May 7</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, 2020</font></p>
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<td style="vertical-align: top; margin-left: 0.1px; height: 52px;"><br></td>
<td style="vertical-align: top; height: 52px; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">/s/ Larry R. Hendricks</font><br></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Larry R. Hendricks</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, Director</font></p>
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<p style="margin: 0pt; text-align: left;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">May 7</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, 2020</font></p>
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<td style="vertical-align: top; height: 50px; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">/s/ Eric L. Robinson</font><br></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Eric L. Robinson</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, Director</font></p>
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<p style="margin: 0pt; text-align: left;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">May 7</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, 2020</font></p>
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<td style="vertical-align: top; height: 72px; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">/s/ Bruce Whaley</font><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">Bruce Whaley</font><font style="font-family: Times; font-size: 10pt; line-height: inherit;">, Director</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><br><font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">EXHIBIT INDEX</font></font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
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<td style="vertical-align: middle; width: 1.63797%; height: 20px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 2.01596%; height: 20px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 92.5661%; height: 20px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: top; width: 3.77993%; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 1.63797%; height: 34px; text-align: left;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">4.1</font></p>
</td>
<td style="vertical-align: top; width: 2.01596%; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 92.5661%; height: 34px;">
<p style="margin: 0pt;"><a href="http://www.sec.gov/Archives/edgar/data/840715/000175392620000071/ex41_7.htm"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (filed as Exhibit 4.1 to </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, Inc.&#8217;s Annual Report on Form 10-K for the year ended December 31, 2019 and incorporated herein by reference).</font></a></p>
</td>
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<tr style="height: 25px;">
<td style="vertical-align: top; width: 3.77993%; height: 25px;">
<p style="margin: 0pt;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 1.63797%; height: 25px; text-align: left;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">5.1</font></p>
</td>
<td style="vertical-align: top; width: 2.01596%; height: 25px;">
<p style="margin: 0pt;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 92.5661%; height: 25px;">
<p style="margin: 0pt;"><a href="g081971_ex5-1.htm" name="EX-5.1" class="LinkedExhibit" style="-sec-extract: exhibit;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Opinion of Seyfarth Shaw LLP regarding the validity of the securities being </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">issued.*</font></a><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: top; width: 3.77993%; height: 34px;">
<p style="margin: 0pt;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 1.63797%; height: 34px; text-align: left;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: Times; font-size: 10pt; line-height: inherit;">23.1</font></p>
</td>
<td style="vertical-align: top; width: 2.01596%; height: 34px;">
<p style="margin: 0pt;"><br><font style="font-family: Times; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 92.5661%; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><a href="g081971_ex23-1.htm" name="EX-23.1" class="LinkedExhibit" style="-sec-extract: exhibit;">Consent of Tanner LLC</a>*</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 3.77993%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 1.63797%; height: 17px; text-align: left;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">23.2</font></p>
</td>
<td style="vertical-align: top; width: 2.01596%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 92.5661%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Consent of Seyfarth Shaw LLP (Included </font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">in</font><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><a href="g081971_ex5-1.htm" name="EX-5.1" class="LinkedExhibit" style="-sec-extract: exhibit;"> Exhibit 5.1</a>).</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 3.77993%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 1.63797%; height: 17px; text-align: left;">
<p style="margin: 0pt; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">24.1</font></p>
</td>
<td style="vertical-align: top; width: 2.01596%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 92.5661%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Power of Attorney (Included on signature page).</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">* filed herewith</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>15</font></font></td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>g081971_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 5.1</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">[LETTERHEAD OF SEYFARTH SHAW LLP]</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">May 7</font><font style="font-family: 'Times New Roman'; line-height: inherit;">, 2020</font></font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">ClearOne, Inc.</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">5225 Wiley Post Way</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Suite 500</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Salt Lake City, UT 84116</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt 36pt 0pt 72pt; break-after: avoid; break-inside: avoid; text-align: justify; text-indent: -36pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">Re:</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; text-decoration: underline; line-height: inherit;">Registration Statement on Form S-3</font></font></p>
<p style="margin: 0pt 36pt 0pt 72pt; text-indent: -72pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Ladies and Gentlemen:</font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 16pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">We have acted as counsel to </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Clea</font><font style="font-family: 'Times New Roman'; line-height: inherit;">r</font><font style="font-family: 'Times New Roman'; line-height: inherit;">One</font><font style="font-family: 'Times New Roman'; line-height: inherit;">, Inc., a Delaware corp</font><font style="font-family: 'Times New Roman'; line-height: inherit;">oration (the &#8220;Company&#8221;), </font><font style="font-family: 'Times New Roman'; line-height: inherit;">in connection with the Company&#8217;s registration statement on Form</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&nbsp;</font><font style="font-family: 'Times New Roman'; line-height: inherit;">S-3 filed with the Securities and Exchange Commission (the &#8220;Registration Statement&#8221;) under the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family: 'Times New Roman'; line-height: inherit;">Securities </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Act&#8221;), relating to a</font><font style="font-family: 'Times New Roman'; line-height: inherit;">n aggregate of up to </font><font style="font-family: 'Times New Roman'; line-height: inherit;">1,762,710</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">shares of common stock, par value $0.</font><font style="font-family: 'Times New Roman'; line-height: inherit;">0</font><font style="font-family: 'Times New Roman'; line-height: inherit;">01 per share, of the Company (the &#8220;</font><font style="font-family: 'Times New Roman'; line-height: inherit;">Common Stock</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&#8221;) that may be sold or delivered by the part</font><font style="font-family: 'Times New Roman'; line-height: inherit;">y listed as selling stockholder</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> in the Registration Stat</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ement (the &#8220;Selling Stockholder</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&#8221;), </font><font style="font-family: 'Times New Roman'; line-height: inherit;">which</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> S</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ecurities</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">consist of (i) 1,421,801 shares of Common Stock (the &#8220;Conversion Shares&#8221;) issuable by the Company upon conversion of issued and outstanding secured convertible n</font><font style="font-family: 'Times New Roman'; line-height: inherit;">otes (the &#8220;Notes&#8221;), and (ii) 34</font><font style="font-family: 'Times New Roman'; line-height: inherit;">0,909 shares of Common Stock (the &#8220;Warrant Shares</font><font style="font-family: 'Times New Roman'; line-height: inherit;">,</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&#8221;</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">and together with the Conversion Shares, the &#8220;Shares&#8221;</font><font style="font-family: 'Times New Roman'; line-height: inherit;">) </font><font style="font-family: 'Times New Roman'; line-height: inherit;">issuable by the Company upon the exercise of </font><font style="font-family: 'Times New Roman'; line-height: inherit;">issued and outstanding </font><font style="font-family: 'Times New Roman'; line-height: inherit;">warrants (the &#8220;Warrants&#8221;) currently </font><font style="font-family: 'Times New Roman'; line-height: inherit;">held by the Selling Stockholder</font><font style="font-family: 'Times New Roman'; line-height: inherit;">. The </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Conversion Shares, after conversion of the Notes in accordan</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ce with the terms thereof, and the Warrant </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Shares, after exercise of the Warrants in accordance with the terms thereof, may </font><font style="font-family: 'Times New Roman'; line-height: inherit;">each </font><font style="font-family: 'Times New Roman'; line-height: inherit;">be sold or delivered, from time to time as set forth in the Registration Statement, any amendment thereto, the prospectus conta</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ined therein (the &#8220;Prospectus&#8221;) and supplements to the Prospectus, and pursuant to Rule 415 under the </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Securities </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Act</font><font style="font-family: 'Times New Roman'; line-height: inherit;">. </font></font></p>
<p style="margin: 0pt 0pt 16pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">In our capacity as counsel to the Company</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">and for purposes of this opinion, we have examined </font><font style="font-family: 'Times New Roman'; line-height: inherit;">originals, or copies certified or otherwise </font><font style="font-family: 'Times New Roman'; line-height: inherit;">identified to our satisfaction, of </font><font style="font-family: 'Times New Roman'; line-height: inherit;">the following</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> document</font><font style="font-family: 'Times New Roman'; line-height: inherit;">s</font><font style="font-family: 'Times New Roman'; line-height: inherit;">:</font></font></p>
<table style="width: 92%; margin-left: 64px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 16px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 16px;">(i)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Certificate of Incorporation of the Company, as in effect on the date hereof (the &#8220;Charter&#8221;);</font></td>
</tr>
<tr style="height: 16px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 16px;">(ii)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Bylaws of the Company, as in effect on the date hereof (the &#8220;By-Laws&#8221;);</font></td>
</tr>
<tr style="height: 16px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 16px;">(iii)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Notes and Warrants by and between the Company and the Selling Stockholder as in effect on the date hereof, including all such amendments, supplements and waivers thereto;</font></td>
</tr>
<tr style="height: 16px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 16px;">(iv)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Registration Statement and all exhibits thereto;</font></td>
</tr>
<tr style="height: 16px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 16px;">(v)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the corporate proceedings of the Company with respect to the authorization of the issuance of the Notes, Warrants and Shares; and</font></td>
</tr>
<tr style="height: 33px;">
<td style="width: 5.03719%; margin-left: 0.1px; vertical-align: top; height: 33px;">(vi)</td>
<td style="width: 94.9628%; margin-left: 0.1px; vertical-align: top; height: 33px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">such other corporate records, documents and other instruments as we have deemed necessary or appropriate to express the opinions set forth in this letter, subject to the assumptions, limitations and qualifications stated herein.</font></td>
</tr>

</table>
<h3 style="font-weight: normal; margin: 0pt 0pt 12pt 108pt; text-align: justify; text-indent: -36pt;"><br></h3>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;">
<table style="width: 100%; border-collapse: collapse; padding: 2px; border: 1px dashed #bbbbbb; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" border="1px dashed rgb(187, 187, 187)" cellpadding="0px">

<tr>
<td class="pgno" style="border: 1px dashed #bbbbbb; padding: 0px; text-align: center;"><font class="pageno" style="font-size: 10pt;"><font class='pageno'>1</font></font></td>
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<hr style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;"><br></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">As to questions of fact material to this opinion, we have relied on certificates or comparable documents of public officials and of officers and representatives of the Company.</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">We have assumed the genui</font><font style="font-family: 'Times New Roman'; line-height: inherit;">neness of all signatures, the conformity to the originals of all documents reviewed by us as copies, the authenticity and completeness of all original documents reviewed by us in original or copy form and the legal competence of each individual executing a</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ny document.</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&nbsp; </font></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">The scope of this opinion is limited to the</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> laws of the State of</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> Delaware, </font><font style="font-family: 'Times New Roman'; line-height: inherit;">including without limitation </font><font style="font-family: 'Times New Roman'; line-height: inherit;">applicable provisions of the Delaware Constitution and reported judicial decisions interpreting these laws.</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&nbsp; </font><font style="font-family: 'Times New Roman'; line-height: inherit;">This opinion letter is issu</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ed as of the date hereof and is necessarily limited to laws</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> now in effect and facts and circumstances presently existing and brought to our attention.</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">We </font><font style="font-family: 'Times New Roman'; line-height: inherit;">have</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> assumed that, at or prior to the time of the issuance and delivery of any Shares, that there will</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> not have occurred any change in law, change in the </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Notes, </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Warrants or the Company&#8217;s </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Charter</font><font style="font-family: 'Times New Roman'; line-height: inherit;">, or further action by the Company&#8217;s board of directors, in each case affecting the validity of the issuance of the Shares.</font></font></p>
<p style="margin: 0pt; text-align: justify; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">Based on the foregoing, and subject to </font><font style="font-family: 'Times New Roman'; line-height: inherit;">the assumptions, limitations and qualifications set forth herein, we are of the opinion tha</font><font style="font-family: 'Times New Roman'; line-height: inherit;">t:</font></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"></p>
<table style="width: 92%; border-collapse: collapse; padding: 2px; border: 1px dashed #bbbbbb; margin-left: 64px; font-family: 'times new roman'; font-size: 10pt;" border="1px dashed rgb(187, 187, 187)">

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<td style="border: 1px dashed #bbbbbb; width: 57.52px; margin-left: 0.1px; vertical-align: top; height: 16px;">1.</td>
<td style="border: 1px dashed #bbbbbb; width: 2139.44px; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 64px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Conversion Shares, when issued after conversion of the Notes in accordance with the terms thereof, will be validly issued, fully paid and<font>&nbsp;</font></font>nonassessable<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 64px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>
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<td style="border: 1px dashed #bbbbbb; width: 57.52px; margin-left: 0.1px; vertical-align: top; height: 16px;">2.</td>
<td style="border: 1px dashed #bbbbbb; width: 2139.44px; margin-left: 0.1px; vertical-align: top; height: 16px;"><font style="font-family: 'Times New Roman'; line-height: inherit;">the</font><font style="font-family: 'Times New Roman'; line-height: inherit;"><font>&nbsp;</font>Warrant</font><font style="font-family: 'Times New Roman'; line-height: inherit;"><font>&nbsp;</font>Shares,<font>&nbsp;</font></font><font style="font-family: 'Times New Roman'; line-height: inherit;">when issued after exercise of the Warrants in accordance with the terms thereof, will be validly issued, fully paid and<font>&nbsp;</font>nonassessable.</font></td>
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<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">We consent to the use of this opinion as an exhibit to the</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Registration</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Statement and further consen</font><font style="font-family: 'Times New Roman'; line-height: inherit;">t to the reference to us under the heading "Legal</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Matters" in the Registration Statement, the </font><font style="font-family: 'Times New Roman'; line-height: inherit;">p</font><font style="font-family: 'Times New Roman'; line-height: inherit;">rospectus constituting a part</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; line-height: inherit;">thereof and any amendments</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> or supplements</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> thereto</font><font style="font-family: 'Times New Roman'; line-height: inherit;">, as incorporated by reference in the Registration Statement</font><font style="font-family: 'Times New Roman'; line-height: inherit;">.</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&nbsp; </font><font style="font-family: 'Times New Roman'; line-height: inherit;">In giving this cons</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Securities </font><font style="font-family: 'Times New Roman'; line-height: inherit;">Act, or the rules and regulations promulgated thereunder. In rendering the opinions set forth above, we are opining only as to the speci</font><font style="font-family: 'Times New Roman'; line-height: inherit;">fic legal issues expressly set forth therein, and no opinion shall be inferred as to any other matter or matters.</font></font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 48pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">This opinion is intended solely for use in connection with the issuance and sale of the Shares that are the subject of the Registration State</font><font style="font-family: 'Times New Roman'; line-height: inherit;">ment and is not to be relied upon for any other purpose.</font><font style="font-family: 'Times New Roman'; line-height: inherit;"> </font></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 36pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 216pt; line-height: 1;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; line-height: inherit;">Very truly&nbsp;</font><font style="font-family: 'Times New Roman'; line-height: inherit;">yours,</font></font></p>
<p style="margin: 0pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 216pt; line-height: 1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline; line-height: inherit;">/s/ SEYFARTH SHAW LLP</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline; line-height: inherit;"><br></font></p>
<p style="margin: 0pt 0pt 0pt 216pt; line-height: 1;"><br></p>
<p style="margin: 0pt 0pt 0pt 216pt; line-height: 1; text-align: left;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>2</font></font></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>g081971_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<p style="margin: 0pt; text-align: right; text-indent: 13.45pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Exhibit 23.1</font></p>
<p style="margin: 0pt; text-align: center; text-indent: 13.45pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center; text-indent: 13.45pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">CONSENT</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;"> OF INDEPENDENT REGISTERED</font></p>
<p style="margin: 0pt; text-align: center; text-indent: 13.45pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">PUBLIC ACCOUNTING FIRM</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt;"><br></p>
<p style="margin: 0pt; text-indent: 48pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">We hereby consent to the </font><font style="font-family: 'Times New Roman';">incorporation by reference</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in this Registration Statement on Form </font><font style="font-family: 'Times New Roman';">S-3</font><font style="font-family: 'Times New Roman';"> of our report</font><font style="font-family: 'Times New Roman';"> dated </font><font style="font-family: 'Times New Roman';">March 30</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">, with respect to the consolidated balance sheets of ClearOne, In</font><font style="font-family: 'Times New Roman';">c</font><font style="font-family: 'Times New Roman';">. and subsidiaries as of December 31, 201</font><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';"> and 201</font><font style="font-family: 'Times New Roman';">8</font><font style="font-family: 'Times New Roman';">, and the related consolidated statements of operations and comprehensive</font><font style="font-family: 'Times New Roman';"> loss</font><font style="font-family: 'Times New Roman';">, shareholders&#8217; equity, and cash flows </font><font style="font-family: 'Times New Roman';">for each of the years in the two-year period ended</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">December 31, 2019</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">and to the referen</font><font style="font-family: 'Times New Roman';">ce to our firm under the heading &#8220;Experts&#8221; in this Registration Statement on Form S-</font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">&nbsp; </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ TANNER LLC</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Salt Lake City, Utah</font></p>
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">May 7</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">20</font></font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>1</font></font></td>
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