 In addition to FCPA, what other regulations does the Company not violate?
The Company shall use the net proceeds from the sale of the Securities hereunder for the redemption of all of the Company’s preferred stock outstanding and held by the Purchaser as of the date hereof, at the stated value of such preferred stock, to be redeemed within 24 hours of the Closing, and for working capital purposes and shall not otherwise use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade payables in the ordinary course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.
OFAC