EX-10.1
from 8-K
10 pages
1. Initial Investment. Subject to the Fulfillment of the Conditions Listed in Section 2 of This Letter Agreement, on August 1, 2011, the Investor Will Purchase and the Company Will Issue and Sell One Million Six Hundred Thousand (1,600,000) Units for a Purchase Price of $160,000 ($0.10 Per Unit) (Where Each Unit Consists of One (1) Share of the Company’s Common Stock (“Common Stock”) and One (1) Warrant for the Purchase of One Share of Common Stock With an Exercise Price of $0.12 Per Share and a Duration of 24 Months From the Date of Issue, With Such Subscription to Be as Set Forth in the Subscription Agreement of Even Date Herewith. 2. Conditions to Initial Investment. the Obligation of the Investor to Make the Initial Investment Set Forth in Section 1 Above Is Subject to the Prior Fulfillment of the Following Conditions
12/34/56
