Montague International Holding (MIHL)

[ListenToMe]

On January 17, 2006 the Company issued an unsecured note in the amount of $88,637 bearing interest at the rate of 5.0% to a vendor in exchange for services previously rendered. The note was originally due in full on April 19, 2006. The Company and the vendor have agreed to amend the payment terms of the note. A payment of $5,000 was made in April, 2006 and monthly payments beginning May 20, 2006 of $10,000, $15,000, $25,000 through July 20, 2006 with the remaining balance of principal and accrued interest due August 30, 2006. The note is personally guaranteed by Mr. Robinson who has pledged certain of his personal assets as collateral.