On December 9, 2011, the Company amended an existing promissory note with Infinite Funding, Inc. by extending the original due date of December 15, 2011 to April 15, 2012. The original note was dated September 28, 2011 with a principal amount due of $40,000. The Company has agreed to pay an extension fee of $10,000, thereby increasing the principal amount to $50,000 and extending the due date to April 15, 2012.
On December 9, 2011, the Company executed a 2nd Amendment to Promissory Note with Infinite Funding, Inc., extending the due date to April 15, 2012. The original note was dated June 10, 2011 and was first amended on September 28, 2011. As a result of the second amendment, the Company has extended the due date to April 15, 2012 and agreed to pay an extension fee of $20,000, thereby increasing the amount of principal to $95,000.
On December 9, 2011, the Company executed a 3rd Amendment to Promissory Note with Infinite Funding, Inc., extending the due date from December 15, 2011 to April 15, 2012. The original note was dated March 3, 2011, first amended on June 9, 2011, and amended a second time on September 28, 2011. The Company has agreed to pay an extension fee of $20,000, thereby increasing the principal balance due to $105,000.
On December 9, 2011, the Company entered into a new Promissory Note with Infinite Funding, Inc. for the principal sum of $100,000. The note is due on April 15, 2012 and accrues interest at 3% per annum.
By: /s/ R. Thomas Kidd /s/ Alina Yurovskay -------------------------------- ---------------------------------- R. Thomas Kidd Alina Yurovskay Chairman President
GUARANTOR
By: /s/ R. Thomas Kidd -------------------------------- R. Thomas Kidd An Induvidual