EX-10.6
from 8-K
4 pages
The Undersigned Understands That the Company Is Proposing to Enter Into a Financing Transaction With a New Investor (Or Several Affiliated New Investors) (The “New Investor”). the Financing Transaction (Collectively, the “New Financing”) Is Proposed to Be Accomplished in Several Steps With Each Step Subject to Certain Conditions. the New Financing Involves: (I) (A) an Initial Bridge Financing of $1,000,000 Involving the Sale of Notes and (B) a Follow on Bridge Financing of $3,000,000 of Notes and Units Comprised of a New Series of Senior Preferred Stock and Common Stock (Such Preferred Stock and Common Stock Referred to as “Units”); (II) an Equity Financing Consisting of Additional Units; and (III) the Provision of a Senior Debt Facility (Collectively, the “New Financing”). the Company Contemplates Entering Into a Securities Purchase Agreement (The “Purchase Agreement”) With the New Investor to Evidence the Terms and Conditions of the New Financing. Non-Exercise Agreement
12/34/56