Waiver and Clarification Agreement between JMJ Financial and ActiveCare, Inc.
JMJ Financial agrees to waive all negative covenants related to the timing of a required reverse stock split in previous agreements with ActiveCare, Inc. The waiver confirms that the reverse stock split was effective as of January 27, 2017. It also clarifies that 6,000,000 warrants issued on January 30, 2017, are considered on a pre-split basis, which equals 12,000 warrants after the split. This agreement ensures both parties are clear on the timing and calculation of the warrants following the stock split.
Exhibit 10.2
Waiver and Clarification
JMJ hereby waives all negative covenants in any and all agreements (warrant, note, etc.) in relation to the time of which the reverse stock split was needing to be effectuated by, which is hereby agreed to as January 27, 2017. It is acknowledged that the reverse stock split became effective in the marketplace the morning of January 27, 2017. As such, and by way of clarification, the warrants issued on January 30, 2017 for 6,000,000 warrants are on a pre-split basis, which after taking into account the reverse stock split amounts to 12,000 warrants.
| /s/ JMJ Financial | |
| JMJ Financial | |
| ITS: Principal |
