Supplemental Funding and Asset Agreement between Datigen.com, Inc. and Purisys, Inc. (February 28, 2005)

Contract Categories: Business Finance › Financing Agreements
Summary

Datigen.com, Inc. and Purisys, Inc. have agreed that Datigen.com will advance an additional $170,000 to Purisys to support its operations and purchase inventory, pending the completion of a larger transaction outlined in a prior Letter of Intent. The funds, along with a previous $120,000 payment, will be credited against equity investments at closing. The agreement also states that the purchased inventory and related revenues will be considered part of the assets in the transaction. All other terms from the original Letter of Intent remain in effect.

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EX-10.2 2 v013720_ex10-2.txt Datigen.com, Inc. February 28, 2005 Purisys, Inc. 203 Piaget Avenue Clifton, NJ 07011 Attn: Aharon Y. Levinas Dear Shykee, Reference is hereby made to the Binding Letter of Intent dated December 15, 2004 (the "LOI") between Datigen.com, Inc. and Purisys, Inc. Capitalized terms used herein not otherwise defined shall have the meanings ascribed to such terms in the LOI. In further continuation of the Transaction, due to unexpected delay in consummating the Transaction, Purchaser is advancing Seller an additional $170,000. Said amount shall be used by Seller to cover day-to-day operations, finalize the purchase of 5,000 retail package units and commence the purchase order for 5,000 wholesale package units. Seller agrees that these units and all rights thereto, including without limitation, revenues from the sale of any such units, shall be part of the Assets. Purchaser and Seller agree that said sum of $170,000, plus the previous amount of $120,000 paid to Seller pursuant to the LOI, shall be used to reduce the amount of equity investments in Purchaser at the closing of the Transaction. All other terms and provisions of the LOI shall be in effect. DATIGEN.COM, INC. By:/s/ Amir Uziel --------------------- Amir Uziel, President Agreed and confirmed: PURISYS, INC. /s/ Aharon Y. Levinas - --------------------- Aharon Y. Levinas -4-