Advance Agreement under Securities Purchase Agreement between Cyber Defense Systems, Inc. and Buyers (September 11, 2006)

Contract Categories: Business Finance › Financing Agreements
Summary

Cyber Defense Systems, Inc. and several investment entities have agreed to an advance of $200,000 under their existing Securities Purchase Agreement dated March 14, 2006. This advance is part of a larger $500,000 investment, with the remaining $300,000 to be funded as outlined in the original agreement. All other terms of the original agreement remain unchanged. The agreement is effective as of September 11, 2006.

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EX-10.1 2 v052880_ex10-1.txt Exhibit 10.1 ADVANCE AGREEMENT This Advance Agreement, dated as of September 11, 2006, shall serve to make an advance under the Securities Purchase Agreement (the "Agreement"), dated as of March 14, 2006, by and among Cyber Defense Systems, Inc., a Florida corporation, with its headquarters located at 10901 Roosevelt Boulevard, St. Petersburg, FL 33716, and each of the Buyers set forth in the Agreement. 1. The undersigned parties hereby agree to advance $200,000 pursuant to Section 4(l) of the Agreement to provide that the Buyers will fund $200,000 of the subsequent investment referred to in that section on the date hereof, with the remaining $300,000 to be funded as provided in the Agreement. 2. All other provisions of the Agreement shall remain in full force and effect. [Signature Page Follows] ACCEPTED AND AGREED: September 11, 2006 CYBER DEFENSE SYSTEMS, INC. By: /s/ William C. Robinson ------------------------ William C. Robinson Chief Executive Officer and President AJW PARTNERS, LLC By: SMS Group, LLC By: /s/ Corey S. Ribotsky ---------------------- Corey S. Ribotsky Manager AJW OFFSHORE, LTD. By: First Street Manager II, LLC By: /s/ Corey S. Ribotsky ---------------------- Corey S. Ribotsky Manager AJW QUALIFIED PARTNERS, LLC By: AJW Manager, LLC By: /s/ Corey S. Ribotsky ---------------------- Corey S. Ribotsky Manager NEW MILLENNIUM CAPITAL PARTNERS II, LLC By: First Street Manager II, LLC By: /s/ Corey S. Ribotsky ---------------------- Corey S. Ribotsky Manager