Payoff Agreement for Convertible Promissory Notes between Digerati Technologies, Inc. and Platinum Point Capital LLC (October 15, 2020)
Digerati Technologies, Inc. and Platinum Point Capital LLC have agreed that Digerati will pay $139,000 to fully settle and extinguish two convertible promissory notes and related share purchase agreements dated July 11, 2019, and October 18, 2019. Once Platinum Point Capital receives the payment, it will provide Digerati with a letter confirming that the notes have a zero balance and are fully paid off. This agreement finalizes the financial obligations between the parties regarding these specific notes.
Exhibit 4.5
Date: October 15th, 2020
Promissory Note Issuer: Digerati Technologies, Inc.
Re: Convertible Promissory Note Payoff Agreement
This letter is to confirm an agreement, whereby Platinum Point Capital, LLC agrees to accept $139,000.00 from Digerati Technologies, Inc. (“the Issuer”) as consideration to extinguish certain convertible promissory notes and share purchase agreements entered into by both parties on July 11th 2019, and on October 18th, 2019 as outlined below:
| ● | July 11th, 2019 Convertible Promissory Note | |
| o | Total Remaining Balance: $72,529.60 | |
| ● | October 18th, 2019 Convertible Promissory Note | |
| o | Total Remaining balance: $68,168.10 (Minus agreed disc. of $1,697.70) |
| Total Balance Due: | $ | 139,000.00 |
Upon confirmation of receipt of the wired funds from the Issuer, Platinum Point Capital will provision the Issuer with a zero-balance letter with regards to convertible promissory notes referenced in this email.
Feel free to contact us if you have any questions.
Sincerely,
Brian Freifeld
| /s/ Arthur L Smith | /s/ Brian Freifeld | |
| Art Smith : Digerati Technologies Inc | Brian Freifeld : Platinum Point Capital |
