Settlement of 9% ConvertibleSubordinate Debenture due 2011, dated June 1, 2006
EX-10.4 12 v134796_ex10-4.htm
EXHIBIT: 10.4
Settlement of 9% Convertible Subordinate Debenture due 2011, dated June 1, 2006
ATSI Communications, Inc. (“ATSI) executed a 9% Convertible Subordinate Debenture dated June 1, 2006 (“Debenture”) in the Principal Amount of $113,568. As of October 20, 2008 the parties have agreed to settle the remaining balance due as follows:
| BANKCORP OF RANTOUL | ||||||||||||||||||
| PAYOFF | CONVERSION | COMMON | ||||||||||||||||
| PRINCIPAL | INTEREST | TOTAL | PRICE | SHARES | ||||||||||||||
| $ | 45,427 | $ | 1,579 | $ | 47,007 | $ | 0.27 | 174,098 | ||||||||||
ATSI is not and has not been in default of the payment terms of the Debenture.
Now comes Bancorp of Rantoul (“Bancorp”) and represents it remains the holder of such Debenture and agrees that it will fully discharge the Debenture.
Signed this 20th day of October, 2008.
| Bancorp of Rantoul | |
| By | /s/ Dennis Long |
It’s Authorized Representative
Settlement of 9% Convertible Subordinate Debenture due 2011, dated June 1, 2006
ATSI Communications, Inc. (“ATSI) executed a 9% Convertible Subordinate Debenture dated June 1, 2006 (“Debenture”) in the Principal Amount of $113,568. As of October 20, 2008 the parties have agreed to settle the remaining balance due as follows:
| THOMAS BRYAN | ||||||||||||||||||
| PAYOFF | CONVERSION | COMMON | ||||||||||||||||
| PRINCIPAL | INTEREST | TOTAL | PRICE | SHARES | ||||||||||||||
| $ | 45,427 | $ | 1,579 | $ | 47,007 | $ | 0.27 | 174,098 | ||||||||||
ATSI is not and has not been in default of the payment terms of the Debenture.
Now comes Thomas Bryan (“T. Bryan”) and represents it remains the holder of such Debenture and agrees that it will fully discharge the Debenture.
Signed this 20th day of October, 2008.
Thomas Bryan
| By | /s/ Thomas Bryan |
It’s Authorized Representative
Settlement of 9% Convertible Subordinate Debenture due 2011, dated June 1, 2006
ATSI Communications, Inc. (“ATSI) executed a 9% Convertible Subordinate Debenture dated June 1, 2006 (“Debenture”) in the Principal Amount of $113,568. As of October 20, 2008 the parties have agreed to settle the remaining balance due as follows:
| DENNIS LONG | ||||||||||||||||||
| PAYOFF | CONVERSION | COMMON | ||||||||||||||||
| PRINCIPAL | INTEREST | TOTAL | PRICE | SHARES | ||||||||||||||
| $ | 45,427 | $ | 1,579 | $ | 47,007 | $ | 0.27 | 174,098 | ||||||||||
ATSI is not and has not been in default of the payment terms of the Debenture.
Now comes Dennis Long (“D. Long”) and represents it remains the holder of such Debenture and agrees that it will fully discharge the Debenture.
Signed this 20th day of October, 2008.
Dennis Long
| By | /s/ Dennis Long |
It’s Authorized Representative
Settlement of 9% Convertible Subordinate Debenture due 2011, dated June 1, 2006
ATSI Communications, Inc. (“ATSI) executed a 9% Convertible Subordinate Debenture dated June 1, 2006 (“Debenture”) in the Principal Amount of $75,296. As of October 20, 2008 the parties have agreed to settle the remaining balance due as follows:
| STEVEN COMBEST | ||||||||||||||||||
| PAYOFF | CONVERSION | COMMON | ||||||||||||||||
| PRINCIPAL | INTEREST | TOTAL | PRICE | SHARES | ||||||||||||||
| $ | 30,118 | $ | 1,047 | $ | 31,166 | $ | 0.27 | 115,428 | ||||||||||
ATSI is not and has not been in default of the payment terms of the Debenture.
Now comes Steven Combest (“S. Combest”) and represents it remains the holder of such Debenture and agrees that it will fully discharge the Debenture.
Signed this 20th day of October, 2008.
Steven Combest
| By | /s/ Steven Combest |
It’s Authorized Representative
