Summary of Oral Extension Terms for Promissory Note with Coastal Investments
This document summarizes the orally agreed extension of a promissory note between the registrant (as borrower) and Coastal Investments (as lender). The original loan of $60,000 at a 10% annual interest rate, initially due on June 18, 2008, has its due date extended to December 31, 2008. No periodic payments are required; both principal and interest are due in full on the new due date.
EXHIBIT 10.64
Description of Oral Extension-Coastal Investments Promissory Note
Summary of Terms of the Orally Agreed upon Extension to following Simple Promissory Note (with corresponding exhibit number of original note) under which Registrant is the Borrower. No periodic payments are required and principal and interest are due on the extended due date.
Original |
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Note |
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| Original | Oral |
| Annual |
Exhibit |
| Loan | Due | Extension |
| % |
Number | Lender | Date | Date | Date | Principal | Rate |
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10.34 | Coastal Investments | 03/18/2008 | 06/18/2008 | 12/31/2008 | $60,000.00 | 10% |
