Confirmation of Convertible Promissory Note Amendment, dated March 22, 2023
Exhibit 10.22
March 22, 2023
Attn: Leonard Mazur, LMazur Associates JV
10 Cove Place
Mountain Lakes, NJ 07046
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Re: Convertible Promissory (Mazur) Note Confirmation
Our independent auditors, MSL, P.A., are conducting an audit of the financial statements of Hesperos, Inc. as of and for the year ended December 31, 2022. Please confirm directly to them the following information related to our convertible note payable to you on December 31, 2022:
| Note No. | Original date of note | Original principal note amount | Interest Rate | Cash paid for interest during 2022 | Loan balance as of 12/31/2022, including capitalized interest | |||||||||||||
| #1 | 3/28/2022 | $ | 200,000 | 12 | % | $ | 0 | $ | 219,755 | |||||||||
The original term of this note was for a period of six (6) months under the assumption that an IPO would be executed within that time frame. However, due to unstable market conditions our banker, Think Equity, decided that we needed to wait for market conditions to improve and extend the term of this note until such time an IPO is executed.
Please indicate in the space provided below whether the above is in agreement with your records. If it is not, please furnish our auditors any information you may have that will help them reconcile the difference.
After completing the above information, signing and dating your reply, please email it directly to MSL, PA., Attn: __________________________.
Very truly yours,
| /s/ Ken Najour | |
| Ken Najour | |
| Chief Financial Officer | |
| To: MSL, P.A. |
(407) 900-591512501 Research Pkwy, Suite 100 hesperosinc.com
Orlando, FL 32826
The above information is correct, except as noted below.
If there are any direct or contingent liabilities to you not otherwise indicated above, please list:
| Signature: | /s/ Leonard Mazur | |
| Title: | Partner | |
| Phone #: | 973 ###-###-#### | |
| Date: | 3/23/23 |
(407) 900-591512501 Research Pkwy, Suite 100 hesperosinc.com
Orlando, FL 32826
