Informal Funding Agreement Between Company and Officers Abraham and Martin
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Summary
This informal agreement states that Mr. Abraham and Ms. Martin, who are directors, officers, and principal shareholders of the Company, have verbally agreed to provide funds to the Company as needed to support start-up operations and cover expenses related to the Company's registration statement and ongoing operations. There are no set repayment terms, so any funds loaned will be payable on demand. This agreement is verbal and not formalized in writing.
EX-10.1 2 ex-10_1.htm EX-10.1
EXHIBIT 10.1
INFORMAL AGREEMENT WITH COMPANY OFFICERS
Mr. Abraham and Ms. Martin, directors, officers and principle shareholders of the Company, have verbally agreed to advance sufficient funds to the Company, on an as-needed basis, to assist in start-up operations, including expenses associated with the Company's registration statement on Form S-1 and the Prospectus contained therein, and to continue operations if funds are required.
Because there are no agreed upon terms for the repayment of any funds loaned to the Company, the loans, when and if, made should be considered payable on demand.
