Note and Security Agreement between Megola Inc. and Pacific Channel Ltd. dated July 24, 2007
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Summary
Megola Inc. and Pacific Channel Ltd. have entered into a Note and Security Agreement on July 24, 2007. This agreement acknowledges that Pacific Channel Ltd. has fully paid off Megola’s loan obligations to FireStop USA, LLC under a previous agreement dated February 9, 2007. As a result, Megola now owes its obligations to Pacific Channel Ltd. under the new Note and Security Agreement. The agreement is signed by authorized representatives of both companies.
EX-10.2 3 v084098_ex10-2.htm
July 24, 2007
July 24, 2007
Megola Inc. (Megola) and Pacific Channel Ltd. (PCL) acknowledge that PCL has fulfilled all loan obligations on Megola’s behalf to FireStop USA, LLC (Note and Security Agreement dated February 9, 2007) in their entirety.
As a result Megola and PCL have entered into a Note and Security Agreement as of July 24, 2007.
| Megola, Inc. By: /s/Joel Gardner, President Joel Gardner, President | Pacific Channel Ltd. By: /s/ Lusmiati Marsudidjaja Lusmiati Marsudidjaja |
