Verbal Loan Agreement between Mikrocoze Inc. and Sukhmanjit Singh
Mikrocoze Inc. and its sole officer and director, Sukhmanjit Singh, have a verbal agreement in which Mr. Singh will loan funds to the company if it runs out of cash before its registration statement becomes effective. This arrangement ensures the company can complete the registration process, but full funding will still be needed to fully implement its business plan. The agreement is informal and only covers the period leading up to the registration's effectiveness.
EXHIBIT 10.1
Verbal Loan Agreement – Mikrocoze Inc. and Sukhmanjit Singh
As per Item 601(b)(10) of Regulation S-K; Where a registrant is party to an oral contract that would be required to be filed as an exhibit pursuant to Item 601(b)(10) if it were written, the registrant should provide a written description of the contract similar to that required for oral contracts or arrangements pursuant to Item 601(b)(10)(iii).
Mikrocoze Inc. and Sukhmanjit Singh entered into a verbal agreement whereby Mr. Singh, the Company’s sole officer and director, has verbally agreed to loan the company funds to complete the registration process in the event that the Company depletes its current cash reserves prior to effectiveness of this registration statement, but we will require full funding to begin to implement our complete business plan.
