Informal Funding Agreement Between Company and Officers Oliveira and Davies
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Summary
This informal agreement states that company officers and principal shareholders, Messrs. Oliveira and Davies, 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 terms for repayment, so any funds loaned will be considered 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
Messrs. Oliveira and Davies, 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.
