Contract Extension Agreement between Prospect Silica Enterprises, Inc. and Q Lotus Holdings, Inc.
Prospect Silica Enterprises, Inc. and Q Lotus Holdings, Inc. have agreed to extend their existing contract by three months, moving the expiration date to January 31, 2014. Both parties have also agreed to waive any past defaults under the contract. The extension is intended to benefit both companies and is effective from November 1, 2013, through January 31, 2014.
EXHIBIT 10.50
PROSPECT SILICA ENTERPRISES, INC.
October 29, 2013
Contract Extension
| To: | Q lotus Holdings Inc. |
520 N. Kingsbury Street, Ste. 1810
Chicago, ll 60654
Att: Mr. Gary Rosenberg and Jorge Gonzales.
Re: 3 month extension via current contract.
We at Prospect Silica Enterprises Inc. by way of the board of directors have called a special meeting regarding the extension and approval of time.
The parties hereto hereby waive all past defaults and extend the Contract to a revised expiration date of January 31, 2014.
The extension is approved for an additional 3 months starting November 1, 2013 and is hereby extended to January 31, 2014. It is our desire that this contract extension will be beneficial to all parties.
Sincerely,
PROSPECT SILICA ENTERPRISES, INC.
______________________________
Ron Gibson,
President
AGREED AND ACCEPTED:
Q LOTUS HOLDINGS, INC.
| _______________________________ | _____________________________ |
| Gary Rosenberg, | Jorge Gonzalez, |
| Chief Executive Officer | Chief Financial Officer |
201 FOREST CREEK RD, JACKSONVILLE, OR 97530
