By e-mailFriday, 20 August 2010,

Entrepreneurs Institute Suite 802, Tower 2, Lippo Centre, 89 Queensway, Hong Kong Tel: +852 2861 3833       Fax: +852 2527 0662 E-mail: ***@***                  Website: www.ei-online.net Building Tomorrow's Business Leaders Today

Our Ref : 3797-EI000231

 

Oteegee Innovations, Inc.

Attn: Mr. Jordan Starkman,

By e-mail

Friday, 20 August 2010,

 

Please consider this letter formal notice of termination of the Letter of Intent (L01) of March 10, 2010 signed by your Mr. Jordan Starkman on your behalf under your former name of Pay By the Day Holdings Inc. (PBDH) and exchanged between our companies and six other companies each of which is receiving a copy of this notice as required by the LOI.

 

The LOI provided that PBDH, now named Oteegee Innovations Inc. (OTGI) would raise $250,000 in preliminary funding and $1M to $3.5M within the 120 day due diligence period. Despite extensions of time and efforts to allow flexibility in achieving the intended funding, it is apparent that Oteegee Innovations Inc. will not be successful in raising the necessary funds to finance the enterprise described in the LOT within the foreseeable future.

 

We, therefore, terminate the agreement on the grounds of your default.

 

Please be reminded that the Confidentiality terms set out on page seven of the LOI remain in effect after termination, including the requirement that all signatories approve any public announcement concerning the investment contemplated in the LOI.

 

All of our rights are hereby reserved.

 

Yours faithfully,

 

Liza Chan,

teegee International Holdings Ltd.

 

Our Ref: 1502-E1000232   Oteegee Innovations, Inc. Attn: Mr. Jordan Starkman, By e-mail

Friday, 20 August 2010,

 

Dears Sirs

 

 

Please consider this letter formal notice of termination of the OTGI International Share Exchange Agreement of July 6, 2010 made between us and signed by your Mr. Jordan Starkman on your behalf.

 

That agreement provides that OTGI would raise First Phase Funding of $1,500,000 within thirty days [5(a); 6(ii)(C)]. That agreement further provides that Oteegee International may terminate the agreement forthwith upon notice in writing if OTGI does not raise US $1,500,000 within thirty days of the agreement [17(b)(ii)]. OTGI has not raised the funds required and it is apparent that it will not be successful in raising the funds in the foreseeable future.

 

 

(i) cease to use as its corporate or business name or any part thereof the combination of letters "OTG" or the word "Oteegee";

 

(ii) change its ticker symbol to something that does not use the combination of letters "OTG".

 

 

 

Yours faithfully,