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EX-10.2 3 ex102.htm AGREEMENT BETWEEN SIML AND DIRECT CAPITAL GROUP INC. DATED MAY 19, 2016 ex102.htm
EXHIBIT 10.2 ( EXHIBIT A)
DIRECT CAPITAL GROUP INC
1401 CAMINO DEL MAR
DEL MAR CA 92014
May 19, 2016
Gary Tilden, CEO
Simlatus Corporation
175 Joerschke Dr., Suite A
Grass Valley, CA 95945
Dear Mr. Tilden:
Direct Capital Group Inc. agrees that the following notes between Direct Capital Group, Inc. and Simlatus Corporation (Formerly Grid Petroleum Corporation) be cancelled effective immediately. Simlatus Corporation agrees to cancel any further liabilities associated with exploration and development costs and the acquired oil and gas lease of properties in California associated with Direct Capital Group, Inc.; and Direct Capital Group, Inc. agrees to accept the ongoing liabilities of the exploration and development costs and the acquired oil and gas leases.
| Original | Current | Principal | P & I | ||||||||||||||
| Principal | Original | Interest | Balance | Balance | |||||||||||||
| Payee | Amount | Date | Rate | 19/03/2016 | 19/03/2016 | ||||||||||||
| Direct Capital Group | 80,000 | 02/29/16 | 8.00 | % | 80,000.00 | $ | 81,298.00 | ||||||||||
| Direct Capital Group | 80,000 | 01/31/16 | 8.00 | % | 80,000.00 | $ | 81,806.00 | ||||||||||
| Direct Capital Group | 80,000 | 12/31/15 | 8.00 | % | 80,000.00 | $ | 82,350.00 | ||||||||||
| Direct Capital Group | 80,000 | 11/30/15 | 8.00 | % | 80,000.00 | $ | 82,893.00 | ||||||||||
| Direct Capital Group | 80,000 | 10/31/15 | 8.00 | % | 80,000.00 | $ | 83,818.00 | ||||||||||
| Direct Capital Group | 240,000 | 03/31/15 | 8.00 | % | 24,000.00 | $ | 282,319.00 | ||||||||||
| Direct Capital Group | 360,000 | 01/01/15 | 8.00 | % | 360,000.00 | $ | 423,204.00 | ||||||||||
| Direct Capital Group | 48,000 | 10/31/14 | 8.00 | % | 45,157.00 | $ | 49,572.00 | ||||||||||
| Direct Capital Group | 360,000 | 10/01/14 | 22.00 | % | 360,000.00 | $ | 463,029.00 | ||||||||||
| Direct Capital Group | 48,000 | 07/31/14 | 22.00 | % | - | $ | 8,919.00 | ||||||||||
| Direct Capital Group | 48,000 | 04/30/14 | 22.00 | % | 23,000.00 | $ | 38,060.00 | ||||||||||
| Direct Capital Group | 16,000 | 02/28/14 | 22.00 | % | - | $ | 3,561.00 | ||||||||||
| Direct Capital Group | 16,000 | 01/31/14 | 22.00 | % | - | $ | - | ||||||||||
| Direct Capital Group | 16,000 | 12/31/13 | 22.00 | % | - | $ | - | ||||||||||
| Direct Capital Group | 16,000 | 11/30/13 | 22.00 | % | - | $ | - | ||||||||||
| Direct Capital Group | 16,000 | 10/31/13 | 22.00 | % | - | $ | - | ||||||||||
| Direct Capital Group | 11,000 | 08/31/13 | 22.00 | % | - | $ | - | ||||||||||
| Direct Capital Group | 14,072 | 07/31/13 | 22.00 | % | 72.00 | $ | 5,013.00 | ||||||||||
| Direct Capital Group | 11,000 | 07/31/13 | 22.00 | % | - | $ | - | ||||||||||
| TOTALS | $ | 1,620,072.35 | $ | 1,212,229.00 | $ | 1,685,842.00 | |||||||||||
Regards,
/s/ Jon Fullenkamp
Jon Fullenkamp, President
Direct Capital Group Inc
