Loan Commitment Agreement between Seatac Digital Resources, Inc. and America's Minority Health Network, Inc. (June 30, 2009)
Seatac Digital Resources, Inc. agrees to provide America's Minority Health Network, Inc. (AMHN) with up to $500,000 in short-term loans over the next six months to support AMHN's operating expenses as it transitions to a public company. The funds will be provided on an as-needed basis through a second bridge loan. This commitment ensures AMHN has sufficient working capital during its development stage and public company merger process.
Exhibit 10.03
Seatac Digital Resources, Inc.
June 30, 2009
Sky Kelley, President
America’s Minority Health Network, Inc.
345 North Maple Drive, Suite 208
Beverly Hills, California 90210
Re: Funding AMHN- SEATAC short term commitment
Dear Sky:
SEATAC, as a principal shareholder and vendor of AMHN, acknowledges that AMHN is in the process of becoming a “public” company by merging with a subsidiary of a public company. Although expanding rapidly as it executes on its business plan, AMHN remains for the time in the development stage. Neither “pubco” nor AMHN has material cash resources as of this date. On completion of the merger the sole operations of “pubco” will be the business of AMHN.
To assure that AMHN has adequate day to day operating capital over the next six months, inclusive of the added costs associated with being a public company, we at SEATAC are committed to loan AMHN up to an additional five hundred thousand dollars ($500,000) on an “as needed basis” in the form of a second bridge loan (the “Loan Commitment”).
| Sincerely, |
| SEATAC DIGITAL RESOURCES, INC. |
| Robin Tjon |
| President |
555 H St., Suite H, Eureka, CA 95501 —707 ###-###-#### —FAX ###-###-####
