Subscription Agreement for Convertible Debentures between David P. Lonski and U.S. Data Authority, Inc.

Summary

David P. Lonski agrees to purchase a $50,000 convertible debenture from U.S. Data Authority, Inc. The debenture pays 10% annual interest and can be converted into preferred stock at $0.20 per share. The preferred stock carries enhanced voting rights for three years, after which it converts to common stock. The agreement is subject to board approval and requires payment and documentation by February 15, 2001. Lonski affirms he is an accredited investor and will provide supporting documentation.

EX-10.2 4 0004.txt SUBSCRIPTION AGREEMENT LONSKI USDA Authority SUBSCRIPTION AGREEMENT FOR CONVERTIBLE DEBENTURES IN U.S. DATA AUTHORITY, INC. The undersigned agrees to subscribe to a convertible debenture in the amount of $50,000 (U.S.). This debenture will bear interest at the rate of 10% per annum from the date of issue. It will be convertible to preferred stock at any time at the rate of $0.20 per share. The preferred stock shall have voting rights equal to 10x the common stock voting rights per share for 3 years from the date of issue. After three years, the preferred shares shall automatically convert to common shares with the same rights and privileges as the existing Section 144 stock. This offer is subject to the approval of the Board of Directors. This subscription should be accompanied by the payment of funds and received by the company by 3:00 p.m. on Thursday, February 15, 2001. BY EXECUTING BELOW, THE UNDERSIGNED REPRESENTS THAT HE/SHE IS AN ACCREDITED INVESTOR, AND AGREES TO COMPLETED ALL NECESSARY DOCUMENTATION TO SUPPORT THIS REPRESENTATION. Dated: 2-15-01 /s/David P. Lonski --------------------------------- Print Name: David P. Lonski Address: ------------------------ SSN/TIN: ------------------------ 3500 NW Boca Raton Boulevard, Building 811 * Boca Raton, Florida 33431 * Tel ###-###-#### * Fax ###-###-#### * www.usda.net