Notice of Conversion by Richard J. Martin for Cleartronic, Inc. Series A Convertible Preferred Stock
Richard J. Martin has notified Cleartronic, Inc. that he is converting $80,595.58 in accrued dividends from his Series A Convertible Preferred Stock into 1,611,912 shares of Cleartronic, Inc. common stock at a conversion price of $0.05 per share. The new shares will be issued in Martin's name, and he agrees to pay any related taxes or charges. The conversion is effective as of September 20, 2019.
Exhibit 10.11
NOTICE OF CONVERSION
September 20, 2019
Board of Directors
Cleartronic, Inc.
8000 N Federal Hwy, Suite 100
Boca Raton, FL 33487
Gentlemen:
The undersigned, Richard J. Martin (“Martin”) hereby irrevocably elects to convert
$80,595.58 of accrued dividends due on Cleartronic, Inc. Series A Convertible Preferred Stock owned by Martin into 1,611,912 shares of Cleartronic, Inc. common stock.
The shares are to be issued in the record name of the undersigned and the undersigned agrees to pay all transfer and other taxes and charges applicable thereto.
Date of Conversion: September 20, 2019
Applicable Conversion Price: $0.05
Shares are to be registered in the following name:
Richard J. Martin
10306 Barberville Rd.
Fort Mill, SC 29707
/s/ Richard J. Martin
Richard J. Martin
