Addendum #2 to Promissory Note and Notice of Conversion between Steven Frye and Elite Data Services, Inc.
This agreement is an addendum to a promissory note originally dated April 15, 2014, between Steven Frye and Elite Data Services, Inc. It allows the outstanding principal and interest on the note, totaling $15,205.91, to be converted into 108,614 shares of Elite Data Services' restricted common stock at the fair market value as of June 15, 2015. Both parties agree to this conversion, and the lender surrenders the note in exchange for the shares.
EXHIBIT 10.53
ADDENDUM #2 TO PROMISSORY NOTE
June 15, 2015
This Addendum #2 to the Promissory Note dated April 15, 2014 between Steven Frye and Elite Data Services, Inc. (collectively “the Parties”) is to allow conversion of the principal balance of the Note including outstanding interest to be payable into Common Stock of the Company at the fair value of the closing stock price calculated as of the date of this Addendum #2.
| By: | /s/ Charles Rimlinger |
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| Charles Rimlinger, Chief Executive Officer |
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| By: | /s/ Steven Frye |
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| Steven Frye, Lender |
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Dated: June 15, 2015
NOTICE OF CONVERSION
The undersigned, the holder of the Promissory Note dated April 15, 2014 with principal and accrued interest amounting to Fifteen Thousand Two Hundred Five and Ninety-One Cents ($15,205.91) hereby surrenders such Note for conversion into One Hundred Eight Thousand Six Hundred Fourteen (108,614) Shares of the Restricted Common Stock of Elite Data Services, Inc., in exchange of the principal balance of the Note and any and all unpaid and accrued interest thereof representing the total unpaid principal and interest amount of such Note, and requests that the certificates for such shares be issued pursuantly.
Date: June 15, 2015
NOTEHOLDER
| By: | /s/ Steven Frye |
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| Steven Frye |
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ELITE DATA SERVICES, INC.
| By: | /s/ Charles Rimlinger |
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| Charles Rimlinger, Chief Executive Officer |
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