Amendment to Letter of Intent Among WorldWide Web NetworX, International Commerce Exchange Systems, and eMarketplaces

Summary

WorldWide Web NetworX Corporation, International Commerce Exchange Systems, Inc., and eMarketplaces, Inc. have agreed to amend their previous letter of intent. The amendment clarifies the handling of a $500,000 loan, specifying that $200,000 will be paid directly to D.H. Blair Investment Banking Corp. to settle prior loans, and $300,000 will be sent to EM International to pay certain outstanding bills. All other terms of the original agreement remain unchanged.

EX-10.79 4 a2039421zex-10_79.txt EXHIBIT 10.79 WORLDWIDE WEB NETWORX CORPORATION 521 FELLOWSHIP ROAD - SUITE 130 MT. LAUREL, NJ 08054 ###-###-#### FAX ###-###-#### February 16, 2001 International Commerce Exchange Systems, Inc. 18 W. 18th Street New York, NY Attn: Henry Kauftheil, Chairman eMarketplaces, Inc. 18 W. 18th Street New York, NY Attn: Henry Kauftheil, Chairman RE: LETTER OF INTENT Dear Henry and Mordy: This will confirm that we have agreed to amend the letter of intent, dated February 12, 2001, by and among International Commerce Exchange Systems, Inc., eMarketplaces, Inc. and WorldWide Web NetworX Corporation (the "LOI"), as follows: 1. The following two sentences are hereby added to the end of Paragraph 6 of the LOI: The parties acknowledge that (a) D.H. Blair Investment Banking Corp. ("Blair") loaned the sum of $200,000 to ICES, on or about February 14, 2001, (b) ICES loaned such sum to EM International, and (c) EM International used the proceeds of said loan to pay certain of the payables listed on Exhibit B. Accordingly, the EM International Loan shall be disbursed by WWWX as follows: the sum of $200,000 shall be wire transferred directly to Blair, pursuant to written wiring instructions to be provided to WWWX by Blair, in payment of the loans extended by Blair to ICES and by ICES to EM International, and the sum of $300,000 shall be wire transferred to EM International, pursuant to the wiring instructions provided to WWWX by EM International, and shall be used to pay the payables listed on Exhibit B that were not paid with the proceeds of the Blair loan. 2. Except as specifically provided herein, the LOI shall remain in full force and effect, as written. If the foregoing accurately reflects our agreement, please execute this letter in the space provided below and return it to the undersigned. Very truly yours, /s/ Carol C. Knauff - -------------------- Carol C. Knauff Chairman, President and Chief Executive Officer WorldWide Web NetworX Corporation Accepted and Agreed: EMARKETPLACES, INC. By: /s/ Henry Kauftheil -------------------------------------------- Henry Kauftheil, Chairman INTERNATIONAL COMMERCE EXCHANGE SYSTEMS, INC. By: /s/ Henry Kauftheil ---------------------------- Henry Kauftheil, Chairman