Funds Disbursement Authorization Agreement between Flexxtech Corporation and Dutchess Capital Management LLC/Dutchess Private Equities Fund LP

Summary

Flexxtech Corporation authorizes Dutchess Capital Management LLC and Dutchess Private Equities Fund LP to distribute $40,000 in funds directly to specified third parties as part of the Investor's purchase of Flexxtech's 6% Convertible Debentures. The agreement details the exact amounts and recipients for each payment, with the Investor acting solely as a facilitator and not assuming any liability. The remaining funds will be held for future company obligations as directed by new company officers. The agreement was executed on April 4, 2003.

EX-10.9 11 b46289xxexv10w9.txt FUNDS DISBURSEMENT AUTHORIZATION EXHIBIT 10.9: FUNDS DISBURSEMENT AUTHORIZATION Flexxtech Corporation (the Company") hereby authorizes Dutchess Capital Management LLC and Dutchess Private Equities Fund LP (collectively the "Investor"), to transfer funds directly to the third parties ("Third Parties") and for the amounts listed below, in connection with the Investor's purchase of the Company's 6% Convertible Debentures ("Debentures") in the amount of forty thousand dollars ($40,000) dated April 7, 2003. The Investor's purchase of the Debentures shall be considered paid for in full, for the amounts transferred, immediately upon funds transfer to Third Parties and the Company. The Company acknowledges; (i) that the transfers to Third Parties represent payments for sole obligations of the Company and (ii) the Investor is acting exclusively as a facilitator in this funds distribution transaction and (iii) the Investor does not assume any obligation nor liability on behalf of the Company as a result of the funds distribution transaction. 1. Twenty thousand dollars ($20,000) shall be sent via wire transfer to: Bank: Union Bank ABA# 122000496 Account# 61300-15393 FBO: Kabani & Company, Inc. 2. Nine thousand dollars ($9,000) shall be sent via wire transfer to: Bank: Citibank, NA ABA# 21000089 Account# 92510787 FBO: Dutchess Advisors, Ltd. 3. Two thousand dollars ($2,000) shall be sent via wire transfer to: Bank: US Bank ABA# 122235821 Account# 164300998246 FBO: Shaub & Williams Trust Account 4. Three thousand dollars ($3,000) shall be sent via wire transfer to: Bank: Bank of America ABA# 121000358 Account# 21297-37423 FBO: Don Davis 5. A check for one thousand dollars ($1,000) shall be sent via regular mail to: Cohen & Mohr LLP ATT/Accounts Receivable 1055 Thomas Jefferson St., NW Suite 504 Washington, DC 20007 The balance of five thousand dollars ($5,000) shall be held by the Investor to pay additional Company obligations in the near future. Such instructions to pay, shall be directed by the Company's anticipated new officers and directors, in connection with its current restructuring. AGREED AND ACCEPTED ON APRIL 4, 2003 BY; Flexxtech Corporation Dutchess Capital Management LLC Dutchess Private Equities Fund, LP ________________________ __________________________ Greg Mardock Douglas H. Leighton President A Managing Member