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 Exhibit 10.1

LETTER OF INTENT   June 30, 2010

 

Mr. Simon Arnison   Mount Knowledge USA, Inc.   Vice President, Secretary and
Director   39555 Orchard Hill Place   Novi, Michigan 48375  

Re: Extension of Letter of Intent dated April 26, 2010

Dear Mr. Arnison:

This letter confirms our mutual intentions to extend the effective period of the
Letter of Intent executed on April 26, 2010 by and between MOUNT KNOWLEDGE
HOLDINGS, INC., a fully reporting public Nevada corporation (“Purchaser and/or
MKHD”) and MOUNT KNOWLEDGE USA, INC. (“MTKUSA”), a privately-held Nevada
corporations and its Shareholders (“Shareholders”), hereinafter MTKUSA and the
Shareholders shall be collectively referred to as (the “Sellers”) with respect
to the potential transaction described therein.

All of the terms and conditions of the proposed transaction shall be set forth
in a definitive agreement (the “Stock Purchase and Share Exchange Agreement”) to
be executed on or before August 31, 2010 (the “Extended Period”), with a
subsequent date of closing (the “Closing Date”), to be mutually agreed to by
Sellers and Purchaser.

The modification and extension is required for Mount Knowledge USA, Inc. to
complete the ongoing Regulation D Rule 506 Private Placement Memorandum (PPM) to
raise a maximum of $1,500,000 dollars in equity capital in MTKUSA, of which
MTKUSA presented to MKHD as of the date of this Letter of Intent extension that
it has already raised a total of approximately $1,200,000 dollars (unaudited) to
date. Both parties agree that MTKUSA shall be allowed to continue to raise
capital from its PPM until the Closing Date at which time the shareholders of
record of MTKUSA at such date would be acknowledged and included in the executed
Stock Purchase and Share Exchange Agreement.

This document, in and of itself, does not represent an enforceable legal
contract. This extension, when executed by both parties, shall not supersede any
of the terms and conditions set forth in the previously executed Letter of
Intent on or about April 26, 2010. All terms and conditions of the original
Letter of Intent dated on April 26, 2010 shall remain in full effect.

If the foregoing terms and conditions are acceptable to Mount Knowledge USA,
Inc, please so indicate by initialing each page and signing the enclosed copy of
this Letter of Intent and returning it to the attention of the undersigned.

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Sincerely,       MOUNT KNOWLEDGE HOLDINGS, INC.                                
 /s/ Daniel A. Carr   By:  _________________________________                    
 Daniel A. Carr,                      President and CEO           ACCEPTED AND
AGREED               MOUNT KNOWLEDGE USA, INC.                                
 /s/ Simon Arnison   By:  _________________________________                    
 Simon Arnison                      Vice President, Secretary and Director      
    Date: June 30, 2010  

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