Exhibit 10.2

CONVERTIBLE DEMAND NOTE entered into Panama

BETWEEN

POMA MANAGEMENT S.A., corporation legally constituted, having its head office at
suite 53rd URB, Obarrio, Swiss Tower, 16th floor, Panama, Republic of Panama,
herein represented by Pablo J. Espino, President of the company, duly authorized
as he so declares;

(the “Lender”)

AND:

ECOLOCAP SOLUTIONS INC., corporation legally constituted under the State of
Nevada Laws, having its head office at 740 St-Maurice, suite 102, Montreal,
Quebec, H3C 1L5, herein represented by Dr. Tri Vu Truong, duly authorized as he
so declares;

(the “Borrower”)

Make the following declarations and covenants:

 
LOAN
 
1)           The Lender has agreed to advance to the Borrower during the year
2008, a total of Four Hundred and Fifty One Thousand Dollars American
($451,000.00US) (the “Loan”).
 
2)           The said Loan was granted as monetary advances;
 
3)           The Borrower recognises that the terms and conditions of the Loan
are for the exclusive benefit of the Lender, and the latter may renounce to it,
in whole or in part, at its sole discretion.
 
4)            If the Borrower defaults on any obligation whatsoever in favour of
the Lender and, if at the time of the default, the Lender has not yet paid out
the entire capital amount of the Loan, the Lender may, at its sole discretion
and without prior notice, temporarily delay or definitively cease to pay out any
other amount whatsoever to the Borrower, subject to its other rights and
recourses.
 
 
 
 

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INTERESTS, TERM AND REIMBURSEMENT
 
5)           The interest rate for the Loan is 10% year, and the amount of
accrued interest as of June 30, 2009 is $39,490.28 USD, said interests being
capitalized and is part of the Loan.
 
6)            Interest shall be calculated monthly, from the first disbursement,
on the total capital amount advance, as well after as before maturity, default
or judgment, from the date of full payment.  Such interest rate is determined
upon the basis of a three hundred and sixty-five (365) day year, the Lender's
usual practice.
 
7)           The Loan shall be reimbursable on demand (the “Loan Term”).
 
8)           All the payments required under the terms of the present Agreement
that have not been made on schedule shall be subject to the aforesaid interest
rate from the expiry date of all such payments and shall be payable on demand.
 
 
LOCATION OF THE PAYMENT
 
9)           Any payment to the Lender must be made in American currency at the
address of the Lender or to any other location that the Lender may designate in
writing.
 
 
ASSIGNMENT OR TRANSFER
 
10)           The  Borrower shall  not assign, transfer,  hypothec or otherwise
dispose of the rights it has or may have in relation to the Loan.

11)           The Lender is allowed to assign, transfer, hypothec or otherwise
dispose of the rights it has or may have in relation to the Loan.

 
TIME
 
12)           Time shall be of the essence of this Agreement and the agreement
created by the acceptance thereof.
 
 
ELECTION OF DOMICILE
 
13)           Any notice given to the Borrower shall be sent at the last address
provided in writing to the Lender.  If the Lender does not find the Borrower at
this address, the may serve or produce any notice or communication addressed to
him at the office of the Superior Court of the District of Montreal where the
Borrower has elected domicile.
 
 
CONVERSION OF LOAN

14)          In the next 90 days the Lender, or any beneficiary of the present
agreement, will have the exclusive right to convert the Loan or a portion of the
Loan in restricted shares of Common Stock (the “Shares”) of the Borrower at a
fix price.
 
 
 
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15)          The Conversion will process following the reception by the Borrower
of a notice of Conversion as provided in schedule 14, send by the Lender at the
last known address of the Borrower (the “Conversion Event”).

16)          The price for the Shares of the Borrower is equal to the average
market closing price of the Shares of the Borrower during the last 30 days,
minus a 10% discount.

17)          Upon the Conversion Event, the Borrower shall take all necessary
actions to convert the Loan into Restricted Shares of Common Stock of the
Borrower.
 
 
EFFECTIVE

18)          The present shall be effective as of its final execution by the
parties.
 
 
GOVERNING LAW

19)          The present, as well as the interpretation or construction thereof,
the execution or performance thereof, the application and validity thereof, as
well as the effects thereof, are subject to the applicable laws in force and in
effect in Panama, which govern all or part of the provisions hereof.
 
 
GENERAL

20)          The present hereby cancels all prior agreements between the parties
relating to the subject hereof.

 
THE PARTIES HAVE SIGNED THE PRESENT AGREEMENT AS OF  ___________________, 2009.
 
 

          For the Borrower       By: TRI VU TRUONG       Dr. Tri Vu Truong,
Chief Executive officer          

          For the Lender       By: PABLO J. ESPINO       Pablo J. Espino      
Representative of the Lender.  

 
 

 
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SCHEDULE 14
NOTICE OF CONVERSION

           The undersigned hereby irrevocably elects, as of
______________,  200_ to convert $__________ of Convertible Loan into Common
Stock of EcoloCap Solutions Inc. (the "Company") according to the conditions set
forth in the Memorandum of Convertible Loan Agreement dated  _______________,
and issued by the Company.

Date of Conversion________________________________________________

Applicable Conversion Price________________________________________

Number of Shares Issuable upon this conversion_______________________

Name (Print) ______________________________________________________

Address__________________________________________________________

_________________________________________________________________

Phone______________________   Fax_________________________________

By: _______________________________

 
 
 
 

 

 
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