Unassociated Document


    Exhibit
10.49


    


    100%
CONVERTIBLE PROMISSORY NOTE EXTENSION AGREEMENT


    


    This 100%
CONVERTIBLE PROMISSORY NOTE EXTENSION AGREEMENT (the “Agreement”) dated this
12th
day of October 2009, is entered into by and between Dot VN, Inc., a Delaware
corporation (the “Maker”) and Louis Huynh (the
“Holder”).

    


    Recitals

     

    
      	
               
      

            	
              A.

            	
                    
                      
                        
                    Maker
      made, executed and delivered to the order of Holder that certain 100%
      Convertible Promissory Note (the “Note”) dated July 6, 2009, in the
      principal sum of $113,243.81 with interest payable at the rate of 8% per
      annum, which Note is due and payable on October 16, 2009 (the “Due
      Date”).

                  

                

              

            
	 	 	 
	 	B.	      
                    
                      
                  Make
      and Holder on October 12, 2009 extended the Due Date of the Note to
      December 31, 2009 (“First Extended Due
      Date”).

                

              

            
	 	 	 
	 	C.	      
                    
                      
                  Maker
      and Holder desire to modify the terms of the Note to extend the First
      Extended Due
  Date.

                

              

            


    

     

    NOW,
THEREFORE, for and in consideration of the mutual covenants contained herein and
for other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

    


    Agreement

    


    
      	
               
      

            	
              1.

            	
              The
      First Extended Due Date of the Note is extended to December 31, 2009, at
      which time the entire amount of principal plus accrued interest shall be
      due and payable in full.

            


    

    


    
      	
               
      

            	
              2.

            	
              Except
      as provided herein, the terms and provisions of the Note shall remain
      unchanged and shall remain in full force and effect; the Note as modified
      and amended hereby is ratified and confirmed in all
    respects.

            


    

     

    
      	
               
      

            	
              3.

            	
              The
      terms and provisions hereof shall be binding upon and inure to the benefit
      of the parties hereto, their heirs, representatives, successors and
      assigns

            


    

    


    IN
WITHNESS WHEREOF, this Agreement is effective as of the date first above
written.

     

    
      	
              “MAKER”

              Dot VN, Inc.

            	 	 	
              “HOLDER”

              Louis Huynh

            	 
	 	 	 	 	 
	
              /s/
      Thomas Johnson 

            	 	 	
              /s/
      Louis Huynh

            	 
	
              By:         Thomas
      Johnson 

            	 	 	
              By:         Louis
      Huynh

            	 
	
                    
                Its:         CEO