Unassociated Document


    Pinpoint
      Recovery Solutions Corp.

    4350
      W.
      Cypress Street

    Tampa,
      FL
      33607

    


    January
      10, 2008

    


    Neucap,
      Inc.

    1120
      Pinellas Bay Way

    St.
      Petersburg, Fla 33715

    


    Attention:
      Kevin Cappock and Robert Neuman

    


     

    Re: 
Extension
      of Maturity Date of Promissory Note

     

    


    Dear
      Kevin and Robert:

    


    Reference
      is hereby made to the Promissory Note, dated June 26, 2007 (the “Note”),
      made
      by Pinpoint Recovery Solutions Corp., a Delaware corporation (“Pinpoint”),
      in
      favor of Neucap, Inc., a Florida corporation (formerly named “S.A.L.T. Payroll
      Consultants, Inc.”) (the “Holder”)
      in
      original aggregate principal amount of $1,881,550 (the “Principal”).
      

     

    This
      letter confirms that on July 16, 2007, Pinpoint prepaid to the Holder $20,454
      of
      the then-outstanding Principal and $8,624 in accrued interest and that as of
      the
      date thereof and hereof, the outstanding Principal owed to the Holder under
      the
      Note was and is $1,861,096.

     

    This
      letter also (i) memorializes the prior understanding between the Holder and
      Pinpoint that, in exchange for Pinpoint’s promise to pay the Consideration
      (defined below) to the Holder, the Note was amended to extend the Maturity
      Date
      (as defined in the Note) from December 26, 2007 to March 31, 2008 (as so
      extended, the “Extended
      Maturity Date”);
      and
      (ii) confirms that the effective date of such amendment is December 26, 2007.
      The Note, as so amended, is the entire agreement between Pinpoint and the Holder
      with respect to the subject matter thereof and remains in full force and
      effect.

     

    Pinpoint
      hereby covenants to pay, and shall pay, to the Holder on the Extended Maturity
      Date $20,000 in cash or cash equivalent in consideration for the Holder’s
      agreement to so extend the Maturity Date (the “Consideration”).
      The
      Consideration shall not be included in the Principal, and Pinpoint’s covenant to
      pay the Consideration shall be deemed an obligation distinct from and in
      addition to the obligations of Pinpoint set forth in the Note. No interest
      shall
      accrue on the Consideration unless and until Pinpoint shall not have paid the
      Consideration on or prior to the Extended Maturity Date, an in any such event
      shall accrue on the same terms as interest accrues under the Note. 

     

    [The
      signatures to this letter are set forth on the following page.]

     


    
      
         

      

      
         

        
          

        

      

      
         

      

    


    If
      this
      letter accurately describes the amendment to the Note, as well as the payments
      made to date by Pinpoint under the Note, please indicate your agreement by
      signing this letter below.

     

    Sincerely,
      

     

    PINPOINT
      RECOVERY SOLUTIONS CORP.

     

    


    By:_____________________________________

         
      Jon Leslie, Chief Financial Officer

    


    


    ACKNOWLEDGED
      AND AGREED:

    


    Neucap,
      Inc.

    


    By:_____________________________________

         
      Kevin Cappock

    


    


    By:_____________________________________

         
      Robert Neuman