MEMO AUTHORIZING THE CONVERSION OF DEBT


EXHIBIT 10.1




MEMO AUTHORIZING THE CONVERSION OF DEBT




Date: April 25, 2013




To: Mack Leath, Meshugeneh




From: Neal Sessions, SIBE




Re: Conversion of debt obligations




SIBE’s Board of Directors met on the 19th of April and approved the issuances of restricted shares for consideration of the current debt owed to Meshugeneh LLC.  This memo is to serve as a formal agreement between Meshugeneh, LLC and Sibling Group Holdings, Inc. (SIBE), for the conversion of all obligations as of the above date into restricted common stock in SIBE.




Meshugeneh has made various advances on behalf of SIBE and is currently owed approximately $59,376 in total. Meshugeneh hereby agrees to accept 257,040 shares of restricted common stock in full settlement of these obligations. The formula used in determining the shares to be issued is: The full amount owed at the time of the agreement, divided by 110% of the average closing stock price on the ten (10) days prior to the agreement to convert. In this case the average closing price, using data from Yahoo finance is $.21 per share. Therefore, the share price used in determining the shares to be issued is $.231, which is 110% of that amount.




All parties agree that any discrepancy in the dollars actual owed will be made after the completion of the 2013 audit and deducted from future advances if necessary. The amounts shall be verified, but in general, consist of the following:




A DETAIL OF THE SHARE PRICE CALCUALTION AND AMOUNTS OWED FOLLOW




Agreed to this 16th day of May, 2013, by:







			
	Neal B. Sessions

	 
	Mack R. Leath


	Neal B. Sessions 

	 
	Mack R. Leath


	Chairman, CEO and CFO

	 
	Manager of Meshugeneh, LLC


	 
	 
	 
















							
	SHARE INFO FOR 10 DAYS PRIOR TO CONVERSION

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	Date

	Open

	High

	Low

	Close

	Volume

	Adj Close*


	24-Apr-13

	0.17

	0.22

	0.17

	0.22

	23,600

	0.22


	23-Apr-13

	0.16

	0.2

	0.15

	0.2

	156,600

	0.2


	22-Apr-13

	0.18

	0.22

	0.15

	0.22

	4,400

	0.22


	19-Apr-13

	0.22

	0.22

	0.22

	0.22

	300

	0.22


	18-Apr-13

	0.16

	0.22

	0.14

	0.18

	15,700

	0.18


	17-Apr-13

	0.15

	0.23

	0.15

	0.23

	20,900

	0.23


	16-Apr-13

	0.12

	0.19

	0.12

	0.19

	38,900

	0.19


	15-Apr-13

	0.16

	0.25

	0.15

	0.25

	13,900

	0.25


	12-Apr-13

	0.13

	0.17

	0.13

	0.17

	80,700

	0.17


	11-Apr-13

	0.14

	0.27

	0.13

	0.27

	88,600

	0.27


	 
	 
	 
	 
	 
	AVG CLOSING PRICE

	0.21


	 
	 
	 
	 
	 
	110%

	0.231







				
	Meshugeneh LLC Payables 

	 

	 
	GL Date

	Additional Desc

	Amount


	 
	10/1/2012

	Edgar Filing Fees

	$2,500.00 


	 
	12/31/2012

	Sherb Audit Fees

	$5,000.00 


	 
	12/31/2012

	Ligett Vogt & Webb Audit

	$5,000.00 


	 
	12/31/2012

	B2B CFO, Snyder

	$3,500.00 


	 
	12/31/2012

	DC - 2 tix at 1,120 plus hotel and meals

	$2,655.42 


	 
	12/31/2012

	FINRA response

	$345.00 


	Meshugeneh LLC Payables at 2012 year-end 

	$19,000.42 


	 
	 
	 
	 

	Mesh activity for Q1 2013

	 

	 
	Trans. Date

	 

	 
	1/3/2013

	Direct Deposit to NBS

	$1,000.00 


	 
	1/9/2013

	Direct Deposit to NBS

	$2,000.00 


	 
	1/11/2013

	Direct Deposit to NBS

	$2,000.00 


	 
	1/28/2013

	RECUR DEBIT CRD PMT01/27 YAHOO *NEWCO4EDUC 408-916-2149 CA 474165XXXXXX1473 003027595902106 ?MCC=4816

	$13.94 


	 
	2/6/2013

	CHECK # 1734    SCI Group / PR exp

	$2,000.00 


	 
	2/8/2013

	RECUR DEBIT CRD PMT02/07 YAHOO *NEWCO4EDUC 408-916-2149 CA 474165XXXXXX1473 083038549805821 ?MCC=4816

	$9.00 


	 
	2/11/2013

	CHECK # 1735   Deposited to WFB Checking

	$2,400.00 


	 
	Feb. 2013

	Transfer to WFB Checking

	$5,000.00 


	 
	Feb. 2013

	Initial deposti to WFB checking

	$210.00 


	 
	Feb. 2013

	Initial deposit to WFB savings

	$50.00 


	 
	3/12/2013

	CHECK CRD PURCHASE 03/11 YAHOO *NEWCO4EDUC 408-916-2149 CA 474165XXXXXX6938 283069424101776 ?MCC=4816

	$22.94 


	 
	 
	Q1 2013 Mesh Fundings

	$14,705.88 


	 
	 
	 
	 

	 
	Q1 GL Balance for Mesh

	$33,706.30 


	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 















				





				
	Mesh Q2 EXPENSES IN 2013 THROUGH 4-25

	 

	 
	 
	 
	 

	 
	4/15/2013

	CHECK # 1664 deposit to WFB Checking

	$3,000.00 


	 
	4/15/2013

	WT FED#08571 CITIBANK N.A. NEW /FTR/BNF=LIGGETT, VOGT AND WEBB, PA SRF# 0066771105312937 TRN#130415166090 RFB#

	$5,000.00 


	 
	 
	 
	 

	 
	4/22/2013

	CHECK CRD PURCHASE 04/20 VOC*PRWEB NEWS SVC 866-6406397 MD 474165XXXXXX8427 083108632354879 ?MCC=5968

	$499.00 


	 
	4/22/2013

	CHECK CRD PURCHASE 04/20 VOC*PRWEB NEWS SVC 866-6406397 MD 474165XXXXXX8427 163108641686086 ?MCC=5968

	$100.00 


	 
	 
	 
	 

	 
	4/25/2013

	CHKCARDMACREPORT MEDIAMARCELL NYUS

	$199.00 


	 
	4/25/2013

	CHKCARDMACREPORT MEDIAMARCELL NYUS

	$1,950.00 


	 
	4/25/2013

	OUTGOING WIRE DEBIT

	$1,000.00 


	 
	 
	 
	 

	 
	4/24/2013

	WT FED#04034 CITIBANK N.A. NEW /FTR/BNF=Sherb and Co SRF# 0066771114972238 TRN#130424098264 RFB#

	$5,850.00 


	 
	 
	 
	 

	 
	4/19/2013

	CHECK CRD PURCHASE 04/18 PAYPAL *PRLOG 402-935-7733 TX 474165XXXXXX8427 003108619365993 ?MCC=7311

	$49.00 


	 
	 
	 
	 

	 
	4/12/2013

	WT FED#00948 WEBSTER BANK, N.A. /FTR/BNF=Matthew Cowell SRF# 0066771102397227 TRN#130412145210 RFB#

	$5,000.00 


	 
	 
	 
	 

	 
	4/8/2013

	RECUR DEBIT CRD PMT04/06 YAHOO *NEWCO4EDUC 408-916-2149 CA 474165XXXXXX8427 283096586174750 ?MCC=4816

	$9.00 


	 
	 
	 
	 

	 
	4/8/2013

	CHECK CRD PURCHASE 04/06 YAHOO *NEWCO4EDUC 408-916-2149 CA 474165XXXXXX8427 083095534337020 ?MCC=4816

	$13.94 


	 
	4/24/2013

	EDGAR FILING SERVICE

	 $  3,000.00 


	 
	 
	TOTAL IN 2013

	 $25,669.94 


	 
	 
	 
	 

	 
	Mesh LLC Payable as of 4/25

	$59,376.24 


	 
	 
	 
	 

	 
	 
	110% of prior 10 day average

	0.231


	 
	 
	 
	 

	 
	 
	No. of shares to issue

	      257,040