Exhibit 10.1 


 


SECURITIES PURCHASE AGREEMENT


 DOCUMENT SPA-12022015


 


This Securities Purchase
Agreement (this “Agreement”) is dated as of December 2, 2015, between MyECheck, Inc., a Wyoming corporation
(the “Company”) and JMJ Financial (the “Purchaser”) (referred to collectively herein as the
“Parties”).


 


WHEREAS, the Company
desires to sell and Purchaser desires to purchase a Convertible Promissory Note due, subject to the terms therein, two (2) years
from its effective date of issuance, issued by the Company to the Purchaser, in the form of Exhibit A attached hereto (the “Note”)
and a Warrant to purchase 1,833,333 shares of the Company’s common stock for a period of five (5) years from the date hereof,
issued by the Company to the Purchaser, in the form of Exhibit B attached hereto (the “Warrant,” and together
with the Note, the “Securities”) as set forth below;


  


NOW, THEREFORE, in
consideration of the mutual covenants contained in this Agreement, the Company and the Purchaser agree as follows:


 


		ARTICLE I	PURCHASE AND SALE



 


1.1           Purchase
and Sale. Upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchaser agrees
to purchase the Note, in an aggregate principal amount of $500,000, and a Warrant to purchase 1,833,333 shares of Company common
stock with an aggregate exercise price of $55,000. The Purchaser shall deliver to the Company, via wire transfer, immediately available
funds in the amount of US $100,000 (the “Purchase Price”) and the Company shall deliver to the Purchaser the
Note and the Warrant, and the Company and the Purchaser shall deliver any other documents or agreements related to this transaction.


 


1.2           Effective
Date. This Agreement will become effective only upon occurrence of the two following events: execution of this Agreement, the
Note, and the Warrant by both the Company and the Purchaser, and delivery of the first payment of the Purchase Price by the Purchaser
to the Company.


 


1.3           Additional
Payments. The Note allows the Purchaser to pay up to $350,000 of additional consideration to the Company in such amounts and
at such dates as the Purchaser and the Company may mutually agree (each, an “Additional Payment”). Within three
(3) days after Purchaser makes any Additional Payment to the Company under the Note, the Company shall execute and deliver to the
Purchaser an additional warrant in the form of the Warrant issued hereunder with an aggregate exercise amount equal to 55% of the
dollar amount of the Additional Payment made by the Purchaser, a per share Exercise Price equal to the lesser of $0.03 per share
or the closing price per share on the date of the Additional Payment (subject to adjustment as provided therein), and the number
of shares for which the warrant is exercisable equal to the aggregate exercise amount for the additional warrant divided by the
Exercise Price per share, and any such Warrant will be immediately exercisable upon the date of issuance of such Warrant. For example,
if the Purchaser makes an Additional Payment of $50,000 and the price per share of the Company’s common stock closes at $0.01
per share on the date of the Additional Payment, the Company shall execute and deliver to the Purchaser a Warrant exercisable to
purchase 2,750,000 shares with an Exercise Price per share of $0.01 and an aggregate exercise amount of $27,500.


 


		ARTICLE II	MISCELLANEOUS



 


2.1           Successors
and Assigns. This Agreement may not be assigned by the Company. The Purchaser may assign any or all of its rights under this
Agreement and agreements related to this transaction. The terms and conditions of this Agreement shall inure to the benefit of,
and be binding upon, the respective successors and permitted assigns of the parties. Nothing in this Agreement, express or implied,
is intended to confer upon any party, other than the parties hereto or their respective successors, any rights, remedies, obligations
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.


 


2.2           Reservation
of Authorized Shares. As of the effective date of this Agreement and for the remaining period during which the Note is outstanding
and the Warrant is exercisable for shares of the Company, the Company will reserve from its authorized and unissued common stock
a sufficient number of shares (at least 75,000,000 common shares) to provide for the issuance of common stock upon the full conversion
of the Note and the full exercise of the Warrant. The Company represents that upon issuance, such shares will be duly and validly
issued, fully paid and non-assessable. The Company agrees that its issuance of the Note and the Warrant constitutes full authority
to its officers, agents and transfer agents who are charged with the duty of executing and issuing shares to execute and issue
the necessary shares of common stock upon the conversion of the Note and the exercise of the Warrant. No further approval or authority
of the stockholders or the Board of Directors of the Company will be required for the issuance and sale of the Securities to be
sold by the Company as contemplated by the Agreement or for the issuance of the shares contemplated by the Note or the shares contemplated
by the Warrant.


 



    	 	1	 



     


    




 


2.3           Piggyback
Registration Rights. The Company shall include on the next registration statement (but excluding any registration statement
on Form S-8) the Company files with SEC (or on the subsequent registration statement if such registration statement is withdrawn)
all shares issuable upon conversion of the Note and all shares issuable upon exercise of the Warrant. Failure to do so will result
in liquidated damages of 10% of the outstanding principal balance of the Note, but not less than $50,000, being immediately due
and payable to the Purchaser at its election in the form of cash payment or addition to the balance of the Note.


 


2.4           Rule 144
Tacking Back and Registration Rights. Whenever the Note or Warrant or any other document related to this transaction provides
that a conversion amount, make-whole amount, penalty, fee, liquidated damage, or any other amount or shares (a “Tack Back
Amount”) tacks back to the original date of the Note, Warrant, or document for purposes of Rule 144 or otherwise, in the
event that such Tack Back Amount was registered or carried registration rights, then that Tack Back Amount shall have the same
registration status or registration rights as were in effect immediately prior to the event that gave rise to such Tack Back Amount
tacking back. For example, if the Purchaser converts a portion of the Note and receives registered shares and the Purchaser later
rescinds that conversion, the conversion amount would be returned to the principal balance of the Note and upon any future conversion
of the Note the amount converted would be convertible into shares registered on that registration statement.


 


2.5           Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, without
regard to the principles of conflict of laws thereof. Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state courts of Florida or in the federal courts located in Miami-Dade
County, in the State of Florida. Both parties and the individuals signing this Agreement agree to submit to the jurisdiction of
such courts.


 


2.6           Delivery
of Process by Purchaser to Company. In the event of any action or proceeding by the Purchaser against the Company, and only
by Purchaser against the Company, service of copies of summons and/or complaint and/or any other process which may be served in
any such action or proceeding may be made by Purchaser via U.S. Mail, overnight delivery service such as FedEx or UPS, email, fax,
or process server, or by mailing or otherwise delivering a copy of such process to the Company at its last known address or to
its last known attorney as set forth in its most recent SEC filing.


 


2.7           Notices.
Any notice required or permitted hereunder must be in writing and either be personally served, sent by facsimile or email transmission,
or sent by overnight courier. Notices will be deemed effectively delivered at the time of transmission if by facsimile or email,
and if by overnight courier the business day after such notice is deposited with the courier service for delivery.


 


2.8           Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Delivery of this Agreement may be effected by email.


 


2.9           Expenses.
The Company and the Purchaser shall pay all of their own costs and expenses incurred with respect to the negotiation, execution,
delivery and performance of this Agreement. In the event any attorney is employed by either party to this Agreement with respect
to legal or equitable action, arbitration or other proceeding brought by such party for the enforcement of this Agreement or because
of an alleged dispute, breach, default or misrepresentation in connection with any of the provisions of this Agreement, the prevailing
party in such proceeding will be entitled to recover from the other party reasonable attorneys’ fees and other costs and
expenses incurred, in addition to any other relief to which the prevailing party may be entitled.


 



    	 	2	 



     


    




 


2.10           No Public
Announcement. Except as required by securities law, no public announcement may be made regarding this Agreement, the Note,
the Warrant, or the Purchase Price without written permission by both the Company and the Purchaser.


 


2.11           Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction.


 


IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of this 2nd day of December, 2015.


  


 





	 	COMPANY:	 
	 	 	 	 
	 	MYECHECK, INC.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Edward R. Starrs	 
	 	 	Edward R. Starrs	 
	 	 	Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	PURCHASER:	 
	 	 	 	 
	 	 	 	 
	 	/s/ JMJ Financial	 
	 	JMJ Financial / Its Principal	 










 


 


[Securities Purchase Agreement Signature
Page]


 








    	 	3