EXHIBIT
10.1

    


    LOAN AGREEMENT AND
PROMISSORY NOTE

     

    THIS LOAN
AGREEMENT AND PROMISSORY NOTE, dated as of January 31, 2009 (the “Note”), between BLINK COUTURE,
INC., a Delaware Corporation (the "Maker"), having an address at
122 Ocean Park Blvd., Suite 307, Santa Monica, CA 90405 and Fountainhead Capital
Management Limited (the "Payee"), having an address at
Portman House, Hue Street, St. Helier, Jersey JE4 5RP.  Each of the
Maker and the Payee are referred to herein as a “Party”, and collectively as
the “Parties.”

    


    WHEREAS,
On April 30, 2008, a shareholder payable was exchanged for a convertible
promissory note with a principal balance of $8,014 due and payable on April 30,
2009; on July 31, 2008, a shareholder payable was exchanged for a convertible
promissory note with a principal balance of $14,357 due and payable on July 31,
2009 and on October 31, 2008, a shareholder payable was exchanged for a
convertible promissory note with a principal balance of $14,742.94 due and
payable on October 30, 2009 (the aforementioned notes are hereinafter
collectively referred to as the “Prior Loans”)..

    


    WHEREAS,
during the period beginning on November 1, 2008 and ending on January 31, 2009
Payee advanced additional funds to the Maker in the total amount of $14,463.00
(the “Additional Loan”) for its corporate
purposes, on the terms and conditions set forth therein;

    


    WEREAS,
the Payee may make additional advances to Maker from time to time in the future
(”Future Loans”)
and

    


    WHEREAS,
the Parties desire to evidence the amount due on account of the Prior Loans, the
Additional Loan and any Future Loans by this Loan Agreement and Promissory Note
(“Note”) which shall
accrue interest at a rate of 6% per annum.

    


    NOW
THEREFORE, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

    


    1. The
Maker, unconditionally promises to pay to the order of the Payee, the principal
sum of the Prior Loans, the Additional Loans and any Future Loans together with
accrued interest thereon from the date of issuance hereof. The Maker further
agrees to pay all costs of collection, including reasonable attorneys' fees,
incurred by the Payee or by any other holder of this Note in any action to
collect this Note, whether or not suit is brought.

    


    3. Principal
and accrued interest shall be payable on January 30, 2010. Maker shall have the
right at any time to prepay, in whole or in part, the principal and accrued
interest without penalty upon fifteen (15) days prior written notice to the
Payee.

    


    4. The
amounts due hereunder are payable without deduction or offset in lawful money of
the United States of America in immediately available funds to the Payee at its
address as set forth above, or at such other place as the holder of this Note
shall from time to time designate.


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    5. It
shall be an event of default (“Event of Default”), and the
then unpaid portion of this Note shall become immediately due and payable, at
the election of Payee, upon the occurrence of any of the following
events:

     

    (a) any
failure on the part of Maker to make any payment hereunder when due, whether by
acceleration or otherwise;

    


    (b) Maker
shall commence (or take any action for the purpose of commencing) any proceeding
under any bankruptcy, reorganization, arrangement, readjustment of debt,
moratorium or similar law or statute; or

    


    (c) a
proceeding shall be commenced against Maker under any bankruptcy,
reorganization, arrangement, readjustment of debt, moratorium or similar law or
statute and relief is ordered against Maker, or the proceeding is controverted
but is not dismissed within sixty (60) days after the commencement
thereof.

    


    6. The
principal balance of this Note and all accrued interest hereunder shall be
convertible, in whole or in part, into shares of the Maker’s common stock in the
manner described below at the option of the Payee or other holder hereof at any
time prior to maturity, upon ten (10) days advance written notice to the Maker.
The number of shares of the Maker’s common stock issuable upon such conversion
shall be determined by the Board of Directors of the Company based on what it
determines the fair market value of the Company is at the time of such
conversion. Upon conversion, this Note shall be canceled and a replacement note
on identical terms shall be promptly issued by the maker to the holder hereof to
evidence the remaining outstanding principal amount hereof as of the date of the
conversion, if applicable. In the event of a stock-split, combination, stock
dividend, recapitalization of the Maker or similar event, the conversion price
and number of shares issuable upon conversion shall be equitably adjusted to
reflect the occurrence of such event.

     

    7. No
failure on the part of the Payee or any other holder of this Note to exercise
and no delay in exercising any right, remedy or power hereunder or under any
other document or agreement executed in connection herewith shall operate as a
waiver thereof, nor shall any single or partial exercise by the Payee or any
other holder of this Note of any right, remedy or power hereunder preclude any
other or future exercise of any other right, remedy or power.

    


    8. This
Note shall be binding upon the Maker and the Maker’s successors and
assigns.

    


    9. This
Note shall be governed by and construed in accordance with the laws of the State
of New York, excluding the conflicts of laws principles thereof.

    


    10. In
the event that any one or more of the provisions of this Note shall for any
reason be held to be invalid, illegal or unenforceable, in whole or in part, or
in any respect, or in the event that any one or more of the provisions of this
Note shall operate, or would prospectively operate, to invalidate this Note,
then, and in any such event, such provision or provisions only shall be deemed
null and void and of no force or effect and shall not affect any other provision
of this Note, and the remaining provisions of this Note shall remain operative
and in full force and effect, shall be valid, legal and enforceable, and shall
in no way be affected, prejudiced or disturbed thereby.



    
      
         


      

      
         


        
          

        

      

      
         


      

    


    11. All
agreements between Maker and Payee are hereby expressly limited so that in no
event whatsoever, whether by reason of deferment in accordance with this Note or
under any agreement or by virtue of acceleration or maturity of the Note, or
otherwise, shall the amount paid or agreed to be paid to the Payee hereunder or
to compensate Payee for damages to be suffered by reason of a late payment
hereof, exceed the maximum permissible under applicable law. If enforcement of
any provision hereof at the time performance of such provision shall be due,
shall exceed the limit of validity prescribed by law, the relevant obligations
to be fulfilled shall be deemed reduced to the limit of such validity. This
provision shall never be superseded or waived and shall control every other
provision of all agreements among Maker and Payee.

    


    12. Subject
to applicable federal and state securities laws, the Payee may assign this Note
without first obtaining the consent of the Maker.

    


    13. Subject
to the applicable cure periods contained herein, time is of the essence of this
Note.

    


    14. EXCEPT
AS OTHERWISE SPECIFICALLY PROVIDED HEREIN, THE MAKER, AND ALL OTHERS THAT MAY
BECOME LIABLE FOR ALL OR ANY PART OF THE OBLIGATIONS EVIDENCED BY THIS NOTE,
HEREBY WAIVES PRESENTMENT, DEMAND, NOTICE OF NONPAYMENT, PROTEST AND ALL OTHER
DEMANDS AND NOTICES IN CONNECTION WITH THE DELIVERY, ACCEPTANCE, PERFORMANCE OR
ENFORCEMENT OF THIS NOTE, AND DOES HEREBY CONSENT TO ANY NUMBER OF RENEWALS OR
EXTENSIONS OF THE TIME OF PAYMENT HEREOF AND AGREE THAT ANY SUCH RENEWALS OR
EXTENSIONS MAY BE MADE WITHOUT NOTICE TO ANY SUCH PERSONS AND WITHOUT AFFECTING
THEIR LIABILITY HEREIN AND DO FURTHER CONSENT TO THE RELEASE OF ANY PERSON
LIABLE WITH RESPECT TO FAILURE TO GIVE SUCH NOTICE, (ALL WITHOUT AFFECTING THE
LIABILITY OF THE OTHER PERSONS, FIRMS, OR CORPORATIONS LIABLE FOR THE PAYMENT OF
THIS NOTE).

    


    15. TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE MAKER HEREBY KNOWINGLY AND
VOLUNTARILY WAIVES TRIAL BY JURY AND THE RIGHT THERETO IN ANY ACTION OR
PROCEEDING OF ANY KIND ARISING UNDER OR OUT OF OR OTHERWISE RELATED TO OR
CONNECTED WITH THIS NOTE OR ANY RELATED DOCUMENT.

    


    [Signature Page
Follows]


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    IN
WITNESS WHEREOF, each of the undersigned has duly executed this Loan Agreement
and Convertible Promissory Note on the date first above written.

    


    
      
        
          
            
              
                	
                        BLINK
      COUTURE, INC.

                      
	 
      	 
      
	
                        By:  

                      	
                        /s/ Thomas W.
      Colligan

                      
	 
      	
                        Thomas
      W. Colligan

                      
	 
      	
                        President