Document:

<PAGE>   1
                                                                   EXHIBIT 10.11

<TABLE>
<S>                                                   <C>                                   <C>
--------------------------------------------------------------------------------------------------------------------
UNITED COMMUNITY BANK, N.A.                           LAURA N. WALKER                       Loan Number          260
2100 FM 407                                           8505 FREEPORT PKWY #141                           ------------
HIGHLAND VILLAGE, TX 75077                            IRVING, TX  75063-0000                Date             1/08/99
            LENDER'S NAME AND ADDRESS                    BORROWER'S NAME AND ADDRESS             -------------------
"You" means the Lender, its successors and assigns    "I" includes each Borrower above,     Maturity date    1/15/02
                                                           jointly and severally                          ----------
                                                                                            Loan Amount   $10,500.00
                                                                                                        ------------
                                                                                            Renewal Of             .
                                                                                            ------------------------
                                                                                            TLS/TLS
--------------------------------------------------------------------------------------------------------------------
</TABLE>

TERMS FOLLOWING A [ ] APPLY ONLY IF CHECKED

NOTE - For value received, I promise to pay you, or your order, at your address
above, the principal sum of:* * * * * * * * * * * * * * * * * * * * * * * * * *
TEN THOUSAND FIVE HUNDRED AND NO/100 Dollars $10,500 plus interest from 1/08/99
at the rate of 7.850% per year until 1/15/02.

     ADMINISTRATIVE FEE - I also agree to pay a nonrefundable fee of $________,
that will be [ ] paid in cash. [ ] paid pro rate over the loan term.

PAYMENTS - I will pay this note as follows:

          (a)  [ ] In 36 payments. The first payment will be in the amount of
                   $328.82 and will be due 2/15/99.
                   A payment of $328.82 will be due on the 15th day of each
                   Month thereafter.
                   The final payment of the entire unpaid balance of principal
                   and interest will be due 1/15/99.

          (b)  [ ] (other)
                           -----------------------------------------------------

                   ------------------------------------------------------------.

INTEREST - Interest accrues on an ACTUAL/365 basis.

POST-MATURITY INTEREST-Interest will accrue at the rate of 18.000% per year on
the principal balance of this note not paid on the date of the last scheduled
payment of principal. Interest will accrue at a rate of 18.000% per year on the
balance of this note from the date we accelerate the maturity of this note and
demand immediate payment in full.

THE PURPOSE OF THIS LOAN IS - PERSONAL.

SECURITY - You have certain rights that may affect my property as explained on
page 2. This loan [ ] is [ ] is not further secured.

          (a)  [ ] This loan is secured by CD#11099, dated ____________________.

          (b)  [ ] Security Agreement - I give you a security interest in the
                   Property described below. The rights I am giving you in this
                   Property and the obligations this agreement secures are
                   defined on page 2 of this agreement.

           CD #11099 IN THE AMOUNT OF $10,500.00 @ 4.85% DUE 1/8/2002

                               This property will be used for PERSONAL purposes.

<TABLE>
<S>                        <C>                        <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------
ANNUAL PERCENTAGE RATE         FINANCE CHARGE                 AMOUNT FINANCED                      TOTAL OF PAYMENTS
The cost of my credit      The dollar amount the            The amount of credit            The amount I will have paid when
   As a yearly rate         credit will cost me       provided to me or on my behalf.     I have made all scheduled payments.
        7.850%                    $1,337.52                      $10,500.00                            $11,837.52
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

I have the right to receive at this
    time an itemization of the
         Amount Financed.

 X  YES - I want an itemization.
---
    NO - I do not want an itemization.
---

"e" means an estimate

$      Filing Fees
 -----
$      Nonfiling Insurance
 -----

My Payment Schedule will be:
--------------------------------------------------------------------------------
Number of Payments   Amount of Payments            When Payments Are Due
--------------------------------------------------------------------------------
        36                $328.82          Monthly beginning         2/15/99
--------------------------------------------------------------------------------
                          $
--------------------------------------------------------------------------------
                          $
--------------------------------------------------------------------------------
                          $
--------------------------------------------------------------------------------

Security - I am giving a security interest in:
  [ ] (brief description of property) CD #11099
  [ ] the goods or property being purchased.
  [ ] collateral securing other loans with you may also secure this loan.
  [ ] deposit accounts end other rights to the payment of money from you.
  [ ] REQUIRED DEPOSIT - The annual percentage rate does not take into account
      my required deposit.

Prepayment - if I pay off this note early, I will not have to pay a penalty.

  [ ] If I pay off this note early, I will not be entitled to a refund of part
      of the Administrative Fee.

I can see my contract documents for any additional information about nonpayment,
default, any required repayment before the scheduled date, and prepayment
refunds and penalties.
--------------------------------------------------------------------------------

CREDIT INSURANCE - Credit life insurance and credit disability insurance are not
required to obtain credit, and will not be provided unless I sign and agree to
pay the additional costs.

--------------------------------------------------------------------------------
 Type                             Premium                          Term
--------------------------------------------------------------------------------
 Credit Life
--------------------------------------------------------------------------------
 Credit Disability
--------------------------------------------------------------------------------
 Joint Credit Life
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
[ ] do  [ ] do not want credit life insurance.
[ ] do  [ ] do not want credit disability insurance.
[ ] do  [ ] do not want joint credit life insurance.
[ ] do  [ ] do not want _______________________________________ insurance.

x                                                        DOB                   .
--------------------------------------------------------------------------------
x                                                        DOB                   .
--------------------------------------------------------------------------------

PROPERTY INSURANCE - [ ] is REQUIRED. [ ] is NOT REQUIRED. I have the option of
furnishing any insurance you require in connection with this transaction either
through existing policies I own or control, or, by procuring and furnishing
insurance coverages equivalent to what you require from any insurance company
authorized to do business in Texas. If I get the insurance from or through you I
will pay $_______________ for _________________________ of coverage.

[ ] The premium quoted above for ______________________________________________
insurance is not fixed or approved by the State Board of Insurance.

                         ITEMIZATION OF AMOUNT FINANCED

         AMOUNT GIVEN TO ME DIRECTLY         $10,500.00
                                              ---------
    AMOUNT PAID ON MY (LOAN) ACCOUNT         $
                                              ---------
___________________________________.         $
                                              ---------
AMOUNTS PAID TO OTHERS ON MY BEHALF:
              To Insurance Companies         $
                                              ---------
                 To Public Officials         $
                                              ---------
___________________________________.         $
                                              ---------
___________________________________.         $
                                              ---------
___________________________________.         $
   (less) PREPAID FINANCE CHARGES(S)         $
                                              ---------
                     Amount Financed         $
                                              ---------
(Add all items financed and subtract
prepaid finance charges.)
--------------------------------------------------------------------------------

SIGNATURES - I HAVE AGREED TO THE TERMS SET OUT ON PAGE 1 AND PAGE 2 OF THIS
AGREEMENT. I HAVE RECEIVED A COPY OF THIS DOCUMENT ON TODAY'S DATE.

                COSIGNERS - SEE NOTICE ON PAGE 2 BEFORE SIGNING.

Signature /s/ LAURA N. WALKER
          ----------------------------------------------------------------------
                 LAURA N. WALKER                            ###-##-####
Signature
          ----------------------------------------------------------------------
             /s/ TERRY LYNN SEWELL
--------------------------------------------------------------------------------
              TERRY LYNN SEWELL     (Optional)
Signed                                                                For Lender
       --------------------------------------------------------------
Title
      --------------------------------------------------------------------------

<PAGE>   2
                           ADDITIONAL TERMS OF THE ...

DEFINITIONS - "I," "me" or "my" means each borrower who signs this note and each
other person or legal entity (including guarantors, endorsers, and sureties)
who agree to pay this note (together referred to as "us"). "You" or "your" means
the Lender and its successors and assigns.

APPLICABLE LAW - This note and any agreement securing this note will be governed
by the laws of the State of Texas. The federal Truth-in-Lending disclosures on
page 1 are, other than the Amount Financed, disclosures only and are not
intended to be terms of this agreement. If property securing the payment of this
note is located in another state, the security agreement may, in some
circumstances, be governed by the law of the state.

     To the extent permitted by law, the terms of this note and security
agreement may vary applicable law. If any provision of applicable law may not be
varied by agreement, any term of this note and security agreement that does not
comply with that law will not be affective. If any part of this note or security
agreement cannot be enforced, this fact will not affect the rest of the terms of
the note or security agreement.

     In particular, this section means (among other things) that I do not agree
or intent to pay, and you do not agree or intend to charge or collect, any
amount in the nature of interest or fee for this loan, which would in any way or
event (including demand, prepayment, or acceleration) cause you to charge or
collect more for this loan than the maximum you would be permitted by state or
federal law (as applicable). Any such excess interest or unauthorized fee shall,
instead of anything stated to the contrary, be applied first to reduce the
principal balance, and when the principal has been paid in full, refunded to me.

     Any charge to this note or any agreement securing this note must be in
writing and signed by you and me.

PAYMENTS - Each payment I make on this loan will be applied first to any charges
I owe other than principal and interest, then to Interest that is due, and
finally to principal that is due. No late charge will be assessed on any payment
when only delinquency is due to late fees assessed on earlier payments and the
payment is otherwise a full payment. The actual amount of my final payment will
depend on my payment record.

PREPAYMENT - I may prepay this loan in whole or in part at any time without
penalty. If I prepay in part, I must still make each later payment in the
original amount as it becomes due until this note is paid in full.

ACCRUAL METHOD - The amount of interest that I will pay on this loan will be
calculated using the interest rate and accrual method stated on page 1. For
interest calculation, the accrual method will determine the number of days in a
year. If no accrual method is stated, then you may used any reasonable accrual
method for calculating interest.

DEFAULT - I further agree that the following are additional terms and conditions
of this loan agreement and that if one or more of the following occur I will be
in default.

(a)  I fail to make a payment in full when due;

(b)  I die, terminate or dissolve my business, or am involved in any insolvency
     proceedings brought by or against me;

(c)  I fail to keep collateral securing this note insured, if required;

(d)  Any Property securing this note is substantially damaged, destroyed, or
     stolen;

(e)  I use any Property in violation of any rule, regulation or government
     order;

(f)  Any Property securing this note is confiscated by any government
     authorities;

(g)  A judgment or tax lien is filed against me or an attachment or garnishment
     is issued against any of my property or rights, specifically including the
     commencement of any action, suit or proceeding to seize any of my funds on
     deposit with you;

(h)  I make any written statement or provide any financial information that is
     untrue or inaccurate at the time it is given;

(i)  I permit any other lien holder to gain priority over the lien or security
     interest which you have in the Property, if any, securing this note;

(j)  Acceleration of the maturity of any other debt I have with any of my other
     creditors;

(k)  A judgment against me becomes final; or,

(l)  I fail to keep any promise I have made in connection with this note.

     If any of us are in default on this note or any security agreement, you may
exercise your remedies against any or all of us.

REMEDIES - If I am in default on this loan or any agreement securing this loan,
you may:

(a)  Make unpaid principal, earned interest and all other agreed charges I owe
     you under this loan immediately due;

(b)  Use the right of set-off as explained below;

(c)  Demand more security or new parties obligated to pay this loan (or both) in
     return for not using any other remedy;

(d)  Made a claim for any and all insurance benefits or refunds that may be
     available on my default; and

(e)  Use any remedy you have under state or federal law.

     By choosing any one or more of these remedies you do not give up your right
to use any other remedy later. By deciding not to use any remedy should I be in
default, you do not give up your right to consider the event a default if it
happens again.

COSTS OF COLLECTION AND ATTORNEYS' FEES - I agree to pay you reasonable amounts
you actually incur in collecting this debt for attorneys' fees (if assessed by a
court) and court costs.

SET-OFF - I agree that you may set off any amount due and payable under this
note against any right I have to receive money from you.

     "Right to receive money from you" means:

(a)  Any deposit account balance I have with you;

(b)  Any money owed to me on an item presented to you or in your possession for
     collection or exchange; and

(c)  Any repurchase agreement or other nondeposit obligation.

     "Any amount due and payable under this note" means the total amount of
which you are entitled to demand payment under the terms of this note at the
time you set off. This total includes any balance the due date for which you
properly accelerate under this note.

     If my right to receive money from you is also owned by someone who as not
agreed to pay this note, your right of set off will apply to my interest in the
obligation and to any other amounts I could withdraw on my sole request or
endorsement. Your right of set off does not apply to any account or other
obligation where my rights arise only in a representative capacity. It also does
not apply to any individual Retirement Account or other tax-deferred retirement
account.

     You will not be liable for the dishonor of any check when the dishonor
occurs because you set off this debt against any of my accounts. I agree to hold
you harmless from any such claims arising as a result of your exercise of your
right of set-off.

OTHER SECURITY - Any present or future agreement securing any other debt I owe
you also will secure the payment of this loan. Property securing another debt
will not secure this loan if such property is my principal dwelling and you fail
to provide any required notice of right of rescission. Property securing another
debt will not secure this loan to the extent such property is in household
goods. Also, if the property securing another debt is real estate, it will not
secure this loan.

OBLIGATIONS INDEPENDENT - I understand that my obligation to pay this loan is
independent of the obligation of any other person who has also agreed to pay it.
You may, without notice, release me or any of us, give up any right you may have
against any of us, extend new credit to any of us, or renew or change this note
one or more times and for any term, and I will still be obligated to pay this
loan. You may, without notice, fail to perfect your security interest in,
impair, or release any security and I will still be obligated to pay this loan.

WAIVER - I waive (to the extent permitted by law) demand, presentment, protest,
notice of dishonor, notice of protest, notice of intent to accelerate and notice
of acceleration.

PRIVACY - I agree that from time to time you may receive credit information
about me from others, including other lenders and credit reporting agencies. I
agree that you may furnish on a regular basis credit and experience regarding
my loan to others seeking such information. To the extent permitted by law, I
agree that you will not be liable for any claim arising from the use of
information provided to you by others or for providing such information to
others.

FINANCIAL STATEMENTS - I will give you any financial statements or information
that you feel is necessary. All financial statements and information I give you
will be correct and complete.

PURCHASE MONEY LOAN - If this is a purchase money loan, you may include the name
of the seller on the check or draft for this loan.

RETURNED CHECKS - If this loan is made under Chapter 3A of the Texas Credit
code, I agree to pay a $25.00 charge for each check which (1) I give in payment
on this note and (2) is dishonored and returned to you. Any charges I incur
under this provision may be added to the unpaid balance of the note, but no
interest may restricted any noncontractual right you may have to impose this
charge on loans not subject to this law.

DEFERRED PAYMENTS - You and I may agree to defer one or more payments required
by the terms of this note. If we do so, you may collect additional interest for
the deferment period as provided by law.

<PAGE>   3

                   ADDITIONAL TERMS OF THE SECURITY AGREEMENT

SECURED OBLIGATIONS - this security agreement secures this loan (including all
extensions, renewals, refinancings, and modifications) and any other debt I have
with you now or later. Property described in this security agreement will not
secure other such debts if you fail to give any required notice of the right of
rescission with respect to the Property. Also, the security agreement will not
secure other debts if this security interest is in household goods and the other
debt is a consumer loan. This security agreement will not terminate when I am no
longer indebted to you under the terms of the note portion of this document, or
any other obligation secured by this agreement.

     For the sole purpose of determining the extent of a purchase money security
interest arising under this security agreement:

(a)  Payments on any nonpurchase money loan also secured by this agreement will
     not be deemed to apply to the purchase money loan; and

(b)  Payments on the purchase money loan will be deemed to apply first to the
     nonpurchase money portion of the loan, in any, and then to the purchase
     money obligations in the order in which the items were acquired.

     No security interest will be terminated by application of this formula.
"Purchase money loan" means any loan the proceeds of which, in whole or in part,
are used to acquire any property securing the loan and all extensions, renewals,
consolidations and refinancings of such loan.

PROPERTY - The word "Property," as used here, includes all property that is
listed in the security agreement on page 1. If a general description is used,
the word means all benefits that arise from the described Property (including
all proceeds, insurance benefits, payments from others, Interest, dividends,
stock splits an voting rights). It also means property that now or later is
attached to, is a part of, or results from the Property. Property does not mean
consumer goods that are acquired later that are not instilled in or affixed to
other Property if I do not obtain rights in them within 10 days after you and I
enter into this loan agreement.

OWNERSHIP AND DUTIES TOWARD PROPERTY - Unless a co-owner(s) of the Property
signed a third party agreement, I represent that I own all the Property. I will
defend the Property against any other claim. I agree to do whatever you require
to perfect your interest and keep your priority. I will not do anything to harm
your position.

     I will keep the Property in my possession (except if pledged and deliver to
you). I will keep it in good repair and use it only for its intended purposes. I
will keep it at my address unless we agree otherwise in writing.

     I will not try to sell or transfer the Property, or permit the Property to
become attached to any real estate, without your written consent. I will pay all
taxes and charges on the Property as they become due. I will inform you of any
loss or damage to the Property. You have the right of reasonable access in order
to inspect the Property.

INSURANCE - If required, I agree to buy insurance on the Property against the
risks and for the amounts you require. I will name you as loss payee on any such
policy. You may require added security on this loan if you agree that insurance
proceeds may be used to repair or replace the Property. I agree that if the
insurance proceeds do not cover the amount I still owe you, I will pay the
difference. If I buy the required insurance (rather than furnishing it through
existing policies that I own or control) I will buy it from a company that is
authorized to do business in Texas. I will keep the insurance until all debts
secured by this agreement are paid.

DEFAULT AND REMEDIES - If I am in default, in addition to the remedies listed in
the note portion of this document, you may (after giving notice and waiting a
period of time, if required by law):

(a)  Pay taxes or purchase any required insurance if I fail to do these things
     (but you are not required to do so). You may add the amount you pay to this
     loan and accrue interest on that amount at the interest rate disclosed on
     page 1 until paid in full;

(b)  Require me to gather the Property and any related records and make it
     available to you in a reasonable fashion;

(c)  Take immediate possession of the Property, but in doing so you may not
     breach the peace or unlawfully enter onto my premises. You may sell, lease
     or dispose of the Property as provided by law. You may apply what you
     receive from the sale of the Property to amounts you actually expend for
     the repossession, storing, preparing for sale and selling the Property, and
     then what I owe you, you may take me to court to recover the difference (to
     the extent permitted by law); and

(d)  Keep the Property to satisfy the debt (when provided by law).

     I agree that when you must give notice tome of your intended sale or
disposition of the Property, to the extent permitted by law, the notice is
reasonable if it is sent to me at my last known address by first class mail 10
days before the intended sale or disposition. My current address is on page 1, I
agree to inform you when allowed by law.

                             THIRD PARTY AGREEMENT

     For the purposes of the provisions within this enclosure, "I," "me" or "my"
means the person signing below and "you" means the Lender identified on page 1.

     I agree to give you a security interest in the Property that is described
on page 1. I agree to the terms of this note and security agreement but I am in
no way personally liable for payment of the debt. This means that if the
Borrower defaults, my interest in the Property may be used to satisfy the
Borrower's debt. I agree that you may, without releasing me or the Property from
the Third Party Agreement and without notice or demand upon me, extend new
credit to any Borrower, or renew or change this note or security agreement one
or more times and for any term, or fail to perfect your security interest in,
impair or release any security (including guarantees) for the obligations of any
Borrower.

     I HAVE RECEIVED A COMPLETED COPY OF THIS NOTE AND SECURITY AGREEMENT.

NAME LAURA WALKER
    ----------------------------------------------------------------------------

X   /s/ LAURA WALKER
 -------------------------------------------------------------------------------

                            NOTICE TO THE COSIGNER

     YOU (THE COSIGNER) ARE BEING ASKED TO GUARANTEE THIS DEBT. THINK CAREFULLY
BEFORE YOU DO. IF THE BORROWER DOESN'T PAY THE DEBT, YOU WILL HAVE TO. BE SURE
YOU CAN AFFORD TO PAY IF YOU HAVE TO, AND THAT YOU WANT TO ACCEPT THIS
RESPONSIBILITY.

     YOU MAY HAVE TO PAY UP TO THE FULL AMOUNT OF THE DEBT IF THE BORROWER DOES
NOT PAY. YOU ALSO MAY HAVE TO PAY LATE FEES OR COLLECTION COSTS, WHICH INCREASES
THIS AMOUNT.

     THE CREDITOR CAN COLLECT THIS DEBT FROM YOU WITHOUT FIRST TRYING TO COLLECT
FROM THE BORROWER. THE CREDITOR CAN USE THE SAME COLLECTION METHODS AGAINST YOU
THAT CAN BE USED AGAINST THE BORROWER, SUCH AS SUING YOU, ETC. IF THIS DEBT IS
EVER IN DEFAULT, THAT FACT MAY BECOME PART OF YOUR CREDIT RECORD.

     THIS NOTICE IS NOT THE CONTRACT THAT MAKES YOU LIABLE FOR THE DEBT.<PAGE>   1
                                                                   EXHIBIT 10.12

                              ACQUISITION AGREEMENT
                                       AND
                               CLOSING MEMORANDUM

This Acquisition Agreement and Closing Memorandum ("Agreement") is entered into
effective January 15, 1999, by and between Basic Technologies, Inc., a Colorado
corporation ("Basic"), and Simpco, Inc., a Texas corporation ("Simpco").

Effective this date, Basic and Simpco have consummated and closed a business
combination on the following terms and under the following warranties:

1. The transactions set forth have been duly authorized by the respective boards
of directors of Basic and Simpco, and by the shareholders of Simpco.

2. The undersigned officers and representatives of the respective corporations
certify through their signatures that they have been duly authorized by their
respective boards of directors to execute the agreement on behalf of their
respective corporations.

3. Basic and the undersigned representative of Basic jointly and severally
represent and warrant that all documents and information furnished to Simpco in
connection with the transactions set forth herein are true and accurate to the
best of their knowledge.

4. Simpco and the undersigned representative of Simpco jointly and severally
represent and warrant that all documents and information furnished to Basic in
connection with the transactions set forth herein are true and accurate to the
best of their knowledge.

5. Simpco has delivered to Basic on behalf of Simpco's shareholders stock
certificates representing one hundred per cent (100%) of the issued and
outstanding shares of Simpco ("the Simpco stock"), each certificate bearing an
endorsement in blank and duly signed by the shareholder named on the face of the
certificate.

6. In exchange for the Simpco stock, Basic will cause to be issued through its
transfer agent 850,000 shares ("the Basic shares") of its authorized but
previously unissued voting common stock to the shareholders of Simpco named on
the attached Exhibit A to this Agreement, and in the respective numbers of
shares set forth on the same Exhibit A. The Basic shares will, immediately
following issuance, represent approximately thirteen per cent (13%) of the
issued and outstanding shares of the common stock of Basic.

                                       (1)

<PAGE>   2

7. Both Basic and Simpco execute this Agreement based upon reliance that this
transaction will be considered to be a tax-free reorganization to both
corporations and to the shareholders of both corporations, under Internal
Revenue Code Sections 354, 361 and 368.

In witness whereof, the undersigned have caused this Agreement to be executed
effective as of the first date above written.

Basic Technologies, Inc.

By: /s/ BRYAN L. WALKER
   -----------------------
Bryan L. Walker,
President and Chairman of the Board

Simpco, Inc.

By: /s/ ERIC SIMPSON
   -----------------------
Eric Simpson, President

                                       (2)

<PAGE>   3

                                    EXHIBIT A
                                       TO
                  ACQUISITION AGREEMENT AND CLOSING MEMORANDUM

                             NUMBER OF          NUMBER OF
                           SIMPCO SHARES      BASIC SHARES
SIMPCO SHAREHOLDER          SURRENDERED          ISSUED

Randy K. Dusek                 2,500            212,500

Simpco Trust #1                2,500            212,500

Simpco Trust #2                2,500            212,500

Simpco Trust #3                2,500            212,500

    Total                     10,000            850,000

<PAGE>   4

                                   ADDENDUM TO
                              ACQUISITION AGREEMENT
                             AND CLOSING MEMORANDUM

This Addendum to that certain Acquisition Agreement and
Closing Memorandum ("Agreement") entered into effective
January 15, 1999, by and between Basic Technologies, Inc. and
Simpco, Inc. is made effective January 15, 1999.

It is hereby agreed between the parties that paragraph 6 of the Agreement be
corrected and amended by adding the following wording to the said paragraph:

     " The parties acknowledge that the number of shares to be issued by Basic
(valued at $ 1.00 per share) and the amount of the $ 90,000.00 promissory note
to be drawn by Basic, have been determined by the mutually agreed upon net value
of the equipment owned by Simpco, Inc.,of $ 940,000.00, and that there is no
goodwill value in the corporation.

       On July 15, 2000, the equipment owned by Simpco on January 15, 1999 will
be re-valued by the same procedures used in the initial valuation. Should the
value of that equipment, taken as a whole, then be greater than $ 1,080,000.00,
the shareholders of Simpco currently transferring shares to Basic, or their
assigns, will be entitled to receive additional shares of Basic. The formula for
determining the number of shares to be issued is:

     a. The Basic shares will be issued at a valuation equal to the greater of
        the traded market price of the stock on July 15, 2000, or $ 1.00 per
        share; and

     b. The dollar equivalent to be received will be fifty per cent (50%) of the
        excess of the equipment value over $ 1,080,000.00.

       Basic will cause its transfer agent to issue any
qualified shares as soon as possible."

In witness whereof, the undersigned have caused this Addendum to be executed
effective as of the first date above written.

Basic Technologies, Inc             Simpco, Inc.

By: /s/ BRYAN WALKER                By: /s/ ERIC SIMPSON
Bryan Walker                        Eric Simpson
President and Chairman              President
   of the Board

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