Document:

Exhibit 10.9

  

THESE SECURITIES HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER SAID ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER SAID
ACT.

 

PROMISSORY NOTE

 

	U.S. $54,123.64	January 23, 2015

 

FOR VALUE RECEIVED, Penny
Auction Solutions., a Nevada corporation (the “Maker”), hereby promises to pay to Indeglia & Carney, a
professional corporation, or its successors and assigns (the “Payee”), at its address at 11900 W. Olympic Blvd.,
Suite 770, Los Angeles, CA 90064, or to such other address as Payee shall provide in writing to the Maker for such purpose, a
principal sum of Fifty Four Thousand One Hundred Twenty Three and 64/100 Dollars (U.S. $54,123.64). The entire principal amount
hereunder shall be due and payable in full on July 23, 2015 (the “Maturity Date”), or on such earlier date
as such principal amount may earlier become due and payable pursuant to the terms hereof.

 

1.        Interest
Rate. Interest shall accrue on the unpaid principal amount of this Promissory Note (the “Note”) at the
rate of ten percent (10%) per annum from the date of the first making of the loan, January 23, 2015 for such principal amount
until such unpaid principal amount is paid in full in accordance with the terms hereof. Interest hereunder shall be paid on the
Maturity Date or on such earlier date as the principal amount under this Note becomes due and payable and shall be computed on
the basis of a 360-day year for the actual number of days elapsed.

 

2.        Mandatory Prepayment
Upon Triggering Events. Upon the occurrence of a Triggering Event (as defined below), the Payee shall have the right (in addition
to all other rights it may have hereunder under this Note or under applicable law), exercisable at the sole option of the Payee,
to require the Maker to prepay all or a portion of the outstanding principal amount of this Note plus all accrued and unpaid interest
thereon. Such prepayment shall be due and payable within five (5) Business Days° of the date on which the notice for the payment
therefor is provided by the Payee.

 

A “Triggering Event”
means any one or more of the following events (whatever the reason and whether it shall be voluntary or involuntary, or effected
by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule, or regulation of any administrative
or governmental body):

 

(i)        any default in the
payment of the principal of interest on or other payments owing in respect of this Note, free of any claim of subordination, as
and when the same shall become due and payable (whether on the Maturity Date, by acceleration or otherwise);

 

    	-Exhibit B-

    	 

    

 

(ii)        the Maker or any
of its subsidiaries shall commence or there shall be commenced against the Maker or any such subsidiary a case under any applicable
bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Maker commences any other proceeding
under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar
law of any jurisdiction whether now or hereafter in effect relating to the Maker or any subsidiary thereof or there is commenced
against the Maker or any subsidiary thereof any such bankruptcy, insolvency or other proceeding which remains undismissed for a
period of 60 days; or the Maker or any subsidiary thereof is adjudicated insolvent or bankrupt; or any order of relief or other
order approving any such case or proceeding is entered; or the Maker or any subsidiary thereof suffers any appointment of any custodian
or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of 60 days; or
the Maker or any subsidiary thereof shall by any act or failure to act indicate its consent to, approval of or acquiescence in
any of the foregoing; or any corporate or other action is taken by the Maker or any subsidiary thereof for the purpose of effecting
any of the foregoing; or

 

(iii)       the Maker shall
fail to observe or perform any other covenant, agreement or warranty contained in, or otherwise commit any breach of (ii) this
Note or (ii) the Purchase Agreement, and such failure or breach shall not, if subject to the possibility of a cure by the Maker,
have been remedied within ten (10) days after the date on which notice of such failure or breach shall have been given to Maker.

 

3.        No Waiver of
Payee’s Rights, etc. All payments of principal and interest shall be made without setoff, deduction, or counterclaim.
No delay or failure on the part of the Payee in exercising any of its options, powers or rights, nor any partial or single exercise
of its options, powers or rights shall constitute a waiver thereof or of any other option, power or right, and no waiver on the
part of the Payee of any of its options, powers or rights shall constitute a waiver of any other option, power or right. The Maker
hereby waives presentment of payment, protest, and notices or demands in connection with the delivery, acceptance, performance,
default or endorsement of this Note. Acceptance by the Payee of less than the full amount due and payable hereunder shall in no
way limit the right of the Payee to require full payment of all sums due and payable hereunder in accordance with the terms hereof.

 

4.        Modifications.
No term or provision contained herein may be modified, amended or waived except by written agreement or consent signed by the party
to be bound thereby.

 

5.        Cumulative Rights
and Remedies; Usury. The rights and remedies of the Payee expressed herein are cumulative and not exclusive of any rights and
remedies otherwise available. If it shall be found that any interest outstanding hereunder shall violate applicable laws governing
usury, the applicable rate of interest outstanding hereunder shall be reduced to the maximum permitted rate of interest under such
law.

 

6.        Collection Expenses.
If this obligation is placed in the hands of an attorney for collection after default, and provided the Payee prevails on the merits
in respect to its claim of default, the Maker shall pay (and shall indemnify and hold harmless the Payee from and against), all
reasonable attorneys’ fees and expenses incurred by the Payee in pursuing collection of this Note.

 

7.        Successors and
Assigns. This Note shall be binding upon the Maker and its successors and shall inure to the benefit of the Payee and its successors
and assigns. The term “Payee” as used herein, shall also include any endorsee, assignee or other holder of this Note.

 

    	-Exhibit B-

    	 

    

 

8.        Lost or
Stolen Promissory Note. If this Note is lost, stolen, mutilated or otherwise destroyed, the Maker shall execute and
deliver to the Payee a new promissory note containing the same terms, and in the same form, as this Note. In such event, the
Maker may require the Payee to deliver to the Maker an affidavit of lost instrument and customary indemnity in respect
thereof as a condition to the delivery of any such new promissory note.

 

9.        Governing Law.
This Note shall be governed by and construed and enforced in accordance with the internal laws of the State of California without
regard to the principles of conflicts of law thereof. Each party hereby irrevocably submits to the exclusive jurisdiction of the
state and federal courts sitting in either the county of Los Angeles, State of California, for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way
any right to serve process in any manner permitted by law.

 

10.      Consent to
Jurisdiction. Each of the Maker and the Payee hereby waives, and agrees not to assert in any such suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction in California of such court, that the suit, action or proceeding
is brought in an inconvenient forum, or that the venue of the suit, action, or proceeding is improper. Nothing in this Section
shall affect or limit any right to serve process in any other manner permitted by law.

 

11.      Definitions.
For the purposes hereof, the following terms shall have the following meanings:

 

“Business Day”
means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions in the
State of Nevada or State of California are authorized or required by law or other government action to close.

 

“Person”
means a corporation, an association, a partnership, a limited liability company, an organization, a business, an individual, a
government or political subdivision thereof or a governmental agency.

 

“Purchase Agreement”
means that certain Securities Purchase Agreement dated as of January 23, 2015 by and between Maker and Payee.

 

IN WITNESS WHEREOF, the
Maker has caused this Convertible Promissory Note to be duly executed and delivered as of the date first set forth above.

 

	 	Penny Auction Solutions, Inc.
	 	 
	 	By:	
	 	Name:  Michael C. Holt 
	 	Title:  President

 

    	-Exhibit B-Exhibit 10.10 

 

PENNY AUCTION SOLUTIONS, INC. 

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (“Agreement”) is made as of January 23, 2015, but is only effective as of the date of acceptance of
the “Purchaser Signature Page” by and between Penny Auction Solutions, Inc., a Nevada corporation (the “Company”)
and Indeglia & Carney, a professional corporation (the “Purchaser”).

 

R E C I T A L S

 

A.          The
Purchaser has previously provided legal services to the Company in the amount of $54,123.64, which amount remains unpaid.

 

B.           In
order to compensate Purchaser for such aforesaid unpaid legal services, the Company is offering a 10% promissory note (the “Note”)
in the aggregate principal amount of $54,123.64, on the terms and subject to the conditions set forth herein.

 

AGREEMENT

 

It is agreed as follows:

 

1.           CONSIDERATION.
In reliance upon the representations and warranties of the Company and the Purchaser contained herein and subject to the terms
and conditions set forth herein, the parties agree as follows:

 

1.1         Purchase
and Sale of Note. At Closing, the Purchaser shall purchase, and the Company shall sell and issue to the Purchaser, the Note
for the purchase price of $ 54,123.64 (the “Purchase Price”).

 

2.           CLOSING.

 

2.1         Date
and Time. The closing of the sale of the Note contemplated by this Agreement (the “Closing”) shall take
place at the offices of the Company concurrently herewith.

 

2.2         Deliveries
by Purchaser. Purchaser shall deliver the following on or before the Closing:

 

2.2.1      a
completed and executed Purchaser Signature Page; and

 

2.2.2      an
invoice of Purchaser showing a credit to the Company in the amount of the Purchase Price.

 

2.3         Deliveries
by Company. The Company shall deliver the following at Closing:

 

2.3.1      a
completed and executed copy of this Agreement; and

 

    	-1-

    	 

    

 

2.3.2      a
executed copy of a Note, in definitive form and registered in the name of Purchaser against delivery of the items set forth in
Section 2.2 above.

 

3.           REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. 

 

As a material inducement
to the Purchaser to enter into this Agreement and to purchase the Note, the Company represents and warrants that the following
statements are true and correct in all material respects as of the date hereof and will be true and correct in all material respects
at Closing, except as expressly qualified or modified herein.

 

3.1         Organization
and Good Standing. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the
State of Nevada and has full corporate power and authority to enter into and perform its obligations under this Agreement, and
to own its properties and to carry on its business as presently conducted and as proposed to be conducted.

 

3.2         Validity
of Transactions. This Agreement, and each document executed and delivered by the Company in connection with the transactions
contemplated by this Agreement, including this Agreement, have been duly authorized, executed, and delivered by the Company and
is each the valid and legally binding obligation of the Company, enforceable in accordance with its terms, except as limited by
applicable bankruptcy, insolvency, reorganization, and moratorium laws and other laws affecting enforcement of creditor’s
rights generally and by general principles of equity.

 

3.3         Valid
Issuance of Note. The Note has been duly and validly authorized. The Note is, validly issued, fully paid, and nonassessable.
The Securities, upon issuance, are, or will be, free and clear of any security interests, liens, claims, restrictions, adverse
claims, or other encumbrances, other than restrictions upon transfer under federal and state securities laws.

 

3.4         No
Violation. The execution, delivery, and performance of this Agreement has been duly authorized by the Company’s Board
of Directors and will not violate any law or any order of any court or government agency applicable to the Company, as the case
may be, or the Articles of Incorporation or Bylaws of the Company.

 

3.5         Financial
Statements.

 

3.5.1      The
Company has provided Purchaser with copies of its unaudited annual financial statements for the year ended August 31, 2013
and 2012 (the “Financial Statements”). The Financial Statements are true and accurate, in accordance with
the books and records of the Company. Except as disclosed therein, the Financial Statements (i) are in accordance with the
books and records of the Company and will be prepared in conformity with generally accepted accounting
principles (“GAAP”) consistently applied for all periods, and (ii) fairly present the financial position
of the Company as of the respective dates thereof, and the results of operations, and changes in shareholders’ equity
and changes in cash flow for the periods then ended, all in accordance with GAAP consistently applied for all periods.

 

    	-2-

    	 

    

 

3.5.2      Except
as set forth on the Financial Statements, the Company has no debt, liability or obligations of any nature, whether accrued, absolute,
contingent, or otherwise, whether due or to become due and whether or not the amount hereof is readily ascertainable, that will
not be reflected as a liability in the Financial Statements or except for liabilities incurred by the Company in the ordinary course
of business, consistent with past practices which are not otherwise prohibited by, or in violation of, or which will not result
in a breach of, the representations, warranties, and covenants of the Company contained in this Agreement. There will be no material
loss contingencies (as such term is used in Statement of Financial Accounting Standards No. 5 (“FAS No. 5”)
issued by the Financial Accounting Standards Board (the “FASB”) which will not be adequately provided for in
the Financial Statements as required by FAS No. 5.

 

3.5.3      The
Company does not have any material liabilities, obligations, or claims of any kind whatsoever which are required to be set forth
in financial statements prepared in accordance with GAAP, whether secured or unsecured, accrued or unaccrued, fixed or contingent,
matured or unmatured, direct or indirect, contingent or otherwise and whether due or to become due (referred to herein individually
as a “Liability” and collectively as “Liabilities”), other than (a) Liabilities that are
reserved for or disclosed in the Financial Statements, (b) Liabilities incurred by the Company in the ordinary course of business
after the date of the Financial Statements (none of which results from, arises out of, relates to, is in the nature of, or was
caused by any breach of contract, breach of warranty, tort, infringement or violation of law), or (c) Liabilities for contracts.

 

3.5.4      Since
the date of the Financial Statements, there has not been any (a) material adverse change in the business, operations, properties,
condition (financial or otherwise) of the Company, (b) damage, destruction or loss, whether covered by insurance or not, materially
and adversely affecting the business, properties or condition (financial or otherwise) of the Company, taken as a whole, or (c)
change by the Company in accounting methods or principles used for financial reporting purposes, except as required by a change
in generally accepted accounting principles and concurred with by the Company’s independent certified public accountants.

 

3.6         Securities
Law Compliance. Assuming the accuracy of the representations and warranties of Purchaser set forth in Section 4 of this Agreement,
the offer, issue, sale and delivery of the Note will constitute an exempted transaction under the Securities Act of 1933, as amended
(the “1933 Act”), and registration of the Note under the 1933 Act is not required. The Company shall make such
filings as may be necessary to comply with the Federal securities laws, which filings will be made in a timely manner

 

3.7         Issuer
Status. The Company is not currently, nor has it been at any time previously, a “shell” corporation, as defined
under Section 144(i)(1)(i) of the1933 Act.

 

4.           REPRESENTATIONS
AND WARRANTIES OF PURCHASER. 

 

Purchaser hereby represents,
warrants, and covenants with the Company as follows:

 

4.1         Legal
Power. Each Purchaser has the requisite individual, corporate, partnership, limited liability company, trust, or fiduciary
power, as appropriate, and is authorized, if such Purchaser is a corporation, partnership, limited liability company, or trust,
to enter into this Agreement, to purchase the Units hereunder, and to carry out and perform its obligations under the terms of
this Agreement.

 

    	-3-

    	 

    

 

4.2         Due
Execution. This Agreement has been duly authorized, if such Purchaser is a corporation, partnership, limited liability company,
trust or fiduciary, executed and delivered by such Purchaser, and, upon due execution and delivery by the Company, this Agreement
will be a valid and binding agreement of Purchaser.

 

4.3         Access
to Information. Purchaser represents that such Purchaser has been given full and complete access to the Company for the purpose
of obtaining such information as such Purchaser or its qualified representative has reasonably requested in connection with the
decision to purchase the Note. Purchaser represents that it has received and reviewed copies of the Financial Statements. Purchaser
represents that it has been afforded the opportunity to ask questions of the officers of the Company regarding its business prospects
and the Note, all as Purchaser or Purchaser’s qualified representative have found necessary to make an informed investment
decision to purchase the Note.

 

4.4         Restricted
Securities.

 

4.4.1      Purchaser
has been advised that the Note has not been registered under the 1933 Act or any other applicable securities laws and that Note
is being offered and sold pursuant to Section 4(2) of the 1933 Act and/or Rule 506 of Regulation D thereunder, and that the Company’s
reliance upon Section 4(2) and/or Rule 506 of Regulation D is predicated in part on Purchaser representations as contained herein.
Purchaser acknowledges that the Note will be issued as “restricted securities” as defined by Rule 144 promulgated under
the 1933 Act (“Rule 144”). The Note may not be resold in the absence of an effective registration thereof under
the 1933 Act and applicable state securities laws unless, in the opinion of the Company’s counsel, an applicable exemption
from registration is available.

 

4.4.2      Purchaser
represents that it is acquiring the Note for Purchaser’s own account, and not as nominee or agent, for investment purposes
only and not with a view to, or for sale in connection with, a distribution, as that term is used in Section 2(11) of the 1933
Act, in a manner which would require registration under the 1933 Act or any state securities laws.

 

4.4.3      Purchaser
understands and acknowledges that the Note when issued, may bear the following legend:

 

THE SECURITIES EVIDENCED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES HAVE
BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD OR TRANSFERRED FOR VALUE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION THEREOF UNDER
THE SECURITIES ACT OF 1933 AND/OR THE SECURITIES ACT OF ANY STATE HAVING JURISDICTION OR AN OPINION OF COUNSEL ACCEPTABLE TO THE
CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR ACTS.

 

    	-4-

    	 

    

 

4.4.4      Purchaser
acknowledges that an investment in the Note is not liquid and the Note is transferable only under limited conditions. Purchaser
acknowledges that such securities must be held indefinitely unless they are subsequently registered under the 1933 Act or an exemption
from such registration is available. Purchaser is aware of the provisions of Rule 144, which permits limited resale of restricted
securities subject to the satisfaction of certain conditions and that such Rule is not now available and, in the future, may not
become available for resale of the Note.

 

4.4.5      Purchaser
is an “accredited investor” as defined under Rule 501 under the 1933 Act. The representations made by Purchaser on
the Purchaser Signature Page are true and correct.

 

4.5         Purchaser
Sophistication and Ability to Bear Risk of Loss. Purchaser acknowledges that it is able to protect its interests in connection
with the acquisition of the Note and can bear the economic risk of investment in such securities without producing a material adverse
change in such Purchaser’s financial condition. Purchaser, either alone or with such Purchaser’s representative(s),
otherwise has such knowledge and experience in financial or business matters that such Purchaser is capable of evaluating the merits
and risks of the investment in the Note.

 

4.6         Preexisting
Relationship. Purchaser has a preexisting personal or business relationship with the Company, one or more of its officers,
directors, or controlling persons.

 

4.7         Purchases
by Groups. Purchaser represents, warrants, and covenants that it is not acquiring the Note as part of a group within the meaning
of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (“1934 Act”).

 

5.           RESERVED.

 

6.           MISCELLANEOUS.

 

6.1         Indemnification.
Each Purchaser agrees to defend, indemnify and hold the Company harmless against any liability, costs or expenses arising as a
result of any dissemination of the Note by such Purchaser in violation of the 1933 Act or applicable state securities law.

 

6.2         Reserved.

 

6.3         Governing
Law; Jurisdiction. This Agreement shall be governed by and construed under the laws of the State of California. Each party
hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the county of Los Angeles State
of California, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it
is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.

 

    	-5-

    	 

    

 

6.4         Consent
to Jurisdiction. Each of the Company and the Purchaser hereby waives, and agrees not to assert in any such suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction in California of such court, that the suit, action
or proceeding is brought in an inconvenient forum, or that the venue of the suit, action, or proceeding is improper. Nothing in
this Section shall affect or limit any right to serve process in any other manner permitted by law.

 

6.5         Successors
and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors, and administrators of the parties hereto.

 

6.6         Entire
Agreement. This Agreement and the Exhibits hereto and thereto, and the other documents delivered pursuant hereto and thereto,
constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and no party shall
be liable or bound to any other party in any manner by any representations, warranties, covenants, or agreements except as specifically
set forth herein or therein. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the
parties hereto and their respective successors and assigns, any rights, remedies, obligations, or liabilities under or by reason
of this Agreement, except as expressly provided herein.

 

6.7         Severability.
In case any provision of this Agreement shall be invalid, illegal, or unenforceable, it shall to the extent practicable, be modified
so as to make it valid, legal and enforceable and to retain as nearly as practicable the intent of the parties, and the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

6.8         Amendment
and Waiver. Except as otherwise provided herein, any term of this Agreement may be amended, and the observance of any term
of this Agreement may be waived (either generally or in a particular instance, either retroactively or prospectively, and either
for a specified period of time or indefinitely), with the written consent of the Company and the Purchasers, or, to the extent
such amendment affects only one Purchaser, by the Company and such Purchaser. Any amendment or waiver effected in accordance with
this Section shall be binding upon each future holder of any security purchased under this Agreement (including securities into
which such securities have been converted) and the Company.

 

6.9         Notices.
All notices and other communications required or permitted hereunder or the Note shall be in writing and shall be effective when
delivered personally, or sent by telex or telecopier (with receipt confirmed), provided that (other than Conversion Notices under
the Note) a copy is mailed by registered mail, return receipt requested, or when received by the addressee, if sent by Express
Mail, Federal Express or other express delivery service (receipt requested) in each case to the appropriate address set forth below:

 

	If to the Company:	Penny Auction Solutions, Inc. 
	 	330 A St. Ste. 156
	 	San Diego, CA 92101
	 	 
	If to the Purchaser:	At the address set forth on the Purchaser’s Signature Page

 

    	-6-

    	 

    

 

6.10       Faxes
and Counterparts. This Agreement may be executed in one or more counterparts. Delivery of an executed counterpart of the Agreement
or any exhibit attached hereto by facsimile transmission shall be equally as effective as delivery of an executed hard copy of
the same. Any party delivering an executed counterpart of this Agreement or any exhibit attached hereto by facsimile transmission
shall also deliver an executed hard copy of the same, but the failure by such party to deliver such executed hard copy shall not
affect the validity, enforceability or binding nature effect of this Agreement or such exhibit.

 

6.11       Titles
and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience of reference only and are
not to be considered in construing this Agreement.

 

[Remainder of page
intentionally left blank.] 

 

    	-7-

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the date set forth on the Purchase Signature Page hereto.

	 	 	 
	 	PURCHASER 
	 	 
	 	(By Counterpart Form - SP Pages) 
	 	 
	 	COMPANY 
	 	 
	 	PENNY AUCTION SOLUTIONS, INC. 
	 	 
	 	By: 	 
	 	 	Michael C. Holt
	 	 	President

 

    	-8-

    	 

    

 

PURCHASER SIGNATURE PAGE

 

The undersigned
Purchaser has read the Securities Purchase Agreement dated as of January 23, 2015 and acknowledges that execution of this
Purchaser Signature Page shall constitute the undersigned’s execution of such agreement.

 

I hereby subscribe
for an aggregate of $54,123.64 in principal amount of Note and hereby deliver good funds with respect to this subscription for
the Note.

 

I am a resident of
Los Angeles, California.

	 	 
	Indeglia & Carney, P.C.
	Please print above the exact name(s) in which the Notes are to be held
	 	 
	My address is:	11900 W. Olympic Blvd., Suite 770
	 	Los Angeles, CA 90064 

 

    	 

    	 

    

 

Executed this 23rd
day of January, 2015 at Los Angeles, California.

 

SIGNATURES

 

INDIVIDUAL

	 	 	 
	 	 	Name
	 	 	 
	Signature (Individual)	 	Street address
	 	 	 
	 	 	Address to Which Correspondence Should be Directed
	 	 	 
	Signature (All record holders should sign)	 	City, State and Zip Code
	 	 	 
	Name(s) Typed or Printed	 	Tax Identification or Social Security Number
	 	 	(               )
	 	 	Telephone Number
	 	 	 
	Name(s) Typed or Printed (All recorded holders should sign)	 	 

 

    	 

    	 

    

 

CORPORATION, PARTNERSHIP, TRUST ENTITY
OR OTHER

	 	 	 	 	 	 	 
	Indeglia & Carney, a professional corporation	 	Address to Which Correspondence Should be Directed:
	Name of Entity	 	 
	 	 	 	 
	Professional Corporation	 	11900 W. Olympic Blvd, Suite 770	 
	Type of Entity (i.e., corporation, partnership, etc.)	 	Street Address
	 	 	 	 
	By:	 	 	 	 
	 	*Signature	 	Tax Identification or Social Security Number
	 	 	 	 
	California	 	 	Los Angele, CA 90064	 
	Jurisdiction of Formation of Entity	 	City, State and Zip Code
	 	 	 	 
	Marc Indeglia	 	 	 	 
	Name Typed or Printed	 	 
	 	 	 	 
	Its:	President	 	 	(310) 982-2720; (310) 982-2719	 
	 	Title	 	Telephone Number; Fax Number

 

*If Notes are being subscribed for by an
entity, the Certificate of Signatory must also be completed.

 

    	 

    	 

    

 

CERTIFICATE OF SIGNATORY

 

To be completed if Note is being subscribed
for by an entity.

 

I, Marc Indeglia, am
the President of Indeglia & Carney, a professional corporation (the “Entity”).

 

I certify that I am
empowered and duly authorized by the Entity to execute and carry out the terms of the Securities Purchase Agreement and to purchase
and hold the Note. The Securities Purchase Agreement has been duly and validly executed on behalf of the Entity and constitutes
a legal and binding obligation of the Entity.

 

IN WITNESS WHEREOF,
I have hereto set my hand this 23rd day of January, 2015

 

	 	Signature

 

    	 

    	 

    

 

ACCEPTANCE 

 

AGREED AND ACCEPTED:

 

PENNY AUCTION SOLUTIONS, INC.

 

	By:	 	 
	 	Michae1 C. Holt 	 
	 	President 	 

 

Date: January 23, 2015

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