Document:

EXHIBIT
4.15

 

EXTENSION AGREEMENT

 

Reference is made to that certain Note, dated October 21,
2016 (the “Note”), in the principal amount of $50,000 of Qpagos, a Nevada corporation (the “Company”).

 

Whereas, the
Note is due on February 17, 2017 (the “Maturity Date”), and the undersigned holder desires to extend the Maturity
Date until May 30, 2017;

 

Now,
Therefore, in consideration of the premises, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, it is agreed that:

 

		1.	The undersigned holder hereby agrees to extend to Maturity Date to May 30, 2017 to afford the Company more time to secure the funds to repay the
Note.

 

		2.	This Extension Agreement contains the entire agreement between the parties hereto regarding the
subject matter set forth herein and there are no agreements, warranties or representations which are not set forth therein or herein.

 

		3.	This Extension Agreement may not be modified or amended except by an instrument in writing duly signed by or on behalf of the parties hereto.

 

		4.	This Extension Agreement may be executed simultaneously in any number of counterparts, each of
which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

		5.	This
Extension Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without giving effect
to the principles of conflicts of laws thereof.

 

Executed as of the 19th day of May, 2017.

 

	 	 	 	COBBOLO LIMITED
	 	 	 
	 	By:	/s/ Victor Amirov
	 	 	Authorized Officer
	 	 	 
	ACKNOWLEDGED AND AGREED:	 	 
	 	 	 
	QPAGOS	 	 
	 	 	 
	By:	/s/ Gaston Pereira	 	 	 
	 	Authorized OfficerExhibit
4.16

 

EXTENSION
AGREEMENT

 

Reference
is made to that certain Note, dated October 21, 2016 (the “Note”), in the principal amount of $50,000 of Qpagos,
a Nevada corporation (the “Company”).

 

Whereas,
the Note was due on February 17, 2017 (the “Maturity Date”),
and the undersigned holder desired to extend the Maturity Date until May 30, 2017;

 

Whereas,
the Note was due on May 30, 2017 (the “Maturity Date”),
and the undersigned holder desires to further extend the Maturity Date until June 29, 2017;

 

Now,
Therefore, in consideration of the premises, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, it is agreed that:

 

		1.	The
                                         undersigned holder hereby agrees to extend to Maturity Date to June 29, 2017 to afford
                                         the Company more time to secure the funds to repay the Note.

 

		2.	This
                                         Extension Agreement contains the entire agreement between the parties hereto regarding
                                         the subject matter set forth herein and there are no agreements, warranties or representations
                                         which are not set forth therein or herein.

 

		3.	This
                                         Extension Agreement may not be modified or amended except by an instrument in writing
                                         duly signed by or on behalf of the parties hereto.

 

		4.	This
                                         Extension Agreement may be executed simultaneously in any number of counterparts, each
                                         of which shall be deemed an original but all of which together shall constitute one and
                                         the same instrument.

 

		5.	This
                                         Extension Agreement shall be governed by and construed in accordance with the laws of
                                         the State of Nevada without giving effect to the principles of conflicts of laws thereof.

 

Executed
as of the 30th day of May 2017.

 

	 	COBBOLO LIMITED
	 	 	 
	 	By:	/s/ Victor Amirov
	 	 	Authorized Officer

 

ACKNOWLEDGED
AND AGREED:

 

	QPAGOS	 
	 	 	 
	By:	/s/
    Gaston Pereira	 
	 	Authorized
    OfficerExhibit 4.17

 

NEITHER THIS NOTE NOR THE OFFER NOR SALE
OF THE SECURITIES REPRESENTED BY THIS NOTE HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES
ACT”). THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT, OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL
IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER
THE SECURITIES ACT.

 

QPAGOS

 

12% CONVERTIBLE PROMISSORY NOTE 

DUE:
DECEMBER 16, 2017

 

	$20,000.00	June 19, 2017 (the “Issuance Date”)

 

FOR VALUE RECEIVED,
the undersigned, QPAGOS (the “Company”), a Nevada corporation, promises to pay to the order DELINVEST COMMERCIAL LTD,
with an address located at Drake Chambers, P.O. Box 3321, Roadtown, Tortola, BVI or its registered assigns (the “Holder”
or “Holders”), the principal sum of Twenty Thousand Dollars (US$20,000.00) or such lesser amount as shall equal the
outstanding principal amount hereof (the “Principal”), together with interest (computed on the basis of a 365-day year)
on the outstanding principal amount at the rate of twelve percent (12%) per annum (the “Interest Rate”) from the date
hereof on the earlier of: (i) the six month anniversary of the Issuance Date (the “Maturity Date”) or (ii) an Event
of Default (as defined below),.

 

1.             Payment. All payments of principal of, and interest on, this Note are to be made in lawful money of the United States
of America.

 

2.             Interest. Interest on this Note shall commence accruing on the Issuance Date, shall accrue daily at the Interest
Rate on the amount of Principal amount from time to time then outstanding, be computed on the basis of a 365-day year comprised
of twelve (12) months.

 

3.             Prepayment. In the event the Company elects to repay the Holder in full prior to the Maturity Date, the Company may
repay the Principal Amount outstanding and all accrued and unpaid interest without the consent of the Holder.

 

4.             Conversion. (a) At the written election of the Holder (the “Notice of Election
to Convert”) given to the Company at any time prior to ten (10) days prior to the Maturity Date, the principal together
with all accrued and unpaid interest on this Note shall convert into shares of Common Stock on the Maturity Date at a conversion
rate equal to $0.20 per share.

 

(b)          Upon receipt of an executed Notice of Election to Convert within the ten day period together with this Original Note,
the Company shall, as soon as practicable after the conversion date set forth in the Notice of Election to Convert, issue and deliver
to Holder a certificate or certificates for the number of shares to which such Holder shall be entitled upon such conversion, including
a check payable to Holder for any cash amounts payable as described in Section 4(c). The Company shall send the Holder a
notice via facsimile or electronic mail confirming receipt of the Notice of Election to Convert within two (2) days of receipt
thereof.

 

     

     

    

 

Any certificates representing
shares of Common Stock issued pursuant to this Section 4 shall bear the following legend:

 

THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS
OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED
UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM.
THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR
TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST
BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF
ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

 

(c)           Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of this Note. Upon the conversion
of the outstanding principal and unpaid accrued interest under this Note into Common Stock, in lieu of the Company issuing any
fractional shares to the Lender, the Company shall pay to the Holder the amount of outstanding principal and accrued interest that
is not so converted.

 

5.             Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Note shall be governed by, and construed in accordance
with, the internal laws of the State of Nevada without regard to the choice of law principles thereof. The Company consents to
accept service of process by certified mail, return receipt requested in the event of litigation. The Company further consents
to accept service of process via recognized international courier in the case that the Company is not able to accept service by
the certified mail provided a receipt of delivery is available.

 

6.             Facsimile Signatures. This Note may be executed by facsimile signature which shall, for all purposes be deemed to
be as legally valid and binding upon the Company as an original signature.

 

7.             Event of Default. An “Event of Default” shall exist if any of the following conditions or events shall
occur and be continuing:

 

(a)           The Company shall fail to pay in full the entire outstanding principal amount of this Note and all interest accrued hereon
when due;

 

(b)          The
Company defaults in the performance of or compliance with its obligations under this Note, and such default has not been cured
for thirty (30) days after written notice of default is given to the Company;

 

(c)          The Company: (i) admits in writing its inability to pay, its debts as they become due; (ii) files, or consents by answer
or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy,
for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction;
(iii) makes an assignment for the benefit of its creditors; (iv) consents to the appointment of a custodian, receiver, trustee
or other officer with similar powers with respect to it or with respect to any substantial part of its property; (v) is adjudicated
as insolvent or to be liquidated; or (vi) takes corporate action for the purpose of any of the foregoing; or

 

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(d)          A court or governmental authority of competent jurisdiction enters an order appointing, without consent by the Company,
a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part
of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition
in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the
dissolution, winding-up or liquidation of the Company, or any such petition shall be filed against such party and such petition
shall not be dismissed within six (6) months.

 

8.             Remedies Following An Event Of Default. Upon occurrence of an Event of Default, this Note and all accrued interest
to the date of such default shall, at the option of the Holder, immediately become due and payable without presentment, protest
or notice of any kind, all of which are waived by the Company.

 

9.             Adjustments. The number of shares of Common Stock to be issued upon each conversion of this Note shall be subject
to adjustments as follows:

 

(a)           If the Company at any time subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification
or otherwise) the shares of Common Stock acquirable hereunder into a greater number of shares, then, after the date of record for
effecting such subdivision, the Conversion Rate in effect immediately prior to such subdivision will be proportionately reduced.
If the Company at any time combines (by any reverse stock split, recapitalization, reorganization, reclassification or otherwise)
the shares of Common Stock acquirable hereunder into a smaller number of shares, then, after the date of record for effecting such
combination, the Conversion Rate in effect immediately prior to such combination will be proportionately increased.

 

(b)          If at any time or from time to time after the date upon which this Note was issued by the Company, the shares of Common
Stock issuable upon the conversion of this Note shall be changed into the same or a different number of shares of any class or
classes of stock, whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets
or otherwise, then, in any such event, each holder of the Notes shall have the right thereafter to convert such stock into the
kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization,
merger, exchange, consolidation, sale of assets, or otherwise by a holder of the number of shares of Common Stock into which such
shares of this Note could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger,
exchange, consolidation, sale of assets, distribution of assets or other change, or with respect to such other securities or property
by the terms thereof.

 

(c)           Upon the occurrence of each adjustment or readjustment of the Conversion Rate as a result of the events described in this
Section 9, the Company, at its expense, shall compute such adjustment or readjustment and prepare and furnish to the Lender a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
Failure to give such notice or any defect therein shall not affect the legality or validity of the subject adjustment.

 

10.           Vote To Issue, Or Change The Terms Of, Notes. The written consent of the Holder shall be required for any change
or amendment to any of the Note.

 

11.           Transfer. This Note may not be offered, sold, assigned or transferred by the Holder without the consent of the Company.

 

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12.           Reissuance Of This Note.

 

(a)          Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification
undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this
Note, the Company shall execute and deliver to the Holder a new Note (in accordance with Section 10(c) representing the outstanding
principal.

 

(b)          Note Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder
at the principal office of the Company, for a new Note or Notes (in accordance with Section 10(c) and in principal amounts of at
least $10,000) representing in the aggregate the outstanding Principal of this Note, and each such new Note will represent such
portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

 

(c)           Issuance of New Notes. Whenever the Company is required to issue a new Note pursuant to the terms of this Note, such
new Note: (i) shall be of like tenor with this Note; (ii) shall represent, as indicated on the face of such new Note, the Principal
remaining outstanding (or in the case of a new Note being issued pursuant to Section 10(b), the Principal designated by the Holder
which, when added to the principal represented by the other new Notes issued in connection with such issuance, does not exceed
the Principal remaining outstanding under this Note immediately prior to such issuance of new Notes); (iii) shall have an issuance
date, as indicated on the face of such new Note, which is the same as the Issuance Date of this Note; (iv) shall have the same
rights and conditions as this Note; and (v) shall represent accrued and unpaid interest, if any, on the principal of this Note,
from the Issuance Date.

 

13.           Payment of Collection, Enforcement and Other Costs. If: (a) this Note is placed in the hands of an attorney for collection
or enforcement or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts
due under this Note or to enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization, receivership
of the Company or other proceedings affecting Company creditors’ rights and involving a claim under this Note, then the Company
shall pay the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, but not limited to, attorneys’ fees and disbursements.

 

14.           Construction; Headings. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not
be construed against any Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not
form part of, or affect the interpretation of, this Note.

 

15.           Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless
it is in writing and signed by an authorized representative of the waiving party.

 

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16.           Notices; Payments.

 

(a)          Notices.
Whenever a notice is required to be given under this Note, unless otherwise provided herein, the notice shall be given to
the Holder’s address set forth above. Any notice, demand or request required or permitted to be given by the Company or
the Holder pursuant to the terms of this Note shall be in writing and shall be deemed delivered: (i) when delivered
personally or by verifiable facsimile transmission, unless such delivery is made on a day that is not a business day, in
which case such delivery will be deemed to be made on the next succeeding business day; (ii) on the next business day after
timely delivery to an overnight courier; and (iii) on the business day actually received if deposited in the U.S. mail
(certified or registered mail, return receipt requested, postage prepaid), addressed as follows:

 

	COMPANY:	QPAGOS
	 	Paseo de la Reforma 404 Piso 15 PH
	 	Col. Juarez, Del. Cuauhtémoc
	 	Mexico, D.F. C.P. 06600
	 	 
	with a copy to:	Gracin & Marlow, LLP

405 Lexington Avenue, 26th Floor

New York, New York 10174

Attention: Leslie Marlow, Esq. 

Facsimile: (212) 208-4657

	 	 
	HOLDER:	DELINVEST COMMERCIAL LTD 

Drake Chambers, P.O. Box 3321,

Roadtown, Tortola, BVI

 

(b)          Payments. Except as otherwise provided in this Note, whenever any payment of cash is to be made by the Company to
any person pursuant to this Note, such payment shall be made in lawful money of the United States of America by a check drawn on
the account of the Company and sent via overnight courier service to such person at such address as previously provided to the
Company in writing; provided, that the Holder may elect to receive a payment of cash via wire transfer of immediately available
funds by providing the Company with prior written notice setting out such request and the Holder’s wire transfer instructions.
Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall
instead be due on the next succeeding day which is a business day.

 

17.           Cancellation. After all principal, interest and other amounts at any time owed on this Note have been paid in full,
this Note shall automatically be deemed cancelled, shall be surrendered to the Company for cancellation and shall not be reissued.

 

18.           Severability. If any provision of this Note is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Note so long as this Note as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

    5 

     

    

 

IN
WITNESS WHEREOF, the Company has
executed and delivered this
Note on the date and year first above written.

 

	 	QPAGOS
	 	 	 
	 	By:	 /s/ Gaston
Pereira
	 	Name:	 Gaston
Pereira

	 	Title:	 Chief Executive
Officer

  

6

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