Document:

Exhibit 10.11 REVENUE - Form of October 3 2014 Finders Warrant Certificate

EXHIBIT 10.11

THE SECURITIES REPRESENTED HEREBY, AND THE SECURITIES INTO WHICH THE SECURITIES REPRESENTED HEREBY ARE CONVERTIBLE, HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). 

NONE OF THE SECURITIES REPRESENTED HEREBY NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE AND FOREIGN SECURITIES LAWS.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED HEREBY, AND THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE, MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

WARRANT CERTIFICATE

REVENUE.COM CORPORATION

THESE WARRANTS WILL EXPIRE AND BECOME NULL AND VOID AT THE TIME OF EXPIRY (AS DEFINED HEREIN).

		
	Warrant Certificate No.:  FWC-10-02-2014-01

Number of Warrants: 320,000

	Right to Purchase 320,000 Shares of Common Stock

This is to certify that, for value received, [HOLDER NAME] (the “Holder”), is the registered holder of THREE HUNDRED TWENTY THOUSAND (320,000) share purchase warrants (each, a “Warrant”) of REVENUE.COM CORPORATION (the “Company”).  Each Warrant will entitle the Holder, upon and subject to the terms and conditions attached to this certificate or any replacement certificate (in either case the “Warrant Certificate”) as Appendix “A” (the “Terms and Conditions”), to acquire from the Company one fully paid and non-assessable share of common stock in the capital of the Company (each, a “Warrant Share”) at a price of $0.125 per Share at any time prior to 5:00 p.m. (Pacific time) on October 3, 2016 (the “Time of Expiry”).

1.

One (1) Warrant and the Exercise Price (as defined herein) are required to purchase one (1) Warrant Share.  This Warrant Certificate represents THREE HUNDRED TWENTY THOUSAND (320,000) Warrants.

2.

The Warrants are issued subject to the Terms and Conditions, and the Holder may exercise the right to purchase Warrant Shares only in accordance with the Terms and Conditions.

3.

Nothing contained herein or in the Terms and Conditions will confer any right upon the Holder, or any other person, to subscribe for or purchase any Warrant Shares at any time subsequent to the Time of Expiry, and, from and after such time, the Warrants and all rights under this Warrant Certificate will be void and of no value.

IN WITNESS WHEREOF the Company has caused this Warrant Certificate to be executed this 3rd day of October, 2014.

REVENUE.COM CORPORATION

Per:  /s/ Paul Dillman

         Authorized Signatory

APPENDIX “A”

TERMS AND CONDITIONS

1.

INTERPRETATION

1.1

Definitions

In these Terms and Conditions, unless there is something in the subject matter or context inconsistent therewith:

(a)

“Business Day” means any day of the year other than Saturday, Sunday or any day on which banks are required or authorized to close in the State of Nevada;

(b)

“Company” means Revenue.com Corporation, until a successor corporation will have become such as a result of a Reorganization, and, thereafter, “Company” will mean such successor corporation;

(c)

“Exercise Price” means $0.125 per Warrant Share, subject to adjustment as provided in Section 4.6;

(d)

“Exercise Date” has the meaning given to such term in Section 4.2(a);

(e)

“Holder” means the holder of the Warrants; 

(f)

“person” means a natural person, corporation, limited liability corporation, unlimited liability corporation, joint stock corporation, partnership, limited partnership, limited liability partnership,  trust, trustee, any unincorporated organization, joint venture or any other entity;

(g)

“Reorganization” has the meaning given to such term in Section 4.6(a)(ii);

(h)

“Shares” means the shares of common stock in the capital of the Company as constituted at the date hereof and any Shares resulting from any subdivision or consolidation of the Shares;

(i)

“Subscription Form” has the meaning given to such term in Section 4.1(a);

(j)

“Time of Expiry” means 5:00 pm (Pacific Time) on October 3, 2016;

(k)

“Warrant Certificate” means the Warrant Certificate attached to these Terms and Conditions;

(l)

“Warrants” means the share purchase warrants of the Company represented by the Warrant Certificate; and

(m)

“Warrant Shares” means the Shares issuable upon exercise of the Warrants.

1.2

Gender

Words importing the singular number include the plural and vice versa, and words importing the masculine gender include the feminine and neuter genders.

1.3

Interpretation not affected by Headings

The division of these Terms and Conditions into sections and the insertion of headings are for convenience of reference only and will not affect the construction or interpretation thereof.  

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1.4

Applicable Law

The Warrants will be exclusively construed in accordance with the laws of the Province of British Columbia. The Warrant Certificate and these Terms and Conditions are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein. The Holder irrevocably attorns to the exclusive jurisdiction of the courts of the Province of British Columbia.

1.5

Currency

Unless otherwise provided, all dollar amounts referred to in the Warrant Certificate and these Terms and Conditions are in lawful money of the United States of America.

2.

ISSUE OF WARRANTS

2.1

Additional Warrants

The Company may at any time and from time to time issue additional warrants or grant options or similar rights to purchase Shares.

2.2

Warrants to Rank Pari Passu

All Warrants and additional warrants, options or similar rights to purchase Shares from time to time issued or granted by the Company will rank pari passu, whatever may be the actual dates of issue or grant thereof, or of the dates of the certificates by which they are evidenced.

2.3

Replacement of Lost or Damaged Warrant Certificate

(a)

If the Warrant Certificate becomes mutilated, lost, destroyed or stolen, the Company, at its discretion, may issue and deliver a new Warrant Certificate of like date and tenor as the one mutilated, lost, destroyed or stolen, in exchange for, in place of, and upon cancellation of, such mutilated Warrant Certificate, or in lieu of, and in substitution for, such lost, destroyed or stolen Warrant Certificate.

(b)

The applicant for the issue of a new Warrant Certificate pursuant hereto will bear the cost of such issue and, in case of loss, destruction or theft, will furnish to the Company such evidence of ownership and of loss, destruction or theft of the Warrant Certificate so lost, destroyed or stolen as will be satisfactory to the Company in its discretion. Such applicant may also be required to furnish indemnity in amount and form satisfactory to the Company in its discretion, and will pay the reasonable charges of the Company in connection therewith.

2.4

Holder Not a Shareholder

The holding of the Warrant Certificate will not constitute the Holder a shareholder of the Company, nor entitle it to any right or interest in respect thereof except as expressly provided in the Warrant Certificate.

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3.

NOTICE

3.1

Notice to Holders

Any notice required or permitted to be given to the Holder will be in writing and may be given by prepaid registered post, electronic facsimile transmission or other means of electronic communication capable of producing a printed copy to the address of the Holder appearing on the Warrant Certificate or to such other address as the Holder may specify by notice in writing to the Company to the address set forth in Section 3.2, and any such notice will be deemed to have been given and received by the Holder: (i) if mailed, on the third Business Day following the mailing thereof; (ii) if by facsimile or other electronic communication, on successful transmission; or (iii) if delivered, on delivery, but if at the time of mailing, or between the time of mailing and the third Business Day thereafter, there is a strike, lockout or other labour disturbance affecting postal service, then the notice will not be effectively given until actually delivered.

3.2

Notice to the Company

Any notice required or permitted to be given to the Company will be in writing and may be given by prepaid registered post, electronic facsimile transmission or other means of electronic communication capable of producing a printed copy to the address of the Company set forth below or such other address as the Company may specify by notice in writing to the Holder to the address of the Holder appearing on the Warrant Certificate, and any such notice will be deemed to have been given and received by the Company: (i) if mailed, on the third Business Day following the mailing thereof; (ii) if by facsimile or other electronic communication, on successful transmission; or (iii) if delivered, on delivery, but if at the time of mailing, or between the time of mailing and the third Business Day thereafter, there is a strike, lockout or other labour disturbance affecting postal service, then the notice will not be effectively given until actually delivered.

Notices to the Company will be delivered to:

Revenue.com Corporation

4213 Manitou Way

Madison, Wisconsin, USA 53711

Attn:

Paul Dillman

Email:

paul@dillman.biz

with a copy (which will not constitute notice) to:

Clark Wilson LLP

Barristers and Solicitors

800 – 885 West Georgia Street

Vancouver, BC  V6C 3H1

Attn:

Virgil Hlus

Fax:

604.687.6314

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4.

EXERCISE OF WARRANTS

4.1

Method of Exercise of Warrants

The Holder may exercise its right to purchase the Warrant Shares at the Exercise Price at any time until the Time of Expiry by:

(a)

providing the Company with the Warrant Certificate and a completed and executed subscription form, in the form attached as Appendix “B” hereto (the “Subscription Form”), for the number of Warrant Shares which the Holder wishes to purchase;

(b)

surrendering the Warrant Certificate and the Subscription Form to the Company at the address set forth in Section 3.2; and

(c)

paying the appropriate Exercise Price, in Canadian funds, for the number of Warrant Shares subscribed for, either by bank draft, certified cheque or money order, payable to the Company, and delivering such payment to the Company at the address set forth in Section 3.2.  Alternatively, the Exercise Price may be wired to the Company or its lawyers pursuant to wiring instructions that will be provided to the Holder upon request. 

4.2

Effect of Exercise of Warrants

(a)

On the date the Company receives a duly executed Subscription Form and the Exercise Price for the number of Warrant Shares specified in the Subscription Form (the “Exercise Date”), the Warrant Shares so subscribed for will be deemed to have been issued and the persons to whom such Warrant Shares have been deemed to be issued will be deemed to have become the holder (or holders) of record of such Warrant Shares on such date.

(b)

As promptly as practicable after the Exercise Date and, in any event, within ten (10) Business Days of the Exercise Date, the Company will cause to be delivered to the person in whose name the Warrant Shares so subscribed for are to be registered as specified in the Subscription Form, and courier to such person at its respective address specified in the Subscription Form, a certificate for the appropriate number of fully paid and non-assessable Warrant Shares, which will not exceed that number which the Holder is entitled to purchase pursuant to the Warrant Certificate surrendered.

4.3

Subscription for Less Than Entitlement

The Holder may subscribe for and purchase a number of Warrant Shares less than the number which the Holder is entitled to purchase pursuant to the surrendered Warrant Certificate.  In the event of any purchase of a number of Warrant Shares less than the number which can be purchased pursuant to the Warrant Certificate, the Holder, upon exercise thereof, will be entitled to receive a new Warrant Certificate in respect of the balance of the Warrant Shares which the Holder was entitled to purchase pursuant to the surrendered Warrant Certificate and which were not then purchased.

4.4

Warrants for Fractions of Warrant Shares

If, on exercise or partial exercise of any Warrant, the Holder is entitled to receive a fraction of a Warrant Share, such Warrant may be exercised in respect of such fraction only in combination with another Warrant or Warrants which, in the aggregate, entitle the Holder to receive a whole Warrant Share.

4.5

Expiration of Warrants

The Holder agrees that, after the Time of Expiry, all rights under the Warrant Certificate and these Terms and Conditions will wholly cease and terminate and the Warrants will be void and of no further force and effect.

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4.6

Adjustment of Exercise Price

(a)

The Exercise Price and the number of Warrant Shares deliverable upon the exercise of the Warrants will be subject to adjustment in the event of and in the manner following:

(i)

if and whenever the Shares at any time outstanding are subdivided into a greater, or consolidated into a lesser, number of Shares, the Exercise Price will be decreased or increased proportionately as the case may be. Upon any such subdivision or consolidation, the number of Warrant Shares deliverable upon the exercise of the Warrants will be increased or decreased proportionately as the case may be; and

(ii)

in the case of any capital reorganization or of any reclassification of the capital of the Company, or in the case of the consolidation, merger or amalgamation of the Company with or into any other company (in any case, a “Reorganization”), each Warrant will, after such Reorganization, be deemed to confer the right to purchase the number of Warrant Shares or other securities of the Company (or of the company resulting from such Reorganization) which the Holder would have been entitled to upon the Reorganization if the Holder had been a shareholder of the Company at the time of such Reorganization.

(b)

In the case of any Reorganization, appropriate adjustments will be made in the application of the provisions of this Section 4.6 relating to the rights and interest thereafter of the Holder so that the provisions of this Section 4.6 will be made applicable as nearly as reasonably possible to any Warrant Shares or other securities deliverable after the Reorganization on the exercise of the Warrants.

(c)

The subdivision or consolidation of Shares at any time outstanding into a greater or lesser number of Shares (whether with or without par value) will not be deemed to be a Reorganization for the purposes of this Section 4.6.

(d)

The adjustments provided for in this Section 4.6 are cumulative and will become effective immediately after the applicable record date or, if no record date is fixed, the effective date of the event which results in such adjustments.

4.7

Determination of Adjustments

If any questions will at any time arise with respect to the Exercise Price or any adjustment provided for in Section 4.6, such questions will be conclusively determined by the independent firm of accountants duly appointed as auditors of the Company, or, if they decline to so act, by any other firm of certified public accountants registered with the Public Company Accounting Oversight Board that the Company may designate and who will have access to all appropriate records, and such determination will be binding upon the Company and the Holder.

5.

WAIVER OF CERTAIN RIGHTS

The Holder, as part of the consideration for the issue of the Warrants, waives and will not have any right, cause of action or remedy now or hereafter in any jurisdiction against any past, present or future incorporator, shareholder, director or officer of the Company for the issue of Warrant Shares pursuant to the exercise of any Warrant, or on any covenant, agreement, representation or warranty by the Company herein contained or contained in the Warrant Certificate.

6.

MODIFICATION OF TERMS AND CONDITIONS FOR CERTAIN PURPOSES

From time to time, the Company may, subject to the provisions herein, modify the Terms and Conditions for the purpose of correction or rectification of any ambiguities, defective provisions, errors or omissions.

7.

TIME OF ESSENCE

Time will be of the essence hereof.

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8.

SUCCESSORS

This Warrant Certificate will enure to the benefit of, and will be binding upon, the Company and its successors.

9.

WARRANTS NOT TRANSFERABLE

None of the Warrants, nor any rights attached to any of them, are transferable. 

APPENDIX B

SUBSCRIPTION FORM

TO:

Revenue.com Corporation

4213 Manitou Way

Madison, Wisconsin, USA 53711

The undersigned holder of the within Warrant Certificate (the “Holder”) hereby subscribes for 

 shares of common stock (each, a “Share”) in the capital of Revenue.com Corporation (the “Company) pursuant to the within Warrant Certificate at the purchase price of $0.125 per Share on the Terms and Conditions of the within Warrant Certificate. This subscription is accompanied by a certified cheque or bank draft payable to the Company for the whole amount of the purchase price of the Shares. The Holder represents that, at the time of exercise of the Warrants, all of the representations and warranties contained in the Convertible Note Subscription Agreement or Finder’s Fee Agreement, as applicable, between the Company and the Holder pursuant to which these Warrants were issued are true and accurate.  

The Holder hereby directs that the Shares hereby subscribed for be registered and delivered as follows:

					
	NAME(S) IN FULL

	 
	ADDRESS(ES)

	 
	NUMBER OF SHARES

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	TOTAL:

	 
	 

(Please print the full name in which share certificates are to be issued, stating whether Mr., Mrs. or Miss is applicable).

DATED this _____ day of ______________________, 20___.

In the presence of:

Signature of Witness

Signature of Warrant Holder

Please print below your name and address in full.

Name (Mr./Mrs./Miss)

Address

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LEGENDS

The certificates representing the Shares acquired on the exercise of the Warrants will bear the following legends, if and as applicable:

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE AND FOREIGN SECURITIES LAWS.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

INSTRUCTIONS FOR SUBSCRIPTION FORM

The signature to the Subscription Form must correspond in every particular with the name written upon the face of the Warrant Certificate without alteration or enlargement or any change whatever.  If there is more than one subscriber, all must sign.

In the case of persons signing by agent or attorney or by personal representative(s), the authority of such agent, attorney or representative(s) to sign must be proven to the satisfaction of the Company.

If the Warrant Certificate and the Subscription Form are being sent by mail, they must be sent by registered mail.Exhibit 10.12 Debenture dated October 3 2014 issued by Virurl, Inc. to Revenue.com

EXHIBIT 10.12

US$360,000 DEBENTURE

(the “Debenture”)

Date: October 3, 2014

FOR VALUE RECEIVED, VIRURL, INC. (the “Borrower”) unconditionally promises to pay US$360,000 (the “Principal”) on or prior to the maturity date of October 3, 2015 (the “Maturity Date”) to REVENUE.COM CORPORATION (the “Lender”) c/o Clark Wilson LLP, legal counsel to the Lender, at 900 – 885 West Georgia Street, Vancouver, British Columbia V6C 3H1.

Capitalized terms that are not defined herein will have the meanings ascribed to them in the Commitment Letter dated April 12, 2014 between the Borrower and the Lender (the “Commitment”).  The Borrower acknowledges that the execution and delivery of this Debenture will in no way merge or extinguish the Commitment or the terms and conditions thereof, which will continue in full force and effect.  In the event of any inconsistency or conflict between any of the provisions of the Commitment and any provisions of this Debenture, the provisions of the Commitment will prevail.

1.

Interest.  The term for this Debenture will be from October 3, 2014 through and including the Maturity Date (the “Term”).  The Borrower will also pay interest at a rate of 12% per annum (“Interest”) both before and after the Maturity Date. Interest will be calculated on the basis of a 360-day year and will accrue daily commencing on October 3, 2014 until payment in full of the Principal, all accrued interest and any other amounts which may become due hereunder. Interest payments will be due at the end of the Term.  Any payment not received within five (5) calendar days of its due date will be considered late and an event of default under this Debenture.  Payments will be made by the Borrower to the Lender at the address above.

2.

Prepayment.  The Borrower may, at any time, without penalty or premium, repay the Principal, provided that the Borrower will provide the Lender with not less than 30 days written notice of the Borrower’s intent to pre-pay.  Any such prepayment, other than a repayment in full and subject to the satisfaction of all obligations of the Borrower under this Debenture and the Security Agreement (as defined herein), will not result in the cancellation of the Security or the termination of the Security Agreement.  At the time of any prepayment of the Principal, all Interest due in respect of the amount to be prepaid will also be paid.  Any portion of the Principal repaid may not be re-borrowed.

3.

Repayment of Debt.  The Debenture, including Principal, Interest, and any fees owing with respect thereto (collectively, the “Indebtedness”), will come due and be repaid in full on the Maturity Date, unless and until an Event of Default occurs, whereupon all of the Indebtedness outstanding will, at the option of the Lender, immediately become due and payable, subject to any applicable cure period.  The term “Event of Default” is defined in that certain Security Agreement dated April 30, 2014 by and between the Lender and the Borrower (the “Security Agreement”).

4.

Security.  As security for the Indebtedness, the Borrower acknowledges and agrees that the first priority security interest in all presently and after acquired property and a floating charge over all of the Borrower’s other property, assets and undertaking (collectively, the “Security”) granted pursuant to the Security Agreement is applicable to the Indebtedness, and the term “Obligations”, as defined in the Security Agreement, includes the Indebtedness.

5.

Use of Loan Proceeds. The loan proceeds made available by the Lender pursuant to this Debenture will be used by the Borrower for working capital and the payment of business expenses except that no funds from the Debenture may be used for a payment to a non-arm’s length party.

6.

Remedies.  The Lender may avail itself of any rights or remedies available to the Lender hereunder or under the Security Agreement, however created.

7.

Taxes and Set-Off.  All payments to be made by the Borrower hereunder will be made without set-off, compensation, deduction or counterclaim and without deduction for any taxes, levies, duties, fees, deductions, withholdings, restrictions or conditions of any nature whatsoever.  If, at any time, any applicable law requires the Borrower to make any such deduction or withholding from any such payment, the sum due from the Borrower with respect to such payment will be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the Lender receives a net sum equal to the sum which it would have received had no deduction or withholding been required.

8.

Notices.  All notices, requests and demands hereunder, which may or are required to be given pursuant to any provision of this Debenture, will be given or made in writing and will be delivered by courier, facsimile or e-mail as follows:

(i)

To the Lender:

Revenue.com Corporation

c/o Clark Wilson LLP

900-885 West Georgia Street

Vancouver, British Columbia V6C 3H1

Attention: 

President c/o Virgil Hlus

Fax: 

(604) 687-6314

Email:

vzh@cwilson.com

(ii)

To the Borrower:

Virurl, Inc.

137 Bay Street, Suite 7

Santa Monica, CA 90405

Attention: 

Francisco Diaz-Mitoma

Fax: 

310-467-3042

Email:

diaz@revenue.com

or to such other addresses and facsimile numbers or e-mail addresses as such persons may, from time to time, advise each other by notice in writing.  All notices, requests and demands hereunder will be deemed to have been received, if delivered by courier, on the date of delivery, and, if sent by facsimile or e-mail, on the next business day after the facsimile or e-mail was sent.

9.

Assignment. This Debenture will enure to the benefit of, and be binding on, the Borrower and its successors and permitted assigns, and will enure to the benefit of, and be binding on, the Lender and its successors and assigns. The Borrower may not assign this Debenture, or any of its rights or obligations under this Debenture without the prior written consent of the Lender.  The Lender may assign this Debenture and any of the rights, interests and obligations of the Lender hereunder to any person.

10.

Termination.  All of the rights of the Lender under this Debenture will terminate if and when the Indebtedness is indefeasibly paid in full.

11.

Miscellaneous.

(a)

This Debenture will be governed by, and construed in accordance with, the laws of the State of Nevada and applicable federal laws thereto. The Borrower waives presentment for payment, notice of dishonour, protest and notice of protest in respect of this Debenture.  This Debenture will become effective when it has been executed and delivered.  Time will be of the essence of this Debenture in all respects.  The Borrower will, from time to time, at the request of the Lender, do, execute and deliver, or cause to be done, executed and delivered, all further acts, things, documents, instruments or agreements in connection with this Debenture as may be necessary or desirable in order to give full effect to the provisions of this Debenture.

(b)

The Borrower represents that, prior to entering into this Debenture, it has had a pre-existing personal or business relationship with the Lender.

(c)

The Borrower represents that, by reason of its own business and financial experience or that of its professional advisor, it is financially sophisticated and has the capacity to protect its own interest in connection with this Debenture.

VIRURL, INC.

Per:

/s/ Francisco Diaz-Mitoma

Authorized Signatory

Name: Francisco Diaz-Mitoma

Title: CEO

2

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