Document:

Exhibit
10.2

 

CERTAIN
CONFIDENTIAL INFORMATION (MARKED BY BRACKETS AS “[***]”) HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL
AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

ASSET
PURCHASE AGREEMENT

 

This
ASSET PURCHASE AGREEMENT (the “Agreement”) dated as of June 30, 2022 (the “Effective Date”), is by and
between Bitech Technologies Corporation, a Delaware corporation (formerly, Spine Injury Solutions, Inc.) (the “Seller”)
and SPIN Collections LLC, a Texas limited liability company (the “Buyer”) and Peter Dalrymple (“Dalrymple”).
Each of the Seller and the Buyer may be referred to herein collectively as the “Parties” and separately as a “Party.”

 

RECITALS

 

The
Seller desires to sell, transfer and assign to the Buyer and Buyer desires to purchase certain accounts receivables of Seller’s
business relating to spine pain management receivables purchased from doctors (the “Business”) in accordance with
the terms and subject to the conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the promises and the mutual representations, warranties and covenants and subject to the conditions contained
in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties,
intending to be legally bound, agree as follows:

 

	1.	SALE
    OF ASSETS; ASSUMPTION OF LIABILITIES
	 	 	 
	1.1	Assets.
    The Seller hereby agrees to sell, assign and deliver to the Buyer at the Closing (as defined below) all right, title and interest
    in and to the assets and rights, together with any replacements thereof and additions thereto made between the date hereof and the
    Closing, as hereafter described in this Section 1.1 (collectively, the “Assets”), including the following:
	 	 	 
	 	(a)	All
    of the Seller’s right, title and interest to accounts receivable or payments due to the Seller in connection with the operation
    of the Business set forth on Schedule 1.1(a)( the “Receivables”).
	 	 	 
	1.2	Assumed
    Liabilities. Buyer shall assume and agree to pay, perform and discharge when due any and all of Seller’s liabilities and
    obligations, whether accrued, absolute, contingent or otherwise including, without limitation, liability or obligation with respect
    to (collectively, the “Assumed Liabilities”):
	 	 	 
	 	(a)	all
    Liabilities arising out of or relating to the ownership or operation of the Business and the Assets prior to the Closing, including,
    but not limited to (i) any claim for injury to persons or property; (ii) any employees, agents, independent contractors or creditors
    of the Seller or under any plan or arrangement with respect thereto and for wages, salaries, bonuses, commissions, sick pay, vacation
    or holiday pay, overtime or other benefits; (iii) any tax, assessment or other governmental imposition of any type or description,
    including, without limitation, any income or excess profits taxes or local income, sales, use, excise, value added, ad valorem or
    franchise taxes, together with any interest, assessments and penalties thereon; (iv) any violation by the Seller of any requirement
    of law prior to the Closing Date; and (v) any litigation or other legal proceedings, claims or investigations related to the Seller
    or the Business.
	 	 	 
	 	(b)	For
    purposes of this Agreement, “Liabilities” means liabilities, obligations or commitments of any nature whatsoever,
    whether asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured or otherwise.
	 	 	 
	 	(c)	For
    purposes of this Agreement, “Tax(es)” means any federal, state, local or foreign tax, charge, fee, levy, custom,
    duty, deficiency, or other assessment of any kind or nature imposed by any Taxing Authority (including any income (net or gross),
    gross receipts, profits, windfall profit, sales, use, goods and services, ad valorem, franchise, license, withholding, employment,
    social security, workers compensation, unemployment compensation, employment, payroll, transfer, excise, import, real property, personal
    property, intangible property, occupancy, recording, minimum, alternative minimum, environmental or estimated tax), including any
    liability therefor as a transferee (including under Section 6901 of the Code or similar provision of applicable Law) or successor,
    as a result of Treasury Regulation Section 1.1502-6 or similar provision of applicable Law or as a result of any Tax sharing, indemnification
    or similar agreement, together with any interest, penalty, additions to tax or additional amount imposed with respect thereto.

 

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	2.	PURCHASE
    PRICE
	 	 
	2.1	Purchase
    Price. The Assets shall be sold by the Seller and shall be purchased by the Buyer in consideration for $10 and other good and
    valuable consideration that is acknowledged as received.
	 	 
	2.2	Expenses.
    Any transfer tax or sales tax or recording or governmental fees imposed upon the sale, assignment and delivery of the Assets shall
    be paid by the Seller, provided that any freight and insurance charges on delivery of the Assets to the Buyer shall be paid by the
    Buyer.
	 	 
	3.	CLOSING
	 	 
	3.1	Closing.
    The closing (the “Closing” or “Closing Date”) of the transactions contemplated by this Agreement
    shall take place on June 30, 2022 at the offices of Seller’s legal counsel.
	 	 
	3.2	Closing
    Deliverables.
	 	 
	 	(a) 	At the Closing, Seller shall deliver to Buyer the following:
	 	 	 	 
	 	 	(i)	a
    bill of sale in the form of Exhibit A attached hereto (the “Bill of Sale”) and duly executed by Seller,
    transferring the Assets Buyer;
	 	 	 	 
	 	 	(ii)	a
    certificate of the Secretary (or equivalent officer) of Seller certifying as to the resolutions of the board of directors and the
    stockholders of Seller, which authorize the execution, delivery and performance of this Agreement, the Bill of Sale and the other
    agreements, instruments and documents required to be delivered in connection with this Agreement or at the Closing (collectively,
    the “Transaction Documents”) and the consummation of the transactions contemplated hereby and thereby;

 

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	 	 	(iii)	such
    other customary instruments of transfer or assumption, filings or documents, in form and substance reasonably satisfactory to Buyer,
    as may be required to give effect to the transactions contemplated by this Agreement; and
	 	 	 	 
	 	(b)	At
    the Closing, Buyer shall deliver to Seller the following:
	 	 	 	 
	 	 	(i)	the
    Note Cancellation Agreement;
	 	 	 	 
	 	 	(ii)	a
    UCC termination statement Dalrymple which shall have been filed with the Texas Secretary of State, as to Bitech and Seller;
	 	 	(iii)	a
    certificate of the Secretary (or equivalent officer) of Buyer certifying as to (A) the resolutions of the board of directors of Buyer,
    which authorize the execution, delivery and performance of this Agreement and the other Transaction Documents and the consummation
    of the transactions contemplated hereby and thereby and (B) the names and signatures of the officers of Buyer authorized to sign
    this Agreement and the other Transaction Documents;
	 	 	 	 
	 	 	(iv)	copies
    of Seller’s bank statements since January 1, 2021 as it relates to the Business.

 

	4.	REPRESENTATIONS
    AND WARRANTIES OF SELLER
	 	 
	 	In
    order to induce the Buyer to enter into this Agreement and to consummate the transactions contemplated under this Agreement, the
    Seller makes the following representations, warranties and covenants, each of which is relied upon by Buyer in consummating the transactions
    contemplated hereby regardless of any other investigation made or information obtained by the Buyer:
	 	 
	4.1	Organization,
    Power and Authority. The Seller is a corporation duly organized, validly existing and in good standing under the laws of Delaware
    and has full corporate power and authority to perform the transactions and agreements contemplated by this Agreement.
	 	 
	4.2	Authorization;
    Binding Obligation: Consents. The execution, delivery and performance of this Agreement have been authorized by all necessary
    corporate, shareholder and legal action on the part of the Seller. This Agreement has been duly executed and delivered by the Seller
    and is the legal, valid and binding obligation of the Seller enforceable against it in accordance with its terms. The execution and
    delivery of this Agreement, and the consummation of the transactions contemplated hereby by the Seller does not and will not, violate
    or result in the breach of documents or laws binding on the Seller. No consent, action, permit, license, approval or authorization
    of is required or necessary to be obtained by the Seller in connection with the execution, delivery and performance of this Agreement.
	 	 
	4.3	Litigation
    and Proceedings. To the knowledge of the Seller, there are no actions, suits, proceedings, or investigations pending or threatened
    by or against Seller or affecting Seller or its properties, at law or in equity, before any court or other governmental agency or
    instrumentality, domestic or foreign, or before any arbitrator of any kind.

 

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	4.4	No
    Other Representations and Warranties.
    Except for the representations and warranties
    contained in this Section 4, Seller has not made nor does it make any other express or implied representation or warranty, either
    written or oral, on behalf of Seller, including any representation or warranty as to the accuracy or completeness of any information,
    documents or material regarding the Business and the Assets furnished or made available to Buyer and its representatives in any form
    or as to the future revenue, profitability, or success of the Business, or any representation or warranty arising from statute or
    otherwise in law. For purposes of this Agreement, “Representative” means, with respect to any person or entity,
    any and all directors, officers, employees, consultants, financial advisors, counsel, accountants and other agents of such Person.
	 	 
	5.	REPRESENTATIONS
    AND WARRANTIES OF BUYER
	 	 
	 	Each
    of the Buyer and Dalrymple, jointly and severely, represents and warrants that:
	 	 
	5.1	Corporate
    Authority. The Buyer is a limited liability company duly organized, validly existing and in good standing under the laws of Texas
    and has full corporate power and authority to perform the transactions and agreements contemplated by this Agreement.
	 	 
	5.2	Authorization;
    Binding Obligation: Consents. The execution, delivery and performance of this Agreement have been authorized by all necessary
    corporate, shareholder and legal action on the part of the Buyer and Dalrymple. This Agreement has been duly executed and delivered
    by the Buyer and Dalrymple and is the legal, valid and binding obligation of the Buyer and Dalrymple enforceable against them in
    accordance with its terms. The execution and delivery of this Agreement, and the consummation of the transactions contemplated hereby
    by the Buyer and Dalrymple does not and will not, violate or result in the breach of documents or laws binding on the Buyer or Dalrymple.
    No consent, action, permit, license, approval or authorization of is required or necessary to be obtained by the Buyer or Dalrymple
    in connection with the execution, delivery and performance of this Agreement.
	 	 
	5.3	Solvency;
    Sufficiency of Funds.
    Immediately after giving effect to the transactions
    contemplated hereby, Buyer and Dalrymple shall be solvent and shall: (a) be able to pay their debts as they become due; (b) own property
    that has a fair saleable value greater than the amounts required to pay their debts (including a reasonable estimate of the amount
    of all Liabilities); and (c) have adequate capital to carry on the Business. No transfer of property is being made and no obligation
    is being incurred in connection with the transactions contemplated hereby with the intent to hinder, delay or defraud either present
    or future creditors of Buyer or Seller. In connection with the transactions contemplated hereby, Buyer has not incurred, nor plans
    to incur, debts beyond its ability to pay as they become absolute and matured.
	 	 
	5.4	Brokers.
    No broker, finder or investment banker is entitled
    to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated by this Agreement based
    upon arrangements made by or on behalf of Buyer.
	 	 
	5.5	Independent
    Investigation.
    Buyer and Dalrymple have conducted their own
    independent investigation, review and analysis of the Business and the Assets, and acknowledge that they have been provided adequate
    access to the personnel, properties, assets, premises, books and records and other documents and data of Seller for such purpose.
    Each of Buyer and Dalrymple acknowledges and agrees that: (a) in making their decision to enter into this Agreement and to consummate
    the transactions contemplated hereby, Buyer and Dalrymple have relied solely upon their own investigation and the express representations
    and warranties of Seller set forth in Section 4 of this Agreement; and (b) neither Seller nor any other person has made any representation
    or warranty as to Seller, the Business, the Assets or this Agreement, except as expressly set forth in Section 4 of this Agreement.

 

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	6.	ADDITIONAL
    COVENANTS OF THE SELLER
	 	 
	6.1	Further
    Assurances.
    Following the Closing, each of the Parties hereto shall
    execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably
    required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and other Transaction
    Documents.
	 	 
	7.	CONDITIONS
    TO THE OBLIGATIONS OF THE BUYER
	 	 
	 	The
    obligation of the Buyer to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment at or prior
    to the Closing of each of the following conditions:
	 	 
	7.1	Accuracy
    of Representations and Warranties and Compliance with Obligations. The representations and warranties of the Seller in this Agreement
    shall be true and correct in all material respects on the date of this Agreement and on the Closing Date. The Seller shall have performed
    and complied with all of its obligations required by this Agreement to be performed or complied with at or prior to the Closing and
    shall have delivered to the Buyer copies of resolutions adopted by the board of directors and, if necessary, shareholders of the
    Seller authorizing the transactions contemplated by this Agreement.
	 	 
	8.	CONDITIONS
    TO OBLIGATIONS OF THE SELLER
	 	 
	 	The
    obligations of the Seller to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment at or
    prior to the Closing Date of each of the following conditions:
	 	 
	8.1	Accuracy
    of Representations and Warranties and Compliance with Obligations. The representations and warranties of the Buyer in this Agreement
    shall be true and correct in all material respects on the date of this Agreement and on the Closing Date. The Buyer shall have performed
    and complied with all of its obligations required by this Agreement to be performed or complied with at or prior to the Closing and
    shall have delivered to the Seller copies of resolutions adopted by the board of directors of the Seller authorizing the transactions
    contemplated by this Agreement.
	 	 
	9.	CERTAIN
    ACTIONS AFTER THE CLOSING
	 	 
	9.1	Misdirected
    Funds or Product Returns. If, after the Closing, the Seller shall receive any payment on account of the Receivables or other
    of the Assets, it shall promptly endorse over and remit such payments to the Buyer.

 

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	10.	INDEMNIFICATION
	 	 
	10.1	Survival.
    Subject to the limitations and other provisions
    of this Agreement, the representations and warranties contained herein shall survive the Closing and shall remain in full force and
    effect until the date that is 12 months from the Closing Date. None of the covenants or other agreements contained in this Agreement
    shall survive the Closing Date other than those which by their terms contemplate performance after the Closing Date, and each such
    surviving covenant and agreement shall survive the Closing for the period contemplated by its terms. Notwithstanding the foregoing,
    any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from the
    non-breaching party to the breaching party prior to the expiration date of the applicable survival period shall not thereafter be
    barred by the expiration of such survival period and such claims shall survive until finally resolved.
	 	 
	10.2	Indemnity
    by the Seller. The Seller agrees to indemnify and hold the Buyer and Dalrymple and Buyer’s officers, directors, employees
    and agents and (collectively, the “Buyer Indemnitees”) harmless from all Buyer Indemnified Liabilities. For this
    purpose, “Buyer Indemnified Liabilities” shall mean all suits, proceedings, claims, expenses, losses, costs, liabilities,
    judgments, deficiencies, assessments, actions, investigations, penalties, fines, settlements, interest and damages (including reasonable
    attorneys’ fees and expenses), whether suit is instituted or not and, if instituted, whether at any trial or appellate level,
    and whether raised by the parties hereto or a third party, incurred or suffered by the Buyer Indemnitees or any of them arising from,
    in connection with or as a result of (a) any false or inaccurate representation or warranty made by or on behalf of the Seller in
    or pursuant to this Agreement and (b) any default or breach in the performance of any of the covenants or agreements made by the
    Seller in or pursuant to this Agreement.
	 	 
	10.3	Indemnity
    by the Buyer. The Buyer and Dalrymple, jointly and severely, agree that they will indemnify and hold the Seller and its officers,
    directors, employees and agents harmless (collectively, the “Seller Indemnitees”) from all Seller Indemnified
    Liabilities. For this purpose, “Seller Indemnified Liabilities” incurred by the Seller means all suits, proceedings,
    claims, expenses, losses, costs, liabilities, judgments, deficiencies, assessments, actions, investigations, penalties, fines, settlements,
    interest and damages (including reasonable attorneys’ fees and expenses), whether suit is instituted or not and, if instituted,
    whether at any trial or appellate level, and whether raised by the parties hereto or a third party, incurred or suffered by the Seller,
    arising from, in connection with or as a result of (a) any false or inaccurate representation or warranty made by or on behalf of
    the Buyer in or pursuant to this Agreement; (b) any default or breach in the performance of any of the covenants or agreements made
    by the Buyer or Dalrymple in this Agreement; or (c) the operation of the Business or the Assets prior to and after the Closing Date.

 

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	10.4	Procedure
    for Indemnification.
	 	 
	 	(a)	In
    the event any person or entity not a party to this Agreement shall make any demand or claim or file or threaten to file or continue
    any lawsuit, which demand, claim or lawsuit may result in Buyer Indemnified Liabilities or Seller Indemnified Liabilities, as the
    case may be, the indemnified party shall give written notice to such effect to the indemnifying party promptly upon becoming aware
    thereof. In such event, the indemnifying party shall assume full control of the defense thereof and hire counsel (which counsel shall
    be reasonably satisfactory to the indemnified party) to defend any such demand, claim or lawsuit (provided, however, that the failure
    to give such Notice shall not relieve the indemnifying party of its obligations hereunder). The indemnified party shall be permitted
    to participate in such defense at its sole cost and expense, provided that if the indemnifying party proposes that the same counsel
    represent both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be inappropriate
    due to actual or potential differing interests between them, then the indemnified party shall have the right to retain its own counsel
    at the cost and expense of the indemnifying party. In the event that the indemnifying party shall fail to respond within 20 days
    after receipt of the notice from the indemnified party of any such demand, claim or lawsuit, then the indemnified party may retain
    counsel and conduct the defense of such demand, claim or lawsuit, as it may in its sole discretion deem proper, at the sole cost
    and expense of the indemnifying party.
	 	 	 
	 	(b)	With
    regard to claims of third parties for which indemnification is payable hereunder, such indemnification shall be paid in advance of
    settlement or final adjudication thereof on a current basis within 30 days of receipt from the indemnified party of such supporting
    documentation as the indemnifying party may reasonably request.
	 	 	 
	11.	TERMINATION
	 	 
	11.1	Termination.
    This Agreement may be terminated and the transactions contemplated hereby may be abandoned, but not later than the Closing Date:
	 	 
	 	(a)	by
    mutual written consent of the Buyer and the Seller;
	 	 	 
	 	(b)	by
    the Buyer, in its sole discretion, if any of the representations or warranties of the Seller contained herein are not in all material
    respects true, accurate and complete or if the Seller breaches or fails to comply with any covenant or agreement contained herein;
    or
	 	 	 
	 	(c)	by
    the Seller, in its sole discretion, if any of the representations or warranties of the Buyer contained herein are not in all material
    respects true, accurate and complete or if the Buyer breaches or fails comply with any covenant or agreement contained herein.
	 	 	 
	11.2	Effect
    of Termination. In the event of a termination of this Agreement pursuant to Section 11.1, written notice thereof shall promptly
    be given to the other party hereto and this Agreement shall terminate and the transactions contemplated hereby shall be abandoned
    without further action by the other party hereto. Notwithstanding such termination, each party shall have the right to seek damages
    in the event of a breach by the other party of its obligations under this Agreement.
	 	 	 
	12.	MISCELLANEOUS
	 	 
	12.1	Amendment
    and Modification; Waiver; Assignment; Binding Effect. This Agreement may only be amended by written instrument signed by the
    parties hereto. No waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. No waiver
    of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or
    not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. No party shall assign its
    rights or delegate its duties hereunder without the prior written consent of the other party. This Agreement shall be binding upon
    and inure to the benefit of the parties and their respective successors and permitted assigns.

 

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	12.2	Entire
    Agreement. This Agreement and the schedules and exhibits attached hereto constitute the entire agreement of the parties with
    respect to the sale of the Assets and the other transactions contemplated in this Agreement, and supersede all prior understandings,
    agreements and oral representations and warranties of the parties with respect to the subject matter of this Agreement.
	 	 
	12.3	Execution
    in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original. Delivery
    of executed signature pages hereof by facsimile transmission shall constitute effective and binding execution and delivery hereof.
	 	 
	12.4	Notices.
    Any notice, request, information or other document to be given hereunder to any of the parties by any other party shall be in writing
    and shall be delivered by electronic mail addressed to: 

 

	If
    to Seller:	 	If
    to Buyer:
	 	 	 
	c/o
    Benjamin Tran

    Bitech
    Technologies Corporation

    600
    Anton Boulevard, Suite 1100

    Costa
    Mesa, CA 92626

    Email:
    ben@bitech.tech
	 	Peter
    Dalrymple

    c/o
    The Loev Law Firm, PC

    6300
    West Loop South

    Suite
    280

    Bellaire,
    Texas 77401

    dloev@loevlaw.com

	 	 	 
	Laura
    Anthony and Lazarus Rothstein

    Anthony
    L.G., PLLC

    625
    North Flagler Drive, Suite 600

    West
    Palm Beach, FL 33401

    Email:
    lanthony@anthonypllc.com and lrothstein@anthonypllc.com
	 	 

 

	 	Any
    such notice shall be deemed delivered on the date delivered if by personal delivery or by facsimile, or (b) on the date upon which
    the return receipt is signed or delivery is refused or not deliverable, as the case may be, if mailed. Any party may change the address
    to which notices under this Agreement are to be sent to it by giving written notice thereof.
	 	 
	12.5	Governing
    Law. This Agreement shall be governed by, enforced, and construed under and in accordance with the laws of the United States
    of America and, with respect to the matters of state law, with the laws of the State of Delaware. Venue for all matters shall be
    in New Castle County, Delaware, without giving effect to principles of conflicts of law thereunder. Each of the parties (a) irrevocably
    consents and agrees that any legal or equitable action or proceedings arising under or in connection with this Agreement shall be
    brought exclusively in the federal courts of the United States. By execution and delivery of this Agreement, each party hereto irrevocably
    submits to and accepts, with respect to any such action or proceeding, generally and unconditionally, the jurisdiction of the aforesaid
    court, and irrevocably waives any and all rights such party may now or hereafter have to object to such jurisdiction.

 

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	12.6	Waiver
    of Jury Trial Rights. Each party hereto specifically waives any right it might otherwise have to a jury trial with respect to
    any matter arising under this Agreement.
	 	 
	12.7	Attorneys’
    Fees. If any party to this Agreement brings an action to enforce its rights arising out of or relating to this Agreement, the
    prevailing party shall be entitled to recover its costs and expenses, including without limitation reasonable attorneys’ fees,
    incurred in connection with such action, including any appeal of such action.
	 	 
	12.8	Severability.
    If any court, arbitrator or administrative agency of a competent jurisdiction finds any provision of this Agreement is illegal, invalid
    or unenforceable but would be legal, valid or enforceable if some part or parts of it were deleted or modified, or if the period
    or area of application were reduced, then such provision shall apply automatically with such modification as is necessary to make
    it legal, valid and enforceable under applicable laws, and otherwise this Agreement shall continue in full force and effect.
	 	 
	12.9	Specific
    Performance. The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement
    were not performed by them in accordance with the terms hereof or were otherwise breached and that each Party hereto shall be entitled
    to an injunction or injunctions, specific performance and other equitable relief to prevent breaches of the provisions hereof and
    to enforce specifically the terms and provisions hereof, without the proof of actual damages, in addition to any other remedy to
    which they are entitled at law or in equity. Each Party agrees to waive any requirement for the security or posting of any bond in
    connection with any such equitable remedy, and agrees that it will not oppose the granting of an injunction, specific performance
    or other equitable relief on the basis that (a) the other Party has an adequate remedy at law, or (b) an award of specific performance
    is not an appropriate remedy for any reason at law or equity.
	 	 
	12.10	Entire
    Agreement. This Agreement constitutes the entire agreement with respect to the Confidential Information disclosed hereunder and
    other matters set forth herein, and supersedes all prior oral or written agreements between the parties with respect to the subject
    matter hereof.
	 	 
	12.11	Counterparts.
    This Agreement may be executed in one or more counterparts, any of which may be executed and transmitted by facsimile or other electronic
    means, and each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The
    exchange of signed counterparts by each of the parties, including exchange by electronic means, will constitute effective execution
    and delivery of this Agreement.
	 	 
	12.12	Interpretation.
    Each party hereto has reviewed, and has had an adequate opportunity to have its attorney review, this Agreement. Any controversy
    over construction of this Agreement shall be decided without regard to events of authorship or negotiation.
	 	 
	12.13	Expenses.
    Except as otherwise provided in this Agreement, all legal, accounting and other costs and expenses incurred in connection with this
    Agreement and transactions contemplated by this Agreement shall be paid by the party incurring the expenses.

 

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IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the Effective Date.

 

	 	Bitech
    Technologies Corporation
	 	(formerly,
    Spine Injury Solutions, Inc.)
	 	 	 
	 	By:	/s/
    Benjamin Tran
	 	Name:	Benjamin
    Tran
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	SPIN Collections LLC
	 	 	 
	 	By:	/s/
    Peter Dalrymple
	 	Name:	Peter
    Dalrymple
	 	Title:	Manager
	 	 	 
	 	 	/s/
    Peter Dalrymple
	 	 	Peter
    Dalrymple

 

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SCHEDULES

 

Schedule
1.1 Assets

 

1.1(a)
Accounts Receivables

 

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SCHEDULE
1.1(a)

ACCOUNTS
RECEIVABLES

 

	Houston Accounts (spiny6)
	Patient	 	Account #	 	 	Balance	 
	[***]	 	 	1028	 	 	$	9,227.00	 
	[***]	 	 	1127	 	 	$	9,740.00	 
	Total:	 	 	 	 	 	$	18,967.00	 

 

	Tyler Accounts (NO6)	 	Account #	 	 	Balance	 
	[***]	 	 	88	 	 	$	6,940.00	 
	Total:	 	 	 	 	 	$	6,940.00	 

 

	Odessa Accounts(OD6)
	Patient	 	Account #	 	 	Balance	 
	[***]	 	 	491	 	 	$	13,653.00	 
	[***]	 	 	308	 	 	$	8,828.00	 
	[***]	 	 	235	 	 	$	27,580.00	 
	[***]	 	 	361	 	 	$	38,370.00	 
	[***]	 	 	502	 	 	$	27,585.00	 
	[***]	 	 	608	 	 	$	1,500.00	 
	[***]	 	 	546	 	 	$	31,675.00	 
	[***]	 	 	565	 	 	$	25,955.00	 
	[***]	 	 	70	 	 	$	4,598.00	 
	[***]	 	 	67	 	 	$	5,670.00	 
	[***]	 	 	649	 	 	$	10,922.50	 
	[***]	 	 	100	 	 	$	15,900.00	 
	[***]	 	 	408	 	 	$	9,740.00	 
	[***]	 	 	182	 	 	$	12,848.00	 
	[***]	 	 	550	 	 	$	10,388.00	 
	[***]	 	 	232	 	 	$	27,909.00	 
	[***]	 	 	634	 	 	$	22,750.00	 
	Total:	 	 	 	 	 	$	295,871.50	 

 

	New Mexico Accounts (LC6) or (EP6)
	Patient	 	Account #	 	 	Balance	 
	[***]	 	 	13	 	 	$	550.00	 
	[***]	 	 	46	 	 	$	1,849.37	 
	[***]	 	 	6	 	 	$	18,900.00	 
	[***]	 	 	124	 	 	$	1,195.75	 
	[***]	 	 	4	 	 	$	11,850.00	 
	[***]	 	 	103	 	 	$	536.04	 
	[***]	 	 	47	 	 	$	3,677.11	 
	[***]	 	 	51	 	 	$	1,881.82	 
	[***]	 	 	143	 	 	$	7,425.20	 
	[***]	 	 	165	 	 	$	1,784.48	 
	[***]	 	 	168	 	 	$	1,195.75	 
	[***]	 	 	167	 	 	$	3,023.49	 
	[***]	 	 	82	 	 	$	4,472.71	 
	[***]	 	 	70	 	 	$	31,639.32	 

 

    	12

    	 

    

 

Page
2 

Spine
Pain Management, Inc. Receivables

 

	Patient	 	Account #	 	 	Balance	 
	[***]	 	 	127	 	 	$	7,295.44	 
	[***]	 	 	58	 	 	$	1,784.48	 
	[***]	 	 	1	 	 	$	18,900.00	 
	[***]	 	 	151	 	 	$	319.73	 
	[***]	 	 	154	 	 	$	1,195.75	 
	[***]	 	 	30	 	 	$	757.05	 
	[***]	 	 	22	 	 	$	11,015.81	 
	[***]	 	 	27	 	 	$	7,154.83	 
	[***]	 	 	180	 	 	$	1,301.46	 
	[***]	 	 	18	 	 	$	11,945.00	 
	Total:	 	 	 	 	 	$	151,650.59	 
	Grand Total:	 	 	 	 	 	$	473,429.09	 

 

    	13Exhibit
10.3

 

SECURED
PROMISSORY NOTE AND SECURITY AGREEMENT CANCELLATION AGREEMENT

 

THIS
SECURED PROMISSORY NOTE AND SECURITY AGREEMENT CANCELLATION AGREEMENT (the “Agreement”) is entered into as of June
30, 2022 (the “Effective Date”) by and between Bitech Technologies Corp., a Delaware corporation (formerly, Spine
Injury Solutions, Inc.) (“Bitech”), Quad Video Halo, Inc., a Texas Corporation (“Quad”), Quad Video
Holdings Corporation (“Quad Holdings”) and Peter L. Dalrymple (“Dalrymple”). Bitech, Quad and Dalrymple
are collectively referred to as the “Parties” and individually as a “Party”.

 

W
I T N E S S E T H:

 

WHEREAS,
Quad, Quad Video Holdings Corporation and Dalrymple are parties to an Asset Purchase Agreement dated as of the date hereof (the “Purchase
Agreement”);

 

WHEREAS,
Bitech and Quad are Parties to that Secured Promissory Note issued by Bitech to Dalrymple dated August 31, 2020, as amended on October
29, 2021 and on March 31, 2022, and which has been assigned by Dalrymple to Quad as of Effective Date (collectively, the “Note”);

 

WHEREAS,
Bitech, Quad and Dalrymple are Parties to that certain Security Agreement dated August 31, 2020, as amended on March 31, 2022 (collectively,
the “Security Agreement”);

 

WHEREAS,
Dalrymple assigned the Note to Quad Holdings pursuant to a Note Assignment Agreement entered into among Dalrymple, Quad and Quad Holdings
(the “Note Assignment Agreement”); and

 

WHEREAS,
the Parties have agreed to cancel the Note and the Security Agreement in accordance with the terms and conditions set forth herein and
as provided for in the Purchase Agreement.

 

NOW,
THEREFORE, for good and valuable consideration of TEN ($10.00) DOLLARS in hand paid by each Party to the other, and other mutual covenants
and agreements set forth herein (the receipt and sufficiency of which are hereby acknowledged), the Parties hereby agree as follows:

 

	 	1.	Confirmations.
    The foregoing recitals are true and correct and are incorporated herein by reference.
	 	 	 
	 	2.	Definitions.
    All capitalized terms not defined herein shall have the meaning ascribed to them in the Purchase Agreement, the Note or the Security
    Agreement.
	 	 	 
	 	3.	Termination
    Date. The Note, including the entire outstanding principal balance and any accrued and unpaid interest thereon as of the Effective
    date along with the Security Agreement are hereby cancelled in all respects and the Note and all accrued and unpaid interest thereon
    shall be deemed paid in full as of the Effective Date (“Termination Date”).

 

    	 

     

    

 

	 	4.	Representation
    of the Parties. Each Party represents that it has not made any assignment, transfer, conveyance, or other disposition of the
    Note or the Security Agreement nor any interest in the Note or Security Agreement, or any claim, demand, obligation, liability, action,
    or cause of action arising from the Note or the Security Agreement except as provided for in the Note Assignment Agreement. Each
    of the Parties hereto hereby represents that it has in itself an absolute right, power and authority to enter into this Agreement
    for the termination of the Note and the Security Agreement as of the Termination Date and there are no consents which are necessary
    for this Agreement to be executed, delivered, performed and enforced in accordance with its terms.
	 	 	 
	 	5.	Attorneys’
    Fees. If either Party commences an action against the other Party arising out of, or in connection with this Agreement, the prevailing
    Party shall be entitled to recover from the losing Party reasonable attorneys’ fees and costs at the pre-trial, trial and appellate
    levels.
	 	 	 
	 	6.	Further
    Assurances. Each Party agrees to cooperate with the other and to execute and deliver, at its sole expense, all such further instruments
    and documents and do all such further acts and things as such Party may be reasonably requested to do from time to time by the other
    Party, to carry out the provisions and objectives of this Agreement.
	 	 	 
	 	7.	Successors
    and Assigns. This Agreement shall enure to the benefit of and be binding upon the Parties hereto and their respective heirs,
    executors, administrators, successors and assigns.
	 	 	 
	 	8.	Entire
    Understanding. This Agreement constitutes the entire understanding and agreement of the Parties with respect to the cancellation
    of the Note and termination of the Security Agreement described herein.
	 	 	 
	 	9.	Counterparts.
    Counterparts, each of which when so executed sand delivered shall be an original, but all such counterparts shall together constitute
    but one and the same instrument.

 

    	2

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	Bitech
    Technologies Corp.	 	 	 
	 	 	 	 	 
	By:	/s/
    Benjamin Tran	 	/s/
    Peter L. Dalrymple
	Name:	Benjamin
    Tran	 	Peter
    L. Dalrymple
	Title:	 Chief
    Executive Officer	 	 	 
	 	 	 	 	 
	Quad Video Halo, Inc.,	 	Quad
    Video Holdings Corporation
	 	 	 	 	 
	By:	/s/
    Benjamin Tran	 	By:	/s/
    Bryan C. Becker
	Name:	Benjamin
Tran	 	Name:	Bryan
C. Becker
	Title:	President	 	Title:	Chief
Executive Officer

 

    	3

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