Document:

Blueprint

 EXHIBIT 10.2

 

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY SECTION 3(b) OF THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE "1933 ACT)

 

 

  US $110,000.00

 

FRIENDABLE, INC

8% CONVERTIBLE REDEEMABLE NOTE

DUE AUGUST 4, 2017

 

 

FOR VALUE RECEIVED, Friendable, Inc. (the “Company”) promises to pay to the order of the COVENTRY ENTERPRISES, LLC and its authorized successors and permitted assigns ("Holder"), the aggregate principal face amount of One Hundred Ten Thousand dollars exactly (U.S. $110,000.00) on August 4, 2017 ("Maturity
Date") and to pay interest on the principal amount outstanding hereunder at the rate of 8% per annum commencing on August 4, 2016. The interest will be paid to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note. The principal of, and interest on, this Note are payable at 80 S.W. 8th Street, Suite 2000, Miami, FL 33130, initially, and if changed, last appearing on the records
of the Company as designated in writing by the Holder hereof from time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall constitute a payment of outstanding principal hereunder and
shall satisfy and discharge the liability for principal on this Note to the extent of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to paragraph 4(b) herein.

 

This Note is subject to the following additional provisions:

 

1.           This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except that Holder shall pay any tax or other governmental charges
payable in connection therewith.

 

2.           The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

 

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3.         This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended ("Act") and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated by the Company as void. Prior to due presentment for transfer
of this Note, the Company and any agent of the Company may treat the person in whose name this Note is duly registered on the Company's records as the owner hereof for all other purposes, whether or not this Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth in Section 4(a), and any prospective transferee
of this Note, also is required to give the Company written confirmation that this Note is being converted ("Notice of Conversion") in the form annexed hereto as Exhibit A. The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date.

 

4.           (a)           The Holder of this Note is entitled, at its option, and after full cash payment for the shares convertible hereunder, to convert all or any amount of the principal face
amount of this Note then outstanding into shares of the Company's common stock (the "Common Stock") at a price ("Conversion Price") for each share of Common Stock equal to 50% of the lowest closing bid price (with a ceiling of $0.004 per share) of the Common Stock as reported on the National Quotations Bureau OTCQB
exchange which the Company’s shares are traded or any exchange upon which the Common Stock may be traded in the future ("Exchange"), for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent (provided such
Notice of Conversion is delivered by fax or other electronic method of communication to the Company or its transfer agent after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price). If the shares have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such conversion shall be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt by the Company of the Notice of Conversion.
Accrued but unpaid interest shall be subject to conversion. No fractional shares or scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to the nearest whole share. To the extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible under law. The Company agrees to honor
all conversions submitted pending this increase. In the event the Company experiences a DTC “Chill” on its shares, the conversion price shall be decreased to 40% instead of 50% while that “Chill” is in effect. In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common
Stock of the Company. The conversion discount and lookback period will be adjusted downward (i.e. for the benefit of the Holder) if the Company offers a more favorable conversion discount (whether via interest, rate OID or otherwise) or lookback period to another party while this note is in effect and the Holder will also get the benefit of any other term (for a example a higher prepay or a lower fixed conversion price) granted to any third party while this Note is in effect.

 

 

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(b)           Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid by the Company in Common Stock ("Interest Shares"). The dollar amount converted into Interest Shares shall be all or a portion of the accrued interest calculated on the unpaid principal
balance of this Note to the date of such notice.

 

(c)           This Note may not be redeemed or prepaid.

 

(d)           Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of related transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the Common Stock, or (iii) any consolidation or merger
of the Company with or into another person or entity in which the Company is not the surviving entity (other than a merger which is effected solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as a "Sale Event"), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash for 150% of
the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder, such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e)           In case of any Sale Event in connection with which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this Note shall have the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares
of stock or other securities or property (including cash) receivable upon such reclassification, capital reorganization or other change, consolidation or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions shall similarly apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than
cash, the value shall be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

5.           No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.           The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice of dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for hereunder and shall be directly and primarily
liable for the payment of all sums owing and to be owing hereto.

 

7.           The Company agrees to pay all costs and expenses, including reasonable attorneys' fees and expenses, which may be incurred by the Holder in collecting any amount due under this Note.

 

8.           If one or more of the following described "Events of Default" shall occur:

 

 

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(a)           The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company; or

 

(b)           Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements heretofore or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or the Securities Purchase Agreement under which
this note was issued shall be false or misleading in any respect; or

 

(c)           The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation of the Company under this Note or any other note issued to the Holder; or

 

(d)          The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3) make an assignment for the benefit of creditors or commence proceedings for its dissolution; (4) apply for or consent to the appointment of a trustee, liquidator or receiver for its or for a
substantial part of its property or business; (5) file a petition for bankruptcy relief, consent to the filing of such petition or have filed against it an involuntary petition for bankruptcy relief, all under federal or state laws as applicable; or

 

(e)           A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without its consent and shall not be discharged within thirty (30) days after such appointment; or

 

(f)           Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody or control of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)          One or more money judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000) in the aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid, unvacated, unbonded or unstayed for a period of fifteen
(15) days or in any event later than five (5) days prior to the date of any proposed sale thereunder; or

 

(h)           defaulted on or breached any term of any other note of similar debt instrument into which the Company has entered and failed to cure such default within the appropriate grace period; or

 

(i)           The Company shall have its Common Stock delisted from an exchange (including the OTCBB exchange) or, if the Common Stock trades on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days;

 

(j)            If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the Board;

 

 

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(k)           The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within 3 business days of its receipt of a Notice of Conversion; or

 

(l)            The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder.

 

(m)           The Company shall not be “current” in its filings with the Securities and Exchange Commission; or

 

(n)           The Company shall lose the “bid” price for its stock in a market (including the OTCQB marketplace or other exchange).

 

Then, or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option of the Holder and in the Holder's sole discretion, the Holder may consider this Note immediately due and payable,
without presentment, demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly waived, anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately, and without expiration of any period of grace, enforce any and all of the Holder's rights and remedies provided herein or any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate
of 24% per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning on the 4th day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the 10th day. The penalty
for a breach of Section 8(n) shall be an increase of the outstanding principal amounts by 20%. In case of a breach of Section 8(i), the outstanding principal due under this Note shall increase by 50%. Further, if a breach of Section 8(m) occurs or is continuing after the 6 month anniversary of the Note, then the Holder shall be entitled to use the lowest closing bid price during the delinquency period as a base price for the conversion. For example, if the lowest closing bid price during the delinquency period
is $0.01 per share and the conversion discount is 50% the Holder may elect to convert future conversions at $0.005 per share. If this Note is not paid at maturity, the outstanding principal due under this Note shall increase by 10%.

 

If the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or
proceeding.

 

Make-Whole for Failure to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice
indicating the amounts payable to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

 

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Failure to Deliver Loss = [(High trade price at any time on or after the day of exercise) x (Number of conversion shares)]

 

The Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day from the time of the Holder’s written notice to the Company.

 

9.           In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and the validity and enforceability
of the remaining provisions of this Note will not in any way be affected or impaired thereby.

 

10.           Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the Company and the Holder.

 

11.          The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if it previously has been a “shell” issuer that at least 12 months have passed since the Company has reported form 10 type information indicating it is no longer a “shell
issuer. Further. The Company will instruct its counsel to either (i) write a 144 opinion to allow for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

12.          The Company shall issue irrevocable transfer agent instructions reserving 124,528,000 shares of its Common Stock for conversions under this Note along (the “Share Reserve”). The reserve shall be replenished as needed to allow for conversions of this Note. Upon full conversion
of this Note, any shares remaining in the Share Reserve shall be cancelled. The Company shall pay all costs associated with issuing and delivering the shares. If such amounts are to be paid by the Holder, it may deduct such amounts from the Conversion Price. Conversion Notices may be sent to the Company or its transfer agent via electric mail. The company should at all times reserve a minimum of four times the amount of shares required if the note would be fully converted.  The Holder may reasonably request
increases from time to time to reserve such amounts.

 

13.           The Company will give the Holder direct notice of any corporate actions including but not limited to name changes, stock splits, recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.

 

14.           This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder and the Company hereby mutually waive trial by
jury and consent to exclusive jurisdiction and venue in the courts of the State of New York. This Agreement may be executed in counterparts, and the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

 

 

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IN WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

 

Dated: _Aug 4, 2016______

 

 

 

	
 
	
FRIENDABLE, INC

	
 
	
  

	
 
	
  

	
 
	
  

	
 
	
 /s/ Robert Rositano

	
 
	
By: Robert A. Rositano, Jr.

	
 
	
Title: CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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EXHIBIT A

 

 

NOTICE OF CONVERSION

 

(To be Executed by the Registered Holder in order to Convert the Note)

 

The undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of Friendable, Inc. (“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes and charges payable with respect thereto.

 

Date of Conversion: _________________________________________________________________________

Applicable Conversion Price: __________________________________________________________________

Signature: _________________________________________________________________________________

[Print Name of Holder and Title of Signer]

Address: __________________________________________________________________________________

__________________________________________________________________________________

 

SSN or EIN:__________________________________

Shares are to be registered in the following name: _______________________________________________________________

 

Name: ___________________________________________________________________________________                                                                                                                                

Address: _________________________________________________________________________________

Tel: ________________________________________
Fax: ________________________________________

SSN or EIN: _________________________________       

 

Shares are to be sent or delivered to the following account:

 

Account Name: ____________________________________________________________________________

Address: __________________________________________________________________________________

 

 

 

 

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EXHIBIT 10.3

 

SIXTH AMENDMENT AND CLOSING AGREEMENT

 

This Sixth Amendment and Closing Agreement (the “Agreement”) is made and entered into as of August ___, 2016 by and among Friendable Inc. (f/k/a iHookup Social Inc.), a Nevada corporation (the “Company”) and the parties identified on the signature page hereto (each
a “Purchaser” and collectively, “Purchasers”). Capitalized terms used but not defined herein will have the meanings assigned to them in the March 8, 2016 Securities Purchase Agreement and Transaction Documents (as defined below), as amended pursuant to an Amendment and Closing Agreement dated May 17, 2016 (“Amendment Agreement”), as further amended pursuant to
a Second Amendment and Closing Agreement dated May 20, 2016 (“Second Amendment Agreement”), as further amended pursuant to a Third Amendment and Closing Agreement dated June 3, 2016 (“Third Amendment Agreement”), as further amended pursuant to a Fourth Amendment and Closing Agreement dated June 16, 2016 (“Fourth Amendment Agreement”), and as further amended pursuant
to a Fifth Amendment and Closing Agreement dated July 8, 2016 (“Fourth Amendment Agreement”).

 

WHEREAS, the Company and Purchasers identified on Schedule A entered into Securities Purchase Agreements (“March 2016 SPA”) and related Transaction Documents with respect to the Securities identified on Schedule A (“March
2016 Transaction Documents”) as amended pursuant to the Amendment Agreement and further amended pursuant to the Second Amendment Agreement and further amended pursuant to the Third Amendment Agreement and further amended pursuant to the Fourth Amendment Agreement and further amended pursuant to the Fifth Amendment Agreement; and

 

WHEREAS, the parties wish to further amend the terms of the March 2016 SPA to increase the Initial Closing Note principal amount from $691,750 to $804,500 (inclusive of Coventry Enterprises LLC’s investment of $90,000 and Note in the amount of $5,000 issued to Palladium Capital Advisors LLC both on March 8, 2016) and which amount also includes as follows:

 

(i)           $110,00 Note principal amount issued on the March 8, 2016 Closing to Alpha Capital Anstalt, $100,000 additional note principal amount added on May 17, 2016 (“Allonge #1”) to the Note issued to Alpha Capital Anstalt on March 8, 2016, an additional $110,000
additional note principal amount added on May 20, 2016 (“Allonge #2”) to the Note issued to Alpha Capital Anstalt on March 8, 2016, an additional $160,000 additional note principal amount added on June 3, 2016 (“Allonge #3”) to the Note issued to Alpha Capital Anstalt on March 8, 2016, an additional $50,000 additional note principal amount added on June 16, 2016 (“Allonge
#4”) to the Note issued to Alpha Capital Anstalt on March 8, 2016, an additional $50,000 additional note principal amount added on July 8, 2016 (“Allonge #5”) to the Note issued to Alpha Capital Anstalt on March 8, 2016, and an additional $110,000 note principal amount to be added to the Note issued to Alpha Capital Anstalt on March 8, 2016 in the form of Allonge #6 for an aggregate Subscription Amount by Alpha Capital Anstalt of $690,000;

 

(ii)           $5,000 Note principal amount issued on the March 8, 2016 Closing to Palladium Capital Advisors LLC, $2,500 additional note principal amount representing a portion of the Placement Agent fee issued in the form of Allonge #1 added on May 17, 2016 (“Allonge #1”),
an additional $2,750 note principal amount added on May 20, 2016 (“Allonge #2”) representing a portion of the Placement Agent fee added to the Note issued to Palladium Capital Advisors LLC on March 8, 2016, an additional $4,000 note principal amount added on June 3, 2016 (“Allonge #3”) representing a portion of the Placement Agent fee added to the Note issued to Palladium Capital Advisors LLC on March 8, 2016,
an additional $1,250 note principal amount added on June 16, 2016 (“Allonge #4”) representing a portion of the Placement Agent fee added to the Note issued to Palladium Capital Advisors LLC on March 8, 2016, an additional $1,250 note principal amount added on July 8, 2016 (“Allonge #5”) representing a portion of the Placement Agent fee added to the Note issued to Palladium Capital Advisors LLC on March 8, 2016,
and an additional $2,750 note principal amount representing a portion of the Placement Agent fee to be added to the Note issued to Palladium Capital Advisors LLC on March 8, 2016 in the form of Allonge #6 (as further described in Paragraph 6 below) as part of the Initial Closing for an aggregate Subscription Amount by Palladium Capital Advisors LLC of $19,500.

 

 

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The additional note principal amounts of $110,000 and $2,750 are the “Sixth Additional Subscription Amount”, and which Subscription Amount shall be included as part of the Offering.

 

NOW THEREFORE, in consideration of promises and mutual covenants contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby consent and agree as follows:

 

1.          The Purchasers and Palladium Capital Advisors LLC each consent and agree to the amendment of the terms of the Offering and upon the closing of the Sixth Additional Subscription Amount to include such Sixth Additional Subscription Amount as part of the Initial Closing of the Offering (“Sixth
Additional Initial Closing Date”).

 

2.           The Company represents that except as updated and modified on the Sixth Additional Initial Closing Date Schedules annexed hereto, the Schedules provided with the March 2016 SPA are and will be true and accurate on the Sixth Additional Initial Closing Date.

 

3.           Except as specifically described in this Agreement, all of the Company’s representations and warranties contained in the March 2016 Transaction Documents are and will be true and accurate as of the Sixth Additional Initial Closing Date.

 

4.           Except for items affected merely by the passage of time, all of the Purchasers’ representations and warranties contained in the March 2016 Transaction Documents are true and accurate as of the Sixth Additional Initial Closing Date.

 

5.           The parties agree to amend Schedule A to the March 2016 Transaction Documents Escrow Agreement to include the Sixth Additional Subscription Amount therein.

 

6.           In connection with the Sixth Additional Initial Closing, Palladium Capital Advisors LLC agrees to take its compensation of 7.5% as follows: 5% in cash ($5,500) and 2.5% ($2,750) in the form of Allonge #6 to the Note issued to Palladium Capital Advisors LLC on March 8, 2016 which will be used as payment
of Palladium Capital Advisors LLC’s Subscription Amount per Schedule 3.1(s) of the March 2016 SPA (which was identical to the Purchaser’s Note). The foregoing notwithstanding, Palladium Capital Advisors LLC hereby agrees to waive all of the Warrants issuable to Palladium Capital Advisors LLC in connection with this Sixth Additional Initial Closing.

 

7.           Annexed hereto as Exhibit C is the form of Sixth Additional Initial Closing Escrow Agreement to be executed by the parties in connection with the Sixth Additional Initial Closing.

 

8.           On or before the Sixth Additional Initial Closing Date, the Company undertakes to deliver a bring down legal opinion with an amended schedule to the legal opinion provided to Purchasers on March 8, 2016 to include the Sixth Additional Subscription Amount therein and to deliver to the Escrow Agent original
Allonges and Warrants for the Sixth Additional Subscription Amount.

 

9.           In connection with the Sixth Additional Initial Closing, the Company agrees to pay Grushko & Mittman, P.C. a legal fee of $2,500.

 

10.          Except as specifically described herein, there is no other waiver expressed or implied.

 

 

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11.          In this Agreement words importing the singular number include the plural and vice versa; words importing the masculine gender include the feminine and neutral genders. The word “person” includes an individual, body corporate, partnership, trustee or trust or unincorporated association executor, administrator
or legal representative.

 

12.           The invalidity or unenforceability of any provision hereof will in no way affect the validity or enforceability of any other provision.

 

13.         All notices, demands, requests, consents, approvals, and other communications required or permitted in connection with this Agreement shall be made and given in the same manner set forth in Section 5.4 of the March 2016 SPA.

 

14.           This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of laws and principles that would result in the application of the substantive laws of another jurisdiction. Any action brought by either party against the other concerning
the transactions contemplated by this Agreement shall be brought only in the state courts of New York in the federal courts located in the state of New York. Both parties and the individuals executing this Agreement and other agreements on behalf of the parties agree to submit to the jurisdiction of such courts and waive trial by jury. The prevailing party (which shall be the party which receives an award most closely resembling the remedy or action sought) shall be entitled to recover from the other party its
reasonable attorney’s fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of
any other provision of any agreement.

 

15.         The division of this Agreement into articles, sections, subsections and paragraphs and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this agreement.

 

16.         This Agreement may be executed in counterparts, all of which when taken together shall be considered one and the same Agreement and shall become effective when the counterparts have been signed by each party and delivered to the other party, it is being understood that all parties need not sign the same counterpart.
In the event that any signature is delivered by facsimile or PDF transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original thereof.

 

(Signatures to follow)

 

 

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IN WITNESS WHEREOF, the Company and the undersigned Purchasers have caused this Agreement to be executed as of the date first written above.

 

 

	
  
	
 
FRIENDABLE, INC.
the “Company”  

	
  

	
  
	
 
	
  

	
  
	
 
	
  

	
  
	
  
	
  
	
  

	
 
	
By:   
	/s/ Robert Rositano

	
  

	
  
	
  
	
Name: Robert A. Rositano, Jr.

	
  

	
  
	
  
	
Title:  CEO
	
  

 

 

	
  
	
 
ALPHA CAPITAL ANSTALT

the “Purchaser”

	
  

	
  
	
 
	
  

	
  
	
 
	
  

	
  
	
  
	
  
	
  

	
 
	
By:   
	
/s/ Konrad Ackermann 

	
  

	
  
	
  
	
Name: Konrad Ackermann
	
  

	
  
	
  
	
Title: Director

	
  

  

 

 

	
  
	
 
COVENTRY ENTERPRISES LLC

the “Purchaser”

	
  

	
  
	
 
	
  

	
  
	
 
	
  

	
  
	
  
	
  
	
  

	
 
	
By:   
	
/s/ Sol Eisenberg 

	
  

	
  
	
  
	
Name: Sol Eisenberg 
	
  

	
  
	
  
	
Title: ---
	
  

	
  
	
 
  

  

	
  

	
  
	
 
PALLADIUM CAPITAL ADVISORS LLC

the “Placement Agent”

	
  

	
  
	
 
	
  

	
  
	
  
	
  
	
  

	
 
	
By:   
	
/s/ Joel Padowitz 

	
  

	
  
	
  
	
Name: Joel Padowitz
	
  

	
  
	
  
	
Title: ---

	
  

 

 

 

 

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SCHEDULE A

 

MARCH 2016 CLOSING

 

	
PURCHASERS
	
PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$110,000.00
	
44,000,000

	
COVENTRY ENTERPRISES LLC

80 S.W. 8th Street, #2000

Miami, FL 33130
	
$90,000.00
	
36,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $5,000.00 *
	
2,000,000

	
TOTAL
	
$205,000.00
	
82,000,000

 

* A Note in the amount of $5,000 and corresponding Warrants as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of a portion of its placement agent fee.

 

AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
ADDITIONAL SUBSCRIPTION AMOUNT
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$100,000.00
	
40,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $2,500.00*
	
1,000,000

	
TOTAL
	
$107,500.00
	
41,000,000

 

* A Note in the amount of $2,500 and corresponding Warrants as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of its placement agent fee.

 

 

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SECOND AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
ADDITIONAL SUBSCRIPTION AMOUNT
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$110,000.00
	
44,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $2,750.00*
	
1,100,000

	
TOTAL
	
$112,750.00
	
45,100,000

 

* A Note in the amount of $2,750 and corresponding Warrants as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of its placement agent fee.

 

THIRD AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$160,000.00
	
64,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $4,000.00 *
	
See note below.

	
TOTAL
	
$164,000.00
	
64,000,000

 

* A Note in the amount of $4,000 as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of a portion of its placement agent fee. Palladium Capital Advisors LLC has waived the requirement for the Company to deliver the corresponding Warrants in connection with this Closing.

 

 

 

6

 

 

FOURTH AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$50,000.00
	
20,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $1,250.00 *
	
See note below.

	
TOTAL
	
$51,250.00
	
20,000,000

 

* A Note in the amount of $1,250 as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of a portion of its placement agent fee. Palladium Capital Advisors LLC has waived the requirement for the Company to deliver the corresponding Warrants in connection with this Closing.

 

 

FIFTH AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$50,000.00
	
20,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $1,250.00 *
	
See note below.

	
TOTAL
	
$51,250.00
	
20,000,000

 

* A Note in the amount of $1,250 as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of a portion of its placement agent fee. Palladium Capital Advisors LLC has waived the requirement for the Company to deliver the corresponding Warrants in connection with this Closing.

 

 

7

 

 

SIXTH AMENDMENT AND CLOSING AGREEMENT

 

	
PURCHASERS
	
ADDITIONAL SUBSCRIPTION AMOUNT
	
WARRANTS

	
ALPHA CAPITAL ANSTALT

Lettstrasse 32

9490 Vaduz, Liechtenstein

Attn: Konrad Ackermann, Director

Fax: 011-423-2323196
	
$110,000.00
	
44,000,000

	
PALLADIUM CAPITAL ADVISORS, LLC

230 Park Avenue, Suite 539

New York, NY 10169

Fax:

Taxpayer ID#:
	
Partial Placement Agent Fee in the amount of $2,750.00*
	
See note below

	
TOTAL
	
$112,750.00
	
44,000,000

 

* A Note in the amount of $2,750 as described in Section 2 of the Securities Purchase Agreement will be issued to Palladium Capital Advisors LLC in lieu of a corresponding cash amount of a portion of its placement agent fee. Palladium Capital Advisors LLC has waived the requirement for the Company to deliver the corresponding Warrants in connection with this Closing.

 

 

 

 

 

 

 

 

 

 

 

 

 

8

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