Document:

Exhibit 10.6

 

Debt/Equity Conversion Agreement

 

THIS AGREEMENT, dated as of January 9 2019, between mPhase
Technologies, Inc. , a New Jersey corporation, having an address at 688 New Dorp Lane, Staten Island, New York 10306-4933 ( “Debtor”)
and the following persons (each individually a “Lender” and collectively, the “Lenders”) having the following
addresses:

 

		1.	Eagle Strategic Advisers LLC at 5624 17th Avenue, Brooklyn, New York 10204

 

		2.	Martin Smiley at 12 Sycamore Drive, Westport Connecticut 06880

 

		3.	Ronald Durando at 43 Alexander Avenue, Nutley, New Jersey 07110

 

		4.	Gustave Dotoli at 245 Rutgers Place, Nutley, New Jersey 07110

 

		5.	Edward Suozzo at 688 New Dorp Lane, Staten Island, New York 10306-4933

 

WHEREAS, Debtor owes each of the respective Lenders the
following monies (“Indebtedness”) in connection with Loans and Unpaid Compensation as set forth in Schedule A hereto
that is convertible into common stock of Debtor at $.00005 per share;

 

WHEREAS, Lenders desire to convert all or a portion of
the Indebtedness set forth in Schedule B into common stock of the Company at $.00005 per share;

 

NOW, THEREFORE, in consideration of the mutual premises
set forth herein, the parties hereto agree as follows:

 

		1.	Lenders each agree to convert their portion of the Indebtedness into common stock of the Company at a price of $.00005 per
share.

 

		2.	Debtor agrees to accept such conversion and issue shares of common stock to each Lender to satisfy such Indebtedness.

 

		3.	This Agreement can be executed in counter-part signature pages.

 

		4.	This Agreement shall be governed by the laws of the State of New Jersey and may only be modified by a written agreement signed
by each of the parties hereto.

 

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the date first-above written.

 

	s/s Ronald Durando	 
	mPhase Technologies, Inc.	 
	Ronald A. Durando	 
	President and CEO	 
	 	 
	s/s Martin Smiley	 
	Martin Smiley	 
	 	 
	s/s Ronald Durando	 
	Ronald Durando (individual capacity)	 
	 	 
	s/s Gustatve Dotoli	 
	Gustave Dotoli	 
	 	 
	s/s Abraham Biderman	 
	Abraham Biderman	 
	 	 
	s/s Edward Suozzo	 
	Edward Suozzo	 

 

     

     

    

 

Schedule A

 

	 	 	Amount	 	 	Amount @75%	 	 	Shares of Common	 
	Name	 	 Owed	 	 	Converted	 	 	Stock	 
	 	 	 	 	 	 	 	 	 	 
	Eagle Strategic Advisers LLC	 	$	5,825	 	 	$	4,369	 	 	 	87,375,000	 
	Ronald Durando	 	$	117,538	 	 	$	88,153	 	 	 	1,763,063,000	 
	Gustave Dotoli	 	$	16,695	 	 	$	12,521	 	 	 	250,425,000	 
	Martin Smiley	 	$	37,289	 	 	$	27,967	 	 	 	559,337,000	 
	Sub-total Officers’ & Director	 	$	    	 	 	$	133,010	 	 	 	2,660,200,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Edward Suozzo	 	$	20,400	 	 	$	15,300	 	 	 	306,000,000Exhibit 10.7

 

	Mr. Anshu Bhatnagar	January 11, 2019

Chief Executive Officer

mPhase Technologies, Inc.

 

Dear Anshu,

 

Please accept my resignation as President and Chief Executive
Officer of mPhase Technologies Inc. effective midnight January 11, 2019

 

I have enjoyed being an Officer of the Company. I wish you the
best of luck in taking mPhase forward to greater heights.

  

Regards,

 

/s/ Ronald Durando

  

Ronald A. Durando

 

     

     

    

 

	Mr. Anshu Bhatnagar	January 11, 2019

Chief Executive Officer

mPhase Technologies, Inc.

 

Dear Anshu,

 

Please accept my resignation as Chief Operating Officer and
as a member of the Board of Directors of mPhase Technologies Inc. effective midnight January 11, 2019.

 

I have enjoyed being an Officer of the Company and a member
of the Board of Directors. I wish you the best of luck in taking mPhase forward to greater heights.

 

Regards,

 

s/s Gustave Dotoli

  

Gustave T. Dotoli

 

     

     

    

 

	Mr. Anshu Bhatnagar	January 11, 2019

Chief Executive Officer

mPhase Technologies, Inc.

 

Dear Anshu,

 

Please accept my resignation from the Board of Directors of
mPhase Technologies Inc. effective midnight January 11, 2019. Attached is an E mail confirming this action

 

I have enjoyed being a member and leading the Board of Directors.
I wish you the best of luck in taking mPhase forward to greater heights.

  

Regards,

 

S/S Victor Lawrence

  

Victor Lawrence

 

     

     

    

 

	Mr. Anshu Bhatnagar	January 11, 2019

Chief Executive Officer

mPhase Technologies, Inc.

 

Dear Anshu,

 

Please accept my resignation from the Board of Directors of
mPhase Technologies Inc. effective midnight January 11,2019.

 

I have enjoyed being a member and leading the Board of Directors.
I wish you the best of luck in taking mPhase forward to greater heights.

 

Regards,

 

s/s Abraham Biderman

 

Abraham Biderman

 

     

     

    

 

	Mr. Anshu Bhatnagar	January 11, 2019

Chief Executive Officer

mPhase Technologies, Inc.

 

Dear Anshu,

 

Please accept my resignation as a Director and Executive Vice
President, Chief Financial Officer and General Counsel of mPhase Technologies Inc. effective midnight January 11, 2019.

 

I have enjoyed being a Director and Officer of the Company.
I wish you the best of luck in taking mPhase forward to greater heights.

 

Regards,

 

s/s Martin Smiley

 

Martin Smileyex-10.53

 

 LOAN AGREEMENT
 September 13, 2018
 

 Tradex Capital Corp., (the “Lender”) of 1177 W. Hastings Street, Suite 1920, Vancouver, BC V6E 2K3, advanced CAD$31,200 (the “Principal Sum”) to Cell MedX Corp. (the “Borrower”) of 123 W. Nye Ln, Suite 446, Carson City, NV 89706. The Lender advanced the funds on September 13, 2018.
 

 The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 6% per year (the “Interest”) from September 13, 2018. The Borrower is liable for repayment of the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
 

 The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
 

 	 	 	
	 LENDER
	  
	 BORROWER

	 Tradex Capital Corp.
	  
	 Cell MedX Corp.

	  
	  
	  

	 Per:
	  
	 Per:

	  
	  
	  

	  
	  
	  

	 /s/ William Friesen
	  
	 /s/ Yanika Silina

	 Authorized Signatory
	  
	 Yanika Silina, CFO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

 PROMISSORY NOTE
 

 	 	
	 Principal Amount:  CAD$31,200
	 September 13, 2018

 

 

 FOR VALUE RECEIVED Cell MedX Corp., (the “Borrower”) promises to pay on demand to the order of Tradex Capital Corp. (the “Lender”) the sum of $31,200 lawful money of Canada (the “Principal Sum”) together with interest on the Principal Sum from September 13, 2018 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.
 

 For the purposes of this promissory note, Interest Rate means 6 per cent per year. Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 6.2% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.
 

 The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.
 

 The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note.
 

 

 BORROWER
 Cell MedX Corp.
 

 Per:
 

 

 /s/ Yanika Silina
 Yanika Silina, CFOEXHIBIT
10.1

 

SEVENTH
AMENDMENT TO LOAN AGREEMENT

 

THIS
SEVENTH AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is made as of December 28, 2018 (the “Effective
Date”) among INTERNATIONAL BANK OF COMMERCE, an Oklahoma state banking corporation, successor in interest to
International Bank of Commerce, a Texas state banking association (“Lender”), GREYSTONE LOGISTICS, INC.,
an Oklahoma corporation, GREYSTONE MANUFACTURING, L.L.C., an Oklahoma limited liability company (together, the “Borrowers”),
and the undersigned Guarantor(s), and ratifies and amends (a) the Loan Agreement (Revolving Loan and Equipment Term Loan) dated
as of January 31, 2014, as previously amended six times, most recently by the Sixth Amendment to Loan Agreement dated as of August
8, 2018 among Borrowers and Lender (as so amended, the “Loan Agreement”), and (b) the other Loan Documents,
as and to the extent described below.

 

Borrowers,
Guarantor(s) and Lender agree as follows:

 

1.
Definitions. Capitalized terms used but not defined in this Amendment have the meanings given to them in the Loan Agreement.

 

2.
Amendments. Borrowers have requested, and Lender has agreed, to increase the amount of the Revolving Loan and to modify
the Borrowing Base, as and to the extent provided in this Amendment. Accordingly, the Loan Agreement is amended as follows

 

(a)
The following existing definitions in Section 1.1 of the Loan Agreement are amended and restated in their entirety as follows:

 

“Borrowing
Base” means the sum of (a) 80% of the balance due on Eligible Receivables, and (b) the lesser of (i) 50% of the value
of Eligible Inventory, and (ii) $2,000,000. The balance due on Eligible Receivables shall not include the amount of any counterclaims
or offsets that have been or may be asserted against one or more Borrowers by the account debtor (including offsets for any “contra
accounts” owed by any Borrower to the account debtor for goods purchased by any Borrower or for services performed for any
Borrower) or to the extent any counterclaims, offsets or contra accounts exist in favor of the account debtor, such amounts shall
be deducted from the account balance. The account balance shall exclude the amount of any finance or service charges payable by
the account debtor.

 

“Revolving
Note” means the Promissory Note dated as of January 10, 2019 made by Borrowers in favor of Lender in the maximum principal
amount of $4,000,000, as amended, modified, replaced, restated, extended or renewed from time to time.

 

    	 

     

    

 

(b)
Section 2.1(b) of the Loan Agreement is amended and restated in its entirety as follows:

 

(b)
The amount of the Revolving Loan (the “Revolving Commitment”) is up to $4,000,000.00. The Borrowers agree not
to permit the principal balance of cash advances under the Revolving Loan to exceed the lesser of (i) the Revolving Commitment,
and (ii) the Borrowing Base. If the Borrowers at any time exceed either of these limits, the Borrowers will immediately pay the
excess to the Lender. For the avoidance of doubt, immediately after giving effect to the Fifth Amendment, the entire amount of
the Revolving Commitment is available to be advanced under the Revolving Loan (subject to the Borrowing Base and the other terms
and conditions of the Loan Documents).

 

3.
Effect of this Amendment. Except as expressly provided above, this Amendment is not a waiver of, amendment to, consent
to or modification of (a) any term or provision of any of the Loan Documents, or (b) any event, condition, or transaction on the
part of any Person.

 

4.
Ratification of Loan Documents. The Loan Documents remain in full force and effect as amended by this Amendment. Each Borrower
and the undersigned Guarantor (a) ratifies and confirms in all respects each Loan Document to which it is a party; (b) agrees
that each Loan Document remains in full force and effect; and (c) confirms, ratifies and agrees that, as applicable, the terms
“Obligations”, “Guaranteed Obligations”, “Secured Obligations”, “Indebtedness”
and any other similar term as used in any of the Loan Documents (including the Loan Agreement, the Security Agreement, the Mortgage,
and any Guaranty Agreement), each include all indebtedness and obligations of Borrower to Lender under the Loan Documents, including
the Loan extended by this Amendment.

 

5.
Conditions. The effectiveness of this Amendment is subject to satisfaction of the following conditions precedent, each
of which exist for Lender’s sole benefit and may be waived by Lender only (in its sole discretion):

 

(a)
Documents. Lender’s receipt of the following, each properly executed, each dated the Effective Date (or, in the case
of certificates of governmental officials, a recent date before the date of the Amendment) and each in form and substance satisfactory
to Lender and its legal counsel:

 

(i)
this Amendment;

 

(ii)
the Revolving Note;

 

(iii)
one or more certificates of resolutions or other action, incumbency certificates and/or other certificates as Lender requires
with accompanying governing documents for the Borrowers and actions and resolutions of the Borrowers in connection with this Amendment;
and

 

(iv)
all other documents and instruments requested by Lender.

 

(b)
Fees and Expenses. If required by Lender, Borrowers’ shall pay all fees and out-of-pocket expenses required under
Section 7 of this Amendment. If Lender elects, in its sole discretion, to waive collection of any fees and expenses as
a condition to the effectiveness of this Amendment, Borrowers will remain obligated to pay those fees and expenses, which are
due and payable on the Effective Date.

 

    	2

     

    

 

6.
Representations and Warranties. Each Borrower and the undersigned Guarantor represents and warrants to the Lender that
as of the date of this Amendment:

 

(a)
its representations and warranties in the Loan Documents to which it is a party are true and correct in all material respects
as though made on Effective Date, except to the extent that any of them speak to a different specific date, in which case they
are true and correct in all material respects as of the earlier date;

 

(b)
as of the Effective Date, (A) no Default or Event of Default exists, and (B) no Default or Event of Default exists under, and
as defined in, the Greystone Real Estate Loan Agreement;

 

(c)
its execution, delivery and performance of this Amendment and all other Loan Documents executed by it in connection with this
Amendment have been duly authorized by all necessary corporate or limited liability company action, as applicable, and do not
and will not contravene the terms of any of its organizational documents, any law or any indenture, loan or credit agreement,
or any other material agreement or instrument to which it is a party or by which it is bound or to which it or its properties
are subject;

 

(d)
no authorizations, approvals or consents of, and no filings or registrations with, any governmental authority or any other Person
are necessary for the execution, delivery or performance by such Borrower or Guarantor of this Amendment or the other Loan Documents
executed by it in connection with this Amendment, or for the validity or enforceability thereof; and

 

(e)
this Amendment and each other Loan Document to which it is a party constitutes such Borrower’s or Guarantor’s legal,
valid and binding obligations, enforceable against it in accordance with its terms, in all cases except as limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights
generally or by equitable principles relating to enforceability, and by judicial discretion regarding the enforcement of or any
applicable laws affecting remedies (whether considered in a court of law or a proceeding in equity).

 

7.
Fees and Expenses. In accordance with Section 10.5 of the Loan Agreement (and without in any way limiting its provisions),
Borrowers shall pay all reasonable out-of-pocket expenses incurred by the Lender, including the reasonable fees, charges and disbursements
of Lender’s counsel (determined on the basis of such counsel’s generally applicable rates) in connection with (a)
this Amendment, the preparation of this Amendment and any other Loan Documents, and any filings or other documents or instruments
required in connection with the preparation of this Amendment or the other Loan Documents, and (b) the enforcement, collection
or protection of its rights in connection with the Loan Documents, including all such out-of-pocket expenses incurred during any
workout, restructuring or negotiations in respect the Loan Documents. Expenses being reimbursed by Borrowers under this Section
include, without limitation, costs and expenses incurred in connection with appraisals, field examinations, insurance reviews,
flood determinations, lien and title searches and title insurance, and recording and filing fees or taxes.

 

8.
Events of Default Unaffected. Nothing in this Amendment is a waiver of any Default or Event of Default, or of any right
or remedy available to the Lender by reason of the occurrence or existence of any Default or Event of Default.

 

    	3

     

    

 

9.
Releases. Each Borrower and Guarantor, for itself and on behalf of all its predecessors, successors, assigns, agents, employees,
representatives, officers, directors, managers, members, shareholders, beneficiaries, trustees, administrators, subsidiaries,
Affiliates, employees, servants and attorneys (collectively the “Releasing Parties”), releases and forever
discharges Lender and its successors, assigns, partners, directors, officers, agents, attorneys, and employees from any and all
claims, demands, cross-actions, controversies, causes of action, damages, rights, liabilities and obligations, at law or in equity
whatsoever, known or unknown, now held, owned or possessed by any or all of the Releasing Parties or that any or all of the Releasing
Parties hold or claim to hold in the future as a result of any actions or inactions occurring on or before the Effective Date,
under common law or statutory right, arising directly or indirectly out of out of the Loans, any of the Loan Documents, or any
of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Each Borrower
and Guarantor understands and agrees that this is a full, final and complete release and agrees that this release may be pleaded
as an absolute and final bar to any or all suit or suits pending or that are filed or prosecuted in the future by any of the Releasing
Parties, or anyone claiming by, through or under any of the Releasing Parties, in respect of any of the matters released hereby,
and that no recovery on account of the matters described herein may hereafter be had from anyone whomsoever, and that the consideration
given for this release is not an admission of liability.

 

10.
Governing Law; Miscellaneous. This Amendment is governed by the Loan Agreement,
including the rules of construction provided in Section 1.2 and the miscellaneous provisions of Article X thereof.
Unless stated otherwise, (a) the singular number includes the plural and vice versa and words of any gender include each
other gender, in each case, as appropriate, (b) headings and captions may not be construed in interpreting provisions, and (c)
this Amendment may be executed in any number of counterparts with the same effect as if all signatories had signed the same document,
and all of those counterparts must be construed together to constitute the same document.

 

[Signature
Pages Attached]

 

    	4

     

    

 

THIS
SEVENTH AMENDMENT TO LOAN AGREEMENT is executed and delivered by the undersigned effective as of the Effective Date.

 

	 	“BORROWERS”
	 	 
	 	GREYSTONE LOGISTICS, INC., an Oklahoma corporation
	 	 
	 	By:	/s/
    Warren F. Kruger
	 	 	Warren
    F. Kruger, President/CEO
	 	 	 
	 	GREYSTONE MANUFACTURING, L.L.C., an Oklahoma limited liability company
	 	 
	 	By:	/s/
    Warren F. Kruger
	 	 	Warren
    F. Kruger, Manager

 

Signature
Page

Seventh
Amendment to Loan Agreement

 

    	 

     

    

 

THIS
SEVENTH AMENDMENT TO LOAN AGREEMENT is executed and delivered by the undersigned effective as of the Effective Date.

 

	 	“LENDER”
	 	 
	 	INTERNATIONAL BANK OF COMMERCE, an Oklahoma state banking corporation, successor in interest to International Bank of Commerce, a Texas state banking association
	 	 
	 	By:	/s/
    Andrew J. Levinson
	 	 	Andrew
    J. Levinson
	 	 	President
    - Tulsa Region

 

Signature
Page

Seventh
Amendment to Loan Agreement

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