Document:

Exhibit 10.33

 

 

CONSENT ACTION OF THE BOARD OF DIRECTORS OF ELECTROMEDICAL TECHNOLOGIES,
INC. The undersigned, Matthew N. Wolfson, being the sole director of Electromedical Technologies, Inc., a Delaware corporation,
("the Company"), hereby unanimously consents to the following actions taken by the Company on June 28, 2019. RESOLVED:
To amend the Company's Consulting Agreement dated February 11, 2019 by and between the Company and Robert L. Hymers, III to provide
for the issuance of an additional 43,461 shares of the Company restricted common stock valued at $0.71 per share. RESOLVED: That
Pacific Stock Transfer is hereby instructed to issue 43,461 shares of the Company's restricted common stock to Robert L. Hymers,
III. There being no further business requiring board action or consideration, on motion duly made, and carried, the meeting was
adjourned. Matthew N. Wolfson Sole DirectorExhibit 10.35

 

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (this “Agreement”), dated as of June 4, 2020, is entered into by and between ELECTROMEDICAL
TECHNOLOGIES, INC., a Delaware corporation,
(the “Company”), and VISTA CAPITAL INVESTMENTS,
LLC (the “Buyer”).

 

A.            The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”).

 

B.            Upon
the terms and conditions stated in this Agreement, the Buyer desires to purchase and the Company desires to issue and sell, upon
the terms and conditions set forth in this Agreement (i)  a Promissory Note of the Company, in the form attached hereto as
Exhibit  A, in the original principal amount of $110,000.00 (together with any note(s)  issued in replacement
thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”),
(ii)  one hundred thousand (100,000) restricted common shares in the Company (“Commitment Shares”) to be
delivered to Holder, via overnight courier , within 5 busine ss days following the Closing Date, and (iii) a three -year share
purchas e warrant entitling the Buyer to acquire 250,000 com mon shares (“Common Stock” ), in the form attached
her eto as Exhibit B (the “Warrant”) (together, the “Securities”).

 

NOW
THEREFORE, the Company and the Buyer hereby agree as follows:

 

1.            Purchase
and Sale. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company (i) the Note in the original principal amount of $110,000, and (ii) the Commitment Shares.

 

1.1.            Form of
Payment. On the Closing Date, (i) the Buyer shall pay the purchase price of $100,000 (the “Purchase Price”)
for the Securities to be issued and sold to it at the Closing (as defined below) by wire transfer of immediately available funds
to a company account designated by the Company, in accordance with the Company’s written wiring instructions, against delivery
of the Securities, and (ii) the Company shall deliver such duly executed Securities on behalf of the Company, to the Buyer,
against delivery of such Purchase Price.

 

1.2.            Closing
Date. The date and time of the issuance and sale of the Securities pursuant to this Agreement (the “Closing Date”)
shall be on or about June 4, 2020, or such other mutually agreed upon time. The closing of the transactions contemplated by
this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

1.3.            Commitment
Share True-Up. If, during the period beginning on the Closing Date and ending on the later of (i) the Maturity Date,
or (ii) the date on which the Note is fully satisfied and cancelled (the “True-Up Period”), the then the
greater of (i) $0.25 and (ii) the lowest traded price (as reported by Quotestream TM, a service of
Quotemedia, Inc.) of the Company’s common stock (the “Common Stock”) for any Trading Day within the
True-Up Period (the “Subsequent Share Price”), as reported on the Company’s Principal Market, is less than
the closing price of the Company’s common stock on the Issuance Date, then the Company shall, within three
(3) trading days of Holder’s provision of written notice in the form attached hereto as Exhibit C (the
 “True-Up Notice”), issue and deliver to the Holder an additional number of duly and validly issued, fully paid
and non-assessable shares of Common Stock equal to (X) the quotient of the Commitment Value (as defined below) divided
by the Subsequent Share Price, multiplied by 1.5, less (Y) the Commitment Shares, less (Z) any True-Up Shares (as
defined below) previously issued. The “Commitment Value” shall mean the product of the Commitment Shares
multiplied by the closing price of the Company’s common stock on the Closing Date. Any additional shares of Common
Stock issuable pursuant to Section 1.d are referred to herein as “True-up Shares.” The Holder shall not
submit more than one True-Up Notice. The True-up Shares, if required to be issued pursuant to this Note, shall be issued as
provided in this Note, provided, however, that in no event shall the Holder be entitled to receive shares of common stock in
excess of the amount that would result in beneficial ownership by the Holder and its affiliates of 9.99% of the outstanding
shares of Common Stock at that time. For purposes of the proviso to the immediately preceding sentence, beneficial ownership
shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the
 “Exchange Act”), and Regulations 13D-G thereunder. Accordingly, the True-up Shares, if required to be issued
pursuant to this Note, shall be issued in accordance with the beneficial ownership limitations contained herein, and in
successive tranches (each an “Additional Tranche”) if the issuance of one tranche would result in the
Holder’s beneficial ownership of more than 9.99% of the outstanding shares of Common Stock at that time. The Company
shall issue each respective Additional Tranche of the True-up Shares, if required under this Note, within two
(2) Trading Days of the request by Holder, subject to the beneficial ownership limitations contained herein. If the
Company fails to issue the True-up Shares or any Additional Tranche within the timeframe specified in this Note, then the
amount of Additional Shares in which Holder is entitled shall automatically be multiplied by two. The Company shall at all
times reserve shares of its Common Stock for Holder in an amount equal to 300% multiplied by (X) the quotient of the
Commitment Value divided by the lowest traded price of the Common Stock during the five Trading Days immediately preceding
the respective date of calculation, multiplied by 1.5, less (Y) the Original Shares.

 

     

     

    

 

1.4.            Registration
Rights: The Company shall, within ten (10) calendar days of the effectiveness of the S-1 Registration statement initially
filed with the SEC on November 12, 2019, file a registration statement form S-1MEF with the SEC to register 500,000 (five
hundred thousand) shares in the name of the Buyer. Failure to do so will result in an Event of Default under the Note.

 

2.            Governing
Law; Miscellaneous.

 

2.1.            Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to
principles of conflicts of laws. 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 San Diego County, California or in the federal courts located in
San Diego County, California. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of
any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum
non conveniens. 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. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit,
action or proceeding in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. THE COMPANY
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

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2.2.            Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement and shall become effective when counterparts have been signed by each party and
delivered to the other party.

 

2.3.            Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of,
this Agreement.

 

2.4.            Severability.
In the event that any provision of this Agreement 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 provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

2.5.            Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company
nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement
may be waived or amended other than by an instrument in writing signed by the Buyer.

 

2.6.            Notices.
Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall be deemed effectively
given on the earliest of:

 

(a)            the
date delivered, if delivered by personal delivery as against written receipt therefor or by e-mail to an executive officer, or
by confirmed facsimile,

 

(b)            the
fifth Trading Day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or

 

(c)            the
third Trading Day after mailing by domestic or international express courier, with delivery costs and fees prepaid, in each case,
addressed to each of the other parties thereunto entitled at the following addresses (or at such other addresses as such party
may designate by ten (10) calendar days’ advance written notice similarly given to each of the other parties hereto):

 

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If to
the Company, to:

 

Electromedical
Technologies, Inc.

16561
N 92nd St., Suite 101

Scottsdale
AZ 85260

Attn:
Matthew Wolfson

Email:
ceo@electromedtech.com

 

If to
the Buyer:

 

VISTA CAPITAL INVESTMENTS, LLC

120 Birmingham Drive, Suite 230

Cardiff CA 92007

Attn: David Clark

Email: dclark@vci.us.com

 

2.7.            Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Notwithstanding anything to the contrary herein, the rights, interests or obligations of the Company hereunder may not be assigned,
by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the Buyer, which consent
may be withheld at the sole discretion of the Buyer; provided, however, that in the case of a merger, sale of substantially
all of the Company’s assets or other corporate reorganization, the Buyer shall not unreasonably withhold, condition or delay
such consent. This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Buyer
hereunder may be assigned by Buyer to a third party, including its financing sources, in whole or in part, without the need to
obtain the Company’s consent thereto.

 

2.8.            Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

2.9.            Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
Closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to
indemnify and hold harmless the Buyer and all its officers, directors, employees, attorneys, and agents for loss or damage arising
as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants
set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as
they are incurred.

 

2.10.            No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

2.11.            Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

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2.12.            Buyer’s
Rights and Remedies Cumulative. All rights, remedies, and powers conferred in this Agreement and the Transaction Documents
on the Buyer are cumulative and not exclusive of any other rights or remedies, and shall be in addition to every other right, power,
and remedy that the Buyer may have, whether specifically granted in this Agreement or any other Transaction Document, or existing
at law, in equity, or by statute; and any and all such rights and remedies may be exercised from time to time and as often and
in such order as the Buyer may deem expedient.

 

2.13.            Ownership
Limitation. If at any time after the Closing, the Buyer shall or would receive shares of Common Stock in payment of
interest or principal under Note, upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the
Buyer would, together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of
such action or receipt of additional shares of Common Stock a number of shares exceeding 4.99% of the number of shares of
Common Stock outstanding on such date (the “Maximum Percentage”), the Company shall not be obligated and
shall not issue to the Buyer shares of Common Stock which would exceed the Maximum Percentage, but only until such time as
the Maximum Percentage would no longer be exceeded by any such receipt of shares of Common Stock by the Buyer. The foregoing
limitations are enforceable, unconditional and non-waivable and shall apply to all Affiliates and assigns of the Buyer.
Additionally, for so long as the Buyer or any of its Affiliate own Securities, upon written request from the Buyer, the
Company shall post (or cause to be posted), the then-current number of issued and outstanding shares of its capital stock to
the Company’s web page located at OTCmarkets.com (or such other web page approved by the Buyer).

 

2.14.            Attorneys’
Fees and Cost of Collection. In the event of any action at law or in equity to enforce or interpret the terms of this Agreement
or any of the other Transaction Documents, the parties agree that the party who is awarded the most money shall be deemed the prevailing
party for all purposes and shall therefore be entitled to an additional award of the full amount of the attorneys’ fees and
expenses paid by such prevailing party in connection with the litigation and/or dispute without reduction or apportionment based
upon the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall restrict or impair a court’s
power to award fees and expenses for frivolous or bad faith pleading.

 

[Remainder of page intentionally
left blank; signature page to follow]

 

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SUBSCRIPTION
AMOUNT:

 

	Original Principal Amount of Note: 	$110,000.00
	Purchase Price: 	$100,000.00 

 

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

 

THE COMPANY:

 

Electromedical
Technologies, Inc.

	 	 	 
	By:		 
	 	Matthew Wolfson	 
	 	Chief Executive Officer	 

 

	THE BUYER:	 
	 	 	 
	VISTA
CAPITAL INVESTMENTS, LLC	 
	 	 	 
	By:		 
	 	David J. Clark	 
	 	Managing Member	 

 

     

     

    

 

EXHIBIT A

 

NOTE

 

     

     

    

 

EXHIBIT B

 

 WARRANT

 

 

     

     

    

 

EXHIBIT C

 

TRUE-UP NOTICE

VISTA CAPITAL INVESTORS, LLC

 

Date:                                                     

 

		[Company]	

 

		[Address]	

 

TRUE-UP NOTICE

 

The above-captioned
Holder hereby gives notice to [Company], a Nevada corporation (the “Company”), pursuant to that certain Securities
Purchase Agreement dated _______ by and between the Company and the Holder (the “Purchase Agreement”), that
the Holder elects to receive fully paid and nonassessable True-Up Shares pursuant to Section 1.3 of the Purchase Agreement.
Such True-Up Shares shall be calculated as set forth below. In the event of a conflict between this True-Up Notice and the Purchase
Agreement, the Purchase Agreement shall govern, or, in the alternative, at the election of the Holder in its sole discretion, the
Holder may provide a new form of True-Up Notice to conform to the Purchase Agreement.

 

		A.	Subsequent Share Price: ______

		B.	Commitment Value: $_______

		C.	Commitment Shares: ______ *

		D.	Commitment Shares ______

	 	E.	Previously Issued True-Up Shares _______

 

The number of True-Up Shares
Holder is entitled to receive is calculated as follows:

 

((Commitment Value / Subsequent
Share Price) x 1.5) – (Commitment Shares) – (Previously Issued True-Up Shares) = True-Up Shares Deliverable

 

* Subject to adjustments permitted
by the Transaction Documents.

 

Please transfer the Additional Origination Shares electronically
(via DWAC) to the following account:

 

	 	 	Broker:	 
	 	 	Address:	 
	 	 	 	 
	 	 	DTC#:	 

 

Account #:

Account Name:

 

	To the extent the Additional Origination Shares are not able to be delivered to the Holder
    electronically via the DWAC system, please deliver a certificate representing all such shares to the Holder via reputable overnight courier after receipt of this True-Up Notice (by facsimile transmission
or otherwise) to:

 

_____________________________________

_____________________________________

_____________________________________

 

	Sincerely,	 
	 	 
	VISTA CAPITAL INVESTMENTS,
    LLC	 
	 	 
	By: 	 	 
	 	David J. Clark, President	 
	 	 

    7

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