Document:

Exhibit 10.20

 

 

FIRST AMENDMENT TO LOAN AGREEMENT

 

THIS
FIRST AMENDMENT TO LOAN AGREEMENT (this “Amendment”) to that certain Loan Agreement dated August 22, 2018 (the
“Loan Agreement”) is made and entered into as of the date last written below (the “Effective Date”),
by and among Athena Bitcoin, Inc., a Delaware corporation (“Borrower”) and Michael Komaransky, an individual (“Lender”).
Athena Bitcoin Global (f/k/a GamePlan, Inc.), a Nevada corporation (“Parent”), the parent company of Borrower, hereby
joins this Amendment as a party added to the Loan Agreement by virtue hereof. Borrower, Lender and Parent are sometimes hereinafter referred
to individually as a “Party” and, collectively, as the “Parties.” Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the Loan Agreement.

 

RECITALS

 

WHEREAS, as of immediately
prior to the Effective Date and pursuant to Section 6.1 of the Loan Agreement, the Loan Agreement may be amended pursuant to a signed
writing from the Lender, and the Parties desire to amend the Loan Agreement as set forth in this Amendment.

 

NOW THEREFORE, in consideration
of the foregoing premises and the mutual covenants and conditions set forth below, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

 

1.                 
Amendments to Loan Agreement. The Loan Agreement is hereby amended as follows:

 

A.                
Preamble. The preamble to the Loan Agreement is amended and replaced in its entirety to read as follows:

 

“THIS LOAN AGREEMENT
(this “Agreement”), dated as of August 22, 2018 (the “Effective Date”), as amended in accordance
with its provisions, is entered into between Mike Komaransky, an individual (the “Lender”), on the one hand, and, on
the other hand, Athena Bitcoin Global, a Nevada corporation (“Parent”) and its subsidiary Athena Bitcoin, Inc., a Delaware
corporation (“Subsidiary”, together with Parent and each of their successors and assigns, the “Company”).
The Lender and the Company are sometimes referred to herein collectively as the “Parties” and each individually as
a “Party”. For clarification, the Parties intend that each of Parent and Company shall be jointly and severally liable
as borrowers under this Agreement, the Note and that certain Security Agreement made and entered into concurrently with that certain First
Amendment to this Agreement as dated therein, and that all references herein and therein to Company shall mean to include a reference
to both Parent and Subsidiary.”

 

B.                 
Section 1 (Definitions).

 

(i)                
The definition of “Loan Maturity Date” in Section 1.1 of the Loan Agreement is hereby amended and replaced in its entirety
to read as follows: “Loan Maturity Date means May 31, 2022.”

 

(ii)              
The following definition is added to Section 1.1: “Security Agreement means that certain Security Agreement attached
to this Agreement as Exhibit D to be entered into the by the Parties as of the same date as that certain First Amendment to Loan Agreement
dated as therein.” The Parties agree that the form of Security Agreement attached to this Amendment as Appendix 1 shall be inserted
into the Loan Agreement as and be Exhibit D to the Loan Agreement.

 

 

 

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C.                 
Section 2 (The Loans).

 

(i)                
Section 2.3 of the Loan Agreement is hereby amended and replaced in its entirety to read as follows: “Mandatory Payment
of the Loans”. The Company shall make weekly payments (due by 5:00 p.m. U.S. Central Time on Friday of each calendar week) in
the amount equal to US$35,000, payable in bitcoin (and not in any other fiat- or crypto-currency) at the published exchange rate at 9:00
a.m. Central Time on such Friday), to be applied by the Lender toward the then unpaid principal balance of the Loan. The Company will
repay all of the unpaid principal balance of the Loan and all interest and fees accrued and unpaid thereon on the Loan Maturity Date,
unless accelerated pursuant to Section 2.5.

 

(ii)              
A new Section 2.6 of the Loan Agreement is hereby added to read as follows:

 

“Grant
of Security Interest. To secure the prompt payment of the Company’s obligations and the prompt, full and faithful performance
by the Company of all of the provisions to be kept, observed or performed by the Company under this Loan Agreement, the Note and/or the
other documents, the Company does hereby GRANT, ASSIGN AND TRANSFER to the Lender a first priority security interest in and to, and a
lien on, all property, wherever located, whether real or personal, now owned or existing or at any time hereafter arising or acquired
by (or on behalf of) the Company or in which the Company now has, or at any time in the future may acquire, any right, title or interest
(all of the foregoing, individually and collectively, the “Collateral”), including without limitation the property
set forth in Exhibit A to the Security Agreement, as may be applicable, except such Collateral shall exclude any and all property
described as Collateral in that certain Security Agreement dated as of May 30, 2017, by and between Athena Bitcoin, Inc. and Consolidated
Trading Futures, LLC (“CTF”) until the repayment by Athena Bitcoin of the outstanding debt and obligations to CTF under
the CTF Security Agreement.”

 

(iii)            
A new Section 2.7 of the Loan Agreement is hereby added to read as follows:

 

“Conversion
of the Note. At the first time and on the first date after June 30, 2021 that the published exchange rate of bitcoin for US dollars
is equal to or exceeds a ratio of 1 bitcoin:US$75,000 (the “Conversion Ratio Trigger”), the outstanding principal amount
of the Note due and owing to the Lender at such time, including accrued interest, if any, shall be automatically converted to US dollars
calculated at the applicable Conversion Trigger Ratio (an “Exchange-based Conversion Event”). Upon an Exchange-based
Conversion Event, and within five (5) days thereof, Company shall issue in the favor of the Lender a replacement (secured) promissory
note reflecting the outstanding principal and interest amount due as of the date of the Exchange-based Conversion Event and containing
substantially similar terms as the Note with no material modification thereto, and upon receipt thereof from Company, the Lender shall
immediately acknowledge in writing the cancellation of the Note and surrender any original copies thereof in its possession (the “Note
Exchange”). The Parties agree that any Note Exchange which occurs pursuant to this Section 2.7 shall be self-executing and shall
not require any further amendments to this Agreement or the Security Agreement, and that the Lender shall thereafter be entitled to amend
any filings made by it to continue to perfect its security interests in Company’s collateral as pledged under the Security Agreement,
as required by applicable law.”

 

2.                 
Reaffirmation. Company (a) affirms all of its obligations under the Loan Agreement and (b) agrees that
this Amendment and all documents, agreements and instruments executed in connection herewith do not operate to reduce or discharge the
Company’s obligations thereunder.

 

3.                 
No Other Amendment; Recitals. Except as modified by this Amendment, the Loan Agreement shall remain in
full force and effect in all respects without any modification. This Amendment shall be effective as to the Loan Agreement as of the Effective
Date. The preamble and recitals hereof are fully incorporated into this Amendment.

 

4.                 
Governing Law. This Amendment shall be governed by and construed under the laws of the State of Illinois,
without regard conflict of laws principles that would result in the application of any law other than those of the State of Illinois.

 

5.                 
Counterparts. This Amendment may be signed in two or more counterparts, each of which shall be an original,
and all of which shall be deemed one instrument, and counterparts may be delivered via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

[Signature
Page Follows]

 

 

 

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[SIGNATURE PAGE TO FIRST AMENDMENT
TO LOAN AGREEMENT]

 

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

 

 

	 	COMPANY
	 	 	 
	 	 	PARENT
	 	 	 
	 	 	ATHENA BITCOIN GLOBAL
	 	 	 
	 	 	 
	 	 	By:                                                                                    
	 	 	Name: Eric Gravengaard
	 	 	Title: CEO
	 	 	Date: _______________________________
	 	 	 
	 	 	BORROWER
	 	 	 
	 	 	ATHENA BITCOIN GLOBAL
	 	 	 
	 	 	By:                                                                                    
	 	 	Name: Eric Gravengaard
	 	 	Title: CEO
	 	 	Date: _______________________________
	 	 	 
	 	 	 
	 	LENDER
	 	 	 
	 	 	 
	 	By:                                                                                    
	 	 	Name: Mike Komaransky
	 	 	Date: __________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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APPENDIX 1

 

Security Agreement

 

(see attached)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	4Exhibit 10.21

 

FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT

 

THIS
FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT (this “Amendment”) to that certain Securities Purchase Agreement
dated January 31, 2020 (the “Purchase Agreement”) is made and entered into as of the date last written below (the “Effective
Date”), by and among Athena Bitcoin Global (f/k/a GamePlan, Inc.), a Nevada corporation (“Company”), and
KGPLA Holdings, LLC, a Delaware limited liability company (“Lead Investor”) on behalf of itself and other investors
(collectively, the “Investors”). Company and the Investors are sometimes hereinafter referred to individually as a
“Party” and, collectively, as the “Parties.” Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to them in the Purchase Agreement.

 

RECITALS

 

WHEREAS, as of immediately
prior to the Effective Date and pursuant to Section 9.10(a) of the Purchase Agreement, the Parties may amend the Purchase Agreement in
a signed writing Investors holding at least a majority of the aggregate principal amount of all Convertible Debentures (which is held
by Lead Investor), plus the affirmative written consent of Lead Investor, and the Parties desire to enter into this Amendment to amend
certain terms of the Purchase Agreement, subject to Section 9.10(b).

 

NOW THEREFORE, in consideration
of the foregoing premises and the mutual covenants and conditions set forth below, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

 

1.                 
Amendments to Purchase Agreement. The Purchase Agreement is hereby amended as follows:

 

A.                
Definitions in the Purchase Agreement. The following definitions as set forth in Article I (Definitions) of the Purchase
Agreement are amended and replaced in their entirety to read as follows:

 

“Conversion
Price” means $0.012 per share of the Issuer’s Common Stock, or the price calculated as
follows, whichever results in the lower price:

 

		(i)	with respect to a conversion pursuant to Section 2.01(c)(i)(1) (i.e., a Next Equity Financing conversion),
the lesser of: (A) the product of (x) 100% less the Discount and (y) the lowest per share purchase price of the Equity Securities
issued in the Next Equity Financing; and (B) the quotient resulting from dividing (x) the Valuation Cap by (y) the Fully Diluted Capitalization
immediately prior to the closing of the Next Equity Financing;

 

		(ii)	with respect to a conversion pursuant to Section 2.01(c)(i)(2) (i.e., an IPO conversion), the lesser of:
(A) the product of (x) 100% less the Discount and (y) the lowest per share purchase price of the Equity Securities issued as part
of the IPO; and (B) ninety percent (90%) of the quotient resulting from dividing (x) the Valuation Cap by (y) the Fully Diluted Capitalization
immediately prior to the closing date of the Next Equity Financing;

 

		(iii)	with respect to a conversion pursuant to Section 2.01(c)(i)(3) (i.e., a Corporate Transaction conversion),
if a conversion is elected by Investor, the quotient resulting from dividing (x) the Valuation Cap by (y) the Fully Diluted Capitalization
immediately prior to the closing date of the Next Equity Financing;

 

		(iv)	with respect to a conversion pursuant to Section 2.01(c)(ii)(1) (i.e., an optional Maturity Date
conversion) or Section 2.01(c)(ii)(2) (i.e., an optional conversion at any time), the quotient resulting from dividing (x) the
Valuation Cap by (y) the Fully Diluted Capitalization immediately prior to the closing date of the Next Equity Financing.

 

 

 

    	 	1	 

     

    

 

“Fully Diluted
Capitalization” means the number of issued and outstanding shares of the Issuer’s capital stock immediately prior to
the closing date of the Issuer’s Next Equity Financing, assuming: (i) the conversion or exercise of all of the Issuer’s
outstanding convertible or exercisable securities, including shares of convertible preferred stock and all outstanding vested or unvested
options or warrants to purchase the Issuer’s capital stock; and (ii) the issuance of all shares of the Issuer’s capital stock
reserved and available for future issuance under any of the Issuer’s existing equity incentive plans or any equity incentive plan
created or expanded in connection with the Next Equity Financing. Notwithstanding the foregoing, "Fully Diluted Capitalization"
excludes: (y) (1) any convertible promissory notes, debentures or bonds issued by the Issuer and/or the Company, separately or combined
together in one or more transactions, with an aggregate face value of $500,000.00 or less, and (2) the Convertible Debentures contemplated
to be sold by the Issuer under this Agreement; and (z) any SAFEs or SAFTs issued by the Issuer, separately or combined together in one
or more transactions, with an aggregate face value of $500,000.00 or less.

 

“Next Equity
Financing” means the next sale (or series of related sales on substantially the same terms) by the Issuer of additional Equity
Securities following the Agreement Date under an exemption from registration available under the rules promulgated under the Securities
Act, from which the Company receives gross proceeds of not less than US$3,000,000.00 (excluding, for the avoidance of doubt, the aggregate
principal amount of the Convertible Debentures); provided that, for clarification, this is not meant to include any actions or listing
for trading on the OTC Markets.

 

B.                 
Mandatory Conversion. The first sentence of Section 2(c)(i)(1) (Mandatory Conversion upon Next Equity Financing) of the
Purchase Agreement is amended and replaced in its entirety to read as follows: “The principal balance and any unpaid accrued interest
(if such interest is not paid in full by the Issuer concurrently with the conversion) on each Convertible Debenture of each Investor shall
be converted into Conversion Securities upon the closing of the Next Equity Financing upon; provided, however, that no such Mandatory
Conversion shall apply to the Lead Investor automatically and shall only apply to the Lead Investor upon its express written consent thereto
upon receiving notice of such option from the Issuer at least five (5) days prior to the closing of the Next Equity Financing as contemplated
hereunder.”

 

C.                 
Prepayment of Convertible Debenture(s). Section 2.01(c)(v) is hereby amended and replaced in its entirety to read as follows:
“(v) Prepayment of Convertible Debenture(s). The principal amount of Convertible Debenture(s) and any accrued and unpaid
interest thereon, may be prepaid by the Issuer at any time without any penalty.”

 

2.                 
Reaffirmation. Company (a) affirms all of its obligations under the Purchase Agreement and all Convertible
Debentures issued thereunder and (b) agrees that this Amendment and all documents, agreements and instruments executed in connection herewith
do not operate to reduce or discharge the Company’s obligations thereunder.

 

3.                 
No Other Amendment; Recitals. Except as modified by this Amendment, the Purchase Agreement shall remain
in full force and effect in all respects without any modification. This Amendment shall be effective as to the Purchase Agreement as of
the Effective Date. The preamble and recitals hereof are fully incorporated into this Amendment.

 

4.                 
Governing Law. This Amendment shall be governed by and construed under the laws of the State of Delaware,
without regard conflict of laws principles that would result in the application of any law other than those of the State of Delaware.

 

5.                 
Counterparts. This Amendment may be signed in two or more counterparts, each of which shall be an original,
and all of which shall be deemed one instrument, and counterparts may be delivered via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

[Signature
Page Follows]

 

 

 

    	 	2	 

     

    

 

[SIGNATURE PAGE TO FIRST AMENDMENT
TO PURCHASE AGREEMENT]

 

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

 

	 	 	COMPANY
	 	 	 
	 	 	ATHENA BITCOIN GLOBAL
	 	 	 
	 	 	 
	 	 	By:                                                                                    
	 	 	Name: Eric Gravengaard
	 	 	Title: CEO
	 	 	Date: _______________________________
	 	 	 
	 	 	LEAD INVESTOR
	 	 	 
	 	 	KGPLA HOLDINGS, LLC
	 	 	 
	 	 	By:                                                                                    
	 	 	Name: Mike Komaransky
	 	 	Title: Authorized Person
	 	 	Date: _______________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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