Document:

Exhibit
10.20

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE 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 UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

		US $143,000.00	 

 

VERUS
INTERNATIONAL, INC.

6%
CONVERTIBLE REDEEMABLE NOTE

DUE
APRIL 15, 2022

 

FOR
VALUE RECEIVED, VERUS INTERNATIONAL, INC. (the “Company”) promises to pay to the order of [___] and its authorized successors
and permitted assigns (“Holder”), the aggregate principal face amount of One Hundred Forty Three Thousand Dollars
exactly (U.S. $143,000.00) on April 15, 2022 (“Maturity Date”) and to pay interest on the principal amount outstanding
hereunder at the rate of 6% per annum commencing on April 15, 2021 (“Issuance Date”). This Note shall contain an original
issue discount of $13,000, such that the purchase price is $130,000. 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 [___], 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 para- graph
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 ser- vice 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.

 

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 present- ment 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 an- nexed 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, at any time after the
sixth monthly anniversary of cash payment, 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 60% of the lowest closing price of the Common Stock as reported on the National
Quotations Bureau OTC Marketplace 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 fifteen prior trading days includ- ing 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 communi- cation 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 busi- ness 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 50% instead of 60% while that “Chill”
is in effect. In no event shall the Holder be allowed to effect a conversion if such conver- sion, along with all other shares of
Company Common Stock beneficially owned by the Holder and its affiliates would exceed 4.99% of the outstanding shares of the Common Stock
of the Com- pany (which may be increased up to 9.9% upon 60 days’ prior written notice by the Holder). The conversion discount and look back period will be adjusted on a ratchet basis if the Company
offers a more favorable conversion discount, interest rate, (whether through a straight discount or in com- bination with an original
issue discount), look back period or other more favorable term to another party for any financings while this Note is in effect.

 

    	2

     

    

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 6% per annum. Interest shall be paid by the Company
in Common Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company for Interest
Shares based on the formula provided in Section 4(a) above. 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)
The Notes may be prepaid or assigned with the following penalties/premiums:

 

	PREPAY
    DATE	 	PREPAY
    AMOUNT
	≤
    60 days	 	115%
    of principal plus accrued interest
	61-
    120 days	 	130%
    of principal plus accrued interest
	121-
    180 days	 	140%
    of principal plus accrued interest

 

This
Note may not be prepaid after the 180th day. Such redemption must be closed and funded within 3 days of giving notice of redemption
of the right to redeem shall be null and void. Any partial prepayments will be made in accordance with the formula set forth in the chart
above with respect to principal, premium and interest.

 

(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,
other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Com- pany 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 re- demption, 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 (not to include a sale of all or substantially all of the Company’s assets) in connection with which
this Note is not redeemed or converted, the Com- pany 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 reclassifica- tion, 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 forego- ing 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.

 

    	3

     

    

 

5.
No provision of this Note shall alter or impair the obligation of the Com- pany, 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 pay- ment, 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:

 

(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 sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the in- stance 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

 

    	4

     

    

 

(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)
The Company shall have 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 (in- cluding the OTC Market 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 or ceases to file its 1934 act
reports with the SEC;

 

(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;

 

(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 and a market (including the OTC 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 present- ment, 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 the event of a breach of Section 8(l) occurs beginning on the
160th daily anniversary of the Note, or 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 breach period as a base price for the conversion.
For example, if the lowest closing bid price during the breach 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.

 

    	5

     

    

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, in- cluding, 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:

 

Failure
to Deliver Loss = [(Highest VWAP price for the 30 trading days 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 Com- pany.

 

9.
In case any provision of this Note is held by a court of competent jurisdic- tion to be excessive in scope or otherwise invalid or unenforceable,
such provision shall be ad- justed 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 sala- bility of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

    	6

     

    

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 4,144,000 shares of its Common Stock for conversions under
this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in the Share Reserve shall be cancelled.
The Company shall pay all transfer agent costs associated with issuing and delivering the share certificates to the Holder, as well as
maintaining the Share Reserve. If such amounts are to be paid by the Holder, it may deduct such amounts from the principal amount being
converted. The com- pany 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 re- serve such amounts. The Company will instruct its transfer
agent to provide the outstanding share information to the Holder in connection with its conversions.

 

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.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the
applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest permitted under
applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage of
any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest on this Note.

 

15.
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 or in the Federal
courts sitting in the county or city of New York, or the Federal courts within the districts 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.

 

    	7

     

    

 

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

 

	Dated:	4/15/2021	 	 	 
	 	 	 	 	 
	 	 	 	VERUS
    INTERNATIONAL, INC.
	 	 	 	 	                                 
	 	 	 	By:
    	 
	 	 	 	Title:	CEO

 

    	8

     

    

 

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 VERUS INTERNATIONAL,
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:
_____________________________________________________________

 

    	9Exhibit 4.1

 

	
    NUMBER

     

    GDSTU
	 	UNITS

 

GOLDENSTONE ACQUISITION LIMITED

 

	
    SEE REVERSE FOR

CERTAIN DEFINITIONS
	 	CUSIP 38136Y 201

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK,
ONE REDEEMABLE WARRANT, AND

ONE RIGHT TO RECEIVE ONE-TENTH OF ONE SHARE OF COMMON STOCK

 

THIS CERTIFIES THAT _________________________________________________________________________
is the owner of _________________________________________________________________________ Units.

 

Each Unit (“Unit”)
consists of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of Goldenstone Acquisition
Limited, a Delaware corporation (the “Company”), one redeemable warrant (the “Warrant(s)”),
and one right (the “Right(s)”). Each redeemable warrant entitles the holder thereof to purchase one-half (1/2)
of one share of Common Stock at a price of $11.50 per full share (subject to adjustment), upon the later to occur of (i) the Company’s
completion of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business
combination with one or more businesses or entities (a “Business Combination”) or (ii) 12 months from the closing
of the Company’s initial public offering. Every ten Rights entitles the holder thereof to receive one share of Common Stock upon
the consummation of the Business Combination. The Common Stock, Warrants and Rights comprising the Units represented by this certificate
are not transferable separately prior to the 52nd day after the date of the prospectus relating to the closing of the Company’s
initial public offering (“IPO”), subject to earlier separation in the discretion of Maxim Group LLC, provided
that the Company has filed with the Securities and Exchange Commission a Current Report on Form 8-K which includes an audited balance
sheet reflecting the Company’s receipt of the gross proceeds of the IPO and issued a press release announcing when separate trading
will begin. The terms of the Warrants and Rights are governed by a warrant agreement (the “Warrants Agreement”)
and rights agreement (the “Rights Agreement”) respectively, dated as of [●], 2021, between the Company
and Continental Stock Transfer & Trust Company, as the warrant agent and rights agent, and is subject to the terms and provisions
contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. The copies of Warrant
Agreement and Rights Agreement are on file at the office of Continental Stock Transfer & Trust Company at 1 State Street, New York,
New York 10004 and is available to Warrants holder and Rights holder on written request and without cost.

 

This certificate is not valid
unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal
of the Company and the facsimile signatures of its duly authorized officers. 

 

	By	 	 	 
	 	Chairman of the Board	 	Chief Executive Officer

 

     

     

    

 

Goldenstone Acquisition Limited 

 

The Company will furnish without
charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of
such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM	—	as tenants in common	 	UNIF GIFT MIN ACT	—	 	Custodian	 
	 	 	 	 	 	 	(Cust)	 	(Minor)
	TEN ENT	—	as tenants by the entireties	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	(State)

 

Additional abbreviations may also be used though
not in the above list.

 

	For value received, ___________________________ hereby sell, assign and transfer unto

  

	PLEASE INSERT SOCIAL SECURITY OR

OTHER

IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 

 

 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 

____________________________________________________________________________ Units
represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

____________________________________________________________________________ Attorney to transfer
the said Units on the books of the within named Company will full power of substitution in the premises.

 

	Dated	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

    2

     

    

 

	Signature(s) Guaranteed:	 
	 	 
	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

The holder(s) of this certificate shall be entitled
to receive a pro-rata portion of the funds from the trust account with respect to the common stock underlying this certificate only in
the event that (i) the Company is forced to liquidate because it does not consummate an initial business combination within the period
of time set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time
(the “Charter”) or (ii) if the holder seeks to convert his shares upon consummation of, or sell his shares in a tender offer
in connection with, an initial business combination or in connection with certain amendments to the Charter. In no other circumstances
shall the holder(s) have any right or interest of any kind in or to the trust account.

 

 

3

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