Document:

Exhibit 10.51

 

EXCHANGE AGREEMENT

 

THIS AGREEMENT,
dated the Effective Date below is entered MICROCAP EQUITY GROUP, LLC, a Florida limited liability company (“Microcap”)
and the undersigned trading company ("Company").

 

WITNESSETH:

 

WHEREAS, Microcap
holds a certain securities debt instrument(s) of the Company, in the original principal amount below, which was issued to an original
security holder, creditor of the Company, on May 4, 2016 as described on the signature page hereto and/or EXHIBIT A hereto (the
“ Debt”); and

 

WHEREAS, Microcap
is willing to exchange the Debt for a convertible debenture of the Company in the form attached hereto (the “Debenture”)
in order to reflect the conversion right which would otherwise be afforded the original holder which is now being reflected in
the Debenture

 

NOW, THEREFORE,
in consideration for the foregoing, the parties hereto agree as follows:

 

		1.	Microcap and the Company hereby agree to exchange the debt instruments for the Debenture. Thus,
concurrently with the execution of this Agreement, Microcap surrenders hereby its interest in the Debt strictly for the conversion
and related rights and Microcap will endeavor to use best efforts to deliver to the Company any promissory notes, commercial paper,
or other evidences of the Debt and the Company shall execute and deliver to Microcap an original, executed Debenture to reflect
the conversion rights.

 

		2.	Microcap represents and warrants to, and covenants and agrees with, the Company as follows:

 

		a.	Microcap believes it is not an affiliate, now or by way of the Debenture, and relies upon the Company
knowledge of the members of the Board, officers and shareholdings in such regard.

 

		b.	Microcap is (i) an "accredited investor" as that term is defined in Rule 501 of the General
Rules and Regulations under the Securities Act of 1933, as amended, the "Act" by reason of Rule 501 and (ii) able, by
reason of the business and financial experience of its officers (if an entity) and professional advisors (who are not affiliated
with or compensated in any way by the Company or any of its affiliates or selling agents), to protect its own interests in connection
with the transactions described in this Agreement, and the related documents

 

    	 	1	 

     

    

 

		3.	This Agreement shall be governed by and interpreted in accordance with the laws of the State of
Florida without reference to conflict of laws principles A facsimile transmission of this signed Agreement shall be legal and binding
on all parties hereto. This Agreement may be signed in one or more counterparts, each of which shall be deemed an original. The
headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.
If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement or the validity or enforceability of this Agreement
in any other jurisdiction. This Agreement may be amended only by an instrument in writing signed by the party to be charged with
enforcement. This Agreement, and the Debenture attached hereto, contains the entire agreement of the parties with respect to the
subject matter hereto, superseding all prior agreements, understandings or discussions except for the statements made by the Company
in joining the Assignment and Assumption Agreement of on or about this date relating to the Debt.

 

The Company and Microcap
have caused this Agreement to be executed by their duly authorized representatives on the date as first written above.

 

Effective Date: May 4,
2016

Name
of Original Debt Holder: Syndication Capital LLC

Amount of Debt being Exchanged
(Principal + Interest): $22,177.32

Amount of Debenture: $22,177.32

Name of Trading Company:
Simlatus Corporation

State of Incorporation of Trading Company: Nevada

 

Company: Simlatus
Corporation

 

 

By:  /s/ Gary B. Tilden

Name:

Title:

 

MICROCAP EQUITY
GROUP, LLC

 

 

By:____________________

Name: Ibrahim
Almagarby

Title: Manager

 

 

    	 	2Exhibit 10.52

 

V2IP INC

ASSIGNMENT OF DEBT AGREEMENT

 

THIS ASSIGNMENT OF DEBT
AGREEMENT DATED May 13, 2016

 

BY AND AMONG:

 

V2IP Inc, a corporation organized
under the laws of Delaware, with an office located at 245 Main St, Suite 390, White Plains, NY 10601 (the “ASSIGNEE”);

 

Direct Capital Group, (the “ASSIGNOR”).
1155 Camino Del Mar, Del Mar, CA, 92014

 

AND:

Simlatus Corporation, a corporation
organized under the laws of Nevada, USA, with an office located at: 175 Joerschke Drive, Suite A, Grass Valley, CA, 95945 (the
“DEBTOR”).

 

WHEREAS:

A.          The Assignor is currently the beneficial
owner of $320,035.00 of debt as of April 12, 2016) of the Debtor (the “Debt”), evidenced by a note held by Assignor
(the “Note”), a copy of which is attached hereto as Exhibit A.

 

B.          The Assignor wishes to sell, grant,
assign, and transfer $20,000.00 of the Debt (the “Assigned Debt”) to Assignee, and Assignee wishes to purchase the
Assigned Debt upon the terms and conditions set forth in this agreement (the “Agreement”).

 

NOW, THEREFORE, THIS AGREEMENT WITNESSES that
in consideration of the premises and the mutual promises, covenants, conditions, representations and warranties hereinafter contained,
the parties to this agreement (the “Parties”), intending to be legally bound, agree as follows:

 

1.            
Sale and Transfer of the Assigned Debt. Upon the execution of this Agreement (the “Closing”) and subject
to the terms and conditions of this Agreement, the Assignor shall sell, grant, assign, convey and deliver to the Assignee, and
the Assignee shall purchase and accept from the Assignor, the Assigned Debt, including all right and obligations thereunder, for
the purchase price specified in Section 2 below. The Assigned Debt shall be subject to the terms of the Note, except such terms
that are amended by this Agreement. Payment for the debt shall be received by the assignor from
the assignee by wire transfer of immediately available funds in an amount as set forth in this agreement, upon assignee’s
confirmation of the clearance of the converted shares in DTC.

 

2.            
Purchase Price. In exchange for the Debt, the Assignee shall pay $20,000.00 cash to the Assignor by wire transfer.

 

3.            
Delivery of Note. At the Closing, the Assignor shall deliver to the Assignee one or more notes representing the Assigned
Debt.

 

    	 	1	 

     

    

 

4.            
Representations, Warranties And Covenants Of The Assignor

 

 4.1          The Assignor represents, warrants and covenants to the Assignee that:

 

(a)          Authority. The Assignor has all necessary power and
authority to execute, deliver and perform this Agreement and to consummate the transactions provided for herein. This Agreement
has been duly authorized, executed and delivered by the Assignor and constitutes a valid and binding obligation of the Assignor
enforceable in accordance with its terms. The execution, delivery and performance of this Agreement by the Assignor does not and
will not violate any provision of any law, regulation or order, or conflict with or result in the breach of, or constitute a default
under, any material agreement or instrument to which the Sellers are a party or by which the Sellers may be bound or affected.

 

(b)          Title. The Assignor has good and marketable title
to the Convertible Debt free and clear of all liens and encumbrances, and has the ability to freely transfer the Assigned Debt.

 

(c)          Non-Affiliate Status. The Assignor is not now nor
has ever been an affiliate of the Company or its predecessor(s); as such term is defined in the Securities Act of 1933, as amended
(the “Securities Act”).

 

(d)          Duly Endorsed. Assignor hereby represents and warrants
to the Assignee that certificates representing the Assigned Debt will be duly endorsed upon their transfer to the Assignee.

 

(e)          No Prepayment. The Assigned Debt has not been prepaid
in full or in part, and the full amount of the Assigned Debt is due and owing by the Debtor to the Assignor. The Debtor has been
given notice of this Assignment by the Assignor.

 

4.2          The representations, warranties and covenants contained in Section 4.1 are provided for the exclusive benefit of the Assignee and
a breach of any one or more thereof may be waived by the Assignee in whole or in part at any time without prejudice to its rights
in respect to any other breach of the same or any other representation or warranty or covenant. Any representations, warranties
and covenants contained in Article 4 will survive the signing of this Agreement.

 

5.          Right to Convert Debt. The Debtor and the Assignee agree that at the Assignee’s option, the Acquired Debt, or any
portion thereof, may be converted into shares of common stock of the Debtor (the “Shares”) in the amount of $20,000.00
at the fixed share price of $0.00005 per Share for the 1st conversion dated May13, 2016 as this is 50% discount the
lowest closing price of the 10 days prior to lowest closing price. Any additional conversion will be calculated at a discount of
50% of the lowest closing price for a 10 day look back prior to the date of the conversion. Any Shares acquired by Assignee through
the conversion of the Acquired Debt may only be resold by Assignee in compliance with the Securities Act of 1933, pursuant to a
registration statement or an exemption from registration under the Securities Act of 1933. At no time will assignee convert any
amount of the acquired debt into common stock that would result in the assignee owning more than 4.99% of the debtor’s common
stock outstanding.

 

    	 	2	 

     

    

 

6.          Consent of Debtor.

 

6.1          The Debtor agrees and consents to the assignment of the Acquired Debtor to the Assignee by the Assignor, and the possible conversion,
at the Assignee’s option, of the Acquired Debt or portion thereof.

 

6.2          The Debtor represents, warrants and covenants to the Assignee that:

 

(a)          The full amount of the Debt is due and owing at the time of this Agreement, and

 

(b)          The Debt has not been prepaid in full or in part.

 

6.3          The Debtor agrees and acknowledges and that the Assignee is entitled to make demand for payment or conversion pursuant to the terms
of the Note and this Agreement at any time for full or partial payment of the full amount of the Acquired Debt.

 

7.          Authorizations. Each of the Parties represent and warrant that each has the proper authorization and power to enter into
this agreement and effect the actions required therein, including, but not limited to, necessary board resolutions or other approvals,
as required.

 

8.          Entire Agreement. This Agreement constitutes the complete understanding between the Parties with respect to the subject
matter hereof, and no alteration, amendment or modification of any of the terms and provisions hereof shall be valid unless made
pursuant to an instrument in writing signed by each party.

 

9.          Fees and Costs. The Parties shall each bear their own fees and costs incurred in connection with this Agreement.

 

10.          Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs,
personal representatives, executors, successors and assigns.

 

11.          Governing Law. This Agreement has been made in and shall be construed and enforced in accordance with the laws of the State
of Delaware.

 

12.          Survival of Representations and Warranties. All representations and warranties made by the Sellers and the Buyer shall survive
the Closing.

 

13.          Jurisdiction and Venue. Any claim or controversy arising out of or relating to the interpretation, application or enforcement
of any provision of this Agreement, shall be submitted for resolution to a court of competent jurisdiction in New York. The parties
hereby consent to personal jurisdiction and venue in New York.

 

14.          Construction and Severability. In the event any provision in this Agreement shall, for any reason, be held to be invalid
or unenforceable, this Agreement shall be construed as though it did not contain such invalid or unenforceable provision, and the
rights and obligations of the parties hereto shall continue in full force and effect and shall be construed and enforced in accordance
with the remaining provisions hereof.

 

    	 	3	 

     

    

 

15.          Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. A signed copy of this Agreement delivered by facsimile, email
or other means of electronic transmission shall be deemed to have the same legal effect as an original signed copy of this Agreement.

 

16.          Paragraph Headings. The paragraph headings contained in this Agreement are for convenience only and shall not affect in
any manner the meaning or interpretation of this Agreement.

 

17.        
Rule of Construction Relating to Ambiguities. All Parties acknowledge that they have each carefully read and reviewed this
Agreement with their respective counsel and/or other representative, and therefore, agree that the rule of construction that ambiguities
shall be construed against the drafter of the document shall not be applicable.

 

18.        
Deposit and Clearance: If the assignee is unable to deposit and clear the shares of the company for any reason, the assignee
may return any shares for cancellation to the transfer agent and (a) cancel the transaction and not make payments to the assignor
or (b) demand the return of any payments advanced by the assignee to the assignor.

 

 

 

[The Remainder of this page intentionally
left blank]

 

    	 	4	 

     

    

 

[Signature Page to Assignment of Debt Agreement]

 

 

 

 

IN WITNESS WHEREOF this agreement was signed
by the parties hereto as of the day and year first above written.

 

 

 

 

ASSIGNEE:

 

V2IP Inc

 

 

By:_____________________________________

      Name: Dawn Bronson

      Title: CEO

 

ASSIGNOR:

 

 

 

/s/ Jon Fullenkamp

Direct Capital Group

 

 

By:_____________________________________

      Name: Jon Fullenkamp

      Title: President

 

 

DEBTOR:

 

Simlatus Corporation

 

By: /s/ Gary B. Tilden

      Name: Gary B. Tilden

      Title: President and CEO

 

    	 	5	 

     

    

 

Exhibit A

 

Simlatus Corporation Note held by Direct Capital
Group

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	6	 

     

    

 

NON-AFFILIATE LETTER

 

 

 

 

May 13, 2016

 

 

 

 

		RE:	Simlatus Corporation ( “ Company”) and V2IP Inc (“Assignee”)

 

To Whom It May Concern:

 

This letter is to confirm to you that V2IP
Inc is not now and has not been during the preceding 90 days, an officer, director, 4.99% or more shareholder of the Company, or
in any other way an “affiliate” of the Company (as that term is defined in Rule 144(a)(l) of the Securities Act of
1933). This representation includes any conversion or exchange rights to equity in the Company, if any, that I may own or did own
during the preceding 90 days, and that the exercise of same, will not cause me to become an “affiliate” of the Company.

 

Sincerely,

 

V2IP Inc

 

 

_________________________________

Name: Dawn Bronson

Title: CEO

 

    	 	7	 

     

    

NON-AFFILIATE LETTER 

 

 

 

May 13, 2016

 

 

 

 

RE: Simlatus Corporation ( “ Company”) and Direct
Capital Group (“Assignor”)

 

To Whom It May Concern:

 

This letter is to confirm to you that Direct
Capital Group is not now and has not been during the preceding 90 days, an officer, director, 4.99% or more shareholder of the
Company, or in any other way an “affiliate” of the Company (as that term is defined in Rule 144(a)(l) of the Securities
Act of 1933). This representation includes any conversion or exchange rights to equity in the Company, if any, that I may own or
did own during the preceding 90 days, and that the exercise of same, will not cause me to become an “affiliate” of
the Company. If the Assignor is a corporate entity, the foregoing is also true and correct for all officers and owners of the corporate
entity.

 

 

Direct Capital Group

 

 

 

By: /s/ Jon Fullenkamp

       Name:

       Title:

 

    	 	8	 

     

    

DISBURSEMENT REQUEST

 

Direct Capital Group and V2IP Inc
hereby request disbursement of funds in the amount and manner described below.

 

	Please disburse to:	Direct Capital Group
	Amount to disburse:	$20,000.00
	Form of distribution:	Wire
	 	 
	**Please Insert Wire Instructions Here**
	 	 
	Bank Name:	First Republic Bank
	Bank Address:	1110 Camino Del Mar, Del Mar CA 92014
	ABA:	321081669
	Account #:	80000374679
	Account Holder Name:	Direct Capital Group Inc.
	Account Holder Address:	1155 Camino Del Mar, Del Mar CA 92014

 

 

 

 

Direct Capital Group

 

 

 

By: /s/ Jon Fullenkamp

       Name:
Jon Fullenkamp

       Title: President

 

 

V2IP Inc

 

 

By: ____________________

       Name: Dawn Bronson

       Title: CEO

 

    	 	9	 

     

    

 

DEBT ACKNOWLEDGEMENT CERTIFICATION

 

May 13, 2016

 

 

With respect to the October 1, 2013 note attached
hereto as Exhibit A (the “Note”), the undersigned Executive Officer of Simlatus Corporation, familiar with the financial
records of said company, hereby certifies and acknowledges under pain of perjury that the present balance owed to Direct Capital
Group (Creditor), by Simlatus Corporation is in the amount of $320,035.00 (Note balance) as of April 12, 2016). The remaining balance
after the May 13, 2016 assignment of $20,000.00 will be $300,035.00 and that said debt has been owed for more than 6 months.

 

 

 

 

 

 

 

DEBTOR

 

Simlatus Corporation

 

 

By: /s/ Gary B. Tilden

Name: Gary B. Tilden

Title: President and CEO

 

    	 	10	 

     

    

 

NOTICE TO DEBTOR OF ASSIGNMENT OF DEBT

 

 

 

May 13, 2016

 

To:     Simlatus
Corporation

 

Re:     Transfer of debt owned by Direct Capital
Group

 

You are hereby notified that on the date hereof,
Direct Capital Group (creditor/assignor) sold and transferred to the undersigned all rights to $20,000.00 of the October
1, 2013 note attached hereto as Exhibit A (the “Note”). The Note currently has an outstanding balance of $320,035.00
Principal as of April 12, 2016). The remaining balance of debt in the Company held by Direct Capital Group after the aforementioned
assignment of $20,000.00 will be $300,035.00.

 

 

 

 

ASSIGNEE:

 

V2IP Inc

 

 

By: ____________________

       Name: Dawn Bronson

       Title: CEO

 

    	 	11	 

     

    

 

ISSUER CERTIFICATION OF CONSIDERATION 

 

 

May 13, 2016

 

 

There has been no consideration received by
Simlatus Corporation within the past 6 months in connection with the October 1, 2013 promissory note to Direct Capital Group. Further,
there has been no new consideration received by Simlatus Corporation when the portion assigned to V2IP Inc on May 13, 2016 became
convertible into Simlatus Corporation common stock.

 

 

 

 

 

 

Simlatus Corporation

 

 

By: /s/ Gary B. Tilden

Name: Gary B. Tilden

Title: President and CEO

 

    	 	12	 

     

    

 

Simlatus Corporation

 

Non-Shell Certification

 

May 13, 2016

 

The undersigned, being
the President and CEO of Simlatus Corporation (the “Company”), on behalf of the Company and with the aim of securing
a legal opinion (“Opinion”) for the Shareholder regarding, inter alia, its status as not being a “shell company”
hereby certify that the Company has had continuing operations from the original date of incorporation to the present and that it
is not now and has never been a “shell company’ within the definition of the term “shell company” as promulgated
by the Securities and Exchange Commission. We further understand and acknowledge that it is impossible for an independent third
party to make an independent inquiry of the Company’s ongoing status as certified in this certificate. As such, we authorize
V2IP Inc and each of its owners, employees, agents and affiliates to rely exclusively on the foregoing representation for the purpose
entering into this transaction. Further, on behalf of the Company and its officers and directors, we hereby agree to indemnify
and hold V2IP Inc and each of its owners, employees, agents and affiliates harmless from and against any and all claims, costs,
expenses, losses or liabilities resulting from any action or threatened action arising from reliance on the herein representation.

 

 

 

By: /s/ Gary B. Tilden

       Name: Gary B. Tilden

       Title: President and CEO

 

    	 	13	 

     

    

 

CONVERSION NOTICE

 

 

The undersigned hereby elects to convert
the attached Convertible Note into free trading shares of common stock (the “Common Stock”), of Simlatus
Corporation (the “Company”) according to the conditions hereof, as of the date written
below. No fee will be charged to the holder for any conversion, except for such transfer taxes, if any.

 

Conversion request:

 

       May
13, 2016                                      

Date to Effect Conversion

 

      200,000,000                                           

Number of FREE-trading shares
of Common Stock to be Issued

 

$10,000.00______________________

Amount Converted

 

0.00005_______ _____________

Applicable Conversion Price

 

$10,000_____ ____________

Principal Amount Remaining

 

 

 

EIN# of V2IP Inc: 26-4471256

 

WE HEREIN CERTIFY that V2IP Inc does not
and will not own more than 4.99% or more of the Company’s Common Stock after the above conversion.

 

V2IP Inc

 

 

By:____________________________

       Dawn Bronson

 

Certificate can be registered to:

 

V2IP Inc

Mailing Instructions:

 

245 Main Street

Suite 390

White Plains, NY 10601

 

    	 	14	 

     

    

 

Seller’s Representation Letter

 

 

In connection with my order to sell or transfer
200,000,000 shares of common stock (the “Stock”) of Simlatus Corporation (the “Company”), in reliance
upon the provisions of SEC Rule 144 promulgated under Securities Act of 1933, as amended, I advise you as follows:

 

1.          Neither the undersigned, nor any person
or entity listed below, presently is, or in the prior three months has been, an “Affiliate: of the Company as that term is
used in paragraph (a) of Rule 144 (i.e., a person or entity that directly, or indirectly through one or more intermediaries, controls
or is controlled by, or is under common control with, the Company):

 

a.          Any relative of mine
who shares the same home with me;

 

b.          Any trust or estate
in which I or any person specified in (a) collectively own 4.99% or more of the beneficial interest or of which I or any such person
serves as trustee, executor or in any similar capacity;

 

c.          Any corporation or
organizations in which I or any person specified in (a) are the beneficial owners collectively of 4.99% or more of any class of
equity securities or 4.99% or more of the equity interest.

 

2.          a.          The stock has been owned and fully
paid for by the undersigned in excess of 6 months; or

 

b.          if gifted to or
inherited by the undersigned, was owned and fully paid by the donor or decedent more than 6 months prior to the date of this letter;

 

c.          if the stock was
issued as a result of a conversion of debt of the issuer, the debt was initially issued or incurred by the Company in excess of
6 months from the date hereof.

 

3.          The undersigned is not a promoter, an
affiliate nor a transferee of a promoter or an affiliate, of the Issuer.

 

4.          The undersigned consents to V2IP Inc
communicating and conferring with the Company, its attorneys and its transfer agent in connection with the above order and hereby
confirms that such parties may rely on these representations in permitting transfer of the Stock free of restrictive legend.

 

 

 

By:____________________________

       Dawn Bronson

       V2IP Inc 

       May
13, 2016

 

    	 	15

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