Document:

EXHIBIT 10.2

                                 PROMISSORY NOTE

$500,000.00                                             Dated: February 13, 2003

     FOR VALUE RECEIVED, the undersigned, Bioral Nutrient Delivery, LLC, a
Delaware limited liability company with a place of business at 4419 West Sevilla
Street, Tampa, Florida 33629 (hereinafter the "Debtor"), promises to pay to the
order of BioDelivery Sciences International, Inc., a Delaware corporation with a
place of business at c/o UMDNJ - New Jersey Medical School, Administrative
Building 4, 185 South Orange Avenue, Newark, New Jersey 07103 (hereinafter the
"Lender"), at Lender's office, or at such other place as may be designated in
writing by the holder of this Note, the principal amount of FIVE HUNDRED
THOUSAND AND 00/100 DOLLARS ($500,000.00), in lawful money of the United States,
together with interest on the unpaid principal amount from the date hereof until
such principal amount shall be paid in full, at a rate equal to four and
eighty-five one hundredths percent (4.85%) per annum for each one (1) year
period (beginning on the date hereof) during which the principal is outstanding.

     Accrued interest and principal hereon shall be repaid to Lender solely from
funds constituting ten percent (10%) of Royalty Revenues (as defined below)
received by the Debtor, within thirty (30) days of Debtor's receipt of any such
Royalty Revenues. For purposes of this Note, the term "Royalty Revenues" means
any cash received by Debtor as royalty or similar payments from sub-licenses to
third parties of technology which Debtor has licensed from Lender. All payments
from Debtor to Lender as contemplated by this paragraph shall be applied first
to accrued interest and second to principal.

     Notwithstanding the foregoing paragraph, all principal and accrued interest
outstanding under this Note shall immediately be due and payable (i) at 5:00
p.m., New York time, on February 13, 2013 or (ii) upon a sale, in one or a
series of related transactions, of (A) all or substantially all of the assets of
Debtor or (B) more than fifty percent (50%) of the Class A Membership Shares of
Debtor (or other securities of Debtor which grant the rights to control Debtor)
to any third party.

     Debtor shall have the right, at any time and from time to time, to prepay
this Note in whole or in part without premium or penalty but including the
interest amount set forth above. Amounts prepaid shall be applied to the last
payment due under the terms of this Note and may not be re-borrowed under this
Note.

     Both principal and interest are payable in lawful money of the United
States of America to Lender. All payments made on account of the principal
amount hereof shall be recorded by Lender.

<PAGE>

     DEBTOR HEREBY WAIVES PRESENTMENT FOR PAYMENT, DEMAND, NOTICE OF DISHONOR
AND PROTEST OF THIS NOTE. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, INCLUDING MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE, WITH REGARD TO SUCH STATE'S CONFLICT OF
LAWS PRINCIPLES. NONE OF THE TERMS OR PROVISIONS OF THIS NOTE MAY BE WAIVED,
ALTERED, MODIFIED OR AMENDED EXCEPT AS LENDER MAY CONSENT THERETO IN WRITING.

     Debtor agrees to indemnify the Lender from and against any and all claims,
losses and liabilities (including reasonable attorneys' fees) growing out of or
resulting from this Note. The Debtor will, upon demand, pay to the Lender the
amount of any and all expenses, including the reasonable fees and expenses of
its counsel and of any experts and agents, which the Lender may incur in
connection with the administration of this Note, the exercise or enforcement of
any of the rights of the Lender hereunder, or the failure by the Debtor to
perform or observe any of the provisions hereof.

     Lender may assign to one or more entities all or a portion of its rights
under this Note. In the event of an assignment of all of its rights, Lender may
transfer this Note to the assignee.

     If any term or provision of this Note or the application thereof to any
person or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Note, or the application of such term or provisions to persons
or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby, and each term and provision of
this Note shall be valid and be enforced to the fullest extent permitted by law.

         Dated: February 13, 2003

                                  BIORAL NUTRIENT DELIVERY, LLC

                                  By:  /s/ Francis E. O'Donnell, Jr.
                                      ------------------------------------------
                                  Name:  Francis E. O'Donnell, Jr.
                                  Title: President and Chief Executive Officer

                                       2Exhibit 10.01

 

 

	
  Contacts:

  	
  Entrx Corporation

  
	
   

  	
  Kenneth W. Brimmer,
  Chairman

  
	
   

  	
  Wayne Mills, Chief
  Executive Officer

  
	
   

  	
  (612) 333-0614

  
	
   

  	
   

  
	
   

  	
  Zamba Corporation

  
	
   

  	
  Michael H. Carrel

  
	
   

  	
  Chief Financial Officer
  and Executive Vice President

  
	
   

  	
  (952) 844-3113

  
	
   

  	
  mcarrel@ZAMBAsolutions.com

  

 

FINAL
RELEASE

ZAMBA AND ENTRX COMPLETE FINANCING

Zamba Obtains $2.5M from Entrx and Other Sources,

Significantly Strengthens Balance Sheet, and is Positioned for
Profitability

 

 

MINNEAPOLIS
– February 26, 2003 - ZAMBA Corporation (OTC BB: ZMBA) and Entrx
Corporation (Nasdaq: ENTX) announced today that Zamba achieved the second
milestone defined in the Loan Agreement between Entrx and Zamba, dated November
5, 2002, and has received the remaining $1.5 million of the total loan of $2.5 million.  The balance of the $1.5 million was provided
in equal amounts by Entrx and another investor group introduced to Zamba by
Entrx.  The companies previously
announced on December 24, 2002, that Zamba had met the milestones for the
October 1 through November 30 time period.

 

“Over the past two quarters, we
have had two primary financial objectives,” said Michael Carrel, Chief
Financial Officer of Zamba.  “These were
to establish financial runway and position the company for profitability.  We have made a great deal of progress in
both areas.  Specifically, we have:

 

·                  Raised over $4.5 million
since July 1, 2002; 

 

·                  Negotiated our release from
substantially all of our large lease agreements, eliminating over $11 million
worth of long-term obligations.  As a
result of these agreements and other cost-reduction actions we have taken over
the past twenty-four months, our quarterly cost structure has decreased
approximately 83%, from approximately $12.9 million in the first quarter of
2001 to an estimated $2.9 million in the first quarter of 2003.  At our new cost structure, we believe that
profitability is on the horizon; and 

 

·                  Decreased our operating loss
from over $3.0 million in the second quarter of 2002 to less than $400,000 in
the fourth quarter of 2002.  

 

With this $2.5 million in financing, our improved operational results,
and our debt reduction, we have established much greater financial
stability.  This strengthening of our
balance sheet will enable us to focus even more energy and attention to our
core business – that of becoming a premier customer-care services company.”

 

1

 

Under the November 25, 2002 Loan Agreement, Entrx advanced $1,000,000
to Zamba on November 5, 2002.  Entrx was
to advance an additional $1.5 million to Zamba in two installments of $750,000
each, due on December 15, 2002 and February 15, 2003, so long as, among other
things, Zamba’s losses from operations did not exceed $515,000 for the
two-month period ending November 30, 2002 for the first installment, and
$807,000 for the four-month period ending January 31, 2003 for the second
installment.  Zamba exceeded these
expectations and reported to Entrx an unaudited net loss from operations during
those periods of $256,699 and $357,180 respectively.  

 

The loan was collateralized by 833,333 shares of Series A Preferred
Stock of NextNet Wireless, Inc. (“NextNet”) which are owned by Zamba, each
share of which is convertible into three shares of the common stock of
NextNet.  The loan was not repayable by
Zamba in cash, but if Entrx fully funded the $2.5 million on schedule, Entrx
had an option to convert the principal balance of the loan into either
ownership of 20% of the outstanding common stock of Zamba, or into 416,667
shares of the Series A Preferred Stock of NextNet at $6.00 per share ($2.00 per
equivalent common share), and an option to purchase an additional 250,000
shares of NextNet Preferred Stock at $6.00 per share.  NextNet, a privately-held Delaware corporation with offices in
Minneapolis, Minnesota, is in the business of providing broadband wireless
systems for the delivery of high-speed wireless internet access.

 

Since
the first installment of $750,000 was not paid on the December 15, 2002
scheduled due date, and $750,000 of the $1.5 million was advanced to Zamba by a
third party, Entrx and Zamba entered into an amendment to the Loan Agreement on
February 19, 2003, which provides that Entrx no longer has the option to
convert the loan into ownership of Zamba, or to acquire 250,000 shares of
NextNet Preferred Stock for $6.00 per share. 
Entrx’s only recourse is, therefore, to convert its $1,750,000 loan
balance plus accrued interest of $6,889 into 292,815 shares of NextNet
Preferred Stock or an equivalent of 878,444 shares of NextNet common stock.

 

About Entrx Corporation

Entrx Corporation (formerly Metalclad
Corporation) with offices at 800 Nicollet Mall, Suite 2690, Minneapolis,
Minnesota 55402, is primarily engaged in providing insulation services through
its California subsidiary, Metalclad Insulation Corporation.

 

About ZAMBA
Solutions

ZAMBA Solutions is a premier customer care services company.  We help our clients be more successful in:
acquiring, servicing, and retaining their customers.  Having served over 300 clients, ZAMBA is focused exclusively on
customer-centric services by leveraging best practices and best-in-class
technology to enable insightful, consistent interactions across all customer
touchpoints. Based on the Company's expertise and experience, ZAMBA has created
an end-to-end CRM Blueprint - a framework of interdependent processes and
technologies that addresses each aspect of customer care, including strategy,
analytics and marketing, contact center, content and commerce, field sales,
field service and enterprise integration. 

 

ZAMBA's clients have
included ADC, Aether Systems, Best Buy, Canon ITS, GE Medical Systems, Enbridge
Services, Hertz, General Mills, Microsoft Great Plains, Northrop Grumman,
Symbol Technologies, Towers Perrin, Union Bank of California, and Volkswagen of
America. The company has offices in Minneapolis, San Jose and Toronto. For more
information, contact ZAMBA at www.ZAMBAsolutions.com or (800) 677-9783.

 

Safe Harbor Statement

 

Certain statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and
involve known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially different from the
results, performance or achievements expressed or implied by the forward
looking statements.  Factors that impact such forward looking
statements include, among others, whether Entrx derives any value from its
acquisition of NextNet shares; whether Zamba will be capable of growing revenue
that would be sufficient to enable it to achieve
profitability at its current cost structure, whether the
$2.5 million in financing will provide Zamba with sufficient financial
stability to enable it to rebuild its business and focus on its core business
activities, and whether such efforts will prove to be successful, and Zamba
will ever achieve profitability.

 

2

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