Document:

Exhibit 10.2

Exhibit 10.2

GUARANTY

This Guaranty (“Agreement”) is made and executed this 14 day of February, 2011 by CLEAN DIESEL
TECHNOLOGIES, INC., a Delaware corporation, having a principal place of business of 4567 Telephone
Road, Suite 206, Ventura, California 93003, CLEAN DIESEL INTERNATIONAL, LLC, a Connecticut limited
liability company, having a principal place of business of 4567 Telephone Road, Suite 206, Ventura,
California, 93003, CATALYTIC SOLUTIONS, INC., a California corporation, having a principal place
of business of 4567 Telephone Road, Suite 206, Ventura, California 93003, ENGINE CONTROL SYSTEMS,
LTD, a Nevada corporation, having a principal place of business of 4910 Longley Lane, Suite 103,
Reno, Nevada 89502, ENGINE CONTROL SYSTEMS LIMITED, an entity organized under the laws of Canada,
having a principal place of business of 83 Commerce Valley Drive East, Thornhill, Ontario L3T 7T3,
CLEAN DIESEL TECHNOLOGIES LIMITED, an entity organized under the laws of the United Kingdom, having
a principal place of business of 20-21 Lambs Business Park, Terracotta Road, South Godstone, Surrey
RH9 8LJ, ENGINE CONTROL SYSTEMS EUROPE AB, an entity organized under the laws of Sweden, having a
principal place of business of Box 9015 Agnesfridsvagen,
184, SE-200 39 Malmö, Sweden, ECS HOLDINGS, INC., a Delaware corporation, having a principal place
of business of 83 Commerce Valley Drive East, Thornhill, Ontario L3T 7T3, CATALYTIC SOLUTIONS
HOLDINGS, INC., a Delaware corporation, having a principal place of business of 4567 Telephone
Road, Suite 206, Ventura, California 93003, and CSI ALISO, INC., a California corporation, having
a principal place of business of 4567 Telephone Road, Suite 206, Ventura, California 93003 (each a
“Guarantor”, and collectively the “Guarantors”), in favor of FAUNUS GROUP INTERNATIONAL, INC., a
Delaware corporation (“FGI”), having its principal place of business at 80 Broad Street, 22nd
Floor, New York, New York 10004.

BACKGROUND

A. FGI intends to establish financing arrangements with, extend credit to and/or purchase
receivables from Clean Diesel Technologies, Inc., Clean Diesel International, LLC, Catalytic
Solutions, Inc. and Engine Control Systems, Ltd (each, a “Client”, and collectively, the
“Clients”), pursuant to the terms and conditions of certain Sale of Accounts and Security
Agreements, each dated as of the date hereof between FGI and each Client, respectively (as may
hereafter be amended, supplemented, restated or replaced from time to time, collectively, the “Sale
Agreements”).

 

 

 

B. In order to induce FGI to enter into the financing arrangements with and make loans and
extend credit to the Clients, each Guarantor undertakes and agrees as set forth below.

1. Obligations Guaranteed. To induce FGI to enter into the Sale Agreements and
consider extending or continuing to extend credit or purchase receivables from time to time to
Clients thereunder, and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, each Guarantor, jointly and severally, intending to be legally bound
hereby, absolutely and unconditionally guarantees and becomes surety for the payment
and performance when due (at maturity, upon acceleration, or otherwise) of all of the debts
and obligations of Clients, or any of them, to FGI or any successor or assign of FGI, of every kind
or nature, whether joint or several, due or to become due, absolute or contingent, now existing or
hereafter arising, and whether principal, interest, fees, costs, expenses or otherwise, and arising
under the Sale Agreements or otherwise (including without limitation any interest and/or expenses
accruing following the commencement of any insolvency, receivership, reorganization or bankruptcy
case or proceeding relating to any Client, whether or not a claim for post-petition interest and/or
expenses is allowed in such case or proceeding) (collectively, the “Obligations”). Each Guarantor
shall also pay or reimburse FGI on demand for all costs and expenses, including without limitation
attorneys’ fees, incurred by FGI at any time to enforce, protect, preserve, or defend FGI’s rights
hereunder and with respect to any property securing this Agreement. All payments hereunder shall
be made in lawful money of the United States, in immediately available funds. Unless otherwise
defined herein, all capitalized terms shall have the respective meanings given to such terms in the
Sale Agreements.

2. Representations and Warranties. Each Guarantor represents and warrants that:

(a) Such Guarantor’s execution and performance of this Agreement shall not (i) violate or
result in a default or breach (immediately or with the passage of time) under any contract,
agreement or instrument to which such Guarantor is a party, or by which such Guarantor or any asset
of such Guarantor is bound, (ii) violate or result in a default or breach under any order, decree,
award, injunction, judgment, law, regulation or rule, (iii) cause or result in the imposition or
creation of any lien or other encumbrance upon any property or asset of such Guarantor, or (iv)
violate or result in a breach of any organizational documents (including, without limitation,
articles of incorporation, articles of formation, bylaws or operating agreements) of such
Guarantor.

(b) Such Guarantor has the full power and authority to enter into and perform under this
Agreement, which has been authorized by all necessary corporate action on behalf of such Guarantor.

(c) No consent, license or approval of, or filing or registration with, any governmental
authority is necessary for the execution and performance hereof by such Guarantor.

(d) This Agreement constitutes the valid and binding obligation of such Guarantor enforceable
in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditor’s rights
generally and by equitable principles.

(e) This Agreement promotes and furthers the business and interests of such Guarantor and the
creation of the obligations hereunder will result in direct financial benefit to such Guarantor.

 

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3. Guarantor Acknowledgements.

(a) Each Guarantor hereby waives notice of (i) acceptance of this Agreement,
(ii) the existence or incurring from time to time of any Obligations guaranteed hereunder,
(iii) nonpayment, the existence of any Termination Event, the making of demand, or the taking of
any action by FGI, under the Sale Agreements, or any of them, (iv) default and demand hereunder and
(v) the release of any other Guarantor hereunder.

(b) Each Guarantor acknowledges that such Guarantor (i) has examined or had the opportunity to
examine the Sale Agreements and related agreements and (ii) waives any defense which may exist
resulting from such Guarantor’s failure to receive or examine at any time the Sale Agreements or
any amendments, supplements, restatements or replacements therefor.

(c) Each Guarantor acknowledges that it shall not do anything to impede or interfere in any
manner with the normal collection and payment of the Accounts assigned and sold to FGI.

(d) Each Guarantor acknowledges that in entering into this Agreement such Guarantor is not
relying upon any statement, representation, warranty or opinion of any kind from FGI as to the
present or future financial condition, performance, assets, liabilities or prospects of Clients or
as to any other matter. Each Guarantor acknowledges and agrees that it shall have the sole
responsibility for obtaining from the Clients such information concerning the Clients’ financial
conditions or business operations as such Guarantor may require, and that FGI does not have any
duty at any time to disclose to such Guarantor any information relating to the business operations
or financial conditions of the Clients.

4. FGI Actions. Each Guarantor hereby consents and agrees that FGI may at any time or
from time to time in FGI’s discretion (a) extend or change the time of payment and/or change the
manner, place or terms of payment of any or all Obligations, (b) amend, supplement, restate or
replace the Sale Agreements or any related agreements, (c) renew or extend any financing now or
hereafter reflected by the Sale Agreements or the maturity thereof or increase (without limit of
any kind and whether related or unrelated) or decrease loans and extensions of credit to Clients,
(d) modify the terms and conditions under which loans, extensions of credit or purchases of
receivables may be made to Clients, (e) settle, compromise or grant releases for liabilities of
Clients, and/or any other Person or Persons liable with Guarantors for, any Obligations (including
any Guarantor hereunder), (f) exchange, compromise, release or surrender, or subordinate or release
any lien on, any property (including any collections therefrom or proceeds thereof) of Clients or
any other Person or Persons now or hereafter securing any of the Obligations, and (g) apply any and
all payments and proceeds of any property of any Person securing any or all of the Obligations
received by FGI at any time against the Obligations in any order as FGI may determine; all of the
foregoing in such manner and upon such terms as FGI may see fit, and without notice to or further
consent from Guarantors, who hereby agrees to be and shall remain bound upon this Agreement
notwithstanding any such action on FGI’s part.

 

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5. Scope of Guaranty. The Agreement is an agreement of suretyship and a guaranty of
payment and not of collection. The liability of Guarantors hereunder is joint and several,
absolute, primary, unlimited and unconditional and shall not be reduced, impaired or affected in
any way by reason of (a) any failure to obtain, retain or preserve, or the lack of prior
enforcement
of, any rights against any Person or Persons liable for the Obligations (including Clients and
any Guarantor) or in any property, (b) the invalidity, unenforceability or voidability of any
Obligations or any liens or rights in any property pledged by any Person or Persons, (c) any delay
in making demand upon Clients or any delay in enforcing, or any failure to enforce, any rights
against Clients or any other Person or Persons liable for any or all of the Obligations or in any
property pledged by any Person or Persons, even if such rights are thereby lost, (d) any failure,
neglect or omission on FGI’s part to obtain, perfect or continue any lien upon, protect, exercise
rights against, or realize on, any property of Clients, Guarantors or any other party securing the
Obligations, (e) the existence or nonexistence of any defenses which may be available to the
Clients with respect to the Obligations, (f) the granting of any waiver or forbearance at any time
and for any period with respect to any performance by Clients or any Default or Event of Default
under the Sale Agreements, (g) the commencement of any bankruptcy, reorganization, liquidation,
dissolution or receivership proceeding or case filed by or against Clients or any Guarantor or (h)
any other fact, event, condition or omission which may give rise to a suretyship defense. Each
Guarantor promises and undertakes to make all payments hereunder free and clear of any deduction,
offset, defense, claim or counterclaim of any kind.

6. Reinstatement. If any or all payments or proceeds of property securing any or all
of the Obligations made from time to time to FGI with respect to any obligation hereby guaranteed
are at any time recovered from, or repaid by, FGI in whole or in part in any bankruptcy,
reorganization, receivership, insolvency or similar case or proceeding instituted by or against any
Client, this Agreement shall continue to be fully applicable to (or, as the case may be, reinstated
to be applicable to) such obligation to the same extent as if the recovered or repaid payment(s) or
proceeds had never been originally paid to FGI.

7. Cumulative Remedies. All rights and remedies hereunder and under the Sale
Agreements and related agreements, are cumulative and not alternative, and FGI may proceed in any
order from time to time against any Client, any Guarantor and/or any other Person or Persons liable
for any or all of the Obligations and their respective assets. FGI shall not have any obligation
to proceed at any time or in any manner against, or exhaust any or all of FGI’s rights against, any
Client or any other Person or Persons liable for any or all of the Obligations prior to proceeding
against any Guarantor hereunder.

8. Security Interest. As additional security for the Obligations, each Guarantor
hereby grants to FGI a security interest in all of such Guarantor’s right, title and interest in
and to the following assets, wherever located and whether now or hereafter owned or acquired: (a)
all Accounts, (b) Chattel Paper, (c) Commercial Tort Claims, (d) Deposit Accounts, (e) Documents,
(f) Equipment, (g) General Intangibles, (h) Goods (including but not limited to all files,
correspondence, computer programs, tapes, disks and related data processing software which contain
information identifying or pertaining to any of the Collateral or any Account Debtor or showing the
amounts thereof or payments thereon or otherwise necessary or helpful in the realization thereon or
the collection thereof, (i) Inventory, (j) Investments, (k) Investment Property, (l) Letters of
Credit and Letter of Credit rights, (m) all Supporting Obligations and (n) all cash and non-cash
proceed of the foregoing (including insurance proceeds). Upon the occurrence of a Default or Event
of Default under any Sale Agreement or any breach or default by any Guarantor under this Agreement
(each an “Event of Default”), FGI

 

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shall have all the rights of a secured party under applicable law, and more specifically under the Uniform
Commercial Code (in effect in the State of New York) and shall have all the rights and remedies set
forth in such Sale Agreement. In addition and without limitation, upon the occurrence of an Event
of Default, FGI may, without notice to or demand upon Guarantors take possession of the Collateral,
and for that purpose FGI may enter upon any premises on which the Collateral may be situated and
remove the same therefrom; require Guarantors to assemble all or any part of the Collateral at such
location or locations within the jurisdiction(s) of Guarantors’ principal office(s) or at such
other locations as FGI may reasonably designate. Unless the Collateral is perishable or threatens
to decline speedily in value or is of a type customarily sold on a recognized market, FGI shall
give to Guarantors at least ten (10) Business Days prior written notice of the time and place of
any public sale of Collateral or of the time after, which any private sale or any other intended
disposition is to be made. The Guarantors hereby acknowledge that ten (10) Business Days prior
written notice of such sale or sales shall be reasonable notice. In addition, each Guarantor
waives any and all rights that it may have to a judicial hearing in advance of the enforcement of
any of FGI’s rights hereunder, including, without limitation, its right following an Event of
Default to take immediate possession of the Collateral and to exercise its rights with respect
thereto. In addition, FGI shall have and may exercise any or all other rights and remedies it may
have available at law, in equity, or otherwise. All of FGI’s rights and remedies, whether evidenced
by this Agreement, the Sale Agreements or any other writing, shall be cumulative and may be
exercised singularly or concurrently. Election by FGI to pursue any remedy shall not exclude
pursuit of any other remedy, and an election to make expenditures or to take action to perform an
obligation of any Guarantor under this Agreement, after such Guarantor’s failure to perform, shall
not affect FGI’s right to declare a default and to exercise its remedies.

9. Subrogation. Any and all rights of any nature of Guarantors to subrogation,
reimbursement or indemnity and any right of Guarantors to recourse to any assets or property of, or
payment from, Clients or any other Person or Persons liable for any or all of the Obligations as a
result of any payments made or to be made hereunder for any reason shall be unconditionally
subordinated to all of FGI’s rights under the Sale Agreements and Guarantors shall not at any time
exercise any of such rights unless and until all of the Obligations have been unconditionally paid
in full. Any payments received by any Guarantor in violation of this Section 9 shall be held in
trust for and immediately remitted to FGI.

10. FGI Records. FGI’s books and records of any and all of the Obligations, absent
manifest error, shall be prima facie evidence against Guarantors of the indebtedness owing or to
become owing to FGI hereunder.

11. Continuing Surety. This Agreement shall constitute a continuing surety obligation
with respect to all Obligations from time to time incurred or arising and shall continue in effect
until all Obligations are indefeasibly paid and satisfied and the liability of Guarantors under
this Agreement may not be revoked or terminated.

12. Setoff. Each Guarantor agrees that FGI shall have a right of setoff against any
and all property of Guarantors now or at any time in FGI’s possession, including without limitation
deposit accounts, and the proceeds thereof, as against the obligations of Guarantors hereunder.

 

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13. Acceleration. If a Default or Event of Default occurs and is continuing under any
Sale Agreement, then all of Guarantors’ liabilities of every kind or nature to FGI hereunder shall,
at FGI’s option, become immediately due and payable and FGI may at any time and from time to time,
at FGI’s option (regardless of whether the liability of Client or any other Person or Persons
liable for any or all of the Obligations has matured or may then be enforced), take any and/or all
actions and enforce all rights and remedies available hereunder or under applicable law to collect
Guarantors’ liabilities hereunder.

14. Enforcement Timing. Failure or delay in exercising any right or remedy against
Guarantors hereunder shall not be deemed a waiver thereof or preclude the exercise of any other
right or remedy hereunder. No waiver of any breach of any provision of this Agreement shall be
construed as a waiver of any subsequent breach or of any other provision.

15. Successors and Assigns. This Agreement shall (a) be legally binding upon each
Guarantor, and each Guarantor’s successors and assigns, provided that each Guarantor’s obligations
hereunder may not be delegated or assigned without FGI’s prior written consent and (b) benefit any
and all of FGI’s successors and assigns. FGI may assign its rights under this Agreement without
notice to or consent from any Guarantor.

16. Entire Agreement. This Agreement and the Sale Agreements embody the whole
agreement and understanding of the parties hereto relative to the subject matter hereof. No
modification or waiver of any provision hereof shall be enforceable unless approved by FGI in
writing.

17. Governing Law, Submission to Jurisdiction and Jury Trial. THIS AGREEMENT, AND ALL
MATTERS ARISING HEREUNDER OR RELATING HERETO, SHALL IN ALL RESPECTS BE INTERPRETED, CONSTRUED AND
GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK. EACH GUARANTOR IRREVOCABLY KNOWINGLY
AND VOLUNTARILY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK
AND THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSES OF ANY
LITIGATION OR PROCEEDING HEREUNDER OR CONCERNING THE TERMS HEREOF AND (II) WAIVES THE RIGHT TO A
JURY TRIAL WITH RESPECT TO ANY LITIGATION, CLAIMS OR PROCEEDING HEREUNDER OR CONCERNING THE TERMS
HEREOF OR OTHERWISE IN CONNECTION WITH GUARANTORS’ DEALINGS WITH FGI.

18. Notices.

(a) In any action or proceeding brought by FGI to enforce the terms hereof, each Guarantor
waives personal service of the summons, complaint, and any motion or other process, and agrees that
notice thereof may be served (i) in person, (ii) by registered or certified mail, return receipt
requested, or (iii) by nationally recognized overnight courier (in the case of (i) above, on the
date of delivery; in the case of (ii) above, three (3) days after deposit in the U.S. Mail; and in
the case of (iii) above, one (1) day after delivery to the courier). Service may be made at the
address of Guarantors set forth in the Preamble hereto or such other address at which
any Guarantors is then located.

 

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(b) Any and all notices which may be given to a Guarantor by FGI hereunder shall be sent to
such Guarantor at the address of such Guarantor set forth in the Preamble hereto (or such other
address at which such Guarantor is then located) and shall be deemed given to and received by such
Guarantor if sent by facsimile transmission or if sent in the manner provided for service of
process in Section 18(a) above. Notices sent by facsimile shall be deemed received on the date
sent. Notices otherwise sent shall be deemed received on the applicable date(s) provided for
receipt of service of process under Section 18(a) above.

19. Maximum Liability. To the extent that applicable law otherwise would render the
obligations of any Guarantor hereunder invalid or unenforceable, such Guarantor shall nevertheless
remain liable hereunder; provided however that such Guarantor’s obligations shall be limited to the
maximum amount which does not result in such invalidity or unenforceability. Notwithstanding the
foregoing, each Guarantor’s obligations hereunder shall be presumptively valid and enforceable to
their fullest extent in accordance with the terms of this Agreement, as if this Section 19 were not
a part of this Agreement.

20. Severability. The invalidity or unenforceability of any provision hereof shall
not affect the remaining provisions which shall remain in full force and effect.

[SIGNATURES APPEAR ON FOLLOWING PAGE]

 

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[Signature page to Guaranty]

THIS GUARANTY is dated the date and year first above written.

	 	 	 	 	 
	 	CLEAN DIESEL TECHNOLOGIES, INC.

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	CLEAN DIESEL INTERNATIONAL, LLC

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	CATALYTIC SOLUTIONS, INC.

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	ENGINE CONTROL SYSTEMS LIMITED

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	ENGINE CONTROL SYSTEMS, LTD

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 

 

S-1

 

[Signature page to Guaranty]

	 	 	 	 	 
	 	CLEAN DIESEL TECHNOLOGIES LIMITED

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	ENGINE CONTROL SYSTEMS EUROPE AB

 	 
	 	By:  	/s/ Christopher Harris
 	 
	 	 	Name:  	Christopher Harris 	 
	 	 	Title:  	Director 	 
	 
	 	ECS HOLDINGS, INC.

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	CATALYTIC SOLUTIONS HOLDINGS, INC.

 	 
	 	By:  	/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	CSI ALISO, INC.

 	 
	 	By:  	

/s/ Nikhil A. Mehta
 	 
	 	 	Name:  	Nikhil A. Mehta 	 
	 	 	Title:  	Chief Financial Officer 	 

 

S-2ex101.htm

Exhibit 10.1

 

AMENDMENT NO.1 TO LOCKUP AGREEMENT

 

 

This Amendment No. 1 to Lock Agreement (this “Amendment”), dated as of February 9, 2011, is entered into by and among The Brainy Brands Company, Inc., a Delaware corporation (the “Company”), and Dennis Fedoruk (the “Holder”).

 

WITNESSETH:

 

WHEREAS, the Company and the Holder are party to a LockUp Agreement, dated as of November 24, 2010 (the “LockUp Agreement”);

 

WHEREAS, the Company and the Holder desire to amend the LockUp Agreement as more particularly set forth below;

 

NOW, THEREFORE, in consideration of the covenants and mutual promises contained herein and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged and intending to be legally bound hereby, the parties agree as follows:

 

1.           2,000,000 shares of the Company’s common stock held by Holder are released from the lock-up. For the avoidance of doubt, Holder will not be restricted from selling, transferring or otherwise disposing of up to 2,000,000 shares of the Company’s common stock under the Lock-Up Agreement from and after the date of this Amendment.

 

3.           Except as modified herein, the terms of the LockUp Agreement shall remain in full force and effect.

 

4.           This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same Amendment.  A signature delivered by facsimile shall constitute an original.

 

[Signature Page Follows]

 

  

1

  

 

[SIGNATURE PAGE TO AMENDMENT TO LOCKUP AGREEMENT]

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of this 9th day of February, 2011.

 

	
  

 

	 	 	 	 
	By:	
/s/ John  Benfield

	 	 	 	 
	 	
Name: John  Benfield

	 	 	
 

	 
	 	
Title: Chief Executive Officer 

	 	 	
 

	 

 

/s/ Dennis Fedourk

Dennis Fedoruk

Consented to by a Majority in Interest of the Subscribers pursuant to Section 9 of LockUp Agreement:

 

	
 
ALPHA CAPITAL ANSTALT

 

	 	 	 	 
	By:	
/s/ Konrad Ackerman

	 	 	 	 
	 	
Name: Konrad Ackerman

	 	 	
 

	 
	 	
Title: Director

Principal Amount of Notes held: $500,000

	 	 	
 

	 

 

	
 
 
ADVENTURE VENTURES LLC

 

	 	 	 	 
	By:	/s/ Ari Kluger	 	 	 	 
	 	Name: Ari Kluger	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $125,000

	 	 	
 

	 

	
 

OSHER CAPITAL PARTNERS LLC

 

	 	 	 	 
	By:	/s/ Ari Kluger	 	 	 	 
	 	Name: Ari Kluger	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $125,000

 

	
 
 
 
WHALVEHAVEN CAPITAL FUND LIMITED

 

	 	 	 	 
	By:	/s/ Eric Weisblum	 	 	 	 
	 	Name: Eric Weisblum	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $500,000

 

	
 
 
 
FLM HOLDINGS LLC

 

	 	 	 	 
	By:	/s/ Sam Del Presto	 	 	 	 
	 	Name: Sam Del Presto	 	 	
 

	 
	 	
Title: Managing Member

Principal Amount of Notes held: $506,488.89

	
 
 
 
FJD HOLDING LLC

 

	 	 	 	 
	By:	 	 	 	 	 
	 	Name: 	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $250,000

 

	
 
 
 
BRIO CAPITAL L.P.

 

	 	 	 	 
	By:	/s/ Shaye Hirsch	 	 	 	 
	 	Name: Shaye Hirsch	 	 	
 

	 
	 	
Title: Managing Member

Principal Amount of Notes held: $150,000

	
 
 
 
EDWARD KARR

 

	 	 	 	 
	By:	 	 	 	 	 
	 	Name: 	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $100,000

 

 

  

2

  

 

 

	
 
 
 
MAIELLA INVESTMENT HOLDINGS LLC

 

	 	 	 	 
	By:	 	 	 	 	 
	 	Name: 	 	 	
 

	 
	 	
Title: 

Principal Amount of Notes held: $150,000

	
 
 
 
BRISTOL INVESTMENT FUND, LTD.

 

	 	 	 	 
	By:	/s/ Paul Kessler	 	 	 	 
	 	Name: Paul Kessler	 	 	
 

	 
	 	
Title: Director

Principal Amount of Notes held: $280,000

 

	
 
 
 
BRISTOL CAPITAL ADISORS

PROFIT SHARING PLAN

 

	 	 	 	 
	By:	/s/ Paul Kessler	 	 	 	 
	 	Name:  Paul Kessler	 	 	
 

	 
	 	
Title: Authorized Signatory

Principal Amount of Notes held: $40,000

 

	
 
 
 
BRISTOL CAPITAL, LLC

 

	 	 	 	 
	By:	/s/ Paul Kessler	 	 	 	 
	 	Name: Paul Kessler	 	 	
 

	 
	 	
Title: Manager

Principal Amount of Notes held: $80,000

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