Document:

Exhibit 10.20

 

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.

 

CONVERTIBLE PROMISSORY NOTE

 

	Principle Amount: U.S. $37,500	Dated: July 31, 2016

 

FOR VALUE RECEIVED,
Minerco, Inc., a Nevada corporation (the “Maker”), hereby promises to pay to Sam J. Messina III, an individual,
a Director and Officer of the Maker, or his successors and assigns (the “Payee”), at its address at 800 Bering
Drive, Houston, Texas 77057, or to such other address as Payee shall provide in writing to the Maker for such purpose, a principal
sum of Thirty-Seven Thousand Five Hundred U.S. Dollars and 00/100 Cents (US$ 37,500) (the “Note”). The aggregate principal
amount outstanding under this Note will be conclusively evidenced by the schedule annexed as Exhibit B hereto (the “Loan
Schedule”), up to a maximum principal amount of U.S $37,500. The entire principal amount hereunder shall be due and payable
on February 1, 2017 (the “Maturity Date”), or on such earlier date as such principal amount may earlier become
due and payable pursuant to the terms hereof.

 

1.           Interest Rate. Interest shall accrue on the unpaid principal amount of this Convertible Promissory Note (the “Note”)
at the rate of five percent (5%) per annum from the date of the first making of the loan for such principal amount until such unpaid
principal amount is paid in full or earlier converted into shares (the “Shares”) of the Maker’s common
stock (the “Common Stock”) in accordance with the terms hereof. Interest hereunder shall be paid on such date
as the principal amount under this Note becomes due and payable or is converted in accordance with the terms hereof and shall be
computed on the basis of a 360-day year for the actual number of days elapsed.

 

2.           Conversion of Principal and Interest. Subject to the terms and conditions hereof, the Payee, at its sole option,
may deliver to the Maker a notice in the form attached hereto as Exhibit A (a “Conversion Notice”) and an updated
Loan Schedule, at any time and from time to time after the date hereof and prior to the payment of the principal amount and all
accrued interest thereon (the date of the delivery of a Conversion Notice shall be referred to herein as a “Conversion
Date”), to convert all or any portion of the outstanding principal amount of this Note plus accrued and unpaid interest
thereon, for a number of Shares equal to the quotient obtained by dividing the dollar amount of such outstanding principal amount
of this Note plus the accrued and unpaid interest thereon being converted by the Conversion Price (as defined in Section 15). Conversions
hereunder shall have the effect of lowering the outstanding principal amount of this Note plus all accrued and unpaid interest
thereunder in an amount equal to the applicable conversion, which shall be evidenced by entries set forth in the Conversion Notice
and the Loan Schedule.

 

    	 		 

     

    

 

3.           Certain Conversion Limitations. The Payee may not convert an outstanding principal amount of this Note or accrued
and unpaid interest thereon to the extent such conversion would result in the Payee, together with any affiliate thereof, beneficially
owning (as determined in accordance with Section 13(d) of the Exchange Act (as defined in Section 15) and the rules promulgated
thereunder) in excess of 4.999% of the then issued and outstanding shares of Common Stock. Since the Payee will not be obligated
to report to the Maker the number of shares of Common Stock it may hold at the time of a conversion hereunder, unless the conversion
at issue would result in the beneficial ownership in excess of 4.999% of the then outstanding shares of Common Stock (inclusive
of any other shares which may be beneficially owned by the Payee or an affiliate thereof), the Payee shall have the authority and
obligation to determine whether and the extent to which the restriction contained in this Section will limit any particular conversion
hereunder. The Payee may waive the provisions of this Section upon not less than 75 days prior notice to the Maker.

 

4.           Deliveries. Not later than five (5) Trading Days (as defined in Section 15) after any Conversion Date, the Maker
will deliver to the Payee (i) a certificate or certificates representing the number of Shares being acquired upon the conversion
of the principal amount of this Note and any interest accrued thereunder being converted pursuant to the Conversion Notice (subject
to the limitations set forth in Section 3 hereof), and (ii) an endorsement by the Maker of the Loan Schedule acknowledging the
remaining outstanding principal amount of this Note plus all accrued and unpaid interest thereon not converted (an “Endorsement”).
The Maker’s delivery to the Payee of stocks certificates in accordance clause (i) above shall be Maker’s conclusive
endorsement of the remaining outstanding principal amount of this Note plus all accrued and unpaid interest thereon not converted
as set forth in the Loan Schedule.

 

5.           Prepayment Right. The Maker shall have the right to prepay all or a portion of the outstanding principal amount of
this Note plus all accrued and unpaid interest thereon.

 

6.           No Adjustments. If the Maker, at any time while any portion of the principal amount due under this Note is outstanding,
(a) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity
or equity equivalent securities payable in shares of Common Stock, (b) subdivide outstanding shares of Common Stock into a larger
number of shares, (c) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (d) issue by reclassification of shares of the Common Stock any shares of capital stock of the Maker, then the Conversion
Price (as defined in Section 15) shall not be adjusted.

 

    	 	2	 

     

    

 

7.           No Waiver of Payee’s Rights, etc. All payments of principal and interest shall be made without setoff, deduction
or counterclaim. No delay or failure on the part of the Payee in exercising any of its options, powers or rights, nor any partial
or single exercise of its options, powers or rights shall constitute a waiver thereof or of any other option, power or right, and
no waiver on the part of the Payee of any of its options, powers or rights shall constitute a waiver of any other option, power
or right. The Maker hereby waives presentment of payment, protest, and notices or demands in connection with the delivery, acceptance,
performance, default or endorsement of this Note. Acceptance by the Payee of less than the full amount due and payable hereunder
shall in no way limit the right of the Payee to require full payment of all sums due and payable hereunder in accordance with the
terms hereof.

 

8.           Modifications. No term or provision contained herein may be modified, amended or waived except by written agreement
or consent signed by the party to be bound thereby.

 

9.           Cumulative Rights and Remedies; Usury. The rights and remedies of the Payee expressed herein are cumulative and not
exclusive of any rights and remedies otherwise available. If it shall be found that any interest outstanding hereunder shall violate
applicable laws governing usury, the applicable rate of interest outstanding hereunder shall be reduced to the maximum permitted
rate of interest under such law.

 

10.         Collection Expenses. If this obligation is placed in the hands of an attorney for collection after default, and provided
the Payee prevails on the merits in respect to its claim of default, the Maker shall pay (and shall indemnify and hold harmless
the Payee from and against), all reasonable attorneys’ fees and expenses incurred by the Payee in pursuing collection of
this Note.

 

11.         Successors and Assigns. This Note shall be binding upon the Maker and its successors and shall inure to the benefit
of the Payee and its successors and assigns. The term “Payee” as used herein, shall also include any endorsee, assignee
or other holder of this Note.

 

12.         Lost or Stolen Promissory Note. If this Note is lost, stolen, mutilated or otherwise destroyed, the Maker shall execute
and deliver to the Payee a new promissory note containing the same terms, and in the same form, as this Note. In such event, the
Maker may require the Payee to deliver to the Maker an affidavit of lost instrument and customary indemnity in respect thereof
as a condition to the delivery of any such new promissory note.

 

13.         Due Authorization. This Note has been duly authorized, executed and delivered by the Maker and is the legal obligation
of the Maker, enforceable against the Maker in accordance with its terms.

 

14.         Governing Law. This Note shall be governed by and construed and enforced in accordance with the internal laws of
the State of Texas without regard to the principles of conflicts of law thereof.

 

15.         Definitions. For the purposes hereof, the following terms shall have the following meanings:

 

“Business
Day” means any day except Saturday, Sunday and any day that is a legal holiday or a day on which banking institutions
in the State of New York or State of Nevada are authorized or required by law or other government action to close.

  

    	 	3	 

     

    

 

“Conversion
Price” shall be 50% of the lowest Per Share Market Value of the five (5) Trading Days immediately preceding a Conversion
Date or $0.010 per share, whichever is lowest.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Trading Day”
means (a) a day on which the shares of Common Stock are traded on such Subsequent Market on which the shares of Common Stock are
then listed or quoted, or (b) if the shares of Common Stock are not listed on a Subsequent Market, a day on which the shares of
Common Stock are traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (c) if the shares of Common Stock
are not quoted on the OTC Bulletin Board, a day on which the shares of Common Stock are quoted in the over-the-counter market as
reported by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding its functions of reporting
prices); provided, however, that in the event that the shares of Common Stock are not listed or quoted as set forth in (a), (b)
and (c) hereof, then Trading Day shall mean any day except Saturday, Sunday and any day which shall be a legal holiday or a day
on which banking institutions in the State of Texas or State of New York are authorized or required by law or other government
action to close.

  

[Intentionally Left Blank – Signature
Page Follows]

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the Maker has
caused this Convertible Promissory Note to be duly executed and delivered as of the date first set forth above.

 

	 	MINERCO,
    INC.
	 	 	 
	 	By:	/s/
    V. Scott Vanis
	 	Name:	V.
    Scott Vanis
	 	Title:	Chief
    Executive Officer

  

(Signature
Page of Convertible Promissory Note)

 

    	 	5	 

     

    

 

EXHIBIT A

 

NOTICE OF CONVERSION

 

Dated: _________________

 

The undersigned hereby
elects to convert the principal amount and interest indicated below of the attached Convertible Promissory Note into shares of
common stock (the “Common Stock”), of Minerco Resources Inc., according to the conditions hereof, as of the
date written below. No fee will be charged to the holder for any conversion.

 

Exchange calculations: ______________________________________________

 

Date to Effect Conversion: ___________________________________________

 

Principal Amount and Interest of

Secured Convertible Note to be Converted:
______________________________

 

Number of shares of Common Stock to be
Issued: _________________________

 

Applicable Conversion Price:

 

Signature: __________________________________________

 

Name:_____________________________________________

 

Address:____________________________________________

 

 

    	 	A-1	 

     

    

 

EXHIBIT B

 

LOAN SCHEDULE

 

Convertible Promissory Note Issued by Minerco
Inc.

 

Dated: ___________________

 

SCHEDULE

OF

CONVERSIONS
AND PAYMENTS OF PRINCIPAL

 

	Date of Conversion	Amount of Conversion	
        Total Amount Due Subsequent

        To Conversion

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

B-1Exhibit 10.21

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

CONVERTIBLE
PROMISSORY NOTE

 

	Principle
    Amount: U.S. $52,500	Dated:
    April 30, 2016
	 	 
	 	Amended
    and Restated: April 3, 2017

  

WHEREAS,
MINERCO, INC. desires to amend and restate an existing promissory note originally issued to Sam J. Messina, III on April 30, 2016, in principal amount of $52,500, to read as follows:

 

FOR
VALUE RECEIVED, Minerco, Inc., a Nevada corporation (the “Maker”), hereby promises to pay to Sam J. Messina
III, an individual, a Director and Officer of the Maker, or his successors and assigns (the “Payee”), at its
address at 800 Bering Drive, Houston, Texas 77057, or to such other address as Payee shall provide in writing to the Maker for
such purpose, a principal sum of Fifty-Two Thousand Five Hundred U.S. Dollars and 00/100 Cents (US$ 52,500) (the “Note”).
The aggregate principal amount outstanding under this Note will be conclusively evidenced by the schedule annexed as Exhibit B
hereto (the “Loan Schedule”), up to a maximum principal amount of U.S $52,500. The entire principal amount
hereunder shall be due and payable on November 1, 2016 (the “Maturity Date”), or on such earlier date as such
principal amount may earlier become due and payable pursuant to the terms hereof.

 

1.             Interest Rate. Interest shall accrue on the unpaid principal amount of this Convertible Promissory Note (the “Note”)
at the rate of five percent (5%) per annum from the date of the first making of the loan for such principal amount until such
unpaid principal amount is paid in full or earlier converted into shares (the “Shares”) of the Maker’s
common stock (the “Common Stock”) in accordance with the terms hereof. Interest hereunder shall be paid on
such date as the principal amount under this Note becomes due and payable or is converted in accordance with the terms hereof
and shall be computed on the basis of a 360-day year for the actual number of days elapsed.

 

    	 		 

     

    

 

2.             Conversion of Principal and Interest. Subject to the terms and conditions hereof, the Payee, at its sole option, may deliver
to the Maker a notice in the form attached hereto as Exhibit A (a “Conversion Notice”) and an updated Loan
Schedule, at any time and from time to time after the date hereof and prior to the payment of the principal amount and all accrued
interest thereon (the date of the delivery of a Conversion Notice shall be referred to herein as a “Conversion Date”),
to convert all or any portion of the outstanding principal amount of this Note plus accrued and unpaid interest thereon, for a
number of Shares equal to the quotient obtained by dividing the dollar amount of such outstanding principal amount of this Note
plus the accrued and unpaid interest thereon being converted by the Conversion Price (as defined in Section 15). Conversions hereunder
shall have the effect of lowering the outstanding principal amount of this Note plus all accrued and unpaid interest thereunder
in an amount equal to the applicable conversion, which shall be evidenced by entries set forth in the Conversion Notice and the
Loan Schedule.

 

3.             Certain Conversion Limitations. The Payee may not convert an outstanding principal amount of this Note or accrued and unpaid
interest thereon to the extent such conversion would result in the Payee, together with any affiliate thereof, beneficially owning
(as determined in accordance with Section 13(d) of the Exchange Act (as defined in Section 15) and the rules promulgated thereunder)
in excess of 4.999% of the then issued and outstanding shares of Common Stock. Since the Payee will not be obligated to report
to the Maker the number of shares of Common Stock it may hold at the time of a conversion hereunder, unless the conversion at
issue would result in the beneficial ownership in excess of 4.999% of the then outstanding shares of Common Stock (inclusive of
any other shares which may be beneficially owned by the Payee or an affiliate thereof), the Payee shall have the authority and
obligation to determine whether and the extent to which the restriction contained in this Section will limit any particular conversion
hereunder. The Payee may waive the provisions of this Section upon not less than 75 days prior notice to the Maker.

 

4.             Deliveries. Not later than five (5) Trading Days (as defined in Section 15) after any Conversion Date, the Maker will deliver
to the Payee (i) a certificate or certificates representing the number of Shares being acquired upon the conversion of the principal
amount of this Note and any interest accrued thereunder being converted pursuant to the Conversion Notice (subject to the limitations
set forth in Section 3 hereof), and (ii) an endorsement by the Maker of the Loan Schedule acknowledging the remaining outstanding
principal amount of this Note plus all accrued and unpaid interest thereon not converted (an “Endorsement”).
The Maker’s delivery to the Payee of stocks certificates in accordance clause (i) above shall be Maker’s conclusive
endorsement of the remaining outstanding principal amount of this Note plus all accrued and unpaid interest thereon not converted
as set forth in the Loan Schedule.

 

5.             Prepayment Right. The Maker shall have the right to prepay all or a portion of the outstanding principal amount of this
Note plus all accrued and unpaid interest thereon.

 

6.             No Adjustments. If the Maker, at any time while any portion of the principal amount due under this Note is outstanding,
(a) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity
or equity equivalent securities payable in shares of Common Stock, (b) subdivide outstanding shares of Common Stock into a larger
number of shares, (c) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (d) issue by reclassification of shares of the Common Stock any shares of capital stock of the Maker, then the Conversion
Price (as defined in Section 15) shall not be adjusted.

 

    	 	2	 

     

    

 

7.             No Waiver of Payee’s Rights, etc. All payments of principal and interest shall be made without setoff, deduction
or counterclaim. No delay or failure on the part of the Payee in exercising any of its options, powers or rights, nor any partial
or single exercise of its options, powers or rights shall constitute a waiver thereof or of any other option, power or right,
and no waiver on the part of the Payee of any of its options, powers or rights shall constitute a waiver of any other option,
power or right. The Maker hereby waives presentment of payment, protest, and notices or demands in connection with the delivery,
acceptance, performance, default or endorsement of this Note. Acceptance by the Payee of less than the full amount due and payable
hereunder shall in no way limit the right of the Payee to require full payment of all sums due and payable hereunder in accordance
with the terms hereof.

 

8.             Modifications. No term or provision contained herein may be modified, amended or waived except by written agreement or
consent signed by the party to be bound thereby.

 

9.             Cumulative Rights and Remedies; Usury. The rights and remedies of the Payee expressed herein are cumulative and not exclusive
of any rights and remedies otherwise available. If it shall be found that any interest outstanding hereunder shall violate applicable
laws governing usury, the applicable rate of interest outstanding hereunder shall be reduced to the maximum permitted rate of
interest under such law.

 

10.           Collection Expenses. If this obligation is placed in the hands of an attorney for collection after default, and provided
the Payee prevails on the merits in respect to its claim of default, the Maker shall pay (and shall indemnify and hold harmless
the Payee from and against), all reasonable attorneys’ fees and expenses incurred by the Payee in pursuing collection of
this Note.

 

11.           Successors and Assigns. This Note shall be binding upon the Maker and its successors and shall inure to the benefit of
the Payee and its successors and assigns. The term “Payee” as used herein, shall also include any endorsee, assignee
or other holder of this Note.

 

12.           Lost or Stolen Promissory Note. If this Note is lost, stolen, mutilated or otherwise destroyed, the Maker shall execute
and deliver to the Payee a new promissory note containing the same terms, and in the same form, as this Note. In such event, the
Maker may require the Payee to deliver to the Maker an affidavit of lost instrument and customary indemnity in respect thereof
as a condition to the delivery of any such new promissory note.

 

13.           Due Authorization. This Note has been duly authorized, executed and delivered by the Maker and is the legal obligation
of the Maker, enforceable against the Maker in accordance with its terms.

 

14.           Governing Law. This Note shall be governed by and construed and enforced in accordance with the internal laws of the State
of Texas without regard to the principles of conflicts of law thereof.

 

    	 	3	 

     

    

 

15.           Definitions. For the purposes hereof, the following terms shall have the following meanings:

 

“Business
Day” means any day except Saturday, Sunday and any day that is a legal holiday or a day on which banking institutions
in the State of New York or State of Nevada are authorized or required by law or other government action to close.

 

“Conversion
Price” shall be 50% of the lowest Per Share Market Value of the five (5) Trading Days immediately preceding a Conversion
Date or $0.0005 per share, whichever is lowest.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Trading
Day” means (a) a day on which the shares of Common Stock are traded on such Subsequent Market on which the shares of
Common Stock are then listed or quoted, or (b) if the shares of Common Stock are not listed on a Subsequent Market, a day on which
the shares of Common Stock are traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (c) if the shares
of Common Stock are not quoted on the OTC Bulletin Board, a day on which the shares of Common Stock are quoted in the over-the-counter
market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding its functions
of reporting prices); provided, however, that in the event that the shares of Common Stock are not listed or quoted as set forth
in (a), (b) and (c) hereof, then Trading Day shall mean any day except Saturday, Sunday and any day which shall be a legal holiday
or a day on which banking institutions in the State of Texas or State of New York are authorized or required by law or other government
action to close.

  

[Intentionally
Left Blank – Signature Page Follows]

 

    	 	4	 

     

    

 

IN
WITNESS WHEREOF, the Maker has caused this Convertible Promissory Note to be duly executed and delivered as of the date first
set forth above.

 

	 	MINERCO,
    INC.
	 	 	 
	 	By:	/s/
    V. Scott Vanis
	 	Name:	V.
    Scott Vanis
	 	Title:	Chief
    Executive Officer

 

(Signature
Page of Convertible Promissory Note)

 

    	 	5	 

     

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION

Dated:
_________________

 

The
undersigned hereby elects to convert the principal amount and interest indicated below of the attached Convertible Promissory
Note into shares of common stock (the “Common Stock”), of Minerco Resources Inc., according to the conditions
hereof, as of the date written below. No fee will be charged to the holder for any conversion.

 

Exchange
calculations: ______________________________________________

 

Date
to Effect Conversion: ___________________________________________

Principal
Amount and Interest of

 

Secured
Convertible Note to be Converted: ______________________________

 

Number
of shares of Common Stock to be Issued: _________________________

 

Applicable
Conversion Price:

 

Signature:
__________________________________________

 

Name:_____________________________________________

 

Address:____________________________________________

 

    	 	A-1	 

     

    

 

EXHIBIT
B

 

LOAN
SCHEDULE

 

Convertible
Promissory Note Issued by Minerco Inc.

 

Dated:
___________________

 

SCHEDULE

OF

CONVERSIONS
AND PAYMENTS OF PRINCIPAL

 

	Date
    of Conversion	Amount
    of Conversion	Total
        Amount Due Subsequent

        To
        Conversion

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

B-1

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