Document:

Unassociated Document

Exhibit 10.3

 

SECURITIES PURCHASE AGREEMENT

This Securities Purchase Agreement (this “Agreement”) is made and entered into as of August 12, 2013 by and between Greenpro, Inc., a Nevada corporation (the “Company”) and the undersigned (the “Purchaser”). The Purchaser, together with the Company shall be referred to as the “Parties”.

WHEREAS, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company a promissory note described below under Section 1 of this Agreement pursuant to an exemption from registration under Section 4(2), Regulation D, and/or Regulation S under the Securities Act of 1933, as amended (the “1933 Act”) or other applicable exemptions on the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

	
  

	
1.

	
Securities Sale and Purchase. The Company shall issue and sell to the Purchaser and the Purchaser agrees to purchase from the Company a promissory note in the form of Exhibit A (the “Note” or the “Securities”) in the principal amount of $41,250 (the “Purchase Price”) pursuant to an exemption from registration provided by Section 4(2), Regulation D, and/or Regulation S promulgated under the 1933 Act or other applicable exemption.

	
  

	
2.

	
Closing.  At the closing, the Company will deliver to the Purchaser the Note and the Purchase Price shall be paid by the Purchaser via wire transfer of immediately available funds to an account designated by the Company. The closing shall be held on such date as the parties may agree upon (the “Closing” and the “Closing Date”) at the offices of Ofsink, LLC, 900 Third Avenue, 5th Floor, New York, New York 10022, U.S.A., at 10:00 a.m., or at such other location or by such other means upon which the parties may agree; provided, that all of the conditions set forth in Section 2 hereof and applicable to the Closing shall have been fulfilled or waived in accordance herewith.

	
  

	
3.

	
Representations, Warranties and Covenants of the Company. The Company represents and warrants to the Purchaser, as of the date hereof, as follows:

	
  

	
(a)

	
Organization and Standing. The Company is a duly organized corporation, validly existing and in good standing under the laws of the State of Nevada, has full power to carry on its business as and where such business is now being conducted and to own, lease and operate the properties and assets now owned or operated by it and is duly qualified to do business and is in good standing in each jurisdiction where the conduct of its business or the ownership of its properties requires such qualification.

	
  

	
(b)

	
Authorization and Power. The execution, delivery and performance of this Agreement and the consummation of the transaction contemplated hereby have been duly authorized by the Board of Directors of the Company. The Agreement has been (or upon delivery will be) duly executed by the Company is or, when delivered in accordance with the terms hereof, will constitute, assuming due authorization, execution and delivery by each of the parties thereto, the valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

  

 

  

 

	
  

	
(c)

	
No Conflict.  The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby do not (i) violate or conflict with the Company’s Certificate of Incorporation, By-laws or other organizational documents, (ii) conflict with or result (with the lapse of time or giving of notice or both) in a material breach or default under any material agreement or instrument to which the Company is a party or by which the Company is otherwise bound, or (iii) violate any order, judgment, law, statute, rule or regulation applicable to the Company, except where such violation, conflict or breach would not have a Material Adverse Effect on the Company.  This Agreement when executed by the Company will be a legal, valid and binding obligation of the Company enforceable in accordance with its terms (except as may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws and equitable principles relating to or limiting creditors’ rights generally).

	
  

	
(d)

	
Authorization.  Issuance of the Note to Purchasers has been duly authorized by all necessary corporate actions of the Company.

 

	
  

	
(e)

	
Litigation and Other Proceedings. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the Company, threatened against the Company at law or in equity before or by any court or Federal, state, municipal or their governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign which could materially adversely affect the Company. The Company is not subject to any continuing order, writ, injunction or decree of any court or agency against it which would have a material adverse effect on the Company.

 

	
  

	
(f)

	
Use of Proceeds.  The proceeds of this Offering and sale of the Note, net of payment of placement expenses, will be used by the Company for working capital and other general corporate purposes.

 

	
  

	
(g)

	
Consents/Approvals.  No consents, filings (other than Federal and state securities filings relating to the issuance of the Note pursuant to applicable exemptions from registration, which the Company hereby undertakes to make in a timely fashion), authorizations or other actions of any governmental authority are required to be obtained or made by the Company for the Company’s execution, delivery and performance of this Agreement which have not already been obtained or made or will be made in a timely manner following the Closing.

 

	
  

	
(h)

	
No Commissions.  The Company has not incurred any obligation for any finder’s, broker’s or agent’s fees or commissions in connection with the transaction contemplated hereby.

 

  

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(i)

	
Disclosure. No representation or warranty by the Company in this Agreement, the Agreement, nor in any certificate, Schedule or Exhibit delivered or to be delivered pursuant to this Agreement or the Transaction Documents: contains or will contain any untrue statement of material fact or omits or will omit to state a material fact necessary to make the statements contained herein or therein not misleading.  To the knowledge of the Company and its subsidiaries at the time of the execution of this Agreement, there is no information concerning the Company and its subsidiaries or their respective businesses which has not heretofore been disclosed to the Purchasers that would have a Material Adverse Effect.

 

	
  

	
(j)

	
Compliance with Laws. The business of the Company and its subsidiaries has been and is presently being conducted so as to comply with all applicable material federal, state and local governmental laws, rules, regulations and ordinances.

 

	
  

	
4.

	
Purchaser Representations, Warranties and Agreements. The Purchaser hereby acknowledges, represents and warrants as follows:

	
  

	
(a)

	
Organization; Authority.  Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite corporate or partnership power and authority to enter into and to consummate the transactions contemplated by the applicable Documents and otherwise to carry out its obligations thereunder. The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement has been duly authorized by all necessary corporate or, if such Purchaser is not a corporation, such partnership, limited liability company or other applicable like action, on the part of such Purchaser.  Each of this Agreement and other Documents has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

	
  

	
(b)

	
Investment Intent.  Such Purchaser is acquiring the Note as principal for its own account for investment purposes only and not with a view to or for distributing or reselling such Note or any part thereof, without prejudice, however, to such Purchaser’s right at all times to sell or otherwise dispose of all or any part of such Note in compliance with applicable federal and state securities laws.  Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation or warranty by such Purchaser to hold the Note for any period of time.  Such Purchaser is acquiring the Note hereunder in the ordinary course of its business. Such Purchaser does not have any agreement or understanding, directly or indirectly, with any Person to distribute any of the Securities.

 

  

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(c)

	
Purchaser Status.

 

	
  

	
(i)

	
The Purchaser agrees and acknowledges that it was not, a “U.S. Person” (as defined below) at the time the Purchaser was offered the Note and as of the date hereof:

	 	
(A) 

	
Any natural person resident in the United States;

	
  

	
(B)

	
Any partnership or corporation organized or incorporated under the laws of the United States;

	
  

	
(C)

	
Any estate of which any executor or administrator is a U.S. person;

	 	
(D) 

	
Any trust of which any trustee is a U.S. person;

	
  

	
(E)

	
Any agency or branch of a foreign entity located in the United States;

	
  

	
(F)

	
Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person;

	
  

	
(G)

	
Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident of the United States; and

	
  

	
(H)

	
Any partnership or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction and (ii) formed by a U.S. person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized or incorporated, and owned, by accredited Purchasers (as defined in Rule 501(a) of Regulation D promulgated under the 1933 Act) who are not natural persons, estates or trusts.

“United States” or “U.S.” means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia.

 

  

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(ii)

	
The Purchaser understands that no action has been or will be taken in any jurisdiction by the Company that would permit a public offering of the Note in any country or jurisdiction where action for that purpose is required.

	
  

	
(iii)

	
The Purchaser (i) as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing the Note for the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from the registration requirements of the 1933 Act or in a transaction not subject thereto.

	
  

	
(iv)

	
The Purchaser will not resell the Securities except in accordance with the provisions of Regulation S (Rule 901 through 905 and Preliminary Notes thereto), pursuant to a registration statement under the 1933 Act, or pursuant to an available exemption from registration; and agrees not to engage in hedging transactions with regard to such securities unless in compliance with the 1933 Act.

	
  

	
(v)

	
The Purchaser will not engage in hedging transactions with regard to Note of the Company prior to the expiration of the distribution compliance period specified in Category 2 or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 of Regulation S, as applicable, unless in compliance with the 1933 Act; and as applicable, shall include statements to the effect that the securities have not been registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons (other than distributors) unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act is available.

	
  

	
(vi)

	
No form of “directed selling efforts” (as defined in Rule 902 of Regulation S under the 1933 Act), general solicitation or general advertising in violation of the 1933 Act has been or will be used nor will any offers by means of any directed selling efforts in the United States be made by the Purchaser or any of their representatives in connection with the offer and sale of the Note.

	
  

	
(d)

	
General Solicitation.  Such Purchaser is not purchasing the Note as a result of any advertisement, article, notice or other communication regarding the Note published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

	
  

	
(e)

	
Access to Information.  Such Purchaser acknowledges that it has reviewed the disclosure materials and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Note and the merits and risks of investing in the Note; (ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.  Neither such inquiries nor any other investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend or affect such Purchaser’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties contained in the Transaction Documents.

 

  

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(f)

	
Independent Investment Decision.  Such Purchaser has independently evaluated the merits of its decision to purchase the Note pursuant to the Agreement, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business and/or legal counsel in making such decision.  Such Purchaser has not relied on the business or legal advice of the Company or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that none of such Persons has made any representations or warranties to such Purchaser in connection with the transactions contemplated by the Transaction Documents.

	
  

	
5.

	
Miscellaneous

	
  

	
(a)

	
Confidentiality.  The Purchaser covenants and agrees that it will keep confidential and will not disclose or divulge any confidential or proprietary information that such Purchaser may obtain from the Company pursuant to financial statements, reports, and other materials submitted by the Company to such Purchaser in connection with this offering or as a result of discussions with or inquiry made to the Company, unless such information is known, or until such information becomes known, to the public through no action by the Purchaser; provided, however, that a Purchaser may disclose such information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary in connection with his or her investment in the Company so long as any such professional to whom such information is disclosed is made aware of the Purchaser’s obligations hereunder and such professional agrees to be likewise bound as though such professional were a party hereto, (ii) if such information becomes generally available to the public through no fault of the Purchaser, or (iii) if such disclosure is required by applicable law or judicial order.

	
  

	
(b)

	
Successors.  The covenants, representations and warranties contained in this Agreement shall be binding on the Purchaser’s and the Company’s heirs and legal representatives and shall inure to the benefit of the respective successors and assigns of the Company.  The rights and obligations of this Subscription Agreement may not be assigned by any party without the prior written consent of the other party.

	
  

	
(c)

	
Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which together shall constitute one and the same instrument.

	
  

	
(d)

	
Execution by Facsimile.  Execution and delivery of this Agreement by facsimile transmission (including the delivery of documents in Adobe PDF format) shall constitute execution and delivery of this Agreement for all purposes, with the same force and effect as execution and delivery of an original manually signed copy hereof.

 

  

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(e)

	
Governing Law and Jurisdiction.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts to be wholly performed within such state and without regard to conflicts of laws provisions. Any legal action or proceeding arising out of or relating to this Subscription Agreement and/or the Offering Documents may be instituted in the courts of the State of New York sitting in New York County or in the United States of America for the Southern District of New York, and the parties hereto irrevocably submit to the jurisdiction of each such court in any action or proceeding.  Purchaser hereby irrevocably waives and agrees not to assert, by way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Subscription Agreement and/or the Offering Documents and brought in any such court, any claim that Purchaser is not subject personally to the jurisdiction of the above named courts, that Purchaser’s property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.

	
  

	
(f)

	
Notices.  All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission if such transmission is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery, to the following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party shall subsequently designate in writing to the other party):

	 	
(i)

	
if to the Company:

Greenpro, Inc.

Attn: Chang Kuang Lee

9/F Kam Chung Comm. Building

19-21 Hennessy Road

Wanchai, Hong Kong

  

	 	
(ii)

	
if to the Purchasers:

To the addresses set forth on the signature pages.

	 	
(g)

	
Entire Agreement.  This Agreement (including the Exhibits attached hereto) and other Transaction Documents delivered at the Closing pursuant hereto, contain the entire understanding of the parties in respect of its subject matter and supersede all prior agreements and understandings between or among the parties with respect to such subject matter.  The Exhibits constitute a part hereof as though set forth in full above.

 

  

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(h)

	
Amendment; Waiver.  This Agreement may not be modified, amended, supplemented, canceled or discharged, except by written instrument executed by the Company and the Purchasers of not less than a majority of the principal amount of the Notes.  No failure to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other right, power or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any proceeding or succeeding breach of the same or any other provision, nor shall any waiver be implied from any course of dealing between the parties.  No extension of time for performance of any obligations or other acts hereunder or under any other agreement shall be deemed to be an extension of the time for performance of any other obligations or any other acts.  The rights and remedies of the parties under this Agreement are in addition to all other rights and remedies, at law or equity, that they may have against each other.

	
  

	
(i)

	
Severability.  If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

[SIGNATURE PAGE FOLLOWS]

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	COMPANY:	
Greenpro, Inc.

	 
	 	 	 	 
	 	
By: 

	/s/ Lee Chong Kuang 	 
	 	Name:	
Lee Chong Kuang

	 
	 	Title:	

Chief Executive Officer

	 

 

	PURCHASER:	/s/ Loke Che Chan, Gilbert	 
	 	Loke Che Chan, Gilbert	 
	 	 	 
	 	

Address:

7A Lechler Court, 97 High Street

Sai Ying Pun, Hong Kong

 

Telephone and Email:

	 
	 	 	 
	 	 	 

 

  

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Exhibit A

8% CONVERTIBLE PROMISSORY NOTE

 

For U.S. Investors:

[THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).  THESE SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE, FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY.  HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.]

For Non-U.S. Investors:

[THESE SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO REGULATION S PROMULGATED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).  ACCORDINGLY, NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT.]

 

  

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GREENPRO, INC.

 

 (A Nevada Corporation)

 

8% CONVERTIBLE NOTE

DUE January 28, 2014

	
Original Issuance Date: August 12, 2013

	
US$41,250

(Equivalent to HK$320,000)

 

FOR VALUE RECEIVED, Greenpro, Inc., a Nevada corporation (the “Company”), hereby unconditionally promises to pay to Loke Che Chan, Gilbert  (together with its registered assigns, the “Holder”) on January 28, 2014 (the “Maturity Date”) the principal sum of Forty-one Thousand Two Hundred and Fifty UNITED STATES DOLLARS (U.S.$41,250) [Equivalent to HK$320,000] (the “Principal”), and to pay to the Holder interest on the unpaid principal amount of this Note as provided in Article I hereof.

 

ARTICLE I

Section 1.1            Definitions.  The following terms shall have the meanings set forth below:

“Business Day” means a day other than Saturday, Sunday or any day on which banks located in the Province of Ontario are authorized or obligated to close.

“Conversion Price” means $$0.00825 per share.

“Dollars” and “$” means lawful money of the United States of America.

 

“Note” means this 8% Convertible Promissory Note of the Company issued to the Holder, as modified and supplemented and in effect from time to time.

“Person” means any person or entity of any nature whatsoever, specifically including an individual, a firm, a company, a corporation, a partnership, a limited liability company, a trust or other entity.

“Stock” means the Company’s $.0001 par value per share common stock.

ARTICLE II

Section 2.1            Principal.  Subject to Section 5.1 herein, the entire unpaid principal amount of this Note shall be paid on the Maturity Date.  Promptly following the payment in full of this Note, the Holder shall surrender this Note to the Company for cancellation.

Section 2.2            Interest.  Interest shall accrue (on a compounded basis) on the daily unpaid principal amount of this Note, for each day during the period from and including the date hereof (the “Commencement Date”) to but excluding the date such Note shall be paid in full, at a rate of eight percent (8%) per annum (the “Interest Rate”) and shall be payable on the Maturity Date.

 

  

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ARTICLE III

Section 3.1            Payments Generally.  All payments of principal and interest to be made by the Company in respect of this Note shall be made in Dollars by delivery to the Holder, at the address the Holder provides to the Company, not later than 12:00 noon New York time on the date on which such payment shall be due.  If the due date of any payment in respect of this Note would otherwise fall on a day that is not a Business Day, such due date shall be extended to the next succeeding Business Day, and interest shall be payable on any principal so extended for the period of such extension.  All payments by the Company under this Note will be made without setoff or counterclaim and free and clear of, and without deductions for, any taxes, fees or other expenses or claims of any kind.

 

Section 3.2            Prepayments.  At any time, and from time to time, the Company may, at its option, prepay this Note (in an amount up to but not exceeding the unpaid principal amount hereof and any accrued interest hereon) in whole or in part without premium or penalty.

ARTICLE IV

Section 4.1            Conversion Privilege.  Until this Note is paid in full, Holder may, at its option, convert all or any portion of the outstanding principal balance of, and all accrued interest on, this Note, into the number of shares of Stock obtained by dividing (i) the unpaid principal amount and interest due on this Note, by (ii) the Conversion Price of Stock.

 

Section 4.2            Conversion Procedure.  To convert this Note pursuant to this Article IV, the Holder must  (i) complete and sign the “Form of Election to Convert” (ii) complete and sign subscription documents reasonably requested by the Company and (iii) if the conversion is of the entire unpaid principal of, and interest on, this Note, then surrender this Note to the Company.  As promptly as practicable after delivery of an Election to Convert in accordance with this Section 4.2, the Company shall issue and deliver to Holder, a certificate or certificates for the full number of whole Shares issuable upon the conversion of this Note in accordance with the provisions of this Article IV.

 

Section 4.3            Investment Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in the Securities Purchase Agreement and may be transferred or exchanged only in compliance with the Securities Purchase Agreement and applicable federal and state securities laws and regulations.

Section 4.4            Reservation of Shares; Shares to be Fully Paid.  The Company shall reserve, out of its authorized but unissued Shares, sufficient Shares to provide for the conversion of the entire Note.  The Company covenants that all Shares which may be issued upon conversion of this Note will, upon issuance, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance and delivery thereof.

 

  

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ARTICLE V

Section 5.1            Event of Default.  "Event of Default", wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

(a)           default in the payment of any interest in respect of this Note within ten (10) Business Days after it becomes due and payable; or

(b)           default in the payment of the outstanding principal amount of this Note at its Maturity Date; or

(c)           the entry of a decree or order by a court having jurisdiction in the premises adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under Federal bankruptcy law or any other applicable Federal or state law, or appointing a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of the property of the Company, or ordering the winding up or liquidation of the affairs of the Company; or

(d)           the institution by the Company of proceedings to be adjudicated a bankrupt or insolvent, or the consent by the Company to the institution of bankruptcy or insolvency proceedings against it, or the filing by the Company of a petition or answer or consent seeking reorganization or relief under Federal bankruptcy law or any other applicable Federal or state law, or the consent by the Company to the filing of such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any substantial part of the property of the Company, or the making by the Company of an assignment for the benefit of creditors, or the admission by the Company in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action.

Section 5.2            Acceleration of Note.  If an Event of Default occurs and is continuing, then and in every such case the Holder may declare the outstanding principal amount of this Note (including accrued interest as provided in Article III hereof) to be due and payable immediately, by a notice in writing to the Company, and upon any such declaration such principal shall become immediately due and payable.  Notwithstanding the foregoing, if an Event of Default referenced in paragraph (c) or paragraph (d) of Section 5.1 occurs, the outstanding principal amount of this Note (including accrued interest as provided in Article III hereof) shall automatically become due and payable immediately without any declaration or other action on the part of the Holder.  At any time after the outstanding principal amount of this Note shall become immediately due and payable and before a judgment or decree for payment of the money due has been obtained, the Holder, by written notice to the Company, may rescind and annul any acceleration and its consequences.

 

  

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ARTICLE VI

Section 6.1            Governing Law; Jurisdiction.  This Note shall be governed by, and construed in accordance with, the laws of the State of Nevada, without regard to the conflicts of laws provisions thereof.  The Company hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Courts of the State of Nevada in any action or proceeding arising out of or relating to this Note, or for recognition or enforcement of any judgment, and hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in the State of Nevada.  The Company hereby agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  The Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Note in any court referred to above, and hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.  The Company irrevocably consents to service of process in the manner provided for notices below.  Nothing in this Agreement will affect the right of the Holder to serve process in any other manner permitted by law.

Section 6.2            Successors.  All agreements of the Company in this Note shall bind its successors and permitted assigns.  This Note shall inure to the benefit of the Holder and its permitted successors and assigns.  The Company shall not delegate any of its obligations hereunder without the prior written consent of Holder.

Section 6.3            Amendment, Modification or Waiver.  No provision of this Note may be amended, modified or waived except by an instrument in writing signed by the Company and the Holder.

Section 6.4            Legend.  This Note, and any note issued in exchange or substitution for this Note, shall bear the legend appearing on the first page hereof.

Section 6.5            Delay or Omission Not Waiver.  No failure or delay on the part of the Holder in the exercise of any power, right, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any right, power or privilege.  All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

[Signature Page Follows]

 

  

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IN WITNESS WHEREOF, the Company has caused this Note to be duly executed by an authorized officer thereof as of the date and year first above written.

 

	 	
Greenpro, Inc.

	 
	 	 	 	 
	 	
By: 

	 	 
	 	Name:	

Lee Chong Kuang

	 
	 	Title:	

Chief Executive Officer

	 

 

  

15

  

 

NOTICE OF ELECTION TO CONVERT

(To be Executed by the Registered Holder in order to Convert the Note)

The undersigned holder hereby irrevocably elects to convert $____________ of the principal and interest of the Note into _______ shares of common stock of Greenpro, Inc. (the “Company”) pursuant to the Convertible Promissory Note issued by the Company due________, 2014 according to the conditions set forth in said note and as of the date set forth below.

Date of Conversion:

 

Signature:

[Name]

Address:

 

 

16THIS
CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT FOR DISTRIBUTION AND MAY BE TRANSFERRED OR
OTHERWISE DISPOSED OF ONLY IN COMPLIANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). THIS LEGEND SHALLBE
ENDORSED UPON ANY CONVERTIBLE PROMJSSORY NOTE ISSUEDIN EXCHANGE FOR THIS CONVERTIBLE PROMISSORY NOTE.

 

THIS
NOTE IS ISSUED TO THE HOLDER PURSUANT TO THE ASSIGNMENT AND ASSUMPTION AGREEMENT DATED APRIL 1, 2014, WHEREBY THE HOLDER ACQUIRED
A PORTION ($60,000) OFDEBT DUE BY THE ISSUER TO ICG USA, LLC EVIDENCED BY A CERTAIN CONVERTIBLE PROMISSORY NOTE ISSUED ON FEBRUARY
16, 2012 IN THE ORIGINAL PRINCIPAL AMOUNT OF $200,000 AND WHICH INCLUSIVE OF ACCRUED AND UNPAID INTEREST EQUALS $ ----- AS OF
DATE HEREOF (THE "ICG NOTE") (A COPY OF THE ICG NOTE IS ATTACHED HERETO

 

NYXIO
TECHNOLOGIES CORP.

 

	ISSUE DATE: APRIL 1, 2014	$60,000.00

 

CONVERTIBLE
PROMISSORY NOTE

 

Due:
February 20, 2015

 

NYXIO
TECHNOLOGIES CORP. a Nevada corporation (the "Company"),for value received, hereby promises to pay to TIDE POOL
VENTURE CORPORATION (the "Holder") on the 20th day of February, 2015 (the "Maturity Date'') at the offices
of the Company, 2156 NE Broadway, Portland, Oregon 97232 the principal sum of SIXTY THOUSAND DOLLARS ($60,000.00) in such
coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and
private debts and to pay simple interest on said principal sum at the rate of 10% per annum from the date hereof through the Maturity
Date. Any accrued and unpaid interest shall be paid on the Maturity Date.

 

1.                  
Registered Owner. The Issuer may consider and treat the person in whose name this Note shall be registered as the
absolute owner thereof for all purposes whatsoever (whether or not this Note shall be overdue) and the Issuer shall not be affected
by any notice to the contrary. Subject to the provisions hereof, the registered owner of this Note shall have the right to transfer
it by assignment and the transferee thereof, upon his registration as owner of this Note, shall become vested with all the powers
and rights of the transferor. Registration of any new owner shall take place upon presentation of this Note to the Issuer at its
offices together with the Note Assignment Form attached hereto duly executed. In case of transfers by operation of law, the transferee
shall notify the Issuer of such transfer and of his address, and shall submit appropriate evidence regarding the transfer so that
this Note may be registered in the name of the transferee. This Note is transferable only on the books of the Issuer by the Holder
on the surrender hereof, duly endorsed. Communications sent to any registered owner shall be effective as against all holders
or transferees of this Note not registered at the time of sending the communication. In the event of the assignment by the Holder
of a portion of the principal amount of this Note, the transferee thereof shall not have the right to exercise the Conversion
Right (as hereinafter defined) unless the entire remaining principal portion of this Note is converted simultaneously therewith.

 

		2.	Conversion.

 

2.1 Conversion
Right. The Holder shall have the right from time to time and at any time during the period commencing on the Issue Date
and ending the later of (i) the Maturity Date and (ii) the date of payment of the remaining outstanding principal amount, plus
any accrued and unpaid interest of this Note, to convert the outstanding and unpaid principal amount of this Note (each a "Conversion")
into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital
stock or other securities of the Issuer into which such Common Stock shall hereafter be changed or reclassified at the conversion
price (the "Conversion Price") determined as provided herein (a“Conversion");provided, however,
that in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon
conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other
than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes
or the unexercised or unconverted portion of any other security of the Issuer subject to a limitation on conversion or exercise
analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the
portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial ownership
by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to
the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act '), and Regulations 130-G thereunder, except as otherwise provided in
clause (1) of such proviso provided further however, that the limitations on conversion may be waived by the Holder upon,
at the election of the Holder, not less than 61 days' prior notice to the Issuer, and the provisions of the conversion limitation
shall continue to apply until such 61st day (or such later date, as determined by the Holder, as may be specified in such notice
of waiver). The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing
the Conversion Amount (as defined below) by the applicable Conversion Price then in effect on the date specified in the notice
of conversion, in the form attached hereto as Exhibit A (the "Notice of Conversion"), delivered to the Issuer
by the Holder in accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail
(or by other means resulting in, or reasonably expected to result in notice) to the Issuer before 6:00 p.m., New York, New York
time on such conversion date (the "Conversion Date"). The term "Conversion Amount" means with respect
to any conversion of this Note, the sum of (1)the principal amount of this Note to be converted in such conversion plus (2)
at the Issuer's option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note
to the Conversion Date.

 

2.2 Conversion
Price. The Conversion Price (the "Conversion Price") shall equal the Variable Conversion Price (as defined herein)
(subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Issuer relating to the Issuer's
securities or the securities of any subsidiary of the Issuer, combinations, recapitalization, reclassifications, extraordinary
distributions and similar events). The "Variable Conversion Price” shall mean 50% multiplied by the Market Price
(as defined herein) (representing a discount rate of 50%). "Market Price” means the average of the lowest three
(3) Trading Prices (as defined below) for the Common Stock during the five (5) Trading Day period ending one Trading Day prior
to the date the Conversion Notice is sent by the Holder to the Issuer via facsimile (the "Conversion Date").
"Trading Price" means for any security as of any date, the prices of the security on the Over-the-Counter Bulletin
Board (the "OTCBB") as reported by a reliable reporting service ("Reporting Service") mutually
acceptable to Issuer and Holder, or, if the OTCBB is not the principal trading market for such security, the price of such security
on the principal securities exchange or trading market where such security is listed or traded or if no price of such security
is available in any of the foregoing manners, the average of the Trading prices of any market makers for such security that are
listed in the "pink sheets" by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such
security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by
the Issuer and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price
is required in order to determine the Conversion Price of such Notes. "Trading Day" shall mean any day on which
the Common Stock is traded for any period on the OTCBB, or on the principal securities exchange or other securities market on
which the Common Stock is then being traded.

 

    	 

    	 

    

 

2.3
Anti-Dilution Provisions.

 

2.3.1
Adjustments for Stock Dividends; Combinations, Etc. In the event that the Issuer, at any time or from time to time
hereafter, shall (i) declare any dividend or other distribution on its Common Stock payable in Common Stock of the Issuer or in
securities convertible into or exchangeable for Common Stock, including without limitation rights; (ii) effect a subdivision of
its outstanding Common Stock into a greater number of shares of Common Stock by reclassification, stock split or otherwise than
by payment of a dividend in shares of Common Stock; (iii) effect a combination or consolidation of its outstanding Common Stock
into a lesser number of shares of Common Stock by reclassification, reverse split or otherwise;(iv) issue by reclassification
exchange or substitution of its Common Stock any shares of capital stock of the Issuer; or (v) effect any other transaction having
similar effect, then the Holder may convert into the exchangeable securities. The purpose of the adjustment shall be that, in
the event of a conversion at any time after the occurrence of any event described in (i) through (v) above, the Holder shall be
entitled to receive the shares of Conversion Stock (or other securities) to which such Holder would have been finally entitled,
after giving effect to the occurrence of such event, as if such Holder had converted this Note immediately prior to the occurrence
of such event. An adjustment made pursuant to this Section 2.3.1 shall become effective immediately after the record date in the
case of a dividend or other distribution and shall become effective immediately upon the effective date in the case of a subdivision,
combination, reclassification, exchange or substitution. The Corporation shall take no such action with respect to the Common
Stock unless the Corporation shall simultaneously reserve out of the authorized, unissued and unreserved shares of common stock
a sufficient number of shares of Common Stock to be available for full conversion of the Note at the new Conversion Price.

 

2.3.2
Adjustment for Consolidation or Merger. In case of any consolidation or merger to which the Issuer is a party, other
than a merger or consolidation in which the Issuer is the surviving or continuing corporation and which does not result in any
reclassification of, or change (other than a change in par value or from par value to no par value or from no par value to par
value, or as a result of a subdivision or combination) in outstanding Common Stock, then as part of and as a condition to such
transaction, provision shall be made so that, in the event of a conversion, the Holder of this Note, shall receive, in lieu of
the securities and property receivable upon the conversion of this Note prior to consummation of the transaction, the kind and
amount of shares or other securities and property receivable upon such consolidation or merger by a holder of the number of shares
of Common Stock into which t11is Note would have been converted immediately prior to such consolidation or merger had the conversion
occurred, all subject to further adjustment as provided in Section 2.3.l; in each such case, the terms of this Note shall be applicable
to the securities or property receivable upon the conversion of this Note after such consummation. In any such case, appropriate
adjustment shall be made in the application of this Section 2 with respect to the rights of the Holder of this Note after the
transaction to the end that the provisions of this Section 2 shall be applicable after that event. The Corporation shall take
no such action with respect to the Common Stock unless the Corporation shall simultaneously reserve out of the authorized, unissued
and unreserved shares of such class or series into which the Common Stock has been changed a sufficient number of shares of such
class or series into which the Common Stock has been changed to be available for full conversion of the Note at the new Conversion
Price.

 

2.4
Reservation of Shares. The Issuer will at all times reserve and keep available out of its authorized and unissued
Common Stock, solely for issuance and delivery upon conversion of this Note, free of preemptive or rights of purchase, the number
of shares of Conversion Stock issuable upon conversion of this Note at the minimum Conversion Price. The Issuer covenants that
all shares of Common Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid
and non assessable. . The initial reserve of shares is 480,000,000, which may be increased automatically in the event the initial
reserve is exhausted.

 

2.5
Fractional Shares. The Issuer shall not be required to issue certificates representing fractions of shares, nor
shall it be required to issue scrip or pay cash in lieu of fractional interests, it being the intent of the Issuer and the Holder
that all fractional interests shall be eliminated and that all issuances of Common Stock be rounded up to the nearest whole share.

 

2.6Rights
of the Holder. The Holder shall not, by virtue hereof, be entitled to any rights of a shareholder of the Issuer, either
at law or in equity, and the rights of the Holder are limited to those expressed in this Note.

 

2.7
Certificate. When the Conversion Price is adjusted pursuant to the provisions hereof, the Issuer shall file with
its official corporate records a certificate of its chief financial or accounting officer setting forth in detail the facts requiring
such adjustment, the computation thereof and the adjusted Conversion Price, and shall mail a copy of the certificate to the Holder.

 

2.8
DTC Status. The Company's Common Stock are currently eligible for DTC book-entry delivery, settlement and depository
services and accordingly are not subject to a deposit transfer restriction ("Deposit Chill"). In the event, the Company'
s Common Stock becomes subject to a Deposit Chill, the Variable Conversion Rate shall be amended to 35% multiplied by the Market
Price (as defined herein) (representing a discount rate of 65%).

 

2.9
 Short Sales. Other than the transaction contemplated hereunder, the Investor has not directly or indirectly,
nor has any Person acting on behalf of or pursuant to any understanding with such Investor, executed any disposition, including
Short Sales, in the securities of the Company during the period commencing from the time that such Investor first received a term
sheet (written or oral) from the Company. In addition the Investor shall not engage in Short Sales of the Company's in the future.
"Short Sales" shall include all "short sales”, as defined in Rule 200 of Regulation SHO under the Exchange
Act (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock).

 

2.10
Delivery of Common Stock Upon Convention. Upon receipt by the Borrower from the Holder of a facsimile transmission
or e-mail (or other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided
in this Section 2.10, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder
certificates for the Common Stock issuable upon such conversion within three (3) business days after such receipt (the "Deadline")
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with
the terms hereof and the Purchase Agreement.

 

2.11
Obligation of Borrower to Deliver Common Stock. Upon receipt by the Borrower of a Notice of Conversion the Holder
shall be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount
and the amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower
defaults on its obligations under this Note, all rights with respect to the portion of this Note being so converted shall forthwith
terminate except the right to receive the Common Stock or other securities, cash or other assets as herein provided, on such conversion.
If the Holder shall have given a Notice of Conversion as provided herein, the Borrower's obligation to issue and deliver the certificates
for Common Stock shall be absolute and unconditional , irrespective of the absence of any action by the Holder to enforce the
same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any person or any action
to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record,
or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation
to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the
Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall be the Conversion Date
so long as the Notice of Conversion is received by the Borrower before 6:00 p.m., New York, New York time, on such date.

 

    	2

    	 

    

 

2.12
Delivery of Common Stock by Electronic Transfer. Jn lieu of delivering physical certificates representing the Common
Stock issuable upon conversion, provided the Borrower is participating in the Depository Trust Company ("DTC") Fast
Automated Securities Transfer ("FAST")program ,upon request of the Holder and its compliance with the provisions contained
in this Note, the Borrower shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock
issuable upon conversion to the Holder by crediting the account of Holders Prime Broker with DTC through its Deposit Withdrawal
Agent Commission ("DW AC") system.

 

2.13
Failure to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder's right to pursue other
remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon
conversion of this Note is not delivered by the Deadline, the Borrower shall pay to the Holder $2,000 per day in cash for each
day beyond the Deadline that the Borrower fails to deliver such Common Stock through willful or deliberate acts on the part of
the Borrower. Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued
or, at the option of the Holder (by written notice to the Borrower by the first day of the month following the month in which
it has accrued), shall be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance
with the terms of this Note and such additional principal amount shall be convertible into Common Stock in accordance with the
terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from
a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify. Accordingly
the parties acknowledge that the liquidated damages provision contained in this Section 2.13 are justified.

 

3.
Redemption.The Borrower shall have no right of prepayment.

 

4. Defaults.
If any one or more of the following shall (Events of Default) shall occur:

 

(a)the
Issuer shall (i) admit in writing its inability to pay its debts generally as they mature;(ii) make a general assignment for the
benefit of creditors; (iii) fail or be unable to pay its debts as they mature iv) be adjudicated a bankrupt or insolvent; (v)
file a voluntary petition in bankruptcy or a petition or an answer seeking an arrangement with creditors;

(vi)
take advantage of any bankruptcy, insolvency or readjustment of debt law or statute or file an answer admitting the material allegations
of a petition filed against it in any proceeding under any such law; (vii) apply for or consent to the appointment of a receiver,
trustee or liquidation for all or a substantial portion of its assets; (viii) have an involuntary case commenced against it under
the Federal bankruptcy laws, which case is not dismissed or stayed within thirty (30) days; or

(viii)
fail to pay its taxes on a timely basis; ix) violate any covenant provided for in this Note, and such violation shall continue
unremedied for a period of fifteen (15)days following the giving of written notice thereof from the Holder;

 

(b)        
any judgment is entered against the Issuer which is not bonded or discharged within 30 days, The Issuer.

 

(c)
A levy of any sort is made on or against some or all of the assets of the Issuer.

 

(d)        
the sale, transfer, assignment or disposition of any of the Issuer's assets that are material to the business and/or operations
of the Issuer's business.

 

then,
at any time thereafter and unless such Event of Default shall have been cured or shall have been waived in writing by the Holder
(which waiver shall not be deemed a waiver of any subsequent default), at the option of the Holder and in the Holder's sole discretion,
the Holder may, by written notice to the Issuer, declare the entire unpaid principal amount of this Note then outstanding, together
with accrued interest thereon, to be forthwith due and payable, whereupon the same shall become forthwith due and payable.

 

(e)         
Upon an event of default the Debenture will become immediately due and payable in an amount in cash (the "Default Prepayment
Amount") equal to 150%, multiplied by the sum of: (w) the then outstanding principal amount of this Debenture plus (x) accrued
and unpaid interest on the unpaid principal amount of this Debenture to the Default Date plus (y) Default Interest, if any, on
the amounts referred to in clauses (w) and (x) plus (z) hereof.

 

 

5.       
Investment Intent.The Holder, by its acceptance hereof, hereby represents and warrants that this Note is being
acquired, and the Common Stock issuable upon the conversion of this Note will be acquired, for investment purposes only and without
a view to the distribution thereof, and may be transferred only in compliance with the Act. Unless, prior to the conversion of
this Note, the issuance of the Common Stock has been registered with the Securities and Exchange Commission pursuant to the Act,
the Note Conversion Form shall be accompanied by a representation of the Holder to the Issuer to the effect that such securities
are being acquired for investment and not with a view to the distribution thereof, and such other representations and documentation
as may be reasonably required by the Issuer, unless in the opinion of counsel to the Issuer such representations or other documentation
are not necessary to comply with the Act.

 

6.                
Default Rate of Interest; Costs of Collection. In the event the Issuer shall default in the payment of this Note
when due, then (i) effective with such date of default, the interest rate payable hereunder shall be increased to eighteen percent
{18%) per annum and (ii) the Issuer agrees to pay, in addition to unpaid principal and interest, all the costs and expenses incurred
in effecting collection hereunder or enforcing the terms of this Note, including reasonable attorneys' fees.

 

7.                
Applicable Law. This Note is issued under and shall for all purposes be governed by and construed in accordance
with the laws of the State of New York.

 

8.                
Notices. Any notice required or permitted to be given pursuant to this Note shall be deemed to have been duly given
when delivered by hand or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or
telecopier as follows:

 

    	3

    	 

    

 

If
to the Holder:

 

Tide
Pool Ventures Corporation

326
Pacific Coast Highway, Suite 207 

Redondo
Beach, California 90277

Attn:
Todd Violette

 

If
to the Company:

 

Nyxio
Technologies Corp. 

2156
NE Broadway

Portland,
Oregon 97232 

Attention:
Giorgio Johnson

 

or
at such other address as the Holder or the Issuer shall designate by notice to the other given in accordance with this Section
8.

 

9.                
Miscellaneous .This Note constitutes the rights and obligations of the Holder and the Issuer. No provision of this
Note may be modified except by an instrument in writingsigned by the party against whom the enforcement of any modification is
sought.

 

The
Issuer shall not take any action that would impair the rights and privileges of the Holder herein or avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed hereunder by the Issuer, but will at all times act in
good faith to assist in carrying out the provisions of this Note, including the Conversion rights provided in paragraph 2 herein
and will take all such action as may be necessary or appropriate in order to protect the conversion rights of the Holder of the
Note.

 

The
waiver by the Holder of a breach of any provision of this Note shall not operate or be construed as a waiver of any subsequent
breach.

 

If
any provision, or part thereof, of this Note shall be held to be invalid or unenforceable, such invalidity or unenforceability
shall attach only to such provision and shall not in any way affect or render invalid or unenforceable any other provisions of
this Note and this Note shall be carried out as if such invalid or unenforceable provision, or part thereof, had been reformed,
and any court of competent jurisdiction is authorized to so reform such invalid or unenforceable provision, or part thereof, so
that it would be valid, legal and enforceable to the fullest extent permitted by applicable law.

 

In
no event shall the rate of interest payable hereunder exceed the maximum rate permitted by applicable law.

 

No
provision of this Note shall alter or impair the absolute and unconditional obligation of the Issuer to pay the principal of,
and interest on, this Note in accordance with the provisions hereof.

 

The
Issuer agrees that irreparable damage would occur in the event that any of the provisions of this Note were not performed in accordance
with their specific terms or were otherwise breached. It is accordingly agreed that, except with respect to the payment of the
amounts due hereunder, the Holder of this Note shall be entitled to swift specific performance, injunctive relief or other equitable
remedies to prevent or cure breaches of the provisions of this Note and to enforce specifically the terms and provisions hereof,
this being in addition to any other remedy to which the Holder may be entitled under this Note.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	4

    	 

    

  

IN
WITNESS WHEREOF, the Company has caused this Note to be signed on its behalf, in its corporate name, by its duly authorized
officer, all as of the day and year first above written.

 

NYXIO
TECHNOLOGIES CORP.

 

/s/
Giorgio Johnson

Giorgio
Johnson, CEO

 

 

    	5

    	 

    

 

CONVERTIBLE
PROMISSORY NOTE

 

DUE
APRIL 1, 2015

 

NOTICE
OF CONVERSION

 

The
undersigned hereby elects to convert $principal amount of the Note (defined below) into that number of shares of Common Stock
to be issued pursuant to the conversion of the Note ("Common Stock") as set forth below, of NYXIO TECHNOLOGIES CORP.,
a Nevada corporation (the "Borrower") according to the conditions of the convertible note of the Borrower dated as of
April 1, 2014, (the "Note"), as of the date written below. No fee will be charged to the Holder for any conversion,
except for transfer taxes, if any.

 

Box
Checked as to applicable instructions (DWAC Transfer shall apply only if Borrower is DWAC eligible):

 

[
] The Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of
the undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system ("OWAC Transfer").

Name
of DTC Prime Broker: Account Number:

 

[
] The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
set forth below (which numbers are based on the Holder's calculation attached hereto) in the name(s) specified immediately below
or, if additional space is necessary on an attachment hereto:

 

Date
of Conversion:

Applicable
Conversion Price:$

Number of Shares of Common Stock to be Issued

Pursuant
to Conversion of the Note:

 

Amount
of Principal Balance Due remaining

Under
the Note after this conversion: 

Tide
Pool Venture Corporation

 

Name: 

By:-

Title:

Date:

 

NYXIO
TECHNOLOGIES CORP.

 

CONVERTIBLE
PROMISSORY NOTE

 

DUE
APRIL 1, 2015 

 

    	6

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