Document:

gthp_ex1021

  Exhibit 10.21

 

SECURITIES PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT
(the "Agreement"),
dated as of June 7,
2018, by and between Guided Therapeutics, Inc., a Delaware
corporation, with its address
at 5835 Peachtree Corners East, Suite
D, Norcross, Georgia
30092 (the
"Company"), and POWER UP LENDING GROUP LTD., a
Virginia corporation, with its address at 111 Great
Neck Road, Suite 216, Great Neck, NY 11021 (the "Buyer").

 

WHEREAS:

 

A. The
Company and the Buyer are executing
and delivering this Agreement in reliance upon the exemption from
securities registration
afforded by the rules and regulations
as promulgated by the United States
Securities and Exchange Commission (the "SEC) under the
Securities Act of 1933,
as amended (the "1933 Act");
and

 

B. Buyer desires to purchase and the Company
desires to issue and sell, upon the
terms and conditions set forth in this Agreement
a convertible note of the Company,
in the form attached hereto as Exhibit A, in the
aggregate principal
amount of $53,000.00 (together with
any note(s) issued in replacement thereof or as a dividend
thereon or otherwise with respect thereto in accordance with the terms thereof, the "Note"),
convertible into shares of common stock, $0.001 par value
per share, of the Company (the "Common Stock"), upon the terms and subject
to the limitations and
conditions set forth in
such Note.

 

NOW THEREFORE, the Company and the Buyer
severally (and
not jointly) hereby agree as follows:

 

1. Purchase
and Sale of Note.

 

a. Purchase of Note. On the
Closing Date (as defined below), the
Company shall
issue and sell to the
Buyer and the Buyer agrees to purchase from the
Company such principal
amount of Note as is set
forth immediately
below the Buyer's name
on the signature pages hereto.

 

b.
Form of Payment. On the
Closing Date (as defined below), (i) the Buyer shall pay the
purchase price for the Note to be issued and
sold to it at the Closing (as defined below) (the "Purchase Price")
by wire transfer of immediately
available funds to the
Company, in accordance with the Company's written wiring instructions, against
delivery of the Note in the principal amount equal
to the Purchase Price as is
set forth immediately below the Buyer's name on
the signature pages
hereto, and

 

(ii) the Company shall deliver
such duly executed Note on behalf of the Company, to the
Buyer, against delivery of such Purchase Price.

 

c. Closing Date. Subject to the satisfaction (or
written waiver) of the conditions thereto set forth in Section 6
and Section 7 below, the date and
time of the
issuance and sale
of the Note pursuant to this Agreement
(the "Closing Date") shall be 12:00
noon, Eastern Standard Time on or about June 11, 2018,
or such other mutually agreed upon time. The
closing of the transactions
contemplated by this Agreement (the
"Closing") shall occur on the Closing Date at such location as
may

be
agreed to by the parties.

 

2.
Buyer's Representations and Warranties. The Buyer represents and
warrants to the Company that:

 

a. Investment Purpose. As of the
date hereof, the Buyer is purchasing the Note and the shares of
Common Stock issuable upon conversion of or otherwise pursuant to
the Note (such shares of Common Stock being collectively referred
to herein as the "Conversion Shares" and, collectively
with the Note, the "Securities") for its own account and not with a
present view towards the public sale or distribution thereof,
except pursuant to sales registered or exempted from registration
under the 1933 Act.

 

b. Accredited Investor Status. The Buyer is an
"accredited investor" as that term is defined in Rule 501(a) of
Regulation D (an "Accredited
Investor").

 

 

1

 

 

c. Reliance on Exemptions. The Buyer understands
that the Securities are being offered and sold to it in reliance
upon specific exemptions from the registration requirements of
United States federal and state securities laws and that the
Company is relying upon the truth and accuracy of, and the
Buyer's compliance with, the representations,
warranties, agreements, acknowledgments and understandings
of the Buyer set forth herein in order to determine the
availability of such exemptions and the eligibility of the Buyer to
acquire the Securities.

 

d.
Information. The Company has not disclosed to the Buyer any
material non public information and will not disclose such
information unless such information is disclosed to the public
prior to or promptly following such disclosure to the
Buyer.

 

e. Legends. The Buyer understands that the Note
and, until such time as the Conversion Shares have been
registered under the 1933 Act; or may be
sold pursuant to an applicable exemption from registration,
the Conversion Shares may bear a restrictive legend in
substantially the following form:

 

"THE SECURITIES REPRESENTED BY THIS INSTRUMENT
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). OR UNDER ANY STATE SECURITIES
LAWS, AND MAY NOT BE PLEDGED, SOLD,
ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED UNLESS (1) A
REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE
SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR
(2) THE ISSUER OF SUCH SECURITIES RECEIVES AN OPINION OF COUNSEL TO
THE HOLDER OF SUCH SECURITIES, WHICH
COUNSEL AND OPINION ARE REASONABLY ACCEPTABLE TO THE ISSUER'S
TRANSFER AGENT,
THAT SUCH SECURITIES MAY BE
PLEDGED, SOLD, ASSIGNED, HYPOTHECATED
OR OTHERWISE TRANSFERRED
WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS."

 

The legend set
forth above shall
be removed and the
Company shall
issue
a certificate without such legend
to the holder of any Security upon
which it is stamped, if, unless
otherwise required
by applicable state securities laws, (a) such Security
is registered for sale under an effective registration statement filed under the 1933
Act or otherwise may
be sold pursuant
to an exemption from registration without any restriction as to the
number of securities as of
a particular date that
can then be immediately
sold, or (b)
such holder provides the Company with
an opinion of counsel, in form, substance and scope customary for
opinions of counsel
in comparable
transactions, to the
effect that a
public sale or transfer of
such Security may be made
without registration under the 1933 Act, which
opinion shall
be accepted by the
Company so that the
sale or transfer is
effected. The Buyer agrees to sell all
Securities, including
those represented by a certificate(s)
from which the legend has been removed, in compliance with
applicable prospectus delivery requirements, if any. In the event
that the Company does
not accept the opinion
of counsel provided
by the Buyer
with respect
to the transfer of Securities
pursuant to an exemption
from registration, such as Rule
144, at the
Deadline, it
will be considered an Event of
Default pursuant to Section 3.2
of the Note.

 

f. Authorization: Enforcement. This
Agreement has been duly and
validly authorized. This
Agreement has been duly executed and delivered on behalf of
the Buyer, and this Agreement
constitutes a
valid and binding agreement
of the Buyer enforceable in accordance with its terms.

 

3. Representations and Warranties of
the Company.
The Company represents and warrants to
the Buyer
that:

 

a.
Organization and
Qualification.
The Company and each of its Subsidiaries (as defined below), if
any, is a
corporation duly organized, validly
existing and
in good standing under
the laws of the jurisdiction in which
it is incorporated, with
full power and authority (corporate and other) to own,
lease, use and operate its properties and to carry on
its business as and where now owned, leased, used, operated and conducted. "Subsidiaries" means any
corporation or other
organization, whether incorporated
or unincorporated, in which
the Company owns, directly
or indirectly, any
equity or other ownership
interest.

 

b. Authorization: Enforcement. (i) The Company has
all requisite corporate power and
authority to
enter into and perform
this Agreement, the Note and to
consummate the transactions
contemplated hereby and thereby and to issue the
Securities, in accordance with the terms hereof and thereof, (ii) the
execution and delivery
of this Agreement, the Note by
the Company and the consummation by it of the transactions contemplated
hereby and thereby (including without limitation, the issuance of the
Note and the issuance and reservation
for issuance of the Conversion Shares
issuable upon conversion or exercise thereof) have been
duly authorized by the
Company's Board of Directors
and no further consent or authorization of the Company, its Board of Directors,
or its shareholders
is required,

 

 

2

 

 

(iii) this Agreement has been duly executed and
delivered by the Company
by its authorized representative, and
such authorized representative is the true and official
representative with authority to sign this Agreement and the other
documents executed
in connection herewith and bind the
Company accordingly, and (iv) this Agreement
constitutes,
and upon execution and delivery by the
Company of the Note, each
of such instruments will constitute, a legal, valid and binding
obligation of the Company enforceable against the Company in
accordance with its terms.

 

c. Capitalization. As of the
date hereof, the authorized common stock of the Company consists of
1,000,000,000 authorized shares of
Common Stock, $0.001 par value per share, of which
89,421,392 shares
are issued and
outstanding; and 119,841,718 shares are reserved for
issuance upon
conversion of the Note. All
of such outstanding shares of capital stock are, or
upon issuance will be, duly authorized, validly issued, fully
paid and
non-assessable.

 

d. Issuance of Shares. The
Conversion Shares are
duly authorized and reserved for
issuance and, upon conversion of
the Note in accordance with its respective terms, will be validly
issued, fully paid and non-assessable, and free from
all taxes, liens, claims and encumbrances with respect
to the issue
thereof and shall not be subject to
preemptive rights
or other similar
rights of shareholders of the Company and will not impose personal liability upon
the holder thereof.

 

e. No Conflicts. The
execution, delivery and performance of this Agreement, the Note by
the Company and the consummation by the Company of the transactions
contemplated hereby
and thereby (including, without
limitation, the issuance and reservation for issuance of the
Conversion Shares) will not (i) conflict
with or result in a
violation of any provision of the
Certificate of Incorporation or By-laws, or (ii) violate or
conflict with, or result in a breach of any provision of, or
constitute a default (or an event which with notice or lapse of
time or both could become a default) under, or give to
others any rights of termination, amendment,
acceleration or
cancellation of, any agreement, indenture, patent,
patent license or instrument to which
the Company or any of its Subsidiaries is a party, or (iii) result
in a violation of any law, rule,
regulation, order, judgment or decree
(including federal and state securities laws and regulations and
regulations of any self-regulatory organizations to which the Company or its
securities are
subject) applicable to
the Company or any of
its Subsidiaries or by which any property or
asset of the Company or any of its Subsidiaries
is bound or
affected (except for such conflicts, defaults, terminations,
amendments, accelerations, cancellations and violations as would
not, individually or
in the aggregate, have
a Material Adverse Effect).
The businesses
of the Company and its Subsidiaries, if any, are not being
conducted, and shall
not be conducted so long as the
Buyer owns any of the Securities, in violation
of any law, ordinance or regulation of
any governmental entity. "Material Adverse Effect" means any
material adverse effect on the business, operations, assets, financial condition or
prospects of the Company or its
Subsidiaries, if any, taken as
a whole, or on the transactions contemplated
hereby or by the agreements or instruments to be entered
into in connection herewith.

 

f. SEC Documents: Financial Statements.
The Company has filed all reports, schedules,
forms, statements
and other documents required to be
filed by it with the
SEC pursuant to the reporting
requirements of the Securities Exchange Act of
1934, as amended (the "1934 Act")
(all of the foregoing filed prior to the date hereof
and all exhibits
included therein and financial statements and schedules
thereto and documents (other than exhibits to such documents) incorporated by reference therein,
being hereinafter referred to
herein as the "SEC Documents"). Upon written request the
Company will deliver to the Buyer true and complete copies of
the SEC Documents, except for such exhibits and incorporated documents. As of their
respective dates or if
amended, as of the dates of the amendments, the
SEC Documents complied in all material respects
with the requirements of the 1934 Act and the rules
and regulations of the SEC promulgated thereunder applicable to the
SEC Documents, and
none of the SEC Documents, at the time
they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a
material fact required
to be stated therein
or necessary in
order to make the
statements therein, in light of the circumstances under which they
were made, not misleading. None
of the statements
made in any
such SEC Documents is, or has been,
required to be amended or updated under applicable law
(except for such statements
as have been amended
or updated in subsequent
filings prior the date hereof). As of
their respective dates or if amended, as
of the dates of the amendments, the financial statements of
the Company included in the SEC
Documents complied as
to form in all material respects
with applicable
accounting requirements
and the published rules and regulations of the SEC
with respect
thereto. Such
financial statements
have been prepared in accordance with
United States generally accepted accounting principles, consistently applied, during the periods involved and fairly present in all material respects the
consolidated financial position of the Company and its
consolidated Subsidiaries as of the dates thereof
and the consolidated results of their operations and cash flows for the periods then ended (subject, in
the case of unaudited
statements, to normal
year-end audit adjustments). The Company is subject to
the reporting
requirements of the 1934
Act.

 

g. Absence of Certain
Changes. Since
March 31, 2018, except as set forth
in the SEC Documents, there has
been no material adverse change and no material adverse development in the assets, liabilities, business, properties, operations,
financial condition, results of operations, prospects
or 1934 Act reporting status of the
Company or any of
its Subsidiaries.

 

h. Absence of Litigation. Except as set
forth in the SEC Documents, there is no action, suit, claim,
proceeding, inquiry or investigation before or by any court, public board,
government agency,
self-regulatory organization or body
pending or, to the knowledge of
the Company or any of
its Subsidiaries, threatened
against or affecting the Company or any of its
Subsidiaries, or their officers or directors in their capacity
as such, that
could have a
Material Adverse Effect. The Company
and its Subsidiaries are unaware of
any facts or circumstances which might give rise to any of the
foregoing.

 

 

3

 

 

i. No Integrated Offering. Neither the Company,
nor any of its affiliates, nor any person acting on its or their
behalf, has directly or
indirectly made any offers
or sa les in
any security or solicited
any offers to buy any security under
circumstances that would require registration under the 1933 Act of the
issuance of the
Securities to the Buyer. The
issuance of the Securities to the Buyer will not be
integrated with any other
issuance of the Company's securities (past, current or future) for
purposes of any
shareholder approval
provisions applicable
to the Company or its
securities.

 

j. No Brokers. Except with respect to
Moody Capital Solutions,
Inc., the Company has taken no action
which would give rise to any claim by
any person for brokerage commissions, transaction fees or similar payments
relating to this Agreement or the transactions contemplated
hereby.

 

k.
No Investment Company. The Company is not, and upon the issuance
and sale of the Securities as contemplated by this Agreement will
not be an "investment company" required to be registered under the
Investment Company Act of 1940 (an "Investment Company"). The
Company is not controlled by an Investment Company.

 

I. Breach of Representations and Warranties
_b
the Company. If the Company breaches any of the representations or
warranties set forth in this Section 3, and in addition to any
other remedies available to the Buyer pursuant to this Agreement,
it will be considered an Event of default under Section 3.4 of the
Note.

 

4.
COVENANTS.

 

a.
Best Efforts. The Company shall use its best efforts to satisfy
timely each of the conditions described in Section 7 of this
Agreement.

 

b.
Form 0; Blue Sky Laws. The Company agrees to timely make any
filings required by federal and state laws as a result of the
closing of the transactions contemplated by this
Agreement.

 

c.
Use of Proceeds. The Company shall use the proceeds for general
working capital purposes.

 

d. Expenses. At the Closing, the Company's
obligation with respect to the transactions contemplated by this Agreement is to
reimburse Buyer' expenses shall be $3,000.00 for Buyer's legal fees
and due diligence fee.

 

e.
Corporate Existence. So long as the Buyer beneficially owns any
Note, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company's assets, except
with the prior written consent of the Buyer.

 

f. Breach of Covenants. If the Company breaches
any of the covenants set forth in this Section 4, and in addition
to any other remedies available to the Buyer pursuant to this
Agreement, it will be considered an event of default under Section
3.4 of the Note.

 

g.
Failure to Comply with the 1934 Act. So long as the Buyer
beneficially owns the Note, the Company shall comply with the
reporting requirements of the 1934 Act; and the Company shall
continue to be subject to the reporting requirements of the 1934
Act.

 

h. Trading Activities. Neither the Buyer nor its
affiliates has an open short position in the common stock of the
Company and the Buyer agrees that it shall not, and that it will
cause its affiliates not to,
engage in any short sales of or
hedging transactions with respect to the common stock of the
Company.

 

i.

Right of
First
Refusal. Unless it shall have first
delivered to the Buyer, at least forty eight (48) hours prior to the closing of
such Future Offering
(as defined herein), written notice describing the proposed
Future Offering ("ROFR
Notice"), including the terms and
conditions thereof,
identity of the proposed
purchaser and proposed definitive documentation to be entered
into in connection therewith, and providing the
Buyer an option during the forty eight (48) hour period following
delivery of such
notice to purchase the securities
being offered in the Future Offering on the same terms as
contemplated by such Future Offering (the limitations referred
to in this sentence and the preceding sentence are
collectively referred
to as the "Right
of First Refusal"), the Company
will not conduct any equity (or debt with
an equity component) financing in an amount less than
$150,000 {"Future Offering(s)") during the
period beginning
on the Closing Date
and ending nine (9) months following the Closing Date. In the event
the terms and conditions of a proposed Future Offering are amended
in any respect after delivery of the notice to
the Buyer concerning the
proposed Future
Offering, the Company shall deliver a
new notice to
the Buyer describing the amended terms and conditions of
the proposed Future Offering and
the Buyer thereafter shall have an option
during the forty eight (48) hour period following delivery of such new notice
to purchase its pro rata share of the
securities being offered on the same terms as contemplated
by such proposed Future Offering, as amended. Notwithstanding anything contained
herein to the contrary, any subsequent offer by an
investor, or an affiliate of such investor,
identified on an ROFR Notice is
subject to this Right of
First Refusal.

 

 

4

 

 

5. Transfer
Agent Instructions. The
Company shall issue irrevocable
instructions to its transfer agent
to issue certificates, registered in the
name of the Buyer
or its nominee, for the Conversion Shares in such amounts
as specified from time to time by the Buyer to the
Company upon conversion of the Note in accordance with the
terms thereof (the
"Irrevocable Transfer
Agent Instructions" ).
In the event that the Company proposes to
replace its transfer agent, the Company shall provide, prior
to the effective date of such replacement, a fully executed
Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to this
Agreement (including but not
limited to the provision to
irrevocably reserve shares
of Common Stock in the Reserved Amount
as such term is
defined in the Note) signed by the
successor transfer
agent to Company
and the Company. Prior to registration of the Conversion
Shares under
the 1933 Act or the date on
which the Conversion Shares may be sold pursuant
to an exemption from registration, all
such certificates shall bear the
restrictive legend
specified in Section 2(e) of this
Agreement. The Company warrants that: (i) no instruction other than
the Irrevocable Transfer
Agent Instructions referred to in this
Section 5, will be given by the Company to its transfer agent
and that the Securities shall otherwise be freely transferable on
the books and records of the Company as and to the extent
provided in this Agreement and the Note; (ii) it will
not direct its transfer
agent not to transfer or delay, impair, and/or hinder its transfer
agent in transferring (or issuing)(electronically or
in certificated form) any certificate for Conversion
Shares to be issued to the Buyer upon conversion of or otherwise
pursuant to the Note as and when
required by the Note and this Agreement; and (iii) it will not fail
to remove (or
directs its transfer
agent not to remove or impairs, delays, and/or hinders its transfer
agent from removing) any restrictive legend (or to withdraw any
stop transfer instructions in
respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion of or
otherwise pursuant to
the Note as and when
required by the Note and/or this Agreement. If the Buyer provides
the Company and the Company's transfer, at the cost of the Buyer,
with an opinion of counsel in form, substance and
scope customary for opinions in comparable transactions,
to the effect
that a public sale or transfer
of such Securities may
be made without registration under the 1933 Act, the Company
shall permit the transfer, and, in the
case of the Conversion Shares, promptly instruct its transfer
agent to issue one or more certificates, free from restrictive
legend, in such
name and in such
denominations as specified
by the Buyer. The Company acknowledges
that a breach by it of its
obligations hereunder will cause irreparable harm to the Buyer,
by vitiating
the intent and purpose of
the transactions
contemplated hereby. Accordingly, the
Company acknowledges that the remedy at law for a
breach of its obligations under t his
Section 5 may be
inadequate and agrees, in the event of a
breach or threatened breach by the Company of the provisions
of this Section, that the Buyer shall be
entitled, in addition to all other available remedies, to an
injunction restraining any breach and requiring immediate transfer, without the necessity
of showing economic loss
and without any bond or
other security being required.

 

6.
Conditions to the Company's Obligation
to Sell. The obligation
of the Company hereunder to issue and
sell the Note to the Buyer at the Closing is
subject to the satisfaction, at or before the Closing
Date of each of the following conditions thereto, provided that
these conditions are
for the Company's
sole benefit and may be waived by the Company at any time in
its sole discretion:

 

a. The Buyer shall have executed
this Agreement and
delivered the same
to the Company.

 

b. The Buyer shall have
delivered the Purchase Price in
accordance with Section
l(b) above.

 

c. The representations and warranties of the
Buyer shall be true and
correct in all material
respects as of the date when made and as of the Closing Date as
though made at
that time (except for representations
and warranties that speak as of a specific date), and the Buyer shall have
performedi
satisfied
and complied
in all material respects with the covenants,
agreements
and
conditions
required by this Agreement to be
performed, satisfied
or complied with by the Buyer
at or prior to the Closing Date.

 

d. No litigation, statute, rule, regulation,
executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by
or in any court or
governmental authority of competent
jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of
the transactions contemplated by this Agreement.

 

7. Conditions to The Buyer's Obligation to
Purchase. The obligation of the Buyer hereunder to purchase
the Note at the Closing is subject to
the satisfaction,
at or before the Closing Date
of each of the following conditions,
provided that these conditions are
for the Buyer's sole benefit and may be waived by the
Buyer at any
time in its
sole discretion:

 

a. The
Company shall have
executed this Agreement
and delivered the same to the Buyer.

 

b. The Company shall have delivered to the Buyer the duly executed Note (in
such denominations
as the Buyer shall request) in accordance
with Section
l(b) above.

 

c. The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been
delivered to and
acknowledged in writing by the
Company's Transfer Agent.

 

 

5

 

 

d. The representations and warranties of the
Company shall
be true and correct in all
material respects as of the date when made and as of the
Closing Date as though made at such time (except for representations and warranties that speak as of a specific
date) and the Company shall have
performed, satisfied and
complied in all material respects with
the covenants, agreements and
conditions required by this
Agreement to be performed, satisfied or complied with by the
Company at or
prior to the Closing Date. The
Buyer shall have received
a certificate or certificates, executed by the chief executive officer
of the Company, dated as of the Closing Date, to the
foregoing effect and
as to such other
matters as may be reasonably requested by the Buyer
including, but not limited to certificates with respect to the
Board of Directors' resolutions relating to
the transactions contemplated hereby.

 

e. No
litigation, statute,
rule, regulation,
executive order, decree, ruling or injunction
shall have been enacted, entered, promulgated or
endorsed by or in any court or governmental
authority of competent jurisdiction or any
self-regulatory organization
having authority over the matters contemplated hereby which
prohibits the
consummation of any of the
transactions contemplated by this Agreement.

 

f. No event shall
have occurred which could reasonably be expected to
have a Material Adverse
Effect on the Company including but not limited to a
change in the
1934 Act reporting status of the
Company or the failure of the Company to
be timely in its 1934 Act reporting obligations.

 

g. The Conversion Shares shall
have been authorized for
quotation on an exchange
or electronic quotation system and
trading in the Common Stock
on such exchange or electronic quotation system shall not have
been suspended by the SEC or an
exchange or electronic quotation system.

 

h. The Buyer
shall have received the
fully executed
(with notary Confession of Judgment) dated as of the
Closing Date.

 

8. Governing law; Miscellaneous.

 

a. Governing law. This Agreement
shall be governed by
and construed
in accordance with the
laws of the
State of Virginia without
regard to principles of conflicts of laws. Any action brought
by either party against the
other concerning the transactions contemplated by this
Agreement shall
be brought only in the state
courts of New York or
in the federal courts
located in the Eastern District of New York. The parties to this
Agreement hereby irrevocably waive any objection
to jurisdiction and
venue of any action
instituted hereunder and
shall not assert any defense
based on lack
of jurisdiction or venue
or based upon/arum non conveniens.
The Company and Buyer waive trial by
jury. The prevailing party shall be
entitled to recover from
the other party its reasonable attorney's fees and costs. In the event that any
provision of this Agreement or any other agreement delivered
in connection herewith is invalid or unenforceable
under any applicable
statute or rule of law, then such
provision shall
be deemed inoperative to the extent
that it may conflict therewith and shall be
deemed modified to conform with such statute or rule
of law. Any such provision which may
prove invalid
or unenforceable under any
law shall not affect the
validity or enforceability of any
other provision of any agreement.
Each party hereby irrevocably waives personal service of
process and consents to process being served in any
suit, action or proceeding in connection
with this Agreement, the Note or any related
document or agreement by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to
such party at the address in effect for
notices to it under this Agreement and agrees
that such service
shall constitute good
and sufficient service
of process and notice
thereof. Nothing contained herein shall be
deemed to limit in
any way any right to
serve process in any other manner permitted by law.

 

b. Counterparts. This Agreement may be
executed in one
or more counterparts,
each of which shall be
deemed an
original but all of which shall
constitute one and the same agreement and
shall become effective when
counterparts have been signed by
each party and
delivered to the other
party.

c. Headings. The headings of this Agreement are
for convenience of reference only and shall not
form part of, or affect
the interpretation of,
this Agreement.

 

d. Severability. In the event that
any provision of this Agreement is invalid or unenforceable under
any applicable statute or rule
of law, then
such provision shall be
deemed inoperative to the
extent that it may
conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may
prove invalid or unenforceable under any law
shall not affect the validity or
enforceability of any
other provision
hereof.

 

e. Entire Agreement; Amendments. This Agreement
and the instruments referenced herein
contain the entire
understanding of the parties
with respect to
the matters covered herein
and therein and, except as specifically set forth herein or therein,
neither the Company
nor the Buyer makes any
representation, warranty, covenant or undertaking with respect
to such matters.
No provision
of this Agreement may be waived or amended
other than by an instrument in writing signed
by the majority
in interest of the Buyer.

 

 

6

 

 

f. Notices. All notices, demands, requests,
consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i)
personally served,
(ii) deposited in the
mail, registered or
certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery, telegram, or
facsimile, addressed
as set forth
below or to such other address
as such party
shall have specified most
recently by written notice. Any
notice or other
communication required
or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery
or delivery by facsimile,
with accurate confirmation
generated by the transmitting
facsimile machine, at the
address or number designated below (if delivered on a
business day
during normal business
hours where such notice is to be
received), or the first business day following such delivery
(if delivered other
than on a business day during
normal business hours where such notice is
to be received) or
(b) on the second business day following
the date of mailing by express
courier service, fully
prepaid,
addressed to
such address, or upon actual receipt of
such mailing, whichever
shall first occur. The addresses for such communications shall
be as set forth in the
heading of this
Agreement with a copy
by fax only to (which copy shall not
constitute notice) to Naidich Wurman LLP, 111 Great Neck Road,
Suite 214, Great
Neck, NY 11021, Attn: Allison
Naidich, facsimile:
516-466-3555, e-mail:
allison@nwlaw.com. Each
party shall provide notice to the other
party of any change
in address.

 

g. Successors and Assigns.
This Agreement shall
be binding upon and inure to the benefit
of the parties and their successors and assigns. Neither
the Company nor the Buyer
shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the
other. Notwithstanding the
foregoing, the Buyer may assign its rights hereunder to any person that purchases Securities in a
private transaction
from the Buyer or to any of
its "affiliates," as
that term is defined under the 1934 Act,
without the consent of the
Company.

 

h. Survival. The representations and warranties of
the Company and
the agreements and covenants
set forth in this Agreement shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on
behalf of the Buyer.
The Company agrees to indemnify and hold
harmless the Buyer and all
their officers, directors, employees and agents for loss or
damage arising as result of or
related to any
breach or alleged
breach by the Company of
any of its representations,
warranties and covenants set
forth in this Agreement or
any of its covenants and obligations under this Agreement, including
advancement of expenses as
they are incurred.

 

i. Further Assurances. Each party
shall do and
perform, or cause to be
done and performed, all
such further acts
and things, and
shall execute and
deliver all such
other agreements, certificates, instruments and documents, as the other
party may reasonably request in
order to carry out
the intent and
accomplish the purposes
of this Agreement and the consummation of the transactions contemplated
hereby.

 

j.
No Strict Construction. The language
used in this Agreement will be deemed to be the language
chosen by the parties to express their mutual intent, and no rules
of strict construction
will be applied against any party.

 

k. Remedies. The Company acknowledges that a breach by it of its
obligations hereunder will cause irreparable harm to the
Buyer by vitiating the intent and
purpose of the transaction contemplated hereby. Accordingly,
the Company acknowledges that the remedy at law
for a breach of
its obligations under this
Agreement will be
inadequate and agrees, in the
event of a breach or threatened
breach by the Company of the provisions of this Agreement,
that the Buyer shall be
entitled, in addition
to all other
available remedies at
law or in equity, and in
addition to the penalties assessable herein, to an injunction or
injunctions restraining, preventing or curing any breach of this
Agreement and
to enforce specifically the terms and provisions hereof,
without the necessity of showing economic loss and without
any bond or
other security being
required.

 

 

7

 

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK)

 

 

8

 

 

IN WITNESS WHEREOF, the undersigned Buyer
and the Company have caused this Agreement to
be duly executed as of the date
first above written.

 

 

GUIDED THERAPEUTICS, INC.

/s/ Gene S. Cartwright

Gene S.
Cartwright

President
and Chief Executive Officer

 

POWER UP LENDING GROUP LTD.

By:
/s/ Curt Kramer

Name:
Curt Kramer

Title:
Chief Executive Officer

111 Great Neck Road, Suite
216

Great
Neck, NY 11021

 

AGGREGATE SUBSCRIPTION
AMOUNT:

 

Aggregate Principal Amount of Note:
$53,000.00

 

Aggregate
Purchase Price:
$53,000.00

 

9gthp_ex1022

  Exhibit 10.22

 

 

 SECURITIES PURCHASE
AGREEMENT

 

THIS PURCHASE AGREEMENT ("Agreement")
is made as of the 22nd day of June, 2018 by and
between Guided Therapeutics,
Inc.,
(the "Company"),
and GHS Investments, LLC
(the "Investor").

 

 

 

Recitals

 

A. The Investor wishes to purchase from the
Company and the Company wishes
to sell and issue to the Investor, upon the
terms and conditions stated in this Agreement:

 

1. $68,000 of Securities, in the form
of a Promissory Note (the "Note"), attached
hereto.

 

In consideration of the mutual promises made
herein and for other good and valuable
consideration,
the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as
follows:

 

1. Definitions. In addition
to those terms defined above and elsewhere in this
Agreement, for the purposes of this Agreement, the following
terms shall have the meanings set forth below:

 

"Affiliate" means,
with respect to any Person, any other
Person which directly or indirectly through one or more
intermediaries Controls, is controlled by, or is under
common control with,
such Person.

 

"Business Day" means a day, other than a
Saturday or Sunday,
on which banks in New York City are
open for the general transaction of business.

 

"Common Stock Equivalents"
means any securities of the Company or the Subsidiaries which would
entitle the holder thereof to acquire at any time
Common Stock, including
without limitation,
any debt, preferred
stock, rights, options, warrants or other instrument that
is at any time convertible into or exchangeable
for, or otherwise entitles the holder thereof to
receive,
Common Stock.

 

"Company's Knowledge" means the
actual knowledge of the executive officers (as defined in Rule 405
under the 1933 Act) of the Company,
after due inquiry.

 

"Confidential Information" means trade
secrets, confidential information and know-how (including but not
limited to ideas,
formulae, compositions, processes, procedures
and techniques,
research and development
information,
computer program
code, performance specifications, support
documentation,
drawings,
specifications,
designs, business and
marketing plans,
and customer and supplier lists and
related information).

 

"Control" (including the terms "controlling", "controlled by" or "under common
control with") means the possession, direct or indirect, of the
power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of
voting securities, by contract or
otherwise.

 

"Intellectual Property" means all of the
following: (i) patents,
patent applications, patent
disclosures and inventions (whether or not patentable and whether
or not reduced to practice); (ii) trademarks, service
marks, trade dress, trade names, corporate names, logos,
slogans and Internet domain names, together with all goodwill
associated with each of the foregoing; (iii) copyrights and
copyrightable works; (iv) registrations, applications and renewals for any
of the foregoing; and (v) proprietary computer software (including
but not limited to data, data bases and
documentation).

 

"Material Adverse Effect" means a material adverse effect on
(i) the assets, liabilities, results of
operations, condition (financial or otherwise), business, or
prospects of the Company and its Subsidiaries taken as a whole,
or (ii) the ability of the Company to
perform its obligations under the Transaction
Documents.

 

 

1

 

 

"Person" means
an individual,
corporation, partnership, limited
liability company,
trust, business trust, association,
joint stock company, joint venture, sole proprietorship,
unincorporated organization, governmental authority or any other
form of entity not specifically listed herein.

 

"Purchase Price" means $60,500, representing a 10% original
issuance discount on the Note and an initial $2,000 being withheld
by the Investor to offset legal and other transaction
costs.

 

"SEC" means
the United States Securities and Exchange Commission.

 

"Securities"
means the Note and the common shares issuable at
conversion.

 

"Subsidiary" of any Person means another Person, an amount of
the voting securities, other voting ownership or voting partnership
interests of which is sufficient to elect at least a majority of
its Board of Directors or other governing body (or, if there are no
such voting interests, 50% or more of the equity interests of
which) is owned directly or indirectly by such first
Person.

 

"Transaction Documents" means this Agreement, the
Note, the Company Representation Letter, and
supporting documents.

 

"1933 Act"
means the Securities Act
of 1933, as
amended, or any successor statute, and the rules and
regulations promulgated thereunder.

 

"1934 Act" means the Securities
Exchange Act of 1934, as amended, or any
successor statute, and the rules and regulations promulgated
thereunder.

 

2.
Purchase and Sale of the Securities. Subject to the terms and
conditions of this Agreement, the Company shall sell and issue to
the Investor a Promissory Note in the principal amount of
$62,500

 

2.1
Security As Security for the Company's obligations contained herein
and in the Note issued by the Company to the Holder, following any
Event of Default which remains uncured for fifteen (15) calendar
days, the Holder shall be granted an unconditional security
interest in and to, any and all property of the Company and its
subsidiaries, of any kind or description, tangible or intangible,
whether now existing or hereafter arising or acquired until the
balance of the Note has been reduced to $0. "Any and all property,"
as described herein shall be inclusive of, but not limited to,
assets reported by the Company on its SEC filings, cash, inventory,
accounts receivable, intellectual property rights, equipment and
property. The Investor is authorized to make all filings the
Investor, in its discretion, deems necessary to evidence its
security interests.

 

3. Closing. Upon confirmation that the other
conditions to closing specified herein have been satisfied or duly
waived by the Investor, the Company shall deliver to the Investor,
a Note registered the name of the Investor and the Investor shall
cause a wire transfer in same day funds to be sent to the account
of the Company as instructed in writing by the Company, in an
amount representing the Purchase Price for the Note (the
"Closing Date").

 

4.
Representations and Warranties of the Company. The Company hereby
represents and warrants to the Investor that, except as set forth
in the schedules delivered herewith (collectively, the "Disclosure
Schedules") and as disclosed in the Company's SEC
Filings:

 

4. 1 Organization, Good Standing and
Qualification. Each of the Company and its Subsidiaries is a
corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation and has all
requisite corporate power and authority to carryon its business as
now conducted and to own its properties. Each of the Company and
its Subsidiaries is duly qualified to do business as a foreign
corporation and is in good standing in each jurisdiction in which
the conduct of its business or its ownership or leasing of property
makes such qualification or leasing necessary unless the failure to
so qualify has not and could not reasonably be expected to have a
Material Adverse Effect. The Company's Subsidiaries are listed on the Company's public
disclosures filed with the SEC.

 

 

2

 

 

4.2 Authorization. The Company has
full power and authority and, has taken all requisite action
on the part of the Company, its officers, directors
and stockholders necessary for (i) the authorization, execution and
delivery of the Transaction Documents, (ii) authorization of the
performance of all obligations of the Company hereunder or
thereunder, and (iii) the authorization, issuance (or reservation
for issuance) and delivery of the Securities. The Transaction
Documents constitute the legal, valid and binding obligations of
the Company,
enforceable against the Company in
accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer,
reorganization,
moratorium and similar laws of general
applicability,
relating to or affecting
creditors' rights generally.

 

4.3 Capitalization. As of the date
hereof, the authorized common stock of the Company on the
date hereof is _
1 ,000,000,000 __; (b)
the number of shares of
capital stock issued and outstanding
as of_6/21/18
is _252,577,663 ; (c) the
number of shares of capital stock issuable pursuant to the
Company's stock plans _38,51 1,718 ; and (d) the number of shares of capital stock
issuable and reserved for issuance pursuant to securities (other
than the Securities) exercisable for, or convertible into or
exchangeable for any shares of capital stock of the Company as
of 
_ 
6/21/18_

_ are _708,910,619 . All of the
issued and outstanding shares of the Company's capital
stock have been duly authorized and validly issued and are fully
paid, nonassessable and free of pre-emptive rights. All
of the issued and outstanding shares of capital stock of each
Subsidiary have been duly authorized and validly issued and are
fully paid, nonassessable and free of pre-emptive rights, were
issued in full compliance with applicable state and federal
securities law and any rights of third parties and are owned by the
Company, beneficially and of record, subject to
no lien, encumbrance or other adverse claim. No Person is entitled
to pre-emptive or similar statutory or contractual rights
with respect to any securities of the Company. Other than described
herein and in the Company's periodic reports filed with the
SEC, there are no outstanding warrants,
options, convertible securities or other rights, agreements
or arrangements of any character under which the Company or any of
its Subsidiaries is or may be obligated to issue any equity
securities of any kind and except as contemplated by this
Agreement, neither the Company nor any of its Subsidiaries is
currently in negotiations for the issuance of any equity securities
of any kind.

 

The issuance and sale of the Securities hereunder
will not obligate the Company to issue shares of Common Stock or
other securities to any other Person (other than the Investor) and
will not result in the adjustment of the
exercise, conversion, exchange or
reset price of any outstanding security. The Company does not have
outstanding stockholder purchase rights or "poison pill"
or any similar arrangement in effect giving any Person the right to
purchase any equity interest in the Company upon the occurrence
ofcertain events.

 

4.4 Valid Issuance. The issued
Securities have been duly and validly authorized and, when issued
and paid for pursuant to this Agreement, shall be free and clear of
all encumbrances and restrictions (other than those created by the
Investor), except for restrictions on transfer set forth in
the Transaction Documents or imposed by applicable securities laws.
Upon the due conversion of the Debenture, the Converted Shares will
be validly issued, fully paid and non-assessable free and clear of
all encumbrances and restrictions, except for restrictions on
transfer set forth in the Transaction Documents or imposed by
applicable securities laws and except for those created by the
Investor. The Company has reserved a sufficient number of shares of
Common Stock for issuance upon the exercise of the Debenture, free
and clear of all encumbrances and restrictions, except for
restrictions on transfer set forth in the Transaction Documents or
imposed by applicable securities laws and except for those created
by the Investor.

 

4.5 Consents. The execution, delivery and
performance by the Company of the Transaction Documents, and the
offer, issuance and sale of the Securities require no consent of,
action by or in respect of, or filing with, any Person,
governmental body, agency, or official other than filings that have
been made pursuant to applicable state securities laws, and
post-sale filings pursuant to applicable state and federal
securities laws which the Company undertakes to file within the
applicable time periods. Subject to the accuracy of the
representations and warranties of the Investor set forth in Section
5 hereof, the Company has taken all action necessary to exempt (i)
the issuance and sale of the Securities, (ii) the issuance of the
Shares upon due conversion of the Debenture, and (iii) the other
transactions contemplated by the Transaction Documents from the provisions of any shareholder
rights plan or other "poison pill"
arrangement, any anti-takeover, business combination or control
share law or statute binding on the Company or to which the Company
or any of its assets and properties may be subject and any
provision of the Company's Articles of Incorporation or By-laws
that is or could reasonably be expected to become applicable to the
Investor as a result of the transactions contemplated hereby,
including without limitation, the issuance of the Securities and
the ownership, disposition or voting of the Securities by the
Investor or the exercise of any right granted to the Investor
pursuant to this Agreement or the other Transaction
Documents.

 

4.6 Delivery of SEC Filings; Business. The Company
has made available or shall make available, within twenty calendar
days from the execution of this Agreement, to the Investor through
the EDGAR system, true and complete copies of the Company's most
recent Annual Report on Form l0-K for its last fiscal year (the
"10-K"), and all other reports filed by the Company pursuant to the
1934 Act since the filing of the l0-K and prior to the date hereof
(collectively, the "SEC Filings"). The SEC Filings are
the only filings required of the Company pursuant to the 1934 Act
for such period. The Company and its Subsidiaries are engaged in
all material respects only in the business described in the SEC
Filings and the SEC Filings contain a complete and accurate
description in all material respects of the business of the Company
and its Subsidiaries, taken as a whole.

 

4.7 Use of Proceeds. The net proceeds of the sale
of the Note hereunder shall be used by the Company for working
capital and general corporate purposes. The Company agrees that it
shall not use the funds from this Agreement, at any time, to lend
money, give credit or make advances to any officers, directors,
employees, subsidiaries and affiliates of
the Company.

 

 

3

 

 

4.8 No Conflict, Breach, Violation or Default. The
execution, delivery and performance of the Transaction Documents by
the Company and the issuance and
sale of the Securities will not conflict with or result in a breach
or violation of any of the terms and provisions of, or constitute a
default under (i) the Company's Articles of Incorporation or the
Company's Bylaws, both as in effect on the date hereof (true and
complete copies of which have been made available to the Investor
through the EDGAR system), or (ii)(a) any statute, rule, regulation
or order of any governmental agency or body or any court, domestic
or foreign, having jurisdiction over the Company, any Subsidiary or
any of their respective assets or properties, or (b) any agreement
or instrument to which the Company or any Subsidiary is a party or
by which the Company or a Subsidiary is bound or to which any of
their respective assets or properties is
subject.

 

4.9 Brokers and Finders. No Person will
have, as a result of the transactions contemplated by
the Transaction Documents, any valid right, interest or claim
against or upon the Company, any
Subsidiary or an Investor for any commission, fee or other compensation pursuant to any
agreement, arrangement or understanding entered into
by or on behalf
of the Company.

 

4.10 No Directed Selling Efforts or
General Solicitation. Neither the Company nor any Person
acting on its
behalf has conducted any general
solicitation or general advertising (as those terms are used in
Regulation D) in connection with the offer or sale of any of the
Securities.

 

4.11 No
Integrated Offering. Neither the Company nor
any of its Affiliates, nor any Person acting on its or their
behalf has, directly or indirectly, made any offers or sales
of any Company security or solicited any offers to buy any
security, under circumstances that would adversely affect
reliance by the Company on Section 4(2) for the exemption from
registration for the
transactions contemplated
hereby or would require registration of the Securities
under the 1933
Act.

 

4.12
Private Placement. The offer and sale of the Securities to the
Investor as contemplated hereby is exempt from the registration
requirements of the 1933 Act.

 

5.
Representations and Warranties of the
Investor. The Investor hereby represents and warrants
to the Company that:

 

5.1
Organization and Existence. Such
Investor is a validly existinmg corporation, limited partnership or limited liability company and has all
requisite corporate, partnership or
limited liability company power and authority to invest in the
Securities pursuant to this Agreement.

 

5.2 Authorization. The execution, delivery and
performance by such Investor of the Transaction Documents to which
such Investor is a party have been duly
authorized and will each constitute
the valid and legally
binding obligation of such Investor,
enforceable against such Investor in accordance with their
respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar
laws of general applicability, relating to or affecting
creditors' rights generally.

 

5.3 Purchase Entirely for Own Account. The
Securities to be received by such Investor hereunder will be
acquired for such Investor's own account, not as
nominee or agent, and not with
a view to the resale or distribution of any part thereof in
violation of the 1933 Act, and such Investor has no
present intention of selling,
granting any participation in, or otherwise distributing the same
in violation of the 1933 Act without prejudice, however, to such
Investor's right at all times to
sell or otherwise dispose of all or any
part of such Securities in compliance with applicable federal and
state securities laws. Nothing contained herein shall be deemed a
representation or warranty by such Investor to hold the Securities
for any period of time. Such
Investor is not a broker-dealer
registered with the SEC under the 1934 Act or an entity engaged in
a business that would require it to be so
registered.

 

5.4
Investment Experience. Such Investor acknowledges that it can bear
the economic risk and complete loss of its investment in the
Securities and has such knowledge and experience in financial or
business matters that it is capable of evaluating the merits and
risks of the investment contemplated hereby.

 

5.5
Disclosure of Information. Such Investor has had an opportunity to
receive all information related to the Company requested by it and
to ask questions of and receive answers from the Company regarding
the Company, its business and the terms and conditions of the
offering of the Securities. Such Investor acknowledges receipt of
copies of the SEC Filings. Neither such inquiries nor any other due
diligence investigation conducted by such Investor shall modify,
amend or affect such Investor's right to rely on the Company's
representations and warranties contained in this
Agreement.

 

5.6 Restricted Securities. Such Investor
understands that the Securities are characterized as
"restricted securities" under the U.S. federal
securities laws inasmuch as they are being acquired from the
Company in a transaction not involving a public offering and that
under such laws and applicable regulations such securities may be
resold without registration under the 1933 Act only in certain
limited circumstances.

 

 

4

 

 

5.7 Legends. It
is understood that, except as
provided below,
certificates evidencing the Securities
may bear the following or any similar legend:

 

(a) "The
securities represented hereby may not be transferred
unless

(i) such securities have been registered for sale
pursuant to the Securities Act of 1933, as amended, (ii) such
securities may be sold pursuant to Rule 144(i), or
(iii)
the Company has received an opinion of
counsel reasonably satisfactory to it that such transfer may
lawfully be made without registration under the Securities Act of
1933 or qualification under applicable state securities
laws."

(b) If required by the authorities of any state in
connection with the issuance of sale of the
Securities, the legend required by such state
authority.

 

5.8 Accredited Investor. Such Investor is an
accredited investor as defined in Rule 501(a) of Regulation
D, as amended, under the
1933 Act.

 

5.9
No General Solicitation. Such Investor did not learn of the
investment in the Securities as a result of any public advertising
or general solicitation.

 

5.10 Brokers and Finders. No Person will have, as
a result of the transactions contemplated by the Transaction
Documents, any valid right, interest or claim against or upon the
Company, any Subsidiary or an Investor for any
commission, fee or other compensation pursuant to any
agreement, arrangement or understanding entered into by or on
behalf of such Investor.

 

6.
Conditions to Closing.

6.1 Conditions to the Investor's
Obligations.
The obligation of the Investor to
purchase the Note at Closing is subject to the fulfillment to such
Investor's satisfaction, on or prior to the Closing Date,
of the following conditions, any
of which may be waived by the Investor:

 

(a) The representations and warranties made by
the Company in Section 4 hereof qualified as to materiality
shall be true and correct at all times prior to and on the
Closing Date, except to the extent any such representation
or warranty expressly
speaks as of an earlier date,
in which case such representation or warranty
shall be true and correct as of
such earlier date, and, the representations and
warranties made by the Company in Section 4 hereof not qualified as
to materiality shall be true and correct in all material respects
at all times prior to and on the Closing Date,
except to the extent any such representation or warranty
expressly speaks
as of an earlier date, in which case
such representation or warranty shall be true and correct in
all
material respects as of such earlier
date. The Company shall have performed in all material respects all
obligations and conditions herein required to be performed
or observed by it on or prior to the Closing
Date.

 

(b) The Company shall have obtained any
and all consents,
permits, approvals, registrations and
waivers necessary or appropriate for consummation of the purchase
and sale of the Securities, and the consummation of the other
transactions contemplated by the Transaction
Documents, all of which shall be in full force and
effect.

 

(c) No judgment, writ, order, injunction, award or decree of or by any
court, or judge, justice or magistrate, including any bankruptcy
court or judge,
or any order of or by any governmental
authority, shall have been issued, and no action or proceeding
shall have been instituted by any governmental authority,
enjoining or
preventing the consummation of the
transactions contemplated hereby or in the other Transaction
Documents.

 

(d) The Company shall have executed and delivered
the Convertible Note and supporting
documentation.

 

(e) The Company shall have executed and delivered
the Irrevocable Transfer Agent Instructions.

 

(t)
No stop order or
suspension of
trading shall have
been imposed by the public markets on which the Company's common stock is traded or quoted, the
SEC or any other governmental or regulatory body with
respect to public trading in the Common Stock.

 

 

5

 

 

6.2 Conditions
to Obligations
of the Company. The Company's obligation to sell and issue the Note
at Closing is subject to the fulfillment to the
satisfaction of the Company on or
prior to the Closing Date of the following
conditions, any of which may be waived by the
Company:

 

(a) The representations and warranties made by the
Investor in Section 5 hereof, other than the representations and
warranties contained in Sections 5.3, 5.4, 5.5,
5.6, 5.7, 5.8 and 5.9 (the "Investment
Representations"), shall be true and correct in all material
respects when made, and shall be true and correct in all material
respects on the Closing Date with the same force and effect as if
they had been made on and as of said date. The Investment
Representations shall be true and correct in all respects when
made, and shall be true and correct in all respects on
the Closing Date with the same force and effect as if they had been
made on and as of said date. The Investor shall have performed in
all material respects all obligations and conditions herein
required to be performed or observed by them on or prior to the
Closing Date.

(b)
The Investor shall have delivered the Purchase Price to the Company
in accordance with the schedule outlined herein.

 

6.3
Termination of Obligations to Effect Closing; Effects.

 

(a) The obligations of the Company, on the one
hand, and the Investor, on the other
hand, to effect the Closing shall terminate as
follows:

 

(i)
Upon the mutual written consent of the Company and the
Investor;

 

(ii)
By the Company if any of the conditions set forth in Section 6.2
shall have become incapable of fulfillment, and shall not have been
waived by the Company;

 

(iii)
By the Investor if any of the conditions set forth in
Section

6.1 shall have
become incapable of fulfillment, and shall
not have been waived by the Investor; or
provided, however, that, except
in the case of clause (i) above, the party seeking to terminate its
obligation to effect the Closing shall not then be in
breach of any of its representations, warranties, covenants or
agreements contained in this Agreement or the other Transaction
Documents if such breach has resulted in the circumstances
giving rise to such party's seeking to terminate its obligation to
effect the Closing.

 

7.
Survival and Indemnification.

 

7.1 Survival. The
representations, warranties, covenants and agreements contained in
this Agreement shall survive the Closing of the transactions
contemplated by this Agreement.

 

7.2 Indemnification. The Company agrees to
indemnify and hold harmless each Investor and its Affiliates and
their respective directors, officers, employees and agents from and
against any and all losses, claims, damages, liabilities
and expenses (including without limitation reasonable attorney fees
and disbursements and other expenses incurred in
connection with investigating, preparing or defending any
action, claim or proceeding, pending or threatened and the costs of
enforcement thereof) (collectively, "Losses") to
which such Person may become subject as a result of any breach of
representation, warranty, covenant or agreement made by or to be
performed on the part of the Company under the Transaction
Documents, and will reimburse any such Person for all such amounts
as they are incurred by such Person.

 

7.3 Conduct of Indemnification Proceedings.
Promptly after receipt by any Person (the "Indemnified Person") of
notice of any demand, claim or circumstances which would or might
give rise to a claim or the commencement of any
action, proceeding or investigation in respect of which
indemnity may be sought pursuant to Section 7.2, such Indemnified
Person shall promptly notify the Company in writing and the Company
shall assume the defense thereof, including the employment of
counsel reasonably satisfactory to such Indemnified Person, and
shall assume the payment of all fees and expenses;
provided, however, that the failure of any Indemnified
Person so to notify the Company shall not relieve the Company of
its obligations hereunder except to the extent that the Company is
materially prejudiced by such failure to notify. In any such
proceeding, any Indemnified Person shall have the right to retain
its own counsel, but the fees and expenses of such counsel shall be
at the expense of such Indemnified Person unless: (i) the Company
and the Indemnified Person shall have mutually agreed to the
retention of such counsel; or (ii) in the reasonable judgment of
counsel to such Indemnified Person representation of both parties
by the same counsel would be inappropriate due to actual or
potential differing interests between them. The Company
shall not be liable for any settlement of any proceeding effected
without its written consent, which consent shall not be
unreasonably withheld, but if settled with such consent, or if
there be a [mal judgment for the plaintiff, the Company shall
indemnify and hold harmless such Indemnified Person from and
against any loss or liability (to the extent stated above) by
reason of such settlement or judgment. Without the prior written
consent of the Indemnified Person, which consent shall not be
unreasonably withheld, the Company shall not affect any settlement
of any pending or threatened proceeding in respect of which
any Indemnified Person is or could have been a party and indemnity
could have been sought hereunder by such Indemnified Party, unless
such settlement includes an unconditional release of such
Indemnified Person from all liability arising out of such
proceeding.

 

8. Miscellaneous.

 

8.1
Successors and Assigns. This Agreement may not be assigned by a
party hereto without the prior written consent of the Company or
the Investor, as applicable, provided, however, that an Investor
may assign its rights and delegate its duties hereunder in whole or
in part to an Affiliate or to a third party acquiring some or all
of its Securities in a private transaction without the prior
written consent of the Company, after notice duly given by such
Investor to the Company. The provisions of this Agreement shall
inure to the benefit of and be binding upon the respective
permitted successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or
by reason of this Agreement, except as expressly provided in this
Agreement.  

 

 

6

 

  

8.2 Counterparts; This Agreement may be executed
in two or more counterparts, each of which shall
be
deemed an original, but all of which
together shall constitute one
and the same instrument. This Agreement may also be executed
via facsimile, which shall be deemed an
original.

 

8.3 Titles and Subtitles. The
titles and subtitles used in this
Agreement are used for convenience only and are not to be
considered in construing or interpreting this
Agreement.

 

8.4 Notices. Unless
otherwise provided, any notice
required or permitted under this Agreement shall be given in
writing and shall be deemed effectively given as hereinafter
described (i) if given by personal delivery, then
such notice shall
be deemed given upon such delivery,
(ii) if given by fax, then such notice
shall be deemed given upon receipt of confirmation of complete
transmittal,
(iii) if given by mail, then such notice
shall be deemed given upon the earlier of (A) receipt of
such notice by the recipient or (8)
three days after such notice is
deposited in first class mail, postage prepaid, and (iv) if given
by an internationally recognized overnight air
courier, then such notice shall be
deemed given one business day after delivery to such carrier. All
notices shall be addressed to
the party to be notified at the address
as follows, or at such other address as such party may
designate by ten days' advance written notice to the other
party:

 

If to the Company:

 

Gene
S. Cartwright

CEO

Guided
Therapeutics, Inc

 

 

If to the Investor:

 

GHS Investments, LLC

420 Jericho Turnpike, Suite
207

Jericho,
NY 11753

 

8.5 Expenses. The parties hereto shall pay
their own costs and expenses in connection herewith. In the event that legal proceedings are
commenced by any party to this Agreement against another party to this Agreement in connection with this Agreement or
the other Transaction Documents, the party
or parties which do not
prevail in such proceedings shall severally, but not jointly, pay their
pro rata share of the reasonable attorneys' fees and
other reasonable out-of-pocket costs and expenses incurred by the prevailing party in
such proceedings.

 

8.6 Amendments and Waivers. Any
term of this
Agreement may be amended and the
observance of any term of this Agreement may be waived
(either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of
the Company and the Investor. Any amendment or waiver effected in
accordance with this paragraph shall be binding upon each holder of
any Securities purchased under this Agreement at the time
outstanding, each future holder of all such Securities, and the
Company.

 

8.7 Severability. Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating
the remaining provisions hereof but shall be interpreted as if it
were written so as to be enforceable to the maximum extent
permitted by applicable law,
and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the
parties hereby waive any provision of law which renders any
provision hereof prohibited or unenforceable in any
respect.

 

8.8 Entire Agreement. This Agreement, including
the Exhibits and the Disclosure Schedules, and the other
Transaction Documents constitute the entire agreement among the
parties hereof with
respect to the subject matter hereof
and thereof and supersede all prior agreements and
understandings,
both oral and written, between the
parties with respect to the subject matter hereof and
thereof.

 

8.9 Further Assurances. The parties
shall execute and deliver all such further instruments and documents and take
all such other actions as may reasonably be required to carry out
the transactions contemplated hereby and to evidence the
fulfillment of the agreements herein contained.

 

8.10 Governing Law; Consent to Jurisdiction;
Waiver of Jury Trial. This Agreement shall be governed by, and
construed in accordance with, the internal
laws of the State of Nevada, without regard to principles of
conflicts of Law. Each of the parties hereto irrevocably submit to
the exclusive jurisdiction of the state and federal courts sitting
in New York City, New York over any action or proceeding arising
out of or relating to this
Agreement and the parties hereto hereby irrevocably agree that all
claims in respect of such action or proceeding may be heard and
determined in such court. The parties
hereto agree that a [mal 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
parties hereto further waive any objection to venue in the State of
New York and any objection to an action or proceeding in the State
of New York on the basis of forum non
conveniens.

 

[signature
page follows]

 

 

7

 

 

IN WITNESS WHEREOF, the parties
have executed this Agreement or caused their
duly authorized
officers to execute this
Agreement as of the date first above written. The
Company:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:
/s/ Gene S. Cartwright

Name:
Gene S. Cartwright

Guided Therapeutics, Inc.

 

By:
/s/ Mark Grober

Name:
Mark Grober

Title:
Member

The Investor: GHS Investments, LLC.

 

8

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