Document:

Exhibit
10.20

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of December 4, 2014 by and between KIBUSH CAPITAL
CORP, a Nevada corporation, with headquarters located at 5635 N. Scottsdale Road, Suite 130, Scottsdale, AZ 85250 (the “Company”),
and Blackbridge Capital, LLC, a Delaware limited liability company, with its address at 450 7th Ave, Suite 601
New York, NY 10123 (the “Buyer”).

 

WHEREAS:

 

A.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
up to Three Million Dollars ($3,000,000) of the Company’s common stock (the “Securities” or “Shares”),
$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 this Agreement.

 

B.
The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Securities as is
set forth immediately below its name on the signature pages hereto; and

 

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

 

1.
Purchase and Sale of Securities.

 

a.
Purchase of Securities, Draw Down. During the term of this Agreement, the Company may request a “Draw Down”,
whereby the Company shall deliver to Buyer written notice to purchase a certain dollar amount of shares of common stock (a “Draw
Down Amount”). In no event may any Draw Down Amount be in an amount that would result in the beneficial ownership of more
than 9.99% of the outstanding stock of the Company by Buyer.

 

b.
Maximum Draw Down. The maximum Draw Down Amount allowed under this Agreement shall be equal to the lesser of $250,000 or
200% of the average daily trading volume for the ten (10) trading days immediately preceding the Draw Down Notice Date, multiplied
by the lowest trading price for the Company’s common stock over the ten (10) trading days immediately preceding the Draw
Down Notice Date.

 

c.
Draw Down Request Intervals. The Company may deliver its first Draw Down Notice to Buyer ten trading days from the effectiveness
of the Company’s S-1 Registration Statement, by which it shall register all shares underlying this Agreement. All subsequent
Draw Down Notices may be submitted to Buyer no sooner than 1 trading day after the end of the Valuation Period from the preceding
Draw Down Notice.

 

d.
Form of Payment, Purchase Price. The Purchase Price for each Draw Down Notice shall be equal to Eighty Five Percent (85%)
of the lowest trading price during the Valuation Period. On the date that a Draw Down Notice is delivered to Purchaser, the Company
shall deliver an estimated amount of shares to Purchaser’s brokerage account equal investment amount indicated in the Draw
Down Notice divided by 85% of the lowest trading price for the ten trading days immediately prior to the date of the Draw Down
Notice (the “Estimate d Shares”).

 

    	 
	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

e.
Valuation Period. Issuance of Additional Shares. The “Valuation Period” shall mean ten trading days, commencing
on the first trading day following delivery and clearing of the Draw Down Shares in Buyer’s brokerage account, as reported
by Buyer. If at the end of any Valuation Period, the number of Estimated Shares delivered is greater than the shares issuable
pursuant to a Draw Down, the Buyer shall return to the Company the difference between the Estimated Shares and the actual number
of shares issuable pursuant to the Draw Down. However, if at any time during the Valuation Period, the number of Estimated Shares
is less than the shares issuable under the Draw Down, then the Company shall issue additional shares to Buyer equal to the difference.
The Company may not issue a Draw Down Notice if the Buyer still holds shares from a preceding Draw Down.

 

f.
Commitment Fee. Upon the execution of this Agreement, the Company shall issue to Buyer an upfront commitment fee of a Convertible
Promissory Note in the amount of $105,000, and of 250,000 restricted shares of common stock that come with registration rights
and will be registered in the S-1 registration statement.

 

g.
Closing Date. The initial Closing Date shall be the date of execution of this Agreement, at which time the Commitment Fee
shall become due and payable. All Draw Downs shall be considered subsequent Closing Dates.

 

h.
Term. The Term of this Agreement shall expire Two Years from the date on which the Company’s S-1 Registration Statement
becomes effective.

 

i.
Registration of Securities. Buyer shall have registration rights with respect to all Securities underlying this Agreement,
which are issuable upon the Draw Down of all $3,000,000 of the Company’s Common Stock. The Company shall file a Form S-1
Registration Statement within 60 days of the execution of this Agreement, in order to register all Common Shares underlying this
Agreement. If such S-1 Registration Statement is not filed within 60 days of the execution of this Agreement, Buyer, in its sole
discretion, may terminate this Agreement. In addition, if the S-1 Registration Statement does not become effective within three
months from its initial filing date, Buyer may, in its sole discretion, terminate this Agreement. There shall be no cost or expense
on behalf of Buyer related to the registration of the shares underlying this Agreement. The Company must ensure that the Registration
Statement, once effective, remains effective at all times, not subject to any actual or threatened stop order or suspension. Irrespective
of the Company filing a Form S-1, or such Form S-1 becoming effective, or any other provisions in this Agreement, the Company
is obligated to issue to Buyer the Commitment Fee pursuant to Section f. of this Agreement upon execution of this Agreement. If
the effectiveness of the Registration Statement lapses for any reason at any time, Buyer, in its sole discretion, may terminate
this Agreement.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

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 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; provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant
to a registration statement or an exemption 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”).

 

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 Buyer and its advisors, if any, have been, and for so long as the Securities remain outstanding will continue
to be, furnished with all materials relating to the business, finances and operations of the Company and materials relating to
the offer and sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any,
have been, and for so long as the Securities remain outstanding will continue to be, afforded the opportunity to ask questions
of the Company. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic 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. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representative
s shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in
Section 3 below. The Buyer understands that its investment in the Securities involves a significant degree of risk. The Buyer
is not aware of any facts that may constitute a breach of any of the Company’s representations and warranties made herein.

 

e.
Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.
Transfer or Re-sale. The Buyer understands that (i) the sale or re- sale of the Securities has not been, at the time of
execution of this Agreement, registered under the 1933 Act or any applicable state securities laws, and the Securities may not
be transferred unless (a) the Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the
Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and
scope customary for opinions of counsel in comparable transactions to the effect that the Securities to be sold or transferred
may be sold or transferred pursuant to an exemption from such registration, which opinion shall be accepted by the Company, (c)
the Securities are sold or transferred to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or
a successor rule) (“Rule 144’)) of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance
with this Section 2(f) and who is an Accredited Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities
are sold pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have
delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary
for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities
made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable,
any re-sale of such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed
to be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933
Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation
to register such Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any
exemption thereunder (in each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities
may be pledged as collateral in connection with a bona fide margin account or other lending arrangement.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

g.
Legends. The Buyer understands that the Securities and, until such time as the Shares have been registered under the 1933
Act may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Shares may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

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

 

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 Rule 144 or Regulation
S 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 or Regulation S, at the Deadline,
it will be considered an Event of Default pursuant to Section 3.2 of the Securities.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

h.
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.

 

i.
Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

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. Schedule 3(a) sets forth a list of all of the Subsidiaries of the Company and the
jurisdiction in which each is incorporated. The Company and each of its Subsidiaries is duly qualified as a foreign corporation
to do business and is in good standing in every jurisdiction in which its ownership or use of property or the nature of the business
conducted by it makes such qualification necessary except where the failure to be so qualified or in good standing would not have
a Material Adverse Effect. “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. “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 Securities 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 Securities by the Company and the consummation
by it of the transactions contemplated hereby and thereby 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, (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 Securities,
each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable against the Company
in accordance with its terms.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

c.
Capitalization. As of the date hereof, the authorized capital stock of the Company consists of: (i) 500,000,000 shares of Common
Stock, $0,001 par value per share, of which 53,337,485 shares were issued and outstanding as of December 4, 2014; ________ shares
are reserved for issuance pursuant to securities. All of such outstanding shares of capital stock are, or upon issuance will be,
duly authorized, validly issued, fully paid and non-assessable. No shares of capital stock of the Company are subject to preemptive
rights or any other similar rights of the shareholders of the Company or any liens or encumbrances imposed through the actions
or failure to act of the Company. As of the effective date of this Agreement, (i) there are no outstanding options, scrip, rights
to subscribe for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments or rights of any
character whatsoever relating to, or securities or rights convertible into or exchangeable for any shares of capital stock of
the Company or any of its Subsidiaries, or arrangements by which the Company or any of its Subsidiaries is or may become bound
to issue additional shares of capital stock of the Company or any of its Subsidiaries, (ii) there are no agreements or arrangements
under which the Company or any of its Subsidiaries is obligated to register the sale of any of its or their securities under the
1933 Act and (iii) there are no anti-dilution or price adjustment provisions contained in any security issued by the Company (or
in any agreement providing rights to security holders) that will be triggered by the issuance of the Securities. The Company has
furnished to the Buyer true and correct copies of the Company’s Certificate of Incorporation as in effect on the date hereof
(“Certificate of Incorporation”), the Company’s By-laws, as in effect on the date hereof (the “By-laws”),
and the terms of all securities convertible into or exercisable for Common Stock of the Company and the material rights of the
holders thereof in respect thereto. The Company shall provide the Buyer with a written update of this representation signed by
the Company’s Chief Executive on behalf of the Company as of the Closing Date.

 

d.
Issuance of Shares. The Shares are duly authorized and reserved for issuance and, 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.
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock
upon the issuance of the Shares. The Company further acknowledges that its obligation to issue the Shares in accordance with this
Agreement, and the issuance of such Shares is absolute and unconditional regardless of the dilutive effect that such issuance
may have on the ownership interests of other shareholders of the Company.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

f.
No Conflicts. The execution, delivery and performance of this Agreement, the Securities by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby 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). Neither the Company nor any of its Subsidiaries is in violation of its Certificate of Incorporation, By-laws or other
organizational documents and neither the Company nor any of its Subsidiaries is in default (and no event has occurred which with
notice or lapse of time or both could put the Company or any of its Subsidiaries in default) under, and neither the Company nor
any of its Subsidiaries has taken any action or failed to take any action that would give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its Subsidiaries
is a party or by which any property or assets of the Company or any of its Subsidiaries is bound or affected, except for possible
defaults 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. Except as specifically contemplated by this Agreement
and as required under the 1933 Act and any applicable state securities laws, the Company is not required to obtain any consent,
authorization or order of, or make any filing or registration with, any court, governmental agency, regulatory agency, self regulatory
organization or stock market or any third party in order for it to execute, deliver or perform any of its obligations under this
Agreement, the Securities in accordance with the terms hereof or thereof or to issue and sell the Securities in accordance with
the terms hereof and to issue the Shares. All consents, authorizations, orders, filings and registrations which the Company is
required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company
is not in violation of the listing requirements of the Over-the- Counter Bulletin Board (the “OTCBB”) and does not
reasonably anticipate that the Common Stock will be delisted by the OTCBB in the foreseeable future. The Company and its Subsidiaries
are unaware of any facts or circumstances which might give rise to any of the foregoing. If any Material Adverse Event takes place
during the term of this Agreement, no Draw Down Notice may be delivered by Company to Buyer, and Buyer may, in its sole discretion,
terminate this Agreement. In addition, if a Material Adverse Effect or Event occurs subsequent to a Draw Down Purchase Price being
paid by Buyer, but prior to the sale of the Draw Down Shares, Buyer, in its sole discretion, may be entitled to receive the immediate
return of the Purchase Price funds.

 

g.
SEC Documents; Financial Statements. The Company has, or once it becomes a public entity will, timely file 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, 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 Document s, 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, 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).
Except as set forth in the financial statements of the Company included in the SEC or any applicable body Documents, the Company
has no liabilities, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent
to June 30, 2014, and (ii) obligations under contracts and commitments incurred in the ordinary course of business and not required
under generally accepted accounting principles to be reflected in such financial statements, which, individually or in the aggregate,
are not material to the financial condition or operating results of the Company. The Company is subject to the reporting requirements
of the 1934 Act.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

h.
Absence of Certain Changes. Since June 30, 2014 there have 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.

 

i.
Absence of Litigation. 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. Schedule 3(i) contains a complete list and summary description of any pending or, to
the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would 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.

 

j.
Patents, Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to
use all patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications,
service marks, service names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct
its business as now operated (and, as presently contemplated to be operated in the future); there is no claim or action by any
person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges the right of the
Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business as now operated
(and, as presently contemplated to be operated in the future); to the best of the Company’s knowledge, the Company’s
or its Subsidiaries’ current and intended products, services and processes do not infringe on any Intellectual Property
or other rights held by any person; and the Company is unaware of any facts or circumstances which might give rise to any of the
foregoing. The Company and each of its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality
and value of their Intellectual Property.

 

k.
No Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate
or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

l.
Tax Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all other
tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that
the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid
and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown
or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside
on its books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
jurisdiction, and the officers of the Company know of no basis for any such claim. The Company has not executed a waiver with
respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None
of the Company’s tax returns is presently being audited by any taxing authority.

 

m.
Certain Transactions. None of the officers, directors, or employees of the Company is presently a party to any transaction
with the Company or any of its Subsidiaries (other than for services as employees, officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property
to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company,
any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest
or is an officer, director, trustee or partner. In addition, Company agrees that during the term of this Agreement, it shall not
enter into a similar financing arrangement with any other individual or entity.

 

n.
Disclosure. All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement
and provided to the Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby
is true and correct in all material respects and the Company has not omitted to state any material fact necessary in order to
make the statements made herein or therein, in light of the circumstances under which they were made, not misleading. No event
or circumstance has occurred or exists with respect to the Company or any of its Subsidiaries or its or their business, properties,
prospects, operations or financial conditions, which, under applicable law, rule or regulation, requires public disclosure or
announcement by the Company but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s
reports filed under the 1934 Act are being incorporated into an effective registration statement filed by the Company under the
1933 Act).

 

o.
Acknowledgment Regarding Buyer’s Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting
solely in the capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby.
The Company further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of
its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice
or a recommendation and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to
the Buyer that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of
the Company and its representatives.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

p.
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 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.

 

q.
No Brokers. 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.

 

r.
Permits; Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations,
licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and
operate its properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”),
and there is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of
the Company Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of
the Company Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect. Since September 30, 2013, neither the Company nor any of its Subsidiaries
has received any notification with respect to possible conflicts, defaults or violations of applicable laws, except for notices
relating to possible conflicts, defaults or violations, which conflicts, defaults or violations would not have a Material Adverse
Effect.

 

s.
Environmental Matters.

 

(i)
There are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the
Company, no past or present violations of Environmental Laws (as defined below), releases of any material into the environment,
actions, actlv1t1es, circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common
law environmental liability or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of
1980 or similar federal, state, local or foreign laws and neither the Company nor any of its Subsidiaries has received any notice
with respect to any of the foregoing, nor is any action pending or, to the Company’s knowledge, threatened in connection
with any of the foregoing. The term “Environmental Laws” means all federal, state, local or foreign laws relating
to pollution or protection of human health or the environment (including, without limitation, ambient air, surface water, groundwater,
land surface or subsurface strata), including, without limitation, laws relating to emissions, discharges, releases or threatened
releases of chemicals, pollutants contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”)
into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

(ii)
Other than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials
were released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during
the period the property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the
Company’s or any of its Subsidiaries’ business.

 

(iii)
There are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

t.
Title to Property. The Company and its Subsidiaries have good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(t) or such as would
not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

u.
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that
it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from
similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written
request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’
liability coverage, errors and omissions coverage, and commercial general liability coverage.

 

v.
Internal Accounting Controls. The Company and each of its Subsidiaries maintain a system of internal accounting controls
sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset
accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

 

w.
Foreign Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee
or other person acting on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the
Company, used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political
activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate
funds; violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or
employee.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

x.
Solvency. The Company (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e., its assets
have a fair market value in excess of the amount required to pay its probable liabilities on its existing debts as they become
absolute and matured) and currently the Company has no information that would lead it to reasonably conclude that the Company
would not, after giving effect to the transaction contemplated by this Agreement, have the ability to, nor does it intend to take
any action that would impair its ability to, pay its debts from time to time incurred in connection therewith as such debts mature.
The Company did not receive a qualified opinion from its auditors with respect to its most recent fiscal year end and, after giving
effect to the transactions contemplated by this Agreement, does not anticipate or know of any basis upon which its auditors might
issue a qualified opinion in respect of its current fiscal year.

 

y.
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.

 

z.
Breach of Representations and Warranties by 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.

 

4.
Covenants.

 

a.
Best Efforts. The parties shall use their best efforts to satisfy timely each of the conditions described in Section 6
and 7 of this Agreement.

 

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

 

c.
Expenses. At each Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation,
preparation, execution, delivery and performance of this Agreement and the other agreements to be executed in connection herewith
(“Documents”), including, without limitation, reasonable attorneys’ and consultants’ fees and expenses,
transfer agent fees, fees for stock quotation services, fees relating to any amendments or modifications of the Documents or any
consents or waivers of provisions in the Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of
restructuring the transactions contemplated by the Documents. When possible, the Company must pay these fees directly, otherwise
the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately upon written notice
by the Buyer or the submission of an invoice by the Buyer. In respect of this Transaction, the Company shall reimburse Buyer for
Buyer’s expenses at each Closing, which shall be listed in the disbursement authorization and shall be included in the total
funding amount.

 

d.
Financial Information. Upon written request the Company agrees to send or make available the following reports to the Buyer
until the Buyer transfers, assigns, or sells all of the Securities: (i) within ten (10) days after the filing with the SEC, a
copy of its Annual Report on Form 10-K its Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K; (ii) within two
(2) days after release, copies of all press releases issued by the Company or any of its Subsidiaries; and (iii) contemporaneously
with the making available or giving to the shareholders of the Company, copies of any notices or other information the Company
makes available or gives to such shareholders.

 

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	DLCR-EZ-R01-1214

     

    

 

e.
Listing. The Company shall promptly secure the listing of the Shares upon each national securities exchange or automated
quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long
as the Buyer owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such
listing of all Shares from time to time issuable upon future Closings. The Company will obtain and, so long as the Buyer owns
any of the Securities, maintain the listing and trading of its Common Stock on the OTCBB or any equivalent replacement quotation
service, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap Market (“Nasdaq SmallCap”), the New
York Stock Exchange (“NYSE”), or the American Stock Exchange (“AMEX”) and will comply in all respects
with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory
Authority (“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any
notices it receives from the OTCBB and any other exchanges or quotation systems on which the Common Stock is then listed regarding
the continued eligibility of the Common Stock for listing on such exchanges and quotation systems.

 

f.
Corporate Existence. So long as the Buyer beneficially owns any Securities, the Company shall maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or
sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i)
assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith
and (ii) is a publicly traded corporation whose Common Stock is listed for trading on the OTCBB or any equivalent replacement
quotation service, Nasdaq, Nasdaq SmallCap, NYSE or AMEX.

 

g.
No Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

h.
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.

 

i.
Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Securities, 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.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

j.
Trading Activities. Neither the Buyer nor its affiliates has an open short position in the common stock of the Company
and the Buyer agree 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.

 

k.
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 Shares in such amounts as specified from time to time by the Buyer
to the Company (the “Irrevocable Transfer Agent Instructions”). In the event that the Borrower proposes to replace
its transfer agent, the Borrower 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 the Purchase Agreement (including but not limited to
the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent to
Borrower and the Borrower. The Company warrants that: (i) no instruction other than the Irrevocable Transfer Agent Instructions
referred to in this Section 5, and stop transfer instructions to give effect to Section 2(f) hereof, 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; (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 Shares to be
issued to the Buyer pursuant to 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 Shares issued to the Buyer pursuant to this Agreement. Nothing in
this Section shall affect in any way the Buyer’s obligations and agreement set forth in Section 2(g) hereof to comply with
all applicable prospectus delivery requirements, if any, upon re-sale of the Securities. If the Buyer provides the Company, at
the cost of the Buyer, with (i) 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 and such sale
or transfer is effected or (ii) the Buyer provides reasonable assurances that the Securities can be sold pursuant to Rule 144,
the Company shall permit the transfer, 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 this 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.

 

l.
Conditions to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Shares
to the Buyer at each Closing is subject to the satisfaction, at or before each 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:

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

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

 

ii.
The Seller shall have requested a draw down of an amount of Securities to be purchased.

 

iii.
The Buyer shall have delivered the Purchase Price upon the deposit of the shares in Buyer’s brokerage account.

 

iv.
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 each 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 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 Buyer at or prior to each Closing Date.

 

v.
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.

 

m.
Conditions to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Securities
at each Closing is subject to the satisfaction, at or before each 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:

 

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

 

ii.
The Company shall have delivered to the Buyer a draw down notice.

 

iii.
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 certificate s with respect to the Company’s Certificate of Incorporation, By-laws and Board of Directors’
resolutions relating to the transactions contemplated hereby.

 

iv.
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.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

v.
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.

 

vi.
The Shares shall have been authorized for quotation on the OTCBB (or any equivalent replacement quotation service) and trading
in the Common Stock on the OTCBB shall not have been suspended by the SEC or the OTCBB.

 

vii.
The Buyer shall have received an officer’s certificate described in Section 3(c) above, dated as of the initial Closing
Date.

 

5.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York 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 state 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 uponforum 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 or any other Transaction Document 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.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

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.

 

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:

 

If
to the Company, to:

KIBUSH
CAPITAL CORP 5635 N. Scottsdale Road,

Suite
130

Scottsdale,
AZ 85250

 

If
to the Buyer:

Blackbridge
Capital, LLC

	 	 
	 	 
	 	 

 

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, subject to Section 2(f), 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.

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

h.
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
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 a 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.

 

j.
Publicity. The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of any
press releases, SEC, OTCBB or FINRA filings, or any other public statements with respect to the transactions contemplated hereby;
provided, however, that the Company shall be entitled, without the prior approval of the Buyer, to make any press release or SEC,
OTCBB (or other applicable trading market) or FINRA filings with respect to such transactions as is required by applicable law
and regulations (although the Buyer shall be consulted by the Company in connection with any such press release prior to its release
and shall be provided with a copy thereof and be given an opportunity to comment thereon).

 

k.
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.

 

l.
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.

 

m.
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.

 

Signature
Page to follow 

 

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	Blackbridge Capital LLC
	DLCR-EZ-R01-1214

     

    

 

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

 

 

	KIBUSH
    CAPITAL CORP	 
	 
	/s/
    Warren Sheppard	 
	By:	Warren
    Sheppard	 
	Title:	CEO	 
	 	 	 
	Blackbridge
    Capital, LLC	 
	DocuSigned
    by:	 
	 	 	 
	/s/
    Alexander Dillon	 
	By:
    	Alexander
    Dillon	 
	Title:
    	Principal	 

 

    	19
	 
	Blackbridge Capital LLC
	DLCR-EZ-R01-1214Exhibit
10.21

 

NEITHER
THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”) OR ANY STATE SECURITIES LAWS AND NEITHER THIS NOTE NOR ANY INTEREST THEREIN NOR THE SECURITIES INTO WHICH
THIS NOTE IS CONVERTIBLE MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT AND SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS.

 

CONVERTIBLE
PROMISSORY NOTE 

 

Principal
Amount: $ 105,000.00

 

Issue
Date: December 4, 2014

 

Maturity
Date: December 4, 2015

 

For
good and valuable consideration, KIBUSH CAPITAL CORP a Nevada corporation (“Maker”), hereby makes and delivers
this Promissory Note (this “Note”) in favor of Blackbridge Capital, LLC, or its assigns (“Holder”),
and hereby agrees as follows:

 

ARTICLE
I.

PRINCIPAL
AND INTEREST

 

Section
1.1 For value received, Maker promises to pay to Holder at such place as Holder or its assigns may designate in writing, in
currently available funds of the United States, the principal sum of One Hundred Five Thousand Dollars. Maker’s obligation
under this Note shall accrue interest at the rate of Eight percent (8.0%) per annum from the date hereof until paid in
full. Interest shall be computed on the basis of a 365-day year or 366-day year, as applicable, and actual days lapsed. Accrual
of interest shall commence on the first business day to occur after the Issue Date and continue until payment in full of the principal
sum has been made or duly provided for.

 

Section
1.2

 

a.
All payments shall be applied first to interest, then to principal and shall be credited to the Maker’s account on the date
that such payment is physically received by the Holder.

 

b.
All principal and accrued interest then outstanding shall be due and payable by the Maker to the Holder on or before December
4, 2015 (the “Maturity Date”).

 

c.
Maker shall have no right to prepay all or any part of the principal under this Note.

 

d.
This Note is 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 Maker and will not impose personal liability upon the holder
thereof.

 

Section
1.3 This Note is considered earned upfront on the Issue Date and issued in exchange solely for commitment fee earned in securities
equity purchase agreement attached below.

 

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	DLCR-EZ-R01-1214

     

    

 

ARTICLE
II.

CONVERSION
RIGHTS; CONVERSION PRICE

 

Section
2.1 Conversion. The Holder or its assigns shall have the right, from time to time, commencing on the Issuance
Date of this Note, to convert any part of the outstanding interest or Principal Amount of this Note into fully paid and non-assessable
shares of Common Stock of the Maker (the “Conversion Stock”) at the Conversion Price determined as provided herein.
Promptly after delivery to Maker of a Notice of Conversion of Convertible Note in the form attached hereto as Exhibit 1,
properly completed and duly executed by the Holder or its assigns (a “Conversion Notice”), the Maker shall issue and
deliver to or upon the order of the Holder that number of shares of Common Stock for the that portion of this Note to be converted
as shall be determined in accordance herewith.

 

No
fraction of a share or scrip representing a fraction of a share will be issued on conversion, but the number of shares issuable
shall be rounded to the nearest whole share. The date on which Notice of Conversion is given (the “Conversion Date”)
shall be deemed to be the date on which the Holder faxes or emails the Notice of Conversion duly executed to the Maker. Certificates
representing Common Stock upon conversion will be delivered to the Holder within two (2) trading days from the date the Notice
of Conversion is delivered to the Maker. Delivery of shares upon conversion shall be made to the address specified by the Holder
or its assigns in the Notice of Conversion.

 

Section
2.2. Conversion Price. Upon any conversion of this Note, the Conversion Price shall equal Ninety Percent (90%) of the lowest
Trading Price (defined below) during the Valuation Period (defined below), and the Conversion Amount shall be the amount of principal
or interest electively converted in the Conversion Notice. The total number of shares due under any conversion notice (“Notice
Shares”) will be equal to the Conversion Amount divided by the Conversion Price.

 

On
the date that a Conversion Notice is delivered to Holder, the Company shall deliver an estimated number of shares (“Estimated
Shares”) to Holder’s brokerage account equal to the Conversion Amount divided by 90% of the Market Price. “Market
Price” shall mean the lowest of the daily Trading Price for the Common Stock during the ten (10) Trading Day period ending
on the latest complete Trading Day prior to the Conversion Date.

 

The
“Valuation Period” shall mean forty (40) Trading Days, commencing on the first Trading Day following delivery and
clearing of the Estimated Shares in Holder’s brokerage account, as reported by Holder (“Valuation Start Date”).
If at any time, one or multiple times, during the Valuation Period the number of Estimated Shares delivered to Holder is less
than the Notice Shares, the company must immediately deliver enough shares equal to the difference. If at the end of the Valuation
Period the number of Estimated Shares delivered to Holder is greater than the Notice Shares, the Holder shall return to the Company
shares equal to the difference. A Conversion Amount will not be considered fully converted until the end of the Valuation Period
for that Conversion Amount.

 

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	DLCR-EZ-R01-1214

     

    

 

“Trading
Price” means, for any security as of any date, any trading price on the OTC Bulletin Board, or other applicable trading
market (the “OTCBB”) as reported by a reliable reporting service (“Reporting Service”) mutually acceptable
to Maker and Holder (i.e. Bloomberg) or, if the OTCBB is not the principal trading market for such security, the volume weighted
average price of such security on the principal securities exchange or trading market where such security is listed or traded.
“Trading Day” shall mean any day on which the Common Stock is tradable 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.

 

Section
2.3. Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Maker shall
reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Maker is
not the surviving corporation or where there is a change in or distribution with respect to the Common Stock of the Maker), or
sell, transfer or otherwise dispose of all or substantially all its property, assets or business to another corporation and, pursuant
to the terms of such reorganization, reclassification, merger, consolidation or disposition of assets, shares of common stock
of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring
corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock of the Maker,
then Holder shall have the right thereafter to receive, upon conversion of this Note, the number of shares of common stock of
the successor or acquiring corporation or of the Maker, if it is the surviving corporation, and Other Property receivable upon
or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of the number
of shares of Common Stock into which this Note is convertible immediately prior to such event. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than the Maker)
shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Note to
be performed and observed by the Maker and all the obligations and liabilities hereunder, subject to such modifications as may
be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Maker) in order to provide for
adjustments of the number of shares of common stock into which this Note is convertible which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 2.3(a). For purposes of this Section 2.3(a), “common stock of
the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to
dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include
any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock,
either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights
to subscribe for or purchase any such stock. The foregoing provisions of this Section 2.3(a) shall similarly apply to successive
reorganizations, reclassifications, mergers, consolidations or disposition of assets.

 

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Section
2.4. Restrictions on Securities. This Note has been issued by the Maker pursuant to the exemption from registration
under the Securities Act of 1933, as amended (the “Act”). None of this Note or the shares of Common Stock issuable
upon conversion of this Note may be offered, sold or otherwise transferred unless (i) they first shall have been registered under
the Act and applicable state securities laws or (ii) the Maker shall have been furnished with an opinion of legal counsel (in
form, substance and scope reasonably acceptable to Maker) to the effect that such sale or transfer is exempt from the registration
requirements of the Act. Each certificate for shares of Common Stock issuable upon conversion of this Note that have not been
so registered and that have not been sold pursuant to an exemption that permits removal of the applicable legend, shall bear a
legend substantially in the following form, as appropriate:

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”). THE SECURITIES
REPRESENTED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE ACT AND APPLICABLE STATE
SECURITIES LAWS, OR SUCH OFFERS, SALES AND TRANSFERS ARE MADE PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THOSE LAWS.

 

Upon
the request of a holder of a certificate representing any shares of Common Stock issuable upon conversion of this Note, the Maker
shall remove the foregoing legend from the certificate or issue to such Holder a new certificate free of any transfer legend,
if (a) with such request, the Maker shall have received an opinion of counsel, reasonably satisfactory to the Maker in form, substance
and scope, to the effect that any such legend may be removed from such certificate or (b) a registration statement under the Act
covering such securities is in effect.

 

Section
2.5. Reservation of Common Stock.

 

(a)
The Maker covenants that during the period the Note is outstanding, it will reserve from its authorized and unissued Common Stock
a sufficient number of shares to provide for the issuance of Common Stock of the Maker upon the Conversion of the Note. The Maker
further covenants that its issuance of this Note shall constitute full authority to its officers who are charged with the duty
of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock of the Maker issuable
upon the conversion of this Note. The Maker will take all such reasonable action as may be necessary to assure that such shares
of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the OTC Bulletin Board (or such other principal market upon which the Common Stock of the Maker may be listed or quoted).

 

(b)
The Maker shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek
to avoid the observance or performance of any of the terms of this Note, but will at all times in good faith assist in the carrying
out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder
against impairment.

 

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Without
limiting the generality of the foregoing, the Maker will (a) not increase the par value of any shares of Common Stock issuable
upon the conversion of this Note above the amount payable therefor upon such conversion immediately prior to such increase in
par value, (b) take all such action as may be necessary or appropriate in order that the Maker may validly and legally issue fully
paid and non-assessable shares of Common Stock upon the conversion of this Note, and (c) use its best efforts to obtain all such
authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable
the Maker to perform its obligations under this Note.

 

(c)
Upon the request of Holder, the Maker will at any time during the period this Note is outstanding acknowledge in writing, in form
reasonably satisfactory to Holder, the continuing validity of this Note and the obligations of the Maker hereunder.

 

(d)
Before taking any action which would cause an adjustment reducing the current Conversion Price below the then par value, if any,
of the shares of Common Stock issuable upon conversion of the Notes, the Maker shall take any corporate action which may be necessary
in order that the Maker may validly and legally issue fully paid and nonassessable shares of such Common Stock at such adjusted
Conversion Price.

 

(e)
Before taking any action which would result in an adjustment in the number of shares of Common Stock into which this Note is convertible
or in the Conversion Price, the Maker shall obtain all such authorizations or exemptions thereof, or consents thereto, as may
be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(f)
If at any time the Maker does not have a sufficient number of authorized and available shares of Common Stock for issuance upon
conversion of the Note, then the Maker shall call and hold a special meeting of its stockholders within forty-five (45) days of
that time for the sole purpose of increasing the number of authorized shares of Common Stock.

 

Section
2.6.  Maximum Conversion.

 

The
Holder shall not be entitled to convert on a Conversion Date that amount of the Notes in connection with that number of shares
of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Holder
and its affiliates on Conversation Date, and (ii) the number of shares of Common Stock issuable upon the conversion of the Notes
with respect to which the determination of this provision is being made on a Conversion Date, which would result in beneficial
ownership by the Holder and its Affiliates of more than 9.99% of the outstanding shares of Common Stock of the Company on such
Conversion Date. For the purposes of the provision 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, and Regulation 13d-3 thereunder.

 

ARTICLE
III.

REPRESENTATIONS
AND WARRANTIES

 

Section
3.1. The Holder represents and warrants to the Maker:

 

(a)
The Holder of this Note, by acceptance hereof, agrees that this Note is being acquired for investment and that such Holder will
not offer, sell or otherwise dispose of this Note or the Common Stock issuable upon conversion hereof except under circumstances
that will not result in a violation of the Act or any application state securities laws or similar laws relating to the sale of
securities;

 

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(b)
That Holder understands that none of this Note or the Common Stock issuable upon conversion hereof have been registered under
the Securities Act of 1933, as amended (the “Act”), in reliance upon the exemptions from the registration provisions
of the Act and any continued reliance on such exemption is predicated on the representations of the Holder set forth herein;

 

(c)
Holder (i) has adequate means of providing for his current needs and possible contingencies, (ii) has no need for liquidity in
this investment, (iii) is able to bear the substantial economic risks of an investment in this Note for an indefinite period,
(iv) at the present time, can afford a complete loss of such investment, and (v) does not have an overall commitment to investments
which are not readily marketable that is disproportionate to Holder’s net worth, and Holder’s investment in this Note
will not cause such overall commitment to become excessive;

 

(d)
Holder is an “accredited investor” (as defined in Regulation D promulgated under the Act) and the Holder’s
total investment in this Note does not exceed 10% of the Holder’s net worth; and

 

(e)
Holder recognizes that an investment in the Maker involves significant risks and only investors who can afford the loss of their
entire investment should consider investing in the Maker and this Note.

 

Section
3.2 The Maker represents and warrants to Holder:

 

Organization
and Qualification. The Maker 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. The Maker and each of its Subsidiaries is duly qualified as a foreign corporation to do business and is in good
standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such
qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect.
“Material Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition
or prospects of the Maker 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. “Subsidiaries” means any corporation or other
organization, whether incorporated or unincorporated, in which the Maker owns, directly or indirectly, any equity or other ownership
interest.

 

Authorization;
Enforcement. (i) The Maker has all requisite corporate power and authority to enter into and perform this Note and to consummate
the transactions contemplated hereby and thereby and to issue the Common Stock, in accordance with the terms hereof, (ii) the
execution and delivery of this Note by the Maker 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 Common Stock issuable
upon conversion or exercise hereof) have been duly authorized by the Maker’s Board of Directors and no further consent or
authorization of the Maker, its Board of Directors, or its shareholders is required, (iii) this Note has been duly executed and
delivered by the Maker by its authorized representative, and such authorized representative is the true and official representative
with authority to sign this Note and the other documents executed in connection herewith and bind the Maker accordingly, and (iv)
this Note constitutes, a legal, valid and binding obligation of the Maker enforceable against the Maker in accordance with its
terms.

 

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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
Maker and will not impose personal liability upon the holder thereof.

 

Acknowledgment
of Dilution. The Maker understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of the Conversion Shares upon conversion of this Note. The Maker further acknowledges that its obligation to issue Conversion
Shares upon conversion of this Note is absolute and unconditional regardless of the dilutive effect that such issuance may have
on the ownership interests of other shareholders of the Maker.

 

ARTICLE
IV.

EVENTS
OF DEFAULT

 

Section
4.1. Default. The following events shall be defaults under this Note: (“Events of Default”):

 

(a)
default in the due and punctual payment of all or any part of any payment of interest or the Principal Amount as and when such
amount or such part thereof shall become due and payable hereunder; or

 

(b)
failure on the part of the Maker duly to observe or perform in all material respects any of the covenants or agreements on the
part of the Maker contained herein (other than those covered by clause (a) above) for a period of 5 business days after the date
on which written notice specifying such failure, stating that such notice is a “Notice of Default” hereunder and demanding
that the Maker remedy the same, shall have been given by the Holder by registered or certified mail, return receipt requested,
to the Maker; or

 

(c)
any representation, warranty or statement of fact made by the Maker herein when made or deemed to have been made, false or misleading
in any material respect; provided, however, that such failure shall not result in an Event of Default to the extent it
is corrected by the Maker within a period of 5 business days after the date on which written notice specifying such failure, stating
that such notice is a “Notice of Default” hereunder and demanding that the Maker remedy same, shall have been given
by the Holder by registered or certified mail, return receipt requested; or

 

(d)
any of the following actions by the Maker pursuant to or within the meaning title 11, U.S. Code or any similar federal or state
law for the relief of debtors (collectively, the “Bankruptcy Law”): (A) commencement of a voluntary case or proceeding,
(B) consent to the entry of an order for relief against it in an involuntary case or proceeding, (C) consents to the appointment
of a receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law (each, a “Custodian”), of
it or for all or substantially all of its property, (D) a general assignment for the benefit of its creditors, or (E) admission
in writing its inability to pay its debts as the same become due; or

 

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(e)
entry by a court of competent jurisdiction of an order or decree under any Bankruptcy Law that: (A) is for relief against the
Maker in an involuntary case, (B) appoints a Custodian of the Maker or for all or substantially all of the property of the Maker,
or (C) orders the liquidation of the Maker, and such order or decree remains unstayed and in effect for 60 days.

 

Section
4.2. Remedies Upon Default. Upon the occurrence of an event of default by Maker under this Note or at any time before
default when the Holder reasonably feels insecure, then, in addition to all other rights and remedies at law or in equity, Holder
may exercise any one or more of the following rights and remedies:

 

a.
Accelerate the time for payment of all amounts payable under this Note by written notice thereof to Maker, whereupon all such
amounts shall be immediately due and payable.

 

b.
Pursue any other rights or remedies available to Holder at law or in equity.

 

c.
Increasing the Principal Amount due under this Note by $500 per day per Event of Default the Maker is in Default pursuant to this
Note.

 

Section
4.3. Payment of Costs. The Maker shall reimburse the Holder, on demand, for any and all reasonable costs and expenses,
including reasonable attorneys’ fees and disbursement and court costs, incurred by the Holder in collecting or otherwise
enforcing this Note or in attempting to collect or enforce this Note.

 

Section
4.4. Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. No right or remedy herein conferred upon
or reserved to the Holder is intended to be exclusive of any other right or remedy available to Holder under applicable law, and
every such right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. No
delay or omission of the Holder to exercise any right or power accruing upon any Default occurring and continuing as aforesaid
shall impair any such right or power or shall be construed to be a waiver of any such Default or an acquiescence therein; and
every power and remedy given by this Note or by law may be exercised from time to time, and as often as shall be deemed expedient,
by the Holder.

 

Section
4.5. Waiver of Past Defaults. The Holder may waive any past default or Event of Default hereunder and its consequences
but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

 

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Section
4.6. Waiver of Presentment etc. The Maker hereby waives presentment, demand, notice, protest and all other demands
and notices in connection with the delivery, acceptance, performance and enforcement of this Note, except as specifically provided
herein.

 

ARTICLE
V.

MISCELLANEOUS

 

Section
5.1. Notices. Any notice herein required or permitted to be given shall be in writing and may be personally served
or delivered by courier or sent by United States mail and shall be deemed to have been given upon receipt if personally served
(which shall include telephone line facsimile transmission) or sent by courier or three (3) days after being deposited in the
United States mail, certified, with postage pre-paid and properly addressed, if sent by mail. For the purposes hereof, the address
of the Holder shall be 450 7th Ave. Suite 601, New York, NY 10123; and the address of the Maker shall be 5635 N. Scottsdale
Road, Suite 130, Scottsdale, AZ 85250. Both the Holder or its assigns and the Maker may change the address for service by delivery
of written notice to the other as herein provided.

 

Section
5.2. Amendment. This Note and any provision hereof may be amended only by an instrument in writing signed by the Maker
and the Holder.

 

Section
5.3. Assignability. This Note shall be binding upon the Maker and its successors and assigns and shall inure to be
the benefit of the Holder and its successors and assigns; provided, however, that so long as no Event of Default has occurred,
this Note shall only be transferable in whole subject to the restrictions contained in the restrictive legend on the first page
of this Note.

 

Section
5.4. Governing Law. This Note shall be governed by the internal laws of the State of Delaware, without regard to conflicts
of laws principles.

 

Section
5.5. Replacement of Note. The Maker covenants that upon receipt by the Maker of evidence reasonably satisfactory to
it of the loss, theft, destruction or mutilation of this Note, and in case of loss, theft or destruction, of indemnity or security
reasonably satisfactory to it (which shall not include the posting of any bond), and upon surrender and cancellation of such Note,
if mutilated, the Maker will make and deliver a new Note of like tenor.

 

Section
5.6. This Note shall not entitle the Holder to any of the rights of a stockholder of the Maker, including without limitation,
the right to vote, to receive dividends and other distributions, or to receive any notice of, or to attend, meetings of stockholder
or any other proceedings of the Maker, unless and to the extent converted into shares of Common Stock in accordance with the terms
hereof.

 

Section
5.7. Severability. In case any provision of this Note is held by a court of competent jurisdiction to be excessive
in scope or otherwise invalid or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is
enforceable to the maximum extent possible, and the validity and enforceability of the remaining provisions of this Note will
not in any way be affected or impaired thereby.

 Section
                                         5.8. Headings. The headings of the sections of this Note are inserted for
                                         convenience only and do not affect the meaning of such section.

 

Section
5.9. Counterparts. This Note may be executed in multiple counterparts, each of which shall be an original, but all
of which shall be deemed to constitute one instrument.

 

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IN
WITNESS WHEREOF, with the intent to be legally bound hereby, the Maker as executed this Note as of the date first written above.

 

	KIBUSH
    CAPITAL CORP 	 
	 	 
	/s/
    Warren Sheppard 	 
	By:	Warren
    Sheppard	 
	Title:	CEO	 
	 	 	 
	Acknowledged
    and agreed:	 
	 	 
	Blackbridge
    Capital, LLC 	 
	DocuSigned
    by: 	 
	 	 	 
	/s/
    Alexander Dillon	 
	By:
    	Alexander
    Dillon	 
	Title:
    	Partner/CIO	 

 

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	DLCR-EZ-R01-1214

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