SEC Contract Filing

Filing Date: 2021-01-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>dgdm_ex101.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT
<TEXT>
<html><head><title>dgdm_ex101.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman; MARGIN-LEFT: 7%; MARGIN-RIGHT: 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 10.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SECURITIES PURCHASE AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">This SECURITIES PURCHASE AGREEMENT (this &#8220;Agreement&#8221;), dated as of December 15, 2020, is entered into by and between DIGITAL DEVELOPMENT PARTNERS, Inc., a Nevada corporation (the &#8220;Company&#8221;), and EMA Financial, LLC, a Delaware limited liability company (the &#8220;Purchaser&#8221; or &#8220;Holder&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221; or &#8220;1933 Act&#8221;), and Rule 506 promulgated thereunder by the United States Securities and Exchange Commission (the &#8220;SEC&#8221;), the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company a 10% convertible note of the Company, in the form attached hereto as Exhibit A, in the principal amount of $58,600.00 (together with any note(s) issued in replacement thereof or as interest thereon or otherwise with respect thereto in accordance with the terms thereof, the &#8220;Note&#8221;), convertible into shares (&#8220;Conversion Shares&#8221;) of common stock, no par value per share (the &#8220;Common Stock&#8221;), of the Company, upon the terms and subject to the limitations and conditions set forth in such Note. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">1.<font style="font:7pt times new roman"> </font><u>Purchase and Sale of Note.</u></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">a)<font style="font:7pt times new roman"> </font><u>Purchase of Note</u>. On the Closing Date (as defined below), the Company shall issue and sell to the Purchaser, and the Purchaser agrees to purchase from the Company, the Note for an aggregate purchase price of $54,500.00 (&#8220;Purchase Price&#8221;). </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">b)<font style="font:7pt times new roman"> </font><u>Form of Payment</u>. On the Closing Date (i) the Purchaser shall pay the Purchase Price by wire transfer of immediately available funds, in accordance with the Company&#8217;s written instructions as provided in the disbursement authorization dated December 15, 2020 and signed by the Company (the &#8220;Disbursement Authorization&#8221;), simultaneously with delivery of the Note, and (ii) the Company shall deliver such Note duly executed on behalf of the Company to the Purchaser, simultaneously with delivery of such Purchase Price.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">c)<font style="font:7pt times new roman"> </font><u>Closing Date</u>. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 8 and Section 9 below, the closing of the transactions contemplated by this Agreement (the &#8220;Closing&#8221;) shall occur on the first business day following the date hereof or such other mutually agreed upon time (the &#8220;Closing Date&#8221;) </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 90px; text-align:justify;">2.<font style="font:7pt times new roman"> </font><u>Purchaser&#8217;s Representations and Warranties.</u> The Purchaser represents and warrants to the Company that:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 135px; text-align:justify;">a)<font style="font:7pt times new roman"> </font><u>Investment Purpose</u>. Purchaser is acquiring the Note and the Conversion Shares (c