SEC Contract Filing

Filing Date: 2022-06-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>gzic_ex101.htm
<DESCRIPTION>CONVERTIBLE PROMISSORY NOTE
<TEXT>
<html><head><title>gzic_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"><strong>&nbsp; </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED 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. </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; <table style="border-spacing:0;font-size:10pt;text-align:left;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:45%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Principal Amount: $160,000.00</strong></p></td> <td style="width:5%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>&nbsp;</strong></p></td> <td> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>Issue Date: May 20, 2022</strong></p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Purchase Price: $160,000.00</strong></p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr></table></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><u>CONVERTIBLE PROMISSORY NOTE</u></strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>FOR VALUE RECEIVED</strong>, <strong>GZ6G Technologies Corp.</strong>, a Nevada corporation (hereinafter called the &#8220;Borrower&#8221;), hereby promises to pay to the order of <strong>1800 DIAGONAL LENDING LLC</strong>, a Virginia limited liability company, or registered assigns (the &#8220;Holder&#8221;) the sum of $160,000.00 together with any interest as set forth herein, on May 20, 2023 (the &#8220;Maturity Date&#8221;), and to pay interest on the unpaid principal balance hereof at the rate of ten percent (10%)(the &#8220;Interest Rate&#8221;) per annum from the date hereof (the &#8220;Issue Date&#8221;) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid (&#8220;Default Interest&#8221;). Interest shall commence accruing on the date that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share (the &#8220;Common Stock&#8221;) in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the &#8220;Purchase Agreement&#8221;).</p> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">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 Borrower and will not impose personal liability upon the holder thereof. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">1</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">The following terms shall apply to this Note:</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>ARTICLE I. CONVERSION </strong><strong>RIGHTS</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:90px">1.1 <u>Conversion Right</u>. The Holder shall have the ri