SEC Contract Filing

Filing Date: 2019-09-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>imle_ex104.htm
<DESCRIPTION>DEBT CONVERSION AND COMMON STOCK PURCHASE AGREEMENT
<TEXT>
<html><head><title>imle_ex104.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.4</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>DEBT CONVERSION AND COMMON STOCK </b></p><p style="MARGIN: 0px" align="center"><b>PURCHASE AGREEMENT</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">This Debt Conversion Common Stock Purchase Agreement (this &#8220;Agreement&#8221;) is made and entered into effective as of the 23rd day of August, 2019 (the &#8220;Effective Date&#8221;) by and between TransBiotec, Inc., a Delaware corporation (the &#8220;Company&#8221;), and Michael A. Lanphere, an individual (the &#8220;Purchaser&#8221;). The Company and Purchaser shall each be referred to as a &#8220;Party&#8221; and collectively as the &#8220;Parties.&#8221;</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>RECITALS</b></p><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, beginning on December 12, 2012, the Purchaser began loaning the Company money for a variety of purposes pursuant to the terms of Loan Agreement with Promissory Note and Stock Fees (the &#8220;Notes&#8221;), which entitled the Purchaser to both the repayment of the principal amount loaned to the Company, with interest, and what was termed in the Notes as a &#8220;Stock Fee&#8221;;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the Stock Fee allows the Purchaser to acquire a certain number of shares of the Company&#8217;s common stock, with the number of shares and the purchase price determined by the loan amount for each Note and the Company&#8217;s stock price on the date of the Note;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the Purchaser has previously exercised his right to acquire shares of the Company&#8217;s common stock under the Stock Fee provisions of some of the Notes, but still has the right to acquire an additional Twenty One Million Four Hundred Thousand Seven Hundred Forty Five (21,400,745) shares of the Company&#8217;s common stock (the &#8220;Shares&#8221;) for Ninety Six Thousand Three Hundred Three Dollars and Thirty Five Cents ($96,303.35) (the &#8220;Purchase Price&#8221;);</p><p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the Purchaser desires to acquire the Shares in exchange for the Purchase Price, with the Purchase Price to be paid through a reduction in the amounts the Company owes to the Purchaser under certain of the Notes, pursuant to the terms of this Agreement.</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">NOW, THEREFORE, the Parties hereby agree as follows:</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="center"><b>AGREEMENT</b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">1. <u>PURCHASE OF SECURITIES</u>: </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">On the Closing Date (as hereinafter defined), subject to the terms and conditions set forth in this Agreement, the Purchaser hereby agrees to purchase, and the Company hereby agrees to sell, Twenty One Million Four Hundred Thousand Seven Hundred Forty Five (21,400,745) shares of the Company&#8217;s common stock (the &#8220;Shares&#8221;) in exchange for Ninety Six Thousand Three Hundred Three Dollars and Thirty Five Cents ($96,303.35) (the &#8220;Purchase Price&#8221;), with the Purchase Price being paid through a reduction in the amounts the Company owes to the Purchaser under certain of the Notes. A list of the Stock Fees being exercised for the Shares and the Notes that are being extinguished to pay the Purchase Price are outlined on <u>Exhibit A</u> hereto. </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify"><table id="pagebreak08ab0b0b-f947-4a7e-8076-1716ef142e89" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"><tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">Page 1 of 7</td></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">2. <u>CLOSING AND DELIVERY</u>: </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">a) Upon the terms and subject to the conditions set forth herein, the consummation of the purchase and sale of the Shares (the &#8220;Closing&#8221;) shall be held simultaneous with the execution of this Agreement, or at such other time mutually agreed upon between the constituent Parties (the &#8220;Closing Date&#8221;). The Closing shall take place at the offices of counsel for the Company set forth in Section 6 hereof, or by the exchange of documents and instruments by mail, courier, facsimile and wire transfer to the extent mutually acceptable to the Parties hereto.</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">b) At the Closing:</p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px 0px 0px 90px; TEXT-INDENT: 45px" align