SEC Contract Filing

Filing Date: 2015-04-10

Document Content:
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<TYPE>EX-10.4
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<FILENAME>f8k041015ex10iv_thinspace.htm
<DESCRIPTION>BLUE CITI SPA
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>SECURITIES PURCHASE AGREEMENT</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">THIS PURCHASE AGREEMENT
(&ldquo;Agreement&rdquo;) is made as of the 10<SUP>th</SUP> <SUP> </SUP>day of <B>April, 2015</B> by and between THINSPACE TECHNOLOGY,
INC., a Delaware corporation (the &ldquo;Company&rdquo;), and the Investor set forth on the signature page affixed hereto (the
&ldquo;Investor&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Recitals</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#9;A.&#9;The Company and
the Investor are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by
the provisions of Section 4(a)(2)under the Securities Act of 1933, as amended; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#9;B.&#9;The Investor
wishes to purchase from the Company, and the Company wishes to sell and issue to the Investor, upon the terms and conditions stated
in this Agreement, up to a <B>$535,000</B> principal amount of 8% convertible debenture, in the form attached hereto as Exhibit
A (the &ldquo;Debenture&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In consideration of the
mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;1.&#9;<U>Definitions</U>. In addition to
those terms defined above and elsewhere in this Agreement, for the purposes of this Agreement, the following terms shall have the
meanings set forth below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is
controlled by, or is under common control with, such Person.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo;
means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Common Stock
Equivalents</U>&rdquo; means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Company&rsquo;s
Knowledge</U>&rdquo; means the actual knowledge of the executive officers (as defined in Rule 405 under the 1933 Act) of the Company,
after due inquiry.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Confidential
Information</U>&rdquo; means trade secrets, confidential information and know-how (including but not limited to ideas, formulae,
compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications,
support documentation, drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related
information).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Control</U>&rdquo;
(including the terms &ldquo;controlling&rdquo;, &ldquo;controlled by&rdquo; or &ldquo;under common control with&rdquo;) means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of votin