SEC Contract Filing

Filing Date: 2025-05-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>nftn_ex103.htm
<DESCRIPTION>CONVERTIBLE PROMISSORY NOTE
<TEXT>
<html><head><title>nftn_ex103.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 10.3</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <p style="margin:0px"> <table style="border-spacing:0;font-size:10pt;border-bottom:#17365d 1px solid;text-align:left;width:100%" cellpadding="3"> <tr style="height:15px"> <td style="padding:3px;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong><font style="color:#17365d;font-size:14pt">CONVERTIBLE PROMISSORY NOTE</font></strong></p></td></tr></table></p> <p style="margin:0px"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp; </p> <p style="margin:0px"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:20%;vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Effective Date:</strong></p></td> <td style="vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>May 20, 2025 </strong></p></td></tr> <tr style="height:15px"> <td style="vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Principal Amount:</strong></p></td> <td style="vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>US $1,000,000.00</strong></p></td></tr></table></p> <p style="margin:0px"></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:justify;">FOR VALUE RECEIVED, NFiniTi Inc., a Nevada corporation (the "Company"), promises to pay to the order of RH2 Equity Partners, a Delaware limited partnership, or its registered assigns (the "Holder"), the principal sum of One Million Dollars ($1,000,000.00), together with interest thereon and other amounts payable hereunder, subject to an Original Issue Discount of fifty percent (50%), resulting in a funding amount of Five Hundred Thousand Dollars ($500,000.00), in accordance with the terms set forth herein. This Convertible Promissory Note (this "Note") is issued and made effective as of May 20, 2025 (the "Effective Date").</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="margin:0px"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><font style="color:#102a43">1. </font></strong></p></td> <td colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><font style="color:#102a43">Definitions</font></strong></p></td></tr> <tr style="height:15px"> <td style="width:4%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:4%;"> <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> <tr style="height:15px"> <td> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><font style="color:#102a43">1.1.</font></strong></p></td> <td style="vertical-align:top;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><font style="color:#102a43">Defined Terms.</font> </strong>As used in this Note, the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the singular and plural forms of the terms defined):</p></td></tr></table></p> <p style="margin:0px"></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 0px 0px 45px; text-align:justify;"><strong>"Bankruptcy Event" </strong>means any of the following events: (a) the Company commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company; (b) there is commenced against the Company any such case or proceeding that is not dismissed within sixty (60) days after commencement; (c) the Company is adjudicated insolvent or bankrupt or any order of relief or other order approving any such case or proceeding is entered; (d) the Company suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or stayed within sixty (60) days after such appointment; (e) the Company makes a general assignment for the benefit of creditors; or (f) the Company calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"><strong>"Business Day" </strong>means any day except any Saturday, any Sunday, any day which is a federal lega