SEC Contract Filing

Filing Date: 2022-11-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>3
<FILENAME>pctl1114form10qexh10_12.htm
<DESCRIPTION>EXHIBIT 10.12
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.12</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 9.5pt/120% Arial, Helvetica, Sans-Serif; margin: 4.05pt 6.55pt 0 7.6pt; text-align: justify; text-indent: -0.25pt"><FONT STYLE="letter-spacing: -0.5pt">NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE </FONT><FONT STYLE="letter-spacing: -0.4pt">SECURITIES
INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE </FONT>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 <FONT STYLE="letter-spacing: -0.5pt">REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, </FONT>OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL
BE SELECTED BY THE HOLDER), IN A <FONT STYLE="letter-spacing: -0.4pt">GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0.35pt 0 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse">
 <TR STYLE="vertical-align: middle">
 <TD STYLE="font: bold 11pt Calibri, Helvetica, Sans-Serif; width: 50%">Principal Amount: $53,000.00</TD>
 <TD STYLE="font: bold 11pt Calibri, Helvetica, Sans-Serif; width: 50%">Issue Date: June 14, 2022</TD></TR>
 <TR>
 <TD STYLE="font: bold 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">Purchase Price: $53,000.00</TD>
 <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
 </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 6.7pt; margin-bottom: 0">CONVERTIBLE PROMISSORY <FONT STYLE="letter-spacing: -0.2pt">NOTE</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0.25pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/118% Arial, Helvetica, Sans-Serif; margin: 4.7pt 5.9pt 0 8.1pt; text-align: justify; text-indent: 35.25pt"><B>FOR
VALUE RECEIVED, PCT LTD.,</B> a Nevada corporation (hereinafter called the &quot;Borrower&quot;), hereby promises to pay to the order
of <B>1800 DIAGONAL LENDING LLC,</B> a Virginia limited liability company, or registered assigns (the &quot;Holder&quot;) the sum of $53,000.00
together with any interest as set forth herein, on June 14, 2023 (the &quot;Maturity Date&quot;), and to pay interest on the unpaid principal
balance hereof at the rate of twelve percent (12%)(the &quot;Interest Rate&quot;) per annum from the date hereof (the &quot;Issue Date&quot;)
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 (&quot;Default
Interest''). 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 &quot;Common Stock&quot;) 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 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 118%">by</FONT>
written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not <FONT STYLE="letter-spacing: -0.1pt">otherwise
defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement </FONT>dated the date hereof, pursuant
to which this Note was originally issued (the &quot;Purchase Agreement&quot;).</P>

<P STYLE="font: 11.5pt Arial, Helvetica, Sans-Serif; margin: 0.4pt 0 0">&nbsp;</P>

<P STYLE="font: 9.5pt/120% Arial, Helvetica, Sans-Serif; margin: 0.05pt 6.2pt 0 9.35pt; text-align: justify; text-indent: 34.7pt">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: 11pt Arial, Helvetica, Sans-Serif; margin: 0.15pt 0 0">&nbsp;</P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 44.1pt">The following terms shall apply to this <FONT STYLE="letter-spacing: -0.1pt">Note:</FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0.35pt 0 0">&nbsp;</P>

<P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 157.9pt 0 162.8pt; text-align: center">ARTICLE <FONT STYLE="font-weight: normal">I.</FONT>
CONVERSION <FONT STYLE="letter-spacing: -0.1pt">RIGHTS</FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0.05pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/118% Arial, Helvetica, Sans-Serif; margin: 0.05pt 5.7pt 0 9.3pt; text-align: justify; text-indent: 70pt"><FONT STYLE="font-size: 9.5pt; letter-spacing: -0.05pt">1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.05pt"> </FONT><FONT STYLE="font-size: 9.5pt"><U>Conversion
Right