SEC Contract Filing

Filing Date: 2018-04-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>f8k030718ex10-1_droneusainc.htm
<DESCRIPTION>PLACEMENT AGENT AND ADVISORY SERVICES AGREEMENT DATED MARCH 7, 2018 BETWEEN DRONE USA, INC. AND SCOTTSDALE CAPITAL ADVISORS CORPORATION
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<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PLACEMENT AGENT AND ADVISORY
<BR>
SERVICES AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Placement Agent and Advisory Services Agreement (this &ldquo;<U>Agreement</U>&rdquo;) is made as of March 7, 2018 (the &ldquo;<U>Effective
Date</U>&rdquo;), by and between Drone USA, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and Scottsdale Capital
Advisors Corporation, an Arizona corporation (&ldquo;<U>Scottsdale</U>&rdquo;). Scottsdale and the Company agree as follows:</FONT></P>

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<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>1.</U></B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Engagement
 of Scottsdale</U>:</B> The Company hereby engages Scottsdale, and Scottsdale hereby accepts
 such engagement, to act as the Company&rsquo;s placement agent with respect to the following:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.15in 0pt 0.7in; text-indent: -0.2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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 <TD STYLE="width: 0.5in">&nbsp;</TD>
 <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">securing
 an investor or investors (the &ldquo;Investor&rdquo;) to purchase bona fide outstanding and unpaid creditor claims held against
 the Company (the &ldquo;Claims&rdquo;);</FONT></TD></TR>
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 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD></TR>
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 <TD>&nbsp;</TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">representing
 the Company in negotiations with the Investor to exchange the Claims for common shares within the Company to be issued in
 a state court approved transaction meeting the criteria set forth in Section 3 (a) (10) of the Securities Act of 1933; and,</FONT></TD></TR>
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 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD></TR>
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 <TD>&nbsp;</TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
 <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">advising
 the Company as the potential shareholder impacts of any proposed transaction involving the Company, the Investor and the subject
 claim holders.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
above services shall hereafter collectively be referred to as the &ldquo;Placement Agent Services&rdquo; or the &ldquo;Placement.&rdquo;
This Agreement shall be executed on an exclusive basis.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company acknowledges and agrees that Scottsdale obligations hereunder are on a reasonable best efforts basis only and that the
execution of this Agreement does not constitute a commitment by Scottsdale to purchase the Claims or assure that Scottsdale will
find an Investor to purchase the Claims and/or complete an exchange of the Claims for common shares in the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>2.</U></B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Scottsdale&rsquo;s
 Compensation</U>:</B> The Company hereby agrees to pay Scottsdale for Placement Agent
 Services an amount equal to $15,000 in the form of a convertible note (the &ld