SEC Contract Filing

Filing Date: 2015-10-21

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>3
<FILENAME>exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<head><title>Exhibit 10.1</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:'Times New Roman'; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:792px> <p style="LINE-HEIGHT:10pt; MARGIN:0px">&nbsp;</p> <p style="MARGIN:0px; FONT-SIZE:9pt; BORDER-TOP:#000000 3px double; PADDING-TOP:4px" align=right><b>Exhibit 10.1</b></p><a name=_GoBack /> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=center><b>SECURITIES PURCHASE AGREEMENT</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:23px; MARGIN:0px" align=justify>This <b>SECURITIES PURCHASE AGREEMENT </b>(the &#147;<u>Agreement</u>&#148;), dated as of October __, 2015, by and between <b>HYDROPHI TECHNOLOGIES GROUP, INC.</b>, a Florida corporation, with headquarters located at 3404 Oakcliff Road Suite C6, Doraville, GA 30340 (the &#147;<u>Company</u>&#148;), and the parties set forth on the signature page hereto (each, a &#147;<u>Buyer</u>&#148;).</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b>WHEREAS:</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-TOP:0px; TEXT-INDENT:23px; WIDTH:47px; MARGIN-BOTTOM:-2px; FLOAT:left">A.</p> <p style="TEXT-INDENT:-2px; MARGIN:0px; PADDING-LEFT:47px" align=justify>The Company and the Buyers are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the &#147;<u>SEC</u>&#148;) under the Securities Act of 1933, as amended (the &#147;<u>1933 Act</u>&#148;); and</p> <p style="MARGIN:0px; CLEAR:left" align=justify><br></p> <p style="MARGIN-TOP:0px; TEXT-INDENT:23px; WIDTH:47px; MARGIN-BOTTOM:-2px; FLOAT:left">B.</p> <p style="TEXT-INDENT:-2px; MARGIN:0px; PADDING-LEFT:47px" align=justify>The Buyers desire to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement, 8% secured convertible promissory notes of the Company, substantially in the form attached hereto as <u>Exhibit A</u> (the &#147;<u>Note</u>&#148;), in the aggregate principal amount of $72,222.22, convertible into shares of common stock of the Company (the &#147;<u>Common Stock</u>&#148;) upon the terms and subject to the limitations and conditions set forth in this Agreement and the Note.</p> <p style="MARGIN:0px; CLEAR:left" align=justify><br></p> <p style="MARGIN:0px; PADDING-LEFT:23px" align=justify><b>NOW THEREFORE</b>, the Company and the Buyers severally (and not jointly) hereby agree as follows:</p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:23px; MARGIN:0px" align=justify>1. <u>Purchase and Sale of Notes</u>.</p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:40px; MARGIN:0px" align=justify>a. <u>Purchase of Notes</u>. On the Closing Date (as defined below), the Company agrees to sell, and the Buyers agrees to purchase from the Company, Notes in the aggregate principal amount of $72,222.22 for a purchase price (the &#147;<u>Purchase Price</u>&#148;) of $65,000.00. &nbsp;The Company and the Buyers agree that the Company may sell in the future, and the Buyers may purchase from the Company in their sole and absolute discretion, Notes in the aggregate principal amount of up to $155,555.56 for a purchase price of up to $140,000.00, in such amounts and on such dates as the Company and the Buyers may agree. &nbsp;For the avoidance of doubt, the Company and the Buyers agree that the Buyers shall have no obligation to purchase additional Notes from the Company.</p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:40px; MARGIN:0px" align=justify>b. <u>Form of Payment; Closing</u>. On the Closing Date (as defined below), (i) the Buyer shall pay the Purchase Price for the Note to be issued and sold to it at the Closing (as defined below) by wire transfer in immediately available funds to the Company, in accordance with the Company&#146;s written wiring instructions, against delivery of the Note in the principal amount as set forth in this Agreement and (ii) the Company shall deliver a duly executed Note to the Buyer against delivery of such Purchase Price. &nbsp;Subject to the satisfaction or written waiver of the conditions set forth in Sections 6 and Section 7 below, the Closing shall occur at the offices of _________________., legal counsel to the Buyer, or such other location as the parties shall mutually agree, provided that it is understood that the parties may attend such Closing telephonically. &nbsp;&#147;<u>Closing</u>&#148; means the closing of the purchase and sale of the Note pursuant to this Agreement. &nbsp;&#147;<u>Closing Date</u>&#148; means the business day on which all Transaction Documents (as defined below) have been executed and delivered by the applicable parties thereto in connection with the Closing, and all conditions precedent to (x) the Buyer&#146;s obligations to pay the Purchase Price as to such Closing and (y) the Company&#146;s obligations to deliver the Note as to such Closing, in each case, have been satisfied or waived.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; PADDING-LEFT:23px" align=justify>2. <u>Buyer&#146;s Representations and Warranties</u>. The Buyer represents and warrants to the Company that:</p> <p style=MARGIN:0px align=justify><br></p> <p style="TEXT-INDENT:40px; MARGIN:0px" align=justify>a. <u>Investment Purpose</u>. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock, subject to the rights of the Prior Note Agreements (as defined below), issuable upon conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable (i) on account of interest on the Note, (ii) as a resu