Exhibit 10.10
ADDENDUM DATED FEBRUARY 28, 2007
TO THE
PROMISSORY NOTE AND
SECURITY AGREEMENT
DATED FEBRUARY 28, 2007
BETWEEN SIBLING ENTERTAINMENT GROUP, INC.
AND
MOTIVATED MINDS LLC
The PROMISSORY NOTE AND SECURITY AGREEMENT dated February 28, 2007 (the
"Loan Agreement") between Sibling Entertainment Group Inc. (the "Company") and
MOTIVATED MINDS LLC, 0000 Xxxx Xxxxxx Xxx., Xxxxx 000, Xxxxxxx, XX 00000 (the
"Holder") is hereby amended as follows:
1. The Company is a 1933 Act Company and not a 1934 Act Company. Therefore,
Paragraph 26, Part II - Representations of Sibling Entertainment Group,
Inc., subparagraph (b) is deleted in its entirety and the following is
substituted in lieu thereof:
"(b) SEGI is a reporting company pursuant to Section (g) of the Securities
Act of 1933;"
2. The Company is still in process of filing its 10-QSB for the period ending
December 31, 2006. Therefore, Paragraph 26, Part II - Representations of
Sibling Entertainment Group, Inc., subparagraph (c) is deleted in its
entirety and the following is substituted in lieu thereof:
"(c) SEGI has timely filed and is current on all reports required to be
filed by it pursuant to Section 13 of the Securities Act of 1933, except
Form 10-QSB for the period ending December 31, 2006;"
3. All capitalized terms used herein and not otherwise defined shall have the
meaning ascribed thereto in the Loan Agreement.
4. Except as specifically amended hereby, the terms and conditions of the
Loan Agreement remain in full force and effect.
IN WITNESS WHEREOF, each of the Company and the Holder has caused this
Addendum to the Loan Agreement to be executed and delivered as of this 28th day
of February, 2007.
ACCEPTED AND AGREED TO BY:
Sibling Entertainment Group, Inc. MOTIVATED MINDS LLC
By: /s/ Xxxxxxxx Xxxxxxx By: /s/ Xxx Xxxxxx
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Xxxxxxxx Xxxxxxx, President Xxx Xxxxxx, Managing Member
