This note has not been registered under the securities act of 1933, as amended, and is transferable only upon the conditions specified in the note agreement referred to herein. promissory note due april 30, 2004
THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND IS TRANSFERABLE ONLY UPON THE CONDITIONS SPECIFIED IN THE NOTE AGREEMENT REFERRED TO HEREIN. Promissory Note Due April 30, 2004
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THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND IS TRANSFERABLE ONLY UPON THE CONDITIONS SPECIFIED IN THE
NOTE AGREEMENT REFERRED TO HEREIN.
Promissory Note Due April 30, 2004
GK INTELLIGENT SYSTEMS, INC, a Delaware public corporation, (herein
called the "Maker") for value received, hereby promises to pay to JOEL PICKELL
or his registered assigns ("Holder"), the principal sum of ten thousand
dollars ($13,000.00) and annualized interest of 0 %. Payment of the principal
and interest of this Note will be made by check on April 30, 2004 (unless
extended) at the offices of the Maker maintained in Houston, Texas, or mailed
to the address of the person entitled thereto as such address shall be
provided to the Maker, in such coin or currency of the United States of
This Note shall be collateralized by three hundred ninety three thousand
nine hundred thirty nine (393,939) shares of common stock in GK Intelligent
Systems, Inc. currently registered in the name of "GK Intelligent Systems".
Holder may, at its option, accept payment of all or part of the principal
portion of this Note in the form of the heretofore described common stock on a
pro rata basis using a price per share of $.033 cents. Holder may make this
election on or before the due date of April 30, 2004.
No provision of this Note shall alter or impair the obligation of the
Maker, which is absolute and unconditional, to pay the principal of this Note
at the times, places and rate, and in the coin or currency, herein prescribed.
The Note may be transferred upon surrender of this Note or registration
of transfer at the offices or agencies of the Maker in Houston, Texas duly
endorsed by, or accompanied by a written instrument of transfer in
substantially the form accompanying this Note duly executed by, the holder
hereof or his attorney duly authorized in writing, and thereupon one or more
new Notes, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.
Prior to due presentment of this Note for registration of transfer, the
Maker, and any agent of the Maker may treat the person in whose name this Note
is registered as the owner hereof for all purposes, whether or not this Note
be overdue, and neither the Maker nor any such agent shall be affected by
notice to the contrary.
This Note represents the final agreement between the parties and may not
be contradicted by evidence of prior, contemporaneous, or subsequent oral
agreements of the parties. There are no unwritten oral agreements between the
IN WITNESS WHEREOF, GARY KIMMONS, CEO of GK Intelligent Systems, Inc.
has caused this instrument to be executed.
Dated: March 31, 2004.
/s/ Gary F. Kimmons
GARY KIMMONS, CEO, GK INTELLIGENT SYSTEMS