Exhibit 10.1 - $2,000,000 Bridge Loan Agreement,
dated April 13, 1999, between the Company and Xxxx
Xxxx Finance Company Limited
Xxxx Xxxx Finance Company Limited
10th Floor, Lippo Protective Tower
000-000 Xxxxxxxxxx Xxxx, Xxxxxxx, H.K.
April 13, 1999
Xxxxxxx X. Xxxxx, M.D.
Global Med Technologies, Inc.
00000 Xxxx Xxxxxx
Xxxxx X-000
Xxxxxxxx, XX 00000
Re: Bridge Loan $2,000,000 Convertible into Common Stock of Global Med
Technologies, Inc.
Dear Mick:
This letter confirms our understanding that Xxxx Xxxx Finance Company
Limited, a Hong Kong corporation ("Xxxx Xxxx"), will provide a line of credit of
up to Two Million Dollars ($2,000,000) to Global Med Technologies, Inc.
("Global") with interest at the rate of 12% per annum payable monthly. Principal
on all loans made pursuant to the line of credit shall be due and payable on
April 12, 2000. However, loans made pursuant to the line of credit shall be
repaid to Xxxx Xxxx immediately from proceeds of any offering of Global's
securities prior to April 12, 2000 and thereafter, this credit facility will
lapse.
Each loan drawn on the line of credit will be no more than $250,000 and
will be represented by a promissory note made by Global for the benefit of Xxxx
Xxxx. The promissory note(s) will be convertible, at Xxxx Xxxx'x option, into
shares of common stock of Global at a price based on the average closing bid
price of Global's common stock for a period of 15 business days prior to April
13, 1999.
On or before April 13, 1999, as consideration for the line of credit,
Global agrees to pay Xxxx Xxxx, a fee equal to 5% of the total line of credit in
shares of Global common stock at a price based on the average bid price of
Global's Common Stock for the 15 days prior to April 13, 1999.
Very truly yours,
For and on behalf of
XXXX XXXX FINANCE COMPANY LIMITED
By: /s/ Xxx X. Xxxx
--------------------------------
Xxx X. Xxxx
Chairman
ACCEPTED:
GLOBAL MED TECHNOLOGIES, INC.
By: /s/ Xxxxxxx X. Xxxxx
----------------------------------
Xxxxxxx X. Xxxxx, M.D.
Chairman and CEO
