EXHIBIT 4.48
XXXXXXXXX WIRELESS
0000 XXXXX XXXX XXXXXXXXX, XXXXX 0000
XXXXX XXXXXX, XXXXXXXXXX 00000
May 4, 2002
The Xxxxxxx Family Trust
00000 Xxxx Xxxxxx
Xxxxxx Xxxxx, Xxxxxxxxxx 00000
Dear Xx. Xxxxxxx:
The purpose of this letter is to memorialize our agreement with respect
to an investment by The Xxxxxxx Family Trust (the "Trust") in Kankaris Wireless
(the "Company"). The Company and the Trust hereby agree that the Company shall
issue to the Trust 714,285 shares of its common stock (the "Shares") in exchange
for Thirty Thousand Dollars ($30,000) cash. In addition, the Company agrees to
register those Shares for resale by the Trust pursuant to a registration
statement on Form SB-2 (or other similar form).
Contemporaneously herewith, the Trust is executing and delivering to
the Company a certain Investment Representation Letter certifying, among other
things, that the Trust is an "accredited investor" within the meaning of
Regulation D of the Securities Act of 1933, as amended, and that the Trust is
acquiring the Shares for its own account and not with a view to the distribution
thereof.
If you are in agreement with the foregoing terms, please execute and
return a copy of this letter at your earliest convenience.
Very truly yours,
XXXXXXXXX WIRELESS
/s/ Xxxx X. Xxxxxxxxx
Xxxx X. Xxxxxxxxx, President & CEO
ACKNOWLEDGED AND AGREED:
THE XXXXXXX FAMILY TRUST
/s/ Xxxxxxx X. Xxxxxxx
Xxxxxxx X. Xxxxxxx, Trustee
