EXHIBIT 4.7
Xxxxxxx Xxx, Inc.
000 Xxxx Xxx Xxxxx - Xxxxx X
Xxxxxx Xxxxx, XX 00000
Phone: (000) 000-0000
Fax: (000) 000-0000
December 31, 2004 XXXX DELIVERED
--------------
Xx. Xxxx Xxxxxxx
President/CEO
Quest Manufacturing, Inc.
0000 Xxxxxx Xxxxx Xxxxx
Xxxx X
P.O. Box 430
Spring Grove, IL 60081
RE: Repayment of proceeds pursuant to Asset Purchase Agreement
Dear Xx. Xxxxxxx:
Pursuant to Paragraph 5(b)(2) of the Asset Purchase Agreement between Quest
Manufacturing, Inc. and Silicon Film Technologies, Incorporated, dated February
1, 2003, the outstanding balance of $305,000 is to be payable to Quest
Manufacturing, Inc no later than December 31, 2004. This unpaid balance has
accrued interest at 6% per annum. This will confirm that you have agreed, on
behalf of Quest Manufacturing, Inc. to extend the payment date to March 31,
2005. The outstanding balance will continue to accrue interest at the rate of
six percent (6%) per annum. Please confirm this agreement by signing and dating
this letter below.
Very truly yours,
/s/ Xxxxxxxxx X. XxXxxx
Xxxxxxxxx XxXxxx
President
Xxxxxxx Xxx, Inc.
I, Xxxx Xxxxxxx, President and CEO of Quest Manufacturing, Inc., hereby confirm
that I have extended the payment due date of outstanding funds of $305,000 plus
interest as indicated above to March 31, 2005
12/31/04 /s/ Xxxx Xxxxxxx
---------------- -----------------------------
Date Xxxx Xxxxxxx
President/CEO
Quest Manufacturing
SD/cap
Quest Manufacturing, Inc.
0000 Xxxxxx Xxxxx Xxxxx
Xxxx X
P.O. Box 430
Spring Grove, IL 60081
March 23, 2005 XXXX DELIVERED
--------------
Xx. Xxxxxxxxx XxXxxx
President Xxxxxxx Xxx, Inc.
000 Xxxx Xxx Xxxxx-Xxxxx X
Xxxxxx Xxxxx, XX 00000
RE: Repayment of proceeds pursuant to Asset Purchase Agreement
Dear Xx. XxXxxx:
This will confirm that I have agreed, on behalf of Quest Manufacturing, Inc.
(Quest), to extend the payment date of the outstanding balance of $305,000 owed
Quest pursuant to paragraph 5(b)(2) of the Asset Purchase Agreement dated
February 1, 2003 from March 31, 2005 to July 31, 2005. This unpaid balance has
accrued interest at 6% per annum. You have agreed that the outstanding balance
will continue to accrue interest at the rate of six percent (6%) per annum.
Very truly yours,
/S/ Xxxx X. Xxxxxxx
Xxxx Xxxxxxx
President/CEO
Quest Manufacturing, Inc.
