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Exhibit 10.18
[XXXXXXXXX, XXXXXX & XXXXXX - LETTERHEAD]
December 2, 1999
VIA FACSIMILE: 000-000-0000
Xxxxxxxxx X. Xxxxx, Esq.
Xxxxxxx X. Xxxxx, Xx., Esq.
Xxxxx, Sheriff & Xxxxxxxxxx
1200 Le Veque Tower
00 Xxxx Xxxxx Xxxxxx
Xxxxxxxx, Xxxx 00000
RE: CAPITAL FUND LEASING, LLC/XXXX XXXXXX DIRECT, INC.
Gentlemen:
As discussed earlier this evening, Xxxx Xxxxxx Direct, Inc. (the
"Company") desires to confirm the following regarding a transaction between the
Company and Capital Fund Leasing, LLC ("CFL").
The Company's records indicate that the Company received $1,000,000 from
CFL on March 29, 1999 as the subscription price for 1,000,000 shares of the
Company's common stock registered in the name of Capital Fund Leasing, LLC. The
shares were subsequently issued by the transfer agent on or about June 1, 1999.
Enclosed for your reference and file are copies of (a) the Company's Board
resolution as delivered to the transfer agent to authorize the issuance of the
1,000,000 shares, (b) the Company's original issuance instruction letter to the
transfer agent dated May 28, 1999 regarding these shares, and (c) the transfer
agent's invoice to the Company dated June 1, 1999 reflecting the processing of
the original issuance instructions.
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[Xxxxxxxxx, Xxxxxx & Xxxxxx Letterhead]
Xxxxxxxxx X. Xxxxx, Esq.
Xxxxxxx X. Xxxxx, Xx., Esq.
December 2, 1999
Page 2
We ask that Xxxx, in his capacity as receiver for CFL, confirm the
above-described equity transaction in order to facilitate the completion of the
Company's March 31, 1999 audit by signing this letter below and returning the
same to our office via fax at 000-000-0000.
Please call Xxx Xxxxxxxxx or me if you have any questions regarding this
matter. We appreciate your attention to this.
Sincerely,
/s/ Xxxx Xxxxxx
-----------------------------------
Xxxx Xxxxxx
JB/jb
Enc.
cc: Xxxx Xxxxxxxx, Executive Vice President
The foregoing is confirmed.
/s/ Xxxxxxxxx X. Xxxxx
--------------------------------------------
Xxxxxxxxx X. Xxxxx, As Receiver
for Capital Fund Leasing, LLC
Dated: December 3, 1999
