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EXHIBIT 10.(xvi)
NEVADA MANHATTAN MINING, INC.
Mining - Development - Exploration
May 13,1996
▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, et al
▇▇ ▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Re: Amendment to Agreement Letter Dated March 25, 1996
Dear ▇▇▇▇▇:
As per our conversation of May 8, 1996 summarizing our mutual
agreement to amend the Agreement Letter dated March 25, 1996, relevant to your
investment group's Preferred Stock purchase and your subsequent purchase, I
reiterate and state for the record the following:
You and the members of your investment group have agreed to the
issuance of Nevada Manhattan Mining Common Stock in exchange for the issuance
of the previously agreed upon Preferred Stock in the Company. The Preferred
Stock would have been convertible ten (10) shares of Common Stock for each
share of Preferred Stock and carrying an 8% dividend rate. We will presently
issue the Common Stock (at the convertible rate) and will issue the agreed upon
dividends of 8% at the time dividends are issued to the Preferred stockholders
to compensate your group for any loss of dividends. Your dividends will be
based on your original number of Preferred shares. We anticipate Preferred
dividends to be issued December of 1996.
Your signature below will evidence your confirmation of the attached
breakdown of the conversion from Preferred Stock to Common Stock based on the
relevant funds which we have received to date.
Please call if you have questions or comments.
Sincerely, Approved and acknowledged,
/s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
President
▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ - ▇▇▇▇▇▇▇▇▇, ▇▇. 91302
1818) ▇▇▇-▇▇▇▇ - FAX (▇▇▇) ▇▇▇-▇▇▇▇
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LOS ANGELES, CALIFORNIA - MANHATTAN, NEVADA
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▇▇▇▇▇▇▇▇▇ INVESTMENT GROUP / NMM PREFERRED STOCK TO COMMON STOCK
NAME PREFERRED COMMON INVESTED INVEST $ DIVIDEND
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 6,000 60,000 $20,000.00
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ 1,500 15,000 $5,000.00
▇▇▇ ▇▇▇▇▇▇ 3,000 30,000 $10,000.00
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 7,500 75,000 $25,000.00
▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ 5,000 50,000 $15,000.00
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 59,500 595,000 $149,921.10
▇▇▇▇▇ ▇▇▇▇▇▇ 500 5,000
▇▇▇▇▇▇▇ ▇▇▇▇▇▇ 500 5,000 $1,259.86
▇▇▇ ▇▇▇▇▇▇ 500 5,000 $1,259.86
▇▇▇▇▇ ▇▇▇▇▇▇ 500 5,000 $1,259.86
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 1,000 10,000 $2,519.73
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 1,000 10,000 $2,519.73
Total $235,000.00 $235,000.00
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 9,000 90,000 $22,500.00
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 1,000 10,000 $2,500.00
Total $25,000.00 $25,000.00
▇▇▇▇▇▇ ▇▇▇▇▇ 600 6,000 1,500.00
▇▇▇▇▇ ▇▇▇▇▇▇ 1,000 10,000 $2,500.00
▇▇▇▇ ▇▇▇▇▇▇ 2,000 20,000 $5,000.00
Total $9,000.00 $9,000.00
TOTAL 100,100 1,001,000 $269,000.00
