EXHIBIT 10.16 - LETTER AGREEMENT DATED SEPTEMBER 26, 2001 BETWEEN THE
REGISTRANT AND LAURUS MASTER FUND, LTD
CONNECTING THE FUTURE WITH THE PRESENT
Via facsimile (000) 000-0000 & e-mail
September 26, 2001
Mr. David Grin
Mr. Xxx Xxxxx
Laurus Master Fund, Ltd.
000 Xxxx 00xx Xxxxxx
Xxxxx 0000
Xxx Xxxx, X.X. 00000
Re: Extension Request of Maturity Date of Note
Until November 1, 2001
Dear Xxxxx & Xxx:
We are making final preparations for filing of an amended SB-2/A pursuant
to the SEC's comments of August 24, 2001. In light of the delays in
business operations caused by the tragic events of September 11, 2001 and
in order to allow sufficient time for the SB-2/A to become effective, we
would like your agreement to extend the maturity and interest due dates of
the current convertible note in the principal amount of $300,000 plus
interest with Laurus Master Fund, Ltd. to November 1, 2001.
If you are agreeable to this extension please fax an executed copy of this
letter agreement to us at (000) 000-0000. Otherwise please contact me to
discuss this issue further.
Sincerely,
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
CEO
Read and Agreed to by:
__/s/__(Unintelligible)________________ Date:9-26-01
Laurus Master Fund, Ltd.
