Exhibit 10.2
AGREEMENT
AGREEMENT dated this __ day of November 2004, by and between ABC
Funding, Inc. (hereinafter "ABC"), a Nevada Corporation, with offices located at
0000 Xxxxx 000 Xxxx, Xxxxx, Xxxx 00000, Xxxxxx Xxxxxx, President of ABC and Xxxx
X. Xxxxx, P.C., counsel to ABC, with offices located at 000 Xxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx.
WHEREAS, ABC is about to file a Registration Statement with the United
States Securities and Exchange Commission (hereinafter the "SEC") on Form SB-2
which Registration Statement indicates in Part II, Item 25, offering expenses
totaling sixty eight thousand six hundred one dollars ($68,601) of which fifty
thousand ($50,000) dollars are indicated as legal fees and expenses; and
WHEREAS, ABC has agreed to pay all such costs as and when necessary and
required, or to otherwise accrue such costs on its books and records until it is
able to pay the full amount due, either from revenues or loans from its
President.
NOW, THEREFORE, it is herewith agreed as follows: Absent sufficient
revenues to pay these amounts within three (3) months of the date of the ABC
prospectus, ABC's President agrees to loan ABC the funds to cover the balance of
outstanding professional and related fees relating to ABC's prospectus. If and
when loaned, the loan will be evidenced by a non-interest bearing unsecured
corporate note to be treated as a loan until repaid, if and when ABC has the
financial resources to do so.
The parties hereto understand that the above constitutes a binding
Agreement and that the contents thereof are referred to in the aforesaid
Registration Statement, in the subheading entitled "Liquidity" as found in the
Management's Discussion and Analysis or Plan of Operation section.
The above constitutes the entire Agreement between the parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the __ day of November 2004.
ABC FUNDING, INC.
By: /s/
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Xxxxxx Xxxxxx, President
By: /s/
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Xxxxxx Xxxxxx, Individually
XXXX X. XXXXX, P.C.
By: /s/
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Xxxx X. Xxxxx, President
