Exhibit 10.10
[United American Corporation LOGO] [teliPhone(TM) LOGO]
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CASH ADVANCE AGREEMENT BETWEEN RELATED COMPANIES 3894517 CANADA INC. AND
TELIPHONE INC. MADE AND ENTERED INTO IN XXX XXXX XX XXXXXXXX, XXXXXXXX XX
XXXXXX, XXXXXX WITH AN EFFECTIVE DATE OF AUGUST 27, 2004.
BY AND BETWEEN: TELIPHONE INC., a body politic and corporate,
duly incorporated according to law, having a
place of business at 0000 Xxxxxx Xxxx, xxxxx
0000, Xxxxxxxx, Xxxxxx, X0X 0X0 herein
represented by Xxxxxx Xxxxxxxx, President, duly
authorized as he so declares,
hereinafter referred to as "TELIPHONE"
AND: 3894517 CANADA INC. a body politic and
corporate, duly incorporated according to law,
having a place of business at 0000 Xxxxxx Xxxx,
xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0 herein
represented by Xxxxx Xxxxxxxx, President, duly
authorized as he so declares,
hereinafter referred to as "3894517"
AND: OSK CAPITAL II CORP. a body politic and
corporate, duly incorporated according to law,
having a place of business at 0000 Xxxxxx Xxxx,
xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0 herein
represented by Xxxxxx Xxxxxxxx, President and
CEO, duly authorized as he so declares,
hereinafter referred to as "OSK"
AND: UNITED AMERICAN CORP. a body politic and
corporate, duly incorporated according to law,
having a place of business at 0000 Xxxxxx Xxxx,
xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0 herein
represented by Xxxxx Xxxxxxxx, President and
CEO, duly authorized as he so declares,
hereinafter referred to as "UAC"
WHEREFORE THE PARTIES HERETO HAVE AGREED AS FOLLOWS:
1. During the course of start-up and growth stages of TELIPHONE,
3894517 will advance funcqds on an as needed basis in order for
TELIPHONE to fund its operations.
2. These funds will be advanced on the basis of 0% interest without
term.
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Teliphone Inc.
0000 Xxxxxx Xxxx, xxxxx 0000
Xxxxxxxx, Xxxxxx, Xxxxxx X0X 0X0
(000) 000-0000, 877 TELIPHONE
xxx.xxxxxxxxx.xx xxxx@xxxxxxxxx.xx
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[United American Corporation LOGO] [teliPhone(TM) LOGO]
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3. These funds will be re-paid in the form of Restricted Shares of the
Capital Stock of TELIPHONE's parent company, OSK with the following
conditions:
a. OSK is listed and trading on a North American stock exchange
b. The price of conversion of the capital stock will be at the
equivalent of the last 22 day average trading price based on
the date of issuance of the OSK common stock certificate
c. The OSK common stock will be issued to UAC
d. The decision as to the date of issuance of the common stock
will be made by the Board of Directors of OSK
WHEREFORE THE PARTIES HERETO HAVE SIGNED WITH DATE EFFECTIVE ON THE DATE AND
PLACE FIRST MENTIONED HEREINABOVE.
TELIPHONE INC OSK CAPITAL II CORP.
per: per:
/s/ Xxxxxx Xxxxxxxx /s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxxx, President Xxxxxx Xxxxxxxx, President & CEO
November 28, 2006 November 28, 2006
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Date Date
3894517 CANADA INC. UNITED AMERICAN CORP.
per: per:
/s/ Xxxxx Xxxxxxxx /s/ Xxxxx Xxxxxxxx
------------------------------------- ----------------------------------------
Xxxxx Xxxxxxxx, President Xxxxx Xxxxxxxx, President & CEO
November 28, 2006 November 28, 2006
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Date Date
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Teliphone Inc.
0000 Xxxxxx Xxxx, xxxxx 0000
Xxxxxxxx, Xxxxxx, Xxxxxx X0X 0X0
(000) 000-0000, 877 TELIPHONE
xxx.xxxxxxxxx.xx xxxx@xxxxxxxxx.xx
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