Sanguine Corporation
000 Xxxx Xxxxx Xxxxxx, Xxxxx 00
Xxxxxxxx, Xxxxxxxxxx 00000
Attention: The Board of Directors
Re: Subscription Agreement to acquire certain shares of common stock
that are "restricted securities" of Sanguine Corporation, a Nevada
corporation (the "Company"), in consideration of the cancellation
of certain debt of the Company owed to the undersigned, and the
contribution to capital of the Company of certain other debt of the
Company to the undersigned
Dear Gentlemen:
In consideration of the issuance of 924,600 shares of common stock
of the Company that are "restricted securities" as that term is defined under
Rule 144 of the Securities and Exchange Commission, the undersigned
representative of the Estate of Xxxxxxx X. Xxxxxxxxxx hereby agrees to
compromise and settle the following debts of the Company that are owed to the
Estate of Xxxxxxx X. Xxxxxxxxxx: $36,984 reflected on the June 30, 2004,
unaudited balance sheet of the Company as "accounts payable."
The undersigned also, for the benefit of the Company and believing
that this act will enhance the future value of its other securities in the
Company, hereby compromises and settles and contributes to the capital of the
Company the following debts owed to the Estate of Xxxxxxx X. Xxxxxxxxxx by
the Company: $276,500 reflected on the June 30, 2004, unaudited balance
sheet of the Company as "Accrued salaries"; and any interest on any amounts in
this paragraph or the preceding paragraph since June 30, 2004.
XXXXXXX AND XXXXXX XXXXXXXXXX TRUST
XXXXXX XXXXXXXXXX AND
XXXXXX X. XXXXXX, CO-TRUSTEES
Date: 9/30/04 /s/ Xxxxxx Xxxxxxxxxx
Date: 9/30/04 /s/ Xxxxxx X. Xxxxxx
