EXHIBIT 10.30
U.S. WIRELESS DATA, Inc.
NOTE PAYABLE
This agreement is entered into on this day of October 28, 1998 between U.S.
Wireless Data, Inc. ("USWD"), and Xxxxx Xxxxxxxxx.
WHEREAS, Xxxxx Xxxxxxxxx will provide bridge financing of $500,000 to USWD on
October 28, 1998.
THEREFORE, USWD agrees to:
1) Reimburse Xxxxx Xxxxxxxxx upon the closing of the Common Stock
Purchase Agreement between Xxxxx Xxxxxxxxx and USWD. In any case,
the note is due in full no later than January 1, 1999.
2) Upon repayment of the note, USWD will pay interest on this note
at eight percent (8%) per annum.
3) There are no fees, or conversion rights associated with this
note.
4) In further consideration of this transaction, USWD will issue a
Common Stock Purchase Warrant for twenty-five-thousand (25,000)
shares of the Company's Common Stock at a price equal 90% of the
closing price on the trading day preceding this agreement. The
warrant will have a term of three years.
5) The investor (Xxxxx Xxxxxxxxx) understands that this Note, the
Warrant, and Common Stock issuable upon exercise of the Warrant
are characterized as "restricted securities" under federal and
state securities laws as defined in SEC Rule 144 promulgated
under the Securities Act of 1933, as presently in effect, (the
Act). The investor is familiar with SEC Rule 144, as presently in
effect, and understands and agrees to comply with the resale
limitation imposed under the Act and applicable securities law.
This Note is executed and agreed upon on October 28, 1998.
U.S. Wireless Data, Inc.
/s/ Xxxxxx X. Xxxxxxxxx /s/ Xxxxx Xxxxxxxxx
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By Xxxxxx X. Xxxxxxxxx By Xxxxx Xxxxxxxxx
Chief Financial Officer
