Exhibit 10.20
May 1, 2002
Xx. Xxxxxxxx X. Marine
000 00xx Xxxxxx
Xxxxxxxxx Xxxxx, XX 00000
Mr. Marine:
This letter will serve to confirm the agreement between Remedent USA, Inc.
(the "Company") and yourself (the "lender").
(1) Lender hereby agrees to the receipt of 1,300,000 shares of the Company's
common stock in full repayment of the $77,778 working capital outstanding
as of the date of this agreement.
(2) The Company hereby agrees to file for registration on an SB-2 Registration
Statement, the shares of common stock outlined in (1) above, in addition to
the 650,000 share of common stock representing the interest on this working
capital loan as described in the agreement between these two parties dated
December 21, 2001.
The above-mentioned terms are agreed upon on this day, by the following:
/s/ Xxxxxxx X. Xxxx /s/ Xxxxxxxx X. Marine
------------------------------------ ---------------------------
Xxxxxxx X. Xxxx Xxxxxxxx X. Marine
Chief Financial Officer Lender
Remedent USA, Inc.
