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EXHIBIT 10.92
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August 21, 2000
Xxxxx X. Xxxxxx
0000 Xxxxxxxx Xxxx Xxxx
Xxxxx Xxxxx, Xxxxxxxxx 00000
Re: Conversion of Indebtedness to Common Stock
Dear Xxxxx:
This letter will serve to memorialize the agreement between you and USURF
America, Inc., whereby you have agreed to convert all current indebtedness
to you into shares of USURF common stock. Currently, USURF owes you a
total of $967,703 ($916,045 principal, $51,658 interest).
We have agreed to convert the entire amount owed to you into shares of
common stock at the rate of one share for every $1.25 of debt converted,
for a total of 774,162 shares. We further agreed to the $1.25 price as
that price was the low sale price for USURF common stock on Friday, August
18, 2000, as reported by The American Stock Exchange.
If the foregoing accurately reflects our agreement, please sign in the
space provided below.
Thank you.
Sincerely,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Vice President
AGREED AND ACCEPTED:
/s/ Xxxxx X. Xxxxxx
Xxxxx X. Xxxxxx
