YA GLOBAL INVESTMENTS, LP
Exhibit 1.0
YA GLOBAL INVESTMENTS, LP
000 Xxxxxx Xxxxxx, Xxxxx 0000
Xxxxxx Xxxx, XX 00000
October 5, 2010
Xx. Xxxxxx Rozsnyay
Power of the Dream Ventures, Inc.
1095 Budapest
Soroksari ut 94-96
Hungary
Fax: x00-0-000-0000
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Re:
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Standby Equity Distribution Agreement ("SEDA") between YA Global Investments, LP ("Investor") and Power of the Dream Ventures, Inc. (the "Company") dated October 8, 2008 and Warrant to purchase 4,027,386 shares of common stock (the "Warrant") issued to the Investor on October 8, 2008.
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Dear Mr. Rozsnyay:
This letter is to confirm that we received your SEDA Termination Request letter dated September 24, 2010. Pursuant to the terms of the SEDA, the SEDA will officially be terminated 15 trading days from the date of your notice, on or about October 15, 2010.
Please note that the Warrant issued in connection with the SEDA may not be canceled unilaterally by the Company. The Warrant expires pursuant to its terms on October 8, 2013.
If you have any questions concerning the foregoing, please feel free to call me at 000-000-0000.
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Sincerely,
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/s/ Xxxxx Xxxx
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Xxxxx Xxxx
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cc:
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Xxxx & Xxxx LLP
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000 Xxxx Xxxxxx
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Xxx Xxxx, XX 00000
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Attention: Xxxxx X. Xxxxxxxxxx, Esq.
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Fax:(000)000-0000
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