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EXHIBIT 10.(xvi)
NEVADA MANHATTAN MINING, INC.
Mining - Development - Exploration
May 13,1996
Xx. Xxxxx Xxxxxxxxx, et al
00 Xxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Re: Amendment to Agreement Letter Dated March 25, 1996
Dear Xxxxx:
As per our conversation of May 8, 1996 summarizing our mutual
agreement to amend the Agreement Letter dated March 25, 1996, relevant to your
investment group's Preferred Stock purchase and your subsequent purchase, I
reiterate and state for the record the following:
You and the members of your investment group have agreed to the
issuance of Nevada Manhattan Mining Common Stock in exchange for the issuance
of the previously agreed upon Preferred Stock in the Company. The Preferred
Stock would have been convertible ten (10) shares of Common Stock for each
share of Preferred Stock and carrying an 8% dividend rate. We will presently
issue the Common Stock (at the convertible rate) and will issue the agreed upon
dividends of 8% at the time dividends are issued to the Preferred stockholders
to compensate your group for any loss of dividends. Your dividends will be
based on your original number of Preferred shares. We anticipate Preferred
dividends to be issued December of 1996.
Your signature below will evidence your confirmation of the attached
breakdown of the conversion from Preferred Stock to Common Stock based on the
relevant funds which we have received to date.
Please call if you have questions or comments.
Sincerely, Approved and acknowledged,
/s/ XXXXXXXXXXX X. XXXXXXXX /s/ XXXXX XXXXXXXXX
---------------------------------- ------------------------------
Xxxxxxxxxxx X. Xxxxxxxx Xxxxx Xxxxxxxxx
President
0000 X. XXXXXXX XXXXXXXXX, XXXXX 000 - XXXXXXXXX, XX. 91302
1818) 000-0000 - FAX (000) 000-0000
________________________________________________________________________________
LOS ANGELES, CALIFORNIA - MANHATTAN, NEVADA
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XXXXXXXXX INVESTMENT GROUP / NMM PREFERRED STOCK TO COMMON STOCK
NAME PREFERRED COMMON INVESTED INVEST $ DIVIDEND
Xxxxxxx Xxxxxxxxx 6,000 60,000 $20,000.00
Xxxxxxxxx Xxxxxxxxxx 1,500 15,000 $5,000.00
Xxx Xxxxxx 3,000 30,000 $10,000.00
Xxxxxxx Xxxxxxxx 7,500 75,000 $25,000.00
Xxxxxxxxxxx Xxxxx 5,000 50,000 $15,000.00
Xxxxx Xxxxxxxxx 59,500 595,000 $149,921.10
Xxxxx Xxxxxx 500 5,000
Xxxxxxx Xxxxxx 500 5,000 $1,259.86
Xxx Xxxxxx 500 5,000 $1,259.86
Xxxxx Xxxxxx 500 5,000 $1,259.86
Xxxxxx Xxxxxxxxx 1,000 10,000 $2,519.73
Xxxxxxx Xxxxxxxxx 1,000 10,000 $2,519.73
Total $235,000.00 $235,000.00
Xxxxx Xxxxxxxxx 9,000 90,000 $22,500.00
Xxxxxx Xxxxxxxx 1,000 10,000 $2,500.00
Total $25,000.00 $25,000.00
Xxxxxx Xxxxx 600 6,000 1,500.00
Xxxxx Xxxxxx 1,000 10,000 $2,500.00
Xxxx Xxxxxx 2,000 20,000 $5,000.00
Total $9,000.00 $9,000.00
TOTAL 100,100 1,001,000 $269,000.00
