CONVERSION AGREEMENT
Exhibit
4.20
This
Agreement executed on April
14, 2006 is
made
by and between Cobalis
Corp.,
a
Nevada corporation (the “Company”) with its principal place of business located
at 0000 XxXxxx Xxx, Xxxxx 000, Xxxxxx XX 00000 and Xxxxxxxxx
X. Xxxxxxxx (the
“Consultant”), with a business address at 0000 Xxxxxx Xxxxx, Xxxxxxx Xxxxx,
Xxxxxxxxxx 00000.
NOW
THEREFORE, in consideration of the foregoing recitals and the covenants and
obligations set forth below and for other good and valuable consideration,
the
receipt and sufficiency of which are hereby acknowledged, the Parties agree
as
follows:
Consulting
Fees Conversion:
The
Consultant has rendered its professional legal services to the Company related
to Business Center Dr. Partners L.P. litigation. The Consultant has submitted
to
the Company an invoice totaling $4,750 (four thousand seven hundred fifty
dollars). The
Parties hereby agree to convert $4,750 (four thousand seven hundred fifty
dollars), the full amount of this obligation of the Company, into 3,333 (three
thousand three hundred thirty-three) fully-paid and non-assessable free trading
shares,
upon
the execution of this Agreement.
The
Company shall immediately issue an S-8 registration with the Securities and
Exchange Commission in order to fulfill its future obligation to the Consultant.
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date
first written above.
| The Company (Cobalis, Corp.) | The Consultant (Xxxxxxxxx X. Xxxxxxxx) | ||
| /s/ Xxxxxxx Xxxxxxxx | /s/ Xxxxxxxxx X. Xxxxxxxx | ||
|
Xxxxxxx Xxxxxxxx
President/CEO
|
|
