Debt Resolution Agreement
TetriDyn Solutions, Inc. (the “Company”) had amounts due to Xxxxx X. Xxxxxxxxx (a shareholder) for funds loaned to the Company and for Company expenditures covered by Xx. Xxxxxxxxx. The balances due to Xx. Xxxxxxxxx at April 20, 2007 was $77,750.85. The notes payable bear interest at 6% per annum, resulting in the Company owing Xx. Xxxxxxxxx an additional $6,329.36 in accrued interest.
On April 20, 2007, the Company offered and Xx. Xxxxxxxxx accepted an agreement for the Company to pay the debt to Xx. Xxxxxxxxx in the Company’s common stock, based on the fair value at closing that day. On April 20, 2007, the Company’s common stock closed at $0.20 per share. As a result, the Company will issue 420,401 shares of common stock for the cancellation of the debt to Xx. Xxxxxxxxx.
Both of the above parties indicate their concurrence with the above agreement by signing below.
/s/ Xxxxx X. Hempstead_______________
Xxxxx X. Xxxxxxxxx
/s/ Xxxxxxx X. Hendrickson______________
Xxxxxxx X. Xxxxxxxxxxx, Director
/s/ Xxxxx X. Ybarrondo__________________
Xxxxx X. Xxxxxxxxx, Director
0000 Xxxxx Xxxxxx Xxxxx, Xxxxxxxxx, Xxxxx 00000 (208) 232-4200
