10.2 Addendum C to Securities Purchase Agreement with IPN Communications, Inc.
DataLogic International, Inc.
00000 Xxx Xxxxxx Xxx., Xxxxx 000 * Xxxxxx, XX 00000
* Tel: (000) 000-0000 * Fax: (000) 000-0000
SECURITIES PURCHASE AGREEMENT
ADDENDUM C
This is an Addendum to the Securities Purchase Agreement entered into between
DataLogic International, Inc. (hereinafter "DataLogic") and IPN
Communications, Inc. (hereinafter "IPN") or collectively "the Parties" on the
2nd of June 2003.
WHEREAS DataLogic is DataLogic International or its subsidiary and IPN is IPN
or its principals;
WHEREAS the parties wish to extend the Agreement as follows:
1. TRANSACTION
DataLogic will purchase the remaining four hundred and ninety thousand
(490,000) shares of IPN at sixty-one cents ($0.62) per share. This purchase
shall be made in accordance to the conditions in section 2.
2. CONDITIONS OF THE PURCHASE OF SHARES AND FUNDING
The stock valuation will be made based on the closing price of DataLogic
on the closing date of the transaction.
DataLogic's equity ownership in IPN will be vested immediately. In
exchange for four hundred and ninety thousand (490,000) shares of IPN,
DataLogic will fund IPN according to the following schedule:
i. Funding. Upon the closing, DataLogic will issue IPN three hundred
thousand ($300,000) dollars in restricted common stock.
ii. Management Agreement. DataLogic agrees to enter into management
service contract with IPN until December 31, 2005. The terms of the
agreements will be outlined in a separate Management Agreement.
IN WITNESS WHEREOF, the parties have entered into this Agreement as of the
dates hereof.
DataLogic International, Inc. IPN Communications, Inc.
/s/ Xxxxx Xxxxxx 11/05/04 /s/ Xxxxxxx Xx 11/05/04
_____________________________ ________________________________
Xxxxx Xxxxxx Date Xxxxxxx Xx Date
President CEO
