First Amendment To Securities Purchase Agreement
Exhibit 10.52
First Amendment To Securities Purchase Agreement
This FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of
October 27, 2008, between Ecology Coatings, Inc., a corporation organized under the laws of the
state of Nevada (the “Company”), and Equity 11, Ltd., a corporation organized under the
laws of the state of Michigan (the “Purchaser”).
1. The Company has deemed it to be in its best interest to provide additional time and
flexibility to Purchaser to decide whether to make additional purchase(s) of Convertible Preferred
Shares. Accordingly, the parties agree to amend Section 2.2 of the Agreement as follows:
Section 2.2 | Purchases of Additional Preferred Shares. |
(1) Purchaser, in Purchaser’s sole and absolute discretion, may purchase up to 3740 additional
Convertible Preferred Shares by the dates and not less than the amounts as shown below:
Days from Initial Closing | Number of Shares | Aggregate Purchase Price | ||
30
|
750 | $750,000 |
Thereafter, until May 28, 2009, Purchaser may make additional purchases of up to 2,990
additional Convertible Preferred Shares at times and in amounts at its discretion.
ECOLOGY COATINGS, INC. | EQUITY 11, LTD. | |||||||
BY:
|
/s/Xxxxxx X. Xxxxxxxx | By: | /s/ X.X. Xxxxx | |||||
Its:
|
CEO | Its: | CEO |