SULLIVAN & WORCESTER Sullivan & Worcester LLP 1290 Avenue of the Americas New York, NY 10104 T 212 660 3000 F 212 660 3001 www.sandw.com
EXHIBIT
99.2
XXXXXXXX &
WORCESTER
|
Xxxxxxxx
& Worcester LLP
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
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T 212 660
3000
F 000 000 0000
xxx.xxxxx.xxx
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June 20,
2008
By
Facsimile and Mail
Xxxxxxxx
Xxxxxx
President
Amerex
Companies, Inc. 0000 X. Xxxxxx Xxxxxx Xxxxx, XX 00000
Re:
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Letter
Agreement dated August 10, 2007 between Amerex Group, Inc. and
Professional
Offshore
Opportunity Fund, Ltd. (the "Letter
Agreement")
|
Dear Xx.
Xxxxxx:
Pursuant
to the referenced Letter Agreement, we write on behalf of our client,
Professional Offshore Opportunity Fund, Ltd. (the "Lender"), to demand that
Amerex Group, Inc. (the "Borrower") repurchase the 500,000 shares (the "Shares")
issued by Borrower to Lender in connection with the $750,000 Loan referenced in
the Letter Agreement. The repurchase price is $700,000.
Under the
Letter Agreement, Borrower is obligated promptly to repurchase the Shares for
$700,000 in the event that they are not unrestricted and freely tradable at the
time of an event of default under the Note. Borrower is and has been for some
time in default under the Note, yet the Shares remain restricted and
unregistered. As such, Borrower is required to fulfill it repurchase obligation
under the Letter Agreement.
You
should also know that Lender has directed this firm to commence a lawsuit
against Borrower for the full amount due under the Note. Unless we receive an
adequate assurance from you today that Amerex will honor its repurchase
obligation under the Letter Agreement, the lawsuit will seek to enforce the
Letter Agreement as well.
This
demand is made without prejudice to Lender's rights against Borrower under the
Note, the Letter Agreement, or any other agreement.
Respectfully
yours,
/s/
Xxxxxx X. Xxxxxxx
Xxxxxx X.
Xxxxxxx
Direct
line: 000 000 0000
xxxxxxxx@xxxxx.xxx
cc.:
Professional Offshore Opportunity Fund, Ltd.
BOSTON NEW YORK WASHINGTON,
DC