AGREEMENT TO CONVERT DEBT
EXHIBIT 10.2
AGREEMENT TO CONVERT DEBT
DATE: September 30, 2012
TO: Xxxx Xxxxx, Manager, Meshugeneh LLC
FROM: Xxxxxx X. Xxxxxxxx, Chairman, Sibling Group Holdings, Inc.
RE: Conversion of Debt
This memo shall serve to record the agreement by Meshugeneh, LLC to convert the existing debt at September 30, 2012 to common stock in SIBE at $2.00 per share. The outstanding amount as of that date that shall be converted is $377,034.60, and in consideration of the conversion of the debt is 188,500 shares of common stock shall be issued. Meshugeneh may issue the shares to third parties and will notify the transfer agent of the issuance information at the time of issuance.
Thank you for your assistance.
Signed:
Xxxxxx X. Xxxxxxxx
Chairman
Xxxx Xxxxx
Manager for Meshugeneh, LLC
Meshugeneh - settle payable | 188,500 |
Xxxxxxx X. Xxxxx - xxxxxx payable | 68,500 |