CONVERSION AGREEMENT
Exhibit
4.16
This
Agreement executed on
April 14, 2006 is
made
by and between Cobalis
Corp.,
a
Nevada corporation (the “Company”) with its principal place of business located
at 0000 XxXxxx Xxx, Xxxxx 000, Xxxxxx XX 00000 and DLZ
Consulting, LLC (the “Consultant”),
with a
principal place of business located at 0000 Xxxxx Xxxxxxxx Xxxxx, Xxxxx, XX
00000.
NOW
THEREFORE, in consideration of the foregoing recitals and the covenants and
obligations set forth below and for other good and valuable consideration,
the
receipt and sufficiency of which are hereby acknowledged, the Parties agree
as
follows:
Consulting
Conversion:
The
Parties agree to convert
$45,000 (forty-five thousand five dollars) of Consultant’s fees (covering DLZ
Invoices CC2005-3 trough 7) for litigation management services related to the
consulting agreement with the Company into 30,000 (thirty thousand) fully-paid
and non-assessable free trading shares, at the conversion rate of $1.50 per
share,
upon
the execution of this Agreement. This shall satisfy invoices for M
The
Company shall immediately file and effectuate an S-8 registration with the
Securities and Exchange Commission in order to fulfill its obligation to the
Consultant.
IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date
first written above.
The Company (Cobalis, Corp.) | The Consultant (DLZ Consulting, LLC) | ||
/s/ Xxxxxxx Xxxxxxxx | /s/ Xxxxx Xxxxxx | ||
Xxxxxxx Xxxxxxxx
President/CEO
|
Xxxxx Xxxxxx
President
|