EXHIBIT 10.72
Addendum to "Extension of Maturity of Promissory Note and Modification of
Subscription and Warrant Purchase Agreement" dated May 7, 2003 between
UltraStrip Systems, Inc. and Xxxxxx X. Xxxxxx, in the amount of $125,000.00
Whereas on September 26, 2003, the outstanding principal balance on the
promissory note extension referenced above is $125,000.00, UltraStrip Systems,
Inc. ("Maker") and Xxxxxx X. Xxxxxx ("Holder") hereby agree to amend the
promissory note referenced above as follows:
- The exercise price of the additional 10,000 warrants issued as
interest is changed from $0.07 to $0.93.
- The expiration date of the warrants is corrected from July 7, 2023 to
May 7, 2023.
Date: September 26, 2003
Lender: UltraStrip Systems, Inc.
----------------------- By:
Xxxxxx X. Xxxxxx -----------------------
Its:
----------------------
