Exhibit 10.13
AMENDMENT NO. 1 TO THE SUBSCRIPTION AGREEMENT DATED APRIL 25, 2002 (THE
"SUBSCRIPTION AGREEMENT") BETWEEN DIVERSIFIED PRODUCT INSPECTIONS, INC., A
FLORIDA CORPORATION, (THE "COMPANY"), AND THE UNDERSIGNED DEBENTURE PURCHASER,
SOFCON LIMITED.
The undersigned parties hereby agree to remove the following language from
section 1 (c) of the Subscription Agreement:
"As further conditions to the funding of the second tranche in the amount of
$100,000 it will only be funded if, during the 20 trading days prior to funding,
(i) the closing bid price has not been less than $0.25, (ii) the daily average
dollar trading volume (trading volume x closing bid price by number of trading
days) has not been less than $20,000 and (iii) the number of shares of Common
Stock being registered is not less than 200% of the number of shares required to
effect a conversion of the totaling $300,000 Debentures, taking into account the
number of Warrants issued and accrued but unpaid interest and liquidated
damages, if any."
Dated: June 3, 2002
DIVERSIFIED PRODUCT INSPECTIONS, INC.
BY: /s/ Xxxx Xxx Xxxx
__________________
Xxxx Xxx Xxxx
SOFCON LIMITED
BY: /s/ Xxx Xxxxxxxx
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Xxx Xxxxxxxx
