Exhibit 10.14
March 20, 2002
New BitSnap, N.V.
Guy XxXxxxxx
Xxxxx List
This letter will serve to confirm the agreement between Remedent USA, Inc.
(the "Company") and New BitSnap, N.V., Xxx XxXxxxxx, Xxxxx List.
(1) New BitSnap, N.V. hereby agrees to the receipt of 3,000,000 shares of the
Company's common stock in full repayment of the $240,000, representing the
outstanding indebtedness for consulting services and advances through March
31, 2002. Repayment is calculated as the outstanding balance as of the date
of this agreement, at $0.08 per share.
(2) Xxx XxXxxxxx hereby agrees to the receipt of 60,000 shares of the Company's
common stock in full repayment of the $30,000, representing accrued
expenses and fees through March 31, 2002. Repayment is calculated as the
accrued salary at $0.50 per share.
(3) Xxxxx Xxxx hereby agrees to the receipt of 712,500 shares of the Company's
common stock in full repayment of the $57,000, representing accrued
expenses and fees through March 31, 2002. Repayment is calculated as the
accrued salary at $0.08 per share.
(4) The Company hereby agrees to file for registration on an SB-2 Registration
Statement, the shares of common stock outlined in (1), (2) & (3) above.
The above-mentioned terms are agreed upon on this day, by the following:
/s/ Xxxxxxx X. Xxxx /s/ Xxx XxXxxxxx
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Xxxxxxx X. Xxxx Xxx XxXxxxxx
Chief Financial Officer President
Remedent USA, Inc. New BitSnap, N.V.
/s/ Xxx XxXxxxxx /s/ Xxxxx Xxxx
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Xxx XxXxxxxx Xxxxx Xxxx
