Gary C. Evans
EXHIBIT 4.5.3 – AGREEMENT TO CONVERT CONVERTIBLE SUBORDINATED NOTE TO SHARES OF THE COMPANY’S COMMON STOCK XXXX X. XXXXX
Xxxx X. Xxxxx
0000 XxxxxXxx Xxxxxx Xxxxx, Xxxxx 00000 (972) 410-1395
December 29, 2003
Xx. Xxxxx X. Xxxxxxxxx
President/CEO
Advant-e Corporation
0000 Xxxxxx Xxxxxx Xxxx
Xxxxxx, XX 45~40
Xx. Xxxxxxxxx,
As a follow-up to our recent telephone conversations, this letter is to document ray request to convert Seventy-five Thousand Dollars ($75,000) or 100% of the Convertible Subordinated Note that I presently hold dated October 7, 2001, into common stock of Advant-e Corporation.
Based on the agreed conversion price of $1.06 per share, I should expect to receive 70,755 shares of Advant-e Common Stock as per the Note Purchase Agreement dated October 7, 2001.
As agreed to when this Promissory Note was last renewed and extended, the existing Warrants that I currently hold in Advant-e Corporation have had the term extended by one (1) additional year. The new Warrant extension agreement will be forthcoming.
As of December 31, 2003, there is $2,594 of accrued interest that I would like paid in cash within the next ten (10) days.
I will forward to you the original Convertible Subordinated Note as per the terms of the Note Purchase Agreement upon receipt of the above-mentioned items.
Sincerely, |
Xxxx X. Xxxxx |
Agreed and Accepted this 29 day of December 2003.
Xxxxx X. Xxxxxxxxx |
President/CEO |
Advant-e Corporation |
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