EXHIBIT 10.14
AMENDMENT
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TO
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INVESTMENT AGREEMENT
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Dated March 21, 1995
THIS AMENDMENT to the Investment Agreement, dated March 21, 1995, with
an Addendum dated March 31, 1995, is hereby entered into by Virtual Realty
Network, Inc. ("Virtual Realty") and American Growth Fund I, ("American
Growth") a California Limited Partnership, by American Growth Capital Cor-
poration, Managing General Partner, with offices at 0000 Xxxx Xxxxxxxxx,
Xxx. 000X, Xxx Xxxxx, Xxxxxx 00000, and the parties hereto agree as follows:
1. American Growth has purchased 250,000 shares of Series A
Preferred Stock on June 22, 1995. American Growth has received a copy of the
Purchase Agreement, the Rights Agreement (Exhibit E) and the Co-Sale and Right
of First Refusal Agreement (Exhibit F), including all of the Exhibits A-J
thereto. American Growth has read, understood and agreed to be bound by and
purchase the Series A Preferred Stock under the terms and conditions of those
agreements, including those exceptions to the Agreement (Exhibit C, attached
thereto). American Growth and Virtual Realty hereby agree that paragraphs 3.2
Management Services and 4.5 Investment Banking Services are null and void as of
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the date of the purchase of the Series A Preferred Stock, and all other terms
and conditions of the original investment dated March 21, 1995, and the
Addendum, dated March 31, 1995, remain in full force and effect. All future
Management Services and Investment Banking Services contemplated between the
parties will be negotiated and evidenced by separate written contract.
2. Virtual Realty had executed two (2) Corporate Promissory Notes
in the amounts of $200,000 and $100,000 respectively, on March 22, 1995,
attached as Exhibit "A" to the Investment Agreement. The parties agree that
these two (2) Corporate Promissory Notes in the amounts of $200,000 and $100,000
respectively, dated March 22, 1995, are hereby canceled and replaced by the one
(1) Corporate Promissory Notes in the
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amounts of $200,000, executed on June 30, 1995 by virtual Realty Applications
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Group, Inc., a subsidiary of Virtyal Realty Network, Inc. American Growth hereby
acknowldges receipt of the original Corporate Promissory Note on August 30,
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1995, a copy of which is attached hereto.
3. Pursuant to the Investment Agreement, Virtual Realty has issued
one certificate in the amount of 250,000 shares of common stock and one warrant
in the amount of 175,000 on March 22, 1995. Under the terms of paragraph 4.2
Shares, Virtual Realty issued common shares and warrants to each Limited Partner
of record. American Growth has agreed, and does hereby agree, to supply to
Virtual Realty with all pertinent information regarding such Limited Partners as
are now shareholders in Virtual Realty, including, but not limited to, their
full name, address, telephone numbers and type of ownership. Virtual Realty
agrees to retain such information received from American Growth as the company's
confidential shareholder list, and shall not use this information for any
purpose other than Virtual Realty's legitimate business purposes related to its
own shareholder relations.
IN WITNESS THEREOF, the parties have executed this Amendment to the Investment
Agreement, dated March 21, 1995, with an addendum dated March 31, 1995, on this
15th day of September, 1995.
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VIRTUAL REALTY NETWORK, INC. AMERICAN GROWTH FUND I,
0000 XxxXxxxxx Xxxx., Xxx. 000 a California limited partnership
Xxxxxxx Xxxxx, XX 00000 By: American Growth Capital
Corp., Managing General Partner
By: /s/ Xxxxxxx X. Xxxxxx, Pres. By: /s/ Xxxxx Xxxxxx, President
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XXXXXXX X. XXXXXX, Pres. XXXXX XXXXXX, President
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