INNOVATIVE SOFTWARE TECHNOLOGIES, INC. 10% Convertible Note Due November 13, 2011Convertible Note • May 18th, 2011 • Innovative Software Technologies Inc • Services-business services, nec • Florida
This 10% Convertible Note (“this Note”) is issued by INNOVATIVE SOFTWARE TECHNOLOGIES, INC., a Delaware corporation (the “Obligor”), to Robert W. Singerman (the “Holder”).
OFFER OF RESCISSION AND COMPROMISE SETTLEMENTSettlement Agreement • May 18th, 2011 • Innovative Software Technologies Inc • Services-business services, nec
Due to irreconcilable differences as well as lack of performance to written and oral agreements regarding the transaction (“Transaction”) between Innovative Software Technologies, Inc., The WEB Channel Network, Inc., The WEB Channel Network, LLC and Robert W. Singerman, (“Parties”) dated June 17, 2009, the parties agree to compromise and rescind the transaction.
