CONFIDENTIAL LETTER AGREEMENTLetter Agreement • December 18th, 2020 • W Technologies, Inc. • Services-miscellaneous amusement & recreation • California
The original Letter of Intent dated November 4, 2019 (“Old LOI”), is herby replaced in full by this Letter Agreement and the Old Note is void and of no further force or effect. The Old LOI originally contemplated the acquisition (the “Acquisition”) by Mid Atlantic Capital Associates, Inc., (“MACA”), of two convertible promissory notes of the Company, dated September 11, 2006 and September 21, 2006 collectively (“Notes”) allegedly owned by Sarkis Sarkissian (“Sarkissian”) and of all of the outstanding shares of the Series E Preferred Stock (“Preferred”) owned of record by the C.H. Mornas Foundation (“Mornas”). Subsequent thereto, it was determined that as a result of due diligence by MACA, certain provisions/terms of the Old LOI need to be revised as hereinafter set forth. Daniel Belanger (“Daniel”) as representative of Certain Current and Prior Shareholders of the Company, concurs in such changes. The Old Note is restated in full as follows:
