Re: Debt Cancellation AgreementDebt Cancellation Agreement • August 9th, 2011 • Xodtec Led, Inc. • Electric lighting & wiring equipment
This agreement sets forth the terms on which the undersigned (the “Lender”) agrees to cancel indebtedness to the Lender by Xodtec LED, Inc., a Nevada corporation (the “Company”), in the principal amount of US$1,707,965, in consideration for which the Company will issue to Lender 34,159,120 shares (the “Shares”) of common stock, par value $.001 per share (“Common Stock”).
