Standard Contracts
EXHIBIT 10.16 - LETTER AGREEMENT DATED SEPTEMBER 26, 2001 BETWEEN THE REGISTRANT AND LAURUS MASTER FUND, LTD CONNECTING THE FUTURE WITH THE PRESENT Via facsimile (212) 541-4434 & e-mail September 26, 2001 Mr. David Grin Mr. Pat Regan Laurus Master...Extension Request of Maturity Date of Note • April 26th, 2002 • Conectisys Corp • Radio & tv broadcasting & communications equipment
We are making final preparations for filing of an amended SB-2/A pursuant to the SEC's comments of August 24, 2001. In light of the delays in business operations caused by the tragic events of September 11, 2001 and in order to allow sufficient time for the SB-2/A to become effective, we would like your agreement to extend the maturity and interest due dates of the current convertible note in the principal amount of $300,000 plus interest with Laurus Master Fund, Ltd. to November 1, 2001.
