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CDEX Inc.
The Technology Development Company
February 25, 2002
Mr. ▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
▇▇. ▇▇▇▇▇▇▇:
Pursuant to our November 21, 2001 Convertible Note Purchase Agreement, this letter confirms our receipt of the Conversion Request dated February 25, 2002 to convert the Promissory Note dated February 25, 2002 in the amount of $40,000 (Forty Thousand) to CDEX Common Stock. This is the final Conversion Request under the November 21, 2001 Agreement.
CDEX has converted the following Promissory Notes to CDEX Common stock at your request:
| Note Date |
Amount |
Request |
Shares |
Certificate # |
|||||
|---|---|---|---|---|---|---|---|---|---|
| November 21, 2001 | $ | 125,000 | December 15, 2001 | 250,000 | 29 | ||||
| January 2, 2002 | $ | 116,000 | January 4, 2002 | 290,000 | 28 | ||||
| February 25, 2002 | $ | 40,000 | February 25, 2002 | 133,334 | 37 | ||||
CDEX and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ acknowledge that all Promissory Notes have been destroyed by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ upon receipt of appropriate Certificates.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ |
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ Director, Business Development CDEX Inc. |