Promissory Note # : 2425221
Plasticon Doc 156-8 filed 09 Aug 07
Exhibit 18
Extract -
Promissory Note # : 2425221
UNANIMOUS WRITTEN CONSENT WITHOUT A MEETING OF THE BOARD OF DIRECTORS OF LEXREAL CO., LLC
The undersigned, being all the directors of LexReal Co ., LLC a Kentucky Corporation (the "Corporation") hereby consent to the adoption of the following resolution by written consent without a meeting, pursuant to the Kentucky Revised Statutes, as amended:
WHEREAS, the corporation believes it is the best interest of the Corporation and the Corporation's shareholders to: Agree to loan by way of a Convertible Promissory Note of $6,000.00 to Plasticon International, Inc . with an annual interest rate of 10% until paid.
RESOLVED, the corporation understands this is a Convertible Promissory Note in favor of LexReal Co., LLC and is of the same principal amount with annual interest of 10% and allowing the holder of this Note to convert any portion of the unpaid principal, and interest into shares of the corporation at the share price of $ .0001 as described by the Promissory Note ($6,000 / .0001 = 60,000,000).
BE IT EVEN FURTHER RESOLVED, that the directors hereby approve and authorize the above amendment of the Corporation's Articles of Incorporation and that the officers of this Corporation and empowered and directed, in the name of and on behalf of this Corporation, to execute and sign this written consent ; and the officers of this Corporation and empowered and directed in the name of and on behalf of this Corporation to execute and deliver all documents, to make all payments, and to perform any other act as may be necessary from time to time to carry out the purposes and intent of these resolutions. All such acts and doings of the directors and officers of this Corporation consistent with the purposes of these resolutions are hereby authorized, approved, ratified and confirmed in all respects.
DATED this 22°d day of May 2007.
Brandon D. Turek, President
Promissory Note # : 2425221
UNANIMOUS WRITTEN CONSENT WITHOUT A MEETING OF THE BOARD OF DIRECTORS OF Plasticon International, Inc.
The undersigned, being all the directors of Plasticon International, Inc. a Wyoming Corporation (the "Corporation") hereby consent to the adoption of the following resolution by written consent without a meeting, pursuant to the Wyoming
Revised Statutes, as amended:
WHEREAS, the corporation believes it is the best interest of the Corporation and the Corporation's shareholders to obtain a loan of$6,000.00 from LexReal Co., LLC do hereby authorize James N. Turek, Sr. to enter into a loan agreement with LexReal Co ., LLC.
RESOLVED, the corporation understands this is a Convertible Promissory Note in favor of LexReal Co., LLC and is of the same principal amount with annual interest of 10% and allowing the holder of this Note to convert any portion of the unpaid principal and interest into shares of the corporation at a share price of $ .0001 as described by the Promissory Note ($6,000 / .0001 = 60,000,000).
LexReal Co., LLC
$6,000.00
May 22, 2007
Interest at 10%
Due by 12/31/2010
Conversion rate of $.0001
BE IT EVEN FURTHER RESOLVED, that the directors hereby approve and authorize the above note and that the officers of this Corporation, empowered and directed, in the name of and on behalf of this Corporation, to execute and sign this written consent; and the officers of this Corporation and empowered and directed in the name of and on behalf of this Corporation to execute and deliver all documents, to make all payments, and to perform any other act as may be necessary from time to time to carry out the purposes and intent of these resolutions. All such acts and doings of the directors and officers of this Corporation consistent with the purposes of these resolutions are hereby authorized, approved, ratified and confirmed in all respects.
DATED this 22°d day of May, 2007.
James . Turek, Sr., President
Note #: 2425221
Promissory Note (Convertible)
May 22, 2007
$6,000.00
For valuable consideration received, within three years after date, the undersigned promises to pay to the order of LexReal Co ., LLC in the amount of $6,000.00 for repayment of debt incurred by company, with an annual interest at the rate of 10% until paid, amortized over the life of the loan, with all interest and principal hereunder due and fully payable on December 31, 2010.
This note shall be negotiable and payable at Payee's address, 2196 Broadhead Place Lexington, KY 40515.
It is agreed that all matured interest installments shall bear interest until paid, and that upon failure to pay the principal and interest on this note when due, then the holder hereof may elect to consider this note together with all arrears of interest to be immediately due and payable and the same shall be collected at once at the option of said holder. Late charges will be assessed after 5 days from due date at a rate of 20% per day on the unpaid balance and the issuance of 3 shares of common stock at the current market price, as of the default date, per day, at the lender's option.
The holder reserves the right to, at anytime; convert this note into Common Shares of Plasticon International, Inc. at the rate of $ .0001 per share as consideration for payment of this loan's principle and interest in full, at the holder's discretion .
An upfront fee of $60,000,000 (sic)($6,000 / .0001 = 60,000,000) common shares of Plasticon, Inc . stock, to be paid at closing.
May 22, 2007
Brandon D. Turek, President
LexReal Co., LLC
James . Turek, Sr., President
Plasticon International, Inc . |
