Cliff Johnsen - Promissory Notes
OCR transcript of text - Plasticon Letterhead omitted
PROMISSORY NOTE
March 30, 2005
$100,000.00
For valuable consideration received, one year after date, the undersigned promises to pay to the order of Mr. Cliff Johnsen in the amount of $100,000.00
This is a non-interest bearing loan. Repayment of the entire $100,000.00 loan is to be made to Mr. Cliff Johnsen by Plasticon International within six months of the date of the loan agreement. However, the loan may be extended for an additional six months if required by Plasticon International, Inc. automatically.
There will be no penalty for early repayment. 27,500,000 shares of Plasticon International, Inc. Stock arc provided as consideration for this loan, based on a stock price of $.0027. This stock is to be held in escrow during tha term of the loan and released to Mr. Johnsen at the end of the term of the loan, or upon repayment in full of the original $100,000.00 to Mr. Johnsen, whichever comes first However, this is free-trading stock and can be dribbled out as needed.
The entire loan amount of $100,000.00 is to be fully, one hundred percent collateralized by Plasticon International, Inc. Stock held in escrow will be 37,000,000 additional shares. The agreement must insure the transfer of 27,500,000 Plasticon International, Inc, stock at a price of $.0027 to Mr. Johnsen within the time frame described.
This note shall be negotiable and payable at Payee's address, 3166 Custer Drive, Suite 101, Lexington, KY 40517. The Makers, Endorsers and all parties to this note hereby waive presentment and demand, notice of demand, protest and notice of protest and non-payment hereof. Loaned funds are to be wired within 24 hours of receiving a faxed copy this promissory note with copies of the certificates, being overnited.
PROMISSORY NOTE
April 1, 2005
$200,000.00
For valuable consideration received, one year after date, the undersigned promises to pay to the order of Mr. Cliff Johnsen in the amount of $200,000.00
This is a non-interest bearing loan. Repayment of the entire $200,000.00 loan is to be made to Mr. Cliff Johnsen by Plasticon International within six months of the date of the loan agreement. However, the loan may be extended for an additional six months if required by PIasticon International, Inc. automatically.
There will be no penalty for early repayment. 55,000,000 shares of PIasticon International, Inc. Stock are provided as consideration for this loan, based on a stock price of $.0027. This stock is to be held in escrow during the term of the loan and released to Mr. Johnsen at the end of the term of the loan, or upon repayment in full of the original $200,000.00 to Mr. Johnsen, whichever comes first. However, this is free-trading stock and can be dribbled out as needed.
The entire loan amount of $200,000.00 is to be fully, one hundred percent collateralized by Plasticon International, Inc. Stock held in escrow will be 74,000,000 additional shares. The agreement must insure the transfer of 55,000,000 of Plasticon International, Inc. stock at a price of $0.0027 to Mr. Johnsen within the time frame described above.
This note shall be negotiable and payable at Payee's address, 3166 Custer Drive, Suite 101, Lexington, KY 40517. The Makers, Endorsers and all parties to this note hereby waive presentment and demand, notice of demand, protest and notice of protest and non-payment hereof Loaned funds are to be wired within 24 hours of receiving a faxed copy this promissory note with copies of the certifcates, being overnited.
PROMISSORY NOTE
May 20, 2005
$120,000.00
For valuable consideration received, one year after date, the undersigned promises to pay to the order of Mr. Cliff Johnsen in the amount of $120,000.00
This is a non-interest bearing loan_ Repayment of the entire $120,000.00 Loan is to be made to Mr. Cliff Johnsen by Plasticon International within six months of the date of the loan agreement. However. the loan may be extended for an additional six months if required by Plasticon International, Inc. automatically.
There will be no penalty for early repayment. 33,334,000 shares of Plasticon International, Inc. Stock are provided as consideration for this loan, based on a stock price of $.0027. This stock is to be held in escrow during the term of the loan and released to Mr. Johnsen at the end of the term of the loan, or upon repayment in full of the original $120,000.00 to Mr. Johnsen, whichever comes first. However, this is free-trading stock and can be dribbled out as needed.
The entire loan amount of $120,000.00 is to be fully, one hundred percent collateralized by Plasticon International, Inc. Stock held in escrow will be 44,445,000 additional shares. The agreement must insure the transfer of 33,334,000 of Plasticon International, Inc. stock at a price of $.0027 to Mr_ Johnsen within the time frame described above.
This note shall be negotiable and payable at Payee's address, 3166 Custer Drive, Suite 101, Lexington, KY 40517. The Makers, Endorsers and all parties to this note hereby waive presentment and demand, notice of demand, protest and notice of protest and non-payment hereof. Loaned funds are to be wired within 24 hours of receiving a faxed copy this promissory note with copies of the certificates, being overnited.
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Signatures of Cliff Johnsen and James N. Turek |
