Attached files
file | filename |
---|---|
10-K - All Energy Corp | v181264_10k.htm |
EX-10.7 - All Energy Corp | v181264_ex107.htm |
EX-10.6 - All Energy Corp | v181264_ex106.htm |
EX-22.1 - All Energy Corp | v181264_ex221.htm |
EX-10.2 - All Energy Corp | v181264_ex102.htm |
EX-31.1 - All Energy Corp | v181264_ex311.htm |
EX-10.1 - All Energy Corp | v181264_ex101.htm |
EX-10.5 - All Energy Corp | v181264_ex105.htm |
EX-10.8 - All Energy Corp | v181264_ex108.htm |
EX-32.1 - All Energy Corp | v181264_ex321.htm |
EX-10.4 - All Energy Corp | v181264_ex104.htm |
EXHIBIT 10.3
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THESE SECURITIES, INCLUDING THE SECURITIES INTO WHICH THEY MAY BE CONVERTED, HAVE BEEN ISSUED IN RELIANCE UPON THE EXEMPTION FROM REGISTRATION AFFORDED BY SECTION 4(2) OF THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE TRANSFERRED WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION TO THE EFFECT THAT ANY SUCH PROPOSED TRANSFER IS IN ACCORDANCE WITH ALL APPLICABLE LAWS, RULES AND REGULATIONS.
CONVERTIBLE PROMISSORY NOTE
$50,000.00 August 3, 2009
FOR VALUE RECEIVED, ALL Fuels & Energy Company, a Delaware corporation (“Maker”), and Dean E. Sukowatey (“Payee”), the undersigned, Maker, promises, pursuant to the terms of this Convertible Promissory Note (the “Note”), to pay to Payee (Payee and any subsequent holders hereof are hereinafter referred to collectively as “Holder”), at 6165 N.W. 86th Street, Johnston, Iowa 50131, or at such other place as Holder may designate to Maker in writing from time to time, the amount of FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00), together with interest thereon at the rate of ten percent (10%) per annum until paid, which shall be due and payable on demand.
The indebtedness, or any portion thereof, evidenced hereby may, at any time and from time to time, at Holder’s sole option, be converted into shares of Maker’s $.001 par value common stock at the rate of one share for every $.01 of indebtedness so converted. Holder shall deliver to Maker, at the address set forth above, a written notice of his intent to convert some or all of the indebtedness into shares of common stock of Maker, which notice shall set forth the amount of indebtedness which is to be so converted.
The indebtedness evidenced hereby may be prepaid in whole or in part, at any time and from time to time, without premium or penalty.
All payments due pursuant to this Note shall be made in lawful money of the United States of America in immediately available funds, at the address of Payee indicated above, or such other place as Holder shall designate in writing to Maker. If any payment on this Note shall become due on a day which is not a Business Day (as hereinafter defined), such payment shall be made on the next succeeding Business Day and any payment made pursuant to the foregoing shall not be deemed late for purposes of assessing interest pursuant to the preceding paragraph. As used herein, the term “Business Day” shall mean any day other than a Saturday, Sunday or any other day on which national banking associations are authorized to be closed.