CONVERTIBLE NOTEConvertible Promissory Note |
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Java Express, Inc.
(a Nevada Corporation)
Convertible Note
Java Express, Inc., a Nevada Corporation ("Company") for value received (summarized more specifically in Exhibit I.) hereby promises to pay to Kelly Trimble (the "Holder") or its assignee, the sum of Eleven Thousand Eighty-five Dollars and Seventy-five Cents. ($11,085.75) US, with no interest in consideration of the conversion right and payable in accordance with the terms and conditions set forth herein.
1)
Payment Terms
: Principal shall be all due and payable on December 31, 2006.2)
Right to Convert by Holder
: The Holder of this Note shall have the option to convert the entire amount or any portion thereof, of the principal of this Note into shares of common stock of the Company at a conversion price as hereinafter provided in Paragraph 3 below.3)
Conversion Price
: The principal of the Note shall be converted into common shares of the Company (the "Converted Shares") at a share price equal to the "bid" price of the Company's common stock on the date of the conversion, or in the event the Company has no bid price, the principal of this Note shall be converted into 12,000 shares as an equity position of the Company.4)
Conversion Date
: The Conversion Date f





