CONVERTIBLE PROMISSORY NOTEConvertible Promissory Note |
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Exhibit
10.1
CONVERTIBLE
PROMISSORY NOTE
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$83,333.33
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July
20, 2007
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FOR
VALUE
RECEIVED, the undersigned, VoIP, INC., a Texas corporation (the "Company"),
promises to pay to the order of ALPHA CAPITAL ANSALT, or its successors or
assigns ("Holder"), at 551 Fifth Avenue, Suite 1601, New York, New York 10176,
or at such other place as the Holder may designate in writing to the Company,
in
lawful money of the United States of America, the principal sum of Eighty Three
Thousand Three Hundred Thirty Three Dollars and Thirty Three Cents ($83,333.33),
payable at the earlier of any of the following events or dates:
| 4. |
August
20, 2007;
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| 5. |
The
Company’s closing and funding of a financing agreement that nets a minimum
receipt of $1,000,000 cash; or
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| 6. |
The
Company’s first substantial receipt of cash related to revenue generated
from a major new customer.
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