Exhibit 99.1
CONVERTIBLE PROMISSORY NOTE
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|
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| $100,000 |
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December 12, 2007 |
FOR VALUE RECEIVED , the
undersigned, Sutura, Inc. , a Delaware corporation (the
“ Maker ”), hereby promises to pay to the
order of Pandora Select Partners, L.P. , a British Virgin
Islands limited partnership, or its assigns (the “
Payee ”), at such place as the Payee may
designate in writing, the principal sum of One Hundred Thousand
Dollars ($100,000) under the terms set forth herein. This Note is
being issued by Maker on the date hereof.
1.
Interest . The principal balance hereof shall bear a
one-time interest charge of Two Thousand Dollars ($2000) (the
“Interest Charge”).
2.
Payment . Except as otherwise provided herein, and
subject to any default hereunder, the principal and interest hereof
is due and payable on or before January 13, 2008. Maker may
prepay this Note at any time in its sole and absolute discretion;
provided that the Interest Charge shall remain due and payable in
full regardless of any such prepayment.
3.
Default . The occurrence of any one or more of the
following events shall constitute an event of default, upon which
Payee may declare the entire princip
