Convertible Note Payable
Principal Amount $
100,000
Date: 07/25/2007
FOR VALUE RECEIVED, eWorld
Interactive, Inc. (EWIN.OB) hereby promises to pay to the order of:
Ms. Po-Ngan Yu
|
|
Flat B ,22
nd floor Nelly Heights ,
Belar Gardens, Shatin,NT, Hong
Kong
|
the sum of one hundred thousand
dollars ($100,000), together along with interest thereon at the
rate of 12% per annum on the unpaid balance.
This Convertible Note Payable
shall be paid in full on or before January 25, 2008, when it shall
be due and payable on demand of any holder thereof. It may be
prepaid in part or whole without penalty. All payments shall be
first applied to interest and the balance to principal.
This Convertible Note Payable
shall be convertible by the holder into Common shares of eWorld
Interactive, Inc. (EWIN.OB). The conversion rate shall be at a 20%
discount to the ten day average trading price at the time the
request for conversion is received by eWorld Interactive,
Inc.
The notice of conversion shall be
written and indicate the amount of the outstanding debt to be
converted. eWorld Interactive, Inc. (EWIN.OB) shall have the right
to pay any portion of the outstanding balance prior to the due
date. Any requests for conversion shall be limited to the
outstanding balance and any accrued interest.
The Common shares issues pursuant
to a conversion by the holder have not been registered with the
Securit
