Exhibit 10.10
EN2GO INTERNATIONAL,
INC.
PROMISSORY NOTE
US$250,000.00
August 1,
2008
Burbank, CA
1.
Loan
Amount .
FOR VALUE RECEIVED, EN2GO INTERNATIONAL, INC. , a
Nevada corporation (“ Borrower ”), hereby
promises to pay to the order of NSC Investments Ltd., (“
Lender ”), the principal sum of Two Hundred Fifty
Thousand and 00/100 Dollars ($250,000.00) (or such lesser amount as
Lender actually loans to Borrower), at the place and in the manner
hereinafter provided, together with interest thereon at the rates
described below.
2.
Payment of
Interest . Interest shall be prepaid at
the commencement of each quarter by the Borrower issuing 16,000
common shares of en2go to the Lender.
3.
Payments of
Principal . The unpaid principal balance
of this Note, if not sooner declared to be due in accordance with
the terms hereof, shall be due and payable in full on the sale of
any assets of the Borrower or November 1, 2008 (the “Maturity
Date”).
4.
Additional
Consideration for the Loan . As further consideration for
the issuance of this Loan, the Borrower will issue a minimum
150,000 common shares of en2go to the Lender, upon advance of the
principal sum. On the first day of the next month an
additional 50,000 common shares. On the first day of the third
month 100,000 common shares, totaling 300,000 shares maximum
covering the first three months that the loan is
outstanding.
5.
Method of
Payments . All payments of principal
hereunder shall be paid by check, wire transfer or in coin or
currency which, at the time or times of payment, is the legal
tender for public and private debts in the United States of America
and shall be made at such place as Lender may from time to time
appoint. At the sole option of the Lender, the Lender
can convert this Note into common shares of en2go. The number
of shares to be issued shall be determined by dividing the amount
submitted for conversion by at 80% of the
