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Exhibit 10.43
PROMISSORY NOTE
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$100,000.00
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Effective Date: October 31,
2007
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FOR VALUE RECEIVED,
ProUroCare Inc. (the “Debtor”) promises to pay to the
order of James L. Davis, or his successors and assigns (the
“Holder”), the principal sum of $100,000.00, together
with interest on all outstanding and unpaid amounts evidenced by
this Note at the rate of the US Prime Rate computed on the basis of
the actual number of days elapsed in the payment period and a
365-day year. This Note is not secured.
1.
Payment of Principal and Interest. This Note is due
and payable upon the first to occur of (1) Lender’s
closing on an aggregate of $500,000 or more of new financing, or
(2) November 30, 2007.
2.
Warrant Coverage. As an inducement to Lender to make
this loan, Borrower will issue to Lender a five-year warrant to
acquire up to up to 1,000 shares of ProUroCare Medical Inc. common
stock at $0.50 per share for each day the $100,000 principal
balance is outstanding (to be prorated if a portion of the loan is
repaid). For
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