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Exhibit 10.44
PROMISSORY NOTE
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$25,000.00
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Effective Date: November 30,
2007
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FOR VALUE RECEIVED,
ProUroCare Inc. (the “Debtor”) promises to pay to the
order of Davis & Associates, or its successors and assigns
(the “Holder”), the principal sum of $25,000.00,
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) December 31, 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 250 shares of ProUroCare Medical Inc. common
stock at $0.50 per share for each day the $25,000 principal balance
is outstanding (to be prorate
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