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PROMISSORY NOTE
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$250,000.00
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September 5, 2008
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FOR VALUE RECEIVED, the
undersigned, PURPLE BEVERAGE COMPANY, INC., a Nevada corporation
(“Debtor”), promises to pay to the order of Barry
Honig., or its successors or assigns (“Lender”), on the
sooner of October 24, 2008, or within five days of receipt by the
Debtor of funds in excess of Two Hundred and Fifty Thousand Dollars
and no cents (“Maturity Date”) at 551 Fifth Avenue,
Suite 1601, New York, New York 10176, or at such other place as the
Lender may designate from time to time in writing to the Debtor, in
lawful money of the United States of America, the principal Sum of
Two Hundred and Fifty Thousand Dollars and no cents ($250,000.00),
together with interest on the unpaid principal balance of this Note
from the date hereof until paid at five percent (5%) per annum. In
the event of Debtor’s default hereunder, interest on amounts
past due pursuant to this Note shall be paid at a rate of eighteen
percent (18%) per annum. Interest shall be computed on the basis of
a 360-day year. On or prior to October 3, 2008 Debtor shall
use its bes
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