EXHIBIT 10.75 TIMECAPITAL SECURITIES CORPORATION ONE ROOSEVELT AVENUE PORT JEFFERSON STATION, NEW YORK 11776 PHONE (516) 331-1400 FAX (516) 331-1407 June 28, 1996 Nova Technologies, Inc. 89 Cabot Court, Unit L Hauppauge, New York 11788 Attn: Stephen M. Fisher President Dear Sirs: We are parties to two recently executed agreements with respect to our performing certain investment banking services on behalf of Nova Technologies, Inc. ("Nova") the agreement dated April 19, 1996 engaging TimeCapital Securities Corporation ("TimeCapital") as Nova's exclusive, private placement agent (the "Placement Agreement") and the agreement engaging TimeCapital as Nova's exclusive agent to arrange for an underwriter (the "Underwriter Agreement"). Both the Placement Agreement and the Underwriter Agreement were amended by executed agreements dated April 26, 1996 (the "April Amendment") and dated May 21, 1996 (the "May Amendment"), respectively. All of the foregoing are referred to herein collectively as the "Agreements." The Agreements contemplated the completion of a private placement of 500,000 shares of Nova's Common Stock at $2.00 per share and provided Nova with certain rights if such event did not occur within the agreed time. We hereby agree that the Agreements be and hereby are further amended (i) to further extend the initial period in which TimeCapital shall have the exclusive right to effect a private placement of Nova's Capital Stock from June 30, 1996 to and including July 19, 1996 and (ii) to provide that the proposed transaction may be modified to such number of shares of Nova Common Stock at such price as the parties shall agree that shall result in gross proceeds of $1,000,000. Please confirm the foregoing amendments by executing the counterpart of this letter and returning it to TimeCapital. Very truly yours, ACCEPTED AND AGREED TO: TimeCapital Securities Corporation By: /s/ Richard G. Rohman _______________________________ Richard G. Rohman Vice President ACCEPTED AND AGREED TO: Nova Technologies, Inc. By: /s/ Stephen M. Fisher _______________________________ Stephen M. Fisher President