Exhibit 4.7
innovative
software
technologies
December 31, 2001
Iwasaka Investments Limited
11 Duddel Street, 12th Floor
Central, Hong Kong
Dear Sir:
RE: Amendment to Finance Agreement Dated January 25, 2001
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We are requesting approval for issuance of 350,000 shares of INIV Series A
Preferred Stock and 700,000 shares of INIV Common Stock in exchange for all
shares of INIV Common Stock previously issued to Iwasaka Investments, Limited.
The dollar amount invested was $700,000 as of December 31, 2001.
The 350,000 shares of INIV Series A Preferred Stock will be issued to Glendower
Holdings, Ltd, 36 Hilgrove Street, St. Helier, Jersey JE4 8TR, Channel Islands,
additionally the 700,000 shares of INIV Common Stock will be issued to Ripley
Associates Limited, Level 23, CD Tower, 313 Silom Road, Bangkok, 10500 Thailand
as you have requested.
The remaining capital to be invested in Innovative Software Technologies, Inc.
will be at a conversion price of $.50 per share.
In addition we are requesting the approval of the issuance of 3,529,412 INIV
Common shares and 1,500,000 Shares of Series A Preferred for the acquisition of
Energy Professional Marketing Group, Inc. As of December 31, 2001, Douglas Shane
Hackett CEO has converted $248,490.50 to 248,491 shares of INIV Series A
Preferred shares.
Enclosed you will find a copy of the Board of Directors Consent and the letter
to the transfer agent for the issuance of the stock for your review. Please sign
the line below and forward to us at the above address.
Thank you for your cooperation in this matter. If you have any questions on this
please call me at 1-816-584-8030.
Sincerely,
/s/ Douglas Shane Hackett
Douglas Shane Hackett
President
Accepted and agreed to by /s/ M. Yussuf CONFIDENTIAL TREATMENT
------------------------ REQUESTED BY INNOVATIVE
Iwasaka Investments Limited SOFTWARE TECHNOLOGIES, INC.
112 N.W. Parkway
Riverside, MO 64150
816-584-8030 voice
816-584-0324 fax
www.ist-co.com