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Document Preview Reorganization Agreement |
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Title: |
Reorganization Agreement |
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Entities: |
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Date: |
2003 |
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Size: |
Preview shows 5KB of 27KB total |
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Price: |
$33 |
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ID: |
#1460649 |
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REORGANIZATION AGREEMENT
This Reorganization Agreement is made and entered into this
31st day of December, 2001, between and among Alpha Generation, Inc.,
a Texas corporation, which is refereed to hereing as the "Company",
Trinidad corporation, a Colorado corporation, which is referred to
herein as Trinidad, and the persons identified in Exhibit A attached
hereto, who are the beneficial owners of 100% of the issued and
outstanding equity securites of "Trinidad (the "Shareholders").
WHEREAS, the Shareholders own, and have the unrestricted
right to sell, Transfer and convey, one hundred (100%) of the issued
and outstanding Stock of Trinidad, and
WHEREAS, the company wishes to acquare one hundred percent (100%)
of the issued and outstanding stock of Trinidad in exchange for authorized
but unissued shares of Common Stock of the Company, and
WHEREAS, the Shareholders of the Company have previously
approved, subject only to the closing of the Reorganization Agreement,
a one for one issuance of Company Shares whih has positioned the
Company to complete the transactions contemplated by this Agreement, and
WHEREAS, the Shareholders have agreed to contribute one hundred
percent of the issued and outstanding stock of Trinidad Corporation to the
Company in exchange for authorized but unissued Common Stock of the
Company, and
WHEREAS, the Company and the shareholders wish to formalize the
above mentioned Agreement and thereafter accomplish such exchange on the
terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants hereinafter set forth, the parties hereto have agreed and by
these presents do hereby agere as follows:
1. REPRESENATIONS AND WARRANTIES BY THE SHAREHOLDERS AND TRINIDAD.
We hereby jointly and severally make the following express
Representations and Warranties to the Company:
A) TRINIDAD is a corporation duly organized under the laws of the
State of Colorado, has the corporate power to own its property and
carry on its business in the State of Colorado. Certified copies
of Trinidad's Certificate of Incorporation and By-laws have
heretofore been furnished to the Company by Trinidad and for
the Shareholders, and all such copies are true, complete and
correct copies of the Original Certificate of Incorporation and
By-laws, including all amendments thereto.
B) Trinidad has the complete authority to issue a total of
100,000,000 Shares of No-Par common Stock, of which 6,420,473
shares have been validly issued, are now outstanding and are held
of record by the Shareholders identified in Exhibit A, Schedule A-1.
C) The Shareholders will have full power and authority to exchange
the 6,420,473 shares of Common Stock whicha re held by them upon the
terms and conditions provided for in this Agreement, and said shares
will have been duly and validly issued and free and clear of any lien
or any other encumbrance on the Closing Date specified herein.
D) The unaudited November 1, 2001, Financial Statements of Trinidad
which have been compiled by Clyde Bailey, CPA, and are attached as
an Exhibit hereto, constitute substantially true and correct statements
of the financial condition of Trinidad's Assets and Liabilities as of
such date. Except as described in the notes to such financial statements,
Trinidad has not:
1)issued any additional shares of its capital stock, or any options to
acquire such stock, to any person
2)paid or declared any dividens or distribution of capital, surplus, or
profits with respect to any of it issued and outstanding capital stock,
3)paid or agreed to pay any consideration is redemption of any of its
issued and outstanding shares of capital stock,
4)entered into any other transaction or agreements which would, or
might materially impair the shareholders equity of Trinidad reflected
in such financial statements.
E) Since November 1, 2001, Trinidad has not engaged in any material
transactions other than transactions in the normal course of its business
which would, or might, materially impair the shareholders equity of
Trinidad as reflected in the financial statements herein attached.
F) Trinidad is not involved in any pending or threatened litigation
which would or might materially affect its financial condition, and
which has not been:
1)provided for in the financial statements attached as an exhibit,
2)disclosed to the Company in writing.
G) Trinidad has good and marketable title to all the property and assets
shown in its balance sheet free and clear of any and all liens,
encumbrances, or restrictions, except for:
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