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Agreement and Plan of Reorganization

 

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Title:

Agreement and Plan of Reorganization

Entities:

Jupiter Global Holdings Corp

Date:

2001

Size:

Preview shows 6KB of 75KB total

Price:

$56

ID:

#1516619

 

 

► Plans ► Agreements ► Agreements & Plans of Reorganization

 

 

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<SEQUENCE>3

<FILENAME>pdm111b.txt
<DESCRIPTION>AGREEMENT/PLAN OF REORGANIZATION
<TEXT>



AGREEMENT AND PLAN OF REORGANIZATION

by and among

United Management, Inc.
a Nevada corporation



and



RRUN Ventures Inc.
a Nevada corporation






Effective as of December 18, 2000
<PAGE>
AGREEMENT AND PLAN OF REORGANIZATION

THIS AGREEMENT AND PLAN OF REORGANIZATION (this "Agreement") is made and
entered into this 18th day of December, 2000, by and between United Management,
Inc., a Nevada corporation ("UM"), and RRUN Ventures Inc., a Nevada corporation,
("RRUN").

Premises

A. This Agreement provides for the reorganization of RRUN with and into UM,
with the surviving entity adopting the name RRUN Ventures Inc., and in
connection therewith, the exchange of the outstanding common stock of RRUN for
shares of common voting stock of UM, all for the purpose of effecting a tax-free
reorganization pursuant to sections 354 and 368(a) of the Internal Revenue Code
of 1986, as amended.

The boards of directors of UM and RRUN have determined, subject to the
terms and conditions set forth in this Agreement, that the exchange contemplated
hereby, as a result of which UM and RRUN will become one entity, is desirable
and in the best interests of their stockholders. This Agreement is being entered
into for the purpose of setting forth the terms and conditions of the proposed
exchange.

Agreement

NOW, THEREFORE, on the stated premises and for and in consideration of the
mutual covenants and agreements hereinafter set forth and the mutual benefits to
the parties to be derived herefrom, it is hereby agreed as follows:

ARTICLE I
REPRESENTATIONS, COVENANTS AND WARRANTIES OF RRUN

As an inducement to and to obtain the reliance of UM, RRUN represents and
warrants as follows:

Section 1.1 Organization. RRUN is a corporation duly organized, validly
existing, and in good standing under the laws of the State of Nevada and has the
corporate power and is duly authorized, qualified, franchised and licensed under
all applicable laws, regulations, ordinances and orders of public authorities to
own all of its properties and assets and to carry on its business in all
material respects as it is now being conducted, including qualification to do
business as a foreign corporation in the jurisdiction in which the character and
location of the assets owned by it or the nature of the business transacted by
it requires qualification. Included in the RRUN Schedules (as hereinafter
defined) are complete and correct copies of the articles of incorporation,
bylaws and amendments thereto of RRUN as in effect on the date hereof. The
execution and delivery of this Agreement do not and the consummation of the
transactions contemplated by this Agreement in accordance with the terms hereof
will not violate any provision of RRUN's articles of incorporation or bylaws.
RRUN has full power,

<PAGE>

authority and legal right and has taken all action required by law, its articles
of incorporation, its bylaws or otherwise to authorize the execution and
delivery of this Agreement.

Section 1.2 Capitalization. The authorized capitalization of RRUN consists
of 25,000,000 common shares, par value $0.001 per share. All issued and
outstanding shares are legally issued, fully paid and nonassessable and are not
issued in violation of the preemptive or other rights of any person. RRUN has no
other securities, warrants or options authorized or issued other than as set
forth in the RRUN Schedules.

Section 1.3 Subsidiaries and Predecessor Corporations. Except as otherwise
set forth in the RRUN Schedules or as previously provided to UM, RRUN does not
have any other subsidiaries and does not own, beneficially or of record, any
shares of any other corporation.

Section 1.4 Financial Statements. Included in the RRUN Schedules is RRUN's
audited financial statements (including any predecessor companies) including a
balance sheet, statement of operations, shareholder equity and cash flows and
notes thereto, dated as of November 15, 2000. Relevant thereto:

(a) the RRUN balance sheet presents fairly as of its date the
financial condition of RRUN and RRUN does not have, as of the date of such
balance sheet, except as noted and to the extent reflected or reserved
against therein, any liabilities or obligations (absolute or contingent)
which should be reflected in a balance sheet or the notes thereto and all
material assets reflected therein are properly reported and present fairly

 

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