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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:

2000

Size:

Preview shows 6KB of 77KB total

Price:

$53

ID:

#1516633

 

 

► Plans ► Agreements ► Agreements & Plans of Reorganization

 

 

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<SEQUENCE>2

<FILENAME>0002.txt
<DESCRIPTION>AGREEMENT AND 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.

B. 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


<PAGE>

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, 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

 

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