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EXHIBIT 10.1
 
 
March 26, 2014

Mr. Ronald Downey
Wunderkind Group Pty Ltd
Level 2, 113-115 Oxford St.
Darlinghurst, NSW 2010
Australia

Re: Binding Letter of Intent to acquire a stake in Wunderkind Group Pty. Ltd.
 
Dear Mr. Downey

 
Massive Interactive (“Massive”) is pleased to present the following binding
Letter of Intent (“LOI”) to purchase directly, or through an affiliate (the
“Transaction”), a majority stake in Wunderkind, Group Pty Ltd (“Wunderkind” or
the “Company”).  The principal terms of the proposed transaction are as follows:
 
 
I.
Purchase Price: Massive intends to purchase Wunderkind through an exchange of
all the shares of Wunderkind for a convertible note issued by Massive. The note
will have a face value of $5.5 million and will be convertible into 45% of the
total shares issued and outstanding of Massive on a fully diluted post
transaction basis.

 
 
II.
Convertible Note: Interest will be payable upon the earlier of maturity or
conversion only.

 
 
III.
Term: 1 year

 
 
IV.
Additional Diligence: Massive intends to complete a financial, legal and
business review of the Company, which will be limited to no longer than 20 days
from the date of the execution of this binding LOI.

 
 
V.
Binding Effect: Both Massive and Wunderkind agree that the terms of this
agreement are binding and in full effect upon execution. Therefore, this LOI is
intended to be and will create a legally binding obligation for both parties.
However, said binding effect is agreed to no longer be enforceable upon
discovery of any material non-disclosed public information or event that is
discovered during the course of due diligence.

 
 
VI.
Timing: As stated above, Massive intends to be but is not obligated to conduct
and complete due diligence by April 26, 2014 or by a date mutually agreed upon
by Massive and Wunderkind.

 

 
VII.
Approvals and Additional Conditions: Buyers view the due diligence process to be
a confirmatory process and not one to be used to renegotiate the price. However,
as a condition of closing this transaction, Massive requires that the following

 
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a.)
The approval and consent of Massive’s majority shareholder Southport Lane
Management LLC (“Southport”) as evidenced by a valid and authorized signatory of
Southport executing this LOI below, and

 
 
b.)
The approval and consent of the Board of Directors of Massive.

 
 
c.)
The approval and consent of the Board of Directors of Wunderkind.

 
Massive is very enthusiastic about the opportunity to pursue the proposed
Transaction and are prepared to commence due diligence as soon as possible. We
look forward to the Company’s response to our proposal, and we hope that this
LOI adequately expresses our serious intention to complete the Transaction,
subject to such due diligence and other closing conditions.
 
Please feel free to contact me with any questions you might have regarding this
IOI.
 

 
Sincerely,
 
MASSIVE INTERACTIVE INC

/s/ Antaine Furlong

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By: Antaine Furlong
Its: CFO, Director
Date: 26.03.2014

AGREED AND ACCEPTED
WUNDERKIND GROUP PTY LTD

/s/ Monique Ellis

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By:  Monique Ellis
Its: MP, Director
Date: 26.03.2014

AGREED AND ACCEPTED
SOUTHPORT LANE MANAGEMENT LLC

/s/ Andrew Sherr

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By: Andrew Sherr
Its: Authorized Signatory
Date: March 26, 2014
 
 
 
 
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