Exhibit 10.21

**Assignment of Sales Contract**

 

Assignment Contract Number: RLES-GDI-TF001(R)

 

This Assignment Contract is made as of the 16th Day of June, 2005.

 
| Seller | : | **Tomi Fuji Energy Management Services Consultants Ltd** |  
Address

:  

16/F., Hang Seng Mongkok Building, No.677 Nathan Road, Mongkok, Kowloon,

 
Hong Kong

 
Contact

:

Carrie Cheng

 
 

Buyer

:

**GD Inet Electric Construction Co. Ltd.**

 
Address

:

21/F, Yin Hua Bldg, 3 Xin Gang Xi Rd, Guangzhou, China. PC:510260.

Contact

:

Winson Liang

 
 

Both parties agree on the terms and conditions of this Assignment Contract as follows: 

 

1.  Assigned Contract Number: RLES-GEO-TF001 (See Appendix 1)

 

The Buyer is willing to purchase all of the rights, including the responsibility and related risks      of Sales Contract RLES-GEO-TF001 from the Seller.

 

2.  Assigned Contract Price: RLES-GEO-TF001 

 

The Buyer is willing to buy and the Seller is willing to sell Sales Contract RLES-GEO-TF001       at an agreed price of USD 800,000.

 

3.  Warranty, Maintenance and Installation

 

The Buyer will assume all responsibilities, including all warranties, maintenance and    installations as stated in Sales Contract RLES-GEO-TF001.  All sales proceeds from     Geopower Corporation as stated in Sales Contract RLES-GEO-TF001 will be to the Buyer’s         account.

 

 

4.  

Assignment Contract Payment Terms

 

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

 

 

1st Installment: USD 240,000, equivalent to 30% of the assignment contract amount, to be        payable within 60 days upon signing of this agreement.  The tentative due date will be August 15, 2005.

 

2nd Installment: Balance of USD 560,000 to be payable within 90 days of the signing of this       agreement.  The tentative due date will be September 15, 2005.

 

 

**Seller: Tomi Fuji Energy Management Services Consultants Ltd**

 

 

 

/s/ Carrie Cheng 

 

**Contact: Carrie Cheng**

 

 

 

 

**Buyer: GD Inet Electric Construction Co. Ltd.**

 

 

/s/ Winson Lian

 

**Contact: Winson Liang**

 

 

 

 

 

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

 

**APPENDIX 1**

 

**Sales Contract**

 

Contract Number: RLES-GEO-TF001

 

This Contract is made on the 8th day of June, 2005.

 

Seller

:

**Tomi Fuji Energy Management Services Consultants Ltd**

 
Address

:  

16/F., Hang Seng Mongkok Building, No.677 Nathan Road, Mongkok, Kowloon,

 
Hong Kong

 
Contact

:

Carrie Cheng

 
 

Buyer

:

**Geopower Corporation**

 
Address

:

Lanmark Tower 1, Room 608, 8 North Dongsanhuan Road, Beijing 100004 China

Contact

:

W. L. Lau, Tony

 
Copy To

:

G. Y. Lin

 
 

Both parties hereby agree to the terms and conditions of this Sales Contract as follows:  

 

1.  

Sales

 

The Buyer agrees to buy from the Seller the first batch of 100 units of Streetlight Savers,

details are:

 
 

Model

Voltage

# of Units

Unit Price (USD)

**Total Contract Amount (USD)******

TF

380V

200台

20,000

**$ 4,000,000******

 

2.  Installation Province

 

Seven cities in Shanxi Province (Taiyuan, Jinzhong, Jincheng, Changzhi, Datong, Yangqian,     Suzhou).

 

3.  Installation Timeframe

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

 

 

The project will be in 2 phases. Each phase will install approximately 100 units of Streetlight    Savers, expected to be completed in 30 days. See Appendix 1.

 

4.  Quality of Streetlight Savers

 

The Streetlight Savers will produce an average of 25% savings in electricity consumption.

 

5.  Warranty and Maintenance

 

The Seller warrants to the Buyer that the Warranty Card covers:

 

5.1   Within the 5-year Warranty period, any mechanical defects on the Streetlight Savers under normal operation, the Seller will repair or exchange the defected Streetlight Saver(s) free of charge once the defect is confirmed by the Seller’s technical personnel. 

 

5.2   Within the 5-year Warranty Period, the Seller's technical personnel will provide regular    on-site inspection of all of the installed Streetlight Savers purchased by the Buyer. 

 

6.  Installation

 

The Seller will appoint technical expertise during installation and calibration of the Streetlight    Savers. During Installation of the Streetlight Savers and linking up with main circuits, all raw materials, tools and technical details will be provided by the Seller, which includes: 

 

A.  Installation of a solid footing foundation for each Streetlight Saver on the actual site;

B.  Linking up the Streetlight Savers with the city’s capacitor;

 
C.  Calibration of the Streetlight Savers and preparation of a savings report; and

 
D.  Installation of earth wiring.

 
 

7.  Payment Terms

 

7.1  Payment Term 1: USD 2,000,000, which is equivalent to 50% of the total contact amount,   is payable within 5 working days upon delivery of Streetlight Savers to designated locations. The expected delivery time is mid-October, 2005.

 

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

 

7.2  Payment Term 2: USD 1,200,000, which is equivalent to 30% of the total contact amount,   is payable within 5 working days upon completion of the 1st phase (100 units) installation and calibration of Streetlight Savers in designated locations. The expected installation date is by the end of October, 2005.

 

7.3  Payment Term 3: USD 800,000, which is equivalent to 20% of the total contact amount, is    payable within one month upon completion of the 2nd phase (100 units) installation and calibration of Streetlight Savers in designated locations. The expected installation date is November, 2005.

 

8.  Delivery Schedule

 

Upon signing of this agreement, the delivery is as according to attached Appendix 1.

 

 

 

**Seller: Tomi Fuji Energy Management Services Consultants Ltd**

 

 

 

/s/ Carrie Cheng

 

**Contact: Carrie Cheng**

 

 

 

**Buyer: Geopower Corporation**

 

 

/s/ W.L. Lau, Tony

 
**Contact: W. L. Lau, Tony**

 

 

 

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

 

**Appendix 1**

 

 

First Phase of 100 units of Streetlight Savers estimated to be delivered by mid-October, 2005.

 

Second Phase of the remaining 100 units of Streetlight Savers estimated to be delivered by the end of October 2005.

 

Total of 200 Units of Streetlight Savers.

 

 

 

**亞太區總部**

**中國總部**

 
香港九龍旺角彌敦道677號

中國深圳市福田區福虹路世貿廣場B座26及27樓M室

恒生旺角大廈16樓全層

郵編: 518033

 
電話:(852) 2432 0170

電話:(86) 755 83003551

 
傳真:(852) 2578 5600

傳真:(86) 755 83679907

 
 

 

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