exhibit107.htm - Generated by SEC Publisher for SEC Filing



  





 


CANCELLATION OF PROMISSORY NOTE



 


This Cancellation of Promissory Note ("Cancellation Agreement") is entered into August 11, 2014, between San Lotus Holding Inc. ("SLH") and Lo, Fun-Ming, Yu, Chien-Yang, and Mao Ren International Inc. (the "Land Sellers").


 


R E C I T A L S


 


A.      WHEREAS, SLH assumed a certain Promissory Note dated as of ugust 11, 2014 and originally held by Green Forest Management Consulting Inc. in the original principal amount of Three Billion Three Hundred Sixty Nine Million Three Hundred Three Thousand Six Hundred Ninety Three New Taiwan Dollars (TWD $3,369,303,693), in favor of the Land Sellers (the "Note");


 


B.      WHEREAS, the Land Sellers used the funds owed under the Note to subscribe to shares of SLH common stock, which stock was distributed pursuant to the instructions of the Land Sellers as indicated on Schedule A attached hereto;


 


C.      WHEREAS, the parties hereto agree that there are no obligations outstanding among the parties whatsoever relating to the Note; and


 


D.      NOW, THEREFORE, the parties hereto desire to cancel the Note.


 


A G R E E M E N T


 


The Note is hereby terminated and cancelled and is of no further force and effect. The Land Sellers hereby agree to promptly return the Note to SLH.


 


IN WITNESS WHEREOF, the parties hereto have executed this Cancellation Agreement.


 


 


San Lotus Holding Inc. 


 


                                                                                                  /s/ Lo, Fun-Ming                     


By: /s/ Chen, Li Hsing                                                                                 Lo, Fun-Ming


         Chen, Li Hsing 


Chairman of the Board


 


                                                                                                                  /s/ Yu, Chien-Yang                 


 Yu, Chien-Yang


Green Forest Management Consulting Inc.


 


 


                                                                                                                 Mao Ren International Inc


By:  /s/ Chiang, Yu-Chang               


             Chiang, Yu-Chang 


             Director                                                                             By:  /s/ Chen, Kuan-Yu                  


Chen, Kuan-Yu


Chairman of Board


Mao Ren International Inc.


No. 121 Songzhu North Rd., 


Beitun Dist., Taichung City, Taiwan (R.O.C.) 




1


 









 


  





 


 Schedule A


PURCHASER LIST


 


 





	

    
	

   Purchaser
	

    
	

   Purchase Amount(TWD)
	

    
	

   Purchase Amount(USD)
	

    
	

   Purchasing Shares

	

   1
	

   LO, FUN MING
	

    
	

   $1,917,695,123
	

    
	

   $63,508,250.20
	

    
	

   226,491,620

	

   2
	

   DENG DONG LTD
	

    
	

   $415,138,026
	

    
	

   $13,748,113.20
	

    
	

   49,030,361

	

   3
	

   HUANG, HUANG-CHANG
	

    
	

   $373,866
	

    
	

   $12,381.30
	

    
	

   44,156

	

   4
	

   LAI, YUEH-ER
	

    
	

   $560,800
	

    
	

   $18,572.00
	

    
	

   66,234

	

   5
	

   KAO, YU-TSAI
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   6
	

   HUANG, CHIN-CHUNG
	

    
	

   $592,687
	

    
	

   $19,628.00
	

    
	

   70,000

	

   7
	

   LAI, FU-HSIUNG
	

    
	

   $70,097
	

    
	

   $2,321.40
	

    
	

   8,279

	

   8
	

   LIAO, PO-CHAN
	

    
	

   $70,097
	

    
	

   $2,321.40
	

    
	

   8,279

	

   9
	

   HUANG, CHIN-YEN
	

    
	

   $8,467
	

    
	

   $280.40
	

    
	

   1,000

	

   10
	

   LIU, CHIUNG-YANG
	

    
	

   $5,647
	

    
	

   $187.00
	

    
	

   667

	

   11
	

   TING, YI-PING
	

    
	

   $8,467
	

    
	

   $280.40
	

    
	

   1,000

	

   12
	

   Ocean Reserve Ltd.
	

    
	

   $514,675,218
	

    
	

   $17,044,483.30
	

    
	

   60,786,317

	

   13
	

   YU, CHIEN-YANG
	

    
	

   $50,487,881
	

    
	

   $1,672,005.60
	

    
	

   5,962,930

	

   14
	

   Da Chuang Business Management Consultant Co., Ltd
	

    
	

   $2,804,004
	

    
	

   $92,860.10
	

    
	

   331,170

	

   15
	

   UHAO LTD.
	

    
	

   $10,960,502
	

    
	

   $362,978.60
	

    
	

   1,294,503

	

   16
	

   CHEN, MING-CHU
	

    
	

   $535,873
	

    
	

   $17,746.50
	

    
	

   63,290

	

   17
	

   Joyful Wealth Co., Ltd.
	

    
	

   $2,747,927
	

    
	

   $91,003.00
	

    
	

   324,547

	

   18
	

   LI, CHINE-LIN
	

    
	

   $58,668
	

    
	

   $1,942.90
	

    
	

   6,929

	

   19
	

   HSIEH, JUNG-MAO
	

    
	

   $169,339
	

    
	

   $5,608.00
	

    
	

   20,000

	

   20
	

   CHANG, TA-CHING
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   21
	

   CHAN, CHUN-FENG
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   22
	

   CHANG, CHIA-CHEN
	

    
	

   $127,004
	

    
	

   $4,206.00
	

    
	

   15,000

	

   23
	

   CHIU, CHAO-MING
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   24
	

   WANG, HSIN-PING
	

    
	

   $55,035
	

    
	

   $1,822.60
	

    
	

   6,500

	

   25
	

   Fuxin Ltd.
	

    
	

   $55,035
	

    
	

   $1,822.60
	

    
	

   6,500

	

   26
	

   KUO, MAN-YU
	

    
	

   $16,934
	

    
	

   $560.80
	

    
	

   2,000

	

   27
	

   HUANG LIU, HSIU-MEI
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   28
	

   CHANG, JUEI-FENG
	

    
	

   $84,670
	

    
	

   $2,804.00
	

    
	

   10,000

	

   29
	

   BABAIYI LTD
	

    
	

   $161,280
	

    
	

   $5,341.10
	

    
	

   19,048

	

   30
	

   CHU,CHE-TZU
	

    
	

   $279,410
	

    
	

   $9,253.20
	

    
	

   33,000

	

   31
	

   Daphne Chen Ltd.
	

    
	

   $42,426,878
	

    
	

   $1,405,049.60
	

    
	

   5,010,876

	

   32
	

   Rocky Yu Ltd.
	

    
	

   $42,426,878
	

    
	

   $1,405,049.60
	

    
	

   5,010,876

	

   33
	

   Jackson Yu Ltd.
	

    
	

   $42,426,878
	

    
	

   $1,405,049.60
	

    
	

   5,010,876

	

   34
	

   Dennis Yu Ltd.
	

    
	

   $42,426,878
	

    
	

   $1,405,049.60
	

    
	

   5,010,876

	

   35
	

   Gu Gu Gu Ltd.
	

    
	

   $21,213,439
	

    
	

   $702,524.80
	

    
	

   2,505,438

	

   36
	

   Nan Fang Ltd.
	

    
	

   $42,122,067
	

    
	

   $1,394,955.20
	

    
	

   4,974,876

	

   37
	

   New Bela Ltd.
	

    
	

   $6,517,028
	

    
	

   $215,824.20
	

    
	

   769,701

	

   38
	

   Edwin Kwong
	

    
	

   $846,696
	

    
	

   $2,804
	

    
	

   100,000

	

    
	

   Total
	

    
	

   $3,369,303,693 
	

    
	

   $111,581,126.30 
	

    
	

   397,935,544