Document:

ex-10_9.htm

Dwarf Technology Holdings, Inc. S-1/A

Exhibit 10.9

 

LISTING AGREEMENT

March 20, 2011

Party A:     Dwarf Technology Holdings, Inc., an Arizona Corporation

Party B:      EastBridge Investment Group Corp., an Arizona Corporation

Party C:       Ye Xizhen, an individual resident of the People’s Republic of China

Article 1 – Listing Service

Party B agrees to assist Party A to become a public filer under the rules of the US Securities and Exchange Commission.  This will include arranging for the stock of Party A to be listed on the OTCBB stock market; thereafter, in a few months or a year, when Party A’s net income exceeds RMB 25 million, Party B shall assist Party A in arranging for its stock to be listed on NASDAQ or New York Stock Exchange or AMEX stock market.

Article 2 – Authority and Preconditions

	
1.  

	
 Party B’s authority includes consultations, negotiations involved in the listing, and the handling of relevant formalities; Party B shall have the right to decide how to list on a U.S. market for Party A, in any legal manner conforming to U.S. laws and relevant regulations thereof.

Before Party B starts the listing services, Party A must meet the following prerequisites:

a  Party A shall cause Hangzhou Dwarf Technology Ltd. (China Dwarf) to provide financial reports of 2008, 2009 and 2010 that are prepared by a Certified Public Accountant     

b  Party A shall cause China Dwarf to provide quarterly financial reports by a   Certified Public Accountant every quarter starting from this quarter (fourth quarter financial report will be the annual financial report).

Article 3 – Terms and Conditions

Party B shall assist Party A to go public in nine months upon Party A’s fulfillment of the following and its successful completion of an SEC audit and reporting.   

	
1.  

	
 Successful completion of an SEC audit of its 2009 and 2010 financials in accordance with the US  GAAS (Generally Accepted Auditing Standards) and GAAP (Generally Accepted Accounting Principles).  Party A guarantees the net income of 2009 and 2010 according to the SEC audit will not be less than (            ) and (            ), respectively.  However, a margin of 20% is allowed.

	
2.  

	
China Dwarf is free from material law suits or scandals, etc., which are detrimental to the intangible assets of Party A.

	
3.  

	
China Dwarf shall complete a business plan in both Chinese and English within 60 days upon the signing of this agreement.

	
4.  

	
China Dwarf shall complete a web site for listing purposes within 30 days upon the signing of this agreement.

 

 

8040 E. Morgan Trail, Suite 18, Scottsdale, Arizona, 85258 USA Tel: 480 966 2020, Fax: 480 966 0808

  

  

 

Article 4 – Party A’s and China Dwarf’s Protection of Party B’s Interest

	
1.  

	
 Party B agrees to bear the following expenses for the listing of Dwarf:

	
a.  

	
 Legal consulting expenses;

	
b.  

	
Consulting expenses for the share structure planning of the holding company;

	
c.  

	
Expenses to conduct a SEC audit for the fiscal year 2009 and 2010;

	
d.  

	
SEC corporate finance pre-audit consultancy fee;

	
e.  

	
SEC related application fees, road show (Party A shall bear its own traveling expenses) and investor relations fee;

	
f.  

	
Consulting expenses for business lan and company web site for investors;

	
g.  

	
Consulting expenses for share equity planning

	
h.  

	
Registration expenses for the initial SEC clearance and stock certificate printing;

	
i.  

	
Misc. market maker fees, and issuance of stock;

	
j.  

	
Consulting fees for acquisitions, share capital and stock loans.

Article 5 – U.S., People’s Republic of China and Hong Kong Laws

Party A, Party B and Party C agree to abide by the laws of the United States of America (U.S.A.), People’s Republic of China and Hong Kong.

Article 6 – Listing Fees and Manner of Payment

Party A agrees to issue 3,000,000 shares of its common stock to Party B and 3,000,000 shares of its common stock to Party C.

The listing fee totals RMB 2 million in cash payment.  Party C agrees to pay to Party B RMB 500,000 as the first part of the listing fee, as follows:  RMB 200,000 will be paid upon the signing of this agreement; RMB 200,000 will be paid  when the audit begins; and RMB 100,000 will be paid when the audit has been completed and submitted to the SEC.

The remaining RMB 1.5 million will be paid from the capital raise.  The RMB will be converted to US dollars and wired to EastBridge’s bank account in the U.S.

Article 7 – Stock Transfer

Party A, Party B and Party C agree that Party B shall be allowed to transfer, at its discretion, or sell to any third party its shares of Party A held by Party B in any manner it chooses after the listing of Party A has been obtained from the SEC.

Article 8 – Treatment of Cash Fee and Stock Equity for Failure of Listing

When this agreement becomes effective:

	
1.  

	
 If Dwarf fails to start or complete the audit or complete the listing process, and either of those failures is caused by Party A or by China Dwarf, Party A agrees that the cash payment paid to Party B is considered earned and not refundable.

	
2.  

	
If Party A fails to be listed on the main board, and that failure is caused by Party B, Party B agrees to refund its cash payment to Party A within 3 days after Party B receives a written notification.

	
3.  

	
If for any reason or for no reason, China Dwarf fails to be listed, Party A agrees not to list, and will cause China Dwarf not to be so listed, in any manner its shares in any stock market of the world within a year after the termination of this agreement.  Otherwise, Party A has to compensate Party B, or will cause Dwarf to so compensate, Party B for the loss.

	
4.  

	
Party A agrees to provide advance notice of no less than 30 days to Party B to stop the listing effort.

 

 

8040 E. Morgan Trail, Suite 18, Scottsdale, Arizona, 85258 USA Tel: 480 966 2020, Fax: 480 966 0808

  

  

 

Article 9 – Consent to Invitation

Prior to the listing, in  order for Party B to make efficient introductions of China Dwarf to the U.S. investors and the stock market, Party A agrees and will cause China Dwarf to update Party B in a timely manner of its new business developments in order for Party B to understand more of Party A’s and China Dwarf’s business operation.

Article 10 – Confidentiality

Party A, Party B and Party C shall be liable for actively maintaining the confidentiality of the business secret of the other party including the terms of this agreement.

Article 11 – Applicable Law

Execution and interpretation o this Contract shall be governed by the laws of the People’s Republic of China and Hong Kong.

Article 12 – Dispute Settlement

For all disputes and differences relevant hereto or arising from performance hereof, the Parties shall first try to settle them through friendly consultation.  If no agreement is reached within 30 days of the date of the occurrence of the dispute or difference, either party may submit the dispute to Hong Kong International Arbitration Center for arbitration in accordance the then applicable arbitration rules.  The arbitration award shall be final and binding on both parties.

Article 13 – Entire Agreement

This Agreement shall be the final and complete contract between the parties, and shall supersede all previous agreements between the parties, oral or written.

Article 14 – Miscellaneous

If this agreement has versions of more than one language, the Chinese version shall govern in case of dispute or inconsistency between them.

Article 15- Effectiveness and Modification

This agreement shall become effective as of the date when it is signed by all parties.  The parties may modify or supplement this agreement in writing, and written modification of supplementation to this agreement signed by the parties shall be an integral part hereof, and shall have the same legal effect as this contract.

Article 16-Duplicates

This agreement shall be served in four copies, with each party holding two, each with the same legal effect.

8040 E. Morgan Trail, Suite 18, Scottsdale, Arizona, 85258 USA Tel: 480 966 2020, Fax: 480 966 0808

  

  

  

 

	
Party A (signature): 

	Party B (signature):  
	  	  
	 	 
	Authorized representative name, 	Authorized representative name, 
	 	 
	

Zhang Mainfu 

	Keith Wong  
	Title: Chairman 	Title: Chairman  

	
Party C (signature): 

	 
	 	 
	 	 
	 	 
	 	 
	

Mr. Ye Xizhen

	 

 

 

8040 E. Morgan Trail, Suite 18, Scottsdale, Arizona, 85258 USA Tel: 480 966 2020, Fax: 480 966 0808ex-10_10.htm

Dwarf Technology Inc.- S-1/A

Exhibit 10.10

 

LOAN AGREEMENT

This loan agreement (“Agreement”) is made and entered into effective the 1st day July 2012 by and between Mianfu Zhang (“Borrower”) and Hangzhou Dwarf Technology Co Ltd. (“Company”).

*W I T N E S E T H *

WHEREAS, for purposes of this Agreement, the term “Company” includes,  Hangzhou Dwarf Enterprise Management Co., Ltd., a wholly foreign owned enterprise incorporated under the laws of the People’s Republic of China  and Dwarf Technology Holdings, Inc. incorporated under the laws of Arizona.

WHEREAS, Borrower is the founder of the Company,

WHEREAS, Borrower, from time to time, has received loans from the Company and as of the date hereof, the total amount of outstanding loans to Borrower is $8,999,298 (“Outstanding Loan Amount”),

WHEREAS, Borrower acknowledges that (i) the Company has filed its Form S-1 Registration Statement with the United States Securities and Exchange Commission, and as a result of that filing, the Company is subject to the Sarbanes-Oxley Act of 2002 (“Sarbanes Act”), and (ii) the Sarbanes Act prohibits loans and borrowings by the Borrower from the Company, among other terms and conditions.

WHEREAS, the parties by this agreement desire to document the Outstanding Loan Amount and to establish certain other terms and conditions as stated herein, including the covenant and agreement of Borrower to refrain from any future borrowings from the Company.

NOW THEREFORE, in consideration of the mutual covenants, terms and conditions contained herein, the parties do hereby covenant, warrant and agree as follows:

ARTICLE I

PROMISSORY NOTE

1.01. Loan by Lender. Borrower hereby acknowledges the Outstanding Loan Amount and that such amount is due and owing to the Company. The Loan Amount will be evidenced by a promissory note, identical in form to Exhibit 1.01 (“Promissory Note”). Borrower agrees to execute and promptly deliver to the Company the Promissory Note to reflect the Outstanding Loan Amount.

1.02. Initial Interest, Lump Sum Payment, and Loan Payment. The Promissory Note sets forth interest, the loan payment provisions and other relevant terms.

  

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ARTICLE II

COVENANTS

2.01. Prohibition Against Additional Loans. From and after the date hereof, Borrower covenants and agrees not to take and/or receive any loans or borrowings of any kind from the Company.

2.02. Additional Loans. To the extent that Borrower receives any loans or borrowings from the Company other than the Outstanding Loan Amount, the amount of such loans or borrowings shall be deemed to be additional borrowings (“Additional Borrowings”) under this agreement and shall be due and payable on demand (for which Borrower hereby waives presentment, demand, protest and notice of every kind and nature) and interest on such additional borrowings shall accrue at the rate of fifteen percent (15%) per annum until paid. In addition, Borrower shall execute and deliver to the Company one or more promissory notes to reflect such Additional Borrowings in accordance with the terms and conditions hereof.

ARTICLE III

EVENTS OF DEFAULT

3.01. Events of Default.  An event of default under this agreement and/or Promissory Note shall occur if (each an “Event of Default”):

(i)  the Borrower defaults in the payment of, the Promissory Note or interest at maturity or

(ii).  the Borrower fails in any material respect to comply with any other material provision of the this Agreement, including Section 2.01 hereof.

3.02. Interest Rate Adjustment. Upon the occurrence of an Event of Default, the interest rate on unpaid amount of the Outstanding Loan Amount shall be reset to fifteen percent (15%) per annum (“Default Interest”) from the Event of Default date until paid.

3.03. Remedies. In addition to the rights under Section 3.02, if any Event of Default shall have occurred and be continuing, Lender may do or effect any one or more of the following, without prejudice to any of its other rights under this agreement and the Promissory Note or applicable law:

(i). declare the Promissory Note immediately due and payable, without presentment, representation, demand of payment, or protest, which are hereby expressly waived by the Company, and

(ii). avail himself of all other rights and remedies by law, equity or contract.

ARTICLE IV

ENTIRE AGREEMENT, MODIFICATION, WAIVER AND HEADINGS

4.01.  Entire Agreement; Modification.  This Agreement, including the exhibits and schedules, constitute the entire agreement between the parties hereto pertaining to the subject matter herein and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions among the parties, written or otherwise.  No supplement, modification or waiver or termination of this Agreement shall be binding unless executed in writing by the party to be bound thereby.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided.

  

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4.02.  Headings.  Section captions or headings are included herein for convenience purposes only and are not to be construed as an accurate description of the contents therein.

4.03.  Incorporation by Reference.  The recitals, exhibits, schedules and documents referred to in this Agreement are incorporated herein for all purposes.

4.04.  Multiple Counterpart Execution; Governing Law.  This Agreement may be executed in multiple counterparts, which each counterpart constituting a binding agreement between the signatory parties, and with all such counterparts constituting an integrated document.  This Agreement shall be construed and governed by the laws of the Peoples Republic of China.

4.05.  Severability.  If any provision of this Agreement is invalid, illegal or enforceable, the balance of this Agreement shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances.

4.06. Conflict. In the event of a conflict between the terms and conditions herein and that of the Promissory Note, the terms and conditions herein shall prevail at the point of conflict.

IN WITNESS WHEREOF, the parties have caused this Agreement to be effective all as of the date set forth above.

  

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