Document:

exe_ee102.htm

Exhibit 10.2

 

Crexendo, Inc. Announces $2.0 Million Private Placement

 

PHOENIX, AZ / ACCESSWIRE / December 24, 2014 / Crexendo, Inc. (NYSE MKT: EXE), a hosted services company that provides hosted telecommunications services, hosted website services, website development software and broadband internet services for businesses and entrepreneurs, announced today, that its Chairman of the Board of Directors and Chief Executive Officer, Steven G. Mihaylo  (through a trust) agreed to purchase 1,449,275 shares of Common Stock at a price per share of $1.38 for a total of $2,000,000.00. The agreement which was signed today is expected to be financed by December 27, 2014. In addition, Mr. Mihaylo has been granted 500,000 warrants to purchase common stock of the Company; the warrants have a five year term and a strike price of $1.38 per share.  Mr. Mihaylo has agreed that for a period of two years from the date of the Sale Agreement, the Company may require him to exercise the warrants if the Company determines the exercise of the warrants is necessary for the cash needs of the Company.

 

Mr. Mihaylo commented “As you are aware, I agreed that if necessary I would provide financing for the Company.  The Company has looked at various financing options, including loans.  We compared all third party options and both the Board and I believe that the transaction involving me purchasing shares from the Company makes the most sense to the Company and the stockholders.  We reviewed the possibility of a loan from me or independent third parties, but determined a direct sale was less dilutive and less costly since there are no interest payments or requirement to repay principal.  A direct sale further did not require securitizing assets of the Company.  On a personal basis, I also wanted my actions to confirm my belief in the Company and its long term future.  While it may have been in my personal interest to have made a loan, I wanted both the stockholders and the employees of the Company to understand my belief in the Company and commitment to our future; I chose an equity interest instead of a security interest.”

 

Mihaylo added, “I am very excited about improvements we are making to our end-points (telephone desk sets), our network, our dealer program and our sales efforts.  Our features and customer service have always been second to none.  We continue to reduce our costs and improve our infrastructure.  I believe that we are very close to being at break even and profitability.  I see the future being very bright for Crexendo, which is why I have made the purchase of stock.  We are in the right space, with the right products and features. I am extremely confident of the investment I have made.”

 

About Crexendo

 

Crexendo is a hosted services company that provides hosted telecommunications services, hosted website services, website development software and broadband internet services for businesses and entrepreneurs. Our services are designed to make enterprise-class hosting services available to small, medium-sized and enterprise-sized businesses at affordable monthly rates.

 

SAFE HARBOR STATMENT

 

This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements.  The words "believe", "expect", "anticipate", "estimate", "will" and other similar statements of expectation identify forward-looking statements.  Specific forward-looking statements in this press release include information about Crexendo (i) believing the transaction involving Mr. Mihaylo purchasing shares from the Company  makes the most sense to the Company and the stockholders; (ii)  determining that a direct sale of stock  was less dilutive and less costly than a financing option, which additionally did not require securitizing assets of the Company; (iii)  belief in the Company and its long term future; (iv) belief in the Company and commitment to our future (v) being excited about improvements to  phones, the dealer program sales efforts; (vi) believing its features and customer service have always been second to none; (vii) continuing  to reduce  costs and improve  infrastructure; (viii)  believing that it is very close to being at break even and profitability ;  (ix) believing the is very bright and (x) being in the right space, with the right products and features.

 

For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the Company's Form 10-K for the year ended December 31, 2013 and Form 10-Q for the period ended March 31, 2014, June 30, 2014 and September 30, 2014. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such forward-looking statements, except as required by law.

 

 

Contact

 

Crexendo, Inc.

Steven G. Mihaylo

CEO

602-345-7777

smihaylo@crexendo.comExhibit 10.1

 

 

LEASE AGREEMENT

This Lease is made this 1st day of November, 2014 by and between Velara Global (hereinafter "Landlord") and Global Holding International(hereinafter "Tenant"). In consideration for the mutual promises and covenants contained herein, and for other good and valuable consideration, the parties hereby agree as follows:

1. The Landlord subleases to the Tenant and the Tenant rents from the Landlord the following described premises: office space located at 4921 Birch Street Suite 110, Newport Beach California 92660.

2. The term of the Lease shall be for one year commencing November 1, 2014 and ending on October 31, 2015.

3. The Tenant shall pay to Landlord as rent $1,200 per year in advance of moving in.

4. This Lease is subject to all present or future mortgages affecting the premises.

5. Tenant shall use and occupy the premises only as office space in one area of the office.

6. The Tenant shall not make any alterations, additions or improvements to the premises without the prior written consent of the Landlord.

7. The Landlord, at his own expense, shall furnish the following utilities or amenities for the benefit of the Tenant: Telephones, desks, chairs, copier and conference room usage.

8. The Tenant, at his own expense, shall furnish the following: computers.

9. The Tenant shall not permit or commit waste to the premises.

10. The Tenant shall comply with all rules, regulations, ordinances codes and laws of all governmental authorities having jurisdiction over the premises.

11. The Tenant shall not sublet or assign the premises nor allow any other person or business to use or occupy the premises without the prior written consent of the Landlord, which consent may not be unreasonably withheld.

12. At the end of the term of this Lease, the Tenant shall surrender and deliver up the premises in the same condition (subject to any additions, alterations or improvements, if any) as presently exists, reasonable wear and tear excluded.

 13. Upon default in any term or condition of this Lease, the Landlord shall have the right to undertake any or all other remedies permitted by Law.

 

14. This Lease shall be binding upon, and inure to the benefit of, the parties, their heirs, successors, and assigns.

 Signed this 1st day of November, 2014.

	
 

	
 

	
 

	
/s/ Bernard Sjauta

	
 

	
/s/ Grace Hung

	
 

	
 

	
 

	
Tenant; Global Holding Internatinal

	
 

	
Landlord, Velara Global

	
Bernard Sjauta, President

	
 

	
Grace Hung Presidentex4.htm

  

  

  

ZRHO BEVERAGES, INC.

 

 

TOTAL AUTHORIZED ISSUE

100,000,000 SHARES PAR VALUE $.001 EACH

COMMON STOCK

 

 

THIS IS TO CERTIFY THAT ________________________________________ IS THE OWNER OF _________________________________________________________________________ FULLY PAID AND NON-ASSESSABLE SHARES OF THE ABOVE CORPORATION TRANSFERABLE ONLY ON THE BOOKS OF THE CORPORATION BY THE HOLDER HEREOF IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED WITNESS, THE SEAL OF THE CORPORATION AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS.

 

 

DATED

 

 

SECRETARY ____________________ PRESIDENT______________________ex10-1.htm

  

  

  

ZRHO BEVERAGES, INC.

ZRHO BEVERAGES, INC.

SUBSCRIPTION AGREEMENT

1. INVESTMENT:

	
(a)  

	
The undersigned subscribes for ____________ shares of Common Stock ZRHO Beverages, Inc., at $0.10 per share.

(b) Total subscription price ($0.10 times number of shares): = $___________________.

2. INVESTOR INFORMATION:

_______________________                                                                ________________                                           _______________________

Name (type or print)                                                                Social Sec. No.                                                      Address

_______________________                                                                ________________                                           _______________________

Name (type or print)                                                                Social Sec. No.                                                      Address

Mailing Address:

Street                                                                City                                 State                                Zip

3. TYPE OF OWNERSHIP: (You must check one box)

	
1.  

	
[   ] Individual                                                6.    [   ] Joint Tenants with rights of Survivorship

	
2.  

	
[   ] Tenants in Common                                                           7.    [   ] Custodian for_____________________________________

	
3.  

	
[   ] Community Property                                                           8.    [   ] Uniform Gifts to Minors Act of the State ______________

	
4.  

	
[   ] Partnership                                                           9.    [   ] Corporation  _____________________________________

	
5.  

	
[   ] Trust                                                           10.  [   ] Other (explain)  ___________________________________

4. RECEIPT OF DISCLOSURE DOCUMENT:

By executing this subscription agreement the undersigned acknowledges receipt of a current Prospectus, as supplemented to the date of this Subscription Agreement, in which the terms and conditions of the offering of Common Stock and the risks associated therewith are described.

  

  

  

 

5. TERMINATION OF THE OFFERING:

The undersigned understands that the Company may terminate the offering at any time and for any reason. If the offering is so terminated, and the Company is holding subscriptions that have not been accepted by an authorized representative of the Company, together with the un-accepted subscription agreements, then in that event the subscriptions so held shall be returned without any interest earned thereon.

6. REPRESENTATION AND WARRANTS:

By executing this subscription agreement, the undersigned represents and warrants to the Company that:

	
(a)

	
Subscriber is buying the Common Stock for Subscriber's own account or is buying for the account or benefit of a member or members of Subscriber's immediate family or in a fiduciary capacity for the account of another person or entity and is not purchasing as an agent for another. Furthermore, if Subscriber is purchasing for the account of another person or entity, Subscriber has full authority to execute this Subscription Agreement in such capacity and on behalf of such person or entity.

(b)           Subscriber is 18 years of age or over (You must check box) [   ] Yes                                                                                                                     [   ] No

7. ACCEPTANCE OF SUBSCRIPTION:

The undersigned hereby confirms Subscriber's understanding that the Company has the full right to accept or reject this subscription, providing that the Company must accept or reject the subscription by _____________, 20____. In case of rejection of a subscription, contributions of such persons will promptly be returned to such persons without interest thereon.

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Please make a copy of your completed Subscription Agreement

Signatures:

Executed this ________day of______________________, 20______ at,

________________________________________________________________Address City         State Zip

X__________________________                                                                                     X__________________________

Signature (investor or authorized signature)                                                                                                Signature (investor or authorized signature)

MAKE CHECK PAYABLE TO:                                                                                      ZRHO BEVERAGES, INC.

SEND SUBSCRIPTION AGREEMENT AND CHECK TO:                                         ZRHO Beverages, Inc.

15720 N. Greenway-Hayden Loop #2

Scottsdale, Arizona 85260

Accepted for the Company this _________day of _____________________________, 20___.

By:  _____________________________                                                                           Title:  _____________________________

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