Document:

jbc_ex10-1.htm

    Exhibit
10.1

    

    STOCK
PURCHASE AGREEMENT

    

    THIS
STOCK PURCHASE AGREEMENT (the “Agreement”) is entered into and is effective on
this 16th day of June 2009 by and
between JB Clothing Corporation, a Nevada corporation with principal address at
47 Fountainhead Circle, Henderson, Nevada 89052 (the “Buyer”), and Bio-Matrix
Scientific Group, Inc., a Delaware corporation with principal address at 8885
Rehco Road, San Diego, California 92121  (the “Seller”). As used in
this Agreement, the term, “Parties” shall refer to the Buyer and the Seller
jointly.

    

    WHEREAS:

    

    A.           Seller
desires to sell and transfer to Buyer, all of the outstanding common stock of
Entest Biomedical, Inc., a California corporation (the “Subsidiary Stock”) for a
total purchase price of Ten Million (10,000,000) shares of the common stock of
Buyer (the “Purchase Price”).

    

    B.           The
Buyer desires to purchase the Subsidiary Stock for the Purchase
Price.

    

    C.           The
Parties have completed their negotiations and subject to the terms and
conditions set forth herein, hereby enter into this Agreement.

    

    THERFORE,
IT IS AGREED AS FOLLOWS:

    

    
      	
               
      

            	
              1.

            	
              DEFINITIONS

            

    

    

    “Affiliate” means, with
respect to any specified Person, a Person that directly or indirectly, through
one or more intermediaries, controls or is controlled by, or is under common
control with, the Person specified.

     

    “Stockholder” means Rick
Plote.

     

    “Shares to be Cancelled” means
the cancellation of Ten Million (10,000,000) shares of the common stock of Buyer
issued to, owned by, and registered in the name of Rick Plote.

     

    “Entest” means Entest
Biomedical, Inc., a California corporation

     

    “Liability” means any
liability (whether known or unknown, whether asserted or unasserted, whether
absolute or contingent, whether accrued or unaccrued, whether liquidated or
unliquidated, and whether due or to become due), including any liability for
Taxes.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Contract” means any contract,
lease, commitment, understanding, sales order, purchase order, agreement,
indenture, mortgage, note, bond, right, warrant, instrument, plan, permit or
license, whether written or oral, which is intended or purports to be binding
and enforceable.

     

    “Person” means an individual,
a partnership, a corporation, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization, or a governmental entity (or any
department, agency, or political subdivision thereof).

     

    “Purchase Price” means Ten
Million (10,000,000) shares of the Stock of Buyer as issued by Buyer to Seller
with each stock certificate representing said shares to contain a restricted
securities legend in accordance with the Securities Act.

     

    “Shares” means all of the
outstanding shares of the common stock of Entest owned and held by the Seller
with each stock certificate representing the Shares to contain a restricted
securities legend in accordance with the Securities Act.

     

    “Permitted Liabilities” means
Liabilities owed to trade creditors, to governmental entities for payroll and
personal property taxes and other like Liabilities incurred in the Ordinary
Course of Business not in excess of One Thousand Dollars ($1,000).

     

    “Material Adverse Effect”
shall mean any circumstances, developments or matters whose effect on the
Business any of the Buyer, properties, assets, results, operations, conditions
(financial and other) and prospects, either alone or in the aggregate, is or
would reasonably be expected to be materially adverse.

     

    “Environmental Laws” mean all
federal, state, provincial, local and foreign statutes, regulations, ordinances
and other provisions having the force or effect of law, all judicial and
administrative orders and determinations, all contractual obligations and all
common law concerning public health and safety, worker health and safety, and
pollution or protection of the environment including, without limitation, all
those relating to the presence, use, production, generation, handling,
transportation, treatment, storage, disposal, distribution, labeling, testing,
processing, discharge, release, threatened release, control, or cleanup of any
Hazardous Substances, materials or wastes, chemical substances or mixtures,
pesticides, pollutants, contaminants, toxic chemicals, petroleum products or
byproducts, asbestos, polychlorinated biphenyls, noise or radiation, each as
amended and as now or hereafter in effect, including (but not limited to) the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
the Superfund Amendments and Reauthorization Act of 1986, as amended, the
Resource Conservation and Recovery Act of 1976, as amended, the Toxic Substances
Control Act of 1976, as amended, the Federal Water Pollution Control Act
Amendments of 1972, the Clean Water Act of 1977, as amended, and the Waste
Management Act, R.S.B.C. 1996 c. 482; Canadian Environmental Protection Act,
1999; S.C. 1999, c. 33 and any regulations thereto, each as amended, any
so-called “Superlien” law, and any other similar federal, state, provincial or
local statutes.

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Employee” means each employee
and leased employee regardless of whether the term is initially
capitalized.

     

    “Employee Benefit Plan” means
any (a) nonqualified deferred compensation or retirement plan or arrangement,
(b) qualified defined contribution retirement plan or arrangement which is an
Employee Pension Benefit Plan, (c) qualified defined benefit retirement plan or
arrangement which is an Employee Pension Benefit Plan (including any
Multiemployer Plan), or (d) Employee Welfare Benefit Plan or material fringe
benefit or other retirement, bonus, or incentive plan or program.

     

    “Employee Pension Benefit
Plan” has the meaning set forth in ERISA §3(2).

     

    “Employee Welfare Benefit
Plan” has the meaning set forth in ERISA §3(1).

     

    “Tax” means any federal,
state, local, or foreign income, gross receipts, license, payroll, employment,
excise, severance, stamp, occupation, premium, windfall profits, environmental ,
customs duties, capital stock, franchise, profits, withholding, social security
(or similar), unemployment, disability, real property, personal property, sales,
use, transfer, registration, value added, alternative or add-on minimum,
estimated, or other tax of any kind whatsoever, including any interest, penalty,
or addition thereto, whether disputed or not.

     

    “Tax Return” means any return,
declaration, report, claim for refund, or information return or statement
relating to Taxes, including any schedule or attachment thereto, and including
any amendment thereof.

    

    
      	
               
      

            	
              2.

            	
              ESCROW.
      On or before June 16,
      2009, each of the Parties shall execute and deliver an executed
      copy of the Escrow Agreement to the Escrow Agent and perform all of the
      duties set forth in the Escrow Agreement attached hereto as Exhibit
      A.

            

    

    
      	
               
      

            	
              3.

            	
              SHARES
      TO BE CANCELLED. On or before June 19, 2009,
      Stockholder shall deliver to the Escrow Agent, one or more stock
      certificates representing the Shares to be Cancelled with instructions
      authorizing and instructing the Escrow Agent to deliver the Shares to be
      Cancelled to the Company’s stock transfer agent so that the same may be
      returned and cancelled.

            

    

    
      	
               
      

            	
              4.

            	
              THE
      CLOSING. The closing of this Transaction (the “Closing”) shall take place
      at the offices of Law Offices of Joseph Pittera commencing at 10:00 a.m.
      Pacific Time three   (3) business day following the
      satisfaction or waiver of all conditions to the obligations of the parties
      to consummate this Transaction (other than conditions with respect to
      actions the respective parties will take at the Closing itself) or such
      other date as the parties may mutually determine (the “Closing Date”). It
      is the intent of the parties that the Buyer shall assume control of Entest
      immediately after the Closing.

            

    

    
      	
               
      

            	
              5.

            	
              REPRESENTATIONS
      OF THE SELLER.

            

    

     

    
 

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      	
              (a)

            	
              Authorization
      of Transaction. The Seller has full power and authority to execute and
      deliver this Agreement and to perform his obligations hereunder. This
      Agreement constitutes the valid and legally binding obligation of the
      Seller, enforceable in accordance with its terms and conditions. The
      Seller need not give any notice to, make any filing with, or obtain any
      authorization, consent, or approval of any government or governmental
      agency in order to consummate this
Transaction.

            

    

    
      	
              (b)

            	
              Brokers’
      Fees. Neither the Seller nor Entest has any Liability or obligation to pay
      any fees or commissions to any broker, finder, or agent with respect to
      this Transaction for which the Buyer could become liable or
      obligated.

            

    

    
      	
              (c)

            	
              Shares.
      The Seller holds of record and owns beneficially all of the Shares, free
      and clear of any restrictions on transfer (other than any restrictions
      under the Securities Act and state securities Laws), Taxes, Liens,
      options, warrants, purchase rights, Contracts, commitments, equities,
      claims, and demands. The Seller is not a party to any option, warrant,
      purchase right, or other Contract or commitment that could require the
      Seller to sell, transfer, or otherwise dispose of any Shares (other than
      this Agreement). The Seller is not a party to any voting trust, proxy, or
      other agreement or understanding with respect to the voting of any
      Shares.

            

    

    
      	
              (d)

            	
              Entest
      is a corporation duly organized, valid and existing under the Laws of
      California. Entest is duly authorized to conduct business and is in good
      standing under the Laws of each jurisdiction except where the failure to
      be so qualified would not have a Material Adverse Effect on Entest. Entest
      has full corporate power and authority and all licenses, Permits, and
      authorizations necessary to carry on the Business in which it is engaged
      and to own and use the properties owned and used by it. Entest is not in
      default under or in violation of any provision of its articles of
      incorporation or bylaws.

            

    

    
      	
              (e)

            	
              The
      entire authorized capital stock of Entest consists of 100,000,000 shares
      of common stock, $0.00001 par value, of which 1,500 shares are issued and
      outstanding and no shares are unissued. All of the issued and outstanding
      Shares of Entest have been duly authorized, are validly issued, fully
      paid, and nonassessable, and are held of record by the Seller. There are
      no outstanding or authorized options, warrants, purchase rights,
      subscription rights, conversion rights, exchange rights, or other
      Contracts or commitments that could require Entest to issue, sell, or
      otherwise cause to become outstanding any of the Shares of Entest. There
      are no outstanding or authorized stock appreciation, phantom stock, profit
      participation, or similar rights with respect to the Shares of Entest.
      There are no voting trusts, proxies, or other agreements or understandings
      with respect to the voting of the Shares of
  Entest.

            

    

    
      	
              (f)

            	
              The
      assignments, endorsements, stock powers and other instruments of transfer
      delivered by the Seller to the Buyer at the Closing will be sufficient to
      transfer the Seller’s entire interest, legal and beneficial, in the Shares
      and, after such transfer, the Buyer shall own all of the Shares. The
      Seller has full power and authority (including full corporate power and
      authority) to convey good and marketable title to all of the Shares, and
      upon transfer to the Buyer of the certificates representing such Shares,
      the Buyer will receive good and marketable title to such Shares, free and
      clear of all Liens.

            

    

     

    
 

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    
      	
              (g)

            	
              Noncontravention.
      Neither the execution and the delivery of this Agreement, nor the
      consummation of this Transaction will (i) violate any constitution, Law,
      regulation, rule, injunction, judgment, order, decree, ruling, charge, or
      other restriction of any government, governmental agency, or court to
      which  Entest is subject or any provision of the articles of
      incorporation or bylaws of  Entest, or (ii) conflict with,
      result in a breach of, constitute a default under, result in the
      acceleration of, create in any party the right to accelerate, terminate,
      modify, or cancel, or require any notice under any Contract, lease,
      license, instrument, or other arrangement to which  Entest is a
      party or by which it is bound or to which any of its assets is subject (or
      result in the imposition of any Lien upon any of its
    assets).

            

    

    

    6.
REPRESENTATIONS OF THE BUYER.

    

    
      	
               
      

            	
              (a)

            	
              Organization
      of the Buyer and Capital Stock. The Buyer is a corporation duly organized,
      validly existing, and in good standing under the laws of the State of
      Nevada and legally authorized to do business in the states in which it
      conducts business. The Buyer is not in default under or in violation of
      any provision of its articles of incorporation or bylaws. The capital
      stock of Buyer is and will be at Closing as follows (except for the Ten
      Million Shares issued to Seller in payment of the Purchase Price): Buyer
      has 70,000,000 shares of its Common Stock outstanding (par value $0.001)
      of which 14,000,000 shares are issued and outstanding and 5,000,000 shares
      of its Preferred Stock (par value $0.001) are authorized of which no
      Preferred Shares are issued and outstanding. Buyer’s stockholders have not
      approved or ratified any amendment to Buyer’s Certificate of incorporation
      or Bylaws. Buyer has not entered into any agreement, commitment, or
      understanding, oral or written, which would cause Buyer to have any
      obligation to issue any additional shares of its capital stock or which
      would result in the issuance of additional shares of Buyer’s capital
      stock.

            

    

    
      	
               
      

            	
              (b)

            	
              Authorization
      of Transaction. The Buyer has full power and authority (including full
      corporate power and authority) to execute and deliver this Agreement and
      to perform its obligations hereunder. This Agreement constitutes the valid
      and legally binding obligation of the Buyer, enforceable in accordance
      with its terms and conditions. The Buyer need not give any notice to, make
      any filing with, or obtain any authorization, consent, or approval of any
      government or governmental agency in order to consummate this Transaction.
      All of the Shares to be Cancelled as delivered by the Stockholder at
      Closing are, as delivered, free from any claims and interests of any third
      parties and said shares may be cancelled by the Buyer without Buyer
      incurring any liabilities to any third
party.

            

    

     

     

    
 

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              Noncontravention.
      Neither the execution and the delivery of this Agreement, nor the
      consummation of this Transaction, will (i) violate any constitution, Law,
      regulation, rule, injunction, judgment, order, decree, ruling, charge, or
      other restriction of any government, governmental agency, or court to
      which the Buyer is subject or any provision of its charter or bylaws or
      (ii) conflict with, result in a breach of, constitute a default under,
      result in the acceleration of, create in any party the right to
      accelerate, terminate, modify, or cancel, or require any notice or consent
      under any agreement, Contract, lease, license, instrument, or other
      arrangement to which the Buyer is a party or by which it is bound or to
      which any of its assets is subject

            

    

    
      	
               
      

            	
              (d)

            	
              Brokers’
      Fees. The Buyer has no Liability or obligation to pay any fees or
      commissions to any broker, finder, or agent with respect to this
      Transaction for which the Seller could become liable or
      obligated.

            

    

    
      	
               
      

            	
              (e)

            	
              Title
      to Assets. The Buyer has good and marketable title to, or a valid
      leasehold interest in, the properties and assets used by
    it.

            

    

    
      	
               
      

            	
              (f)

            	
              Subsidiaries.
      The Buyer does not have any direct or indirect Subsidiaries, either wholly
      or partially owned and the Buyer has no direct or indirect economic,
      voting or management interest in any Person or owns any securities issued
      by any Person.

            

    

    
      	
               
      

            	
              (g)

            	
              Since
      the filing of the Buyer’s Form 10-Q for the  quarter ending
      February 28, 2009 with the U.S. Securities and Exchange Commission there
      has not been any material change in the Business, financial condition,
      operations, results of operations, or future prospects of any of the Buyer
      which would have a Material Adverse Effect on of the
  Buyer.

            

    

    
      	
               
      

            	
              (h)

            	
              Undisclosed
      Liabilities. The Buyer does not have any Liability in excess of One
      Thousand Dollars ($1,000) that has not been disclosed in Buyer’s Form 10-Q
      filed with the U.S. Securities and Exchange Commission for the period
      ending February 28, 2009.

            

    

    
      	
               
      

            	
              (i)

            	
              Tax
      Matters. The Buyer has duly and timely filed all Tax Returns that it has
      been required to file for all periods through and including the Closing
      Date. All such Tax Returns were correct and complete in all respects.
      There are no Liens on any of the assets of the Buyer that arose in
      connection with any failure (or alleged failure) to pay any Tax. None of
      the Tax Returns of the Buyer has ever been audited or investigated by any
      taxing Authority, and no facts exist which would constitute grounds for
      the assessment of any additional Taxes by any taxing Authority with
      respect to the taxable years covered in such Tax Returns. The Buyer has
      withheld and paid all Taxes required to have been withheld and paid
      including, without limitation, sales and use taxes, and all Taxes in
      connection with amounts paid or owing to any employee, independent
      contractor, creditor, stockholder, or other third
  party.

            

    

    
      	
               
      

            	
              (j)

            	
              Real
      Property. The Buyer does not own or have any interest in any Real
      Property.

            

    

     

     

    
 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              (k)

            	
              Intellectual
      Property. The Buyer has no basis to believe that it is or has infringed
      upon the Intellectual Property rights that may be claimed or held by
      others.

            

    

    
      	
               
      

            	
              (l)

            	
              Contracts.
      The Buyer is not a party to any: (A) Contract (or group of related
      Contracts) for the lease of personal property to or from any Person; (B)
      any Contract (or group of related Contracts) with person; (C) any lease,
      pledge, conditional sale or title retention agreement; (D) any Contract
      concerning a partnership or joint venture; (E) any Contract with a sales
      representative, manufacturer’s representative, distributor, dealer,
      broker, sales agency, advertising agency or other Person engaged in sales,
      distributing or promotional activities, or any agreement to act as one of
      the foregoing on behalf of any Person; (F) any Contract (or group of
      related Contracts) under which it has created, incurred, assumed, or
      guaranteed any indebtedness for borrowed money, or any capitalized lease
      obligation, or under which it has imposed a Lien on any of its assets,
      tangible or intangible; (G) any Contract pursuant to which the Buyer has
      made or will make loans or advances, or has or will have incurred debts or
      become a guarantor or surety or pledged its credit on or otherwise become
      responsible with respect to any undertaking of another Person (except for
      the negotiation or collection of negotiable instruments in transactions in
      the Ordinary Course of Business); (H) any mortgage, indenture, note, bond
      or other agreement relating to indebtedness incurred or provided by the
      Buyer; (I) any form of Contract concerning confidentiality or
      non-competition or otherwise prohibiting the Buyer from freely engaging in
      any business; (J) any profit sharing, stock option, stock purchase, stock
      appreciation, deferred compensation, severance, or other plan or
      arrangement for the benefit of its current or former directors, officers,
      and employees; (K) any license, royalty or other Contract relating to
      Intellectual Property; (L) any Contract involving a governmental body; (M)
      any Contract for the employment of any individual on a full-tune,
      part-time, consulting, or providing severance benefits; (N) any Contract,
      whether or not fully performed, relating to any acquisition or disposition
      of the Buyer or any predecessor in interest or any acquisition or
      disposition of any subsidiary , division, line of business, or real
      property; (O) any Contract under which the Buyer has advanced or loaned
      any amount to any of its Directors, officers, and employees; and (P) any
      Contract under which the consequences of a default or termination could
      have an adverse effect on the business, financial condition, operations,
      results of operations, or future prospects of the
  Buyer.

            

    

    
      	
               
      

            	
              (m)

            	
              Notes
      and Accounts Payable. All notes and accounts payable of the Buyer are
      reflected properly on its books and
records.

            

    

    
      	
               
      

            	
              (n)

            	
              Powers
      of Attorney. There are no outstanding powers of attorney executed on
      behalf of the Buyer

            

    

    
      	
               
      

            	
              (o)

            	
              Insurance.
      The Buyer maintains sufficient insurance coverage reasonably appropriate
      for its current operations

            

    

     

     

    
 

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              (p)

            	
              Litigation.
      To the Knowledge of the Buyer and its officers and directors, the Buyer is
      not subject to any outstanding injunction, judgment, order, decree,
      ruling, or charge or (ii) is not a party to any action, suite or
      proceeding, baring, investigation, or of, in, or before any court or
      quasi-judicial or administrative agency of any federal, state, local, or
      foreign jurisdiction or before any arbitrator; (iii) is not threatened to
      be made a party to any action, suit, proceeding, baring, or investigation
      of, in, or before any court or quasi-judicial or administrative agency of
      any federal, state, local, or foreign jurisdiction or before any
      arbitrator.

            

    

    
      	
               
      

            	
              (q)

            	
              Employees.
      The Buyer has no outstanding oral or written employment agreements,
      commitments, or understandings. The Buyer does not maintain or have any
      commitments, oral or written, relating to any: (A)Employee Benefit
      Plan,  Employee Welfare Benefit Plan or Employee Pension Benefit
      Plan; (B) any retirement or deferred compensation plan, incentive
      compensation plan, stock plan, unemployment compensation plan, vacation
      pay, severance pay, bonus or benefit arrangement, insurance or
      hospitalization program or any other fringe benefit arrangements for any
      current or former employee, director, consultant or agent, whether
      pursuant to Contract, arrangement, custom or informal understanding, which
      does not constitute an Employee Welfare Benefit Plan or Employee Pension
      Benefit Plan; or (C) any employment
agreement.

            

    

    
      	
               
      

            	
              (r)

            	
              Environmental
      Matters. The Buyer and its Affiliates: (A) have complied and are in
      substantial compliance with all Environmental Laws and no action, suit,
      proceeding, hearing, investigation, charge, complaint, claim, demand or
      notice has been filed or commenced against any of them alleging any such
      failure to comply with any such Environmental Laws; (B) have not received
      any written or oral notice, report or other information regarding any
      actual or alleged violation of Environmental Laws, or any Liabilities or
      potential Liabilities (whether known or unknown, whether asserted or
      unasserted, whether absolute or contingent, whether accrued or unaccrued,
      whether liquidated or unliquidated, and whether due or to become due),
      including any investigatory, remedial or corrective obligations, relating
      to any of them or its facilities arising under Environmental
      Laws.

            

    

    
      	
               
      

            	
              (s)

            	
              Claims
      Against Officers and Directors. There are no threatened claims against any
      Director, officer, employee or agent of the Buyer or any other Person
      which could give rise to any claim for indemnification against the
      Buyer.

            

    

    
      	
               
      

            	
              (t)

            	
              Taxes.
      On the Closing Date, the Buyer shall have no Liability for any
      Taxes.

            

    

    
      	
               
      

            	
              (u)

            	
              Debt.
      On the Closing Date, the Buyer shall not have any Liabilities other than
      Permitted Liabilities unless the Seller’s written consent thereto shall
      have been delivered by the Seller to the Buyer prior to the
      Closing.

            

    

     

     

    
 

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              (v)

            	
              Accuracy
      of Statements. Neither this Agreement nor any Schedule, exhibit,
      statement, list, document, certificate or other information furnished or
      to be furnished by the Buyer to the Seller in connection with this
      Agreement or this Transaction contains or will contain any untrue
      statement of a material fact or omits or will omit to state a material
      fact necessary to make the statements contained herein or therein, in
      light of the circumstances in which they are made, not
      misleading.

            

    

    
      	
               
      

            	
              (w)

            	
              Securities
      Laws. All of the Shares acquired by the Buyer pursuant to this Agreement
      are being acquired by the Buyer for investment purposes only and each
      certificate representing the Shares shall bear a restricted securities
      legend consistent with the requirements of Section 4(2) of the Securities
      Act of 1933.

            

    

    

    7.
CONDITIONS PRECEDENT TO CLOSING

    

    (a) Each
officer and Director of the Buyer shall tender his or her resignation from such
position as of a date two days subsequent to the execution of this Agreement and
(i) a resolution shall be duly adopted by the Buyer’s Board of Directors,
electing the Seller’s nominees to the Buyer’s Board of Directors and (ii) a
resolution shall be duly adopted appointed David Koos as President, Chief
Executive Officer, Chief Financial Officer, Principal Accounting Officer,
Secretary and  Treasurer of the Buyer as of a date two days subsequent
to the execution of this Agreement.

    

    (b) (i)
The original copy of all corporate minutes and actions of the Board of Directors
and shareholders of the Buyer, including, but not limited records and
authorizations received or issued to the Buyer’s stock transfer agent, the name
and contact information of the Buyer’s tax advisors, accountants, and legal
counsel, EDGAR filing agent, a listing of the EDGAR filing codes and such other
information as may be reasonably necessary to allow the Buyer’s new officer and
director to effect a timely filing of the Buyer’s periodic reports with the U.S.
Securities and Exchange Commission shall be delivered to David Koos prior to
June 20, 2009; (ii) A
copy of all contracts, agreements, and commitments, leases, and all other
documents relating to all real and personal property owned or leased by the
Buyer  together with such other documents as may be reasonably
necessary to allow the new officer  and director of the Buyer to
function as such shall be delivered to  David Koos prior to June 20, 2009.

    

    (c) On
the Closing Date the Buyer shall have not have any obligation to issue any
shares of its capital stock or any obligation to issue any security convertible
or exchangeable for its capital stock or which upon exercise of any option,
right, or warrant would result in the issuance of its capital. Further, the
Stockholder shall have delivered to the Escrow Agent, one or more stock
certificates representing the Shares to be Cancelled together with written
instructions instructing the Escrow Agent to effect the cancellation of the
Shares to be Cancelled.

     

     

    
 

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    (d) All
representations and warranties of Section 6 shall have been accurate, true and
correct on and as of the date of this Agreement, and shall also be accurate,
true and correct on and as of the Closing Date with the same force and effect as
though made on and as of the Closing Date.

    

    (e) The
Seller and Buyer shall have compiled and prepared all documents required,
including any audits of financial statements of Entest, in order that the
applicable requirements of Form 8-K may be complied with by the
Buyer.

    

    8.  GOVERNING
LAW. This Agreement shall be governed by and construed in accordance with the
domestic Laws of the State of California as if this Agreement were fully
performed and all obligations recited herein were undertaken solely within the
State of California without giving effect to any choice or conflict of Law
provision or rule (whether of the State of California or any other jurisdiction)
that would cause the application of the Laws of any jurisdiction other than the
State of California. Any dispute or claims made under this Agreement or any
attempt to enforce the terms of this Agreement shall be resolved in the courts
of California.

    

    9.
NOTICES. All notices, requests, demands, claims, and other communications
hereunder will be in writing. Any notice, request, demand, claim, or other
communication hereunder shall be deemed duly given if (and then two (2) business
days after) it is sent by registered or certified mail, return receipt
requested, postage prepaid, and addressed to the intended recipient as set forth
below:

    

    To
Seller:

    

    David R.
Koos

    C/O
Bio-Matrix Scientific Group Inc.

    1010
University Avenue #40

    San
Diego, CA 92103

    

    To
Buyer:

    

    Rick
Plote

    C/O JB
Clothing Corporation

    47
Fountainhead Circle

    Henderson,
Nevada 89052

    

    10.
AMENDMENTS AND WAIVERS. No amendment of any provision of this Agreement shall be
valid unless the same shall be in writing and signed by the Buyer and the
Seller. No waiver by any party of any default, misrepresentation, or breach of
warranty or covenant hereunder, whether intentional or not, shall be deemed to
extend to any prior or subsequent default, misrepresentation, or breach of
warranty or covenant hereunder or affect in any way any rights arising by virtue
of any prior or subsequent such occurrence.

     

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    11.
SEVERABILITY. Any term or provision of this Agreement that is invalid or
unenforceable in any situation in any jurisdiction shall not affect the validity
or enforceability of the remaining terms and provisions hereof or the validity
or enforceability of the offending term or provision in any other situation or
in any other jurisdiction.

    

    12.
CONSTRUCTION. The parties have participated jointly in the negotiation of this
Agreement. In the event an ambiguity or question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the parties
and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any of the provisions of this Agreement.
Any reference to any federal, state, local, or foreign statute or Law shall be
deemed also to refer to all rules and regulations promulgated thereunder, unless
the context requires otherwise. The word “including” shall mean including
without limitation.

    

    13.
EXPENSES. Each party will bear his or its own costs and expenses (including, but
not limited to, legal fees and expenses) incurred in connection with this
Agreement and this Transaction.

    

    14.
SUCCESSION AND ASSIGNMENT. This Agreement shall be binding upon and inure to the
benefit of the parties named herein and their respective successors and
permitted assigns. No party may assign either this Agreement or any of his or
its rights, interests, or obligations hereunder without the prior written
approval of the Buyer and the Seller.

    

    15.
SPECIFIC PERFORMANCE. Each of the parties acknowledges and agrees that the other
parties would be damaged irreparably in the event any of a material breach of
this Agreement. Accordingly, each of the parties agrees that the other parties
shall be entitled to an injunction or injunctions to prevent breaches of the
aforementioned provisions of this Agreement and to enforce specifically this
Agreement and the terms and provisions hereof in any action instituted in any
court of the United States or any state thereof having jurisdiction over the
parties and the matter, in addition to any other remedy to which they may be
entitled, at law or in equity.

    

    16.
SEVERABILITY. Any term or provision of this Agreement that is invalid or
unenforceable in any situation in any jurisdiction shall not affect the validity
or enforceability of the remaining terms and provisions hereof or the validity
or enforceability of the offending term or provision in any other situation or
in any other jurisdiction.

    

    17.
TERMINATION. This Agreement may be terminated upon the written consent of all
Parties and shall automatically terminate in the event a Closing shall not have
occurred by August 20,
2009.

     

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.

     

     

    
      	 
      	
              “Buyer”

            

    

     

     

    
      	 
      	
              By: /s/ Rick
Plote

            
	 
      	
              Name:
      Rick Plote, President

            

    

      

     

    
      	 
      	
              “Seller”

            

    

     

    
      	 
      	
              Bio-Matrix
      Scientific Group, Inc.,

            
	 
      	
              a Delaware
      corporation 

            

    

     

     

    
      	 
      	
              By:
      /s/ David
    Koos

            
	 
      	
              David
      R. Koos, Chairman and CEO

            

    

    

    

    

    

    

    

    

    
      
         

      

      
        12jbc_ex10-2.htm

    

    Exhibit
10.2

    STOCK
CANCELLATION AGREEMENT

    

    THIS
STOCK CANCELLATION AGREEMENT (the “Agreement”) is entered into and is effective
on this 16th  day
of June 2009 by and between JB Clothing Corporation, a Nevada corporation with
principal address at 47 Fountainhead Circle, Henderson, Nevada 89052 (the
“Buyer”), Bio-Matrix Scientific Group, Inc., a Delaware corporation with
principal address at 8885 Rehco Road, San Diego, California
92121   (the “Seller”) and Rick Plote, a stockholder of the Buyer
with principal address at 47 Fountainhead Circle, Henderson, Nevada 89052
(“Stockholder”). As used in this Agreement, the term, “Parties” shall refer to
the Buyer, the Seller, and Stockholder, jointly.

    

    WHEREAS:

    

    
      	
              A.

            	
              The
      Buyer and the Seller are parties to the certain Stock Purchase Agreement,
      dated June 16, 2009 (the “Principal Purchase Agreement”) and the Parties
      seek to affect the purposes of the Principal Purchase
      Agreement.

            

    

    

    
      	
              B.

            	
              The
      Stockholder holds and owns all right, title, and interest to Ten Million
      (10,000,000) shares of the common stock of Buyer (the “Shares to be
      Cancelled) and Stockholder seeks to arrange for Buyer to cancel the Shares
      to be Cancelled at Closing of the Principal Purchase
      Agreement.

            

    

    

    
      	
              C.

            	
              Stockholder
      acknowledges that he has entered into this Agreement on the basis of
      independent legal and financial
advice.

            

    

    

    
      	
              D.

            	
              The
      Parties have completed their negotiations and subject to the terms and
      conditions set forth herein, hereby enter into this
    Agreement.

            

    

    

    NOW
THEREFORE THE PARTIES AGREE AS FOLLOWS:

    

    ARTICLE
I

    DEFINITIONS

    

    
      	 
      	
              1.0

            	
              Obligations of Stockholder.
      In consideration of good and valuable consideration received and
      accepted by Stockholder, the receipt and sufficiency of which is fully
      acknowledged, Stockholder agrees that on or before June 19, 2009,
      Stockholder shall deliver to the Escrow Agent (as defined in that certain
      Escrow Agreement, dated June 16, 2009) an aggregate of ten million
      (10,000,000) shares of the common stock of the Buyer owned and held by him
      (the “Shares to be Cancelled”). The Parties agree that all of the Shares
      to be Cancelled shall, at the Closing (as defined in the Principal
      Purchase Agreement) shall be delivered to the Buyer’s stock transfer agent
      and cancelled.

            

    

    

    
      	 
      	
              2.0

            	
              Authorization of
      Transaction. The Stockholder warrants and represents that he has
      full power and authority to execute and deliver this Agreement and to
      perform his obligations hereunder. This Agreement constitutes the valid
      and legally binding obligation of the Stockholder enforceable in
      accordance with its terms and conditions. No broker’s fees or commissions
      are or will be due to any third party and all of the Shares to be
      Cancelled are, and will be at Closing, free from the claims and interests
      of any third parties.

            

    

    

    
      	 
      	
              3.0

            	
              Expenses. Each party
      will bear his or its own costs and expenses (including, but not limited
      to, legal fees and expenses) incurred in connection with this Agreement
      and all transactions contemplated
hereby.

            

    

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 
      	
              4.0

            	
              Entire Agreement. This
      Agreement (including the documents referred to herein) constitutes the
      entire agreement among the parties and supersedes any prior
      understandings, agreements, or representations by or among the parties,
      written or oral, to the extent they related in any way to the subject
      matter hereof.

            

    

    

    
      	 
      	
              5.0

            	
              Succession and
      Assignment. This Agreement shall be binding upon and inure to the
      benefit of the parties named herein and their respective successors and
      permitted assigns. No party may assign either this Agreement or any of his
      or its rights, interests, or obligations hereunder without the prior
      written approval of the Buyer and the
Seller.

            

    

    

    
      	 
      	
              6.0

            	
              Counterparts. This
      Agreement may be executed in one or more counterparts, each of which shall
      be deemed an original but all of which together will constitute one and
      the same instrument.

            

    

    

    
      	 
      	
              7.0

            	
              Headings. The section
      headings contained in this Agreement are inserted for convenience only and
      shall not affect in any way the meaning or interpretation of this
      Agreement.

            

    

    

    
      	 
      	
              8.0

            	
              Governing Law. This
      Agreement shall be governed by and construed in accordance with the
      domestic Laws of the State of California as if this Agreement were fully
      performed and all obligations recited herein were undertaken solely within
      the State of California without giving effect to any choice or conflict of
      Law provision or rule (whether of the State of California or any other
      jurisdiction) that would cause the application of the Laws of any
      jurisdiction other than the State of California. Any dispute or claims
      made under this Agreement or any attempt to enforce the terms of this
      Agreement shall be resolved in the courts
      of  California

            

    

    

    
      	 
      	
              9.0

            	
              Amendments and Waivers.
      No amendment of any provision of this Agreement shall be valid unless the
      same shall be in writing and signed by the Buyer and the Seller. No waiver
      by any party of any default, misrepresentation, or breach of warranty or
      covenant hereunder, whether intentional or not, shall be deemed to extend
      to any prior or subsequent default, misrepresentation, or breach of
      warranty or covenant hereunder or affect in any way any rights arising by
      virtue of any prior or subsequent such
  occurrence.

            

    

    

    
      	 
      	
              11.0

            	
              Severability. Any term
      or provision of this Agreement that is invalid or unenforceable in any
      situation in any jurisdiction shall not affect the validity or
      enforceability of the remaining terms and provisions hereof or the
      validity or enforceability of the offending term or provision in any other
      situation or in any other
jurisdiction.

            

    

    

    
      	 
      	
              12.0

            	
              Specific Performance.
      Each of the parties acknowledges and agrees that the other parties would
      be damaged irreparably in the event any of a material breach of this
      Agreement. Accordingly, each of the parties agrees that the other parties
      shall be entitled to an injunction or injunctions to prevent breaches of
      the aforementioned provisions of this Agreement and to enforce
      specifically this Agreement and the terms and provisions hereof in any
      action instituted in any court of the United States or any state thereof
      having jurisdiction over the parties and the matter, in addition to any
      other remedy to which they may be entitled, at law or in
      equity.

            

    

     

    
 

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.

    

    
      	 
      	
              “Buyer”

            	 
      
	 
      	 
      	 
      
	 
      	
              By:
      /s/ Rick
    Plote

            
	 
      	
              Name:
      Rick Plote, President

            

    

    

    

    
      	 
      	
              “Buyer”

            
	 
      	 
      
	 
      	
              By:
      /s/ Rick
    Plote

            
	 
      	
              Name:
      Rick Plote, President

            
	 
      	 
      
	 
      	 
      
	 
      	
              “Seller”

            
	 
      	 
      
	 
      	
              By:
      /s/ David
    Koos

            
	 
      	
              David
      R. Koos, Chairman and CEO

            

    

    

    

    
      	 
      	
              “Stockholder”

            

    

    

    
      	 
      	
              By:
      /s/ Rick
    Plote

            
	 
      	
              Name:
      Rick Plote, an individual

            

    

    

    

    

    

    

    

    

    
      
         

      

      
        3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]