Document:

CONSULTING AGREEMENT

 

 

THIS AGREEMENT (the “Agreement”), is made and entered into as of this 14th day of January, 2005, by and between Mirador Consulting, Inc., a Florida corporation, with offices at 5499 N. Federal Hwy, Suite D, Boca Raton, Florida 33487 (“Mirador” or the “Consultant”), and Alliance Recovery Corporation, a Delaware corporation, with offices at 390 1285 N. Telegraph Road, MI 48162  (the “Company”) (together the “Parties”).

 

WHEREAS, Consultant is in the business of providing services for management consulting, business advisory, shareholder information and public relations; 

 

WHEREAS, the Company deems it to be in its best interest to retain Consultant to render to the Company such services as may be needed; and

 

WHEREAS, the Parties desire to set forth the terms and conditions under which Consultant shall provide services to the Company.

 

NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, and other valid consideration, receipt of which is hereby acknowledged, the Parties agree as follows:

 

Term of Agreement

 

The Agreement shall remain in effect from the date hereof through the expiration of a period of one year from the date hereof (the “Term”), and thereafter may be renewed upon the mutual written consent of the Parties. 

 

Nature of Services to be rendered.

 

During the Term and any renewal thereof, Consultant shall: (a) provide the Company with corporate consulting services on a best efforts basis in connection with corporate finance, corporate finance relations, introductions to other financial relations companies and other financial services; (b) contact the Company’s existing stockholders, responding in a professional manner to their questions and following up as appropriate; and (c) use its best efforts to introduce the Company to various securities dealers, investment advisors, analysts, funding sources and other members of the financial community with whom it has established relationships, and generally assist the Company in its efforts to enhance its visibility in the financial community (collectively, the “Services”).

 

It is acknowledged and agreed by the Company that Consultant carries no professional licenses, and is not rendering legal advice or performing accounting services, nor acting as an investment advisor or brokerage/dealer within the meaning of the applicable state and federal securities laws. The Services of Consultant shall not be exclusive nor shall Consultant be required to render any specific number of hours or assign specific personnel to the Company or its projects.

 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

Disclosure of Information

 

Consultant agrees as follows:

The Consultant shall NOT disclose to any third party any material non-public information or data received from the Company without the written consent and approval of the Company other than: (i) to its agents or representatives that have a need to know in connection with the Services hereunder; provided such agents and representatives have a similar obligation to maintain the confidentiality of such information; (ii) as may be required by applicable law; provided, Consultant shall provide prompt prior written notice thereof to the Company to enable the Company to seek a protective order or otherwise prevent such disclosure; and (iii) such information as becomes publicly known through no action of the Consultant, or its agents or representatives.

 

Following receipt of written notice from the Company of a filing in connection with a proposed public offering of the securities of the Company, and until the Company informs the Consultant that such offering has been completed or has terminated, the Consultant shall not engage in any public relations efforts on behalf of the Company without approval of counsel for the Company and counsel for the underwriter(s), if any.

 

Compensation.

 

Upon execution of the Agreement, the Consultant shall purchase and the Company will issue to the Consultant 300,000 shares (three hundred thousand) of the Company’s restricted common stock for a total purchase price of three hundred dollars ($300.00) (the “Restricted Stock”) as per the Investment Representation Letter (incorporated by reference into the Agreement and attached as Addendum B);

 

During the Term of this Agreement, the Company will pay to the Consultant the sum of two thousand ($2,000.00) dollars per month; provided, however that such payment for the first month shall be due and payable upon the execution of this Agreement. 

 

Representations and Warranties of the Consultant.

 

In order to induce the Company to enter into this Agreement, the Consultant hereby makes the following unconditional representations and warranties:

 

In connection with its execution of and performance under this Agreement, the Consultant has not taken and will not take any action that will cause it to become required to make any filings with or to register in any capacity with the Securities and Exchange Commission (the “SEC”), the National Association of Securities Dealers, Inc. (the “NASD”), the securities commissioner or department of any state, or any other regulatory or governmental body or agency.

 

Neither the Consultant nor any of its principals is subject to any sanction or restriction imposed by the SEC, the NASD, any state securities commission or department, or any other regulatory or governmental body or agency, which would prohibit, limit or curtail the Consultant’s execution of this Agreement or the performance of its obligation hereunder.

The Consultant’s purchase of shares pursuant to this Agreement is an investment made for its own account. The Consultant is permitted to provide consulting services to any corporation or entity engaged in a business identical or similar to the Company’s. 

 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

Duties of the Company.

 

The Company will supply Consultant, on a regular basis and timely basis, with all approved data and information about the Company, its management, its products, and its operations as reasonably requested by Consultant and which the Company can obtain with reasonable effort; and Company shall be responsible for advising Consultant of any facts which would affect the accuracy of any prior data and information previously supplied to Consultant so that the Consultant may take corrective action.

 

The Company shall promptly supply Consultant with full and complete copies of all filings with all federal and state securities agencies; with full and complete copies of all stockholder reports and communications whether or not prepared with the assistance of Consultant; with all data and information supplied to any analyst, broker-dealer, market maker, or other member of the financial community and with all product/services brochures, sales materials, etc. filed or prepared by the Company after the date of this Agreement. Company shall supply to Consultant, within 15 days of execution of this Agreement, with a list of all stockbrokers and market makers active in the stock of Company, and a complete list of all shareholders. 

 

The Consultant’s reports are not intended to be used in the offering of securities. Accordingly, the Company agrees as follows:

 

Company will notify Consultant in writing a minimum of thirty (30) days prior to making any private or public offering of securities, including but not limited to an offering registered on form S-8 or made pursuant to Regulation S or Regulation D.

 

Company will not utilize any Consultant reports in connection with any offering (public or private) of securities without the prior written consent of Consultant.

 

Representations and Warranties of the Company.

 

In order to induce the Consultant to enter into this Agreement, the Company hereby makes the following unconditional representations and warranties:

 

The Company is not subject to any restriction imposed by the SEC or by operation of the 1933 Act, the Exchange Act of 1934, as amended (the “1934 Act”) or any of the rules and regulations promulgated under the 1933 Act or the 1934 Act which prohibit its execution of this Agreement or the performance of its obligations to the Consultant set forth herein.

 

The Company has not been sanctioned by the SEC, the NASD or any state securities commissioner or department in connection with any issuance of its securities. All payments required to be made on time and in accordance with the payment terms and conditions set forth herein.

 

Compliance with Securities Laws

 

The Parties acknowledge and agree that the Company is subject to the requirements of the 1934 Act, and that the 1933 Act, the 1934 Act, the rules and regulations promulgated thereunder and the various state securities laws (collectively, “Securities Laws”) impose significant burdens and limitations on the dissemination of certain information about the Company by the Company and by persons acting for or on behalf of the Company. Each of the Parties agrees to comply with all applicable Securities Laws in carrying out its obligations under the Agreement; and without limiting the generality of the foregoing, the 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

Company hereby agrees (i) all information about the Company provided to the Consultant by the Company, which the Company expressly agrees may 

be disseminated to the public by the Consultant in providing any public relations or other services pursuant to the Agreement, shall not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements made, in light of the circumstances in which they were made, not misleading, (ii) the Company shall promptly notify the Consultant if it becomes aware that it has publicly made any untrue statement of a material fact regarding the Company or has omitted to state any material fact necessary to make the public statements made by the Company, in light of the circumstances in which they were made, not misleading, and (iii) the Company shall promptly notify the Consultant of any “quiet period” or “blackout period” or other similar period during which public statements by or on behalf of the Company are restricted by any Securities Law. Each
Party (an “indemnifying party”) hereby agrees, to the full extent permitted by applicable law, to indemnify and hold harmless the other Party (the “indemnified party”) for any damages caused to the indemnified party by the indemnifying party’s breach or violation of any Securities Law, except to the extent that the indemnifying party’s breach or violation of a Securities Law is caused by the indemnified party’s breach or violation of the Agreement, or any Securities Law.

 

Issuance of Restricted Stock to Consultant

 

The Restricted Stock shall be issued as fully-paid and non-assessable securities. The Company shall take all corporate action necessary for the issuance Restricted Stock, to be legally valid and irrevocable, including obtaining the prior approval of its Board of Directors.

 

Expense Reimbursement.

 

Consultant shall be entitled to receive cash reimbursement, and the Company shall provide cash reimbursement, of all reasonable and necessary cash expenses paid by the Consultant on behalf of the Company in performance of its own duties hereunder. Such expenses shall include, without limitation, reasonable expenses for communications, deliveries and travel. In no event, however will the Consultant incur on behalf of the Company any expense without the prior written consent of the Company.

 

Indemnification of Consultant by the Company.

 

The Company acknowledges that the Consultant relies on information provided by the Company in connection with the provisions of Services hereunder and represents that said information does not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements made, in light of the circumstances in which they were made, not misleading, and agrees to hold harmless and indemnify the Consultant for claims against the Consultant as a result of any breach of such representation and for any claims relating to the purchase and/or sale of the Company’s securities occurring out of or in connection with the Consultant’s relationship with the Company including, without limitation, reasonable attorney’s fees and other costs arising out of any such claims; provided, however, that the Company will not 

Be liable in any such case for losses, claims, damages, liabilities or expenses that arise from the gross negligence or willful misconduct of Consultant. 

 

Indemnification of the Company by the Consultant.

 

The Consultant shall indemnify and hold harmless the Company and its principals from and against any and all liabilities and damages arising out of any the Consultant’s gross negligence or intentional breach of its representations, warranties or agreements made hereunder. 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

Applicable Law.

 

It is the intention of the parties hereto that this Agreement and the performance hereunder and all suits and special proceedings hereunder be construed in accordance with and under and pursuant to the laws of the State of Florida and that in any action, special proceeding or other proceedings that may be brought arising out of, in connection with or by reason of this Agreement, the law of the State of Florida shall be applicable and shall govern to the exclusion of the law of any other forum, without regard to the jurisdiction on which any action or special proceeding may be instituted. 

 

Legal Disputes.

 

Any and all conflicts, disputes and disagreements arising out of or in connection with any aspect of the Agreement shall be subject to the jurisdiction of state court, Palm Beach County, Florida.

 

Entire Understanding/Incorporation of other Documents.

 

The Agreement contains the entire understanding of the Parties with regard to the subject matter hereof, superseding any and all prior agreements or understandings whether oral or written, and no further or additional agreements, promises, representations or covenants may be inferred or construed to exist between the Parties.

 

No Assignment or Delegation without Prior Approval.

 

No portion of the Agreement or any of its provisions may be assigned, nor obligations delegated, to any other person or party without the prior written consent of the Parties except by operation of law or as otherwise set forth herein.

 

Survival of Agreement.

 

The Agreement and all of its terms shall inure to the benefit of any permitted assignees of or lawful successors to either Party.

 

Independent Contractor.

 

Consultant agrees to perform its consulting duties hereto as an independent contractor. Nothing contained herein shall be considered to as creating an employer-employee relationship between the parties to this Agreement.

 

No Amendment except in Writing.

 

Neither the Agreement nor any of its provisions may be altered or amended except in a dated writing signed by the Parties.

 

Waiver of Breach.

 

No waiver of any breach of any provision hereof shall be deemed to constitute a continuing waiver or a waiver of any other portion of the Agreement.

 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

Severability of the Agreement.

 

Except as otherwise provided herein, if any provision hereof is deemed by arbitration or a court of competent jurisdiction to be legally unenforceable or void, such provision shall be stricken from the Agreement and the remainder hereof shall remain in full force and effect.

 

Termination of the Agreement. 

 

Either Party may terminate the Agreement, with or without cause, by providing a thirty (30) day written notification to the other Party. The Agreement will terminate thirty (30) days following the date of receipt of the written notification by the non-terminating party (“Date of Termination”). In the event of termination of the Agreement by the Company, the Consultant shall be entitled to keep any and all fees, Company stock or other compensation it received from the Company under the Agreement prior to the Date of Termination. 

 

Counterparts and Facsimile Signature.

 

This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. Execution and delivery of this Agreement by exchange of facsimile copies bearing the facsimile signature of a party hereto shall constitute a valid and binding execution and delivery of this Agreement by such party. Such facsimile copies shall constitute enforceable original documents.

 

No Construction against Drafter.

 

The Agreement shall be construed without regard to any presumption or other requiring construction against the Party causing the drafting hereof.

 

                

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement, effective as of the date set forth above.

.

 

 

	
            Alliance Recovery Corporation
 	
            Mirador Consulting, Inc.
 

 

 

 

	
            By:_____________________________  
 	
            By:____________________________
 
	
             
	
            Peter Vaisler, CEO  
 	
            Brian S. John, President
 	
             

					

 

 

 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

 

INVESTMENT REPRESENTATION LETTER

(ADDENDUM B)

 

The undersigned subscriber, Mirador Consulting, Inc., (the “Subscriber”) is acquiring 300,000 shares of the common stock (the “Shares”) of Alliance Recovery Corporation (the “Company”) for Three Hundred Dollars ($300.00) in connection with the Consulting Agreement, dated January 14th 2005, between the Subscriber and the Company. In order to induce the Company to issue the shares to the Subscriber, the Subscriber hereby makes the following representations, gives the following warranties, and acknowledges the following information:

 

1.              The Subscriber represents that it has full power and authority to execute this statement and make the representations contained herein. The Subscriber understands that the Company is relying on this statement in issuing it the Shares.

 

2.              The shares are being purchased solely for investment purposes, for the Subscriber’s own account, and not with a view to, or for sale in conjunction with, any distribution of the shares within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). The Subscriber further represents that it does not have any contract, undertaking or arrangement with any person to sell, transfer or grant participation to such person or to any third person, with respect to any of the Shares. 

 

3.             The Subscriber acknowledges that the Shares have not been registered under the Securities Act and are to be issued to the Subscriber in reliance upon one or more exemptions from registration contained in the Securities Act and applicable state securities laws. The Subscriber has no right to demand the registration of the Shares to permit them to be resold, and no representations about subsequent registrations have been made by the Company. The Subscriber acknowledges that the Shares cannot be transferred except pursuant to a registration under the Securities Act or pursuant to an exemption from the Securities Act deemed to be lawfully available. In this connection, the Subscriber represents that it is familiar with SEC Rule 144 as presently in effect, and understand the resale limitations imposed thereby and by the Securities Act.

 

4.              The Subscriber acknowledges that the exemption provided by Rule 144 under the Securities Act provide for limited sale of unregistered shares but may not be available to the Subscriber at the time he or she may desire to sell the shares. No representations have been made to the Subscriber that any part of the shares will be saleable Pursuant to Rule 144 at any particular time.

 

5.              The Subscriber has had an opportunity to ask questions of and receive answers from the Company regarding the Company, its business and prospects and the terms and conditions of the sale of the Shares. It believes it has received all the information it considers necessary or appropriate for deciding whether to acquire the Shares.

 

6.              The Shares represent a speculative investment involving a high degree of risk loss of the purchase price. The Subscriber has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of an investment in the Shares and of making an informed investment decision. The Subscriber is able to bear the economic risk of the investment in the Share, to hold the Shares an indefinite period of time, and to afford a complete loss of the purchase price.

 

7.              The Shares will be represented by a certificate bearing a prominent legend setting forth the restricted nature of the Shares as deemed appropriate by the Company’s counsel.

 

8.              The Subscriber will not sell, transfer, pledge or otherwise dispose of or encumber any of the Shares it receives unless and until (i) such shares are subsequently registered under the Securities Act and each applicable state securities law; or (ii) (1) an exemption from such registration is available thereunder, and (2) the undersigned has notified the Company of the proposed transfer and have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such transfer will not require registration of such shares under the Act. The undersigned understands that the Company is not obligated, and does not intend, to register any such shares under the Act or any state securities laws. 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.

 

 

 

 

 

 ACCEPTED BY

 

	
            Mirador Consulting, Inc.
 	
            Alliance RecoveryCcorporation
 

 

 

 

	
            By:_______________________________  
 	
            By:______________________________
 
	
             
	
            Brian S. John, President  
 	
            DATE  
 	
            Peter Vaisler,  CEO
 	
            DATE
 	
             

							

 

 

 

 

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Consulting Agreement 2005 for Alliance Recovery Corporation.Exhibit 10.1

Exhibit
10.1

 

PURCHASE
AGREEMENT

This
purchase AGREEMENT entered
into as of April 15, 2005 by and
between ISIP
Telecom INC., a
Florida Corporation (the "Buyer"), and Voip
Inc. (the
“Selling Shareholders”) Melinda Delgado individual and sole shareholder of
Voip
Inc. (collectively
the
"Corporation"), 

WHEREAS, the
Selling Shareholders, among other things, own a Telecommunication Company, own
certain domain names, a database of clients, revenues of $1 million
USD.

 

 WHEREAS, the
Selling Shareholders desire to sell and the Buyer desires to purchase all of the
outstanding stock and assets of the Corporations, upon the terms and conditions
hereinafter set forth; 

WHEREAS,
Melinda
Delgado the sole shareholders of the Corporation.

NOW,
THEREFORE, in
consideration of the mutual promises and covenants herein set forth, and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

	1.	Definitions.

"Acquired
Assets": means
all of the right, title, and interest that the Corporation possess in those
assets identified on Schedule
A hereto,
which, by virtue of the acquisition of the stock of the Corporation, will be
acquired indirectly by the Buyer.

"Buyer”: means
ISIP Telecom Inc., as set forth in the preface above.

“Closing”: means
the day the Selling Shareholder and Buyer agree to transfer stock of respective
companies.

"Intellectual
Property”:
means

(a) All
inventions (whether patentable or unpatentable and whether or not reduced to
practice), all improvements thereto, and all patents, patent applications, and
patent disclosures, together with all reissuances, continuations,
continuations-in-part, revisions, extensions, and reexaminations thereof,

(b) All
Internet websites owned by the Corporation: 

(c) All
trademarks, service marks, trade dress, logos, trade names, and corporate names,
together with all translations, adaptations, derivations and combinations
thereof and including all goodwill associated therewith, and all applications,
registrations, and renewals in connection therewith,

 

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    (d) All mask
works and all applications, registrations, and renewals in connection therewith,

 

    (e) All trade
secrets and confidential business information (including ideas, research and
development, know-how, formulas, compositions, manufacturing and production
processes and techniques, technical data, designs, drawings, specifications,
customer and supplier lists, pricing and cost information, and business and
marketing plans and proposals),

 

    (f) All
computer software (including data and related documentation), 

 

    (g) All other
proprietary rights, and

 

    (h) All
copies and tangible embodiments thereof (in whatever form or
medium).

“Liabilities”: means
all debt of the Corporation owed to suppliers, customers, employees and accounts
payable listed on Balance Sheet or a list of liabilities

prepared
as of the date of Closing.

 

    "Selling
Shareholders": means
Melinda Delgado

 

    “Stock”: means
all shares from Selling Shareholders and shares issued to Selling Shareholders
by ISIP Telecom Inc. as applicable of the Corporation being
acquired.

 

    “Website”: means
Internet site promoting business of Voip INC,

	2.    
         	
      Acquisition
      of Stock. On
      the Closing Date, Buyer will acquire all of the outstanding shares of
      capital stock of the Corporations (the” Acquisition”) on the terms and
      conditions set forth in this Agreement.

		3.	Consideration. 

 

The
purchase price for the stock of the Corporations will be the issuance to the
Selling Shareholder, in a ratio to be determined by Seller, of an aggregate of
5,000,000 shares of ISIP, Inc. common Stock. All of these shares will be
restricted, and will
be eligible for piggyback registration rights on ISIP’s next Registration
Statement to be filed with the SEC.

 

3.1
ISIP Telecom
will acquire Voip Inc.:

 

	·  	
      Voip
      Inc. will continue to be fully independent in its business plan,
      accounting, and it will continue to operate under the name of VOIP
      INC

	·  	
      Voip
      Inc. management will be named to the Board of Directors of
      ISIP

	·  	
      ISIP
      and Voip Inc. will work together to developed a business plan to further
      develop the company. 

 

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		4.	The
      Closing. 

(a) The
Closing shall take place at the offices of BUYER no later than April
28, 2005, unless
the parties agree in writing to extend the closing date to another place or
time. 

(b) The
following will be delivered by Selling Shareholders and the Corporations at
Closing:

	·  	
      All
      certificates for outstanding shares of Corporations’ Stock, duly endorsed
      for transfer

	·  	
      All
      corporate records and minute books of the
Corporations

	·  	
      All
      financial and corporate books and records of the Corporations, including
      bank account information.

(c) The
following will be delivered by Buyer at Closing:

	·  	
      Original
      Certificates for the Shares duly issued and registered in the respective
      names of the Selling shareholders.

	5.      
       	
      Representation
      and Warranties of Selling Shareholders. 

Selling
Shareholders represent and warrant to Buyer as follows:

		5.1	Corporate
      Compliance; Authorization 

a.  Compliance.
The
Corporations are duly and validly in existence and are in good standing
in. To the
best knowledge of the Selling Shareholders, the Corporation is in violation,
breach, or default of any term of its Certificate of Incorporation or By-laws,
or of any material term or provision of any contract, agreement, judgment,
decree, order, statute, rule or regulation applicable to or binding upon the
Corporation, the breach or default of which would have a material adverse affect
on either of the Corporation’s business or financial condition.

b.  Authorization.
The
Selling Shareholders is the sole shareholders of the Corporation and have all
requisite power and authority to execute, deliver and perform their respective
obligations under this Agreement, and all corporate action on the part of the
Corporations, their officers and directors, necessary for the sale and transfer
of the Stock has been taken. This Agreement, the Certificate of Incorporation of
the Corporations, and all agreements attached hereto as Exhibits, are each
legal, valid and binding obligations of the respective Corporations enforceable
in accordance with their respective terms, except as such enforcement may be
limited by bankruptcy, insolvency, reorganization, moratorium or other laws and
equitable principles relating to or affecting the enforcement of creditors’
rights in general and by general principles of equity. The execution, delivery
and compliance with the performance by the Corporations of this Agreement do not
and will not (1) conflict with or result in a breach of the terms, conditions
and provisions of any contractual obligation, (2) result in the creation of any
material lien, security interest, charge or encumbrance upon the Stock or assets
of the Corporations. 

 

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5.2        
Absence
of Litigation.
In good
faith and to the best of the knowledge of Selling Shareholders, after due
inquiry and investigation, there are no (a) actions proceedings, arbitrations or
investigations pending or any threat thereof, or verdicts or judgments entered
against the Corporation before any court or before any administrative agency or
officer which might result in any material adverse change in the business,
properties or condition, financial or otherwise, of the Corporation or (b)
violations by the Corporation of any foreign, federal, state or local laws,
regulations or order, including but not limited to laws pending to workplace
safety and environmental clean-up, the violation of which would have a material
adverse effect on the business of the Corporation.

 

               
5.3   
     Tax
Returns and Payments.
In good
faith and to the best knowledge of Selling Shareholder, the Corporation is not
in violation of the filing requirements for all federal and state income tax
returns that are required to be filed by the Corporation. 

 

               
5.4.1      Material
Licenses, Agreements and Related Party Agreements.

 

              
To the Best knowledge of Selling Shareholder:

a.  Schedule
5.4 hereto
identifies each Material Contract of the Corporation (the “Contracts”). All
Contracts are in writing. Selling Shareholder have delivered to Buyer accurate
and complete copies of all Contracts identified in Exhibit B, including all
amendments thereto;

b.  each
Contract is valid and in full force and effect, and is enforceable by The
Corporation in accordance with its terms;

c.  except as
set forth in Exhibit B :

(1)  No person
acting for the Corporation has violated or breached, or declared or committed
any default under, any Contract;

(2)  No event
has occurred, and no circumstance or condition exists, that likely would (with
or without notice or lapse of time) (A) result in a violation or breach of
any of the provisions of any Contract, 

(B) give
any Person the right to declare a default or exercise any remedy or hinder any
Contract, (C) give any Person the right to accelerate the maturity or
performance of any Contract, or (D) give any Person the right to cancel,
terminate or modify any Contract;

(3)  The
Corporation has not waived any of their respective rights under any
Contract.

 

4

 

d.  each
person against which the Corporation have or may acquire any rights under any
Contract is solvent and is able to satisfy all of such person’s current and
future monetary obligations and other obligations and liabilities to the
Corporation;

e.  ,
except as
set forth in Schedule
5.4:

(1)  The
Corporation has never guaranteed or otherwise agreed to cause, insure or become
liable for, and has never pledged any of their respective assets to secure the
performance or payment of any obligation or other liability of any other person
except in the ordinary course of business; and

(2)  The
Corporation has never been a party to or bound by (A) any joint venture
agreement, partnership agreement, profit sharing agreement, cost sharing
agreement, loss sharing agreement or similar Contract, or (B) any Contract
that creates or grants to any person, or provides for the creation or grant of,
any stock appreciation right, phantom stock right or similar right or
interest.

f.  the
performance of the Contracts will not result in any violation of or failure to
comply with any legal requirement;

g.  except as
identified in Schedule
5.4 , no
person is materially renegotiating, or has the contractual right to materially
renegotiate, any amount paid or payable to either Corporation under any Contract
or any other term or provision of any Contract;

h.  the
Contracts identified in Schedule
5.4
constitute all of the Contracts necessary to enable the Corporation to conduct
their respective businesses in the manner in which such businesses are currently
being conducted and in the manner in which such businesses are proposed to be
conducted;

i.  except as
set forth in Schedule
5.4:
(i) the Contracts, including but not limited to those described in Exhibit
B, are legally valid, binding and enforceable agreements of the Corporation,
except as enforceability may be limited by bankruptcy and other similar laws
affecting creditors rights, and the other parties thereto; the Corporation are
not and no other party to any such Contract is in violation of or in default
under such Contracts and no event or circumstances have occurred which
constitute, or after notice or lapse of time or both would constitute, a
violation or default thereunder on the part of the Corporation or any other
party thereto or result in a right to accelerate or loss of rights; and such
Contracts will continue to be binding in accordance with their terms after the
Closing, assuming any consents listed in Exhibit B are obtained; (ii) the
Corporations have fulfilled all obligations required pursuant to each Contract
to have been performed by them, and the Seller has no reason to believe that the
Corporation will not be able to fulfill all of their obligations under the
Contracts which remain to be performed after the date hereof, and
(iii) none of the payments required to be made under any Contract has been
prepaid by more than 30 days prior to the due date of such payment thereunder
and the estimated cost to complete any Contract, plus expenses incurred by them
on that Contract, will not exceed the total Contract price.

 

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5.5           Material
Change.  
Since
April 1, 2005, there has not occurred:

a.  Any
material adverse change in the assets, liabilities, business, prospects,
condition (financial or otherwise), or operating results of either
Corporation;

b.  Any
material increase in the indebtedness or liabilities of the Corporation over the
level thereof;

c.  Any
material increase in the compensation (including, without limitation, the rate
of commissions) payable to, or any payment of a cash salary bonus to, any
officer, director or employee of, or consultant to, the
Corporation;

d.  Any
material change in the manner of keeping the book accounts or records of the
Corporation or in the accounting practices therein reflected; or

e.  Any
declaration or payment of any dividends or distribution to the Selling
Shareholders by the Corporations, any acquisition or redemption by the
Corporations of any of its equity securities or loan by the Corporations to any
of its security holders.

 

               
5.6           Leases. 
Corporation
has any
right, title or interest in, or any obligation or duty relating to, any real
estate or real property, except for its interest as a tenant, lessee, subtenant
or sub lessee under the lease for the Corporations’ principal place of business,
(the “Leased Premises”), attached as Schedule 5.6 hereto (the
“Lease”).

a.  (1)
Corporation has delivered to Buyer true and complete copies of the Lease, all
amendments and supplements thereto and all such non-disturbance agreements, if
any; (2) Corporation are the holders of the lessee’s interest, as
applicable, in the Lease and Corporations have not assigned any Lease or any
interest therein or subleased any portion of the Leased Premises; (3) the
Lease is in full force and effect; (4) Corporation are not and, to the best
of the knowledge of the Corporation and each Selling shareholder, the landlord
under the Lease is not in default under the Lease, and no event has occurred
which, with the giving of notice or passage of time or both, would constitute a
default by Corporation or, to the best of the knowledge of the Selling
Shareholders, the landlord under the Lease; and (5) neither the execution
or performance of this Agreement, with the consent of the landlord, in a form
reasonably acceptable to landlord and Buyer, will result in a breach of or
constitute a default under any of the Leases.

 

6

                                             

                                             
b.  The
buildings and improvements situated on and comprising part of the Leased
Premises, and all heating and air conditioning equipment and all plumbing,
electrical and other mechanical facilities which are part of, or which service,
such Leased Premises are, to the best of the knowledge of the Selling
Shareholder, in good operating condition and repair and do not require any
repairs other than routine maintenance, and with respect to the roof, free from
leaks.

c.  To the
best of Selling Shareholder’s knowledge, the Corporation has not received any
notice of any condemnation proceeding or any other proceeding in the nature of
eminent domain (a “Taking”) in connection with any of the Real Properties, and
to Corporation’s knowledge no Taking has been threatened.

d.  All
essential utilities (including water, sewer, gas, electricity and telephone
service) are available to the Leased Premises.

 

              
5.7           Title
to Assets.
The
Corporation owns, free and clear of encumbrances:

a.  All
assets reflected on the December 31, 2004 Unaudited Interim Balance Sheets
(except for inventory sold by the Corporations since December 31 2004, in the
ordinary course of business);

b.  All
assets acquired by the Corporations since December 31, 2004 (except for
inventory sold by the Corporation since December 31, 2004 in the Ordinary Course
of Business);

c.  All other
assets reflected in the Corporations’ books and records as being owned by the
Corporations.

	5.8         
       	
      Equipment,
      etc.

All
Switching equipment is lease from a company, also software for billing is
outsourced,

 

          
5.9           No
Liabilities.
Except
for the Lease, and the telephone leases, the Corporations are not subject to any
claims, demands, liens, agreements, contracts, covenants, promises, suits,
actions or cross-actions, causes of action, obligations, controversies,
disputes, costs, fees, losses, damages (both compensatory and exemplary or
punitive), judgments, orders, wrongful acts, and liabilities of whatever kind or
nature in law, equity, or otherwise, fixed or contingent.

	5.10        
       	
      Fees,
      Commissions and Expenses.
      The
      Buyer has made an agreement for brokerage commissions, compensation in
      connection with the transactions contemplated by this Agreement; Daniel
      Miroli will receive 2 million shares if
ISIP.

 

7

 

	5.11        
        	
      Validity
      of Issuance.
      The
      Stock to be purchased and sold pursuant to this Agreement, and delivered,
      will be duly and validly issued, fully paid and no assessable, and will be
      free and clear of any liens or encumbrances caused or created by the
      Selling Shareholder and, assuming the accuracy and completeness of the
      Buyer’s and the Corporation and Selling Shareholder representations
      hereunder, will have been issued in compliance with all the applicable
      state and federal securities laws.

	5.12         
       	
      Disclosure.
      Neither
      this Agreement, nor any of the schedules, attachments, exhibits, written
      statements, documents, certificates or other materials prepared or
      supplied by the Selling Shareholder with respect to the transactions
      contemplated hereby contain any untrue statements of a material fact or
      omit a material fact to make the statements contained herein or therein
      not misleading.

	5.13        
        	
      Private
      Offering.
      The
      offer to sell the Stock was directly communicated to the Buyer by the
      Selling Shareholder. At no time did the Selling Shareholder present to
      Buyer or any other person, or solicit Buyer or any other person with, any
      leaflet, newspaper or magazine article, radio or television advertisement,
      or any other form of general advertising or solicitation,
  

	6.0         
        	
      Buyer
      Representation.
      The
      Selling Shareholder has a reasonable basis to believe that representations
      and warranties of Buyer set forth in this Agreement are true and
      accurate.

		(a) 	Limitations
      on Resale or Transfer.
      Selling Shareholder understands and acknowledges that their ability to
      sell any of the shares of Stock may be limited by the lack of a ready
      market in which to sell the Stock, and that the certificates issued will
      carry the following legend:

“THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1993, OR APPLICABLE
STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL
SATISFACTORY TO THE BUYER, THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE
SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS OR RECEIPT OF AN
NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION THAT SUCH
REGISTRATION IS NOT REQUIRED.”

 

8

 

		b)	Access
      to Data.
      The
      Selling Shareholder has had an opportunity to discuss the Buyer’s
      business, management and financial affairs with its management and to
      obtain any additional information necessary or appropriate for deciding
      whether or not to purchase the Stock. Selling Shareholders acknowledge
      that the Buyer or any agent thereof has made no representation or
      warranties, oral and written, except as set forth in this Agreement.
      Selling Shareholder has availed themselves fully of all publicly available
      information on Buyer, including records available on EDGAR. investment
      contemplated herein.

 

		7.	Representations and Warranties of
      the Buyer.
      The Buyer represents and warrants to the Shareholder as follows: that the
      statements contained in this Section 5 are correct and complete as of the
      date of this Agreement and will be correct and complete as of the Closing
      Date (as though made then and as though the Closing Date were substituted
      for the date of this Agreement throughout this Section 5), except to the
      extent set forth in the Disclosure Schedule. The Disclosure Schedule will
      be arranged in paragraphs corresponding to the lettered and numbered
      paragraphs contained in this Section 5.

 

		7.1	Organization
      of the Buyer.
      The Buyer is a corporation duly organized and incorporated under the laws
      of the state of Florida, validly existing, and in good standing under the
      laws of the jurisdiction of its incorporation, 

 

		8.2	Authorization
      of Transaction.
      The Buyer has full power and authority (including full corporate power and
      authority) to execute and deliver this Agreement, and the other
      agreements, documents and instruments contemplated hereby, and to perform
      their respective obligations hereunder and hereunder. This agreement
      constitutes the valid and legally binding obligations of the Buyer, as the
      case may be, enforceable in accordance with their terms and
      conditions.

 

		8.3	Capitalization
      of Buyer.
      As of the 4/1/05 the authorized capital stock of Buyer consists of 100
      million common shares, of which 12,164,457 common shares are validly
      issued and outstanding to 500 shareholders; all are fully paid and
      nonassessable. The Buyers stock to be delivered as part of this purchase
      price will be validly issued, fully paid and nonassessable; and the Buyer
      has the power and authority to issue the same. The
      Buyer agrees to grant 25% stock ownership in ISIP to Invicta Group Inc.
      and will issue 6 million shares upon completion of this transaction;
      Invicta Group Inc. will have a non dilution position of ISIP, maintaining
      25% stock ownership in the company. ISIP has also agreed to pay Daniel
      Miroli 2 million shares of ISIP as a Broker. The total shares issued after
      the closing of this transaction will be 25,164,457 and leaving 74,835,543
      in ISIP treasury. 

 

 

		8.4	Authorization
      of the Sale
      The officers of Buyer who sign this agreement have the requisite capacity,
      power, and authority to do so. The signing and delivery of this Agreement
      and all related documents, by Buyer through its officers, and the
      performance of this agreement (i) does not violate any contract to which
      Buyer is a party; or (ii) violate any provisions of Buyer’s Articles of
      Association, or any of Buyer’s other governing documents or corporate
      documents.

 

9

 

		8.5	Binding
      Nature and Enforceability of Agreement
      Assuming that this Agreement is binding upon and enforceable against all
      other parties, this Agreement, the stock of Buyer, and all other documents
      that are signed by Buyer and delivered at the Closing, are legally binding
      upon, and enforceable against Buyer.

 

		8.6	Consents No
      authorization of, or registration or filing with, any court, Government,
      Entity, or person is required in connection with the signing, delivery or
      performance by Buyer of this Agreement, any exhibit, or any other
      agreement or document to be delivered by or on behalf of Buyer in
      connection with the Transaction of this Agreement (“The
      Transaction”)

 

		8.7	Brokers
      and Finders
      Daniel Miroli is the Broker, and has acted on behalf of Buyer in bringing
      about this transaction, (. For these services Mr. Daniel Miroli will be
      issued 2,000,000. Restricted common shares. 

 

		8.8	Liabilities
      of the Corporation on
      and after the Closing Date the Liabilities of the Corporation shall remain
      liabilities thereof and Selling Shareholders shall have no obligation,
      liability, or responsibility for the payment
thereof.

		9.	Termination.

		a.	This
      Agreement may be terminated at any time prior to the Closing
    Date:

		(1)	By
      the written agreement of Sellers and the Buyer;

		(2)	By
      either Party by written notice to the other parties if the transactions
      contemplated hereby shall not have been consummated pursuant hereto by
      5:00 p.m. on April 28, 2005, unless such date shall be extended by the
      written consent of Buyer;

		(3)	By
      either Party by written notice to the other parties if (i) the
      representations and warranties of the other Party shall not have been true
      and correct in all respects (in the case of a representation or warranty
      containing a materiality qualification) or in all material respects (in
      the case of a representation or warranty without a materiality
      qualification) as of the date when made, or (ii) any of the conditions set
      forth in Section 2 shall not have been, or if it becomes apparent that any
      of such conditions will not be, fulfilled by 5:00 p.m. on April 28
      2005

		(4)	In
      the event of the termination of this Agreement pursuant to Section 4, this
      Agreement shall become void, without any liability to any party in respect
      hereof or of the transactions contemplated hereby on the part of any party
      hereto, or any of its directors, officers, employees, agents, consultants,
      representatives, attorney’s advisers, or stockholders, and except for any
      liability resulting from such party’s breach of this
  Agreement.

 

10

 

		10.	Miscellaneous.

		a.	Successors
      and Assigns.
      Except as otherwise expressly provided herein, the provisions hereof shall
      inure to the benefit of, and be binding upon, the successors, assigns,
      heirs, executors and administrators of the parties
hereto.

		b.	No
      Third-Party Beneficiaries.
      The terms and provisions of this Agreement are intended solely for the
      benefit of each party hereto and their respective successors and assigns,
      and it are not the intention of the parties to confer third-party
      beneficiary rights upon any other person.

		c.	Survival
      of Agreements, Representations, etc.
      All warranties, representations, agreements and covenants made by a party
      herein or in any certificate or other instrument required to be delivered
      by or on behalf of a party in connection with this Agreement, shall be
      considered to have been relied upon by the other party and shall survive
      the Closing under this Agreement regardless of any investigation made by
      any party or information about any breach known to any party prior to the
      Closing; shall continue in full force and effect; and shall provide a
      basis for the remedies provided for herein or otherwise available to the
      non-breaching party.

No
representation or warranty contained herein shall be deemed to have been waived,
affected or impaired by any investigation made by with the knowledge of any
party to this Agreement. All statements in any such certificate or other
instrument delivered at or in connection with the Closing shall constitute
representations and warranties of the party making such delivery. Each
agreement, representation and warranty contained herein is independent of all
other agreements; representations and warranties contained herein (whether or
not covering an identical or a related subject matter) and must be independently
and separately complied with and satisfied. Exceptions or qualifications to any
agreement, representation or warranty contained herein shall not be construed as
exceptions or qualifications to any agreement, other warranty or
representation.

		d.	Entire
      Agreement.
      This Agreement and the exhibits attached hereto and the other documents
      delivered pursuant hereto constitute the full and entire understanding and
      agreement between the Sellers and Buyer with regard to the subjects hereof
      and thereof.

		e.	Amendments
      and Modifications.
      This Agreement may not be amended or modified other than by an agreement
      in writing signed by all of the parties.

		f.	Notice.
      Any notice, payment, report or other communication required or permitted
      to be given by one to any other party by this Agreement shall be in
      writing and either (i) served personally on the other party or parties;
      (ii) sent by express, registered or certified first class mail, postage
      prepaid, addressed to the other party or parties at its or their address
      or addresses as indicated next to their signatures below, or to such other
      address as any addressee shall have therefore furnished to the other
      parties by like notice; (iii) delivered by commercial courier to the other
      party or parties; or (iv) sent by facsimile with the original sent by U.S.
      Mail. Such notice shall be deemed received on the second day after
      transmittal if sent by one (1) day courier together with a transmission of
      such notice by facsimile if the recipient has the capability to receive a
      facsimile.

 

11

 

		g.	Statutory
      References. A
      reference in this Agreement to a statute or statutory provision shall mean
      such statute or statutory provision as it has been amended through the
      date as of which the particular Agreement provision is to take effect, or
      to any successor statute or statutory provision relating to the same
      subject as the statutory provision referred to in this Agreement, and to
      any then applicable rules or regulations promulgated
  thereunder.

		h.	Jurisdiction;
      Service of Process.
      Any action or proceeding seeking to enforce any provision of, or based on
      any right arising out of, this Agreement may shall be brought against any
      of the parties only in the courts of the State of Florida, County of Dade,
      or, if it has or can acquire the necessary jurisdiction, in the United
      States District Court for the Southern District of Florida, and each of
      the parties consents to the exclusive jurisdiction of such courts (and of
      the appropriate appellate courts) in any such action or proceeding and
      irrevocably waives any objection to venue made therein.

Process
in any action or proceeding referred to in the preceding sentence may be served
on any party anywhere in the world. The provisions of this Section shall also
apply to any actions involving directors, officers, Buyers, or controlling
persons and affiliates of Buyer brought by or against them in their respective
capacities as such.

		i.	Enforcement.
      The parties agree that irreparable damage would occur in the event that
      any of the provisions of this Agreement were not performed in accordance
      with their specific terms or were otherwise breached. Accordingly, it is
      agreed that the parties shall be entitled to seek an injunction or
      injunctions to prevent breaches of this Agreement and to enforce
      specifically the terms and provisions of this Agreement in any court of
      the United States located in the State of Florida or in any Florida state
      court, this being in addition to any other remedy to which they are
      entitled at law or in equity. 

In
addition, each of the parties hereto (a) consents to the personal jurisdiction
of any federal court located in the State of Florida or of any Florida state
court in the event any dispute arises out of this Agreement or any of the
transactions contemplated by this Agreement, (b) agrees that it will not attempt
to deny or defeat such personal jurisdiction by motion or other request for
leave from any such court, and (c) agrees that it will not bring any action
relating to this Agreement or any of the transactions contemplated by this
Agreement in any court other than a federal or state court sitting in the State
of Florida.

12

 

Recovery
of Fees by Prevailing Party. In the
event of a lawsuit to enforce or interpret the provisions of this Agreement, the
prevailing party shall pay the other party reasonable attorneys’ fees and other
costs and expenses including expert witness fees in such amount as the court
shall determine. In addition, such non-prevailing party shall pay reasonable
attorneys’ fees incurred by the prevailing party in enforcing, or on
appeal from, a judgment in favor of the prevailing party. The preceding sentence
is intended by the parties hereto to be severable from the other provisions of
this Agreement and to survive and not be merged into such
judgment.

Time
of the Essence. With
regard to all dates and time periods set forth or referred to in this Agreement,
time is of the essence.

Confidentiality;
Publicity. The
Sellers and Buyers acknowledge that the transaction described herein is of a
confidential nature and shall not be disclosed prior to the Closing except to
consultants, attorneys and advisors, or as required by law. The Sellers and
Buyers shall not make any public disclosure of the terms of this Agreement prior
to the Closing, except as required by law, such requirement to substantiated by
a written opinion of counsel. 

Construction. The
construction of this Agreement shall not take into consideration the party who
drafted or whose representatives drafted any portion of this Agreement, and no
canon of construction shall be applied that resolves ambiguities against the
drafter of a document. The parties acknowledge that competent counsel that each
has chosen to represent such party and each party has had a full opportunity to
comment upon and negotiate the terms of this Agreement advised them.

The
language used in this Agreement shall be deemed to be the language chosen by the
parties hereto to express their mutual intent as a result of arm’s length
bargaining.

Finder’s
Fee and Broker’s Fees. The
Sellers and Buyer hereto represent and warrant that they have retained a finder
or broker in connection with the transactions by this Agreement, and hereby
agrees to indemnify and to hold the other harmless from any liability for any
finder’s or broker’s fee to any broker or other person or firm (and the cost and
expenses of defending against such liability or asserted liability) for which
such indemnifying person, or any of its employees or representatives, are
responsible.

Titles
and Subtitles. The
titles of the Sections and subsections of this Agreement are for the convenience
of reference only and are not to be considered in construing this
Agreement.

Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall constitute one
instrument.

Applicable
Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of Florida.

IN
WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year hereinabove
first written.

 

	“SELLER”	 	 	
          “BUYER”

       

      ISIP
      Telecom Inc.

	 	 	 	 
	/s/ Melinda
      Delgado	 	 	/s/ R. David
      Scott, C.O.O.
	
      

      Melinda Delgado	 	 	
      

      R. David Scott, C.O.O.
		 	 	

 

13

EXHIBITS

Furniture,
equipment and fixtures.

Security
deposits

Lease

Computer
contracts

Liabilities
amount

Payroll
roster of employees

Sellers
customer list

Seller’s
accounts receivable

Material
changes

Consent
of landlord for lease

Information
on computer contracts

Verification
of ARC bond

Verification
the sellers are in good standing under the lease and other
contracts

Copies of
airline contracts

 

14

EXHIBIT
B

(Lease)

 

 

15

 

EXHIBIT C

(Capital
equipment and depreciation schedule)

16

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