Document:

exh10-35.htm

 

Exhibit 10.35

September 30, 2011

Ping Wang

Chief Financial Officer

China America Holdings, Inc.

Xi Lv Biao Industrial Park, Longdu Street,

Zhucheng City, Shangdong Province,

China 262200

Re: Forgiveness of interest associated with the $14,739,932 Convertible Promissory Note dated on June 30, 2011

Dear Ms. Wang,

On June 30, 2011 Best Alliance Worldwide Investments Limited (“BAW” or “we”) as the shareholder of China Ziyang Technology (“Ziyang”) entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with China America Holdings, Inc. (“CAAH”) and China Ziyang Technology Co., Limited (“Ziyang”).

Pursuant to the Share Exchange Agreement, we sold 100% of the outstanding shares of Ziyang to CAAH for the consideration of 236,013,800 shares of CAAH common stock (the “Pre-Reverse Split Shares”) and a Convertible Promissory Note in the principal amount of $14,739,932 which bears interest at the rate of 3% per annum (the “Convertible Note”).

BAW hereby agrees to forgive all and any accrued interest on the Convertible Note from date of the Convertible Note through and until the Maturity Date as provided for in the Convertible Note.

Regards,

/s/ Lingbo Chi

Lingbo Chi

President

Best Alliance Worldwide Investments Limitedexh10-36.htm

 

Exhibit 10.36

September 30, 2011

Lingbo Chi

Chairman and Chief Executive Officer

China America Holdings, Inc.

Xi Lv Biao Industrial Park, Longdu Street,

Zhucheng City, Shangdong Province,

China 262200

Re: Forgiveness of the interest associated with 3% Convertible Promissory Note $11,075,206 dated on June 30, 2011

Dear Mr. Chi,

On June 13, 2011 China Direct Investments, Inc. and Capital One Resources, Ltd. (collectively, “CDII”) entered into a consulting agreement with China America Holdings, Inc. (“CAAH”).

As compensation for services under this agreement, CAAH issued CDII a convertible promissory note in the principal amount of $11,075,206 bearing the interest at the rate of 3% per annum (“Convertible Note”).

CDII hereby agrees to forgive all and any accrued interest on the Convertible Note from date of the Convertible Note through and until the Maturity Date as provided for in the Convertible Note

Regards,

China Direct Investments, Inc.

/s/ James Wang

James Wang, Ph.D.

Chairman and CEO

Capital One Resources, Ltd.

/s/ Robert Zhuang

Robert Zhuang

Genereal Managerexhibit105convertibnleprefpu.htm - Generated by SEC Publisher for SEC Filing

 

 Page | 1  

 

 

CONVERTIBLE PREFERRED PURCHASE AGREEMENT

 

 

This Convertible Preferred Stock Purchase Agreement dated September
30, 2011 is by and between:

 

 

Huntington Chase
Financial Group, LLC

 

 

_________________________________________

(the “Purchaser”)

 

 

Parallax Diagnostics,
Inc

 

 

__________________________________________

(the “Company”  or 
“PRLX”)

 

 

 

WHEREAS, Parallax Diagnostics, Inc. (“PRLX” “Seller”)
a Nevada corporation at 2 Canal Park, 5th Floor Cambridge, MA 02141
is authorized to sell ten thousand (10,000) shares of Convertible Preferred
stock (“Preferred”) of Parallax Diagnostics, Inc.  

 

WHEREAS, Parallax Diagnostics, Inc. has not yet
priced the Common Stock that the holder of Preferred is to convert into, the
Purchaser and the Company have agreed to use the valuation of the Company at
the time of its next financing to determine the price per share of Common stock. 
If the Company has not completed a financing within the next six (6) months
then the price of the Common Stock that the Preferred converts into will be
priced at ten ($10.00) dollars per share; and

 

WHEREAS, Huntington Chase Financial Group, LLC (“HCFG”
“Purchaser”) a Nevada Limited Liability Co which has signed the Investor
Questionnaire, reviewed a Term Sheet, Subscription Supplement and Risk Factors;
and 

 

WHEREAS the parties wish to enter into a transaction whereby
HCFG will acquire ten thousand (10,000) shares of Preferred stock of PRLX (the
“Shares”) at ten ($10.00) dollars per share from PRLX on the terms and
conditions set out herein;

 

NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained in the Agreement, and in order to consummate the purchase
and the sale of the Parallax Diagnostics, Inc. Preferred stock aforementioned,
it is hereby agreed as follows:

             

Confidential Convertible

Preferred Stock Purchase Agreement                                                    Parallax

Diagnostics, Inc                                                                                                                              November

12, 2010                                                                                      

                                                                                                                                                                                                                 

 

 

 Page | 21  

 

 

1.     
PURCHASE AND SALE: Subject to the terms and conditions hereinafter set
forth, at the closing of the transaction contemplated herby, the Seller shall
sell, convey, transfer, and deliver to the Purchaser certificates representing
such stock, and the Purchaser shall purchase from the Seller Parallax
Diagnostic, Inc. Preferred stock in consideration of the purchase price set
forth in this Agreement. The certificates representing the Corporation’s stock
shall be duly endorsed for transfer of accompanied by appropriate stock
transfer powers duly executed in blank, in either case with signatures
guaranteed in the customary fashion, and shall have all the necessary
documentary transfer tax stamps affixed thereto at the expense of the Seller.
The closing of the transactions contemplated by this Agreement (“Closing”),
shall be held at 1327 Ocean Ave, Suite M Santa Monica CA 90401, on September 30,
2011 at 10:00 AM PST, or such other place, date and time as the parties hereto
may otherwise agree.

 

2.      The
check issuance instructions are set forth below as follows;

 

Parallax Diagnostics, Inc.

In Care of: J. Michael Redmond

2 Canal Park, 5th Floor

Cambridge, MA 02141

             

            3.  Information for payment via bank wire;

 

Bank Name:                Bank
of America

Branch:                        1301
4th Street

                                    Santa
Monica, CA 90401

Account Name:           Parallax
Diagnostics, Inc.

                        Account Number:       02184-22996 

            Routing Number:        122000661

 

3.      The
address of Purchaser where the Shareholder is to send the Parallax Diagnostics,
Inc share certificate is outlined below:

 

Huntington Chase Financial Group,
LLC

2341 Tuna Canyon Road

Topanga,
CA 90290

 

4.      AMOUNT
AND PAYMENT OF PURCHASE PRICE. The total consideration for the stock purchase
is fully set out below:

 

Purchase ten thousand (10,000)
shares of preferred stock priced at $10.00 per share for one hundred thousand ($100,000)
dollars. 

 

5.      REPRESENTATIONS
AND WARRANTIES OF SELLER. Seller hereby warrants and represent:

 

Confidential Convertible

Preferred Stock Purchase Agreement                                                    Parallax

Diagnostics, Inc                                                                                                                              November

12, 2010                                                                                      

                                                                                                                                                                                                                 

 

 

 Page | 32  

 

 

a.      
Organization and Standing. Parallax Diagnostics, Inc is a corporation
duly organized under the laws of the State of Nevada and has the corporate
power and authority to carry on its business as it is now being conducted.

 

6.        REPRESENTATIONS
AND WARRANTIES OF SELLER AND PURCHASER.

 

 Seller and Purchaser hereby
represent and warrant that there has been no act or omission by Seller,
Purchaser or the Corporation which would give rise to any valid claim against
any of the parties hereto for a brokerage commission, finder’s fee, or other
like payment in connection with the transactions contemplated hereby.

 

7.      GENERAL
PROVISIONS

 

a.       Entire
Agreement. This agreement (including the exhibits hereto and any written
agreements hereof executed by the parties) constitutes the entire Agreement and
supersedes all prior agreements and understandings, oral and written, between
the parties hereto with respect to the subject matter hereof.

 

b.      Section
and Other Heading. The section and other headings contained in this Agreement
are for reference purposes only and shall not affect the meaning or
interpretation of this Agreement.

 

c.       Governing
Law. This agreement and all transactions contemplated hereby, shall be governed
by, construed and enforced in accordance with the laws of the State of California. The parties herein waive trial by jury and agree to submit to the personal
jurisdiction and venue of a court of subject matter jurisdiction located in Los Angeles County, State of California. In the event that litigation results from or arises
out of this Agreement or the performance thereof, the parties agree to reimburse
the prevailing party’s reasonable attorney’s fees, court costs, and all other
expenses, whether or not taxable by the court as costs, in addition to any
other relief to which the prevailing party may be entitled.

 

 

 

 

 

 

 

(balance of page
intentionally left blank – signature page follows)

 

 

 

 

 

 

Confidential Convertible

Preferred Stock Purchase Agreement                                                    Parallax

Diagnostics, Inc                                                                                                                              November

12, 2010                                                                                      

                                                                                                                                                                                                                 

 

 

 Page | 43  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, This Agreement has been executed by each
of the individual parties hereto on the date first above written.

 

 

 

 

 

Signed:

 

 

PARALLAX DIAGNOSTICS, INC.

 

 

 

By:  /s/ J. Michael Redmond                           _____              ____09/30/2011           

       J. Michael Redmond                                                                    Date

       President

       Parallax Diagnostics, Inc

 

 

HUNTINGTON CHASE FINANCIAL GROUP, LLC

 

 

 

By: _/s/ Edward W. Withrow III________                           _____09/30/2011         

       Edward W. Withrow III                                                              Date

       Managing Member

       Huntington Chase Financial Group, LLC

 

 

Confidential Convertible

Preferred Stock Purchase Agreement                                                    Parallax

Diagnostics, Inc                                                                                                                              November

12, 2010

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