Document:

exhibit_10-1.htm

EXHIBIT 10.1

 

 

March 26, 2014

Mr. Ronald Downey

Wunderkind Group Pty Ltd

Level 2, 113-115 Oxford St.

Darlinghurst, NSW 2010

Australia

Re: Binding Letter of Intent to acquire a stake in Wunderkind Group Pty. Ltd.

 

Dear Mr. Downey

 

Massive Interactive (“Massive”) is pleased to present the following binding Letter of Intent (“LOI”) to purchase directly, or through an affiliate (the “Transaction”), a majority stake in Wunderkind, Group Pty Ltd (“Wunderkind” or the “Company”).  The principal terms of the proposed transaction are as follows:

 

	
  

	
I.

	
Purchase Price: Massive intends to purchase Wunderkind through an exchange of all the shares of Wunderkind for a convertible note issued by Massive. The note will have a face value of $5.5 million and will be convertible into 45% of the total shares issued and outstanding of Massive on a fully diluted post transaction basis.

 

	
  

	
II.

	
Convertible Note: Interest will be payable upon the earlier of maturity or conversion only.

 

	
  

	
III.

	
Term: 1 year

 

	
  

	
IV.

	
Additional Diligence: Massive intends to complete a financial, legal and business review of the Company, which will be limited to no longer than 20 days from the date of the execution of this binding LOI.

 

	
  

	
V.

	
Binding Effect: Both Massive and Wunderkind agree that the terms of this agreement are binding and in full effect upon execution. Therefore, this LOI is intended to be and will create a legally binding obligation for both parties. However, said binding effect is agreed to no longer be enforceable upon discovery of any material non-disclosed public information or event that is discovered during the course of due diligence.

 

	
  

	
VI.

	
Timing: As stated above, Massive intends to be but is not obligated to conduct and complete due diligence by April 26, 2014 or by a date mutually agreed upon by Massive and Wunderkind.

 

	 	
VII.

	
Approvals and Additional Conditions: Buyers view the due diligence process to be a confirmatory process and not one to be used to renegotiate the price. However, as a condition of closing this transaction, Massive requires that the following

  

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a.)

	
The approval and consent of Massive’s majority shareholder Southport Lane Management LLC (“Southport”) as evidenced by a valid and authorized signatory of Southport executing this LOI below, and

 

	
  

	
b.)

	
The approval and consent of the Board of Directors of Massive.

 

	
  

	
c.)

	
The approval and consent of the Board of Directors of Wunderkind.

 

Massive is very enthusiastic about the opportunity to pursue the proposed Transaction and are prepared to commence due diligence as soon as possible. We look forward to the Company’s response to our proposal, and we hope that this LOI adequately expresses our serious intention to complete the Transaction, subject to such due diligence and other closing conditions.

 

Please feel free to contact me with any questions you might have regarding this IOI.

 

 

Sincerely,

 

MASSIVE INTERACTIVE INC

/s/ Antaine Furlong

By: Antaine Furlong

Its: CFO, Director

Date: 26.03.2014

AGREED AND ACCEPTED

WUNDERKIND GROUP PTY LTD

/s/ Monique Ellis

By:  Monique Ellis

Its: MP, Director

Date: 26.03.2014

AGREED AND ACCEPTED

SOUTHPORT LANE MANAGEMENT LLC

/s/ Andrew Sherr

By: Andrew Sherr

Its: Authorized Signatory

Date: March 26, 2014

 

 

 

 

2f8k040114ex4i_zionoilgas.htm

Exhibit 4.1

[Face of Certificate - ZION OIL & GAS, INC.]

 

(SEE REVERSE SIDE FOR LEGEND)

 

W

 

WARRANTS

 

(THIS WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M., EASTERN STANDARD TIME, July 31, 2019)

 

ZION OIL & GAS, INC.

 

CUSIP  989696 141

 

WARRANT

 

THIS CERTIFIES THAT, for value received _____________ is the registered holder of a Warrant or Warrants expiring July 31, 2019 (the "Warrant") to purchase one fully paid and non-assessable share of Common Stock, par value $.01 per share (the "Shares"), of ZION OIL & GAS, INC., a Delaware corporation (the "Company"). The Warrant entitles the holder thereof to purchase from the Company, commencing on July 31, 2014, one Share of the Company at the price of $2.00 per share, upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of the Warrant Agent, Registrar and Transfer Company (such payment to be made by check made payable to the order of the Company), but only subject to the conditions set forth herein and in the Warrant Agreement between the Company and the Warrant Agent. In no event shall the registered holder of this Warrant be entitled to receive a net-cash settlement or other consideration in lieu of physical settlement in Shares of the Company. The Warrant Agreement provides that, upon the occurrence of certain events, the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted. The term Warrant Price as used in this Warrant Certificate refers to the price per Share at which Shares may be purchased at the time the Warrant is exercised.

 

This Warrant may expire on the date first above written if it is not exercised prior to such date by the registered holder pursuant to the terms of the Warrant Agreement.

 

No fraction of a Share will be issued upon any exercise of a Warrant. If, upon exercise of a Warrant, a holder would be entitled to receive a fractional interest in a Share, the Company will, upon exercise, round up to the nearest whole number the number of shares of common stock to be issued to the warrant holder.

 

Upon any exercise of the Warrant for less than the total number of full Shares provided for herein, there shall be issued to the registered holder hereof or his/her/its assignee a new Warrant Certificate covering the number of Shares for which the Warrant has not been exercised.

 

Warrant Certificates, when surrendered at the office or agency of the Warrant Agent by the registered holder hereof in person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants.

 

Upon due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any applicable tax or other governmental charge.

The Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of the Warrants represented by this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone) for the purpose of any exercise hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

  

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This Warrant does not entitle the registered holder to any of the rights of a stockholder of the Company.

 

COUNTERSIGNED:

Registrar and Transfer Company

 

WARRANT AGENT

BY:

AUTHORIZED OFFICER

 

DATED:

 

(Signature)

CHIEF EXECUTIVE OFFICER

 

(Seal)

 

(Signature)

SECRETARY

 

  

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SUBSCRIPTION FORM

 

To Be Executed by the Registered Holder in Order to Exercise Warrants

 

The undersigned Registered Holder irrevocably elects to exercise _________ Warrants represented by this Warrant Certificate, and to purchase the shares of Common Stock issuable upon the exercise of such Warrants, and requests that Certificates for such shares shall be issued in the name of

 

___________________________________________________________________________________________________________________

 

(PLEASE TYPE OR PRINT NAME AND ADDRESS)

 

___________________________________________________________________________________________________________________

 

___________________________________________________________________________________________________________________

 

___________________________________________________________________________________________________________________

 

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

 

and be delivered to_________________________________________________________________________________________________

 

                               (PLEASE PRINT OR TYPE NAME AND ADDRESS)

 

___________________________________________________________________________________________________________________

 

and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below:

 

Dated:

 

(SIGNATURE)

 

(ADDRESS)

 

(TAX IDENTIFICATION NUMBER)

 

THE SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE AMERICAN STOCK EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR CHICAGO STOCK EXCHANGE.

 

  

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ASSIGNMENT

 

To Be Executed by the Registered Holder in Order to Assign Warrants

 

For Value Received, _____________________ hereby sell, assign, and transfer unto

 

_____________________________________________________

(PLEASE TYPE OR PRINT NAME AND ADDRESS)

 

_____________________________________________________

 

_____________________________________________________

 

_____________________________________________________

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

 

and be delivered to__________________________________________________________________________________

                                   

                                            (PLEASE PRINT OR TYPE NAME AND ADDRESS)

 

___________________________________________________________________________________________________________________

 

Of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint ________________________________ Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

 

Dated:

 

(SIGNATURE)

 

Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

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