Document:

Closing Statement

 Exhibit 10.13 
 CLOSING STATEMENT 
  

			
	Transaction:	  	Acquisition of all of the membership interests of Vanguard Synfuels, L.L.C. (the “Company”) under the Contribution Agreement dated as of September 20, 2006, by and among
Diametrics Medical, Inc. and the Members of the Company (the “Contribution Agreement”).
	Closing Date:	  	September 20, 2006

 Agreements of the Parties: 
  

	1.	All capitalized terms not defined herein shall have the meanings ascribed to them in the Contribution Agreement. 

  

	2.	Each Stockholder acknowledges and agrees that he, she or it has reviewed and approved the disbursements shown on the attached Disbursement Schedule and that the contents of the
attached Disbursement Schedule represent the true, accurate and complete disbursement of the Cash Amount. 

  

	3.	Each Stockholder acknowledges and agrees that he, she or it has reviewed and approved the wire transfer instructions set forth next to his, her or its name on the Disbursement
Schedule and that such wire transfer instructions are correct. 

  

	4.	The Stockholders direct the Public Company to distribute the Cash Amount as set forth in the attached Disbursement Schedule. 

 [Signature Page Follows] 
  

 1 

 IN WITNESS WHEREOF, the undersigned have executed this Closing Statement as of September 20, 2006.

  

			
	 /s/ Joe Burns

	JOE BURNS
	
	 /s/ John Russo
 JOHN RUSSO
 /s/ Jimmy Carter
 JIMMY CARTER
 /s/ Benny Cloud
 BENNY CLOUD
 /s/ Dillard Cloud, Jr.
 DILLARD CLOUD, JR.
 /s/ Tim Collins

	TIM COLLINS
	
	CGC ASSOCIATES, LLC
		
	By:	 	 /s/ Tim Collins

	Name:	 	Tim Collins
	Title:	 	Authorized Signatory
	
	 /s/ Cecil Crawford

	CECIL CRAWFORD
	
	 /s/ Glenn Davis

	GLENN DAVIS

 Signature Page 1 to Closing Statement 

			
	 /s/ Darrell Dubroc

	DARRELL DUBROC
	
	 /s/ Thomas Frazier

	THOMAS FRAZIER
	
	 /s/ Michael Hawkins

	MICHAEL HAWKINS
	
	BIOINVEST, LLC
		
	By:	 	 /s/ Stanley King

	Name:	 	Stanley King
	Title:	 	Authorized Signatory
	
	 /s/ Antwine J. Lavespere

	ANTWINE J. LAVESPERE
	
	 /s/ Carl R. Martin

	CARL R. MARTIN
	
	 /s/ Kerry McManus

	KERRY MCMANUS
	
	 /s/ Jeff Peterson

	JEFF PETERSON

 Signature Page 2 to Closing Statement 

			
	TIMBER HARVESTING EXPERTS LOGGING CO., LLC
		
	By:	 	 /s/ Derald Phillips

	Name:	 	Derald Phillips
	Title:	 	Authorized Signatory
	
	 /s/ Stephen Shelton

	STEPHEN SHELTON
	
	 /s/ Travis Taylor

	TRAVIS TAYLOR
	
	 /s/ Benjamin Templin

	BENJAMIN TEMPLIN
	
	 /s/ Steve Templin

	STEVE TEMPLIN
	
	 /s/ Clyde Todd

	CLYDE TODD
	
	 /s/ Audrey D. Tyler

	AUDREY D. TYLER
	
	 /s/ William Wieger

	WILLIAM WIEGER
	
	 /s/ Greg Williams

	GREG WILLIAMS

 Signature Page 3 to Closing Statement 

 ACKNOWLEDGED AND AGREED: 
  

			
	DIAMETRICS MEDICAL, INC.
		
	By:	 	 /s/ Heng Chuk

	Name:	 	Heng Chuk
	Title:	 	Chief Financial Officer

 Signature Page 4 to Closing Statement 

  
  
 (Disbursement Schedule)Excercise Agreement - Asset Managers International Limited

 Exhibit 10.14 
 DIAMETRICS MEDICAL, INC. 
 EXERCISE AGREEMENT 
 THIS EXERCISE AGREEMENT (this “Agreement”), is made as of September 20, 2006, by and between Diametrics Medical, Inc. (the
“Company”) and Asset Managers International Limited (“Securityholder”). 
 RECITALS 
 WHEREAS, the Company is presently in negotiations for the acquisition (the “Transaction”) of 100% of the limited liability company
membership interests of Vanguard Synfuels, L.L.C.; 
 WHEREAS, in connection with the Acquisition, it is contemplated that the Company would
issue 2,850 shares of its Series J Convertible Preferred Stock; 
 WHEREAS, Securityholder is the holder of a $375,000 Senior Secured
Convertible Note of the Company (including all accrued interst thereon, the “Note”); 
 WHEREAS in connection with the
offering of the Series J Preferred Stock, the Company desires to obtain the agreement of Securityholder to convert the Note into Common Stock of the Company; 
 WHEREAS, Securityholder is entering into this Agreement in order to induce the Company to consummate the Transaction, and Securityholder has required that the Company enter into this Agreement, upon the terms and
subject to the conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein
and other good and valuable consideration, the parties hereto agree as follows: 
 ARTICLE I 
 AGREEMENT TO CONVERT 
 Section 1.1
Agreement to Convert. Notwithstanding any limitation on conversion contained in the documents governing the Note, the Securityholder hereby agrees to convert 100% of the outstanding principal and interest under the Note into Common Stock of
the Company, upon the consummation of the closing of the Transaction (the “Closing”). In furtherance of the foregoing, Securityholder will comply with all of the terms and conditions for the conversion of the Note as set forth in
the terms and conditions of the Note, not later than the Closing. 
 Section 1.2 Adjustment Upon Changes In Capitalization. In
the event of any change in the Securities, by reason of any stock dividends, splits, mergers, recapitalizations or other changes in the corporate or capital structure of the Company, the number and kind of Securities subject to this Agreement shall
be appropriately adjusted. 

 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES 
 OF STOCKHOLDER 
 Securityholder hereby represents and warrants to the Company as follows: 
 Section 2.1 Title to Securities. As of the date hereof, Securityholder is the record and beneficial owner of the number of Securities set forth on Securityholder’s signature page hereto and such
Securities are, or will be as of the Closing all of the Securities owned, either of record or beneficially, by Securityholder. Such Securities, are and will be as of the Closing owned free and clear of any security interests, liens, claims, pledges,
options, rights of first refusal, agreements, limitations on voting rights, charges or other encumbrances of any nature whatsoever other than pursuant to this Agreement, except as disclosed to the Company prior to the execution and delivery of this
Agreement in writing. 
 Section 2.2 Authority Relative to This Agreement. Securityholder has all requisite power and authority
to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Securityholder and the consummation of the transactions contemplated
hereby have been duly and validly authorized by all proceedings on the part of Securityholder necessary to authorize this Agreement or to consummate such transactions. This Agreement has been duly and validly executed and delivered by Securityholder
and constitutes a legal, valid and binding obligation of Securityholder, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting
creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a
proceeding at law or in equity). 
 Section 2.3 No Conflict. 
 (a) Neither the execution and delivery of this Agreement nor the consummation by Securityholder of the transactions contemplated hereby will
(i) conflict with or violate any law, rule, regulation, order, judgment or decree applicable to Securityholder or by which its Securities are bound or affected or (ii) conflict with, or constitute a violation of, or constitute a default
under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a lien or encumbrance on any of its Securities, pursuant to, any note, bond, mortgage, indenture, contract, agreement,
lease, license, permit, franchise or other instrument or obligation to which Securityholder is a party or by which Securityholder or its Securities are bound or affected, except for any such conflicts, violations, breaches, defaults or other
occurrences that would not prevent or delay the performance by Securityholder of its obligations under this Agreement. 
 (b) The execution
and delivery of this Agreement by Securityholder does not, and the performance of this Agreement by Securityholder will not, require any consent, approval, authorization or permit of, or filing with or notification to, any governmental or regulatory
authority, except where the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or notifications would not prevent or delay the performance by Securityholder of its obligations under this Agreement.

  

 2 

 ARTICLE III 
 COVENANTS OF THE SECURITYHOLDER 
 Section 3.1 No Inconsistent Agreements. Securityholder,
for the benefit of the Company, hereby covenants and agrees that, except as contemplated by this Agreement, Securityholder shall not enter into any agreement or grant a proxy or power of attorney with respect to its Securities that is inconsistent
with this Agreement. 
 Section 3.2 Transfer Of Title. Securityholder, for the benefit of the Company, hereby covenants and
agrees that, so long as this Agreement is in effect, Securityholder will not transfer record or beneficial ownership of any of its Securities unless the transferee agrees in writing to be bound by the terms and conditions of this Agreement.

 ARTICLE IV 
 TERMINATION 
 Section 4.1 Termination. This Agreement shall terminate automatically upon the date on which the
Company notifies Securityholder in writing that it has abandoned the Transaction for any reason other than as the result of a breach of this Agreement by Securityholder. 
 Section 4.2 Effect of Termination. In the event of the termination of this Agreement pursuant to Section 4.1 hereof, this Agreement shall forthwith become void and have no effect, without
liability on the part of any party hereto or its trustees, partners, beneficiaries, directors, officers, stockholders or affiliates. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1 Effectiveness of Agreement. This Agreement shall not be effective and a binding agreement between the parties hereto shall not exist until this Agreement is executed by the Company and the
Company’s counterpart signature page hereto is delivered to Securityholder. 
 Section 5.2 Notices. All notices, requests,
claims, demands and other communications under this Agreement shall be in writing and shall be deemed given if delivered personally, telecopied (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the
following addresses (or at such other address for a party as shall be specified by like notice): 
  

			
	 If to Securityholder:
	  	At such address as is set forth on its signature page hereto.
		
	 If to the Company:
	  	 Diametrics Medical, Inc.
 6033 West Century Blvd.,
Suite 850
 Los Angeles, California 90045
 Attention: Heng
Chuk
 Telephone No.: (310) 670-2704
 Facsimile No.: (310)
670-4107

  

 3 

			
		  	 With a copy to:
  
 Sidley Austin LLP
 555 W. Fifth Street, Suite 4000
 Los Angeles, California 90013
 Attention: Stephen D. Blevit, Esq.
 Telephone Number: (213) 896-6029
 Facsimile Number: (213)
896-6600

 Any party from time to time may change its address for the purposes of notices hereunder by giving
written notice to the other parties hereto of such new address. 
 Section 5.3 Entire Agreement. This Agreement constitutes the
entire agreement among the parties hereto with respect to the subject matter hereof and replaces and supersedes all prior agreements or understandings, both written and oral, between the parties hereto, relating to the exercise or conversion, as
applicable, of Securityholder’s Securities. 
 Section 5.4 Securityholder Capacity. Securityholder signs solely in its
capacity as the record holder and beneficial owner of the Securities set forth on its signature page hereto. 
 Section 5.5 Specific
Performance. 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. It is accordingly agreed that the
parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in any state or federal court of the United States located in Los Angeles
County, California or New York, New York, 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 submit such party to the personal
jurisdiction of any state or federal court in the event any dispute arises out of this Agreement or any of the transactions contemplated hereby; (b) agrees that such party will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such court; (c) agrees that such party will not bring any action relating to this Agreement or the transactions contemplated hereby in any court other than a state or federal court sitting in Los Angeles
County, California or New York, New York; and (d) waives any right to trial by jury with respect to any claim or proceeding related to or arising out of this Agreement or any of the transactions contemplated hereby. 
 Section 5.6 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of
law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect and shall not in any way be affected or impaired thereby so long as the economic or legal substance of this Agreement is
not affected in any manner materially adverse to any party. 
  

 4 

 Section 5.7 Amendment. This Agreement may be amended only by a written instrument signed by
each of the parties hereto. 
 Section 5.8 Assignment. Except as required by operation of law, this Agreement shall not be
assignable by the parties hereto without the prior written consent of the other party. This Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns. 

Section 5.9 Governing Law. This Agreement shall be governed by the internal laws of the State of New York. 
 Section 5.10 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
 Section 5.11 Facsimile Signatures. Any signature page delivered
pursuant to this Agreement via facsimile shall be binding to the same extent as an original signature. Any party who delivers such a signature page agrees to later deliver an original counterpart to any party that requests it. 
 [Signature Page Follows] 
  

 5 

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

					
	 THE COMPANY
	 	DIAMETRICS MEDICAL, INC.
			
		 	 By:
	 	 /s/ Heng Chuk

		 	 Name:
	 	Heng Chuk
		 	 Title:
	 	Chief Financial Officer
		
	 SECURITYHOLDER
	 	 ASSET MANAGERS INTERNATIONAL LIMITED

			
		 	 By:
	 	 /s/ William F. Maycock

		 	 Name:
	 	William F. Maycock
		 	 Title:
	 	Director

  

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