Document:

f8k120310ex10ii_business.htm

    Exhibit 10.2

     

     

    
      	
              GTRADE

              
EMIL KOUTANOV, GUY HAVENSTEIN, TONY
      FLE-DANIJELOVICH

            
	
              
AND

            
	
              
BUSINESS MARKETING SERVICES,
      INC

            
	
              
ASSET TRANSFER
      AGREEMENT

            
	 
      

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	TABLE	OF	CONTENTS

    

     

    
      	1
    Background	1
	5
      Assets  	 1
	11 Purchase
      Price	 2
	13 Assigned
      contracts, licenses and transfer of Intellectual Property 	 2
	16 Assumed
      liabilities 	 2
	18 Conditions
      Precedent to Buyer’s obligations	 3
	21 Closing	 3
	24 Representations
      and Warranties of the Seller	 4
	31 Co-operation by
      the Seller	 4
	33
      Indemnification	 5
	34
      Non-Competition	 5
	35 Entire
      Agreement	 5
	36 Amendments and
      Waivers	 5
	39 Notices	 5
	42
    Assignments	 6
	43
      Interpretation	 6
	44 Partial
      Invalidity	 6
	45 Governing Law and
      Disputes	 6

    

     

     

    APPENDICES:

     

    
      	
              Appendix

            	
              Assets

            
	 
      	 
      

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
ASSET TRANSFER AGREEMENT

     

    This
Asset Transfer Agreement (this “Agreement”) is entered into on March 12
, 2010

     

    BETWEEN:

     

    
      	
              (1)  

            	
              Emil
      Koutanov, Guy Havenstein, Tony Fle-Danijelovich and gTrade, of 8/8 Burne
      Avenue, Dee Why in the State of New South Wales (the “Seller”); and

            

    

     

    
      	
              (2)  

            	
              Business Marketing Services,
      Inc, One Broadway Street, 10th
      floor, Cambridge, MA 02142, USA (the
“Buyer”).

            

    

     

     

    The
Seller and the Buyer are in the following referred to as the “Parties” and
individually the “Party”.

     

     

    
      	
              1  

            	
              Background

            

    

     

    
      	
              2  

            	
              The
      Seller is presently engaged in the development of a trading
      platform.

            

    

     

    
      	
              3  

            	
              The
      Buyer is engaged in the development, marketing and operation of new
      services and wishes to acquire certain assets of the Seller in order to
      expand its capabilities.

            

    

     

    
      	
              4  

            	
              The
      Parties therefore have agreed that certain assets shall be sold and
      transferred by the Seller to the Buyer on the terms and conditions set out
      in this Agreement.

            

    

     

    
      	
              5  

            	
              Assets

            

    

     

    
      	
              6  

            	
              Upon
      the terms and subject to the conditions set out in this Agreement, the
      Seller agrees to sell and the Buyer agrees to purchase the assets listed
      in Appendix A.
      (the “Assets”). In this regard, the Seller hereby informs the Buyer
      that the trademarks transferred have been free for unlicensed use by the
      public for a long time and are considered to be in the public domain,
      including commercial use. All software transferred is also in the public
      domain, including commercial use and as such not protected by copyright.
      No copies of the site source code or the database structure have however
      for security reasons been distributed to the public or outside the
      Seller’s and previous owners’ circle of
  knowledge.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              7  

            	
              The
      Assets shall be transferred to the Buyer on the date set out in clauses 23
      to 25 of this Agreement (the “Closing
Date”).

            

    

     

    
      	
              8  

            	
              All
      revenues, costs, risks, liabilities and expenses related to the Assets
      due, attributable to or accrued before an on the Closing Date shall be for
      the account of the Seller and all revenues costs, risks, liabilities and
      expenses related to the Assets due, attributable to or accrued after the
      Closing Date shall be for the account of the
  Buyer.

            

    

     

    
      	
              9  

            	
              The
      excluded assets not to be sold or transferred to the Buyer include e.g.
      any and all existing hardware and any legal entity or business entity used
      for conducting the Seller’s
business.

            

    

     

    
      	
              10  

            	
              All
      domain names included in the Assets shall be transferred to the Buyer
      on  Closing.

            

    

     

    
      	
              11  

            	
              Purchase
      Price

            

    

     

    
      	
              12  

            	
              The
      purchase price for the Assets shall be 
USD 300,000 (the “Purchase Price”).
      The Purchase Price shall be paid at the Closing Date by way of, in the
      form of a promissory note, as further set out in Appendix
      B.

            

    

     

    
      	
              13  

            	
              Assigned
      contracts, licenses and transfer of Intellectual
  Property

            

    

     

    
      	
              14  

            	
              In
      so far as any contract or license, relevant to the full enjoyment of the
      Assets by the Buyer, cannot effectively be assigned to the Buyer through,
      e.g. consent or novation, as long as a need for such a contract or license
      prevails and to the extent the contract or license so permits, the Buyer
      shall perform on behalf of the Seller all the obligations of the Seller
      which fall to be performed after the Closing Date and receive all the
      benefits from such contract or license in respect of the period after the
      Closing Date.

            

    

     

    
      	
              15  

            	
              The
      Seller undertakes to promptly upon the request of the Buyer execute all
      transfer documents and to do all necessary acts and things in order to
      validly transfer to the Buyer, or aid the Buyer in registering or
      otherwise protecting or enjoying, the Intellectual Property
      Rights.

            

    

     

    
      	
              16  

            	
              Assumed
      liabilities

            

    

     

    
      	
              17  

            	
              The
      Buyer shall not assume any obligations, debts or liabilities of the
      Seller’s business of whatever kind or nature, whether known or unknown and
      whether actual or contingent.

            

    

     

    
      	
              18  

            	
              Liability
      of the Seller

            

    

     

    
      	
              19  

            	
              With
      the exception for the provision of the aforementioned 'Representations and
      Warranties of the Seller' clause, the Sellers shall not be accountable for
      any liability, financial or otherwise, arising as a result of death,
      personal injury, damage to property, financial harm or detriment of any
      kind, caused directly or indirectly, immediate or consequential, by the
      Buyer's purchase and enjoyment of the assets described in Appendix
      A.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
              20  

            	
              Conditions
      Precedent to Buyer’s obligations

            

    

     

    
      	
              21  

            	
              The
      obligations of the Buyer to complete the transaction contemplated by this
      Agreement shall be subject to:

            

    

     

    
      	
              (a)  

            	
              the
      Buyer being satisfied, it its sole discretion, that the Assets are not
      being used in any illegal or inappropriate
  activities;

            

    

     

    
      	
              (b)  

            	
              the
      Buyer having obtained financing on terms and in such amounts as the Buyer
      may in its sole discretion deem acceptable and
  appropriate;

            

    

     

    
      	
              (c)  

            	
              any
      required approvals or authorizations of the transaction contemplated by
      this Agreement having been given by the shareholders meeting of the Buyer
      (e.g. changes to the Articles of Association of the Buyer, authorisations
      of the issuance of the Promissory Note,
etc.);

            

    

     

    
      	
              (d)  

            	
              the
      Buyer having, in its sole discretion, duly resolved to issue the
      Promissory Note, and the Buyer being satisfied that the Buyer has the
      necessary authority and capacity to issue the Promissory
    Note.

            

    

     

    
      	
              22  

            	
              In
      the event the Buyer has used all reasonable endeavours to fulfil the
      conditions precedents but they have not been fulfilled on or before the
      Closing Date, the Buyer shall be entitled, in its sole discretion, to
      terminate this Agreement forthwith in writing, and the Seller shall not be
      entitled to any compensation of any kind due to such
      termination.

            

    

     

    
      	
              23  

            	
              Closing

            

    

     

    
      	
              24  

            	
              Closing
      shall take place at Law Office of Marcus G. Bodet, P.A., 1825 Main Street,
      Weston, Florida 33326, Tel:  (786) 327-2062, Fax: (786)
      515-9337, Email: mbodet@bodetlaw.com, and at the Sydney Office of Arnold
      Bloch Leibler, Level 24, Chifley Tower, 2 Chifley Square, Sydney NSW 2000,
      Australia DX489 Sydney, T: +61 2 9226 7100 on February 24, 2010, or in
      such other place or by such other manner or time as the parties mutually
      agree (“Closing”).

            

    

     

    
      	
              25  

            	
              At
      Closing:

            

    

     

    
      	
              (a)  

            	
              the
      Seller shall deliver to the Buyer all such of the Assets as are capable of
      being transferred by physical
delivery;

            

    

     

    
      	
              (b)  

            	
              the
      Seller shall deliver to the Buyer all such documents as are required by
      the Buyer to complete the sale and purchase of the Assets to the Buyer and
      vest title in the Assets in the
Buyer;

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              (c)  

            	
              the
      Seller shall deliver to the Buyer all relevant computer programs, web
      hosting agreements, access codes, IP-addresses etc, and any digital
      transfer verifications that the relevant Assets have been
      transferred;

            

    

     

    
      	
              (d)  

            	
              the
      Seller shall deliver to the Buyer proof of release to the Buyer of any
      Assets held in escrow for the benefit of the
  Buyer;

            

    

     

    
      	
              (e)  

            	
              the
      Buyer shall make Payment of the Purchase Price by Providing a Promissory
      Note to the Seller in the amount of USD 300,000 in the form set out in
      Appendix B

            

    

     

    The Buyer
may in its sole discretion waive any requirement placed on the Seller contained
in this Section.

     

    
      	
              26  

            	
              Representations
      and Warranties of the Seller

            

    

     

    
      	
              27  

            	
              The
      Seller lawfully owns and has good and marketable title to the Assets, free
      and clear of all encumbrances and there exists no agreement to create any
      encumbrance over any of the Assets. The Buyer will through this Agreement
      acquire good and marketable title to the Assets free of any and all
      encumbrances.

            

    

     

    
      	
              28  

            	
              The
      Seller warrants that none of the Assets are restricted from commercial use
      by way of licensing terms or limited consents in any form, and the
      consummation of the transaction contemplated by this Agreement will not
      cause any impairment of any of the
Asset.

            

    

     

    
      	
              29  

            	
               

            

    

     

    
      	
              30  

            	
              If
      after Closing Date the Buyer discovers that there are Assets that have not
      been properly transferred to the Buyer in accordance with this Agreement,
      the Seller undertakes to take any reasonable measure to assist the Buyer
      to promptly complete such transfer.

            

    

     

    
      	
              31  

            	
              The
      Seller represents that it shall in no way act so as to diminish or impair
      the value of the Assets, or obstruct the full enjoyment of the Assets by
      the Buyer.

            

    

     

    
      	
              32  

            	
              There
      are no facts or circumstances relating to the Assets which have not been
      disclosed to the Buyer and which, if disclosed, might reasonably have been
      expected to influence the decision of the Buyer to purchase the Assets on
      the terms of this Agreement.

            

    

     

    
      	
              33  

            	
              Co-operation
      by the Seller

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	
              34  

            	
              The
      Seller shall, at any time and from time to time, whether before, at, or
      after the Closing Date, execute and deliver any further instruments or
      documents and, at its own cost, take all such further action as the Buyer
      may reasonably request in order to consummate effectively the transactions
      contemplated by this Agreement and to deliver to the Buyer legal title to
      the Assets. The Seller will use its best efforts to take, or cause to be
      taken, all actions and to do, or cause to be done, all things necessary to
      consummate and make effective as promptly as possible the transactions
      contemplated by this Agreement and to co-operate with others in connection
      with the foregoing. The Seller shall use its best efforts to obtain the
      authorisations, consents, orders and approvals of regulatory bodies and
      officials that may be or become necessary for the performance of its
      obligations pursuant to this Agreement and the consummation of the
      transactions contemplated by it.

            

    

     

    
      	
              35  

            	
              Indemnification

            

    

     

    The
Seller shall be liable and indemnify and hold the Buyer harmless from and
against any and all losses attributable to a breach of the representations and
warranties given by the Seller in this Agreement or covenants or agreements made
or to be performed by the Seller pursuant to this Agreement.

     

    
      	
              36  

            	
              Non-Competition

            

    

     

    
      	
              37  

            	
              The
      Seller may not for a period of three (3) years as from the Closing Date,
      not directly or indirectly, have an ownership interest in, carry on any
      business or be engaged in the development, marketing and operation of a
      Securities Trading Services that, directly or indirectly, compete with the
      business related to the Assets transferred to the Buyer pursuant to this
      Agreement. The scope of Securities Trading Services is limited to the
      trading and exchange of financial instruments including common stock,
      futures contracts, bonds but not including trading of wagers such as a
      Betting Exchange.

            

    

     

    
      	
              38  

            	
              Entire
      Agreement

            

    

     

    Each of
the Parties to this Agreement confirms that this Agreement represents the entire
understanding and constitutes the whole agreement between the Parties relating
to the subject matter hereof and supersedes all prior agreements, covenants,
arrangements, communications, representations or warranties, whether oral or
written, by any officer, agent, employee or representative of either of the
Parties.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      	
              39  

            	
              Amendments
      and Waivers

            

    

     

    
      	
              40  

            	
              This
      Agreement may only be amended, changed or modified by an instrument in
      writing duly executed by the
Parties.

            

    

     

    
      	
              41  

            	
              In
      no event shall any delay, failure or omission of a Party in enforcing,
      exercising or pursuing any right, claim or remedy under this Agreement be
      deemed as a waiver thereof, unless such right, claim or remedy has been
      expressly waived in writing.

            

    

     

    
      	
              42  

            	
              Notices

            

    

     

    
      	
              43  

            	
              All
      notices and other communications required or permitted under this
      Agreement must be in writing in the English language and shall be deemed
      to have been received by a Party
when:

            

    

     

    
      	
              (a)  

            	
              delivered
      by post, unless actually received earlier, on the third Business Day after
      posting, if posted within the USA, or the fifth Business Day, if posted to
      or from a place outside the USA;

            

    

     

    
      	
              (b)  

            	
              delivered
      by hand, on the day of delivery;

            

    

     

    
      	
              (c)  

            	
              delivered
      by E-mail.

            

    

     

    
      	
              44  

            	
              All
      notices and communications required or permitted under this Agreement
      shall be addressed as set out below or to such other addresses as may be
      given by written notice in accordance with this
  Section.

            

    

     

    
      
        	 	If to the
      Seller: 	Emil Koutanov
    	  ekoutanov@obsidiandynamics.com
	 	 	Guy Havenstein
      	 guy.havenstein@gmail.com
	 	 	Tony
      Fle-Danijelovich 	 tonyfle@hotmail.com
	 	 	 	 

      

       

    

    
      
        	 	If to the
      Buyer:   	Business Marketing
      Services, Inc	 
	 	 	Attention: Mr. Hans
      Pandeya	 
	 	 	President	 
	 	 	Business Marketing
      Services, Inc	 
	 	 	PO Box 55071
      #40022	 
	 	 	Boston, MA
      02205-5071	 
	 	 	hans.pandeya@gmail.com	 

      

    

     

    
      	
              45  

            	
              Assignments

            

    

     

    This
Agreement, and the rights and obligations hereunder, shall be binding upon and
inure to the benefit of the successors of the Parties but shall not be
assignable by any of the Parties without the prior written consent of the other
Party. However, this Agreement may be assigned by either of the Parties to any
company directly or indirectly controlling, controlled by or under common
control of the assignor, provided that the assignor shall remain liable as for
its own debt for
all obligations under this Agreement.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
      	
              46  

            	
              Interpretation

            

    

     

    The
headings in this Agreement are for ease of reference only and shall not affect
the interpretation of any provision of this Agreement.

     

    
      	
              47  

            	
              Partial
      Invalidity

            

    

     

    If any
provision of this Agreement or the application of it shall be declared or deemed
void, invalid or unenforceable in whole or in part for any reason, the remaining
provisions of this Agreement shall continue in full force and effect. The
Parties shall seek to amend such void, invalid or unenforceable provisions and
thereby this Agreement in order to give effect to, so far as is possible, the
spirit of this Agreement and to achieve the purposes intended by the
Parties.

     

    
      	
              48  

            	
              Governing
      Law and Disputes

            

    

     

    
      	
              49  

            	
              This
      Agreement shall be governed by and construed in accordance with the laws
      of the courts of NSW, Australia.

            

    

     

    
      	
              50  

            	
              Any
      dispute, controversy or claim arising out of, or in connection with, this
      Agreement, or the breach, termination or invalidity of the Agreement,
      shall be settled by arbitration in accordance with the Arbitration Rules
      of the International Arbitration Institute in
  Australia.

            

    

     

    
      	
              51  

            	
              The
      place of arbitration shall be Sydney,
Australia.

            

    

     

    
      	
              52  

            	
              The
      language to be used in the arbitral proceedings shall be
      English.

            

    

     

    
      	
              53  

            	
              The
      Parties undertake and agree that all arbitral proceedings conducted with
      reference to this arbitration clause will be kept strictly confidential.
      This confidentiality undertaking shall cover all information disclosed in
      the course of such arbitral proceedings, as well as any decision or award
      that is made or declared during the proceedings. Information covered by
      this confidentiality undertaking may not, in any form, be disclosed to a
      third party without the written consent of the Parties hereto. This
      notwithstanding, a Party shall not be prevented from disclosing such
      information in order to safeguard in the best possible way his rights
      vis-à-vis the other Party in connection with the dispute, or if the Party
      is obliged to so disclose pursuant to statute, regulation, a decision by
      an authority, a stock exchange contract or
  similar.

            

    

     

    
      	
              54  

            	
              In
      case this Agreement or any part of it is assigned or transferred to a
      third party, such third Party shall automatically be bound by the
      provisions of this arbitration
clause.

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

     

    This
Agreement has been duly executed in two original copies, of which each of the
Parties has taken one copy.

     

     

     

    BUYER:

     

    Cambridge,
Massachussettes

     

     

    
      Business
Marketing Services, Inc

    

     

    
      /s/ Hans
Pandeya                           

    

    Name:Hans
Pandeya

    Title:
President

     

     

    
      SELLER:

    

    
    

     

    
      	
              Gtrade
 

            	 

    

     

     

    
      	 	 	 
	Name:	 	Name:
	 	 	 
	Title: 	 	Title:

    

     

     

    
      	 	 
	Name:	 
	 	 
	Title:	 

    

     

                                                                      

    
      	/s/ Guy
      Havenstein 	 	/s/Emil Koutanov
      
	Guy
      Havenstein 	 	Emil
    Koutanov
	 	 	 
	 	 	 
	/s/ Tony
      Fle-Danijelovich	 	 
	Tony
      Fle-Danijelovich	 	 

    

     

     

    10f8k120310ex10iii_business.htm

     

    Exhibit
10.3

     

    PROMISSORY
NOTE

     

    
      	U.S.
      $300,000   	March 12,
  2010

    

    
 

    FOR VALUE
RECEIVED, the undersigned, Business Marketing Services, Inc. (the "Borrower"),
hereby promises to pay jointly to the order of Emil Koutanov, Guy Havenstein and
Tony Fle-Danijelovich ("Lender") the principal sum of $300,000, plus any accrued
interest, on May 31, 2010, either in cash or by delivery of a number of shares
of the Borrower’s common stock (“Converted shares”),that is determined by the
daily average closing stock price taken from the date of this Note until the
Conversion Date. Notwithstanding the foregoing, the number of shares the Lender
receives shall not be lower than 300,000.

     

    An "Event
of Default" shall occur and be continuing if any of the following shall have
occurred and be continuing:  (a) any payment required hereunder shall not
be received by Lender within thirty business days following its due date, or (b)
upon any breach by Borrower of this Note.

    

    In case
an Event of Default shall occur and be continuing, Lender shall have such rights
and remedies as set forth herein and in the Agreement.

    

    At the
option of Lender, the entire unpaid balance of the Note, including principal and
interest, shall become immediately due and payable without notice or demand upon
the occurrence of any of the following events:  (i) any Event of Default,
(ii) the filing of a petition in bankruptcy or a petition to take advantage of
any insolvency act by Borrower, (iii) making an assignment for the benefit of
its creditors, commencement of a proceeding for the appointment of a receiver,
trustee, liquidator or conservator for either Borrower or for any substantial
part of its property (iv) filing of a petition or action seeking reorganization,
arrangement or similar relief under federal bankruptcy laws or any other
applicable laws or statutes of the United States or any state (v) or the
commencement of proceedings similar to the foregoing by any third or other
parties against Borrower, which proceedings are not dismissed within thirty (30)
days after commencement thereof.

     

    The
Borrower will not impede upon the Lender's rights to the full enjoyment
including
the sale of the Converted Shares beyond those limitations that are
imposed by the U.S. Securities and Exchange Commission (the "SEC").

     

    This Note
is not transferable by Lender or Borrower.

    

    The
nonexercise by Lender of any of its rights hereunder in any particular instance
shall not constitute a waiver thereof in that or any subsequent
instance.

    

    This Note
shall be construed and enforced in accordance with the laws of the courts of
NSW, Australia, without giving effect to any choice of law or conflicts of law
provision or rule that would cause the application of the law of any other
jurisdiction.  The parties agree that service of process in any action
arising in connection with this Note shall be deemed valid if made by registered
mail, return receipt requested, sent to the addresses set forth
herein.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, Borrower has executed this Note as of the date first above
written and has delivered this Note to Lender.

    

     

    
      	 	BUSINESS MARKETING SERVICES,
      INC.
	 	 	 
	 	By:	
              /s/
      Hans Pandeya

            
	 	 	 
	 	Print:	
              Hans
      Pandeya

            
	 	 	 
	 	Title:	President

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