Document:

FORM OF SECURED BRIDGE NOTE

 

THIS BRIDGE NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, PLEDGED, OFFERED FOR SALE, ASSIGNED OR TRANSFERRED UNLESS (A) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT, AND ANY APPLICABLE STATE SECURITIES LAW REQUIREMENTS HAVE BEEN MET OR (B) EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT AND THE REGISTRATION OR QUALIFICATION REQUIREMENTS OF APPLICABLE STATE SECURITIES LAWS ARE AVAILABLE.

 

NATIVE AMERICAN ENERGY GROUP, INC.

SECURED BRIDGE NOTE

_________, 2011

New York, NY

FOR VALUE RECEIVED, NATIVE AMERICAN ENERGY GROUP, INC., a Delaware corporation, (“NAGP”) promises to pay to the order of _________________________________________ (“Investor”) the principal amount of ___________________________ Dollars ($______________), together with interest on the unpaid principal amount based on a 365-day year, all upon the terms set forth below. This secured Bridge Note (the “Bridge Note”) is issued pursuant to that certain Financing Agreement, dated as of July 25, 2011, executed by NAGP, High Capital Funding, LLC, as Lead Investor, and David A. Rapaport as Escrow Agent (the “Financing Agreement”), with Investor’s signature either affixed thereon or incorporated by reference as evidenced by Investor’s signature on the accompanying  Subscription Agreement. This Bridge Note is subject to the terms and conditions of the Financing Agreement. To the extent that any of the terms specifically set forth in the Financing Agreement is inconsistent with the provisions of this Bridge Note specifically relating to such matters, the Financing Agreement shall govern with respect to such inconsistencies. To the extent relevant to this Bridge Note, the terms of the Financing Agreement are incorporated herein by reference as though fully set forth herein. This Bridge Note is one of a series of Bridge Notes (the Bridge Notes”), aggregating up to Six Hundred Thousand dollars in principal amount of Bridge Notes being offered and sold pursuant to the Financing Agreement; provided, however, that Bridge Notes aggregating up to an additional One Hundred and Fifty Thousand dollars in principal amount may be offered and sold at the request of the Company with the approval of the Lead Investor. Italicized terms used herein and not otherwise defined have the meanings ascribed to them in the Financing Agreement.

  

B - 1

  

	
1.

	
Interest.

a.            6.25% per annum during the initial term of this Bridge Note payable at the Maturity Date (as defined in “2. Maturity.” below);

 

b.           8.25% per annum during any Extension Period (as defined in “2. Maturity.” below), payable at the end of each Extension Period; and

 

c.           12.25% per annum default interest rate after the final Extension Period, payable monthly.

	
2.

	
Maturity.

 

a. The entire principal amount of this Bridge Note and all accrued and unpaid interest thereon is due and payable upon the earlier of (i) September 30, 2011, or within two business days following the closing of any and all other equity and/or debt financing totaling $3,000,000 or more (“Permanent Financing”)(the “Maturity Date”); provided that NAGP shall make mandatory prepayments on the Bridge Notes equal to 25% of the gross proceeds received from each closing of the first $3,000,000 of Permanent Financing, which shall be applied to the outstanding principal. Such mandatory prepayments shall be paid to the Escrow Agent for the benefit of the Holders of Bridge Notes on a pro rata basis.

 

b. This Bridge Note may be prepaid at any time without premium or penalty.

 

c.  In the event NAGP shall not have closed on a cumulative total of $3,000,000 or more of Permanent Financing on or before September 30, 2011, NAGP shall have the right to extend the Maturity Date for up to two additional one month periods (each an “Extension Period”), until November 30, 2011  (each an “Extended Maturity Date”), by providing written notice of such extension to the Placement Agents, the Lead Investor, and the Escrow Agent within three business days prior to any Maturity Date or Extended Maturity Date.

 

	
3.

	
Method of Payment.  Any payment of principal or interest hereunder shall be made by check unless Holder has provided NAGP with appropriate wire instructions, in which event, the payment shall be made by wire transfer of “same day” funds. For the purpose of any interest calculation, payment shall be deemed made when the check is sent by overnight delivery or when the wire is sent. Any partial payment shall be applied first to a reduction of principal and thereafter to accrued and unpaid interest. If this Bridge Note, or any payment hereunder, falls due on a Saturday, Sunday or a day that is a public holiday in the State of New York, any payment due hereunder shall be made on the next succeeding business day and such additional time shall be included in the computation of any interest payable hereunder.

 

	
4.

	
Security.  Repayment of this Bridge Note shall be secured by a lien on certain tangible and intangible assets of the NAGP and its consolidated subsidiaries as described in Schedule A to the Financing Agreement.

 

  

B - 2

  

 

	
5.

	
Default.  In the event of an occurrence of any event of default specified below, the Lead Investor may declare a default, upon which, the principal of, and all accrued and unpaid interest on, the Bridge Note shall become immediately due and payable without notice, except as specified below:

 

	
  

	
a.

	
NAGP fails to make any payment hereunder when due, which failure has not been cured within Five (5) business days following such due date.

 

	
  

	
b.

	
Any defined event of default occurs under any contract or instrument pursuant to which NAGP has incurred any liability for borrowed money in excess of One Hundred Thousand Dollars ($100,000.00), which event of default has not been waived within Five (5) business days following such occurrence, and which event of default is reasonably likely to materially affect NAGP’s business.

 

	
  

	
c.

	
NAGP files a petition to take advantage of any insolvency act; makes an assignment for the benefit of its creditors; commences a proceeding for the appointment of a receiver, trustee, liquidator or conservator of itself of a whole or any substantial part of its property; files a petition or answer seeking reorganization or arrangement or similar relief under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state and Ninety (90) calendar days expire without dismissal thereof).

 

	
  

	
d.

	
A court of competent jurisdiction enters an order, judgment or decree appointing a custodian, receiver, trustee, liquidator or conservator of NAGP or of the whole or any substantial part of its properties, or approves a petition filed against NAGP seeking reorganization or arrangement or similar relief under the federal bankruptcy laws or any other applicable law or statute of the United States of America or any state; or if, under the provisions of any other law for the relief or aid of debtors, a court of competent jurisdiction assumes custody or control of NAGP or of the whole or any substantial part of its properties; or there is commenced against NAGP any proceeding for any of the foregoing relief and such proceeding or petition remains undismissed for a period of Ninety (90) calendar days; or if NAGP by any act indicates its consent to or approval of any such proceeding or petition.

 

	
  

	
e.

	
If (i) any judgment remaining unpaid, unstayed or undismissed for a period of Sixty (60) calendar days is rendered against NAGP which by itself or together with all other such judgments rendered against NAGP remaining unpaid, unstayed or undismissed for a period of Sixty calendar (60) days, is in excess of One Hundred Thousand Dollars ($100,000.00), or (ii) there is any attachment or execution against NAGP’s properties remaining unstayed or undismissed for a period of Sixty (60) calendar days which by itself or together with all other attachments and executions against NAGP’s properties remaining unstayed or undismissed for a period of Sixty (60) calendar days is for an amount in excess of One Hundred Thousand Dollars ($100,000.00).

 

  

B - 3

  

	
6.

	
Cumulative Remedies.  The remedies of Investor as provided herein, in the Security Documents, or any one or more of them, or in law or in equity, shall be cumulative and concurrent, and may be pursued singularly, successively or together at Investor's sole discretion, and may be exercised as often as occasion therefore shall occur.

 

	
7.

	
Successors and Assigns.  The Bridge Note is transferable and assignable by Investor or any subsequent permitted assignee subject to the requirement that any such assignment or transfer be, in the opinion of NAGP’s counsel, in compliance with applicable federal and state securities laws. The assignee shall be referred to herein as a “Holder.” All covenants, agreements and undertakings in the Bridge Note by or on behalf of any of the parties shall bind and inure to the benefit of the respective successors and assigns of the parties whether so expressed or not.

 

	
8.

	
Notices.  Any and all notices, requests, consents and demands required or permitted to be given hereunder shall be in writing and shall be deemed given and received (i) upon personal delivery, (ii) upon the first business day following the receipt of confirmation of facsimile transmission to the telefax number or email as indicated below, (iii) upon delivery by overnight courier, prepaid and delivered on a business day; or (iv) upon the third business day after deposit in the United States mail, by certified or registered mail, postage prepaid and addressed as follows:

 

	
To Investor:

	
[to the address and facsimile provided in

	  	
Subscription Agreement between NAGP

	  	
and the Investor executed in connection with

	  	
the purchase and sale of this Bridge Note]

	  	  
	
To NAGP:

	
Native American Energy Group, Inc.

	  	
108-18 Queens Blvd., Suite 901

	  	
Forest Hills, NY 11375

	  	
Tel: 718 408-2323

	  	
Fax: 718 793-4034

	  	  
	  	
Att:  Raj Nanvaan,  CFO, COO

Either party may change by notice the address to which notices to that party are to be addressed.

 

	
9.

	
Waivers/Forebearance/Amendment.  NAGP hereby waives presentment for payment, demand, protest and notice of protest for nonpayment of the Bridge Note and consents to any extension or postponement of the time of payment or any other indulgence. Investor shall not be deemed, by any act or omission, to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Investor and then only to the extent specifically set forth in such writing. A waiver with reference to one event shall not be construed as continuing or as a bar to or waiver of any right or remedy as to a subsequent event. No delay or omission of Investor to exercise any right, whether before or after a default hereunder, shall impair any such right or shall be construed to be a waiver of any right or default, and the acceptance at any time by Investor of any past-due amount shall not be deemed to be a waiver of the right to require prompt payment when due of any other amounts then or thereafter due and payable. Notwithstanding the foregoing, any provision of this Bridge Note may be waived or amended upon the written consent of the NAGP and the consent of the holder of this Bridge Note. The Bridge Note may only be amended or modified by written agreement signed by NAGP and Holder.

 

  

B - 4

  

 

	
10.

	
Expenses.  In the event that Holder brings legal action against NAGP, or NAGP brings legal action against Holder, to enforce or otherwise determine the meaning or enforceability of the Bridge Note or any provision hereof, each party shall bear its own expenses, including attorney fees, directly attributable to such action. However, in any action for breach of the Bridge Note, including nonpayment, the prevailing party in any such dispute shall be entitled to recover all reasonable costs and attorney fees incurred in connection with such action. In addition, Investor shall be entitled to recover from NAGP all reasonable costs of collection, including without limitation, legal fees and expenses incurred in any bankruptcy and/or state insolvency proceeding.

 

	
11.

	
Appointment of Lead Investor as Agent of Investor.  The Lead Investor is appointed as the agent of the Investor with full authority to exercise any and all rights and remedies of the Investor under this Bridge Note and to modify or amend this Bridge Note, in any and all respects, with the consent of NAGP. However, the Lead Investor shall not have the authority to reduce the principal amount owing under this Bridge Note without the written consent of at least seventy-five percent in interest of the Holders of all of the Bridge Notes of the same series issued pursuant to the Financing Agreement, except as part of a compromise and/or settlement of claims against NAGP arising from a default under the such Bridge Notes.

 

	
12.

	
Choice of Law.  The Bridge Note shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of New York. The parties agree that venue for any suit, action, proceeding or litigation arising out of or in relation to this Bridge Note will be in any federal or state court in the City of New York having subject matter jurisdiction, and the parties hereby submit to the jurisdiction of that court.

 

WITH RESPECT TO ANY CLAIM OR ACTION ARISING UNDER THIS BRIDGE NOTE, EACH PARTY HEREBY (A) IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES DISTRICT COURT LOCATED IN THE CITY OF NEW YORK, STATE OF NEW YORK, AND (B) IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY HAVE AT ANY TIME TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS BRIDGE NOTE BROUGHT IN ANY SUCH COURT, IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER IRREVOCABLY WAIVES THE RIGHT TO OBJECT, WITH RESPECT TO SUCH CLAIM, SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT, THAT SUCH COURT DOES NOT HAVE JURISDICTION OVER SUCH PARTY. NOTHING IN THIS BRIDGE NOTE WILL BE DEEMED TO PRECLUDE THE INVESTOR FROM BRINGING AN ACTION OR PROCEEDING IN THE STATE OF MONTANA.

  

B - 5

  

IN WITNESS WHEREOF, this Bridge Note has been executed and delivered on the date specified on the first page hereof by the duly authorized representative of Investor.

	
NATIVE AMERICAN ENERGY GROUP, INC.

	
a Delaware corporation

	  	  
	
By:

	   
	  	   
	  	   
	  	  
	
Its:

	   

 

  

B - 6Unassociated Document

Native American Energy Group, Inc. (“NAGP”)

High Capital Funding, LLC (“HCF”)

November 8, 2011

Loan Terms Agreement

	
1.  

	
In the event NAGP does not receive funding of at least $450,000 between Monday,  November 7, 2011 and Friday,  November 25, 2011 from one or more of the following sources, HCF will provide Secured Loans to NAGP to make up the shortfall:

	
a.    

	
Closing of the remaining $200,000 of the  $750,000 bridge loan financing pursuant to the Financing Agreement dated as of July 25, 2011 by and among  NAGP, HCF as Lead Investor and David A. Rapaport as the Escrow Agent, and the Investors signatory thereto (“the Bridge Loan Financing”) for Bridge Units of  NAGP, each Bridge Unit comprised of a $25,000 Bridge Note and 50,000 shares of the Company’s common stock at a price of $25,000 per Bridge Unit;

	
b.     

	
Factoring and/or receivables financing of sales of oil to Shell Oil.  NAGP will cooperate fully in arranging the factoring/receivables financing of the Shell Oil Receivables and shall execute all documents needed to do so.  HCF and NAGP shall use their respective best efforts to secure a receivables lender not affiliated with HCF by Wednesday November 16, 2011.  However, if such an arrangement is not concluded by Wednesday, November 16, 2011, NAGP and HCF shall enter into a secured receivables financing agreement.

	
c.    

	
Private sales of NAGP common stock, and convertible securities, with proceeds to NAGP of not less than $0.50 per common share, and any warrants with a strike price of not less than $0.50 for each common share.

	
d.    

	
Any other fundings approved for this purpose in writing by NAGP and HCF.

In no way is HCF guaranteeing financing by any third parties; HCF is merely acting as an investor should sufficient third party financing not be available.

	
2.  

	
The funds are to be received by NAGP on approximately the following schedule:

 

	 	
a. 

	
Mon Nov 7, 2011

	
$ 60,000

	 	  	  	  
	 	
b. 

	
Fri Nov 11, 2011

	
$ 90,000

	 	  	  	  
	 	
c. 

	
Fri Nov 18, 2011

	
up to $150,000 as requested by NAGP

	 	  	  	  
	 	
d. 

	
Fri Nov 25, 2011

	
up to $150,000 as requested by NAGP

 

	
3.  

	
HCF shall lend NAGP $371,000 on one or more secured notes (the “Secured Loans”).  The new Secured Loans shall be secured with the same collateral as the Bridge Notes, and shall be subordinate only to such Bridge Notes.  The Secured Loans shall bear interest at the rate of 6.25% per year, and shall mature on February 29, 2012.  The Secured Loans shall be prepaid at the final closing of any equity and/or debt financing of at least $3,000,000 which occurs after November 30, 2011; provided, however, that any remaining outstanding Bridge Notes shall be repaid prior to the repayment of any of HCF’s Secured Loans.

 

  

  

  

 

	
4.  

	
The principal and interest of the $351,000 of NAGP unsecured demand loans to HCF shall be repaid on or before Tuesday, November 15, 2011.

	
5.             a.

	
NAGP has represented to HCF, that subject to NAGP’s timely receipt of funding pursuant to 2.a. and 2.b. above, commencing no later than Friday, November 11, 2011, each of the Sandvick 1-11and Wright 5-35 wells will be producing not less than 60 bbls a day of oil per each 24 hour period.  For purposes of the preceding sentence, “producing” means that the pumpjack is operating continuously as scheduled and fluids are being pumped from the well to the heater treater as scheduled, resulting in saleable oil having flowed into the oil tanks, which will be collected by Shell Oil from time to time.

	
b.    

	
On or before 6PM EDT on Thursday, November 17, 2011 NAGP shall deliver to HCF the written certification (Certification) of its CEO and CFO/COO to the following:

	
i.     

	
The total oil production for each of the Sandvick  and the Wright wells from Friday, November 11, 2011 through Thursday November 17, 2011, specifying the number of bbls of oil produced by each well per day during that time period (Measurement Period);

	
ii.     

	
The total number of hours per day that the pumpjack on each well was operating  during the Measurement Period; and for any periods a pumpjack was not operating, the reason therefor, and corrective action taken or to be taken, if necessary.

	
  

	
c.

	
If the Certification, provided timely to HCF, states that either or both of the Sandvick and Wright wells has been in full and continuous non-interrupted production (excluding scheduled or unscheduled well maintenance) during the Measurement Period and either or both has produced an average of at least 50 bbls of oil per day per well during the Measurement Period, then HCF shall be required to provide the funding as per 2.c. above, as requested.

	
  

	
d.

	
On or before 6PM EST on Thursday, November 24, 2011 NAGP shall deliver to HCF the written certification (Second Certification) of its CEO and CFO/COO to the following:

	
i.     

	
The total oil production for each of the Sandvick  and the Wright wells from Friday, November 18, 2011 through Thursday November 24, 2011, specifying the number of bbls of oil produced by each well per day during that time period (Second Measurement Period);

 

  

  

  

 

	
ii.     

	
The total number of hours per day that the pumpjack on each well was operating  during the Second Measurement Period; and for any periods a pumpjack was not operating, the reason therefor, and corrective action taken or to be taken, if necessary.

	
e.     

	
If the Second Certification, provided timely to HCF, states that both the Sandvick and Wright wells have been in full and continuous non-interrupted production (excluding scheduled or unscheduled well maintenance) during the Second Measurement Period, and have produced an average of at least 50 bbls of oil per day per well during the Second Measurement Period then HCF shall be required to provide the funding set forth in 2.d. above, as requested.

	
f.      

	
In the event that either or both of the milestones set forth in 5.c. or 5.e. have not been satisfied by November 17, 2011 or November 24, 2011, respectively, then HCF may in its sole discretion, but is not required to, provide the fundings in whole or in part in accordance with 2.c. and/or 2.d. above.

	
  

	
g.

	
In the event that either or both of the milestones set forth in 5.c. or 5.e. have not been satisfied by November 17, 2011 or November 24, 2011, respectively, then NAGP shall be required to deliver to HCF, within 24 hours of a written request therefor, a schedule of the specific work, and the cost therefor, and equipment and the cost therefor, required to place the Sandvick, or the Wright wells, or both of them into continuous full production.

	
  

	
h.

	
In an effort to get the Sandvick and/or Wright wells into continuous full production, HCF may, in its sole discretion, provide funding to NAGP, and/ or may pay directly for equipment and service providers as necessary, such amounts to be evidenced by additional Secured Loan notes.

	
6.  

	
In consideration of HCF’s funding commitment set forth in 2. above, NAGP shall issue and deliver to HCF, in lieu of equity kicker shares (as provided for in the Bridge Loan Financing), five year cashless exercise warrants to purchase shares of NAGP common stock at par value, the exercise terms of which shall restrict HCF from being the beneficial owner of more than 9.95 % of NAGP common stock immediately following any warrant exercise.  Each warrant shall be deemed to have a value for tax purposes of $0.10.

	
a.  

	
HCF shall receive 371,000 warrants in consideration of the $371,000 of Secured Loans being made in accordance with 3. above;

  

  

  

	
b.    

	
HCF shall receive one warrant for each $1.00 of additional Secured Loans made pursuant to this commitment (not including any receivables financing or factoring of NAGP Shell Oil receivables); provided that if the milestones set forth in 5.c. or 5.e. above are not satisfied, HCF shall receive two warrants for each $1.00 of additional Secured Loans which it elects to make pursuant to this Loan Terms Agreement.

	
7.              a.

	
NAGP represents and warrants that it has not issued any shares of common stock for less than $0.50 per share, other than in connection with the Bridge Loans, from July 25, 2011 to November 8, 2011.  Subject to Sections 7(b) and 7(c) below, NAGP shall not issue any shares, convertible securities, or warrants for a purchase price or strike price of less than $0.50 per share of common stock for a period commencing on November 8, 2011 and terminating on November 22, 2011.  However, should NAGP find it necessary to issue any shares, convertible securities, or warrants with a purchase price or a strike price of less than $0.50 per share of common stock, then the holders of NAGP common stock who have received such common stock as either: (i) part of Bridge Units pursuant to the Bridge Loan Financing; or (ii) HCF in accordance with the warrants issued pursuant to this Loan Terms Agreement; and (iii) the purchasers of units of preferred stock and common stock pursuant to the Intended Equity Financing described in Subsection 7.b.ii below , shall be entitled to receive, without further payment, that number of additional common shares, and in the case of HCF under this Loan Terms Agreement, warrants (the “Dilution Shares”) that will result in their common stock ownership (including upon exercise of any warrants) representing the same percentage ownership of NAGP that existed immediately prior to the sale of shares of common stock or instruments convertible into common stock at less than $0.50 per share, or the sale of any warrants with a strike price of less than $0.50 per share.

	
  

	
b.

	
The termination of the provisions of Section 7(a) (the “Anti-Dilution Provisions”) shall be extended automatically upon the achievement of the following milestones:

	
i.     

	
Upon the closing of an aggregate of $750,000 of the Bridge Loan Financing by November 22, 2011, of which $550,000 has been closed on as of the date of this Loan Terms Agreement, the termination of the Anti-Dilution Provisions shall be extended to January 13, 2012;

	
ii.     

	
Upon the receipt by NAGP by January 13, 2012 of at least $1,500,000 in an equity financing of at least $3,000,000 which occurs after November 15, 2011 (the “Intended Equity Financing”), the termination of the Anti-Dilution Provisions shall be extended to February 15, 2012; and

	
iii.   

	
Upon the receipt by NAGP by February 15, 2012 of at least $3,000,000 in aggregate in the Intended Equity Financing, the termination of the Anti-Dilution Provisions shall be extended to October 31, 2012.

	
  

	
c.

	
Notwithstanding Section 7(a), NAGP may issue or reserve for issuance shares, convertible securities, or warrants for a purchase price or strike price of less than $0.50 per share of common stock (i) to employees, directors and consultants of NAGP and its affiliates pursuant to the 2011 Equity Incentive Plan adopted by the NAGP’s Board of Directors (the “Board”) effective June 6, 2011; (ii) to employees, directors, and consultants of NAGP and its affiliates pursuant to any other stock purchase or stock option plans or agreements, or other incentive stock arrangements, approved by the Board and HCF; (iii) as a result of stock splits, stock dividends, or similar transactions; (iv) upon the conversion of any of the Company’s presently outstanding Series A Convertible Preferred stock; (v) in any transaction in which the exemption from the Anti-Dilution Provisions is approved by HCF; (vi) as contemplated in Sections 1 and 5 of this Loan Terms Agreement; and (vii) issued to plaintiffs in connection with the settlement of Steven Freifeld, et al. v. Native American Energy Group, Inc., et al., (Index No. 005503-2010) in order to extend the deadline for the release of  shares being held in escrow pursuant to the confidential conditional settlement agreement between the parties to such litigation or to otherwise settle such litigation.

 

  

  

  

 

Both parties agree to execute such Further Documents as necessary or desirable to carry out the intent of the above terms.  In the event there is a conflict between such Further Documents and this Loan Terms Agreement, the provisions of this Loan Terms Agreement shall govern.

IN WITNESS WHEREOF, the parties hereto have duly executed this Loan Terms Agreement as of the date set forth below by each signature.

Native American Energy Group, Inc.

	

By:

	/s/ Joseph G. D’Arrigo	
 

	

Date:

	11-11-11	  
	 	
Joseph G. D’Arrigo, CEO

	  	  	  	  
	 	  	  	  	  	  
	 	
/s/ Raj Nanvaan

	  	
Date:

	11-11-11	  
	 	
Raj Nanvaan, CFO & COO

	  	  	  	  
	 	  	  	  	  	  
	 	  	  	  	  	  
	High Capital Funding, LLC	  	  	  	  
	 	  	  	  	  	  
	 	  	  	  	  	  
	

By:

	
 /s/ Frank E. Hart

	 	

Date:

	11-11-11	  
	 	
Frank E. Hart, President

	  	  	  	  
	 	
Profit Concepts, Ltd,. Manager

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