Document:

exhibit10-25.htm

EXHIBIT 10.25

 

FIRST AMENDMENT TO AGREEMENT FOR THE PURCHASE

 

OF ALL THE SHARES OF CAPITAL STOCK

 

OF COLLINS CONSTRUCTION, INC.

 

THIS FIRST AMENDMENT TO AGREEMENT FOR THE PURCHASE OF ALL THE SHARES OF CAPITAL STOCK OF COLLINS CONSTRUCTION, INC. ("First Amendment") is made and entered into by and between COLLINS CONSTRUCTION, INC., a Colorado corporation ("Collins"), FRANK W. COLLINS and JOSHUA GOODSELL ("Sellers") and GEOBIO ENERGY, INC., a publicly-traded Colorado corporation ("Purchaser"), WITNESSETH:

 

WHEREAS, the parties entered into that certain Agreement for the Purchase of All the Shares of Capital Stock of Collins Construction, Inc., having an effective date of March 31, 2010 (the "Purchase Agreement"); and

 

WHEREAS, Purchaser has the right; to extend the Closing Date until July 1, 2010 upon deposit of an additional Fifty Thousand Dollars ($50,000) on or prior to June 1, 2010 and the issuance of Two Hundred Thousand (200,000) shares of Purchaser's common stock to Sellers;

and

 

WHEREAS, Purchaser is desirous of extending the time in which to exercise the option to extend the Closing Date and change the Extended Closing Date; and

 

WHEREAS, the parties have agreed to amend the Purchase Agreement as set forth below.

 

NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions contained herein, the parties hereto agree to amend the Purchase Agreement as follows:

 

1. Section 1.06 of the Purchase Agreement is hereby deleted in its entirety and replaced with the following language:

 

1. 06. Purchaser's Right to Extend Chasing Date. Purchaser shall have the right and option to extend the Closing Date until July 16, 2010 (the "Extended Closing Date"), for and in consideration of the following:

 

;

 

(a) On or before June 2, 2010, the Earnest Money of Fifty Thousand Dollars ($50,000) currently on deposit with Escrow Agent shall be forfeited by Purchaser, become the sale properly to Sellers and be immediately paid over to Sellers without being credited to the Purchase Price Consideration due at Closing; and

 

(b) Purchaser's deposit of an additional Fifty Thousand Dollars ($5O,OOO) with Escrow Agent on or prior to June 4, 2010, which amount shall be delivered to Sellers at Closing and credited against the Cash Consideration due at Closing; and Agent: (i) shall forward the Capital Stock and the Corporate Documents of Collins to GeoBio; (ii) shall transfer the Cash Consideration to Sellers' designated account(s) and deliver the Note to Sellers; and (iii) take such other actions as necessary to close the transaction as contemplated herein.

 

1.04 Opening of Escrow. Upon both the signing of this Agreement and Escrow Agent's receipt of the Earnest Money, the escrow shall be opened und in effect.

 

1.05 Date of Closing. The Closing will take place on 01' before June 1, 2010 (the "Closing Date"), under the terms described in Article IV of this Agreement at the offices of Escrow Agent.

 

1.06 Purchaser's Right to Extend Closing Date. Purchaser shall have the right and option to extend the Closing Date until July 1, 2010 (the "Extended Closing Date"), for and ill consideration of the following:

 

(a) Purchaser's deposit of an additional Fifty Thousand Dollars ($50,000) with Escrow Agent on or prior to June 1, 2010. In the event Purchaser extends the Closing Date, such Fifty 1110usand Dollar ($50,000) payment shall be delivered to Sellers at Closing and credited against the Cash Consideration due at Closing.

 

AND

 

(b) Purchaser shall issue Two Hundred Thousand (200,000) shares of GeoBio's common stock to Sellers within fifteen (15) days following GeoBio's next reverse split of its issued and outstanding stock (the "Reverse Stock Split"), which GeoBio expects to occur prior to September 1,20]0, but in no event later than December 31, 2010. In the event the Reverse Stock Split does not take effect prior to June l, 2010, Purchaser shall provide Sellers additional written evidence of the Sellers' right to and ownership in the Two Hundred Thousand (200,000) shares of GeoBio common stock.

 

In the event Purchaser extends the Closing Date, but fails to perform its obligation to close the transaction contemplated herein, the Earnest Money, as well as all payments and consideration required to extend the Closing Date, shall constitute liquidated damages and shall be forfeited by Purchaser and retained on behalf of Sellers.

 

ARTICLE II REPRESENTATIONS AND WARRANTIES

 

Collins and the Sellers hereby represent and warrant to GeoBio, the following:

 

2.01 Organization. Collins is a corporation duly organized in the State of Colorado and has all necessary corporate powers to conduct business. All actions taken by the incorporators, directors and/or shareholders of Collins have been valid and in accordance with the laws of the State of Colorado.

 

(c) Purchaser shall issue Two Hundred Thousand (200,000) shares of GeoBio's common stock to Sellers within fifteen (15) days following GeoBio's next reverse split of its issues and outstanding stock (the “Reverse Stock Split"), which GeoBio expects to occur prior to September 1, 2010, but in no event later than December 31, 2010. In the event the Revenue Stock Split does not take effect prior to July 16,2010, Purchaser shall provide Sellers additional written evidence of the sellers' right to and ownership in the Two Hundred Thousand (200,000) shares of GeoBio common stock.

 

 

In the event Purchaser extends the Closing Date, but fails to perform its obligation to close the transaction contorupiated herein, fail payments and consideration required to extend the Closing Date, shall constitute liquidated damages and shall be forfeited by Purchaser and retained on behalf of  Sellers.

 

2. Section 4.02(b)(i) shall be deleted in its entirety and replaced with the following language:

 

 

"The balance of the Cash Consideration due at Closing, in certified or other good funds, after applying any payment made to extend the Closing Date pursuant to paragraph 1.06(b);

 

3. All other terms, conditions and provision of the Purchase Agreement shall remain the same and in full force and effect. In the event of any conflict between the Purchase Agreement and this First Amendment, the terms and condition of this First Amendment shall control.

 

This document may be executes in various counterparts, and when all parties have executed a copy hereof, the executed copies taken together shall be deemed to be the full and complete agreement of the parties.

 

 

The signature of any party transmitted electronically shall have be deemed as valid and binding as an original signature.

 

____ IN WHITMESS WHEREOF, the parties hereto have executed this First Amendment the ___ day of June, 2010.

 

SELLERS:                                                                BUYER:

 

/s/ Frank W. Collins                                              GEOBIO ENERGY, INC.,

 

Frank W. Collins                                                    a publically-traded Colorado corporation

 

/s/ Joshua Goodsell                                              /s/ Lance Miyatovich

                                                                                  By:

Joshua Goodsell                                                     Lance Miyatovich, Chief Executive Officer, Chairman

 

COLLINS CONSTRUCTION, INC.,

 

 a Colorado corporation

 

                /s/ Frank W. Collins

By: 

                Frank W. Collins, Presidentexhibit10-26.htm

EXHIBIT 10.26

AMENDMENT NO. 3 TO AGREEMENT

FOR THE PURCHASE OF ALL OF THE

SHARES OF CAPITAL STOCK OF

H&M PRECISION PRODUCTS, INC.

THIS AMENDMENT NO. 3 (the “Amendment”) is entered into this _____day of June 2010, and amends (i) the Agreement For The Purchase Of Shares Of Capital Stock Of H&M Precision Products, Inc., by and among H&M Precision Products, Inc., a New Mexico corporation (“H&M”), the security holders of H&M (the “Sellers”) and GeoBio Energy, Inc., a publicly traded Colorado corporation (“GeoBio”), executed on or around March 26, 2010 (the “Agreement”), (ii) Amendment No. 1 to the Agreement executed on or around April 16, 2010 (“Amendment No. 1”) and (iii) Amendment No. 2 to the Agreement executed on or around May 27, 2010 (“Amendment No. 2”).

WHEREAS, the Parties now wish to amend the Agreement, Amendment No. 1 and Amendment No. 2 to adjust certain terms regarding the Purchase Price, Closing Date and other consideration in order to account for a change in the business of H&M during 2009 and 2010; and

WHEREAS, all capitalized terms set forth herein retain their meaning as set forth in the Agreement, Amendment No. 1 and Amendment No. 2, unless otherwise defined herein; and

WHEREAS, except as set forth herein, all other terms of the Agreement, Amendment No. 1 and Amendment No. 2 shall remain in full force and effect;

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, it is hereby covenanted and agreed to by the Parties as follows:

	
1.  

	
Section 1.05 of the Agreement and Amendment No. 1 is deleted in its entirety, and replaced with the following language:

"1.05           Date of Closing.  The Closing will take place:

(a) on or before August 6, 2010 (the “Closing Date”), under the terms described in Article IV of this Agreement at the Val R. Jolley, P.C. Law Office, 4801 N. Butler, Suite 4000, Farmington, New Mexico 87401.  Prior to the Closing Date and the Extended Closing Date, defined below, GeoBio shall have the exclusive right to purchase H&M.  The Closing shall be subject to:

(i) GeoBio having filed:

	
o  

	
Schedule 14C for the recapitalization of GeoBio’s common stock;

	
o  

	
Form 8-K detailing the acquisition of H&M, including the requisite pro forma financials of the companies;

	
o  

	
All financials required to bring GeoBio current with its public financial information, including its Form 10Ks for the fiscal years ended September 30, 2008 and 2009, and its Form 10Qs for the quarters ended December  31, 2008, March 31, 2009, June 30, 2009, December 31, 2009, and March 31, 2010 (the “Current Filings”); and

	
o  

	
A Form S-1 for the registration of any stock issued pursuant to the financing of GeoBio’s acquisition of H&M, to the extent required by such financing investors, and

(ii) The Securities and Exchange Commission having approved the Schedule 14C, Form 8-K and the Current Filings and having declared the Form S-1, if any, to be “effective”;

(b) Extended Closing Date.  In the event that the conditions of Section 1.05(a) are not met as of August 6, 2010, the Closing Date shall be extended to September 10, 2010 (the “Extended Closing Date”).”

	
2.  

	
Section 1.06 of Agreement, Amendment No. 1 and Amendment No. 2 is deleted in its entirety and replaced with the following language:

"1.06           Down Payment and Deposit.  GeoBio agrees to provide a non-refundable, Twenty-five thousand dollar ($25,000.00) down payment (“Down Payment”), which shall be credited against the Purchase Price of H&M.  The Down Payment shall be payable to the Sellers, to be delivered to the Trust Account of Val R Jolley, PC, upon the later of (i) the close of business on July 2, 2010 or (ii) the Seller’s execution of this Amendment.”

	
3.  

	
Section 4.01 of the Agreement and Amendment No. 1 is deleted in its entirety and replaced with the following language:

“4.01           Closing.  The Closing of the transaction will occur not later than August 6, 2010, at 4:00 pm PST, at the Val R. Jolley, P.C. Law Offices, 4801 N. Butler, Suite 4000, Farmington, New Mexico 87401, unless extended to the Extended Closing Date on September 10, 2010, pursuant to Section 1.05(b) of this Amendment, at which time the Original Documents and all corporate records of H&M have been approved by GeoBio and received by the Escrow Agent, and the Purchase Price has been delivered (the “Closing”) to the Escrow Agent.  The parties acknowledge that the Closing is conditioned upon the Purchaser having received the Financing required to fund the Cash Consideration, as set forth in Section 1.01(a) of this Agreement.”

	
4.  

	
Except as set forth herein, all other terms to the Agreement, Amendment No. 1 and Amendment No. 2 shall remain in full force and effect.

	
5.  

	
This Amendment, and the Agreement itself along with Amendment No. 1 and Amendment No. 2, collectively, set forth the entire understanding and agreement of the parties, and supersede any and all prior contemporaneous oral or written agreements or understandings between the parties, or any prior, contradictory terms as to the subject matter of this Amendment.  This Amendment shall be governed by the laws of the State of New Mexico.

 

	
6.  

	
This Amendment may be executed by facsimile and in one (1) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment on the date set forth above:

H&M PRECISION PRODUCTS, INC.

THE SELLERS

 

/s/ Albert Rich

By: Albert Rich

Its: President

/e/ Elizabeth Rich

By:  Elizabeth Rich

Its:  Vice-President, Secretary and Treasurer

SHAREHOLDERS:

/s/ Albert Rich

Albert Rich

/s/ Elizabeth Rich

Elizabeth Rich

GEOBIO ENERGY, INC.

 

/s/ Lance Miyatovich

By: Lance Miyatovich

Its: Chief Executive Officer, Chairman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]