Document:

EXHIBIT 10.2

EXHIBIT 10.2

CONFIDENTIAL

June 30, 2004

Page 1

Definitive Purchase Agreement

I.

Acquiring Entity

Sitestar Corporation (the “Buyer” “Sitestar”) incorporated in the State of Nevada, and/or an affiliate, will purchase the assets of (the “Purchase” or the “Transaction”) Network Management, Inc. (“Seller,” or the “Company”) incorporated in North Carolina (collectively the “Company”); its assets currently owned by Larry Aaron Thompson, Jr., Michele Rene Haynes, Magdalena Bottomley, Joseph Kyle and Marc Pumerantz (the “Owners”). 

II.

Structure and Consideration

Buyer will acquire 100% of the Company’s dial-up Internet-related assets, including but not limited to: all customers, software, hard assets and intellectual property (trademarks, brands, trade names, customer lists, Web content, etc).  Buyer will not acquire any automobiles the company may have listed as assets.

III.

Company Representations and Warranties

a.

The Company provides multiple services to a residential and corporate customer base. Service offerings including dial up Internet access, web hosting, retail sales of products and services, information technology consulting and network installations.  

b.

The Company will generate at least $51,284.26 in sales from Mt. Airy Networks operations for the FY 2004 calendar year.

c.

The Company has approximately 220 Internet access subscribers with an attrition rate of not greater than 20% per year.  

d.

The Company’s hard assets (excluding the company vehicle) have a current fair market value of not less than $10,000.00 and are free and clear of any leans or encumbrances. 

e.

The Company is in good standing with its creditors, employees and suppliers and is not currently party to any pending legal action.

CONFIDENTIAL

June 30, 2004

Page 2

IV.

Purchase Consideration

Purchase consideration is based on the Company’s aggregate revenue, as adjusted for deferred revenue, number of subscribers, asset base and general financial performance reflecting the representations of the Company. Should the actual value differ from the values represented by the Company, the Purchase Price will be adjusted accordingly. Assets of the Company include all balance sheet items and other assets and intellectual property utilized in the operation of the business. A definitive list of assets shall be compiled and agreed upon by Buyer and Seller. All additional terms and conditions of the purchase consideration will be addressed in the definitive agreement.         

a.

Buyer will not assume any of the Seller’s ongoing financial responsibilities. 

b.

If any liens or encumbrances are found to be attached to the assets of the purchased assets, the value shall be deducted from the Purchase Consideration.

V.

Payment Structure

This Transaction will include the following components: 

a.

Seller shall receive $30,000 less an adjustment for deferred revenue (portion of prepaid sales) over a period of thirty (30) months in equal monthly installments due on the 10th of the month.

b.

For value received, Seller will enter into a three-year Non-Compete Agreement.  

c.

Any payments during the term of the agreement that are accepted by Seller on behalf of Sitestar may be deducted from total amount due and deducted from the monthly payments.

d.

Each party agrees to refer prospective customers to one another whenever possible.

VI.

Covenants

a.

Each party shall be responsible for their own legal and transactional expenses.

b.

Any debts incurred by the Company that are attached to assets must be disclosed and a portion of payments may be made directly to satisfy the outstanding debt.

CONFIDENTIAL

June 30, 2004

Page 3

VII.

Employment/Non-Compete Contracts

a.

Included in the Purchase Price, Mr. Larry A. Thompson shall provide his services for a reasonable transition period, up to a maximum of thirty (30) days.  From that point forward, up to one year, Owners agree to be available to Sitestar management by telephone only on an as-needed basis.  Mr. Thompson may bill Sitestar an hourly rate of $45.00 for services performed after the 30 days as approved by Sitestar.  

b.

Owners will be encouraged to continue to sign up new customers for Internet services based on Buyers rates and policies as an affiliate.

c.

Sitestar will require Owners to enter into a Non-Compete Contract pertaining to internet access services within the states of Virginia and North Carolina and bordering states for a period of thirty six (36) months: The terms and conditions of this agreement will be addressed during the due diligence period.

VIII.

Conduct of Business

From the date of your acceptance hereof, through the closing date, the Seller shall conduct its business only in the ordinary course and consistent with relationships and goodwill existing on the date hereof and promptly notify Buyer of any emergency or other change in the ordinary course of the Seller’s business.

IX.

Confidentiality

All matters related to this Transaction will be held in strict confidence by both Parties, excluding any disclosure requirements incurred by the Buyer.

X.

Intermediaries

a.

Buyer and the Company agree that no intermediaries have represented either party in the proposed Transaction.  

XI

Emails

a.

Marc Pumerantz will be allowed to keep any existing email accounts presently used for at least 12 months.

CONFIDENTIAL

                                                                                               June 30, 2004

Page 4

AGREED AND ACCEPTED:

Virginia Link Internet and Network Management, Inc.

Sitestar 

By:  Larry Thompson, Jr.

/s/ Larry Thompson, Jr.

/s/ Frank R. Erhartic

President

Chairman & CEO

        

Virginia Link Internet and Network Management, Inc.

 

By:  Michele Rene Haynes

/s/ Michele Rene Haynes

Shareholder

Virginia Link Internet and Network Management, Inc.

 

By:  Magdalena Bottomley

/s/ Magdalena Bottomley

Shareholder

Virginia Link Internet and Network Management, Inc.

 

By:  Joseph Kyle

/s/ Joseph Kyle

Shareholder

Mount Airy Networks, LLC

By: Marc Pumerantz

_____________________

ShareholderEX-10.1

AGREEMENT

BY AND BETWEEN THE PARTIES: Golden Spirit Minerals Ld., a Delaware Corporation
with offices at Suite 806 - 1288 Alberni St. , Vancouver, British Columbia,
Canada, V6E 4N5, being represented by Robert Klein, President, hereinafter
"GSPM".

AND

Walter Doyle, who has an office located at Suite 23 Pugh Street St., Townsville,
Australia, 4814.

RECITALS:

Golden Spirit Minerals Ltd. is a Public Company, which is fully trading on the
Nasdaq OTC Bulletin Board in the United States of America Public Markets (Symbol
: GSPM) and is desirous of acquiring an asset to work with and increase in value
for the benefit of its shareholders. Walter Doyle is the owner of a mineral
asset in the form of certain Queensland, Australia Mining Claims (claims) known
Blue Doe and June Ellen claims consisting of 19 sub blocks covering an area of
19 square miles registered within the EPM 14454 M,  located in the Northern Part
of the Ravenswood Batholith in Queensland, Australia

Walter Doyle will transfer a ninety-percent (95%) ownership in the claims,
retaining a non-assessable, carried ten-percent (5%), and GSPM agrees to acquire
and take full responsibility for the claims for the purpose of increasing the
claims value.

UNDER THE TERMS AND CONDITIONS AS FOLLOWS:

(1)     GSPM, upon signing this agreement, will pay the sum of $1,000.00 USD to
Walter Doyle and will issue 5,000,000 GSPM shares to Walter Doyle and/or his
nominees; which stock will be classified as being under rule 144 of the
Securities and Exchange Commission for a period of one year, with trading
restrictions under rule 144 for another year.

(2)     GSPM will, in addition to the treasury stock being transferred to Walter
Doyle and/or his nominees upon signing this agreement, agree to a further
payment of 5,000,000 restricted GSPM shares to Walter Doyle and/or his nominees,
three months from the date of this agreement.

(3)     GSPM will subsequently agree to further payments of 10,000,000
restricted GSPM shares to Walter Doyle and/or his nominees, six months from the
date of this agreement.

(4)     GSPM agrees to a work commitment of $200,000 USD over a period of two
(2) years, based on a work program mutually agreed upon.

(5)     The five-percent (5%) retained interest of Walter Doyle in the claims is
non-assessable, meaning that GSPM cannot make a funds call to Walter Doyle and
/or his nominees for any reason whatsoever and cannot for any reason reduce the
five-percent (5%) retained interest.  In the event of GSPM selling their
interest in the claims, Walter Doyle would continue to have a five-percent (5%)
non-assessable interest ownership under the same terms and conditions of this
agreement, unless Walter Doyle agrees to sell his interest to the purchaser of
GSPM's interest.  In any event GSPM has a first right of refusal to purchase the
retained interest of Walter Doyle , should Walter Doyle decide to sell his
interest.  In addition, and in the event that GSPM for any reason decides to
sell their interest in the claims within thirteen (13) months from the date of
signing this agreement, it will be entirely GSPM's decision.

(6)     Walter Doyle will prepare and submit all required paperwork for
maintaining EPM 14454 in good standing and any other paperwork that may be
required by the Local, State or Federal governments. GSPM will pay the actual
fees as required by a check made out to the proper government office to be
submitted with the paperwork prepared by Walter Doyle.  Annual fees become due
on the anniversary date of the date of grant and the necessary amounts will be
provided to GSPM by Walter Doyle

(7)     In the event that GSPM does not pay the annual rental on the exploration
permit Walter Doyle reserves the right to pay the annual rental.

(8)     GSPM agrees to conduct itself concerning the claims in a manner so as to
not cause the claims to suffer any undue legal or other undesirable problems.

(10)GSPM agrees to expand the EPM and to make any new claims a part of this
agreement, as might be necessary, to protect the rights of Walter Doyle and
the  GSPM shareholders.

(11)The parties both GSPM and Walter Doyle agree that time is of the essence in
       all particulars of this agreement.

(12)The parties both GSPM and Walter Doyle agree that this agreement can be
       expanded by mutual consent upon the terms and conditions herein.

(13)The parties agree that this agreement constitutes the entirety of the
       agreement between the parties and any other agreements either verbal or
       written are of no consequence concerning this agreement other than some
       particular consultants / finders fees which apply and are understood by
       the principal parties.

Signed and Agreed to this 9th  day of June 2004 by the parties,

/S/ Robert Klein                        /S/ Walter Doyle
------------------                      ----------------
Golden Spirit Minerals Ltd.                Walter Doyle

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