Document:

Unassociated Document

    SENTRA
      CONSULTING CORP.

    466
      Central Avenue

    Cedarhurst,
      NY 11516

    Telephone:
      (516) 301-3939

     

    June
      21,
      2007

    

    Karat
      Platinum LLC

    15
      Hoover
      Street

    Inwood,
      NY 11096 

    

    Re:
      Letter
      of Intent

    

    Gentlemen:

    

    This
      Letter of Intent (this “Agreement”) shall set forth our mutual agreement
      regarding a transaction (the “Transaction”) whereby Sentra Consulting Corp.
      (“Purchaser”) shall issue common stock in exchange for all the issued and
      outstanding membership interests of Karat Platinum LLC (the “Company”). This
      Agreement is intended solely as a basis for further discussion and is not
      intended to be and does not constitute a legally binding obligation except
      as
      provided below. No other legally binding obligations will be created, implied,
      or inferred until documentation in final form is executed and delivered by
      all
      parties. Without limiting the generality of the foregoing, it is the parties
      intent that, until that event, no agreement shall exist among them and there
      shall be no obligations whatsoever based on such things as parol evidence,
      extended negotiations, “handshakes,” oral understandings, or courses of conduct
      (including reliance and changes of position), except as provided
      below.

    

    1. The
      Transaction.
      Purchaser hereby offers to purchase all of the issued and outstanding membership
      interests of the Company from the current owners thereof in consideration for
      the issuance of 30,000,000 shares of common stock (the “Consideration Shares”)
      of the Purchaser and 500,000 common stock purchase warrants, each of which
      will
      provide the Company the right to purchase one share of common stock of Purchaser
      for $0.01 until ten years after the date hereof (the “Consideration Warrants,”
and together with the Consideration Shares, the “Consideration Securities”). The
      Consideration Securities shall be issued to the owners of the Company in
      proportion to their current equity ownership interest in the Company. If, after
      the date hereof but prior to the Closing (hereafter defined), Purchaser issues
      additional shares of common stock or other securities convertible into common
      stock to a third party without the written consent of Company (except for shares
      of common stock issued upon the exercise of securities convertible into common
      stock which were granted prior to the date hereof (which Purchaser represents
      only includes a warrant for 50,000 shares of common stock)), the number of
      Consideration Securities will be adjusted so that the number of Consideration
      Shares and shares of common stock issuable upon exercise of the Consideration
      Warrants will be equal to 90.7% of the outstanding shares of common stock of
      Purchaser. Upon consummation of the proposed transaction, the Company shall
      become a wholly-owned subsidiary of Purchaser.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2. Closing.
      The
      closing of
      the
      Transaction (the “Closing”) is subject to the following terms: 

    

    	(i)  	
            The
              loan by Purchaser to the Company of not less than
              $1,000,000;

          

    	(ii)  	
            Purchaser
              performing its full due diligence over the Company and being fully
              satisfied in its absolute discretion with the due diligence;
              

          

    	(iii)  	
            Company
              performing its full due diligence over the Purchaser and being fully
              satisfied in its absolute discretion with the due
              diligence;

          

    	(iv)  	
            Delivery
              to Purchaser of evidence satisfactory to Purchaser that the agreement
              with
              Allgemeine Gold-und Silberscheideanstalt AG dated January 13, 2004_is
              valid, binding and enforceable against the parties
              thereto;

          

    	(v)  	
            Consent
              from ABN Amro Bank NV, or Harrods Capital LLC, and the lenders to the
              Company to the Transaction and/or release of the collateral which is
              pledged to the foregoing persons or entities satisfactory to the
              Purchaser;

          

    	(vi)  	
            Approval
              of the Transaction by the board of directors of Purchaser and the managers
              and members of the Company;

          

    	(vii)  	
            Delivery
              of audited financial statements of the Company, in form and substance
              satisfactory to Purchaser and its independent public auditors;
              and

          

    	(viii)  	
            Execution
              and delivery of documentation appropriate for the Transaction in form
              and
              substance mutually acceptable to both parties, including containing
              customary terms, representations, conditions, covenants and indemnities
              for a transaction of this nature.

          

    

    

    Subject
      to the forgoing, it is the intent of the parties that definitive documentation
      with respect to the transactions contemplated in this Agreement shall be
      executed and delivered within 120 days from the date hereof (hereinafter
      referred to as the “Outside Closing Date”) and the parties shall use their best
      efforts to achieve same. 

    

    3.
       Due
      Diligence.
      Each of
      the Company and its representatives, on one hand, and the Purchaser and its
      representatives, on the other hand, shall enable the officers, accountants,
      counsel, bankers and other representatives of such other party access to its
      properties, books, records, personnel, business and other commercial
      relationships, and will fully cooperate in order that such other party may
      have
      full opportunity to make such investigation as it desires to make.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4.
       Exclusivity. In
      consideration of the above, the Company shall not, directly or indirectly,
      through any director, officer, member, manager, employee, agent, creditor,
      representative or otherwise (and each of said parties shall use reasonable
      efforts to insure such persons shall not directly or indirectly) (i) solicit,
      initiate or encourage the submission of inquiries, proposals or offers from
      any
      person or entity relating to (x) any business combination with respect to the
      Company or the business of the Company; or (y) the sale of any of the assets
      and/or securities of the Company (an "Alternative Transaction"), (ii) enter
      into or participate in any negotiations, or initiate any discussions or continue
      any discussions initiated by others, regarding any Alternative Transaction,
      or
      furnish to any other person or entity any information with respect to the assets
      or business of the Company or its business for the purposes of pursuing a
      possible Alternative Transaction with any other party, or (iii) otherwise
      participate in, assist, facilitate or encourage any effort or attempt by any
      other person or entity to do any of the foregoing. The Company shall promptly
      notify the Purchaser of any proposal or inquiry made to it or any of its
      directors, officers, members, managers, creditors, employees, agents,
      representatives, or otherwise with respect to any of the foregoing.

    

    The
      foregoing exclusivity shall terminate upon the earlier of the Closing, or the
      Outside Closing Date, or the date Purchaser terminates this Agreement,
provided,
      however,
      that if
      the Transaction has not been consummated prior to the Outside Closing Date
      as a
      result of the Purchaser not fulfilling its obligations provided for herein,
      including without limitation, the loan described in Section 2(i) above, the
      Company shall be released from its obligations hereunder and this Agreement
      shall be terminated and have no further force and effect, and provided,
      further
      that if
      the Transaction has not been consummated prior to the Outside Closing Date
      as a
      result of the Company not fulfilling its obligations provided for herein,
      including without limitation, those provided for in Sections 2(iv), (v) and
      (vii), the exclusivity shall continue until the earlier of the termination
      of
      this Agreement by the Purchaser or 60 days after the Outside Closing
      Date.

    

    5. Brokers.
      The
      Company represents and warrants that it shall be solely responsible for
      commissions or fees payable to any broker or finder (except for any broker
      or
      finder retained by Purchaser) as a result of this Agreement or the contemplated
      Transaction and shall indemnify
      and hold the Purchaser and its affiliates harmless from any claims that may
      arise against the Purchaser or its affiliates for such brokerage or finder’s fee
      in connection with this Agreement and/or the Contemplated Transactions.

     

    6. Expenses. Each
      party shall bear its own expenses and costs related to the Transaction,
      including, without limitation, attorneys’ fees and disbursements.

    

    7. Confidentiality. 

    

    (i)
       Each
      party hereto shall maintain the other party’s Confidential Information
      (hereafter defined) in confidence. "Confidential Information" means all
      information that a party hereto has furnished to the other party which is not
      generally available to the public, including, but not limited to, financial
      information, whether tangible or intangible and in whatever form or medium
      provided, as well as all information generated by the receiving party that
      contains, reflects, or is derived from the disclosing party’s Confidential
      Information. The restrictions herein provided shall not apply with respect
      to
      Confidential Information which (i) is or becomes a part of the public domain
      without breach of this Section 7 hereof or (ii) is disclosed pursuant to
      judicial action or government regulations, provided the receiving party notifies
      the disclosing party prior to such disclosure and cooperates with the disclosing
      party in the event the disclosing party elects to legally contest and avoid
      such
      disclosure.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
 

    (ii)
       Except
      as
      required by applicable law and in connection with the Transaction, neither
      party
      shall disclose nor permit its respective officers, representatives, agents
      or
      employees to discuss the existence or terms of this Agreement to any third
      party
      without the prior written consent of Purchaser. 

    

    8. Board
      of Directors.
      The
      consummation of the Transaction will result in a change of control of Purchaser.
      The parties agree that upon the Closing, each of the Company and Purchaser shall
      appoint two members to the Board of Directors of Purchaser and said members
      shall mutually appoint a fifth member to the Board.

    

    9.
      Binding
      Effect; Termination.
      The
      parties agree to negotiate in good faith the terms and conditions of the
      definitive agreements with respect to the Transaction until this Agreement
      is
      terminated in accordance with the terms hereof. The parties will use their
      best
      efforts to effectuate the closing of the Transaction on or before the Outside
      Closing Date; provided,
      however,
      that
      this Agreement will terminate upon written notice by Purchaser to the Company
      at
      any time prior thereto. Except with respect to paragraphs 6 through 11,
      inclusive, the parties shall no longer have any rights or obligations with
      respect to this Agreement after the termination hereof.

    

    10. Governing
      Law. This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York applicable to agreements made and to be performed therein
      without giving effect to conflict of law principles. 

    

    11. Binding
      Effect.
       This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and assigns. No assignment of this Agreement
      or
      any right or obligation hereunder made be made by the parties and any such
      attempted assignment shall be void.

    

    12. Counterparts.  This
      Agreement may be executed in counterparts and by facsimile, each of which shall
      be deemed an original, but all of which together shall constitute one and the
      same instrument. 

    

    If
      the
      foregoing accurately sets forth our agreement, please execute where indicated
      below and return a fully executed copy of this Agreement to our attention,
      whereupon this Agreement shall become a valid and binding agreement between
      us
      in accordance with the terms hereof.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    SENTRA
      CONSULTING CORP.

     

    

    By:
      /s/
      Philip
      Septimus                       

    Name: Philip
      Septimus

    Title: President

    

    

    

    AGREED
      AND ACCEPTED:

    

    [principal
      members and managers of the Company:]

    

    

    By:
      /s/
      David
      Neuberg                      

    Name: David
      Neuberg

    Title: Member

    

    

    _____________________

    

    
      
         

      

      
        5Unassociated Document

    CERTIFICATE
      OF AMENDMENT

    

    OF

    

    CERTIFICATE
      OF DESIGNATIONS

    

    OF
      PREFERENCES, RIGHTS AND LIMITATIONS

    

    OF

    

    SERIES
      B CONVERTIBLE PREFERRED STOCK

     

    OF

    

    CONVERSION
      SERVICES INTERNATIONAL, INC.,

    

    a
      Delaware Corporation

    

     

     

    Conversion
      Services International, Inc. (the "Corporation"), a corporation duly organized
      and existing under the General Corporation Law of the State of Delaware (the
      "DGCL"), does hereby certify that:

     

     

    1.
       The
      Corporation filed a Certificate of Designations of Preferences, Rights and
      Limitations of Series B Convertible Preferred Stock of the Corporation on August
      11, 2006 (the "Certificate of Designations") setting forth the rights of a
      series of preferred stock designated as Series B Convertible Preferred
      Stock.

     

     

    2.
       The
      Amendment to the Certificate of Designations set forth below was duly adopted
      in
      accordance with the provisions of the DGCL.

     

     

    3.
       The
      Certificate of Designations is hereby amended as follows:

     

    	a.  	
            Section
              4 of the Certificate of Designations is deleted in its entirety and
              replaced with the following:

          

    

    “Liquidation.
      In
      the
      event of any voluntary liquidation, dissolution or winding up of the affairs
      of
      the Company approved by a majority of the Company’s Board of Directors as it
      exists prior to such transaction, and as such the transaction must be within
      the
      Company’s control, the Holders shall be entitled to receive an amount equal to
      the Stated Value per share of the Preferred Stock, plus any declared but unpaid
      dividends payable on the Preferred Stock, before
      any distribution or payment shall be made to the holders of any Junior
      Securities, and if the assets of the Company shall be insufficient to pay in
      full such amounts, then the entire assets to be distributed to the Holders
      shall
      be distributed among the Holders ratably in accordance with the respective
      amounts that would be payable on such shares if all amounts payable thereon
      were
      paid in full. 
      In the event that the Company effects a sale of substantially all of its assets
      or the acquisition of the Company by another entity by way or merger or
      consolidation that has been approved by a majority of the Company’s Board of
      Directors as it exists prior to such transaction, acting in good faith, and
      as
      such the transaction must be within the Company’s control, such action shall be
      deemed a voluntary liquidation for purposes of this Section.  In no event
      shall any of the following be deemed a voluntary liquidation, dissolution or
      winding up of the affairs of the Company: any hostile takeover, any sale of
      all
      or substantially all of the Company’s assets, any merger or consolidation, or
      any other change in control that is not approved by a majority of the Company’s
      Board of Directors as it exists prior to such transaction, acting in good faith,
      and as such the transaction must be within the Company’s control.”

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    	b.  	
            Section
              5(e)(v) of the Certificate of Designations is deleted in its entirety
              and
              replaced with the following:

          

    

    “In
      case
      of any reclassification of the Common Stock, or any compulsory share exchange
      pursuant to which the Common Stock is converted into other securities, cash
      or
      property (other than compulsory share exchanges which constitute Change of
      Control Transactions), the Holders of the Preferred Stock then outstanding
      shall
      have the right thereafter to convert such shares only into the shares of stock
      and other securities, cash and property receivable upon or deemed to be held
      by
      holders of Common Stock following such reclassification or share exchange,
      and
      the Holders of the Preferred Stock shall be entitled upon such event to receive
      such amount of securities, cash or property as a holder of the number of shares
      of Common Stock of the Company into which such shares of Preferred Stock could
      have been converted immediately prior to such reclassification or share exchange
      would have been entitled. This provision shall similarly apply to successive
      reclassifications or share exchanges. The transactions contemplated by this
      subparagraph (v) must be approved by the majority of the Company’s Board of
      Directors as it exists prior to the effect of the transaction before the
      transaction can occur, and as such the transaction must be in the Company’s
      control.”

    

    	c.  	
            Section
              5(e)(vi) of the Certificate of Designations is deleted in its entirety
              and
              replaced with the following:

          

    

    “In
      case
      of any merger or consolidation of the Company with or into another Person,
      or
      sale by the Company of more than one-half of the assets of the Company (on
      an as
      valued basis) in one or a series of related transactions, a Holder shall have
      the right thereafter to (A) convert its shares of Preferred Stock into the
      shares of stock and other securities, cash and property receivable upon or
      deemed to be held by holders of Common Stock following such merger,
      consolidation or sale, and such Holder shall be entitled upon such event or
      series of related events to receive such amount of securities, cash and property
      as the shares of Common Stock into which such shares of Preferred Stock could
      have been converted immediately prior to such merger, consolidation or sales
      would have been entitled or (B) in the case of a merger or consolidation, (x)
      require the surviving entity to issue shares of convertible preferred stock
      or
      convertible debentures with such aggregate stated value or in such face amount,
      as the case may be, equal to the Stated Value of the shares of Preferred Stock
      then held by such Holder, plus all accrued and unpaid dividends and other
      amounts owing thereon, which newly issued shares of preferred stock or
      debentures shall have terms identical (including with respect to conversion)
      to
      the terms of the Preferred Stock (except, in the case of debentures, as may
      be
      required to reflect the differences between debt and equity) and shall be
      entitled to all of the rights and privileges of a Holder of Preferred Stock
      set
      forth herein and the agreements pursuant to which the Preferred Stock was issued
      (including, without limitation, as such rights relate to the acquisition,
      transferability, registration and listing of such shares of stock other
      securities issuable upon conversion thereof), and (y) simultaneously with the
      issuance of such convertible preferred stock or convertible debentures, shall
      have the right to convert such instrument only into shares of stock and other
      securities, cash and property receivable upon or deemed to be held by holders
      of
      Common Stock following such merger, consolidation or sale. In the case of clause
      (B), the conversion price applicable for the newly issued shares of convertible
      preferred stock or convertible debentures shall be based upon the amount of
      securities, cash and property that each share of Common Stock would receive
      in
      such transaction, the Conversion Ratio immediately prior to the effectiveness
      or
      closing date for such transaction and the Applicable Conversion Price stated
      herein. The terms of any such merger, sale or consolidation shall include such
      terms so as continue to give the Holders the right to receive the securities,
      cash and property set forth in this Section upon any conversion or redemption
      following such event. This provision shall similarly apply to successive such
      events. The transactions contemplated by this subparagraph (v) must be approved
      by the majority of the Company’s Board of Directors as it exists prior to the
      effect of the transaction before the transaction can occur, and as such the
      transaction must be in the Company’s control.”

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the undersigned has executed this Certificate of Amendment
      this
      28th
      day of
      June, 2007.

    

    
      	 	 	/s/
              Scott Newman 
	 	 	Scott Newman
	 	 	
              President
                and Chief Executive Officer

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