Document:

Exhibit
      10.4

    

     

    ACQUISITION
      AGREEMENT

     

    THIS
      ACQUISITION AGREEMENT is
      made
      as of June 16, 2006 (this “Agreement”),
      by
      and among HRDQ GROUP, INC., a Delaware corporation (the “Company”),
      TELECOM COMMUNICATIONS, INC., a Delaware corporation (“Telecom”),
      ALPHA
      CENTURY HOLDINGS, LTD, a BVI corporation (“Alpha”),
      and
      CHINA DONGGUAN NETWORKS, INC, a BVI corporation (“CDN,”
and
      together with Alpha, the “Owners”).
      

     

    RECITALS
      

     

    WHEREAS,
      as of
      the date hereof, Telecom is the sole shareholder of and owns 100% of the
      outstanding shares interests in Alpha;

     

    WHEREAS,
      as of
      the date hereof, Alpha and CDN hold an interest in certain assets used in the
      operation of the business known as subaye.com and the associated website located
      at www.subaye.com (collectively, the “Business”);
      

     

    WHEREAS,
      the
      Owners desire to contribute all of their respective right, title and interest
      in
      and to the Acquired Assets (as defined below) to the Company upon the terms
      and
      conditions set forth herein; 

     

    WHEREAS,
      the
      Company desires to accept from the Owners all of the Owners’ right, title and
      interest in and to the Acquired Assets on the terms and conditions set forth
      herein and, in consideration therefor, (i) (a) to issue shares of common stock
      of the Company (the “Common
      Stock”),
      (b)
      pay cash to each Owner and (c) to issue a promissory note in the form of
Exhibit
      A
      hereto
      to Alpha (which shall be immediately assigned by Alpha to Telecom) (the
“Promissory
      Note”)
      and
      (ii) to assume the Assumed Liabilities (as defined below), each asset set forth
      herein; and 

     

    WHEREAS,
      the
      transactions contemplated by this Agreement and the transactions contemplated
      by
      that certain Series A Preferred and Common Stock Purchase Agreement, dated
      of
      even date herewith, by and between the Company and the Purchasers (as defined
      therein) are intended to constitute a single transaction for purposes of Section
      351 of the Internal Revenue Code of 1986, as amended. 

     

    ACQUISITION
      AGREEMENT

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and promises contained herein and for
      other good and valuable consideration the receipt and adequacy of which are
      hereby acknowledged, the parties hereto, intending to be legally bound, hereby
      agree as follows: 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    AGREEMENT
      

     

    Section
      1 
      Acquisition and Assumption.

     

    (a)  On
      and as
      of the date hereof, each Owner hereby sells, assigns, transfers, conveys and
      delivers to the Company all of its right, title, and interest in, to and under
      the assets of the Business identified on Exhibit B attached hereto (the
“Acquired Assets”). On and as of the date hereof, the Company hereby accepts the
      foregoing assignment of each Acquired Asset.

     

    (b)  Notwithstanding
      anything to the contrary contained herein (including on Exhibit B), the Acquired
      Assets shall not include, and the Owners shall not sell any of their rights,
      title or interest in and to any asset identified on Exhibit
      C
      attached
      hereto or any other asset that is not used primarily in the Business (the
“Excluded
      Assets”).

     

    (c)  Upon
      the
      terms and subject to the conditions of this Agreement, the Company hereby
      assumes, effective as of the date hereof, and agrees to pay, perform and
      discharge when due, and indemnify, defend and hold harmless from and after
      the
      Closing Date (as defined below), Telecom, Alpha, CDN and each of their
      respective affiliates, and each of their respective officers, directors and
      employees, from and against any and all obligations and liabilities, whether
      known or unknown, arising out of, relating to or otherwise in respect of the
      Acquired Assets, the Business or the operation or conduct of the Business before
      the date hereof (collectively, the “Assumed
      Liabilities”),
      including without limitation the liabilities listed on Exhibit
      D
      attached
      hereto, but excluding the liabilities listed on Exhibit
      E
      attached
      hereto (the “Retained
      Liabilities”).

     

    (d)  (i)
      Notwithstanding anything in this Agreement to the contrary, this Agreement
      shall
      not constitute an agreement to assign any asset or any claim or right or any
      benefit arising under or resulting from such asset if an attempted assignment
      thereof, without the consent of a third party, would constitute a breach,
      default, violation or other contravention of the rights of such third party,
      would be ineffective with respect to any party to an agreement concerning such
      asset, claim or right, or would in any way adversely affect the rights of either
      Owner or, upon transfer, the Company under such asset, claim or right. If any
      transfer or assignment by the Owners to the Company, or any assumption by the
      Company of, any interest in, or liability, obligation or commitment under,
      any
      asset, claim or right requires the consent of a third party, then such transfer
      or assignment or assumption shall be made subject to such consent being
      obtained. The Company agrees that neither Owner nor any of such Owner’s
      affiliates shall have any liability to the Company arising out of or relating
      to
      the failure to obtain any such consent or because of any circumstances resulting
      therefrom.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (i)  If
      any
      such consent has not been obtained prior to the consummation of this Agreement,
      the parties shall use commercially reasonable efforts to secure such consent
      as
      promptly as practicable and Owners shall cooperate with the Company (at the
      Company’s expense) to structure a lawful and commercially reasonable arrangement
      under which (i) the Company shall obtain (without infringing upon the legal
      rights of such third party or violating any applicable law) the economic claims,
      rights and benefits (net of the amount of any related tax costs imposed on
      either Owner or any of their respective affiliates) under the asset, claim
      or
      right with respect to which the consent has not been obtained and (ii) the
      Company shall assume any related economic burden (including the amount of any
      related tax costs imposed on either Owner or any of their respective affiliates)
      with respect to the asset, claim or right with respect to which the consent
      has
      not been obtained.

     

    (e)  The
      Company hereby acknowledges and agrees that Owner makes no representations
      or
      warranties whatsoever, express or implied, with respect to any matter relating
      to this Agreement, the Acquired Assets or the Assumed Liabilities, except that
      each Owner, severally and not jointly, hereby represents and warrants that
      (i)
      such Owner has all necessary power and authority to execute and deliver this
      Agreement and to carry out its provisions; (ii) all action on Owner’s part
      required for the lawful execution and delivery of this Agreement has been taken;
      and (iii) upon such Owner’s execution and delivery, this Agreement will be a
      valid and binding obligation of such Owner, enforceable in accordance with
      its
      terms, except (x) as limited by applicable bankruptcy, insolvency,
      reorganization, moratorium or other laws of general application affecting
      enforcement of creditors’ rights, and (y) as limited by general principles of
      equity that restrict the availability of equitable remedies.

     

    (f)  Subject
      to Section (6) hereof, without limiting the foregoing, each Owner hereby
      disclaims any warranty (express or implied) of merchantability or fitness for
      any particular purpose as to any portion of the Acquired Assets. Accordingly,
      subject to Section (6) hereof, the Company accepts the Acquired Assets and
      the
      Assumed Liabilities “AS IS,” “WHERE IS,” and “WITH ALL FAULTS.”

     

    Section
      2  Consideration

     

    (a)  In
      consideration of the assignment to the Company by the Owners of the Acquired
      Assets hereunder, on the date hereof, in addition to the Company’s assumption of
      the Assumed Liabilities, the Company shall (i) issue the Promissory Note to
      Alpha (which shall be immediately assigned to Telecom and restated to reflect
      that Telecom shall be the
      Payee
      thereunder), pay $1,950,800 in cash by wire transfer of immediately available
      funds to CDN, (ii) issue 798,747 shares of Common Stock of the Company to CDN
      and (iii) issue 2,024,192 shares of Common Stock of the Company to Alpha (which
      shares shall be distributed immediately to Telecom).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (b)  In
      the
      event the amount of the Telecom Advance (as defined below) exceeds $1.5 million
      (the amount of such excess, the “Excess
      Telecom Advance”),
      then
      the principal amount of the Promissory Note shall be increased by the amount
      of
      the Excess Telecom Advance (and the Company shall deliver to Telecom an amended
      and restated Promissory Note reflecting such increased principal amount in
      exchange for cancellation of the original Promissory Note). In the event the
      amount of the Telecom Advance is less than $1.5 million (the amount by which
      the
      Telecom Advance is less than $1.5 million, the “Telecom
      Advance Shortfall”),
      then
      the principal amount of the Promissory Note shall be reduced by the amount
      of
      the Telecom Advance Shortfall (and the Company shall deliver to Telecom an
      amended and restated Promissory Note reflecting such decreased principal amount
      in exchange for cancellation of the original Promissory Note). The completion
      of
      the adjustment contemplated by this Section 2(b) shall in no way affect the
      enforceability of or Telecom’s rights under the Promissory Note unless and until
      the Promissory Note is exchanged for a duly executed amended and restated
      Promissory Note in accordance with this Section 2(b). As used in this Section
      2(b), “Telecom
      Advance”
means
      the sum of (i) the value of the tangible assets and software licenses purchased
      by Telecom (or by Alpha with funds advanced by Telecom) for the Business prior
      to October 1, 2004 plus (ii) the amount of funds expended by Telecom to purchase
      tangible assets and software licenses for the Business (or advanced by Telecom
      to Alpha to purchase tangible assets or software licenses for the Business)
      on
      or after October 1, 2004. 

     

    (c)  Within
      twenty (20) business days of the date hereof, Telecom shall deliver to the
      Company Telecom’s calculation of the Telecom Advance. In the event the Company
      objects in good faith to Telecom’s calculation of the Telecom Advance, then the
      Company shall notify Telecom of such objection in writing with 10 (ten) business
      days of receipt of such calculation and set forth the basis for such objection
      in reasonable detail (the “Objection
      Notice”).
      If
      the Company does not notify Telecom in writing of an objection within such
      10
      (ten) business day period, then Telecom’s calculation of the Telecom Advance
      shall be binding upon the parties hereto. If the Company does notify Telecom
      in
      writing of such objection in accordance with this Section 2(c), then the parties
      hereto shall use good faith efforts to resolve the dispute in respect of the
      calculation of the Telecom Advance. In the event the parties hereto are unable
      to resolve such dispute within ten business days of Telecom’s receipt of the
      Objection Notice, then the respective Chief Executive Officers of Telecom and
      the Company shall attempt in good faith to resolve such dispute, and if the
      dispute is not resolved within twenty (20) business days of Telecom’s receipt of
      the Objection Notice, then the parties hereto shall refer the dispute to an
      independent accounting firm (which shall not be the independent accounting
      firm
      of either of Telecom or the Company) designated by Telecom and reasonably
      acceptable to the Company, and the determination of such accounting firm shall
      be binding on the parties hereto. The costs of such independent accounting
      firm
      shall be borne by the party that is not the prevailing party (the prevailing
      party shall be the party whose calculation of the Telecom Advance is closest
      in
      amount to the calculation of the Telecom Advance that is ultimately determined
      by such accounting firm).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    Section
      3  Termination
      of Rights Agreement 

     

    CDN
      and
      Telecom hereby agree that, as of the date hereof, the Rights Agreement, dated
      as
      of November 11, 2005 (the “Rights
      Agreement”),
      by
      and between CDN and Alpha, shall be terminated and of no further force or
      effect, and CDN and Alpha agree that neither party shall have any further
      obligations or liabilities to the other arising out of, resulting from or in
      connection with the Rights Agreement or the Asset Acquisition Agreement, dated
      as of November 11, 2005, by and between CDN and Alpha. 

     

    Section
      4  The
      Closing

     

    (a)  The
      consummation of the acquisition of the Acquired Assets and assumption of the
      Assumed Liabilities shall be held at the offices of Kirkpatrick
      & Lockhart Nicholson Graham LLP 599 Lexington Avenue, New York, New York
      10022,
      on the
      date hereof, or such other date after the date hereof as the Company and the
      Owners may mutually agree in writing (the “Closing
      Date”).

     

    (b)  On
      the
      Closing Date, the Owners shall deliver (duly and fully executed, acknowledged
      and notarized as appropriate) to the Company the following:

     

    (i)  a
      duly
      executed counterpart to the bill of sale for all of the Acquired Assets that
      constitute tangible personal property in the form attached hereto as
Exhibit
      F (the
      “Bill
      of Sale”);

     

    (ii)  a
      duly
      executed counterpart to the assignment of contracts rights in the form attached
      hereto as Exhibit
      G
      (the
“Assignment
      of Contract Rights”);

     

    (iii)  a
      duly
      executed counterpart to the assignment of intellectual property in the form
      attached hereto as Exhibit
      H
      (the
“Assignment
      of IP”);
      and

     

    (iv)  such
      other bills of sale, assignments, certificates of title, documents and other
      instruments of transfer, conveyance and/or assumption as may be reasonably
      necessary to transfer to the Company the Owners’ right, title and interest in
      and to the Acquired Assets and for the Company to assume the Assumed
      Liabilities.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (c)  On
      the
      Closing Date, the Company shall deliver (duly and fully executed, acknowledged
      and notarized as appropriate) the following:

     

    (i)  cash
      in
      the amount set forth in Section
      2
      above to
      each Owner;

     

    (ii)  stock
      certificates to each Owner representing the number of shares to be issued to
      such Owner pursuant to Section
      2
      above;

     

    (iii)  a
      duly
      executed counterpart to each of the Assignment of Contract Rights, the Bill
      of
      Sale and the Assignment of IP to each Owner;

     

    (iv)  a
      duly
      executed counterpart to the assumption of liabilities in the form attached
      hereto as Exhibit
      I
      (the
“Assumption
      of Liabilities”);

     

    (v)  the
      Promissory Note to Telecom; and

     

    (vi)  such
      other bills of sale, assignments, certificates of title, documents and other
      instruments of transfer, conveyance and/or assumption as may be reasonably
      necessary to transfer to the Company the Owners’ right, title and interest in
      and to the Acquired Assets and for the Company to assume the Assumed
      Liabilities.

     

    Section
      5  Miscellaneous.

     

    (a)  Amendments;
      No Waivers.
      This
      Agreement may be amended or modified only by a written instrument executed
      by
      all parties hereto. No failure or delay by any party in exercising any right,
      power or privilege under this Agreement shall operate as a waiver thereof nor
      shall any single or partial waiver or exercise thereof preclude the enforcement
      of any other right, power or privilege.

     

    (b)  Governing
      Law.
      This
      Agreement shall be governed by and construed under the laws of the
      State
      of New
      York without giving
      effect
      to the choice of law provisions thereof.

     

    (c)  Notices.
      All
      notices required or permitted hereunder shall be in writing and shall be deemed
      effectively delivered upon personal delivery to the party to be notified, or
      upon the passage of five (5) calendar days after deposit in the United States
      mail, by registered or certified mail, postage prepaid, or the passage of two
      (2) days if sent by the next day delivery service of a nationally-recognized
      reputable courier, each properly addressed to the party to be notified, as
      set
      forth on the signature page hereto or at such other address as such party may
      designate by ten (10) calendar days’ advance written notice to the other parties
      hereto, or, if sent by facsimile, upon completion of such facsimile
      transmission, as conclusively evidenced by the transmission receipt thereof.
      

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (d)  Headings.
      The
      section headings contained in this Agreement are inserted for convenience only
      and shall not affect in any way the meaning or interpretation of this
      Agreement.

     

    (e)  Counterparts.
      This
      Agreement may be executed in two or more counterparts and signature pages may
      be
      delivered by facsimile, each of which shall be deemed an original, but all
      of
      which together shall constitute one and the same instrument.

     

    (f)  Successor
      and Assigns.
      This
      Agreement shall be binding upon, shall inure to the benefit of, and shall be
      enforceable by the parties and their respective legal representatives,
      successors and permitted assigns.

     

    (g)  Further
      Assurances.
      Each of
      the parties hereto does hereby covenant and agree on behalf of itself, its
      legal
      representatives, successors and permitted assigns, without further
      consideration, to prepare, execute, acknowledge, file, record, publish, and
      deliver such other instruments, documents and statements, and to take such
      other
      action as may be required by law or reasonably necessary to carry out the
      purposes of this Agreement.

     

    (h)  Severability.
      In the
      event one or more of the provisions of this Agreement should, for any reason,
      be
      held to be invalid, illegal, or unenforceable in any respect, such invalidity,
      illegality, or unenforceability shall not affect any other provisions of this
      Agreement, and this Agreement shall be construed as if such invalid, illegal,
      or
      unenforceable provision had never been contained herein.

     

    (i)  Entire
      Agreement.
      This
      Agreement, together with the exhibits and the other agreements, instruments
      and
      other documents executed and/or delivered in connection herewith, constitute
      the
      entire agreement among the parties pertaining to the subject matter hereof,
      and
      supersede all prior oral and written, and all contemporaneous oral, agreements
      and understanding pertaining hereto. There are no agreements, understandings,
      restrictions, warranties or representations relating to such subject matter
      among the parties hereto other than those set forth herein.

     

    (j)  Specific
      Performance.
      Without
      limiting the rights of each party hereto to pursue all other legal and equitable
      rights available to such party for any other party’s failure to perform its
      obligations under this Agreement, each such party acknowledges and agrees that
      the remedy at law for any failure to perform obligations hereunder would be
      inadequate and all such parties shall be entitled to specific performance,
      injunctive relief, or other equitable remedies in the event of any such failure.
      The availability of these remedies shall not prohibit the parties from pursuing
      any other remedies for such breach, including the recovery of monetary
      damages

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (Signature
      Page Follows) 

    

     

    IN
      WITNESS WHEREOF,
      the
      undersigned have caused this Acquisition Agreement to be executed by their
      respective officers or representatives thereunto duly 

     

    
      	 	 	 
	
              HRDQ
                GROUP, INC.

            
	 	 
	
              By:

            	
               

            	
              /s/Limei
                Deng 

            
	
              Name:

            	
               

            	
              
                
Limei
                Deng

            
	
              Title:

            	
               

            	
              President

            

    

     

    ADDRESS
      FOR NOTICE: 

    2/F
      Huiridianqi Shayu Road,

    Panyu,
      Guangzhou, GD511490 China 

    Attn:
      Limei Deng 

     

    
      	 	 	 
	
              TELECOM
                COMMUNICSTIONS, INC.

            
	 	 
	
              By:

            	
               

            	
              /s/
                Tim Chen

            
	
              Name:

            	
               

            	
              
                
Tim
                Chen 

            
	
              Title:

            	
               

            	
              Chief
                Executive Officer

            

    

     

    ADDRESS
      FOR NOTICE:  

    9/F.,
      Beijing Business World 

    56
      Dongxinglong Avenue 

    CW
      District, Beijing, China 100062 

    Attn:
      Victor Li, General Counsel 

     

    
      	
              ALPHA
                CENTURY HOLDINGS LTD

            
	 	 
	 	 
	
              By:

            	
               

            	
              Telecom
                Communications, Inc.

            
	 	 	 
	
               

            	
               

            	
              By:

            	
               

            	
              /s/
                Tim Chen

            
	
               

            	
               

            	
              Name:

            	
               

            	
              
                
Tim
                Chen

            
	
               

            	
               

            	
              Title:

            	
               

            	
              Chief
                Executive Officer

            

    

     

    ADDRESS
      FOR NOTICE: 

    9/F.,
      Beijing Business World 

    56
      Dongxinglong Avenue 

    CW
      District, Beijing, China 100062 

    Attn:
      Victor Li, General Counsel  

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	
              CHINA
                DONGGUAN NETWORKS, INC

            
	 	 
	
              By:

            	
               

            	
              /s/
                Limei Deng

            
	
              Name:

            	
               

            	
              
                
Limei
                Deng

            
	
              Title:

            	 	
              President

            

    

     

    ADDRESS
      FOR NOTICE: 

    2/F
      Huiridianqi Shayu Road,

    Panyu,
      Guangzhou, GD511490 China 

    Attn:
      Limei Deng 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A 

     

    FORM
      OF PROMISSORY NOTE 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      B 

     

    ACQUIRED
      ASSETS 

     

    A.
      Domain Name.
      The
“www.subaye.com” and “seo4mobile.net” Internet domain names, including all
      registrations thereof, including, without limitation, the Network Solutions,
      Inc., or any other applicable registrars, registrations thereof, and all rights
      to listings or keyword associations in any Internet search engines or
      directories associated with the domain names (collectively, the “Domain
      Names”).
      

     

    B.
      Web Site and Web Site Materials.
      The web
      pages created or acquired by Telecom or Alpha with respect to the Business
      and
      principally associated with, or located at or under, the Domain Names
      (collectively, the “Web
      Site”),
      including all Web Site Materials. “Web
      Site Materials”
means:
      (i) web pages, support files and related information and data principally
      associated with the Web Site; (ii) any and all text, graphics, HTML or similar
      code, applets, scripts, programs, databases, source code, object code,
      templates, forms, image maps, documentation, audio files, video files, log
      files
      or customer data, in each case principally associated with the Web Site; (iii)
      all copyrights, copyright registrations, copyright applications, trade secrets,
      moral rights, publicity rights and know-how, in each case principally associated
      with the Web Site; (iv) all content that has appeared in any past or present
      editions of the Web Site, whether archived on the Web Site or otherwise; and
      (v)
      the operation, concepts, look and feel of the Web Site and Web Site Materials
      listed in clauses (i) through (iv) above (the “Content”).
      

     

    C.
      Trademarks.
      All
      trademarks, trade names or service marks related to the Domain Names and
“myspace.com,” “myspacemusic.com,” “musicmyspace.com” and “myspace.tv,”
including any registrations or applications for registration, and all goodwill
      associated therewith (collectively, the “Marks”).
      All
      income, royalties, damages and payments due or payable and causes of action
      for
      infringement or violation of all rights in and to the Marks after the Closing
      Date as they pertain to the rights hereby assigned. 

     

    D.
      Customer Information.
      All
      customer lists, databases, and files of the Business and documents relating
      to
      customers of the Business. 

     

    E.
      Permits and Licenses.
      All
      governmental franchises, licenses, approvals, authorizations and permits that
      are held or used primarily in connection with the Business (the “Assumed
      Permits”).
      

     

    F.
      Tangible Personal Property.
      The
      tangible personal property listed on Schedule B-1 hereto. 

     

    G.
      Contracts.
      The
      contracts listed on Schedule B-2 hereto and any other contract that relates
      exclusively to the Business (the “Assumed
      Contracts”).
      

     

    H.
      Accounts Receivable. All
      accounts receivable of the Business. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      C 

     

    EXCLUDED
      ASSETS 

     

    A.
      All
      cash and cash equivalents of either Owner. 

     

    B.
      All
      rights, claims and causes of action of either Owner relating to any Excluded
      Asset or any of the Retained Liabilities. 

     

    C.
      Any
      shares of capital stock of (i) Owner or (ii) any affiliate of either Owner.
      

     

    D.
      Any
      assets relating to any employee benefit plan in which any employees of either
      Owner or any of their respective affiliates participate. 

     

    E.
      Any
      refunds or credits, claims for refunds or credits or rights to receive refunds
      or credits from any governmental authority with respect to income taxes paid
      or
      to be paid by either Owner or any of their respective affiliates relating to
      periods or portions thereof ending on or prior to the date of the Agreement.
      

     

    F.
      Any
      records (including accounting records) related to any taxes paid or payable
      by
      either Owner, or any of their respective affiliates, and all financial and
      tax
      records relating to the Business that form part of either Owner’s, or any of
      their respective affiliates, general ledger. 

     

    G.
      All
      rights of either Owner under this Agreement and any other agreements,
      certificates and instruments otherwise delivered in connection with this
      Agreement. 

     

    H.
      The
      name and mark “Telecom”, any other names and marks of either Owner other than
      those related to the Business (in each case in any style or design), and any
      name or mark derived from or including any of the foregoing. 

     

    I.
      All
      corporate-level services of the type currently provided to the Business by
      either Owner or their respective affiliates. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    EXHIBIT
      D

     

    ASSUMED
      LIABILITIES 

     

    A.
      All
      obligations, liabilities and commitments of either Owner or its affiliates
      under
      the Assumed Contracts and/or Assumed Permits; 

     

    B.
      All
      accounts payable, accrued liabilities and other current liabilities of either
      Owner or its affiliates arising out of the operation or conduct of the Business
      or otherwise in respect of the Business; 

     

    C.
      All
      obligations, liabilities and commitments in respect of any and all products
      manufactured or sold and all services provided by the Business at any time,
      including obligations, liabilities and commitments for refunds, adjustments,
      allowances, repairs, exchanges, returns and warranty, product liability,
      merchantability and other claims; 

     

    D.
      All
      obligations, liabilities and commitments in respect of any pending or threatened
      proceedings, and claims, whether or not presently asserted, arising out of,
      relating to or otherwise in any way in respect of the Business or the operation
      or conduct of the Business at any time; 

     

    E.
      all
      liabilities of either Owner or any affiliate of a Owner with respect to
      employees of the Business that become employees of the Company, including
      without limitation any accrued vacation time and accrued but unpaid wages;
      and

     

     F.
      All taxes (other than income taxes described in clause (A) of Exhibit F) arising
      out of or relating to the operation of the Business for all taxable periods
      including, without limitation, any transfer taxes arising out of the
      consummation of the transactions contemplated by this Agreement. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      E 

     

    RETAINED
      LIABILITIES 

     

    A.
      All
      income taxes (if any) arising out of the operation of the Business imposed
      on
      any Owner or affiliates of any Owner for any taxable periods ending on or prior
      to the date of this Agreement and the portion ending on the date of this
      Agreement of any taxable period that includes (but does not end) on the date
      of
      this Agreement. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      F

     

    FORM
      OF BILL OF SALE 

     

    FOR
      AND
      IN CONSIDERATION OF the sum required to be paid pursuant to that certain
      Acquisition Agreement, dated as of June 16, 2006, by and among HRDQ Group,
      Inc.,
      a Delaware corporation (the “Company”),
      Alpha
      Century Holdings, Ltd, a BVI corporation (“Alpha”),
      China
      Dongguan Networks, Inc, a BVI corporation (“CDN”
and,
      together with Alpha, the “Owners”),
      and
      Telecom Communications, Inc., a Delaware corporation (the “Acquisition
      Agreement”),
      the
      receipt and sufficiency of which are hereby acknowledged, Owners do hereby
      sell
      and convey to the Company, all of Owners’ right, title and interest in and to
      the Acquired Assets (as defined in the Acquisition Agreement) including the
      assets described on Schedule
      1
      attached
      hereto and made a part hereof (the “Property”).
      

     

    This
      instrument may be executed in one or more counterparts, each of which shall
      be
      deemed an original, and all of which, when taken together, shall be deemed
      one
      instrument, but no counterpart shall be binding unless an identical counterpart
      shall have been executed and delivered, including by facsimile by each of the
      other parties hereto. 

     

    (Signature
      Page Follows)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Bill of Sale as of the
      16th day of June, 2006. 

     

    
      	 	 	 
	 	
              OWNERS:

            
	 	
            
	 	
              Alpha
                Century Holdings, Ltd

            
	 	 
	
                                                                         
                 By:

            	
              Telecom
                Communications, Inc.

              Managing
                Member

            
	 
 	 
 	 
 
	 	By:  	 
	 	
               

              Name: 
                

            	
              

              Tim
                Chen

            
	 	Title: 	
              Chief
                Executive Officer

            

    

    
       

      
        	 	 	 
	 	
                 

              
	 	
                China
                  Dongguan Networks, Inc, a BVI corporation

              
	 
 	 
 	 
	 	By:  	 
	 	
                 

                Name: 
                  

              	
                

                
                  Limei
                    Deng

                

              
	 	Title: 	
                
                  President

                

              

      

       

    

    
      	 	 	 
	
              ACKNOWLEDGED
                AND AGREED:

            
	 
	
              THE
                COMPANY:

            
	 
	
              HRDQ
                GROUP, INC., a Delaware 

              corporation

            
	 	 
	
              By:
                
                Name:

              

            	
              
                

              

              Limei
                Deng

            
	
              
                Title:

              

            	
              President

            
	
               

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      G 

     

    FORM
      OF ASSIGNMENT AND ASSUMPTION OF 

    CERTAIN
      CONTRACT RIGHTS 

     

    For
      good
      and valuable consideration, the receipt and adequacy of which are hereby
      acknowledged, Telecom Communications, Inc., a Delaware corporation
      (“Telecom”),
      China
      Dongguan Networks, Inc, a BVI corporation (“CDN”),
      and
      Alpha Century Holdings, Ltd, a BVI corporation (“Alpha”
and,
      together with Telecom and CDN, “Assignors”),
      do
      hereby assign, convey, transfer and deliver to HRDQ Group, Inc., a Delaware
      corporation (the “Company”),
      subject to and upon the terms and conditions of that certain Acquisition
      Agreement, dated as of June 16, 2006, by and among the Company and Assignors
      (the “Acquisition
      Agreement”),
      all
      of Assignors’ right, title and interest in and to (if any) the agreements listed
      on Schedule A attached hereto and made a part hereof together with all
      amendments and clarifications attached thereto (the “Contracts”).
      

     

     

    The
      Company hereby accepts said assignment and hereby assumes the Contracts subject
      to and upon the terms and conditions of each of the Acquisition Agreement and
      the Assumption of Liabilities dated as of the date hereof. 

     

    (Signature
      Page Follows)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, Assignor and the Company, intending to be legally bound hereby,
      have caused this instrument to be executed and delivered as of this 16th day
      of
      June, 2006. 

     

    
      	 	 	 
	 	
              ASSIGNORS:

            
	 	 
	 	
              Telecom
                Communications, Inc., a Delaware corporation

            
	 
 	 
 	 
 
	 	By:  	 
	 	
               

              Name:

            	
              
                
Tim
                Chen

            
	 	Title: 	
              Chief
                Executive Officer

            

    

    
       

      
        	 	 	 
	 	
                
                  China
                    Dongguan Networks, Inc, a BVI corporation

                

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                 

                Name:

              	
                
                  

                  Limei
                    Deng

                

              
	 	Title: 	
                
                  President

                

              

      

      
         

        
          	 	 	 
	 	
                  
                    
                      Alpha
                        Century Holdings, Ltd, a BVI corporation

                    

                  

                
	 
 	 
 	 
 
	 	By:  	
                  Telecom
                    Communications, Inc.

                  Managing
                    Member

                   

                
	 	
                  By:

                	
                  
                     

                  

                
	 	
                  Name:

                	
                  
                    

                    Tim
                      Chen

                  

                
	 	Title: 	
                  
                    
                      Chief
                        Executive
                        Officer

                    

                  

                

        

        
          
             

            
              	 	 	 
	 	
                      
                        
                          
                            THE
                              COMPANY:

                          

                        

                      

                    
	 
 	 
 	 
 
	 	 	
                      
                        HRDQ
                          Group, Inc., a Delaware corporation

                      

                       

                    
	 	
                      By:

                    	
                      
                         

                      

                    
	 	
                      Name:

                    	
                      
                        

                        
                          Limei
                            Deng

                        

                      

                    
	 	Title: 	
                      
                        
                          
                            President

                          

                        

                      

                    

            

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

          

        

      

       

    

    EXHIBIT
      H 

    ASSIGNMENT
      OF INTELLECTUAL PROPERTY

     

    This
      ASSIGNMENT OF INTELLECTUAL PROPERTY (this “Assignment”),
      dated
      as of June 16, 2006, is entered into by Alpha Century Holdings, Ltd, a BVI
      corporation (“Alpha”),
      and
      China Dongguan Networks, Inc, a BVI corporation (“CDN,”
and
      together with Alpha, the “Assignors”),
      as
      assignors, in favor of HRDQ Group, Inc., a Delaware corporation (the
“Assignee”),
      as
      assignee, with reference to the following facts and circumstances: 

     

    WHEREAS,
      Assignors and Assignee have entered into an Acquisition Agreement, dated as
      of
      June 16, 2006, by and among Assignors, Assignee and Telecom Communications,
      Inc., a Delaware corporation (the “Acquisition
      Agreement”),
      pursuant to which Assignors have agreed to contribute all of their respective
      right, title and interest in and to the Acquired Assets to the Assignee upon
      the
      terms and conditions set forth therein; and 

     

    WHEREAS,
      Assignee would not have entered the Acquisition Agreement but for Assignors’
execution of this Assignment. 

     

    NOW,
      THEREFORE, to all whom it may concern, be it known that for good and valuable
      consideration the receipt and adequacy of which is hereby acknowledged, Assignor
      agrees: 

     

    1.
      Definitions.
      Except
      as specified to the contrary, all capitalized terms in this Assignment shall
      have the meanings assigned to them in the Acquisition Agreement, including
      the
      Exhibits thereto. 

     

    2.
      Assignment
      of Intellectual Property.
      Subject
      to the terms and conditions of the Acquisition Agreement, effective on the
      date
      hereof, Assignors hereby assign to Assignee all of their respective right,
      title
      and interest in and to the Domain Names, Web Site, Web Site Materials and Marks.
      

     

    Executed
      at Guangzhou, China of this 16th day of June, 2006.

     

    
      	 	 	 
	
              Alpha
                Century Holdings Ltd., a BVI corporation

            
	 	 	 
	
              
By:

            	 
 	 

              Telecom
                Communications, Inc.

              Managing
                Member

            
	 	 	 
	 	By:  	 
	 	
               

              Name:

            	
              

              Tim
                Chen

            
	 	Title 	
              Chief
                Executive Officer

            
	 	
            
	 	 

    

    
       

      
        	
                China
                  Dongguan Networks, Inc, a BVI corporation

              
	 	 	 
	 	 	 
	 	By:  	 
	 	
                 

                Name:

              	
                

                
                  Limei
                    Deng

                

              
	 	Title 	
                
                  President

                

              
	 	
              
	 	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    EXHIBIT
      I

     

    ASSUMPTION
      OF LIABILITIES 

     

    Pursuant
      to that certain Acquisition Agreement, dated as of June 16, 2006, by and among
      HRDQ Group, Inc., a Delaware corporation (the “Company”),
      Telecom Communications, Inc., a Delaware corporation, Alpha Century Holdings,
      Ltd, a BVI corporation, (“Alpha”)
      and
      China Dongguan Networks, Inc, a BVI corporation (the “Acquisition
      Agreement”),
      for
      good and valuable consideration, the receipt and adequacy of which are hereby
      acknowledged, the Company does hereby absolutely and unconditionally assume
      the
      Assumed Liabilities as such term is defined in the Acquisition Agreement subject
      to the terms and conditions of the Acquisition Agreement. 

     

    Executed
      at Guangzhou, China of this 16th day of June, 2006. 

     

    
      	 	 	 
	 	
              HRDQ
                GROUP, INC., a Delaware corporation

            
	 
 	 
 	 
 
	 	By:  	 
	 	
               

              Name:

            	
              
                
Limei
                Deng

            
	 	Title: 	
              PresidentExhibit
      10.5

    HRDQ
      GROUP,
      INC.

    

FORM
  OF CONVERTIBLE
  PROMISSORY NOTE

     

    
      	 	 	 
	
              $1,500,000.00

            	
               

            	
              _______,
          2006

              Guangzhou,
                China

            

    

    

FOR
  VALUE RECEIVED, HRDQ
  GROUP, INC.,
  a Delaware corporation (“Maker”),
  hereby promises to pay to the order of Alpha
  Century Holdings Ltd.
  (“Payee”),
  the principal amount of ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00),
  together with interest thereon from the date hereof accruing at the rate of
  eight percent (8%) per annum. Principal and all accrued interest shall be payable
  in full on or before _______, 2007. This Note is unsecured. 

     

    PAYMENT
      TERMS

     

Principal
  and Interest. The principal amount of this Note, together with
  all accrued interest, shall be due and payable on or before _______, 2007.

     

    Manner
      of
      Payment. All payments of principal and interest in respect of this Note shall
      be
      made in lawful money of the United States of America in same day funds to the
      following wire account: Standard Chartered Bank (Hong Kong) Limited, Hong Kong,
      Account Name: Alpha Century Holdings Ltd., or at such other place as Payee
      may
      direct. Whenever any payment on this Note is stated to be due on a day that
      is
      not a Business Day, such payment shall instead be made on the next Business
      Day,
      and such extension of time shall be included in the computation of interest
      payable on this Note. Each payment made hereunder shall be credited to
      principal, and interest shall thereupon cease to accrue upon the principal
      so
      credited.

     

    Prepayment.
      Maker may, without premium or penalty, at any time and from time to time, prepay
      all or any portion of the outstanding principal balance due under this Note,
      provided that each such prepayment is accompanied by accrued interest on the
      amount of principal prepaid calculated to the date of such
      prepayment.

     

    DEFAULT

     

    The
      occurrence of any one or more of the following events with respect
      to
      Maker
      shall constitute an event of default hereunder ("Event of
      Default"):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (a)  If
      Maker
      shall fail to pay when due any payment of principal or interest on this Note
      and
      such failure continues for fifteen (15) days
      after
      Payee notifies Maker in writing;

     

    (b)  The
      Maker
      shall default in the observance or performance of any other term, covenant
      or
      agreement contained herein and the same shall not be cured within fifteen (15)
      days of the occurrence thereof;

     

    (c)  If,
      pursuant to or within the meaning of the United States Bankruptcy Code (the
      “Code”) or any other federal or state law relating to insolvency or relief of
      debtors (a "Bankruptcy Law"), Maker shall (i) commence a voluntary case or
      proceeding; (ii) consent to the entry of an order for relief against it in
      an
      involuntary case; (iii) consent to the appointment of a trustee, receiver,
      assignee, liquidator or similar official; (iv) make an assignment for the
      benefit of its creditors; or (v) admit in writing its inability to pay its
      debts
      as they become due.

     

    (d)  If
      a
      court of competent jurisdiction enters an order or decree under the Code or
      any
      other Federal or state law relating to insolvency or relief of debtors that
      (i)
      is for relief against Maker in an involuntary case, (ii) appoints a trustee,
      receiver, assignee, liquidator or similar official for Maker or substantially
      all of Maker's assets, or (iii) orders the liquidation of Maker, and in each
      case the order or decree is not dismissed within one hundred twenty (120)
      days.

     

    REMEDIES

     

    Upon
      the
      occurrence of an Event of Default hereunder (unless all Events of
      Default
      have been cured or waived by Payee), Payee may, at its option, (i) by written
      notice to Maker, declare the entire unpaid principal balance of this Note,
      together with all accrued interest thereon, immediately due and payable
      regardless of any prior forbearance and (ii) exercise any and all rights and
      remedies available to it under applicable law, including, without limitation,
      the right to collect from Maker all sums due under this Note. Maker shall pay
      all reasonable costs and expenses incurred by or on behalf of Payee in
      connection with Payee’s exercise of any or all of its rights and remedies under
      this Note, including, without limitation, reasonable attorneys'
      fees.

     

    CONVERSION
      INTO COMMON STOCK

     

    The
      unpaid principal amount of the Note and accrued interest thereon
      may,
      at the
      election of Payee, be converted in full or part into fully paid and
      nonassessable shares of Common Stock of Maker (“Common Stock”) at a rate of
      $2.00 per share.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Manner
      Of
      Conversion. This Note may be converted by Maker by surrender of this Note,
      to
      Maker at its principal office at 2/F Huiridianqi Shayu Road Panyu Guangzhou,
      GD511490 China (or at such other office as the Maker shall designate to Payee
      from time to time). The conversion shall be deemed to have been effected
      immediately prior to the close of business on the date on which the Note shall
      have been so surrendered to the Maker.

     

    Delivery
      of Stock Certificates. As promptly as practicable after the conversion of this
      Note, and in any event within thirty (30) days thereafter, the Maker at its
      expense will issue, authenticate and deliver to the converting Lender the
      certificate or certificates for the number of shares of Common Stock issuable
      upon such conversion. All shares of Common Stock which shall be so deliverable
      shall be duly and validly issued and fully paid and nonassessable. Each
      certificate shall bear the following legend: THE SECURITIES REPRESENTED BY
      THIS
      CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR
      APPLICABLE STATE SECURITIES LAWS, AND ACCORDINGLY, MAY NOT BE SOLD, TRANSFERRED,
      PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION
      UNDER SUCH ACT AND SUCH LAWS OR PURSUANT TO AN EXEMPTION THEREFROM.

     

    Covenant
      to Reserve Shares for Conversion. Maker covenants that it will at all times
      reserve and keep available, out of its authorized Common Stock, solely for
      the
      purpose of delivery upon conversion of this Note, such number of shares of
      Common Stock as shall then be deliverable upon the conversion of this
      Note.

     

    No
      Dilution. If the Maker:

     

    (i)  (A)
      makes
      a distribution in respect of the Common Stock in shares of Common Stock, (B)
      subdivides the outstanding shares of Common Stock or (C) combines the
      outstanding shares of Common Stock into a smaller number of shares, in each
      case
      whether by reclassification or recapitalization (including reclassification
      or
      recapitalization by way of merger or consolidation); or

     

    (ii)  issues
      to
      holders of shares of Common Stock as a dividend or distribution, (including
      by
      way of reclassification or recapitalization), any right or warrant to purchase
      shares of Common Stock, or any other security convertible into shares of Common
      Stock; or

     

    (iii)  issues,
      sells or exchanges shares of Common Stock for a cash price less than the fair
      market value of such Common Stock on the date of such issuance, sale or exchange
      other than pursuant to options or commitments to issue securities outstanding
      on
      the date of the Note; or

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (iv)  makes
      a
      distribution in respect of the Common Stock by way of dividend, distribution
      reclassification or recapitalization (including by way of merger or
      consolidation), or redeems or repurchases any Common Stock; then the Maker
      shall
      promptly adjust the number of shares of Common Stock to be received upon
      conversion hereunder so that the fair market value of the shares to be received
      by Payee following any of the events described in (i)-(iv) is equal to the
      fair
      market value of the shares that would have been received by Purchaser if
      conversion had taken place immediately prior to such event and
      adjustment. 

     

    Disclosures.
      Payee understands and acknowledges that the there is no active
      market
      for the Maker's Common Stock, and Maker will likely operate at a loss during
      the
      year ended December 31, 2006. Payee understands that an investment in Maker
      is a
      high risk investment. Payee understands that the $2.00 conversion price has
      been
      arbitrarily determined and does not indicate that the shares of Maker's Common
      Stock's are worth, or have a value of $2.00 per share under any criteria of
      valuation.

     

    Availability
      of Information. The Maker undertakes to make available to
      Payee in
      connection with Payee's decision as to whether Payee will convert this Note,
      any
      reasonable and relevant information requested, and undertakes to give the Payee
      an opportunity to ask questions of, and receive answers from, Maker concerning
      any financial or other matter relating to the Maker.

     

    WAIVER

     

    The
      rights and remedies of Payee under this Note shall be cumulative and
      not
      alternative. No waiver by Payee of any right or remedy under this Note shall
      be
      effective unless in writing signed by Payee. Neither the failure nor any delay
      in exercising any right, power or privilege under this Note will operate as
      a
      waiver of such right, power or privilege and no single or partial exercise
      of
      any such right, power or privilege by Payee will preclude any other or further
      exercise of such right, power or privilege or the exercise of any other right,
      power or privilege. To the maximum extent permitted by applicable law, (a)
      no
      claim or right of Payee arising out of this Note can be discharged by Payee,
      in
      whole or in part, by a waiver or renunciation of the claim or right unless
      in a
      writing, signed by Payee; (b) no waiver that may be given by Payee will be
      applicable except in the specific instance for which it is given; and (c) no
      notice to or demand on Maker will be deemed to be a waiver of any obligation
      of
      Maker or of the right of Payee to take further action without notice or demand
      as provided in this Note. Maker hereby waives presentment, demand, protest
      and
      notice of dishonor and protest.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    OTHER
      PROVISIONS

     

    This
      Note
      shall be construed according to, and shall be governed by, the
      laws of
      the State of New York. The provisions of this Note shall be deemed severable,
      so
      that if any provision hereof is declared invalid under the laws of any state
      where it is in effect, or of the United States, all other provisions of this
      Note shall continue in full force and effect. This Note may be amended only
      by a
      writing signed on behalf of each party.

     

    Any
      suit
      filed to enforce this Note or collect the money owed hereunder shall be filed
      in
      any state or federal court having subject matter jurisdiction and located in
      BVI. In any action or proceeding instituted with respect to any such claim,
      Maker irrevocably submits to the jurisdiction of such courts. 

     

    This
      Note
      shall be binding upon the successors and assigns of Maker, and shall inure
      to
      the benefit of and be enforceable by the heirs, personal representatives,
      successors and assigns of Payee or any other holder hereof.

     

    IN
      WITNESS WHEREOF,
      the
      undersigned has duly executed, sealed and delivered this Promissory Note the
      day
      and year first above written.

     

    
      	 	 	 
	 	HRDQ
              GROUP, INC.,
	 
 	
              a
                Delaware corporation

               

               

            
	 	By:  	/s/ Limei
              Deng 
              
Limei
              Deng / CEO
	 	 	 

    

     

    
      
        
        

      

      
        5

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