Document:

Pioneer Custom Electric Products Corp. 8-K

 

Exhibit 10.1

 

 

December 27, 2018

 

Via Electronic Mail

 

Cleanspark, Inc.

6365 Nancy Ridge Drive, Fl.
2

San Diego, California 92121

Attention: Zachary Bradford,
President

 

	Re:	Extension of Termination Date

 

Dear Mr. Bradford:

 

Reference is made
to that certain Asset Purchase Agreement by and between Cleanspark, Inc. (“Cleanspark”) and Pioneer Custom
Electric Products Corp. (“Pioneer”), dated as of May 2, 2018 (the “Purchase Agreement”),
as amended by those certain Letter Agreements, dated as of June 29, 2018 and July 16, 2018, respectively, between Cleanspark and
Pioneer (the “Original Letter Agreement”). All capitalized terms used and not otherwise defined herein
shall have the meaning set forth in the Purchase Agreement.

By execution hereof,
Cleanspark hereby agrees to extend the Termination Date as set forth in Section 8.1(d) of the Purchase Agreement, as amended by
the Original Letter Agreement, from December 31, 2018 until on or before January 16, 2019 (the “Extension”).
During the Extension, all other terms and conditions of the Purchase Agreement shall remain in full force and effect.

The Parties agree
that, in addition to the other Closing conditions set forth in the Agreement, the obligation of Purchaser to consummate the transactions
contemplated by the Purchase Agreement, is subject to Bank of Montreal releasing any Liens it holds on the Acquired Assets. The
Parties further agree that they are entering into the Extension to, amongst other things, allow the Parties sufficient time to
negotiate amendments to the business terms and structure of the transactions set forth in the Purchase Agreement.

Sections 9.4 –
9.14 of the Purchase Agreement shall apply to this Agreement mutatis mutandis.

If you are in agreement
with the foregoing, please so indicate by your countersignature below.

	 	Very truly yours,
	 	 
	 	PIONEER CUSTOM ELECTRIC PRODUCTS CORP.
	 	 
	 	 
	 	By:	/s/ Nathan Mazurek
	 	 	Name:  Nathan Mazurek
	 	 	Title:  President

 

 

 

    	 

    	 

    

Agreed and Accepted as
of

this 27th day of December,
2018

CLEANSPARK,
INC.

 

	By:	/s/ Zachary Bradford	 
	 	Name:  Zachary Bradford	 
	 	Title: President	 

 

 

    	 	2Exhibit 10.1

 

SHARE
SALE AND PURCHASE AGREEMENT

 

SFO
Enterprises pty ltd atf sfo enterprises trust

acn
603 266 333

first
names (singapore) pte ltd

org
no.: 614 781 154

shaffier
pty ltd

acn
607 485 692

(collectively,
the “VENDORS”)

 

ANVIA
(AUSTRALIA) PTY LTD 

ACN
605 782 849

(“PURCHASER”)

 

In
connection with the sale of:

 

WORKSTAR
TECHNOLOGIES PTY LTD

ACN
619 588 840

(THE
HOLDING COMPANY)

 

And
its wholly owned subsidiary:

 

WORKSTAR
TECH (AUST) PTY LTD 

ACN
619 867 613

(“THE
COMPANY”)

 

    	 

     

    

 

	DATE	2018

 

Parties

 

SFO
ENTERPRISES PTY LTD ATF SFO ENTERPRISES TRUST ACN 603 266 333 of Level 5, 570 St Kilda Road, Melbourne, Victoria, Australia,
3004

 

FIRST
NAMES (SINGAPORE) PTE LTD ORG NO.: 614 781 154 of 14 Robinson Road, #09-01a Far East, Finance Building 048545, Singapore

 

SHAFFIER
PTY LTD ACN 607 485 692 of 67 Rose St, Fitzroy, Victoria, Australia, 3065

 

(collectively,
the Vendors)

 

ANVIA
(AUSTRALIA) PTY LTD ACN 605 782 849 of 295 Old Cleveland Road, Coorparoo QLD 4151 (“the Purchaser”)

 

RECITALS

 

	1.	The
    Vendor is the legal and beneficial owner of the Shares in the Holding Company.
	 	 
	2.	The
    Vendor has agreed to sell and the Purchaser has agreed to buy the Shares for the Purchase Price and upon the terms set out
    hereunder. 
	 	 
	3.	The
    Parties have agreed to change the officeholder arrangements of the Holding Company and the Company.
	 	 
	4.	The
    Vendor and the Purchaser has consented to and agreed to be bound by the terms of this Agreement.
	 	 
	5.	Each
    party acknowledges that prior to signing this Agreement they have received or have had the opportunity to seek independent
    legal advice that the provisions of this Agreement are fair and reasonable.

 

THE
PARTIES AGREE:

 

	1	DEFINITIONS
    AND INTERPRETATION
	 	 
	1.1	Definitions

 

In
this agreement:

 

Assets
means all of the assets of the Holding Company and the Company including but not limited to Goodwill, Intellectual Property,
Business Records, Electronic Addresses, Plant and Equipment and Stock of the Business, as recorded in pre-sale documents.

 

    	 

     

    

 

 

Authorised
Persons means, in relation to a party:

 

	 	(a)	the
    directors, secretary and any other person appointed to act as an authorised officer of that party;
	 	 	 
	 	(b)	the
    employees of that party;
	 	 	 
	 	(c)	the
    legal, financial and other advisers of that party; and
	 	 	 
	 	(d)	the
    respective officers and employees of those legal, financial and other advisers.

 

Business
means the business of a content developer and training organization carried on by the Holding Company and the Company, and
any other business carried on by the Holding Company and the Company.

 

Business
Name means Workstar Tech (Aust) Pty Ltd.

 

Business
Records means all financial statements, financial records, customer lists, student lists, supplier lists, details of customers,
students and suppliers (including pricing policies and terms of payment), books, records and documents relating to the Business,
Assets and the Premises.

 

Business
Day means a day that is not a Saturday, Sunday or public holiday in Brisbane, Queensland, Sydney, NSW or Melbourne, Victoria.

 

Claim
means a claim, action, proceeding, judgment or demand made or brought by or against a person, however arising and whether
present, unascertained, future or contingent.

 

Company
means the company described in item 2 of schedule 1.

 

Company’s
Turnover means any company income derived from the Business.

 

Completion
means completion of the sale and purchase of the Shares under this Agreement.

 

Completion
Date means 31 December 2019 or earlier by mutual agreement.

 

Confidential
Information means the following information, regardless of form:

 

	 	(a)	information
    relating to the Disclosing Party or to the Disclosing Party’s business, including financial statements, projections,
    forecasts, accounts, prospects, strategies, business processes and system functionality, business operations, assets, liabilities,
    customers, client lists, personnel, suppliers, contracts, products and stock and sales information trade secrets, know how,
    ideas, Intellectual Property, prospective customers or marketing and including discussions relating to that information;
	 	 	 
	 	(b)	information
    created, based on or derived from any information falling within any other paragraph of this definition, including reports,
    analysis, adaptations and improvements; and
	 	 	 
	 	(c)	the
    existence and terms of this agreement, including the subject matter of this agreement and any discussions or negotiations
    regarding this agreement,

 

but
does not include information that:

 

	 	(d)	at
    the time of disclosure by or on behalf of the Disclosing Party to the Receiving Party, was in the lawful possession of the
    Receiving Party, including without any breach of any obligation of confidentiality;
	 	 	 
	 	(e)	is
    in the public domain as at the date of this agreement or subsequently enters the public domain, otherwise than as a breach
    of clause 8 or any other obligation of confidentiality; or
	 	 	 
	 	(f)	is
    or was legally and properly obtained by the Receiving Party from any other source where that other source is not or was not
    then subject to any obligation of confidentiality.

 

    	 

     

    

 

Default
of the Purchaser means the occurrence of one of the following events:

 

	 	(a)	any
    warranties or representations set forth herein by the Purchaser to be untrue in any material respect when made prior or at
    Completion; or 
	 	 	 
	 	(b)	Purchaser’s
    failure to meet, comply with, or perform any covenant, agreement or obligation on its part required within the time limits
    and in the manner required in this Agreement.

 

Default
of the Vendor means the occurrence of one of the following events:

 

		(a)	any
                                         warranties or representations set forth herein by the Vendor or the Company to be untrue
                                         in any material respect when made prior or at Completion; or

 

		(b)	Company
                                         or Vendor’s failure to meet, comply with, or perform any covenant, agreement or
                                         obligation on its part required within the time limits and in the manner required in
                                         this Agreement.

 

Deposit
means 5% of the Purchase Price (including the lease Guarantee), which has been paid to the Deposit Holder.

 

Disclosing
Party means, in respect of the Confidential Information of the Vendor or the Company, the Vendor and Existing Director and
Secretary, and, in respect of the Confidential Information of the Purchaser, the Purchaser and the New Director.

 

Electronic
Addresses means ending with “workstar.com.au”. and any related email addresses.

 

Employees
means employees engaged by the Holding Company or the Company in the conduct of the Business.

 

Employee
Remuneration means:

 

	 	●	wages,
    salary, commission and bonuses in respect of any Employee;
	 	 	 
	 	●	annual
    leave (including leave loading), long service leave (whether those entitlements are immediately payable to the employee or
    not) in respect of any Employee;
	 	 	 
	 	●	the
    Company’s contributions to superannuation in respect of any Employee;
	 	 	 
	 	●	payments
    by the Company on death, disability or retirement of any Employee; and
	 	 	 
	 	●	any
    fringe benefit (within the meaning of the Fringe Benefits Tax Assessment Act 1986) in respect of any Employee.

 

Encumbrance
includes:

 

	 	(a)	a
    security interest (as defined in the PPSA);
	 	 	 
	 	(b)	any
    other right, interest or arrangement that secures, or which has the effect of securing, the payment of money or the performance
    of a debt, obligation or liability or which has the effect of giving a person a preferential interest or priority, including
    a mortgage, debenture, charge, lien, pledge, bill of sale, hypothecation, title retention arrangement, lease, hire purchase,
    trust, assignment or deposit by way of security, however described;
	 	 	 
	 	(c)	any
    right, interest, power or arrangement which has the effect of providing a person with a priority, preference or advantage
    over another person, including arising from any option, equity, preferential interest, adverse interest or third party claim
    or right of any kind;

 

    	 

     

    

 

	 	(d)	a
    right that a person (other than the owner) has to remove something from an asset (known as profit á prendre), or to
    use or occupy the asset, including a lease or licence or a caveat, easement or restrictive or positive covenant affecting
    an asset, and any third party right or interest in any right arising as a consequence of the enforcement of a judgement, including
    a garnishee order or a writ of execution; and
	 	 	 
	 	(e)	any
    agreement to give, create, grant or register any of the above or allow any of the above to exist without regard to the form
    of the transaction or agreement.

 

Goodwill
means:

 

	 	(a)	the
    goodwill of the Business; and
	 	 	 
	 	(b)	the
    exclusive right of the Purchaser to represent to carry on the Business as the Vendor’s successor.

 

GST
has the meaning given to it by the GST Act.

 

GST
Act means the A New Tax System (Goods and Services Tax) Act 1999 (Cth).

 

Holding
Company means the company described in item 1 of schedule 1.

 

Insolvency
Event means:

 

	 	(a)	in
    relation to a body corporate, a liquidation or winding up, the appointment of a controller, administrator, receiver, manager
    or similar insolvency administrator to a party or any substantial part of its assets or the entering into a scheme or arrangement
    with creditors or the occurrence of any event that has a substantially similar effect to any of the preceding events;
	 	 	 
	 	(b)	in
    relation to an individual, becoming bankrupt or entering into a scheme or arrangement with creditors or the occurrence of
    any event that has a substantially similar effect to any of the preceding events; or
	 	 	 
	 	(c)	in
    relation to a trust, the making of an application or order in any court for accounts to be taken in respect of the trust or
    for any property of the trust to be brought into court or administered by the court under its control or the occurrence of
    any event that has a substantially similar effect to any of the preceding events.

 

Intellectual
Property means:

 

	 	(a)	all
    trade names, trademarks, business names used by the Vendor to conduct the Business including the Business Name;
	 	(b)	copyright
    in the Business Records;
	 	(c)	Softwares,
    Content Library, Authoring tools;
	 	(d)	List
    of clients and agreements 
	 	(e)	social
    media accounts including but not limited to the Facebook account operated by the Seller in promoting the Business;
	 	(f)	all
    items listed in clause 27; and
	 	(g)	all
    licenses, consents and authorities from third parties in respect of any of the above.

 

Liability
includes any liability, loss, cost (including all legal costs and expenses on a full indemnity basis), Claim, expense, damage,
charge, penalty, outgoing or payment, however arising and whether present, unascertained, future or contingent, except as expressly
covered under separate sections of this agreement in relation to student advance payments, and agent commissions.

 

    	 

     

    

 

Plant
and Equipment means the plant, equipment, fixtures, fittings, furniture, furnishings and computer software used by the Vendor
to conduct the Business or otherwise specified in this Agreement.

 

PPSA
means the Personal Property Securities Act 2009 (Cth).

 

PPSR
means the Personal Property Securities Register established under the PPSA.

 

Premises
means the premises leased by the Company and from which the Business operates being, Level 1, 235 Commonwealth Street, Surrey
Hills, NSW, 2010.

 

Premises
Leases means the leases of the Premises, copies of which have been provided to the Purchaser by the Vendor.

 

Purchase
Price means $300,000.00 (inc. GST).

 

Purchaser
Warranties means each of the representations and warranties given by the Purchaser referred to in clause 7 and set out in
schedule 3.

 

Receiving
Party means, in respect of the Confidential Information of the Vendor or the Company, the Purchaser and, in respect of the
Confidential Information of the Purchaser, the Vendor.

 

Records
means:

 

	 	(a)	receipts
    and other evidence of all sales and purchases made for the business;
	 	 	 
	 	(b)	tax
    invoices, wage and salary records;
	 	 	 
	 	(c)	all
    documents relating to GST;
	 	 	 
	 	(d)	records
    of the purchase, sale and other costs of any business assets; and
	 	 	 
	 	(e)	all
    records relating to tax returns, activity statements, fringe benefits tax returns, and contributions to employee super.

 

Shares
means Shares of the Holding Company described in item 1 of schedule 1.

 

Stock
means all advertising material, trading stock, stationery, consumables and packaging for use in the Business and on
hand at Completion, but which are not damaged or obsolete.

 

Tax
means any tax, levy, excise, duty, charge, surcharge, contribution, withholding tax, impost or withholding tax obligation
of whatever nature, whether direct or indirect, by whatever method collected or recovered.

 

Vendor
Warranties means each of the representations and warranties given by the Vendor referred to in clause 6 and set out in schedule
2.

 

	 	1.2	Interpretation

 

In
this agreement, headings are inserted for convenience only and do not affect the interpretation of this agreement and unless the
context otherwise requires:

 

	 	(a)	the
    singular includes the plural and vice versa;
	 	 	 
	 	(b)	a
    gender includes the other gender;
	 	 	 
	 	(c)	if
    a word or phrase is defined, its other grammatical forms have a corresponding meaning;

 

    	 

     

    

 

	 	(d)	the
    meaning of general words is not limited by specific examples introduced by ‘includes’, ‘including’,
    ‘for example’, ‘such as’ or similar expressions;
	 	 	 
	 	(e)	a
    reference to a document or instrument, including this agreement, includes all of its clauses, paragraphs, recitals, parts,
    schedules and annexures and includes the document or instrument as amended, varied, novated, supplemented or replaced from
    time to time;
	 	 	 
	 	(f)	a
    reference to a party is to a party to this agreement and includes the party’s successors and permitted transferees and
    assigns and if party is an individual, includes executors and personal legal representatives;
	 	 	 
	 	(g)	a
    reference to a person includes an individual, a partnership, a corporation or other corporate body, a joint venture, a firm,
    a trustee, a trust, an association (whether incorporated or not), a government and a government authority or agency;
	 	 	 
	 	(h)	no
    provision of this agreement will be construed to the disadvantage of a party merely because that party was responsible for
    the preparation of the agreement or the inclusion of the provision in the agreement;
	 	 	 
	 	(i)	unless
    otherwise stated, a reference to a statute, code or other law includes regulations and other instruments under it and consolidations,
    amendments, re-enactments or replacements of any of them;
	 	 	 
	 	(j)	all
    monetary amounts are in Australian dollars, unless otherwise stated and a reference to payment means payment in Australian
    dollars; and
	 	 	 
	 	(k)	if
    the day on or by which something must be done is not a Business Day, that thing must be done on the next Business Day.

 

	2	AGREEMENT
    TO SELL AND PURCHASE
	 	 
	2.1	Sale
    and purchase of Share

 

The
Vendor agrees to sell and the Purchaser agrees to purchase the Shares (together with the benefits, rights and entitlements attaching
to the Shares including but not limited to such assets, equipment, plant, chattels and stock in trade) free from any Encumbrances
on the terms and conditions of this Agreement.

 

	2.2	Title
    and risk

 

The
title to and risk in the Shares remains solely with the Vendors until Completion and passes to the Purchaser on and from Completion.

 

	3	DEPOSIT

 

	3.1	Deposit
    to be held by Deposit Holder

 

	 	(a)	The
    Parties acknowledge that the Purchaser has paid the Deposit to the Deposit Holder. 
	 	 	 
	 	(b)	The
    Deposit Holder must hold any part of the Deposit in its trust account until the signing of this Agreement, on which date the
    Deposit Holder will release the Deposit to the Vendor.

 

    	 

     

    

 

	3.2	Payment
    of the Deposit Authorisation

 

The
Purchaser hereby authorizes the Deposit Holder to release the Deposit to the Vendor in full upon the Purchaser providing a signed
copy of this Agreement to the Vendor or the Vendor’s legal practitioner.

 

	3.3	Payment
    of Deposit if Completion does not occur

 

If
Completion does not occur and this Agreement is terminated:

 

	 	(a)	The
    Deposit will be refunded to the Purchaser, if Completion does not occur because of a Default of the Vendor and the Purchaser
    lawfully terminates this Agreement; OR
	 	 	 
	 	(b)	The
    Vendor, if Completion does not occur because of a Default of the Purchaser and the Vendor lawfully terminates this Agreement.

 

	4	COMPLETION
	 	 
	4.1	Time
    and place of Completion

 

Completion
will take place at a time as nominated by the Vendor between 11am and 4pm on the Completion Date or any other time or place agreed
in writing by the Vendor and the Purchaser.

 

	4.2	Obligations
    of the Vendor at Completion

 

At
Completion, the Vendor must:

 

	 	(a)	Not
    withdraw any cash of Company if such monies are deposited by the Purchaser; 
	 	 	 
	 	(b)	deliver
    to the Purchaser:

 

	 	(i)	a
    signed instrument of transfer of the Shares in favour of the Purchaser that are in a form acceptable to the Holding Company,
    subject to payment of stamp duty;
	 	 	 
	 	(iii)	all
    and such original documents, information and / or materials (whether original copies or electronic copies) in so far related
    to the financial statements, records and accounts of the Holding Company and the Company since both entities were established;
    
	 	 	 
	 	(iv)	all
    and such information and documents such as know-how, trade secret and manuals of the Business as the Purchaser may reasonably
    require;
	 	 	 
	 	(v)	current
    ASIC corporate keys of the Holding Company and the Company;
	 	 	 
	 	(vi)	key
    cards and cheque books of Company including pin and passwords; 
	 	 	 
	 	(vii)	any
    other document that the Purchaser reasonably requires to obtain good title to the Shares and to enable the Purchaser to have
    the Shares noted in the Holding Company’s records as being held in the Purchaser’s name;
	 	 	 
	 	(viii)	evidence
    reasonably satisfactory to the Purchaser of releases of any Encumbrances over the Shares;
	 	 	 
	 	(ix)	a
    written resignation letter from each officerholder of both the Holding Company and the Company;

 

    	 

     

    

 

	 	(x)	completed
    and signed general authorities for the alteration of the signatories of each bank account of the Holding Company and the Company,
    to remove the Existing Director and Secretary as a signatory;
	 	 	 
	 	(xi)	the
    certificate of incorporation;
	 	 	 
	 	(xii)	minutes
    books of directors’ and shareholders’ meetings;
	 	 	 
	 	(xiii)	a
    copy of the Holding Company’s constitutions;
	 	 	 
	 	(xiv)	registers
    of members, directors, charges, and any other statutory registers, fully entered up to the date of completion;
	 	 	 
	 	(xv)	cheque
    books, deposit books, bank statements and other banking books and records;
	 	 	 
	 	(xvi)	control
    over the financial, accounting and business records, including copy taxation returns, assessments, and all other documents
    and records held by the Holding Company relating to its business, assets, liabilities and affairs;
	 	 	 
	 	(xvii)	title
    deeds and records of ownership relating to the Holding Company’s assets, including all leases, licences, authorities
    and permits in respect of the business;
	 	 	 
	 	(xviii)	insurance
    policies held by the Holding Company and the Company; 
	 	 	 
	 	(xix)	and
    all books, records, taxation returns, relating to the Company’s superannuation fund; and
	 	 	 
	 	(xx)	any
    passwords and access information; all passwords, access codes, security pin or the alike of any websites, email accounts,
    social media, software licences, CCTVs, tills- cash registers.

 

	 	(b)	ensure
    that the Holding Company and the Holding Company’s officeholders and shareholders hold duly convened meetings and resolutions
    are passed at those meetings that:

 

	 	(i)	approve
    the Holding Company recording the transfer of the Shares to the Purchaser, subject to payment of stamp duty, if applicable;
	 	 	 
	 	(ii)	approve
    the issue of a new share certificate for the Shares in the name of the Purchaser, if applicable;
	 	 	 
	 	(iii)	approve
    the cancellation of the existing share certificates in relation to the Shares, if applicable; 
	 	 	 
	 	(iv)	appoint
    as directors, secretaries and public officers of the Company the New Director as Director or Director/ Secretary of the Company
    with effect from Completion; and
	 	 	 
	 	(v)	revoke
    all existing authorities for the Existing Director and Secretary to operate the Company’s bank accounts and appoint
    the New Director as the signatory of the Company’s bank accounts.

 

	 	(c)	do
    all other acts and execute all documents that are necessary to:

 

	 	(i)	transfer
    the Shares to the Purchaser;
	 	 	 
	 	(ii)	assist
    the Purchaser to acquire ownership and access to the bank accounts of the Holding Company and the Company;

 

    	 

     

    

 

	 	(iii)	further
    remove those parties specified by the Purchaser from access to the bank accounts of the Company; and
	 	 	 
	 	(iv)	remove
    those parties specified by the Purchaser as signatory to the bank accounts of the Company.
	 	 	 
	 	(v)	complete
    any other transaction contemplated by this Agreement; and
	 	 	 
	 	(vi)	to
    place the Purchaser and New Director in effective possession and control of the Company and the Business and its Assets.

 

	4.3	Obligations
    of the Purchaser at Completion
	 	 
	 	The
    Purchaser must:

 

	 	(a)	pay
    the balance of the Purchase Price to the Vendor (or as directed by the Vendor) as per clause 5 of this Agreement:
	 	 	 
	 	(b)	at
    Completion, and subject to any other clause of this Agreement, do all other acts and execute all documents that are necessary
    to:

 

	 	(i)	transfer
    the Shares to the Purchaser;
	 	 	 
	 	(ii)	remove
    the Vendor as a guarantor under any Premises Leases;
	 	 	 
	 	(iii)	complete
    any other transaction contemplated by this Agreement; and
	 	 	 
	 	(iv)	other
    than as recorded as a post-Completion arrangement, place the Purchaser and New Director in effective possession and control
    of the Holding Company and the Business and the Holding Company’s Assets. 

 

	4.4	Simultaneous
    actions at Completion

 

At
Completion:

 

	 	(a)	the
    obligations of the parties under this Agreement are interdependent; and
	 	 	 
	 	(b)	all
    actions that must be performed are taken to have occurred simultaneously on the Completion Date but no delivery or payment
    is taken to have been made until all deliveries and payments have been made.

 

	4.5	Vendor’s
    obligations until recording of Shares

 

After
Completion and until the Shares are recorded in the name of the Purchaser, the Vendor must take all action in its capacity as
the registered holder of the Shares as the Purchaser may lawfully require from time to time.

 

	4.6	Purchaser’s
    obligation to record

 

The
Purchaser and New Director must ensure that the transfer of the Shares is recorded in the Company’s records and notified
to any relevant government department (for example the Australian Securities and Investments Commission) and as soon as practicable
after Completion.

 

	4.7	Obligations
    after Completion

 

If
title to the Shares is not effectively vested in the Purchaser at Completion:

 

	 	(a)	the
    Vendor will hold the Shares for the Purchaser until title is effectively vested in the Purchaser; and
	 	 	 
	 	(b)	all
    income, profits, rights or benefits arising in respect of the Share, the Company, or the Business on and from Completion will
    be held for the Purchaser.

 

    	 

     

    

 

	4.8	Records

 

The
Vendor may retain copies of any of the Records necessary for it to comply with any applicable law (including Tax law) and to prepare
Tax or other returns required of it by law.

 

	5	PAYMENT
    OF THE PURCHASE PRICE
	 	 
	5.1	The
    Purchase Price is the consideration for the Shares and must be paid by the Purchaser to the Vendor according to this Agreement.
	 	 
	5.2	Subject
    to satisfaction of the Condition Precedents, and provided no GST is payable in relation to this transaction, the Purchaser
    pay the Purchase Price as follow: 

 

	 	(a)	The
    Deposit (being $17,621.50), which has already been paid to the Deposit Holder;
	 	(b)	$282,378.50
    payable on the 31st March, 2019 if the Company successfully negotiates a settlement amount or progress payment
    plan with the Australian Tax Office before that date, OR on the 30th, June, 2019 if such negotiations have not
    been concluded or cannot be achieved.

 

If
the Purchaser has not used all reasonable endeavours to negotiate a settlement amount or progress payment plan with the Australian
Taxation Office as soon as reasonably practicable after Completion then all outstanding amounts of the Purchase Price must be
paid on 31 March 2019.

 

	5.3	All
    amounts owing by the Purchaser in connection with this Agreement (including, but not limited to, the Purchase Price and any
    amounts in connection with the security for the Premises) must be paid directly to the following account: 

 

Account
name: SFO Administration Pty Ltd

BSB:
013-606

A/C
No: 292936408

 

	5.4	The
    Purchaser must not make any set off, deduction or withholding from payment of any part of the Purchase Price or any other
    amount owing under this agreement.
	 	 
	5.5	In
    addition to the Purchase Price, on or before 31 March 2019 the Purchaser must pay into the same bank account referred to in
    clause 5.3 the amount of $52,433 being the amount of the security in place for the lease of the Premises.

 

	6	VENDOR’S
    WARRANTY
	 	 
	6.1	Vendors’
    warranties

 

The
Vendor’s warranties are contained in Schedule 2.

 

	6.2	Warranties
    and indemnities

 

	 	(a)	It
    is a condition of this Agreement that each warranty is true and correct in every respect and shall be construed separately.
	 	 	 
	 	(b)	The
    Vendor acknowledges that:

 

	 	(i)	The
    warranties have been given with the intention and for the purpose of inducing the Vendor to enter into this Agreement; and

 

	 	(ii)	The
    Purchaser has entered into this Agreement and agreed to the Purchase Price payable for the shares on the basis of and in full
    reliance upon the warranties.

 

    	 

     

    

 

	6.3	Damages
    and Actions

 

If
the Vendor is in breach of clause 6 of this Agreement, the Purchaser may seek any damages from the Vendor for any loss or foreseeable
loss arising from the Vendors’ actions. 

 

	6.4	Vendor
    Warranties

 

Except
as set out in this Agreement, the Vendor and Existing Director and Secretary warrants and represents to the Purchaser and New
Director to the best of the Vendor’s and Existing Director’s and Secretary’s knowledge that each Vendor Warranty
is correct in all material respects.

 

	6.5	Interpretation
    of Vendor Warranties

 

Each
Vendor Warranty is to be construed separately and the meaning of each Vendor Warranty is in no way limited by reference to any
other covenant, warranty or representation in this Agreement.

 

	6.6	Procedure
    for Claims of breaches of Vendor Warranty

 

If
the Purchaser or New Director becomes aware of a Claim or potential Claim for breach of any Vendor Warranty, the Purchaser and
New Director must use its best endeavours to mitigate any Liability that may give rise to a Claim against the Vendor or Existing
Director and Secretary for breach of a Vendor Warranty.

 

	6.7	Vendor’s
    indemnity

 

Subject
to Completion occurring, each of the Vendors must severally indemnify the Purchaser in proportion to each Vendor’s percentage
ownership of the Shares in connection with any Loss suffered or incurred by the Purchaser as a direct result of any breach of
any of the Vendor Warranties.

 

	6.8	Disclosures

 

No
Vendors Warranty is breached by reason of, and the Vendors are not liable to the Purchaser or any other person for breach of any
Vendor Warranty in respect of, any fact, matter or circumstance:

 

	 	(a)	fully
    and fairly disclosed in the due diligence materials provided to the Purchaser prior to the signing of this Agreement; 
	 	 	 
	 	(b)	disclosed
    in any publicly available information; or
	 	 	 
	 	(c)	of
    which the Purchaser was actually aware before the date of this agreement, including as a result of the Purchaser’s investigations
    of the Holding Company and the Company.

 

	6.9	No
    claims for consequential loss

 

To
the full extent permitted by law, the Vendors are not liable (whether in negligence or otherwise) to the Purchaser for any Loss
or Claim to the extent that the Loss cannot reasonably be considered to arise naturally from the breach or event, fact, matter
or circumstance giving rise to the Claim.

 

    	 

     

    

 

	6.10	Cap
    and limitation

 

	 	(a)	The
    maximum aggregate liability of the Vendors for all Claims made or brought by the Purchaser under or in connection with this
    document, or the transactions contemplated by it, is limited to an amount equal to the Purchase Price actually paid by the
    Purchaser.
	 	 	 
	 	(b)	The
    Purchaser must not make any Claim under or in connection with this document or the transactions contemplated by it, and the
    liability of the Vendors for such a Claim is absolutely barred, unless the Purchaser gives to the Vendors notice of the Claim
    setting out the fact, matter or circumstance which gives rise to the Claim, the nature of the Claim, the amount claimed and
    how the amount is calculated: 

 

	 	a.	as
    soon as reasonably practicable after the Buyer has become aware of the facts giving rise to the Claim; and
	 	 	 
	 	b.	in
    any event, on or before the date:

 

	 	i.	6
    years after Completion in respect of a tax Claim; or
	 	 	 
	 	ii.	12
    months after Completion in respect of all other Claims.

 

	7	PURCHASER
    WARRANTIES
	 	 
	7.1	Purchaser
    Warranties

 

The
Purchaser and the New Director represents and warrants to the Vendor and Existing Director and Secretary that each Purchaser Warranty,
including those contained in Schedule 3 is true, accurate and not misleading or deceptive or likely to mislead or deceive in any
respect on the date of this Agreement and at Completion.

 

	7.2	Application
    of Purchaser Warranties

 

The
Purchaser and the New Director acknowledges and agrees that each Purchaser Warranty is given as at the date of this Agreement
and as at Completion, except where a Purchaser Warranty is expressed to be given as at a specific date and then that Purchaser
Warranty is given as at that date only.

 

	7.3	Interpretation
    of Purchaser Warranties

 

Each
Purchaser Warranty is to be construed separately and the meaning of each Purchaser Warranty given by the Purchaser and the New
Director is in no way limited by reference to any other covenant, warranty or representation in this Agreement.

 

	7.4	Purchaser’s
    indemnity

 

The
Purchaser and the New Director indemnifies the Vendor and Existing Director and Secretary in relation to any Claim against the
Vendor or Existing Director and for any Liability suffered by the Vendor or Existing Director arising from or in connection with
any breach of a Purchaser Warranty arising from Completion Date.

 

	7.5	Continuing
    obligation

 

The
indemnity in clause 7.4 is a continuing obligation.

 

    	 

     

    

 

	8	CONFIDENTIALITY
	 	 
	8.1	Obligation
    of confidence

 

The
Receiving Party must:

 

	 	(a)	maintain
    the confidential nature of the Confidential Information;
	 	 	 
	 	(b)	only
    disclose Confidential Information;

 

	 	(i)	to
    an Authorised Person where the Authorised Person has a need to know and after the Receiving Party has made the Authorised
    Person fully aware of the confidential nature of the Confidential Information;
	 	 	 
	 	(ii)	with
    the prior written consent of the Disclosing Party; or
	 	 	 
	 	(iii)	as
    required by law provided that the Receiving Party must give the Disclosing Party reasonable prior notice of the proposed disclosure;

 

	 	(c)	not
    use the Confidential Information for the Receiving Party’s own or another’s advantage, or to the competitive disadvantage
    of the Disclosing Party; and
	 	 	 
	 	(d)	not
    copy or duplicate or allow the copying or duplication of any Confidential Information.

 

	8.2	Security
    and control

 

The
Receiving Party must:

 

	 	(a)	take
    all reasonable proper and effective precautions to maintain the confidential nature of the Confidential Information; and
	 	 	 
	 	(b)	immediately
    notify the Disclosing Party of any potential, suspected or actual unauthorised access, disclosure, copying or use or breach
    of this clause 8.

 

	8.3	Return
    and destruction

 

If
requested to do so by the Disclosing Party, the Receiving Party must immediately cease all use of the Confidential Information
and must, at its own expense:

 

	 	(a)	return
    to the Disclosing Party or destroy, as the Disclosing Party directs, all documents or materials of any kind containing Confidential
    Information, whether prepared by the Receiving Party or for the Receiving Party as is in the possession, power or control
    of the Receiving Party or the Receiving Party’s Authorised Persons; and
	 	 	 
	 	(b)	provide
    to the Disclosing Party a statutory declaration duly executed by the Receiving Party confirming that the Receiving Party has
    complied with all of its obligations under this clause 8.

 

	8.4	No
    release

 

The
return or destruction of documents or materials containing Confidential Information under clause 8.3 does not release the Receiving
Party from its obligations of confidence under this clause 8.

 

	8.5	Use
    and disclosure of Business related Confidential Information 

 

On
and from Completion, all Confidential Information relating to the Business will be deemed to be the Confidential Information of
the Purchaser and Continuing Director for the purposes of this Agreement. The provisions of this Agreement will then apply to
that Confidential Information as though the Confidential Information were disclosed by the Purchaser and Continuing Director to
the Vendor and Existing Director.

 

    	 

     

    

 

	9	PUBLICITY
    AND PUBLIC ANNOUNCEMENTS

 

A
party must not make or authorise the making of any press release or other public announcement relating to the negotiations of
the parties, the subject matter of this Agreement or any of the transactions contemplated by this Agreement unless:

 

	 	(a)	it
    has the prior written approval of the other party; or
	 	 	 
	 	(b)	the
    release or announcement is required to be made by law or the rules of a securities exchange, in which case, the party making
    the release or announcement must give the other party a reasonable opportunity to comment on the contents of the release or
    announcement before its release.

 

Following
Completion, the Vendor and the Purchaser, if requested by the other, work in good faith to prepare a joint statement that may
be issued to any third party by the other, regarding the change in control of the Company.

 

	10	GST
	 	 
	10.1	Interpretation

 

Words
and expressions used in this Agreement which are defined in the GST Act have the same meanings given to them in the GST Act.

 

	10.2	Consideration
    does not include GST

 

The
consideration for any supply made under or in connection with this Agreement does not include an amount for GST, unless it is
expressly stated in this Agreement to be inclusive of GST.

 

	10.3	Recovery
    of GST

 

If
GST is or becomes payable on any supply made under or in connection with this Agreement the party required to provide the consideration
for the supply (which in this transaction would be the Purchaser) must pay, in addition to and at the same time as the consideration
is provided, an amount equal to the amount of GST on the supply.

 

	10.4	Adjustment
    of amount recovered for GST

 

If
the amount for GST recovered by a party under clause 10.3 differs from the amount of GST payable by the party or its representative
member on the supply, the amount of the difference must be paid to or refunded by the party (as the case requires).

 

	10.5	Reimbursement
    or indemnity payments

 

If
a party is required under this Agreement to reimburse or indemnify another party for any amount incurred by the other party, the
amount to be reimbursed or paid by the party will be the amount incurred reduced by an amount equal to any input tax credit that
the other party or its representative member is entitled to claim for the amount incurred and increased by the amount of any GST
payable in respect of the reimbursement or payment.

 

	10.6	Tax
    invoice

 

The
party making a taxable supply under or in connection with this Agreement will issue a tax invoice for the supply when the amount
of GST on the supply is received.

 

	10.7	No
    merger

 

The
rights and obligations of the parties under this clause 10 do not merge on completion or termination of this Agreement.

 

    	 

     

    

 

	11	METHOD
    OF PAYMENT

 

Any
payment to be made under this Agreement must be made by electronic bank transfer or way of a bank cheque, as directed by the Vendor
in clause 5.3.

 

	12	DEFAULT
	 	 
	12.1	Default

 

In
the event of default by a party to this Agreement, the non-defaulting party may seek, in addition to any other legal remedy available:

 

	 	(i)	damages;
    or
	 	 	 
	 	(ii)	specific
    performance; or
	 	 	 
	 	(iii)	damages
    and specific performance.

 

	13	COSTS
    AND DUTY
	 	 
	13.1	Costs

 

Except
as otherwise stated in this Agreement, each party must pay its own costs of negotiating, preparing and executing this Agreement
and performing its obligations under this Agreement.

 

	13.2	Purchaser
    to pay duty

 

The
Purchaser must pay all stamp duty, duties and other taxes of a similar kind (including penalties, interest and fines) that are
payable on, or relating to, the execution of this Agreement and on, or relating to, any instrument signed under this Agreement
or any transaction contemplated by this Agreement.

 

	14	REMEDIES
    AND DEFAULT
	 	 
	14.1	Each
    party to this Agreement acknowledges and agrees that if any of them breach the warranties, representations, indemnities, covenants,
    agreements, undertakings and obligations, for the purposes of this clause referred to as the agreed terms, on each of their
    parts contained in this Agreement, damages may not be an adequate remedy and the agreed terms will be enforceable by injunction,
    order for specific performance or such other equitable relief as a court of competent jurisdiction may see fit.
	 	 
	14.2	If
    the Purchaser fails to pay the Purchase Price or otherwise fails to comply with any of the terms of this Agreement then the
    Vendor, in addition to any other rights which may be conferred upon the Vendor at law and/or at equity, may:

 

	 	(a)	Affirm
    this Agreement and sue the Purchaser for damages for breach; or
	 	(b)	Affirm
    this Agreement and sue the Purchaser for specific performance and damages in addition to or in lieu thereof; or
	 	(c)	Terminate
    this Agreement and elect to:

 

	 	(i)	claim
    its rights to the Deposit and the Purchaser hereby authorizes the Deposit  Holder to release the Deposit to the
    Vendor upon request from the Vendor;
	 	(ii)	sue
    the Purchaser for damages for breach;
	 	(iii)	claim
    any costs and outlays associated with the breach as a liquidated  damages; and
	 	(iv)	do
    all or any of the foregoing.

 

    	 

     

    

 

	14.3	If
    the Vendor is in breach of an essential term of this Agreement, then the Purchaser, in addition to any other rights which
    may be conferred upon the Purchaser at law and/or at equity, may:

 

	 	(a)	Terminate
    this Agreement by written notice to Vendor; 
	 	 	 
	 	(b)	Direct
    the Deposit Holder to refund the Deposit in full to the Purchaser; and
	 	 	 
	 	(c)	Claim
    and recover any costs and outlays associated with the essential breach from the Vendor as liquidated damages. 

 

	15	NOTICES
	 	 
	15.1	General

 

Unless
this Agreement expressly states otherwise, any Notice, consent, approval, waiver or other communication (notice) in connection
with this Agreement must be in writing and signed by the sender or a person authorised by the sender. A Notice may be given by
hand delivery, prepaid post, facsimile transmission or by electronic communication to the recipient’s current address for
service for Notices as set out in this Agreement or as amended by Notice from time to time, or to that party’s solicitor.

 

	15.2	When
    effective

 

A
Notice given under clause 15.1 will be deemed to be received:

 

	 	(a)	if
    hand delivered, at the time of delivery;
	 	 	 
	 	(b)	if
    sent by regular prepaid post, five Business Days after the date of posting if posted to or from a place within Australia;
	 	 	 
	 	(c)	if
    sent by express post, the next Business Day after the date of posting if posted to or from a place within Australia;
	 	 	 
	 	(d)	eight
    Business Days after the date of posting if posted to or from a place outside Australia;
	 	 	 
	 	(e)	if
    sent by facsimile transmission, when the sender’s fax machine produces a report confirming the successful transmission
    of the entire Notice including the relevant number of pages and the correct destination fax machine number or name of recipient;
    or
	 	 	 
	 	(f)	if
    sent as an electronic communication, when the electronic communication is recorded as being sent by the device from which
    the sender sent that electronic communication, unless the sender knows or could reasonably be expected to know that an electronic
    communication system has failed and as a result, the electronic communication was not received,

 

unless
a Notice is received after 5.00 pm on a Business Day in the place of receipt or at any time on a non-Business Day, in which case,
that Notice is deemed to have been received at 9.00 am on the next Business Day.

 

	15.3	Addresses
    for Notices

 

Any
Notice given in connection with this Agreement must be given to the address set out at the commencement of this Agreement or to
any other address as that party may notify to the other party.

 

	16	ASSIGNMENT

 

A
party must not assign or otherwise deal with any of its rights, interests or obligations under this Agreement without the prior
written consent of the other party, which must not be unreasonably withheld.

 

    	 

     

    

 

	17	AMENDMENT

 

This
Agreement may only be amended or varied by a document in writing signed by each party.

 

	18	WAIVER
	 	 
	18.1	No
    waiver

 

No
failure to exercise or delay in exercising any right given by or under this Agreement to a party constitutes a waiver and the
party may still exercise that right in the future. No single or partial exercise of any right precludes any other or further exercise
of that or any other right.

 

	18.2	Waiver
    must be in writing

 

Any
waiver of any provision of this Agreement or a right created under it must be in writing signed by the party giving the waiver
and is only effective to the extent set out in that written waiver.

 

	19	COUNTERPARTS
    AND ELECTRONIC EXECUTION CLAUSE

 

This
Agreement may be signed in any number of counterparts. Counterparts may be exchanged by electronic transmission (including by
e-mail) and all of those counterparts taken together constitute one and the same instrument. Any party may enter into this Agreement
by signing any counterpart. This Agreement is binding on the parties immediately upon the exchange of executed counterparts. A
copy of an original executed counterpart sent by facsimile or by e-mail transmission:

 

	 	(a)	must
    be treated as an original counterpart;
	 	 	 
	 	(b)	is
    sufficient evidence of the execution of the original; and
	 	 	 
	 	(c)	may
    be produced in evidence of all purposes in place of the original.

 

	20	SEVERABILITY

 

If
any provision of this Agreement is void, voidable by a party, unenforceable, invalid or illegal and would not be so if a word
or words were omitted, then that word or those words are to be severed and if this cannot be done, the entire provision is to
be severed from this Agreement without affecting the validity or enforceability of the remaining provisions of this Agreement.

 

	21	NO
    MERGER

 

On
Completion or termination of the transactions contemplated by this Agreement, the rights, interests and obligations of the parties
set out in this Agreement will not merge and any provision that has not been fulfilled remains in force.

 

	22	FURTHER
    STEPS

 

Each
party agrees to promptly do all things reasonably necessary to give full effect to this Agreement and the transactions contemplated
by it, including obtaining consents and signing documents.

 

	23	TIME
    OF THE ESSENCE

 

Time
is of the essence in this Agreement.

 

    	 

     

    

 

	24	ENTIRE
    AGREEMENT

 

This
Agreement constitutes the entire agreement between the parties about its subject matter and supersedes all previous communications,
representations, understandings or agreements between the parties on the subject matter.

 

	25	GOVERNING
    LAW AND JURISDICTION
	 	 
	25.1	Governing
    law

 

This
Agreement is governed by the laws in force in Victoria, Australia.

 

	25.2	Jurisdiction

 

The
parties submit to the exclusive jurisdiction of any courts of competent jurisdiction in the state of Victoria and any courts that
may hear appeals from those courts about any proceedings in connection with this Agreement.

 

	26	RESTRAINT

 

	26.1
    	In
    consideration of the Purchaser and the New Director entering into this Agreement with substantial consideration and in order
    to reasonably protect the goodwill of the Business from Completion, both the Vendor and the Existing Director and Secretary
    agree in favour of the Purchaser, the New Director and Company that:

 

	 	(a)	without
    prior written consent of the Purchaser and the New Director, neither the Existing Director and Secretary nor the Vendor will,
    for the period from the date of Completion, either directly or indirectly:-

 

	 	-	induce
    or solicit any person that has been an employee or agent of the Business at any time from Agreement date until 2 years after
    Completion to leave the employment or agency of the Company;
	 	 	 
	 	-	approach
    or accept an approach from any person that has been a client or customer of the Business of the Company at any time until
    2 years after Completion with a view to soliciting or obtaining the business of that customer or client for the Vendor, Existing
    Director and Secretary or any other person if such business would be in any way similar to the business carried on by the
    Company;
	 	 	 
	 	-	carry
    on or be financially or otherwise interested in, whether solely or jointly with or as partner, associate, agent, shareholder,
    unit holder or corporation, or be or become engaged in or concerned with in any capacity whatever, any business which does
    or attempts to do any of the above actions;
	 	 	 
	 	-	Conduct
    business of a similar type either in a physical premises or online for a period of 3 years after Completion;
	 	 	 
	 	-	Working
    as a subcontractor or consultant to any business (‘Competing business’) that is in competition with the Company
    for a period of 24 months after Completion. 

 

	26.2	The
    parties agree that each separate covenant and restraint in this clause is reasonable and that valuable consideration has been
    received both directly and indirectly by the parties to be restrained by these covenants and that each party affected by this
    clause has been responsible for and approves its drafting.
	 	 
	26.3	The
    parties agree that the words ‘directly or indirectly’ shall be given the widest possible interpretation and shall
    include (without derogation from their generality) management without salary, advising or influencing a competitive business
    on a continuing basis whether from direct remuneration or benefit or otherwise, or establishing or being interested in or
    influencing a competitive business through any association or arrangement with any person, relative, nominee or trust in or
    over which any interest or influence (absolute or partial) is held.
	 	 
	26.4	The
    parties agree that the restraint contained in this clause 26 does not apply to the Vendor and the Existing Director and Secretary
    in relation to any work as a compliance consultant.

 

    	 

     

    

 

	27	Intellectual
    Property
	 	 
	27.1	As
    soon as practicable following Completion, the Purchaser and New Director must do all things and sign all forms necessary to
    transfer all Intellectual Property and the Company’s interest in the following to the Purchaser: 

 

	 	●	PO
    Box;
	 	●	Phone
    line;
	 	●	Mobile
    Number;
	 	●	Social
    Media accounts;
	 	●	Domain
    Name:
	 	●	Email
        Accounts.

        

 

	27.2	If
    the Existing Director and Secretary receives any mail/communication to the PO Box then the Existing Director and Secretary
    agrees to promptly forward the same onto the Company and the New Director.
	 	 
	28	DISTRIBUTION
    TO THE VENDOR 

 

The
Vendor agrees that the transfer of the Shares includes a transfer of any unpaid dividend or entitlements in relation to the Shares.

 

	29	PARTY
    AS TRUSTEE 
	 	 
	29.1	This
    clause applies if any party (in this clause each of whom is referred to as the “Trustee”):

 

	 	(a)	has
    entered or in the future enters into this Agreement in the capacity of trustee; or
	 	 	 
	 	(b)	owes
    all or any part of the Purchase Price or any other monies in the capacity of trustee,

 

of
any trust or for any person (all or any of which trusts are referred to in this clause as the “Trust”), and whether
or not the other parties have notice of the Trust.

 

	29.2	The
    Trustee agrees that even though the Trustee enters into this Agreement as trustee of the Trust, the Trustee also shall be
    liable personally for the performance and observance of every covenant and obligation to be observed and performed by them
    expressed or implied in this Agreement.
	 	 
	29.3	The
    Trustee warrants its complete, valid and unfettered power to enter into this Agreement pursuant to the provisions of the Trust
    including power to enter into the covenants and obligations to be observed and performed by the Trustee expressed or implied
    in this Agreement and warrants that its entry into this Agreement is in the due administration of the Trust.

 

    	 

     

    

 

SCHEDULE
1 – COMPANY DETAILS

 

	1	Holding
    Company

 

	Name
    and ACN:	 	WORKSTAR
    TECHNOLOGIES PTY LTD ACN 619 588 840
	Place
    and date of incorporation:	 	Victoria,
    7 June 2017
	Registered
    office:	 	Level
    5, 570 St Kilda Road, Melbourne, Victoria, Australia, 3004
	Issued
                                         share capital:

         
	 	114
                                         Ordinary Shares: 57 owned by SFO Enterprises Pty Ltd ATF SFO Enterprises Trust AND 57
                                         owned by First Names (Singapore) Pte Ltd

        6
        “B” Class Shares: All owned by Shaffier Pty Ltd

 

	2.	Company

 

	Name
    and ACN:	 	Workstar
    Tech (Aust) Pty Ltd ACN 619 867 613
	Place
    and date of incorporation:	 	Victoria,
    
	Registered
    office:	 	Level
    5, 570 St Kilda Road, Melbourne, Victoria, Australia, 3004
	Issued
                                         share capital:

         
	 	20
    Ordinary Shares: All owned by Workstar Technologies Pty Ltd

 

    	 

     

    

 

SCHEDULE
2 - VENDOR WARRANTIES

 

	A.	Vendor’s
    capacity and title to Share

 

	 	(a)	The
    Vendors have full title, capacity and authority to enter into this Agreement and to sell the Shares included in the sale.
	 	(b)	Each
    Vendor:

 

	 	(i)
    	has
    not committed any act of bankruptcy;
	 	(ii)	has
    not been served with a bankruptcy notice or bankruptcy petition;
	 	(iii)	is
    not bankrupt;
	 	(iv)	has
    not entered into any arrangement or composition with creditors.

 

	 	(c)
    	The
    Vendors are the beneficial owner of the Shares included in the sale and have, and will at the time of completion have, absolute
    title to those Share.
	 	(d)	The
    Shares included in the sale are not, and will not be on completion, subject to any mortgage, charge, encumbrance, or other
    liability which would attach to the Shares or bind the Purchaser.
	 	(e)	The
    Vendors are not involved in, or aware of, any current or threatened civil or criminal proceedings, arbitration or dispute,
    relating to the Shares included in the sale.
	 	(f)	The
    Vendors are not aware of any unsatisfied judgments, orders or writs of execution against a Vendor or affecting the Shares
    included in the state.

 

	B.	Company’s
    corporate status

 

	 	(a)	The
    Holding Company is incorporated in Victoria, Australia under the Corporations Law and carries on business in Australia.
	 	(b)	The
    Holding Company and the Company have not received:

 

	 	(i)
    	any
    notice, summons or order for winding up;
	 	(ii)	any
    notice or order for the appointment of a receiver or other controller or administrator.

 

	 	(c)	The
    Holding Company and the Company are not aware of any unsatisfied judgments, orders or writs of execution against the Holding
    Company or the Company or affecting their respective business, assets or affairs.
	 	(d)	The
    Company:

 

	 	(i)
    	has
    no subsidiaries;
	 	(ii)
    	is
    not the member of any partnership or joint venture; 
	 	(iii)
    	is
    not a trustee.

 

	 	(e)	Apart
    from the Shares held by the Vendors:

 

	 	(i)	no
    Shares or other interests in the share capital of the Company have been issued or allotted, or agreed to be issued or allotted;
    and
	 	(ii)	there
    is no currently effective resolution, agreement or proposal to allot any additional Share, options or other pre-emptive rights
    to Shares or other interests in the share capital of the Holding Company (or the Company).

 

	 	(f)	All
    Company registers contain accurate records.
	 	(g)	The
    Holding Company and the Company have lodged with the Australian Securities Commission all returns, particulars, resolutions
    and documents which are relevant to and indicate the position relating to the Company at the date of this Agreement and the
    information contained in those returns and documents is accurate and complete.

 

	C.
    	Real
    property
	 	 
	 	The
    Company does not own any real property.
	 	 
	D.	Intellectual
    property
	 	 
	 	????
	 	 
	E.
    	Insurances

 

	 	(a)	The
    Company holds insurance policies particulars of which have been provided to the Purchaser on or before the Completion Date
    (called “insurance policies”). 
	 	(b)	The
    Vendor is unaware of any of the insurance policies being subject to unusual terms or restrictions or that the premium is at
    a rate exceeding normal rates charged by the particular insurer for those types of policies and risks.
	 	(c)	The
    Vendor is unaware of there being any claim outstanding under any of the insurance policies at the date of this Agreement or
    of any circumstances which are likely to give rise to any claim.
	 	(d)	No
    act, omission or circumstance has occurred which would render any of the insurance policies void or voidable, or entitle the
    insurer to cancel a policy or to refuse a claim.

 

    	 

     

    

 

SCHEDULE
3 - PURCHASER WARRANTIES

 

	1	Purchaser’s
    standing and authority
	 	 
	1.1	Purchaser

 

The
Purchaser and the New Director have full legal capacity and power to enter into this Agreement and to carry out the transactions
that this Agreement contemplates.

 

	1.2	No
    conflict

 

The
execution, delivery and performance of this Agreement and all other documents contemplated by this Agreement by the Purchaser
and the New Director:

 

	 	(a)	constitute
    legal, valid and binding obligations of the Purchaser and the New Director enforceable in accordance with the relevant document’s
    terms and conditions; and
	 	 	 
	 	(b)	do
    not result in a breach of, or a default under, the Purchaser’s constitution, trust deed or other constituent documents
    of the Purchaser or the New Director.

 

	1.3	No
    Insolvency Event

 

The
Purchaser and the New Director is not subject to a current or threatened Insolvency Event and there are no facts, matters or circumstances
that are reasonably likely to give rise to the occurrence of any Insolvency Event in relation to the Purchaser or the New Director.

 

    	 

     

    

 

	EXECUTION
    	 
	 	 
	EXECUTED
    by SFO ENTERPRISES PTY LTD ATF SFO ENTERPRISES TRUST ACN 603 266 333 by its duly authorised representative:	 
	 	 
	 	 
	Signature
    of Authorised Representative	 
	 	 
	 	 
	Name
    of Authorised Representative	 
	 	 
	 	 
	Signature
    of Witness	 
	 	 
	 	 
	Name
    of Witness	 
	 	 
	EXECUTED
    by FIRST NAMES (SINGAPORE) PTE LTD	 
	ORG
    NO.: 614 781 154 by its duly authorised representative:	 
	 	 
	 	 
	Signature
    of Authorised Representative	 
	 	 
	 	 
	Name
    of Authorised Representative	 
	 	 
	 	 
	Signature
    of Witness	 
	 	 
	 	 
	Name
    of Witness	 

 

    	 

     

    

 

	EXECUTED
    by SHAFFIER PTY LTD	 
	ACN
    607 485 692 by its duly authorised representative:	 
	 	 
	 	 
	Signature
    of Authorised Representative	 
	 	 
	 	 
	Name
    of Authorised Representative	 
	 	 
	 	 
	Signature
    of Witness	 
	 	 
	 	 
	Name
    of Witness	 
	 	 
	EXECUTED
    by ANVIA (AUSTRALIA) PTY LTD ACN 605 782 849	 
	in
    accordance with s127 of the Corporations Act 2001 (Cth) 	 
	by
    being signed by the following officers:	 

 

	/s/ JAMES
    KENNETT	 
	Signature
    of Director	 
	 	 
	JAMES KENNETT	 
	 	 
	/s/ JAMES
    TWENTYMAN	 
	Signature of Witness	 
	 	 
	JAMES
    TWENTYMAN	 
	Name of Witness (please print)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]