Document:

cmbg_ex24.htm

Exhibit 10.25

 

Entrustment Contract on Listing on a U.S. Stock Market

Contract No.: ______

 

Trustor:  _________ (hereinafter Party A), a company registered in ________, USA.

 

Legal address of Party A: _______________________________________________.

 

Trustee: EastBridge Investment Group Corporation (hereinafter Party B), a company registered in Arizona, USA

Legal address of Party B: 8040 E. Morgan Trail, Unit 18, Scottsdale, Arizona, 85258

 

Article 1 Entrusted Matters

Party A entrusts Party B to assist Party A to become directly listed on a U.S. stock market.  First Party B will introduce Party A to registered financial resources which will assist Party B in raising up to $________ in capital on a best-efforts basis.  Second, Party B will assist Party A to obtain listing on OTCBB and/or OTCQB markets after receiving approval from the U.S. Securities and Exchange Commission (SEC).

 

Article 2 Power and Preconditions for Dealing with Entrusted Matters

 

1.  Party A is responsible to conduct all legal and other necessary tasks related to their capital raise.

2. Party B is responsible to assist Party A to conduct all legal and necessary tasks related to the listing process, and acting as Party A's agent, Party B will assist Party A to complete relevant SEC procedures; and to get Party A listed on a U.S. stock market by conforming to U.S. laws and relevant provisions as stipulated by the SEC.

3. Before Party B handles the entrusted matters stated in Article 1 of the Contract, Party A shall meet the following preconditions:

	
●  

	
Party A shall provide Party B with the financial reports prepared by its registered accountant for the fiscal years of 2011 and 2012.

	
●  

	
Party A agrees to submit to Party B a quarterly financial report (annual financial report in the fourth quarter) prepared by the local registered accountant for each quarter of the current fiscal year.

	
●  

	
Party A must supply the necessary business documents (business plan, financial statements, power point presentations, etc) to Party B and allow Party B to provide these documents to its financial resources. Of course, the required non-disclosure agreements will be executed by all parties before such business documents are supplied to the financial resources.

 

  

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Article 3 Conditions for Term of Entrustment

Party B promises that if Party A satisfies the preconditions, it will introduce Party A to qualified financial resources that may complete Party A’s capital raise (a minimum raise of $_________, up to $_________, on a best-efforts basis. The terms and conditions for the capital raise are entirely between Party A and qualified parties. If party A satisfies the following conditions, the listing process will begin within twelve (12) months after Party A is successfully audited by a SEC auditor and the audit report has been issued. Party A’s delay of any of the following conditions will delay the timing of the listing processes.

1) Party A must successfully complete the financial auditing for the fiscal years of 2011 and 2012 subject to the SEC regulations and the auditing standards shall be subject to the GAAP and GAAS accounting standards of the SEC.

2) There is no major lawsuit, scandal or other intangible negative asset for Party A;

3) Party A will complete/revise the enterprise business plans within 90 days as of the date of this Contract as recommended by Party B.

Article 4 Party A’s and Party B’s Expenses

1) Party A will bear any expenses relating to their capital raise.

2) Party B agrees to bear reasonable and customary expenses relating to Party A's listing process. Examples of such potential expenses are:

A) Listing legal fees and consultant fees;

B) Equity planning and consultant fees;

C) Two years (2011 and 2012) of auditing fees subject to SEC regulations;

D) SEC applications fees, road show fees (Party A will bear its own travel fees) and investor relations fees before and after listing for a period of 6 months;

E) Listing sponsor fees, stock printing fees and registration fees

 

Article 5 Laws of the United States

Party A and Party B agree to abide by the laws of the United States throughout the capital raise and listing processes.

 

Article 6 Entrustment Fees and Terms of Payment

Party A agrees the shareholders’ equity share of Party A (____________) will be as follows: Party A and its related parties will own ____% of the equity ownership of the total Company.

Party B shall receive shares of the Company (Party A and any related parties) equaling ____% ownership of the total company, subject to proportionate dilutions due to new capital infusion before listing. Party B will receive the stock certificate for its ____% equity ownership in ________ thirty (30) days after the SEC audit is completed and before the initial registration statement is filed with the SEC.

 

The total entrustment fee is $______ (USD) in cash paid to Party B as follows: $________ to start the audit; $________ three days before filing of the initial registration statement with the SEC, then $________ paid when _________’s registration statement becomes effective with the SEC and then the final $____________ after listing on an OTC market. It is understood that Party B has the right to stop the listing work at its own discretion in anticipation of any payment issue.

 

Article 7 Purchase and Sale of Stocks

After Party A is listed with approval from the applicable state and federal regulatory bodies, such as the SEC and FINRA, Party A, and Party B may, meeting legal requirements, freely circulate, purchase and sell Party A’s stocks that they hold by any means and at any place.

  

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Article 8 Incapability of Listing

After the Entrustment Contract goes into effect:

1) If the audit report cannot be commenced or completed or the listing process cannot be completed as scheduled due to issues beyond the control of Party B, then Party A agrees that Party B does not need to return the paid entrustment fees, and such amount will be used as compensation to pay for Party B’s expenses;

2) If Party A cannot be successfully listed on a U.S. stock market due to issues controlled by Party B, then Party B shall return the monies paid by Party A within thirty days from receipt of a written notice from Party A;

3) If listing process is stopped or abandoned for any reason then Party A will not be allowed to list on any stock market in the world for three years after cancellation of this agreement.  If this promise is breached, then Party B shall receive compensation from Party A for any expenses incurred during the listing process plus the profits Party B would normally profit from the gain of selling the 8% equity shares into the market at a share price that is averaged over a three month period after Party A’s initial trading.

4) Party A agrees that a written notice to request to stop the listing process will be given to Party B at least 30 days prior to the actual cancellation of this agreement.

 

Article 9 Consent to Invitation

Prior to the completion of the listing processes, Party A will invite Party B to key senior management meetings and conferences to keep Party B informed of significant company strategies, decisions and results.  This is necessary in order for Party B to introduce Party A to appropriate financial resources.

 

Article 10 Confidentiality

Party A and Party B are responsible to keep commercially sensitive information confidential and shall not disclose such information to a third party unless agreed by both Party A and Party B. However, since Party B is a publically listed company, it has the right and obligation to file a public report to the SEC or other U.S. government agencies.

In case of significant changes within the company, Party A shall keep Party B informed of the changes.

 

Article 11 Governing Laws

The performance and interpretation of the Contract shall be governed by the laws of the United States of America, State of New York and the State of Arizona.

 

Article 12 Settlement of Disputes

All disputes and controversies relating to or arising out of the performance of the Contract shall be firstly settled by the Party A and Party B through friendly consultation. If the dispute or controversy cannot be settled through consultation within thirty days as of the date of occurrence of the same, any party may submit the dispute to a U.S. Arbitration Center to be arbitrated according to then applicable arbitration rules of the American Arbitration Association (hereinafter known as the AAA).  Arbitration award shall be final and binding on both parties.

  

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Article 13 Entire Agreement

The Contract is the final and entire contract of Party A and Party B, and shall supersede all previous oral or written agreement between both parties.

 

Article 14 Miscellaneous

If the Contract is in several language versions, and there is any discrepancy or dispute in such versions, the English version shall prevail.

 

Article 15 Effect, Expiration and Revision of the Contract

The Contract shall come into effect upon signing by both parties. For the matters unmentioned herein, both parties may make revisions and provide supplements to the Contract in writing. And the revised contract and supplementary contract concerning the Contract upon signature and seal by both parties shall constitute an integral part of the Contract, and shall have the same effect with the Contract.

 

Article 16 The Contract has four copies, with each party holding two copies respectively in the same effect.

 

Article 17 Effective date of this Agreement

 

Notwithstanding anything to the contrary stated hereinabove, this Agreement shall not be binding upon the parties and neither party shall have any obligation to the other until such time that (a) Party B introduces investors to Party A who complete a funding to Party A in a minimum amount of $1,000,000 and Party A receives the net proceeds of that funding and (b) Party A elects at its sole discretion to begin the listing process. Upon completion of the conditions hereinbefore set forth in clause (a) of this Article 17, this Agreement shall become effective and the foregoing terms set forth herein shall be binding upon the parties. Until this Agreement becomes effective as provided for in this Article 17, this Agreement and its terms shall not be exclusive as to the relationship between the parties and Party A may deal with any third party it chooses with respect to raising capital and listing its common stock on any exchange or market. In the event that the conditions set forth in clauses (a) of this Article 17 are not met on or before 18 months from the date of the execution of this Agreement, this Agreement shall be null and void and neither party shall have any further obligation to the other.

 

 

 

 

Signature Page follows

 

  

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	Party A (signature): 	 	 	
Party B (signature): EastBridge Investment Group Corporation.

	 	 	 	 
	 	 	 	Norman P. Klein: COO/CFO
	 	 	 
	 Date: 	 	 	Date:   	 	 
	 	 	 
	 	 	 

 

Page 5 of 5cmbg_ex26.htm

Exhibit 10.26

 

SECURITIES PURCHASE AGREEMENT

 

 

Dated as of December 17, 2012

 

 

by and between

 

 

  Eastbridge Investment Group Corp.

 

 

and

 

 

Zhang, Hui

 

 

and

 

 

MA Platform, Inc.

 

 

 

 

  

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SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated December 17, 2012 (the “Execution Date”), is signed by and between Eastbridge Investment Group Corp. (the “Seller”), Zhang, Hui (“Mr. Zhang”) and MA Platform, Inc. (the “Purchaser”).  The parties hereto agree as follows:

 

I. Purchase and Sale of Shares

 

1. Purchase and Sale of Stock.

 

Subject to the following terms and conditions of this Agreement, the Seller shall sell to the Purchaser 1,424,129 Ordinary Shares of Tsingda eEDU Corporation, a Cayman Islands company (the “Company”) with a par value of US$0.000384 per share (“Ordinary Shares”) (such Ordinary Shares being purchased under this Agreement, the “Purchased Shares”), at a price of US$2.3 per share for an aggregate purchase price of US$3,275,496.70 (the “Purchase Price”).

 

II. Purchase Price and Closing

 

2. Purchase Price and Closing.

 

	
2.1.  

	
Within five (5) days after the Execution Date, the Purchaser shall pay 20% of the Purchase Price (i.e., US$655,099.34) to the Seller, without offset or deduction of any kind, by wire transfer of immediately available funds in U.S. dollars to the following bank account of the Seller (the “Seller’s Bank Account”):

 

Account Name:                              EastBridge Investment Group Corporation

 

Intermediary Bank:                                        Wells Fargo Bank

 

Intermediary Bank SWIFT Code:                                                             WFBiUS6S

 

Final beneficiary bank: Mutual of Omaha Bank

 

Final beneficiary Account Number: 005 850 5455 at Mutual of Omaha Bank

 

Final beneficiary US Routing Number: 122 105 757

 

	
2.2.  

	
At the closing of the sale and purchase of the Purchased Shares (the “Closing”), the Seller shall (i) deliver any and all necessary and appropriate documents or certificates certifying the transfer of the Purchased Shares to the Purchaser, and the parties hereto shall cause the Company to register the Purchased Shares in the name of the Purchaser, and (ii) deliver to the Purchaser and the Company any and all necessary and appropriate documents or certificates to effect the resignation of the following members of the board of directors of the Company immediately effective upon Closing: Norman P. Klein and David Bolocan (the “Outgoing Directors”). Upon written confirmation to the Purchaser’s satisfaction that the Purchased Shares have been registered in the name of the Purchaser and that the Outgoing Directors have resigned, the Purchaser shall immediately pay the remaining 80% of the Purchase Price (i.e., US$2,620,397.36) to the Seller, without offset or deduction of any kind, by wire transfer of immediately available funds in U.S. dollars to the Seller’s Bank Account.

 

  

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III. Representations and Warranties of the Seller

 

3. Representations and Warranties of the Seller.

 

The Seller hereby represents and warrants to the Purchaser as follows as of the Execution Date and the date of the Closing (the “Closing Date”):

 

	3.1  	The Seller has the requisite power and authority to enter into and perform this Agreement.  The Agreement when executed and delivered by parties hereto shall constitute a legal, valid and binding obligation of the, enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws and equitable principles relating to or limiting creditor’s rights generally. The execution, delivery and performance of this Agreement by the Seller and the consummation by the Seller of the transactions contemplated herein or relating hereto do not and will not result in a violation of applicable laws or a violation of any provision of the memorandum of association or articles of association of the Seller.
	 	 
	3.2  	The execution, delivery and performance of the Agreement by the Seller do not and will not require any approval, authorization, consent, license, qualification or registration to be made or obtained by the Seller from or with any foreign, federal, national state, local or other government, regulatory or administrative authority, agency or commission or any court, tribunal or judicial or arbitral body (the “Governmental Authority”) or other third party.
	 	 
	3.3  	On the Execution Date and the Closing Date, the Seller is and will be the record and beneficial holder of the Purchased Shares, free and clear of all liens or other security interests.  When the Purchased Shares have been delivered to the Purchaser and paid for in accordance with this Agreement, the Purchaser will obtain good and valid title to the Purchased Shares, free and clear of all liens or other security interests.
	 	 
	3.4  	The total number of shares that the Company has authority to issue is 100,000,000 shares (35,754,862 of which are issued and outstanding as of the Execution Date).  Other than such stock, the Company has no other voting equity securities authorized and available to be issued.  The Company has no other equity securities authorized and available to be converted into, exercisable for or exchangeable into Company shares, or otherwise has the potential of becoming Company shares.  All issued and outstanding shares of the Company are validly issued, fully paid and nonassessable, and none of the Company shares have been issued in violation of, or are subject to, any purchase option, call, right of first refusal, right of first offer, preemptive, subscription or similar rights under any provision of any applicable law, any contract to which the Company or the Seller is subject, bound or a party or otherwise.
	 	 
	3.5  	All information disclosed to the Purchaser by the Seller is accurate and not misleading in all material respects. There has not been any material adverse change (other than the change which have been expressly informed to the Purchaser in writing) which may affect the value in the Shares after the disclosure of such information.
	 	 
	3.6  	There is no claim, action, suit, arbitration, proceeding or investigation by or before any Governmental Authority pending or, to the knowledge of the Seller, threatened against the Seller that seeks to restrain or enjoin or otherwise challenge the Agreement that would reasonably be expect to have, individually or in aggregate, a material adverse effect on the ability of the Seller to perform its obligations under the Agreement.

 

IV. Conditions Precedent

 

4. Conditions Precedent.

 

The Purchaser shall not be obligated to purchase the Shares as provided in Section 2 of this Agreement unless all of the following conditions precedent have been met:

 

	4.1  	The sale and purchase of the Shares in accordance with this Agreement have been duly authorized by all necessary corporate actions by the Seller including but not limited to approval by the Company’s board as evidenced by with valid board meeting minutes that have been provided to the Purchaser in forms acceptable to the Purchaser.
	 	 
	4.2  	All of the representations and warranties made by the Seller as provided in Section 3 of this Agreement shall be true and correct in all respects on the date hereof and on the Closing Date.
	 	 
	4.3  	No breach of this Agreement by the Seller has occurred.

 

The Seller shall notify the Purchaser that all the above conditions precedent have been satisfied at least two business days before the Closing Date.

 

  

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V Further Agreements

 

5. Each of the Seller and Mr. Zhang shall use its/his best efforts to, and shall cause the Company to:

 

(i) take all measures necessary to enforce all of the Purchaser’s rights as holder of the Shares (including filing etc. of documents required under the applicable laws);

 

 

(ii) take all measures necessary to make any necessary registration or filing (which enables the Seller to sell the Shares to a third party) under the U.S. federal or state laws and related rules; and

 

 

(iii) cooperate with the Purchaser in preparation of documents pursuant to applicable laws.

 

VI General Provisions

 

6. Governing Law, Dispute.

 

The Seller, the Purchaser and Mr. Zhang acknowledge that any dispute or controversy arising under or relating to this Agreement or the transactions contemplated hereby, shall be governed by and construed in accordance with New York law, without regard to conflicts of law principles.  Any dispute with regard to this Agreement shall be finally resolved in Tokyo, through the arbitration by the American Arbitration Association.

 

7. Amendment.

 

This Agreement may not be amended nor modified, nor any of the provisions hereof waived, except by a writing signed by the party to be charged.

 

8. Notice.

 

All notices to the Seller shall be sent to:

Eastbridge Investment Group Corp.

8040 E. Morgan Trail, Suite 18

Scottsdale, Arizona 85258 USA

All notices to Mr. Zhang shall be sent to:

Tsingda Century Plaza, Building 39, No. 74, Lugu Rd.,

Shijingshan District, Beijing, 100040,

PRC

All notices to the Purchaser shall be sent to:  

MA Platform, Inc.

2-3-17 Toranomon, Minato-ku Tokyo 105-0001 Japan.

  

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9. Confidentiality.

 

The parties hereby agrees that, without consent from other parties in advance, the existence and content of this Agreement shall not be disclosed to any third party.

 

Notwithstanding the foregoing, to the extent necessary, such information can be disclosed when the information:

 

	
a)  

	
is required to be disclosed by any applicable compulsory law, rule, order or regulation;

 

	
b)  

	
is required to be disclosed by any relevant Government Authority in charge;

 

	
c)  

	
is disclosed to its legal advisor or auditor on a “need-to-know” basis, provided that each such legal advisor or auditor agrees to keep the existence and content of this Agreement confidential.

 

10. Severability

 

If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any applicable law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect to the fullest extent permitted by law.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transaction contemplated hereunder is consummated as originally contemplated to the greatest extent possible.

 

11. Entire Agreement.

 

This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersede all prior agreements and undertakings, both written and oral, between the parties with respect to the subject matter hereof.  No warranty, representation, inducement, promise, understanding or condition not set forth herein has been made or relied upon by either party hereto with respect to the subject matter of this Agreement.

 

12. Assignment.

 

This Agreement may not be assigned without the express written consent of the Seller and the Purchaser (which consent may be granted or withheld in the sole discretion of the Seller and the Purchaser, as applicable).

 

13. Specific Performance.

 

The parties agree that irreparable damage would occur in the event any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or equity without the necessity of demonstration of the inadequacy of monetary damages.

 

14. Counterparts.

 

Agreement may be executed in counterparts each of which shall be deemed to be an original copy of this Agreement. 

 

 

 

 

[Signature page follows]

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officer as of the date first above written.

 

	 	

Eastbridge Investment Group Corp.

	 
	 	 	 	 
	
Date

	
By: 

		 
	 	 	

Name: Norman P. Klein

	 
	 	 	

Title: COO/CFO

	 
	 	 	

Address: 8040 E. Morgan Trail, Suite 18,

Scotts dale, Arizona 85258 USA

	 
	 	 	 	 
	 	 	 	 
	 	 		 
	 	 	

Zhang Hui

	 
	 	 	

Address: Tsingda Century Plaza, Building 39, No. 74, Lugu Rd., Shijingshan District, Beijing, 100040, PRC

	 
	 	 	 	 
	 	 	 	 
	 	 	

MA Platform, Inc.

	 
	 	 	 	 
	 	 		 
	 	 	

Name: Masaki Murata

	 
	 	 	

Title:  President

	 
	 	 	 	 
	 	 	 	 

 

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