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Exhibit 10.16    
    

STOCK PURCHASE AND SALE AGREEMENT  

        This Stock Purchase and Sale Agreement (as it may from time to time be amended, this "Agreement"), dated as of
October 15, 2007, is made and entered into by and among the Flat Ridge Sellers identified on Schedule B hereto, the Cahill Sellers identified on Schedule C hereto (each of the
Flat Ridge Sellers and the Cahill Sellers, a "Seller" and collectively, the
"Sellers"), Flat Ridge Investments LLC ("Flat Ridge") and James Cahill
("Cahill", each of Flat Ridge and Cahill, a "Buyer" and
collectively, the "Buyers"). Certain capitalized terms are defined on Schedule A to this Agreement. 

RECITALS:  

        WHEREAS, the Sellers own an aggregate of 1,940,627 shares (the
"Shares") of the common stock, par value $0.0001 per share, of Prospect Acquisition Corp., a Delaware corporation (the
"Issuer"); and 

        WHEREAS, on the terms and subject to the conditions set forth in this Agreement, the Flat Ridge Sellers wish to sell certain of the Shares
in the respective amounts set forth opposite each Flat Ridge Seller's name on Schedule B to Flat Ridge and Flat Ridge wishes to purchase the Shares from the Flat Ridge Sellers, in the
respective amounts set forth on Schedule B hereto. 

        WHEREAS, on the terms and subject to the conditions set forth in this Agreement, the Cahill Sellers wish to sell certain of the Shares in
the respective amounts set forth opposite each Cahill Seller's name on Schedule C to Cahill and Cahill wishes to purchase the Shares from the Cahill Sellers, in the respective amounts set forth
on Schedule C hereto. 

AGREEMENT:  

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

ARTICLE I.

PURCHASE OF SHARES  

        Section 1.1 Sale of Shares. Subject to the terms and conditions hereof and in reliance upon the
representations and warranties of the parties contained herein, at the Closing, each Seller shall sell, assign, transfer and deliver the Shares it is selling hereunder to Flat Ridge or Cahill, as the
case may be, free and clear of all liens, other than such restrictions as may be imposed pursuant to state or federal securities laws, in consideration of the payment of the Purchase Price noted
herein. 

        Section 1.2
Purchase Price. Subject to the terms and conditions hereof and in reliance upon the representations and warranties of
the parties contained herein, at the Closing, Flat Ridge shall pay to each Flat Ridge Seller and Cahill shall pay to each Cahill Seller, by wire transfer or check payable, in immediately available
funds, to the relevant Seller, in the respective amounts set forth on Schedule B or Schedule C hereto, as the case may be (the "Purchase
Price"), in consideration of the sale, assignment, transfer and delivery of the Shares by the Sellers under this Agreement. 

        Section 1.3
Closing. The closing of the purchase and sale of the Shares (the
"Closing") shall be held on October 15, 2007 (the "Closing Date") at the offices of Bingham
McCutchen LLP, 399 Park Avenue, New York, New York 10022, or such other place as may be agreed upon by the parties hereto. 

        Section 1.4
Closing Deliveries. At the Closing, each party shall execute and deliver this Agreement and such other appropriate and
customary documents as the other parties reasonably may request for the purpose of consummating the transactions contemplated by this Agreement. All actions taken at the Closing shall be deemed to
have been taken simultaneously. 

 

        (a)   Buyer Deliveries. Without limiting the generality of the foregoing, at the Closing Flat Ridge shall deliver to each Flat
Ridge Seller, and Cahill shall deliver to each Cahill Seller, the relevant Purchase Price for the Shares being sold by the respective Seller to such Buyer. 

        (b)   Seller Deliveries. Without limiting the generality of the foregoing, at the Closing, or within a reasonable time after
the Closing Date but in no event later than five days after Closing Date, each Seller shall deliver to each Buyer the certificate or certificates representing the Shares purchased by such Buyer, which
certificates shall be properly endorsed for transfer or accompanied by duly executed stock powers. 

        Section 1.5
Further Assurances. The parties hereto shall execute and deliver such additional documents and take such additional
actions as any party reasonably may deem to be practical and necessary in order to consummate the transactions contemplated by this Agreement. 

ARTICLE II.

REPRESENTATIONS AND WARRANTIES OF THE BUYERS  

        Section 2.1 Power and Authority; Enforceability. Flat Ridge hereby represents to each Flat Ridge Seller and
Cahill hereby represents to each Cahill Seller, as to itself that, (i) this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms,
(ii) it has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder, (iii) it has taken all actions necessary to authorize the execution
and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby, and (iv) this Agreement has been duly authorized,
executed and delivered by, and is enforceable against, it, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or
affecting creditors' rights and to general equitable principles (whether considered in a proceeding in equity or law). 

        Section 2.2
No Violation; Necessary Approvals. Flat Ridge hereby represents to each Flat Ridge Seller and Cahill hereby represents
to each Cahill Seller, as to itself, that neither its execution and delivery of this Agreement, nor its consummation or performance of any of transactions contemplated hereby, will: (a) with or
without notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under
any (i) law (statutory, common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority ("Law")
enacted, adopted, promulgated or applied by any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar recognized organization or body of any federal,
state, county, municipal, local or foreign government or other similar recognized organization or body exercising similar powers or authority (a "Governmental
Body"), (ii) order, ruling, decision, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Body
or arbitrator (an "Order"), (iii) contract, agreement, arrangement, commitment, instrument, document or similar understanding (whether written or
oral), including a lease, sublease and rights thereunder ("Contract") or permit, license, certificate, waiver, notice and similar authorization
("Permit") to which, in the case of (i), (ii) or (iii), it is a party or by which it is bound or any of its assets are subject, or
(iv) any provision of the organizational documents of any Buyer, if applicable, as in effect on the Closing Date; (b) require any Consent under any Contract or organizational document,
if applicable, to which it is a party or by which it is bound or any of its assets are subject; or (c) require any Permit under any Law or Order other than (i) required filings, if any,
with the Securities and Exchange Commission ("SEC") and (ii) notifications or other filings with state or federal regulatory agencies after the
Closing that are necessary or convenient and do not require approval of the agency as a condition to the validity of the transactions contemplated hereunder. 

2

 

        Section 2.3
Investment Representations. Flat Ridge hereby represents to each Flat Ridge Seller and Cahill hereby represents to each
Cahill Seller, as to itself, the following: 

        (a)   It
hereby acknowledges that an investment in the Shares involves certain significant risks. It acknowledges that there is a substantial risk that it will lose all or a
portion of its investment and should be financially capable of bearing the risk of such investment for an indefinite period of time. It has no need for liquidity in its investment in the Shares for
the foreseeable future and is able to bear the risk of that investment for an indefinite period. It understands that there presently is no public market for the Shares and none is anticipated to
develop in the foreseeable future. Its present financial condition is such that it is under no present or contemplated future need to dispose of any portion of the Shares subscribed for hereby to
satisfy any existing or contemplated undertaking, need or indebtedness. Its overall commitment to investments which are not readily marketable is not disproportionate to its net worth and the
investment in the Shares will not cause such overall commitment to become excessive. 

        (b)   It
acknowledges that the Shares have not been registered under the Securities Act, or any state securities act, and are being sold on the basis of exemptions from
registration under the Securities Act and applicable state securities acts, except those state securities acts that require registration of the Shares thereunder. Reliance on such exemptions, where
applicable, is predicated in part on the
accuracy of its representations and warranties set forth herein. It acknowledges and hereby agrees that the Shares will not be transferable under any circumstances unless it either registers the
Shares in accordance with federal and state securities laws or finds and complies with an exemption under such laws. Accordingly, it hereby acknowledges that there can be no assurance that it will be
able to liquidate its investment in the Shares. It understands that the Issuer is under no obligation to register the Shares under the Act or to comply with any applicable exemption under the
Securities Act on behalf of such Buyer with respect to any resale of the Shares and that it will not be able to avail itself of the provisions of Rule 144 promulgated under the Securities Act
with respect to the resale of the Shares until the Shares have been beneficially owned by it for a period of at least one (1) year from date of purchase. It further understands that any
certificates evidencing the Shares bear a legend referring to the foregoing transfer restrictions. 

        (c)   In
evaluating the merits and risks of an investment in the Shares, it has had the opportunity to seek the advice of its legal and financial advisors, has availed itself
of that right to the extent deemed appropriate, and has not relied on the advice of any Seller or Seller's legal and financial counsel. 

        (d)   The
Shares are being acquired solely for its own account, for investment purposes only, and are not being purchased with a view to or for the resale, distribution,
subdivision or fractionalization thereof; and it has no present plans to enter into any contract, undertaking, agreement or arrangement for such resale, distribution, subdivision or fractionalization.
It is not taking and will not take or cause to be taken any action that would cause it to be deemed an "underwriter" within the meaning of Section 2(11) of the Securities Act. 

        (e)   There
are substantial risk factors pertaining to an investment in the Shares. It acknowledges that the Issuer is an entity with limited operating history and financial
resources; and it is fully able to bear the economic risks of such investment for an indefinite period, and can afford a complete loss thereof. 

        (f)    It
has been given the opportunity to (i) ask questions of and receive answers from the Sellers and the Issuer and their designated representatives concerning the
terms and conditions of the Shares, and the business and financial condition of the Issuer and (ii) obtain any additional information that the Sellers possess or can acquire without
unreasonable effort or expense that is necessary to assist it in evaluating the advisability of the purchase of the Shares and an investment in the Issuer. It further represents and warrants that,
prior to signing this Agreement, it has asked 

3

 

such
questions, received such answers and obtained such information as it has deemed necessary or advisable to evaluate the merits and risks of the purchase of the Shares and an investment in the
Issuer. It is not relying on any oral representation made by any person as to the Issuer or its operations, financial condition or prospects. 

        (g)   It
understands that no federal, state or other governmental authority has made any recommendation, findings or determination relating to the merits of an investment in
the Shares. 

        Section 2.4
Agreement to Sell Back Securities. Each Buyer hereby agrees to permit the Issuer to repurchase from such Buyer, in such
proportion as such Buyer holds of the total outstanding Shares of the Issuer immediately prior to the Issuer's initial public offering of its securities (the "Designated
Time"), at a purchase price equal to $0.0001 per share, a number of Shares necessary to ensure that the aggregate amount of Shares held by the Buyer, any transferees pursuant
to Section 3.4(i) and all other holders of the Issuer's outstanding Shares at the Designated Time, does not exceed 20% of the issued and outstanding common stock of the Issuer after the
consummation of the Issuer's initial public offering of its securities. 

        Section 2.5
Nature of Representations and Warranties. Notwithstanding any other provision of this Article 2, each
representation and warranty made by the Buyers hereunder should be deemed to be made severally, and not jointly. 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES OF SELLER  

        Section 3.1 Power and Authority; Enforceability. Each Flat Ridge Seller hereby represents to Flat Ridge and
each Cahill Seller hereby represents to Cahill, as to itself, that this Agreement constitutes its legal, valid, and binding obligation, enforceable against it in accordance with its terms. It has full
power and capacity to execute and deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly executed, and delivered by, and is enforceable against, it 

        Section 3.2  No Violation; Necessary Approvals. Each Flat Ridge Seller hereby represents to Flat Ridge and each Cahill Seller hereby
represents to Cahill, as to itself, that (i) neither its execution and delivery of this Agreement, nor its consummation or performance of any of transactions contemplated hereby, will:
(a) with or without notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any
obligation required under any Law, Order, Contract or Permit to which it is a party or by which it is bound or any of its assets are subject, (b) result in the imposition of any lien, claim or
encumbrance upon any assets owned by it; (c) require any Consent under any Contract or organizational document, if applicable, to which it is a party or by which it is bound; or
(d) require any Permit under any Law or Order other than (i) required filings, if any, with the SEC and (ii) notifications or other filings with state or federal regulatory
agencies after the Closing that are necessary or convenient and do not require approval of the agency as a condition to the validity of the transactions contemplated hereunder; or (e) trigger
any rights of first refusal, preferential purchase or similar rights with respect to any of the Shares. 

        Section 3.3
Capitalization. Prior to the sale of the Shares to Flat Ridge and Cahill pursuant to this Agreement, each Flat Ridge
Seller hereby represents and warrants to Flat Ridge and each Cahill Seller
hereby represents and warrants to Cahill that they owned in the aggregate, the number of shares of common stock of the Issuer identified on Schedule B or Schedule C, as the case may be. 

        Section 3.4
Title to Securities. Each Flat Ridge Seller hereby represents to Flat Ridge and each Cahill Seller hereby represents to
Cahill, as to itself, that all of the Shares being sold by the Seller hereunder have been duly and validly authorized and issued and are fully paid and non-assessable. Upon the sale and
purchase of the Shares pursuant to the terms hereof, the Buyers will have or receive 

4

 

good
title to the Shares being sold by the Sellers hereunder, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions under federal and state
securities laws, and (ii) liens, claims or encumbrances imposed due to the actions of the Buyers. 

ARTICLE IV.

MISCELLANEOUS  

        Section 4.1 Entire Agreement. This Agreement, together with the certificates, documents, instruments and
writings that are delivered pursuant hereto, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

        Section 4.2
Successors. All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are
binding upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. 

        Section 4.3  Assignments. Except as otherwise provided herein, no party hereto may assign either this Agreement or any of its
rights, interests, or obligations hereunder without the prior written approval of the other party, other than an assignment by any of the Buyers to an affiliate thereof. Any purported assignment in
violation of this Section 4.3 shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. 

        Section 4.4
Notices. All notices, requests, demands, claims and other communications hereunder will be in writing. Any notice,
request, demand, claim or other communication hereunder will be deemed duly given if (and then three business days after) it is sent by registered or certified mail, return receipt requested, postage
prepaid, and addressed to the intended recipient as set forth below: 

	

If to a Buyers:	
 	

Flat Ridge Investments LLC

814 Hollow Tree Ridge Road

Darien, CT 02820

Attn: David A. Minella
	

 	
 	

James Cahill

3 Kimberly Drive

Redding, CT 06896
	

If to the Sellers:	
 	

To the address

set forth below such

Buyer's name on the

Schedule B hereto.
	

Copy to (which will not

constitute notice):	
 	

Bingham McCutchen LLP

399 Park Avenue

New York, New York 10022

Attn: Floyd I. Wittlin, Esq.

Phone: (212) 705-7000

Fax: (212) 752-5378

        Any
party hereto may send any notice, request, demand, claim, or other communication hereunder to the intended recipient at the address set forth above using any other means (including
personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other communication will be deemed to have
been duly given unless and until it actually is received by the intended recipient. Any party hereto may change the 

5

 

address
to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other parties hereto notice in the manner herein set forth. 

        Section 4.5
Specific Performance. Each party hereto acknowledges and agrees that the other parties would be damaged irreparably if
any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached. Accordingly, each party agrees that the other parties will be entitled to an injunction
or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its terms and provisions in any action instituted in any court of the United
States or any state thereof having jurisdiction over the parties hereto and the matter, in addition to any other remedy to which they may be entitled, at Law or in equity. 

        Section 4.6
Waiver of Jury Trial. THE PARTIES HERETO EACH HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO JURY TRIAL OF ANY
DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL
ENCOMPASSING OF ANY AND ALL ACTIONS THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS, INCLUDING, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW AND STATUTORY CLAIMS. THE PARTIES HERETO EACH ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP AND THAT THEY WILL CONTINUE TO RELY ON THE
WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND
THE WAIVER WILL APPLY TO ANY AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. IN THE EVENT OF AN ACTION, THIS AGREEMENT MAY
BE FILED AS A WRITTEN CONSENT TO TRIAL BY A COURT. 

        Section 4.7  Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original but
all of which together will constitute one and the same instrument. 

        Section 4.8
Headings. The article and section headings contained in this Agreement are inserted for convenience only and will not
affect in any way the meaning or interpretation of this Agreement. 

        Section 4.9
Governing Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties
(whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to
its choice of laws principles. 

        Section 4.10
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written
instrument executed by all parties hereto. 

        Section 4.11
Severability. The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any
provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party hereto or to any circumstance, is
adjudged by a Governmental Body, arbitrator, or mediator not to be enforceable in accordance with its terms, the parties hereto agree that the Governmental Body, arbitrator, or mediator making such
determination will have the power to modify the provision in a manner 

6

 

consistent
with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced. 

        Section 4.12
Expenses. Except as otherwise expressly provided in this Agreement, each party hereto will bear its own costs and
expenses incurred in connection with the preparation, execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of
agents, representatives, financial advisors, legal counsel and accountants, provided that upon the consummation of the initial public offering of the Issuer, all such accrued fees and expenses of
legal counsel of the Buyers shall be paid by the Issuer. 

        Section 4.13
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an
ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or
disfavoring any party hereto because of the authorship of any provision of this Agreement. Any reference to any federal, state, local, or foreign Law will be deemed also to refer to Law as amended and
all rules and regulations promulgated thereunder, unless the context requires otherwise. The words "include,"
"includes," and "including" will be deemed to be followed by "without
limitation." Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the
plural and vice versa, unless the context otherwise requires. The words "this Agreement," "herein,"
"hereof," "hereby," "hereunder," and words of similar
import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation,
warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant. 

        Section 4.14  Waiver. No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder,
whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising because
of any prior or subsequent occurrence. 

        Section 4.15
Remedies. The parties hereto shall have all remedies for breach of this Agreement available to them as provided by law
or equity. 

        Section 4.16  Publicity. None of the parties hereto, nor their respective representatives, agents, affiliates, subsidiaries,
directors, advisors, controlling persons, employees or members shall issue or cause the publication of any press release, advertisement or other public communication relating to this Agreement or any
of the other documents contemplated hereunder, without the prior written consent of the other party, except where the disclosure of information is required by law, rule, regulation, regulatory inquiry
or other judicial process. 

        Section 4.17
Third Party Beneficiary. Each of the parties hereto hereby agrees and acknowledges that the Issuer shall be a third
party beneficiary of this Agreement with respect to Section 2.4 and this Article IV as if the Issuer shall have been a party to this Agreement. 

[SIGNATURE PAGES FOLLOW]

7

        IN WITNESS WHEREOF, the undersigned have executed this Stock Purchase and Sale Agreement to be effective as of the date first set forth above. 

	 	 	FLAT RIDGE INVESTMENTS LLC
	

 	
 	

By:	
 	

/s/  DAVID A. MINELLA      

	 	 	Name:	 	David A. Minella
	 	 	Title:	 	Managing Member
	
 	
 	

JAMES CAHILL
	

 	
 	

By:	
 	

/s/  JAMES CAHILL      

	 	 	Name:	 	James Cahill
	 	 	Title:	 	CFO & Secretary
	

 	
 	
LLM STRUCTURED EQUITY FUND L.P.
	

 	
 	

By:	
 	

/s/  PATRICK J. LANDERS      

	 	 	Name:	 	Patrick J. Landers
	 	 	Title:	 	Managing Director
	

 	
 	
LLM INVESTORS L.P.
	

 	
 	

By:	
 	

/s/  PATRICK J. LANDERS      

	 	 	Name:	 	Patrick J. Landers
	 	 	Title:	 	Managing Director
	

 	
 	
CAPITAL MANAGEMENT SYSTEMS, INC.
	

 	
 	

By:	
 	

/s/  RICHARD A. MITCHELL      

	 	 	Name:	 	Richard A. Mitchell
	 	 	Title:	 	V.P.
	

 	
 	
MICHAEL CASTINE
	

 	
 	

By:	
 	

/s/  MICHAEL P. CASTINE      

	 	 	Name:	 	Michael P. Castine
	 	 	Title:	 	Director
	

 	
 	
SJC CAPITAL, LLC
	

 	
 	

By:	
 	

/s/  WILLIAM CVENGROS      

	 	 	Name:	 	William Cvengros
	 	 	Title:	 	Managing Member
	

 	
 	
MICHAEL DOWNEY
	

 	
 	

By:	
 	

/s/  MICHAEL DOWNEY      

	 	 	Name:	 	Michael Downey
	 	 	Title:	 	 
	

 	
 	
DANIEL GRESSEL
	

 	
 	

By:	
 	

/s/  DANIEL GRESSEL      

	 	 	Name:	 	Daniel Gressel
	 	 	Title:	 	 

SCHEDULE A

DEFINITIONS  

        As used in the Stock Purchase and Sale Agreement dated as of October 15, 2007, by and among the Flat Ridge Sellers identified on Schedule B, the
Cahill Sellers identified on Schedule C, Flat Ridge Investments LLC and James Cahill (the "Agreement"), the following terms shall have for all
purposes the following meanings: 

        "Buyer" shall have the meaning set forth in the preamble to the Agreement. 

        "Cahill" shall have the meaning set forth in the preamble to the Agreement. 

        "Cahill Seller" shall have the meaning set forth in the preamble to the Agreement. 

        "Closing" shall have the meaning set forth in Section 1.3 of the Agreement. 

        "Closing Date" shall have the meaning set forth in Section 1.3 of the Agreement. 

        "Consent" means any consent, approval, notification, waiver, or other similar action that is necessary or convenient. 

        "Contract" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Designated Time" shall have the meaning set forth in Section 2.5 of the Agreement. 

        "Flat Ridge" shall have the meaning set forth in the preamble to the Agreement. 

        "Flat Ridge Seller" shall have the meaning set forth in the preamble to the Agreement. 

        "Governmental Body" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Issuer" shall have the meaning set forth in the recitals to the Agreement. 

        "Law" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Lien" shall mean a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance, charge, restriction, lien (statutory or
otherwise, including, without limitation, any lien for taxes), security interest, preference, participation interest, priority or security agreement or preferential arrangement of any kind or nature
whatsoever, including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the
filing of any document under the law of any applicable jurisdiction to evidence any of the foregoing, other than (i) statutory, mechanics' or other Liens incurred in the ordinary course of
business or (ii) Liens for taxes incurred but not yet due. 

        "Order" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Permit" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Purchase Price" shall have the meaning set forth in Section 1.2 of the Agreement. 

        "SEC" shall have the meaning set forth in Section 2.3 of the Agreement. 

        "Securities Act" shall mean the Securities Act of 1933, as amended, or any successor federal statute, and the applicable rules and
regulations promulgated and in effect from time to time thereunder. 

        "Seller" and "Sellers" shall have the meaning set forth in the preamble to the Agreement. 

        "Shares" shall have the meaning set forth in the recitals to the Agreement. 

SCHEDULE B  

SHARES

	Flat Ridge Seller
 
	 	Shares

Currently Owned
	 	Shares Sold to

Flat Ridge
	 	Sales Price

Shares Sold to

Flat Ridge

	Michael P. Castine

14 Larkspur Lane

Greenwich, CT 06831	 	107,813	 	12,579	 	$	72.92
	

Daniel Gressel

55 Cedar Cliff Road

Greenwich, CT 06878	
 	

107,813	
 	

12,579	
 	
$	

72.92
	

SJC Capital, LLC

31975 Peppertree Bend

San Juan Capistrano, CA 92675	
 	

107,813	
 	

12,579	
 	
$	

72.92
	

Michael Downey

2 Parsons Lane

Rochester, NY 14610	
 	

107,813	
 	

12,579	
 	
$	

72.92
	

LLM Structured Equity Fund L.P.

265 Franklin St., 20th Floor

Boston, MA 02110	
 	

1,183,350	
 	

73,369	
 	
$	

425.33
	

LLM Investors L.P.

265 Franklin St., 20th Floor

Boston, MA 02110	
 	

24,150	
 	

2,818	
 	
$	

16.34
	

Capital Management Systems, Inc.

308 E. Lancaster Avenue

Suite 300

Wynnewood, PA 19096	
 	

301,875	
 	

35,218	
 	
$	

204.16
	

 	
 	

 	
 	

	
 	

	 	
Total	
 	

 	
 	

161,721	
 	
$	

937.51
	

 	
 	

 	
 	

	
 	

SCHEDULE C  

SHARES

	Cahill Seller
 
	 	Shares

Currently Owned
	 	Shares Sold to

Cahill
	 	Sales Price of

Shares Sold to

Cahill

	LLM Structured Equity Fund L.P.

265 Franklin St., 20th Floor

Boston, MA 02110	 	1,183,350	 	64,688	 	$	375.00
	 	 	 	 	
	 	

	 	Total	 	 	 	64,688	 	$	375.00
	 	 	 	 	
	 	

QuickLinks

Exhibit 10.16Filed by Automated Filing Services Inc. (604) 609-0244 - Infrablue (US) Inc. -  Exhibit 10.1

ASSET PURCHASE AGREEMENT 

THIS AGREEMENT effective as of October 12, 2007. 

BETWEEN: 

  
    
      OXON LIFE SCIENCE LIMITED., a company incorporated
        pursuant to the laws of Nevis, BritishWest Indies and having an address
        at Donegan, Zetlands, Nevis, St Kitts & Nevis, West Indies 

      (the “Seller”) 

    

  

AND: 

  
    
      INFRABLUE (US) INC., a company incorporated pursuant
        to the laws of the State of Nevada and having a business address at Suite
        3.19, 130 Shaftesbury Avenue, London, England W1D 5EV 

      (the “Buyer”) 

    

  

AND: 

  
    
      NEXTGEN BIOSCIENCE INC., a company incorporated
        pursuant to the laws of the State of Nevada and having a business address
        at Suite 3.19, 130 Shaftesbury Avenue, London, England W1D 5EV

      (“Holdco”) 

    

  

WHEREAS: 

A.                           
 The Seller is the owner of certain assets and undertakings relating to the
development of therapies for the treatment of certain types of cancer;

B.                             The
Buyer and Holdco desire to purchase from the Seller and the Seller desires to
sell and assign to the Buyer and Holdco certain intellectual property assets of
the Seller in exchange for shares of the Buyer on the terms and subject to the
conditions of this Agreement; and 

C.                            
In contemplation of the execution of this Agreement, the Seller has filed patent
applications relating to the intellectual property assets contemplated hereby
with the European Patent Office in the name of Holdco. 

NOW THEREFORE, in consideration of the mutual promises
of the parties hereto, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, it is mutually agreed by and
between the parties hereto as follows: 

ARTICLE 1 

DEFINITIONS AND INTERPRETATION 

Definitions 

1.1                             
In this Agreement, including the recitals and schedules, the following words and
phrases have the following meanings: 

(a)          
“Affiliate” in respect of a Person, means any other Person that, directly
or indirectly, through one or more intermediaries, controls, is controlled by or
is under common control with, such first Person where “control” means, with
respect to the relationship between or among two or more Persons, the
possession, directly or indirectly or as trustee, personal representative or
executor, of the power to direct or cause the direction of the affairs or
management of a Person, whether through the ownership of voting securities, as
trustee, personal representative or executor, by contract, credit arrangement or
otherwise, including, without limitation, the ownership, directly or indirectly,
of securities having the power to elect a majority of the board of directors or
similar body governing the affairs of such Person; 

(b)          
“Assets” means all property and assets set forth in Schedule A hereto,
which property and assets include, without limitation, the Contracts, the
Intellectual Property and the Permits and Licenses; 

(c)          
“Business Day” means any day other than a Saturday, Sunday or public
holiday in London, England; 

(d)          
“Closing” means the completion of the purchase and sale of the Assets on
the terms and subject to the conditions contained in this Agreement by the Buyer
and the Seller respectively; 

(e)          
“Closing Date” means the 12th day of November, 2007, or such
other day as agreed to in writing between the Parties on which the Closing is to
occur; 

(f)          
“Consents and Approvals” means all necessary consents and approvals
required to be obtained in connection with the execution and delivery by the
Seller of this Agreement and the consummation of the transactions described
herein, as listed in the Disclosure Schedule; 

(g)          
“Contracts” means all agreements and contracts to which the Seller is
party that relate to the ownership or use of the Assets by the Seller, including
without limitation those contracts and agreements set forth in Schedule A; 

(h)          
“Disclosure Schedule” means the disclosure schedule attached as Schedule
B hereto. The Disclosure Schedule will be arranged in sections corresponding to
the numbered and lettered sections contained in this Agreement and the
disclosure in any section qualifies other sections in this Agreement only to the
extent that such disclosure specifically references the fact that it also
qualifies or applies to such other specified sections; 

(i)          
“Encumbrance” means any lien, claim, charge, pledge, hypothecation,
security interest, mortgage, title retention agreement, option, assignment,
license or other encumbrance or adverse claim of any nature or kind whatsoever;

(j)          
“Exchange Act” means the United States Securities Exchange Act of 1934,
as amended; 

(k)          
“Intellectual Property” means all rights in and to patents and patent
applications, registered or unregistered trademarks, service marks, and
trademark or service mark registrations and applications, trade names, logos,
designs, Internet domain names, slogans and general intangibles of like nature,
together with all goodwill relating to the foregoing, copyrights, copyright
registrations, renewals and applications, Software, licenses, agreements and all
other proprietary rights, which relate to the Assets; 

(l)          
“Name Change” means the name change of the Buyer to “NextGen Bioscience
Inc.”; 

(m)          
“Party” means each party to this Agreement individually and
“Parties” mean each Party collectively; 

(n)          
“Permits and Licenses” means all rights of the Seller with respect to
permits, approvals, orders, authorizations, consents, licenses, certificates and
all pending applications therefor, which have been issued or granted to, or are
owned or used by, the Seller in connection with the ownership or use of the
Assets; 

(o)          
“Person” is to be broadly interpreted and includes an individual, a
partnership, a corporation, a limited liability company, an association, a joint
stock company, a trust, a joint venture, an unincorporated organization or
association, or a Governmental Entity; 

(p)          
“Purchase Price” means the Shares of the Buyer to be issued to the Seller
at Closing in consideration for the purchase of the Assets;

(q)          
“Purchaser’s Solicitors” means Lang Michener LLP; 

(r)          
“Schedule 14F-1 Information Statement” means an information statement to
prepared by the Buyer in accordance with Rule 14f(1) of the Exchange Act in
connection with the change in the majority of the Buyer’s board of directors
contemplated by this Agreement;

(s)          
“SEC” means the United States Securities and Exchange Commission; (t)
“Securities Act” means the United States Securities Act of 1933, as
amended; (u) “Shares” means 3,500,000 shares of the Buyer’s Common Stock;

(v)          
“Stock Split” a forward split of the Buyer’s outstanding common stock on
a four new shares for one old shares basis, which forward split will include a
corresponding increase to the authorized capital of the Buyer, each in
accordance with Section 78.207 of Chapter 78 of the Nevada Revised Statutes.

Schedules 

1.2                              
The following schedules are attached to, form part of, and are hereby
incorporated by reference into this Agreement: 

Schedule A – Description of Assets

Schedule B – Disclosure Schedule

Schedule C – Assignment of
Intellectual Property 

ARTICLE 2 

SALE AND TRANSFER OF ASSETS; CLOSING 

2.1                              
Sale of Assets. Subject to the terms and conditions of this Agreement,
and in reliance upon the representations, warranties, covenants and agreements
contained herein, at the Closing, the Seller shall sell, convey, assign and
transfer the Assets to the Buyer and Holdco, and the Buyer and Holdco shall
purchase the Assets from the Seller. 

2.2                              
Consideration. In consideration of the sale, transfer and assignment to
the Buyer of the Assets, at the Closing, the Buyer shall issue and deliver to
the Seller the Shares, which Shares shall be subject to any increase or decrease
in the Buyer’s share capital prior to Closing as a result of any subdivision or
consolidation of the Buyer’s share capital, including pursuant to the Stock
Split. 

2.3                              
The Closing. The Closing shall take place on the Closing Date at the
offices of the Buyer or such other place as the parties may agree in
writing.

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF THE SELLER

To induce the Buyer to execute, deliver and perform this
Agreement, and in acknowledgement of the Buyer’s reliance on the following
representations and warranties (in addition to any other representations and
warranties included in this Agreement), the Seller represents and warrants to
the Buyer as follows as of the date hereof and as of the Closing Date: 

3.1                              
Organization. The Seller is a corporation duly organized, validly
existing and in good standing under the applicable laws of Nevis, West Indies
with the power and authority to conduct its business as it is now being
conducted and to own its assets.

3.2                              
Power and Authority. The Seller has the power and authority to execute,
deliver, and carry out its obligations under the Agreement and any other
agreements and instruments to be executed and delivered by it in connection with
the transactions contemplated hereby, and the Seller has taken all necessary
action to authorize the execution and delivery of this Agreement and such other
agreements and instruments and the consummation of the transactions contemplated
hereby, including but not limited to the receipt of all necessary regulatory
approvals. This Agreement is, and the other agreements and instruments to be
executed and delivered by the Seller in connection with the transactions
contemplated hereby, when such other agreements and instruments are executed and
delivered, shall be the valid and legally binding obligations of the Seller
enforceable against the Seller in accordance with their respective terms. 

3.3                              
Title to Assets. The Seller is the owner of all of the Assets free and
clear of any and all Encumbrances. Without limiting the generality of the
foregoing, neither the Seller’s Affiliates, consultants or clients, nor any
employees of the Seller, own or possess any of the Assets (including, without
limitation, any Intellectual Property) or any legal or beneficial interest in
the Assets. 

3.4                              
No Rights to Purchase Assets. There is no agreement, contract, option,
commitment or other right in favour of, or held by, any person for the purchase
of the Assets or any interest therein from the Seller.

3.5                              
No Conflict. Neither the execution and delivery of this Agreement and the
other agreements and instruments to be executed and delivered in connection with
the transactions contemplated hereby, nor the consummation of the transactions
contemplated hereby, will violate or conflict with:

(a)          
any law, regulation, ordinance, governmental restriction, order, judgment or
decree applicable to the Seller;

(b)          
any provision of any charter, bylaw or other governing or organizational
instrument of the Seller; or

(c)          
any mortgage, indenture, license, instrument, trust, contract, agreement, or
other commitment or arrangement to which the Seller is a party or by which the
Seller is bound. 

3.6                              
Litigation. There are no actions, suits, claims, applications, complaints
or investigations, directive, or notice of defect or non-compliance in any court
or before any arbitrator or before or by any regulatory body, board, tribunal,
administrative licensing or regulatory agency, body or office, or governmental
department or governmental or non-governmental body issued or pending or, to the
Seller’s knowledge, threatened by or against the Seller, or related to its
business, the Assets or affecting the business or the operations of the business
or the transactions contemplated by this Agreement and to the Seller’s knowledge
there is not factual or legal basis which could give rise to any such actions,
suit, proceeding, claim, application, complaint, investigation, directive or
notice of defect or non-compliance.

3.7                              
Material Contracts. With respect to Contracts the Seller warrants and
represents that there are no Contracts in existence. 

3.8                              
Required Consents. No permit, approval, authorization, consent,
permission, or waiver to or from any person, or notice, filing, or recording to
or with, any person is necessary for:

(a)          
the execution and delivery by the Seller of this Agreement and the other
agreements and instruments to be executed and delivered by the Seller in
connection with the transactions contemplated hereby, or the consummation by the
Seller of the transactions contemplated hereby; or

(b)          
the transfer to and ownership and use of the Assets by the Buyer. 

3.9                              
Intellectual Property. 

(a)          
The Seller owns or has the valid right to use all of its Intellectual Property.

(b)          
The Intellectual Property owned or used by the Seller is free and clear of all
liens, charges, Encumbrances or other restrictions on transfer. The Seller is
registered with all applicable governmental agencies as the sole owner of record
for each application and registration listed on Schedule A. The Seller is the
registered owner of such Internet domain names listed on Schedule A and where
applicable has a currently valid registration of such domain names. 

(c)          
The Seller owns no trademarks or software related to the Assets in any form. The
patent registrations listed in Schedule A are valid and subsisting, in full
force and effect, and have not been cancelled, expired, or abandoned. There is
no pending or threatened opposition, interference or cancellation proceeding
before any court or registration authority in any 

jurisdiction against such registrations
or against any of the Intellectual Property licensed to the Seller pursuant to
the License Agreements (as defined in the next paragraph). 

(d)          
Schedule A attached hereto sets forth a complete and accurate list of all
agreements pertaining to the use of, or granting any right to use or practice
any rights under, the Intellectual Property, whether the Seller is the licensee,
licensor or user thereunder and whether written, oral, express or implied, and
any written settlements or consents relating to any Intellectual Property and
covenants not to sue (collectively, the “License Agreements”), indicating for
each the title, the parties, date executed, and the Intellectual Property
covered thereby. Except as set forth in Schedule B, there are no settlements,
consents, judgments, or orders or other agreements which restrict any of the
Seller’s rights to use any of the Intellectual Property or permit third parties
to use any Intellectual Property which would otherwise infringe any of the
Seller’s Intellectual Property. 

(e)           To
the best of the Seller’s knowledge, no third party is misappropriating,
infringing, diluting, or violating any of the Intellectual Property owned by,
assigned or licensed to the Seller, and no such claims are pending against a
third party by the Seller. 

3.10                              
Investor Representations. The Seller acknowledges and agrees that the
Shares will be offered and sold to the Seller without being registered under the
Securities Act and will be issued to the Seller in accordance with Rule 903 of
Regulation S of the Securities Act in an “offshore transaction” within
the meaning of Regulation S based on the representations and warranties of the
Seller in this Agreement. As such, the Seller further acknowledges and agrees
that all Shares will, upon issuance, be “restricted securities” within
the meaning of the Securities Act. 

3.11                              
Agreement Regarding Resale. The Seller agrees to resell the Shares only
in accordance with the provisions of Regulation S of the Securities Act,
pursuant to registration under the Securities Act, or pursuant to an available
exemption from registration pursuant to the Securities Act, and otherwise in
accordance with all applicable state securities laws and the laws of any other
jurisdiction. The Seller agrees that the Buyer may require the opinion of legal
counsel reasonably acceptable to the Buyer in the event of any offer, sale,
pledge or transfer of any of the Shares by the Seller pursuant to an exemption
from registration under the Securities Act.

3.12                              
Prohibition Against Hedging Transactions. The Seller agrees not to engage
in hedging transactions with regard to the Shares unless in compliance with the
Securities Act. 

3.13                              
Right of Company to Refuse Transfer. The Seller agrees that the Buyer
will refuse to register any transfer of the Shares not made in accordance with
the provisions of Regulation S of the Securities Act, pursuant to registration
under the Securities Act, pursuant to an available exemption from registration,
or otherwise pursuant to this Agreement.

3.14                              
No Obligation to Register. The Seller acknowledges that the Buyer has not
agreed and has no obligation to register the resale of the Shares under the
Securities Act. 

3.15                              
Share Certificates. The Seller acknowledges and agrees that any and all
certificates representing the Shares will be endorsed with the following legend
pursuant to Regulation S of the Securities Act or such similar legend as deemed
advisable by legal counsel for the Buyer to ensure compliance with Regulation S
of the Securities Act and to reflect the status of the Shares as restricted
securities:

  
    
      “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
        AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
        AS AMENDED (THE “U.S. SECURITIES ACT”) OR UNDER THE STATE SECURITIES
        LAWS OF ANY OF THE UNITED STATES. THE HOLDER HEREOF, BY PURCHASING SUCH
        SECURITIES, AGREES FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES
        MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE CORPORATION,
        (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATIONS
        UNDER THE U.S. SECURITIES ACT, (C) WITHIN THE UNITED STATES IN ACCORDANCE
        WITH THE EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED
        BY RULES 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH
        ANY APPLICABLE STATE SECURITIES LAWS, OR (D) IN A TRANSACTION THAT DOES
        NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR APPLICABLE STATE
        SECURITIES LAWS, AND, IN THE CASE OF (C) OR (D) THE SELLER HAS FURNISHED
        TO THE CORPORATION AN OPINION TO SUCH EFFECT FROM COUNSEL, OF RECOGNIZED
        STANDING REASONABLY SATISFACTORY TO THE CORPORATION PRIOR TO SUCH OFFER,
        SALE OR TRANSFER.” 

    

  

3.16                              
Issuance of Shares. The Seller further represents and warrants to the
Buyer as follows, and acknowledges that the Buyer is relying upon such
covenants, representations and warranties in connection with the issue of the
Shares to the Seller: 

(a)          
the Seller is not a “U.S. Person” as defined in Regulation S of the
Securities Act and is not acquiring the Shares for the account or benefit of a
U.S. Person; 

(b)          
the Seller was not in the United States at the time the offer to purchase the
Shares was received or this Agreement was executed;

(c)          
The Seller has not purchased the Shares as a result of any form of general
solicitation or general advertising, including advertisements, articles, notices
or other communications published in any newspaper, magazine or similar media or
broadcast over radio, television or other form of telecommunications, or any
seminar or meeting whose attendees have been invited by general solicitation or
general advertising; 

(d)          
the Seller has such knowledge, sophistication and experience in business and
financial matters such that it is capable of evaluating the merits and risks of
the investment in the Shares. The Seller has evaluated the merits and risks of
an investment in the Shares. The Seller can bear the economic risk of this
investment, and is able to afford a complete loss of this investment; 

(e)          
the Seller acknowledges that the Buyer is in the early stages of development of
its business and the Buyer’s success is subject to a number of significant
risks, including the risk that the Buyer will not be able to finance its plan of
operations. The Seller further acknowledges that (i) the Buyer has limited cash
and working capital, (ii) the Buyer will have to raise additional capital in
order to finance its plan of operations which capital may be raised by the issue
of additional shares of its common stock which will result in dilution to the
Seller, and (iii) the Buyer has no arrangements for any financing in place and
there is no assurance that any financing will be completed; 

(f)          
the Shares will be acquired by the Seller for investment for the Seller's own
account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that the Seller has no present intention
of selling, granting any participation in, or otherwise distributing the same in
the United States or to any U.S. Person. The Seller does not have any contract,
undertaking, agreement or arrangement with any person to sell, transfer or grant
participations to such person or to any third person, with respect to any of the
Shares; 

(g)          
the Seller has been afforded access to information about the Buyer and the
Buyer’s financial condition, results of operations, business, properties,
management and prospects sufficient for it to evaluate an investment in the
Shares. The Seller further represents that it has had an opportunity to ask
questions and receive answers from representatives of the Buyer regarding the
terms and conditions of the offerings completed by the Buyer and the business,
properties, prospects and financial condition of the Buyer, each as is necessary
to evaluate the merits and risks of investing in the Shares. The Seller believes
it has received all the information it considers necessary or appropriate for
deciding whether to purchase the Shares. The Seller has had full opportunity to
discuss this information with the Seller’s legal and financial advisers prior to
execution of this Agreement; 

(h)          
the Seller acknowledges that the Buyer will rely on these representations in
completing the issuance of the Shares to the Seller; 

(i)          
the Seller acknowledges that the offering of the Shares by the Buyer has not
been reviewed by the United States Securities and Exchange Commission or any
state securities regulatory authority; 

(j)          
this Agreement has been duly authorized, validly executed and delivered by the
Seller; and 

(k)          
the Seller has satisfied itself as to the full observance of the laws of its
jurisdiction in connection with the purchase of the Shares and the execution of
this Agreement, including (i) the legal requirements within its jurisdiction of
incorporation or residence of the Seller for the purchase of the Shares; (ii)
any local or foreign exchange restrictions applicable to such purchase; (iii)
any governmental or other consents that may need to be obtained; (iv) the income
tax and other tax consequences, if any, that may be relevant to an investment in
the Shares; and (v) any restrictions on transfer applicable to any disposition
of the Shares imposed by the jurisdiction in which the Seller is incorporated or
resident. 

3.17                              
Disclosure. No representation, warranty, or statement made by the Seller
in this Agreement or in any document or certificate furnished or to be furnished
to the Buyer pursuant to this Agreement contains or will contain any untrue
statement or omits or will omit to state any fact necessary to make the
statements contained herein or therein not misleading. The Seller has disclosed
to the Buyer all facts known or reasonably available to the Seller that are
material to the use of the Assets. 

3.18                              
Truth at Closing. All of the representations, warranties and agreements
made by the Seller contained in this Agreement shall be true and correct and in
full force and effect as of the date hereof and as of the Closing Date. 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF BUYER 

To induce the Seller to execute, deliver and perform this
Agreement, and in acknowledgement of the Seller’s reliance on the following
representations and warranties, the Buyer hereby represents and warrants to the
Seller as follows as of the date hereof and as of the Closing Date: 

4.1                              
Organization. The Buyer is a corporation duly incorporated, validly
existing and in good standing under the laws of the State of Nevada, with the
power and authority to conduct its business as it is now being conducted and to
own and lease its properties and assets.

4.2                              
Subsidiary. The Buyer is the sole owner of all of the issued share
capital of Holdco and Infrablue Ltd. The Buyer, Holdco and Infrablue Ltd. are
duly incorporated, validly existing and in good standing under the laws of their
jurisdiction of incorporation, with the power and authority to conduct their
business as it is now being conducted and to own and lease their properties and
assets. 

4.3                              
Power and Authority. The Buyer has the power and authority to execute,
deliver, and perform this Agreement and the other agreements and instruments to
be executed and delivered by it in connection with the transactions contemplated
hereby, and the Buyer has taken all necessary action to authorize the execution
and delivery of this Agreement and such other agreements and instruments and the
consummation of the transactions contemplated hereby. This Agreement is, and,
when such other agreements and instruments are executed and delivered, the other
agreements and instruments shall be, the valid and legally binding obligations
of the Buyer, enforceable in accordance with their respective terms. 

4.4                              
Broker’s or Finder’s Fees. The Buyer has not authorized any person to act
as broker, finder, or in any other similar capacity in connection with the
transactions contemplated by this Agreement. 

4.5                              
No Conflict. Neither the execution and delivery by the Buyer of this
Agreement and of the other agreements and instruments to be executed and
delivered by the Buyer in connection with the transactions contemplated hereby
or thereby, nor the consummation by the Buyer of the transactions contemplated
hereby, will violate or conflict with: (a) any law, regulation, ordinance,
governmental restriction, order, judgment or decree applicable to the Buyer; or
(b) any provision of any charter, bylaw, or other governing or organizational
instrument of the Buyer. 

4.6                              
Capitalization – the authorized capital of the Purchaser consists of
100,000,000 shares of common stock and 5,000,000 shares of preferred stock, of
which 28,724,392 shares of common stock and no shares of preferred stock are
outstanding as at the date of this Agreement; 

4.7                              
Truth at Closing. All of the representations, warranties, and agreements
of the Buyer contained in this Agreement shall be true and correct and in full
force and effect as of the date hereof and as of the Closing Date, except as
otherwise contemplated hereby. 

ARTICLE 5 

COVENANTS OF THE SELLER PRIOR TO CLOSING 

5.1                              
Conduct of Business. From the date hereof until the Closing Date, the
Seller will use its commercially reasonable efforts to: 

	 	(a) 	
      preserve the Assets;

	 	 	 
	 	(b) 	
      use reasonable commercial efforts to preserve and prevent
      any damage to, destruction or loss of any of the Assets, whether or not
      such assets are covered by insurance;

	 	 	 
	 	(c) 	
      take all action necessary to prevent the loss,
      cancellation, abandonment, forfeiture or expiration of any Intellectual
      Property;

	 	 	 
	 	(d) 	
      give to the Buyer, the Buyer’s Solicitors, the Buyer’s
      advisors and other representatives of the Buyer, full access during normal
      business hours to management, properties, books, contracts, commitments
      and records of the Seller;

	 	 	 
	 	(e) 	
      furnish the Buyer with all information concerning the
      Assets as the Buyer may reasonably request;

	 	 	 
	 	(f) 	
      promptly advise the Buyer in writing of any material
      change in the condition of the Assets;

	 	 	 
	 	(g) 	
      provide the Buyer with all information required to enable
      the Buyer to prepare and file all notices and applications required to be
      filed for the purposes of obtaining of any regulatory consent which is
      required in connection with the transactions contemplated
herein;

	 	 	 
	 	(h) 	
      keep in full force and effect any insurance;

	 	 	 
	 	(i) 	
      not enter into nor modify, amend or terminate any
      Contracts, commitments or transactions nor waive, relinquish or assign any
      Contracts or rights or claims under any Contract, pertaining to the
      Assets, except, unless otherwise herein provided, in the ordinary course
      of business;

	 	 	 
	 	(j) 	
      not sell, agree to sell or otherwise dispose of or
      license, pledge or encumber any of the Assets;

	 	 	 
	 	(k) 	
      not sell, transfer, license, sublicense or otherwise
      dispose of any Intellectual Property of the Seller, or amend or modify any
      existing agreements or rights with respect to any Intellectual Property
      of, or used by, the Seller, and in particular in no event shall the Seller
      license on an exclusive basis or sell any Intellectual Property of the
      Seller;

	 	 	 
	 	(l) 	
      not waive the benefits of, agree to modify in any manner,
      terminate, release any person from or knowingly fail to enforce any
      confidentiality or similar agreement to which the Seller is a party or of
      which the Seller is a beneficiary; and

	 	(m) 	
      not take, or agree in writing or otherwise to take, any
      of the actions described in (a) through (m) above, or any action which
      would make any of the representations or warranties of the Seller in this
      Agreement untrue or incorrect in any material respect or prevent the
      Seller from performing its covenants hereunder or result in any of the
      conditions to the Agreement set forth herein not being
  satisfied.

5.2                              
Required Approvals. As promptly as practicable after the date of this
Agreement, the Seller shall make all filings required by applicable law to be
made by it in order to consummate the transactions contemplated hereby. The
Seller shall: 

(a)          
cooperate with the Buyer with respect to all filings that the Buyer elects to
make or is required by law to make in connection with the transactions
contemplated hereby, and

(b)          
cooperate with the Buyer in obtaining any consents contemplated hereby. 

5.3                              
Schedule 14F-1. The Seller will provide to the Buyer the information
reasonably necessary to enable the Buyer to prepare the Schedule 14F-1
Information Statement in order to enable the Buyer to complete the filing and
mailing of the Schedule 14F-1 to the shareholders of the Buyer as requested by
the Buyer but in any event prior to the date that is twelve days from the
Closing Date. 

5.4                              
Necessary Steps. The Seller will to take all actions, steps and
proceedings that are necessary or desirable to approve or authorize, or to
validly and effectively undertake, the execution, delivery and performance of
this Agreement, the other instruments and agreements contemplated hereby and the
completion of the transactions contemplated hereby. 

ARTICLE 6 

COVENANTS OF THE BUYER PRIOR TO CLOSING 

6.1                              
Ordinary Course of Business. The Buyer covenants and agrees with the
Seller that following the execution of this Agreement and until Closing the
Buyer will conduct its business in the ordinary and normal course thereof. 

6.2                              
Merger with Holdco. The Buyer will complete a merger between the
Buyer and Holdco pursuant to which the Name Change will be effected. 

6.3                              
Stock Split. The Buyer will complete the Stock Split. 

6.4                              
Necessary Steps. The Buyer will take all actions, steps and proceedings
that are necessary or desirable to approve or authorize, or to validly and
effectively undertake, the execution, delivery and performance of this Agreement
and the completion of the transactions contemplated hereby. 

ARTICLE 7 

CONDITIONS TO THE SELLER’S OBLIGATIONS 

The obligations of the Seller to be performed hereunder shall
be subject to the satisfaction (or waiver by the Seller) at or prior to the
Closing Date of each of the following conditions: 

7.1                              
Representations and Warranties; Performance. The Buyer shall have
performed and complied in all material respects with the covenants and
agreements contained in this Agreement required to be performed and complied
with by it at or prior to the Closing Date and shall have delivered all
documents required to be delivered at Closing as contemplated hereby, the
representations and warranties of the Buyer set forth in this Agreement shall be
true and correct in all respects as of the date hereof and as of the Closing
Date as though made at and as of the Closing Date (except as otherwise expressly
contemplated by this Agreement), and the execution and delivery of this
Agreement by the Buyer and the consummation of the transactions contemplated
hereby shall have been duly and validly authorized by the Buyer’s Board of
Directors, and the Seller shall have received a certificate to that effect
signed by a senior officer of the Buyer. 

7.2                              
Litigation. No litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Seller,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby. 

7.3                              
Stock Split. The Buyer will have completed the Stock Split. 

7.4                              
Name Change. The Buyer will have merged with Holdco in accordance with
Section 92A.180 of the Nevada Revised Statutes. 

7.5                              
Schedule 14F-1. The Buyer will have filed the will have filed the
Schedule 14F-1 with the SEC and completed the mailing of the Schedule 14F-1 at
least ten days prior to the Closing Date. 

ARTICLE 8 

CONDITIONS TO THE BUYER’S OBLIGATIONS 

The obligations of the Buyer to be performed hereunder shall be
subject to the satisfaction (or the waiver by the Buyer) at or prior to the
Closing Date of each of the following conditions: 

8.1                              
Representations and Warranties; Performance. The Seller shall have
performed and complied in all respects with the covenants and agreements
contained in this Agreement required to be performed and complied with by it at
or prior to the Closing Date and shall have delivered all documents required to
be delivered at Closing as contemplated hereby, the representations and
warranties of the Seller set forth in this Agreement shall be true and correct
in all material respects as of the date hereof and as of the Closing Date as
though made at and as of the Closing Date (except as otherwise expressly
contemplated by this Agreement), and the execution and delivery of this
Agreement by the Seller and the consummation of the transactions contemplated
hereby shall have been duly and validly authorized by the Seller’s Board of
Directors, and the Buyer shall have received a certificate to that effect signed
by a senior officer of the Buyer. 

8.2                              
Consents. All required Consents and Approvals shall have been obtained.

8.3                              
No litigation. No litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Buyer,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby. 

8.4                              
Due Diligence. The Buyer shall have completed its due diligence review of
the Assets and shall have been satisfied with the findings thereof. 

8.5                              
No Material Adverse Change. From the date hereof to the Closing Date,
there shall have been no material adverse change to the Assets, taken as a
whole, as determined by the Buyer in its sole discretion. 

ARTICLE 9 

CLOSING 

9.1                              
Deliveries by the Seller. On Closing, the Seller shall deliver or cause
to be delivered to the Buyer the following: 

	 	(a) 	
      all bills of sale, assignments and transfers, in form and
      content reasonably satisfactory to the solicitors for the Buyer and the
      Seller, appropriate to effectively vest good and marketable title to the
      Assets in the Buyer to the extent contemplated by this Agreement, and
      immediately registrable in all places where registration of such
      instruments is required;

	 	 	 
	 	(b) 	
      all instruments of assignment of Intellectual Property
      appropriate to effectively vest good and marketable title to the
      Intellectual Property in the Buyer to the extent contemplated by this
      Agreement, and immediately registrable in all places where registration of
      such instruments is required;

	 	 	 
	 	(c) 	
      all instruments of assignment of Permits, if any,
      appropriate to effectively vest good and marketable title to the Permits
      in the Buyer to the extent contemplated by this Agreement, and immediately
      registrable in all places where registration of such instruments is
      required;

	 	 	 
	 	(d) 	
      a form of assignment effective to transfer all Contracts
      to the Buyer, in a form to be approved by the Buyer’s solicitor’s, acting
      reasonably;

	 	 	 
	 	(e) 	
      any other documents the Buyer may reasonably require to
      transfer to the Buyer on the Closing Date good and marketable title to the
      Assets, free and clear of all Encumbrances;

	 	 	 
	 	(f) 	
      a certificate of an officer of the Seller certifying the
      truth and accuracy of the representations and warranties and compliance
      with covenants of the Seller in this Agreement, each as of the Closing
      Date;

	 	 	 
	 	(g) 	
      direction from the Seller as to the manner of
      registration of the Shares, and in the event such shares are to be
      registered in a name other than the Seller, an Investment Agreement from
      such registered shareholder in such form as may be required by the Buyer
      and the Buyer’s solicitors, acting reasonably;

	 	 	 
	 	(h) 	
      consents to act as directors of each of following as the
      nominees of the Seller to the Buyer’s board of directors:

	 	 	 
	 		
      (i)       
      Konstantinos Kardiasmenos – CEO/CFO and
director;

	 	(ii) 	
      David Cooper – director.

	 	(i) 	
      certified copy of the resolutions of the directors of the
      Seller approving this Agreement and the transactions contemplated
      hereby;

	 	 	 	 
	 	(j) 	
      originals or copies of all of the Contracts;

	 	 	 	 
	 	(k) 	
      all books and records relating to the Assets;

	 	 	 	 
	 	(l) 	
      all required Consents and Approvals; and

	 	 	 	 
	 	(m) 	
      if the parties:

	 	 	 	 
	 		(i) 	
      settle on a mutually acceptable form of Closing agenda
      prior to the Closing Date, then such other Closing documents as are listed
      on that Closing agenda as Closing documents to be delivered by the Seller;
      or

	 	 	 	 
	 		(ii) 	
      choose not to or are unable to settle on a mutually
      acceptable form of Closing agenda prior to the Closing Date, then such
      other materials that are, in the opinion of the Seller and the Buyer
      acting reasonably, required to be delivered by either the Seller or the
      Buyer in order for it to have met its obligations under this
    Agreement.

9.2                              
Deliveries by Buyer. On Closing, the Buyer shall deliver or cause to be
delivered to the Seller the following: 

	 	(a) 	
      certified copy of the resolutions of the directors of the
      Buyer approving this Agreement and all of the transactions contemplated
      hereunder;

	 	 	 	 
	 	(b) 	
      certified true copy of board resolutions of the Buyer
      approving (i) the increase to number of directors of the Buyer; and (ii)
      appointment of Seller’s nominees to the board of directors of the Buyer to
      fill vacancies;

	 	 	 	 
	 	(c) 	
      share certificate(s) representing the Shares issued in
      the name of the Seller, or as directed by the Seller, endorsed with the
      legends contemplated by this Agreement;

	 	 	 	 
	 	(d) 	
      a certificate of an officer of the Buyer certifying the
      truth and accuracy of the representations and warranties and compliance
      with covenants of the Buyer in this Agreement, each as of the Closing
      Date;

	 	 	 	 
	 	(e) 	
      if the parties:

	 	 	 	 
	 		(i) 	
      settle on a mutually acceptable form of Closing agenda
      prior to the Closing Date, then such other Closing documents as are listed
      on that Closing agenda as Closing documents to be delivered by the Buyer;
      or

	 	 	 	 
	 		(ii) 	
      choose not to or are unable to settle on a mutually
      acceptable form of Closing agenda prior to the Closing Date, then such
      other materials that are, in the opinion of the Seller and the Buyer
      acting reasonably, required to be delivered by the Buyer in order for it
      to have met its obligations under this
Agreement.

ARTICLE 10 

COVENANTS OF THE SELLER AND THE BUYER FOLLOWING CLOSING

10.1                              
Allocation of Purchase Price; Transfer Taxes. 

(a)          
Consistent with applicable tax rules, the Buyer shall allocate the Purchase
Price to the Assets. The Buyer shall prepare and file, in a timely fashion,
forms in a manner consistent with such allocation with the relevant tax
authority. All tax returns and reports filed or prepared by the Buyer and/or the
Seller with respect to the transactions contemplated by this Agreement shall be
consistent with the allocation made by the Buyer under this §10.1(a) .

(b)          
All sales, transfer, and similar taxes and fees (including all recording fees,
if any) incurred in connection with this Agreement and the transactions
contemplated hereby shall be borne by the Seller and the Seller shall file all
necessary documentation with respect to such taxes. 

10.2                              
Further Assurances. Subject to the terms and conditions of this
Agreement, each party agrees to use all of its reasonable efforts to take, or
cause to be taken, all actions and to do or cause to be done, all things
necessary and proper or advisable to consummate and make effective the
transactions contemplated by this Agreement (including the execution and
delivery of such further instruments and documents) as the other party may
reasonably request. 

10.3                              
Nondisclosure of Proprietary Data. The Parties shall hold confidential
and in a fiduciary capacity for the benefit of each other all secret or
confidential information, knowledge or data relating to the other or any of
their affiliated companies, and their respective businesses, which shall not be
or become public knowledge. Neither Party, without the prior written consent of
the other, or as may otherwise be required by law or legal process, shall
communicate or divulge either before or after the Closing Date any such
information, knowledge or data to anyone other than the other Party and those
designated by the other Party in writing. 

ARTICLE 11 

SURVIVAL AND INDEMNITY 

11.1                              
Survival of Representations, Warranties, Etc. Each of the
representations, warranties, agreements, covenants and obligations herein is
material and shall be deemed to have been relied upon by the other party or
parties and shall survive indefinitely after the date hereof and after the
Closing and shall not merge in the performance of any obligation by any party
hereto. All rights to indemnification contained in this Agreement shall survive
the Closing indefinitely. 

11.2                              
Indemnification by the Seller and Buyer. The parties shall indemnify,
defend, and hold harmless each other, and each other’s representatives,
stockholders, controlling persons and affiliates, at, and at any time after, the
Closing, from and against any and all demands, claim, actions, or causes of
action, assessments, losses, damages (including incidental and consequential
damages), liabilities, costs, and expenses, including reasonable fees and
expenses of counsel, other expenses of investigation, handling, and Litigation,
and settlement amounts, together with interest and penalties asserted against,
resulting to, imposed upon, or incurred by a party (the “Indemnified
Party”), directly or indirectly, by reason of, resulting from, or arising in
connection with: (i) any breach of any representation, warranty, or agreement of
the other party (the “Indemnifying Party”) contained in or made pursuant
to 

this Agreement, including the agreements and other instruments
contemplated hereby; (ii) any breach of any representation, warranty, or
agreement of the Indemnifying Party contained in or made pursuant to this
Agreement, including the agreements and other instruments contemplated hereby,
as if such representation or warranty were made on and as of the Closing Date;
(iii) any claim by any person for brokerage or finder’s fees or commissions or
similar payments based upon any agreement or understanding alleged to have been
made by any such person with the Indemnifying Party in connection this Agreement
or any of the transactions contemplated hereby; and (iv) to the extent not
covered by the foregoing, any and all demands, claims, actions or causes of
action, assessments, losses, damages, liabilities, costs, and expenses,
including reasonable fees and expenses of counsel, other expenses of
investigation, handling, and Litigation and settlement amounts, together with
interest and penalties, incident to the foregoing. 

The remedies provided in this §11.2 will not be exclusive of or
limit any other remedies that may be available to the either party to this
Agreement. 

ARTICLE 12 

TERMINATION 

12.1                              
Termination. This Agreement may be terminated at any time prior to the
Closing Date: 

(a)           by
mutual written consent of the Seller and the Buyer; 

(b)           by
either the Seller or the Buyer if (i) there shall have been a material breach of
any representation, warranty, covenant or agreement set forth in this Agreement,
on the part of the Buyer, in the case of a termination by the Seller, or on the
part of the Seller, in the case of a termination by the Buyer, which breach
shall not have been cured, in the case of a representation or warranty, prior to
Closing or, in the case of a covenant or agreement, within ten (10) business
days following receipt by the breaching party of notice of such breach, or (ii)
any permanent injunction or other order of a court or other competent authority
preventing the consummation of the transactions contemplated hereby shall have
become final and non-appealable; or 

(c)           by
either the Seller or the Buyer on 10 days written notice, if the transactions
contemplated hereby shall not have been consummated on or before November 30,
2007; provided, however, that the right to terminate this Agreement pursuant to
this §12.1(c) shall not be available to any party whose failure to fulfill any
obligation under this Agreement has been the cause of, or resulted in, the
failure of the consummation of the transactions contemplated hereby to have
occurred on or before the aforesaid date. 

12.2                              
Effect of Termination. Each party’s right of termination under §12.1 is
in addition to any other rights it may have under this Agreement or otherwise,
and the exercise of a right of termination will not be an election of remedies.
If this Agreement is terminated pursuant to §12.1, unless otherwise specified in
this Agreement, all further obligations of the parties under this Agreement will
terminate; provided, however, that if this Agreement is terminated by a party
because of the breach of this Agreement by the other party or because one or
more of the conditions to the terminating party’s obligations under this
Agreement is not satisfied as a result of the other party’s failure to comply
with its obligations under this Agreement, the terminating party’s rights to
pursue all legal remedies will survive such termination unimpaired.

ARTICLE 13 

MISCELLANEOUS 

13.1                              
Entire Agreement. This Agreement, including the Schedules hereto, and the
other certificates, agreements, and other instruments to be executed and
delivered by the parties in connection with the transactions contemplated
hereby, constitute the sole understanding of the parties with respect to the
subject matter hereof and supersede all prior oral or written agreements with
respect to the subject matter hereof. 

13.2                              
Purchaser’s Solicitors. The Seller acknowledges and agrees that the
Buyer’s Solicitors have acted as counsel only to the Buyer and that the Buyer’s
Solicitors are not protecting the rights and interests of any other Party and
that the Seller has had the opportunity to seek and was not prevented from
seeking independent legal advice before the execution and delivery of this
Agreement and all other agreements, certificates or instruments to be executed
or delivered by the Seller pursuant to or contemplated by this Agreement. If the
Seller did not avail itself of the opportunity to seek independent legal advice
before signing this Agreement, the Seller did so voluntarily without any undue
pressure and agrees that such failure to obtain independent legal advice will
not be used by the Seller as a defence to the enforcement by the Buyer of the
obligations of the Seller under this Agreement or such other agreements,
certificates or instruments 

13.3                              
Parties Bound by Agreement; Successors and Assigns. The terms,
conditions, and obligations of this Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective successors and assigns.

13.4                              
Amendments and Waivers. No modification, termination, extension, renewal
or waiver of any provision of this Agreement shall be binding upon a party
unless made in writing and signed by such party. A waiver on one occasion shall
not be construed as a waiver of any right on any future occasion. No delay or
omission by a party in exercising any of its rights hereunder shall operate as a
waiver of such rights. 

13.5                              
Severability. If for any reason any term or provision of this Agreement
is held to be invalid or unenforceable, all other valid terms and provisions
hereof shall remain in full force and effect, and all of the terms and
provisions of this Agreement shall be deemed to be severable in nature. If for
any reason any term or provision containing a restriction set forth herein is
held to cover an area or to be for a length of time which is unreasonable, or in
any other way is construed to be too broad or to any extent invalid, such term
or provision shall not be determined to be null, void and of no effect, but to
the extent the same is or would be valid or enforceable under applicable law,
any court of competent jurisdiction shall construe and interpret or reform this
Agreement to provide for a restriction having the maximum enforceable area, time
period and other provisions (not greater than those contained herein) as shall
be valid and enforceable under applicable law. 

13.6                              
Attorney’s Fees. Should any party hereto retain counsel for the purpose
of enforcing, or preventing the breach of, any provision hereof including, but
not limited to, the institution of any action or proceeding, whether by
arbitration, judicial or quasi-judicial action or otherwise, to enforce any
provision hereof or for damages for any alleged breach of any provision hereof,
or for a declaration of such party’s rights or obligations hereunder, then,
whether such matter is settled by negotiation, or by arbitration or judicial
determination, the prevailing party shall be entitled to be reimbursed by the
losing party for all costs and expenses incurred thereby, including, but not
limited to, reasonable attorneys’ fees for the services rendered to such
prevailing party. 

13.7                              
Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original and all of
which shall constitute the same instrument. 

13.8                              
Headings. The headings of the sections and paragraphs of this Agreement
are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction hereof. 

13.9                              
Expenses. Except as specifically provided herein, the Seller and the
Buyer shall each pay all costs and expenses incurred by it or on its behalf in
connection with this Agreement and the transactions contemplated hereby,
including fees and expenses of its own financial consultants, accountants, and
counsel. 

13.10                              
Notices. All notices, requests, demands, claims, and other communications
which are required or may be given under this Agreement shall be in writing and
shall be deemed to have been duly given when received if by personal delivery,
on the next business day if by facsimile or other similar means of electronic
communication or five business days after such notice, request, demand, claim or
other communication is sent, if sent by registered or certified mail, return
receipt requested, postage prepaid; and, in any case, all such communications
must be addressed to the intended recipient at the address set forth on the
first page of this Agreement. Any party may send any notice, request, demand,
claim, or other communication hereunder to the intended recipient at the address
set forth above using any other means, but no such notice, request, demand,
claim, or other communication shall be deemed to have been duly given unless and
until it actually is received by the intended recipient. Any party may change
the address to which notices, requests, demands, claims, and other
communications hereunder are to be delivered by giving the other party notice in
the manner herein set forth. 

13.11                              
Governing Law. This Agreement shall be construed in accordance with and
governed by the laws of the State of Nevada without giving effect to the
principles of choice of law thereof. 

13.12                              
Arbitration. Any dispute arising under or in connection with any matter
related to this Agreement or any related agreement shall be resolved exclusively
by arbitration. The arbitration shall be in conformity with and subject to the
applicable rules and procedures of the American Arbitration Association. All
parties agree to be (1) subject to the jurisdiction and venue of the arbitration
in the State of Nevada, (2) bound by the decision of the arbitrator as the final
decision with respect to the dispute and (3) subject to the jurisdiction of the
Superior Court of the State of Nevada for the purpose of confirmation and
enforcement of any award.

13.13                              
References, Etc. 

(a)          
Whenever reference is made in this Agreement to any Article, Section, or
paragraph, such reference shall be deemed to apply to the specified Article,
Section or paragraph of this Agreement. 

(b)          
Wherever reference is made in this Agreement to a Schedule, such reference shall
be deemed to apply to the specified Schedule attached hereto, which are
incorporated into this Agreement and form a part hereof. All terms defined in
this Agreement shall have the same meanings in the Schedules attached hereto.

(c)          
Any form of the word “include” when used herein is not intended to be
exclusive (e.g., “including” means “including, without
limitation”). 

13.14                              
No Strict Construction. The language used in this Agreement will be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction will be applied against any person.

13.15                              
No Third Party Beneficiary Rights. No provision in this Agreement is
intended or shall create any rights with respect to the subject matter of this
Agreement in any third party. 

13.16                              
Such Other Acts. The parties hereto shall do all such things, and take
such acts and execute such documents as are necessary to give effect to the
transactions contemplated hereby. 

13.17                              
Electronic Means. Delivery of an executed copy of this Agreement by
electronic facsimile transmission or other means of electronic communication
capable of producing a printed copy will be deemed to be execution and delivery
of this Agreement as of the date first indicated above. 

IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed on its behalf as of the date first indicated above.

OXON LIFE SCIENCE LIMITED 

Per:      /s/ Graham May

           
___________________________________________
           
Authorized Signatory 
Name: Graham May for Millers Associates Ltd

Title:   Company Secretary 

INFRABLUE (US) INC. 

           
  /s/ Mitchell Johnson 

  Per:     
___________________________________________
           
Authorized Signatory 
Name: Mitchell Johnson 
Title:  
President 

NEXTGEN BIOSCIENCE INC. 

Per:     /s/ Mitchell
Johnson 
           
___________________________________________
           
Authorized Signatory 
Name: Mitchell Johnson 
Title:  
President 

SCHEDULE A 

ASSETS PURCHASED 

The Assets purchased are comprised of the following and all
related intellectual and other property: 

Contracts 

None 

Permits and Licences 

None 

Technology 

(a)          
Use of Prostataginin for treatment of prostate cancer 

The invention relates to the use of short polypeptides for
treatment of cancers and more particularly the treatment of prostate cancer (see
full description in patent filing attached hereto). 

(b)          
Use of tetanolic for treatment of breast cancer 

The invention relates to the use of lipids characterized by the
  general formula I for treatment of cancers and more particularly for treatment
  of breast cancer (see full description in patent filing attached hereto).

Trade Marks 

None 

Patent Applications 

EPO7118294.3 – Title: “Use of prostaginin for the treatment of
prostate cancer” Filer: NextGen Biosciences (GB); European Patent Office
submission #286428 October 11, 2007-10-11. 

EPO7118294.4 – Title: “Use of tetanolic for treatment of breast
cancer” Filer: NextGen Biosciences (GB); European Patent Office submission
#286444 October 11, 2007-10-11. 

Internet Domain Names 

www.nextgenbioscience.com

Copyright 

None 

Other Assets 

None 

SCHEDULE B 

DISCLOSURE SCHEDULE 

1.1(f) Consents and Approvals Required: 

          None

3.10(d) Agreements Pertaining to use of Intellectual Property:

          None

SCHEDULE C 

ASSIGNMENT OF INTELLECTUAL PROPERTY 

WHEREAS OXON LIFE SCIENCE LIMITED, a company
incorporated in Nevis, British West Indies and having an address at Donegan,
Zetlands, Nevis, St Kitts & Nevis, West Indies (the “Assignor”), is
the owner of all right, title and interest in and to all of the Assets, as such
term is defined in an Asset Purchase Agreement effective as of October 12, 2007
by and between the Assignor and INFRABLUE (US) INC. (the
“Assignee”); 

          AND
WHEREAS INFRABLUE (US) INC., a company incorporated under the laws of
State of Nevada and having a business address at 3.19, 130 Shaftesbury Avenue,
London, England W1D 5EV, is desirous of securing the entire right, title and
interest in and to the Assets; 

          NOW,
THEREFORE, be it known that, for good and valuable consideration, the
sufficiency and receipt of which is hereby acknowledged, we, as Assignor, have
sold, assigned, transferred, and set over, and do hereby sell, assign, transfer,
and set over unto the Assignee or its designees, and their lawful successors and
assigns, our entire right, title, and interest in and to the Assets. 

          AND, WE
HEREBY further covenant and agree that we, as Assignor, will, without further
consideration, communicate with the Assignee, its successors and assigns, any
facts known to us respecting the Assets and testify in any legal proceeding,
sign all lawful papers when called upon to do so, execute and deliver all papers
that may be necessary or desirable to perfect the title to the Assets in said
Assignee or designee, and their successors and assigns, understanding that any
expense incident to the execution of such papers shall be borne by the Assignee,
its successors and assigns. 

EXECUTED this 12th day of
October, 2007. 

IN TESTIMONY WHEREOF, We have hereunto set our hands. 

OXON LIFE SCIENCE LIMITED 

Per:       /s/ Graham
May 
            ________________________________
Name:
Graham May for Millers Associates Limited 
Title:   Company
Secretary 

WITNESS: 

On this 12th day of October,
2007, before me personally appeared Graham May, who is known to me to be
the individual who executed the foregoing instrument on behalf of the Assignor
and who acknowledged to me that he/she executed the same and was duly authorized
by the Assignor to do so. 

	Signed, Sealed and Delivered in the presence of: 	) 	 
	  	) 	 
	/s/ Tryphonas Stavrou
    	) 	 
	Witness (Signature) 	) 	 
	Tryphonas Stavrou
    	) 	 
	Name (please print) 	) 	 
	  	) 	 
	36 Spital Square	) 	 
	Address 	) 	 
	 	)	 
	London, EI 6DY	) 	 
	City, Province 	) 	 
	  	) 	 
	Accountant 	) 	 
	Occupation 	)

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