Document:

ex10-2.htm

Exhibit 10.2

    

     

    QUITCLAIM
      AGREEMENT

    

    

    This
      Quitclaim Agreement is entered into on January 8, 2008 (the “Effective Date”). For a
      purchase price of One Dollar ($1.00) the receipt and sufficiency of which are
      hereby acknowledged, American Nano Silicon Technology, Inc., a California
      corporation (the
“Company”)
      does hereby
      sell, convey, assign, transfer, vest and deliver to South Bay Financial
      Solutions, Inc., a Nevada corporation and a wholly-owned subsidiary of the
      Company, (“SBFS), all
      of its rights, title, and interest in and to the assets as more particularly
      defined in Exhibit
      A, attached hereto, (the “Assets”), including
      without
      limitation any and all, copyrights, trademarks, and other intellectual property
      rights embodied therein, wherever and however arising, in connection therewith
      or otherwise pertaining thereto, and all goodwill related thereto intellectual
      property rights (collectively, the “Proprietary Rights”) and the
      Company does hereby acknowledge the receipt of and accept delivery of the
      Assets.

    

    1.           
      SBFS acknowledges and agrees that the Company does not warrant it owns the
      Assets and is transferring only such rights, title and interest in the Assets
      as
      may be held by the Company. SBFS further acknowledges that it is taking
      possession and ownership of the Assets in their “AS IS WHERE IS” condition and
      that if any portions of the Assets are found defective by SBFS, the
      Company  shall have no obligation to remedy such defects nor any other
      liability or obligation with respect thereto. THE COMPANY MAKES AND SBFS
      RECEIVES NO WARRANTY, EXPRESSED OR IMPLIED, AND EXPRESSLY EXCLUDES ALL
      WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
      PURPOSE.  THE COMPANY SHALL HAVE NO LIABILITY OF ANY NATURE, INCLUDING
      THOSE OBLIGATIONS UNDER THIS AGREEMENT, FOR CONSEQUENTIAL, EXEMPLARY, OR
      INCIDENTAL DAMAGES EVEN IF IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
      DAMAGES.

     

    2.           
      This Quitclaim Agreement shall be governed by and construed in accordance with
      the internal laws of the State of California regardless of the laws that might
      otherwise govern under principles of conflict of laws applicable
      thereto.

     

    IN
      WITNESS WHEREOF, the Company and SBFS have executed this Quitclaim Agreement
      as
      of the Effective Date.

     

    
      	
              “COMPANY”

              
              

              American
                Nano Silicon Technology, Inc.,

               a
                California corporation

              
              

              /s/
                Pu Fachun

              By:  Pu
                Fachun

              Its:  President
                and CEO

              
              

            	
              “SBFS”

              South
                Bay Financial Solutions,
                Inc.,

              a
                Nevada corporation

              
              

                    
                /s/ Steve
                Crane

                    
                By:  Steve Crane

                    
                Its:  Director

              
              

            

    

    
      
        
          QUITCLAIM
            AGREEMENT

          JANUARY
            8, 2008

          1]

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    
      	
               

            	
              DESCRIPTION
                OF
                ASSETS

            

    

    The
      Assets are as follows :

     

    
      	
              1.  

            	
              All
                of  the computer equipment, telephone equipment, office
                equipment and other personal property used in conducting the Company’s
                business, as such business was conducted prior to the closing of
                that
                certain that certain Stock Purchase and Share Exchange Agreement,
                dated as
                May 24, 2007 entered into by the Company and certain other parties,
                and
                located as of the date hereof at SBFS’s headquarters at 1650 South Pacific
                Coast Highway, Suite 308, Redondo Beach, CA
                90277.

            

    

     

    
      	
              2.  

            	
              15,400
                shares of common stock in Axium Technologies Inc. evidenced by Certificate
                No. 1102

            

    

     

    
      	
              3.  

            	
              9,225,691
                shares of common stock in Stronghold Industries, Inc. evidenced by
                Certificate No. 1153

            

    

     

    
      	
              4.  

            	
              Any
                remaining interest held by the Company in the following
                automobiles:

            

    

     

                 2004
      Porsche C5, Calif. License Plate: 5PIX001, VIN# WP0CA29924S651213

     

    
      	
               

            	
                         
                5.

            	
              $99.53
                in the Company’s account at Wells Fargo Bank, Account
                

            

    

    No.
      0433-035748.

    

     

    

     

    

    
      
        
          QUITCLAIM
            AGREEMENT

          JANUARY
            8, 2008

          2]ex10-3.htm

Exhibit 10.3

    SPIN-OFF
      AGREEMENT

    

    

    THIS
      SPIN-OFF AGREEMENT (the "Agreement"), is entered into
      as of the 8th
      day of
      January 2008 (the “Effective
      Date”), by and between Steven Crane, an adult
      individual residing in County of Los Angeles, State of California and Gregg Davis, an adult
      individual residing in the County of Los Angeles, State of California
      (individually, each is a “Purchaser” and collectively
      the “Purchasers”),
South
      Bay Financial Solutions,
      Inc., a Nevada corporation (“SBFS”), a Nevada
      corporation
      (“SBFS”), and a
      wholly-owned subsidiary of the
      Seller and American Nano
      Silicon Technology, Inc., a corporation organized and validly existing
      under the laws of the State of California (the "Seller").

    

    WHEREAS,
      the Seller, the Purchasers and certain other parties named therein entered
      into
      that certain Stock Purchase and Share Exchange Agreement, dated as May 24,
      2007
      (the “Exchange
      Agreement”).

    

    WHEREAS,
      the Purchasers were the majority shareholders and management of the Seller
      previous to selling all of their shares of Seller and resigning their management
      positions pursuant to the Exchange Agreement.

    

    WHEREAS,
      the Exchange Agreement
      contemplated the transfer of all of the assets of the Seller’s business, as such
      business was conducted prior to the closing of the Exchange
      Agreement  (the “COHQ
      Business”)
to
      SBFS.

    

    Whereas,
      the Seller has transferred its rights to assets of the COHQ Business (the
“Transferred Assets”)
      to SBFS prior to the Effective Date.

    

    WHEREAS,
      subject to the terms and conditions contained herein, the Purchasers desire
      to
      purchase, and the Seller desires to sell Three Million (3,000,000) shares of
      common stock of SBFS, constituting all of the issued and outstanding shares
      of
      SBFS, in consideration of the Purchasers assuming responsibility for the
      liabilities of the COHQ Business.

    

    NOW,
      THEREFORE, in consideration of the foregoing premises and the covenants and
      agreements set forth herein, and for other good and valuable consideration,
      the
      receipt and sufficiency of which are hereby acknowledged, the parties hereto,
      intending to be legally bound, hereby agree as follows:

    

    
      	
                         1.

            	
              Share
                Purchase and Sale.  Upon
                execution of this Agreement, the Purchasers hereby irrevocably agree
                to
                purchase Three Million (3,000,000) shares of common stock of
                SBFS  (the “Shares”)  owned
                of record by the Seller, and the Seller hereby irrevocably agrees
                to sell
                and convey to the Purchasers all of the Shares, all subject to and
                in
                accordance with the terms and conditions herein contained.
                

            

    

    

    
      	
              2.  

            	
              Purchase
                Price.  As
                consideration for
                the Shares, SBFS (i) hereby assumes any and all liabilities of the
                Seller
                arising out of, based upon, or in connection with the COHQ
                Business
                or any actions or omissions by the Seller prior to the closing of
                the
                transactions of the Exchange Agreement, or arising out of the actions
                or
                omissions of Purchasers, and SBFS and the Purchasers (ii) provide the indemnifications
                described in Section 3 of this
                Agreement,

            

    

    

    
      	
              3.  

            	
              Indemnification
                by Purchasers and SBFS.  Commencing
                on the Effective Date, SBFS and each Purchaser, jointly and severally,
                agrees to indemnify and hold harmless the Seller and its officers,
                directors, stockholders and agents, (but excluding the Purchasers)
                against
                any and all losses, liabilities, damages, and expenses whatsoever
                (which
                shall include for all purposes, but not be limited to, reasonable
                counsel
                fees and any and all expenses whatsoever incurred in investigating,
                preparing, or defending against any litigation, commenced or threatened,
                or any claim whatsoever, and any and all amounts paid in settlement
                of any
                claim or litigation) as and when incurred arising out of, based upon,
                or
                in connection with the COHQ Business or any actions or omissions
                by the
                Seller prior to the closing of the transactions of the Exchange
                Agreement.  The foregoing agreement to indemnify shall be in
                addition to any liability Purchasers and/or SBFS may otherwise have
                to the
                Seller, including liabilities arising under this
                Agreement.

            

    

    

    
      	
                        
                4.

            	
              Representations
                and Warranties of the Seller.  The
                Seller
                hereby represents and warrants to the Purchaser, as of the date hereof,
                the following: 

            

    

    

    
      	
              (a)  

            	
              the
                Seller is a corporation duly organized and validly existing under
                the laws
                of the State of California;

            

    

    

    
      	
              (b)  

            	
              to
                the knowledge of the Seller’s current management and without duty of
                enquiry, the Seller is not bound by or subject to any contract, agreement,
                court order or judgment, administrative ruling, law, regulation or
                any
                other item which prohibits or restricts the Seller from entering
                into and
                performing this Agreement in accordance with its terms, or requiring
                the
                consent of any third party prior to the entry into or performance
                of this
                Agreement by the Seller in accordance with its
                terms;

            

    

    

    
      	
              (c)  

            	
              no
                broker, dealer or other party has provided services in connection
                with
                this transaction for which any commission or other compensation is
                owed;
                and

            

    

    

    
      	
                        
                5.

            	
              No
                Representations and Warranties of the Seller regarding SBFS.  The
                Seller
                makes no representations or warranties, either express or implied,
                regarding SBFS or the Shares to the Purchasers and neither the Seller
                nor
                any of its officers,
                directors, stockholders and agents shall have any liability to the
                Purchasers or SBFS or any of its officers, directors,
                stockholders and agents other than the obligation to sell the Shares
                to
                the Purchasers pursuant to this Agreement .
                

            

    

    

    
      	
                         6.

            	
              Representations
                and Warranties of the Purchasers.  The
                Purchasers hereby represents and warrant to the Seller, as of the
                date
                hereof, the following: 

            

    

    

    
      	
               

            	
              (a)

            	
              each
                Purchaser is an adult individual residing in the State of California,
                and
                has full power and capacity to enter into, execute and perform this
                Agreement, which Agreement, once executed by the Purchasers, shall
                be the
                valid and binding obligation of each Purchaser, enforceable against
                such
                party by any court of competent jurisdiction in accordance with its
                terms;
                

            

    

    

    
      	
               

            	
              (b)

            	
              neither
                Purchaser is bound by or subject to any contract, agreement, law,
                court
                order or judgment, administrative ruling, regulation or any other
                item
                which prohibits or restricts such Purchaser from entering into and
                performing this Agreement in accordance with its terms, or requiring
                the
                consent of any third party prior to the entry into or performance
                of this
                Agreement in accordance with its terms by such party;
                

            

    

    

    
      	
               

            	
              (c)

            	
              with
                respect to the Shares being acquired by the Purchasers:
                

            

    

    

    
      	
               

            	
              (i)

            	
              the
                Purchasers are acquiring the Shares for their own accounts, and not
                with a
                view toward the subdivision, resale, distribution, or fractionalization
                thereof; the Purchasers have no contract, undertaking, or arrangement
                with
                any person to sell, transfer, or otherwise dispose of the Shares
                (or any
                portion thereof hereby subscribed for), and have no present intention
                to
                enter into any such contract, undertaking, agreement or arrangement;
                

            

    

    

    
      	
               

            	
              (ii)

            	
              the
                purchase of the Shares by the Purchasers is not the result of any
                form of
                general solicitation or general advertising;

            

    

    

    
      	
               

            	
              (iii)

            	
              the
                Purchasers hereby acknowledge that: (A) the offering of the Shares
                was
                made only through direct, personal communication between the Purchasers
                and the Seller; (B) the Purchasers have had full access to information
                concerning SBFS; and (C) the Purchasers understand and acknowledge
                that a
                purchaser of the Shares must be prepared to bear the economic risk
                of such
                investment for an indefinite period because the Shares have not been
                registered under the Securities Act of 1933 (the "Act") or any
                state
                securities act (nor passed upon by the SEC or any state securities
                commission) and cannot be sold unless they are subsequently so registered
                or qualified, or are otherwise subject to any applicable exemption
                from
                such registration requirements; 

            

    

    

    
      	
               

            	
              (d)

            	
              each
                Purchaser is an "accredited investor" as
                such term is defined in Rule 501 of Regulation D promulgated by the
                Securities and Exchange Commission under the Act;
                

            

    

    

    
      	
               

            	
              (e)

            	
              the
                Purchasers have consulted with an attorney regarding legal matters
                concerning the purchase and ownership of the Shares, and with a tax
                advisor regarding the tax consequences of purchasing such Shares;
                

            

    

    

    
      	
               

            	
              (f)

            	
              no
                broker, dealer or other party has provided services in connection
                with
                this transaction for which any commission or other compensation is
                owed;
                

            

    

    

    
      	
               

            	
              (g)

            	
              all
                of the assets pertaining to the COHQ Business have been transferred
                or
                quitclaimed to SBFS prior to the Effective Date; and
                

            

    

    

    
      	
               

            	
              (i)

            	
              the
                Company has no remaining accounts payable pertaining to the COHQ
                Business,
                and the Company does not remain subject to the obligations of any
                agreement pertaining to the COHQ Business or any assets of the COHQ
                Business, including without any limitation, the Transferred Assets.
                

            

    

    

    
      	
              6.

            	
              General
                Provisions. 

            

    

    

    
      	
              (a)  

            	
              Notices.  All
                notices, requests, demands and other communications to be given hereunder
                shall be in writing and shall be deemed to have been duly given on
                the
                date of personal service or transmission by fax if such transmission
                is
                received during the normal business hours of the addressee, or on
                the
                first business day after sending the same by overnight courier service
                or
                by telegram, or on the third business day after mailing the same
                by first
                class mail, or on the day of receipt if sent by certified or registered
                mail, addressed as set forth below, or at such other address as any
                party
                may hereafter indicate by notice delivered as set forth in this Section
                6(a):

            

    

    

    
      	
               

            	
                 Purchasers
                & SBFS: 

            

    

    

    
      	
               

            	
              Mr.
                Steven Crane 

            

    

    
      	
               

            	
              Mr.
                Gregg Davis 

            

    

    
      	
               

            	
              1650
                South Pacific Coast Highway, Suite 308

            

    

    
      	
               

            	
              Redondo
                Beach, CA 90277 

            

    

    
      	
               

            	
              Attn:
                Mr. Steve Crane 

            

    

    
      	
               

            	
              Telephone:
                (310) 683-0404 

            

    

    
      	
               

            	
              Fax:
                (310) 540--7562 

            

    

    

       Sellers:

    

    
      	
               

            	
              American
                Nano Silicon Technology, Inc. 

            

    

    
      	
               

            	
              c/o
                Huakang Zhou 

            

    

    
      	
               

            	
              18
                Kimberly Court 

            

    

    
      	
               

            	
              East
                Hanover, NJ 07936 

            

    

    
      	
               

            	
              Telephone:
                (973) 462-8777 

            

    

    
      	
               

            	
              Fax:
                (973) 966-8870 

            

    

    

    
      	
               

            	
              (b)

            	
              Binding
                Agreement; Assignment.  This
                Agreement shall constitute the binding agreement of the parties hereto,
                enforceable against each of them in accordance with its
                terms.  This Agreement shall inure to the benefit of each of the
                parties hereto, and their respective successors and permitted assigns;
                provided, however,
                that this
                Agreement may not be assigned (whether by contract or by operation
                of law)
                by the Purchaser without the prior written consent of the Seller,
                which
                may be withheld or delayed in the Seller’s sole discretion.
                

            

    

    

    
      	
               

            	
              (c)

            	
              Entire
                Agreement.  This
                Agreement constitutes the entire and final agreement and understanding
                between the parties with respect to the subject matter hereof and
                the
                transactions contemplated hereby, and supersedes any and all prior
                oral or
                written agreements, statements, representations, warranties or
                understandings between the parties, all of which are merged herein
                and
                superseded hereby. 

            

    

    

    
      	
               

            	
              (d)

            	
              Waiver.  No
                waiver
                of any provision of this Agreement shall be deemed to be or shall
                constitute a waiver of any other provision, whether or not similar,
                nor
                shall any waiver constitute a continuing waiver.  No waiver
                shall be binding unless executed in writing by the party making the
                waiver. 

            

    

    

    
      	
               

            	
              (e)

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

            

    

    

    
      	
               

            	
              (f)

            	
              Further
                Documents and Acts.  Each
                party
                agrees to execute such other and further documents and to perform
                such
                other and further acts as may be reasonably necessary to carry out
                the
                purposes and provisions of this Agreement.

            

    

    

    
      	
               

            	
              (g)

            	
              Governing
                Law; Venue.  This
                Agreement shall be governed by and construed in accordance with the
                internal laws of the State of California, without giving effect to
                the
                principles of conflicts of laws applied thereby.  The parties
                hereby accept the exclusive jurisdiction of the courts of the State
                of
                California sitting in and for the County of Orange.
                

            

    

    

    
      	
               

            	
              (h)

            	
              Severable
                Provisions.  The
                provisions of this Agreement are severable, and if any one or more
                provisions is determined to be illegal, indefinite, invalid or otherwise
                unenforceable, in whole or in part, by any court of competent
                jurisdiction, then the remaining provisions of this Agreement and
                any
                partially unenforceable provisions to the extent enforceable in the
                pertinent jurisdiction, shall continue in full force and effect and
                shall
                be binding and enforceable on the parties.

            

    

    

    
      	
               

            	
              (i)

            	
              No
                Third Party Beneficiaries.  This
                Agreement is intended for the benefit of the parties hereto and their
                respective permitted successors and assigns and is not for the benefit
                of,
                nor may any provision hereof be enforced by, any other person.
                

            

    

    

    

    SIGNATURES
      ON NEXT PAGE

    

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      and year first above written.

    

    

    THE
      PURCHASERS:                                                                                     
WITNESS:

    

    

    /s/
      Steven
      Crane                                                                                          

    Steven
      Crane                                                                                     

    

    

    /s/
      Gregg
      Davis                                                                                           

    Gregg
      Davis                                                                                     

    

    

    SBFS:                                                                                             
      WITNESS:

    

    South
      Bay Financial Solutions, Inc.,

    a
      Nevada corporation

    

    

    /s/
      Steven
      Crane                                                                                         

    By: Steven
      Crane                                                                                             
__________________________

    Its:  Director

    

    

    THE
      SELLER:                                                                                         
WITNESS:

    

    American
      Nano Silicon Technology, Inc.,

    a
      California corporation

    

    

    /s/
      Pu
      Fachun                                                                                            

    By:
      Pu
      Fachun                                                                                     
__________________________

    Its:  President
      and CEO

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