Document:

Exhibit 10.11

	 	 
	
        April
        10, 2018

         

        Mr.
        Jeff Mallmes

        Quantum
        Energy Inc.

        jeff.mallmes@gmail.com

        250-253-7207 

        Sicamous, BC Canada

         
	

 

Inductance Energy Corporation

 

RE:
IEC- Arizona Proposal – Binding Letter of Intent 

Arizona Training Operations and Physical
Laboratory

7543 E Tierra Buena Lane

Scottsdale, Arizona
85260

 

Water Science Laboratory

7464 E Tierra Buena Lane

Suite 101

Scottsdale,
Arizona 85260

 

Nevada Plant and Physical Laboratory

1280 Rockpebble

North Las Vegas, Nevada 89030

 

Binding
Letter of Intent (“BLOI”) shall serve as our offer to you to conduct
complete due diligence (the “Due Diligence Examination”) in connection with the possible merger of IEC-Arizona
(to be formed “Private”) and Quantum Energy, Inc. (“QEGY”), and the execution of a License
Agreement granting QEGY the exclusive right within the state of Arizona to manufacture and distribute IEC Earth Engine products
and services. Private will be 100% owned by Inductance Energy Corporation, a Wyoming corporation (“IEC”). The
parties agree as follows:

 

		A.	IEC hereby agrees to
conduct and complete the Due Diligence Examination on or before the target date of May 31, 2018. If IEC is reasonably satisfied
with the information it learns in the Due Diligence Examination, IEC shall so advise QEGY in writing within 5 business days from
the completion of the Due Diligence Examination that the results of the Due Diligence Examination did not reveal any material adverse
issues or problems or material undisclosed liabilities regarding QEGY (the “Acceptance
Notice”).

 

		B.	At
                                         such time as IEC gives QEGY the Acceptance Notice, IEC and QEGY shall negotiate in good
                                         faith to complete and close a typical “reverse” merger (the “Merger”)
                                         of Private’s operations and assets, into a publicly traded entity, QEGY,
                                         with QEGY being the surviving entity, including the prompt negotiation and execution
                                         of a definitive agreement relating to those matters (the “Definitive
                                         Agreement”) and to execute the Definitive Agreement on or prior to August
                                         31, 2018, (the “Preferred
                                         Closing Date”).

 

    1

     

    

 

		(1)	IEC and QEGY further
agree that as a condition to the closing of the Merger, upon the successful completion of the Due Diligence Examination of QEGY
and the delivery of the Acceptance Notice, IEC shall raise from investors in the aggregate up to a total of $50,000,000 (the
“Total Capital Investment”) and that the Merger shall not close unless
and until the Total Capital Investment is raised as evidenced by written confirmation from the escrow agent. IEC’s Total
Capital Investment funding will commence after the Due Diligence period target of May 31, 2018 and will be fully funded no later
than the close of business on December 31, 2018 or 180 days following approval of the S-l filing, whichever date is later and may
be extended by written agreement of QEGY and IEC.

 

		i.	Provided the Total Capital Investment is funded by IEC as set forth above, QEGY shall issue to
IEC such number of shares of QEGY common stock as shall constitute 60% of the then total issued and outstanding shares of QEGY
common stock, subject to paragraph 8 below.

 

		ii.	Upon IEC successfully
raising the Total Capital Investment, IEC/Quantum will provide the necessary funds required to prove out the viability of the development
of the refinery (the “Refinery”) currently planned to be developed
in Stoughton Saskatchewan, Canada including (a) obtaining environmental and engineering studies to prove the viability of the intended
site, (b) if the site is determined to be viable, to acquire the land, (c) obtain required permits and (d) pay other related costs.

 

Although the parties are not yet ready
to enter into the Definitive Agreement, the parties would like to set in this BLOI certain material issues that will be addressed
in the Definitive Agreement. It is expressly understood that this BLOI constitutes a binding obligation of the parties. Until the
parties execute the Definitive Agreement, this BLOI shall constitute a valid and binding agreement of the parties hereto.

 

Our offer — IEC will bear the following
costs of the Due Diligence Examination on QEGY:

 

	1.	SEC and legal review of QEGY by Dickenson Wright and/or Jerold Siegan	$45,000 to $55,000.00
	 	 	 
	2.	Formation of clean Private	$3,000 to $6,000.00
	 	 	 
	3.	Book audit of Private	$5,000.00
	 	 	 
	4.	Have audit of QEGY reviewed for IEC by Price Waterhouse	$2,500.00
	 	 	 
	5.	Have legal matters reviewed for IEC by Dickinson Wright and/or Jerold Siegan	$2,500.00
	 	 	 
	6.	Lobbying — Teddy Eynon -- Dickinson Wright — Wash DC	$25,000.00
	 	 	 
	7.	Accelerated Depreciation funding tax plan — Whitney Sorrell	$30,000.00

 

    2

     

    

 

IEC and QEGY Compensation (Should all due
diligence requirements be met):

 

		8.	In the event IEC does not raise the Total Capital Investment, IEC shall notify QEGY and IEC shall
only be responsible for its costs to date, and all IEC rights to QEGY shall expire. IEC shall continue to use its best efforts
to raise additional Capital Investment with the goal of funding the Total Capital Investment of $50,000,000 by the close of business
on December 31, 2018, or otherwise as previously stated and IEC agrees that the Closing of the Merger will not occur unless and
until the Total Capital Investment is raised.

 

		9.	Each of QEGY and IEC/Private agree to equal dilution resulting from the completion of the Total
Capital Investment. Both QEGY and IEC shall have the right to approve any capital raise plan prior to that plan being introduced
to investors. It is agreed that Accelerated Depreciation (“AD”) shall be used to its fullest potential by IEC and QEGY
to minimize dilution for each of the parties.

 

		10.	From the proceeds of the Capital Investment, IEC shall recapture in full the costs it has paid
and/or advanced in connection with this transaction.

 

		11.	From the proceeds of the Capital Investment, Mallmes and QEGY shall recapture in full the actual
costs they each have paid and/or advanced in connection with this Transaction and in connection with (i) the “clean-up”
of QEGY and the stock ownership of QEGY and outstanding agreements and transactions that were completed under the direction and
management of Mallmes and the legal fees relating to such a “clean up”, (ii) travel expenses incurred travelling to
Phoenix including 8-10 nights in hotels and (iii) the preparation of the amended #1 to the S-l filed by QEGY with the SEC on March
6, 2017, which aggregate amount shall not exceed $500,000.00.

 

		12.	QEGY, directly or indirectly
                                         through its wholly-owned subsidiary Dominion Energy Processing Group, Inc., a Canadian
                                         Federally registered company (“Dominion”) will seek to obtain a refinery
                                         permit that shall be supported in development by Private, but this asset may be sold
                                         or transferred to another or stand-alone entity so long as all the then current shareholders
                                         are compensated in cash and stock at the then value to be determined by an independent
                                         valuation professional. In connection with the foregoing, IEC acknowledges and agrees
                                         that QEGY (i) has an outstanding offer to purchase 480 Acres in Stoughton, Saskatchewan
                                         and had paid a $10,000 earnest money deposit on that property; (ii) has had pre- design
                                         meetings with the community and the SASK government; (iii) has a non-binding agreement
                                         for feed stock from Crescent Point; and (iv) has non-binding off-take agreements for
                                         diesel, gas and jet fuel to be processed at the refinery.

 

    3

     

    

 

		13.	IEC agrees that if the audit of QEGY does not reveal any previously undisclosed liabilities and
is otherwise “clean” as reasonably determined by IEC then IEC will complete a funding plan to be approved by IEC and
QEGY within 30 (Thirty) days from the date of the completion of the audit.

 

		14.	It is agreed that IEC shall retain voting rights to shares through the creation of a Class B common
shares.

 

Specific Goals of the Merger:

 

		15.	All outstanding warrants and options to purchase shares of QEGY common stock as of the Closing
shall be at a minimum of $1.00 per share.

 

		16.	Dual class of common shares. Class A common and a Class B voting. QEGY shall amend its articles
of incorporation to eliminate any preferred stock so that it has only common stock Classes A and B are authorized. Consider doing
this before filing the S-l. IEC/Quantum agree that they will not effect a reverse stock split of Quantum common stock for a period
of 2 years from the closing of the Merger transaction.

 

		17.	IEC would start raising capital after Due Diligence Examination completion Target date of May 15,
2018.

 

		18.	After the closing of the Merger, IEC as the then 60% owner of QEGY shall cause Quantum to establish
an Executive Committee which will include Mallmes.

 

		19.	IEC will recruit a President and CFO with public company experience to operate the Arizona jurisdiction.

 

		20.	IEC agrees to employ one or more persons within 30 days of Closing of the Merger to manage the
EV for the Refinery, that prove up extensive experience in environmental work for refinery startups.

 

		21.	QEGY shall adopt new Bylaws and control resolutions written and approved by QEGY Board to be made
up of Jeffery Mallmes and three IEC Corporation board members.

 

		22.	Either party may terminate if the other party materially breaches the Letter of Intent and the
breach remains uncured for a period of 30 days.

 

		23.	Prior to the execution of the Definitive Agreement, this BLOI is the complete and exclusive agreement
between the parties with respect to the subject matter hereof, superseding any prior agreements and communications (both written
and oral) regarding such subject matter. This BLOI may only be modified, or any rights under it waived, by a written document executed
by both parties.

 

    4

     

    

 

		24.	This BLOI shall remain in full force and effect and shall be binding upon the parties, and their
respective successors, permitted assigns, heirs and legal representatives.

 

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

 

		26.	THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA,
WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW OF ANY JURISDICTION.

 

		27.	The parties hereto agree to use their best efforts and to work diligently towards the Closing.
It is the intent of the parties to Close this transaction as expeditiously as possible after completion of due diligence by AC,
but in no event shall such Closing take place later than December 31, 2018, unless otherwise extended by written agreement of the
parties, time being of the essence.

 

		28.	Any amendment, supplement, modification or waiver of or to any provision of this BLOI shall be
effective only if it is made and given in a writing signed by IEC and QEGY and only in the specific instance and for the specific
purpose for which made or given.

 

		29.	The parties agree to
issue a press release announcing the execution of this BLOI after April 11,
2018, which shall be approved by both parties.

 

		30.	Neither party will make any public disclosure of the specific terms of this BLOI, except with the
prior approval of the other party, not to be unreasonably withheld. The parties will agree upon the text of a press release regarding
this BLOI and will not make any public disclosure of its existence before such press release becomes public. The foregoing notwithstanding,
IEC recognizes that QEGY is required to issue a press release regarding this BLOI and will not unreasonable withhold its approval
of the disclosures in such press release.

 

		31.	Each person executing this BLOI on behalf of a party to this BLOI represents and warrants that
he is authorized to do so, that such execution and the performance of this Agreement does not violate any agreement or restriction
to which such party is subject and that this BLOI constitutes a legally binding obligation of such party.

 

[THE REMAINDER OF THIS PAGE IS INITENTIONALLY
LEFT BLANK.

SIGNATURE PAGE FOLLOWS.]

 

    5

     

    

 

SIGNATURE
PAGE FOR BINDING
LETTER OF INTENT BETWEEN

INDUCTANCE ENERGY CORPORATION
AND QUANTUM ENERGY INC. 

	 	 	 
	Inductance Energy Corporation	 
	 	 	 
	By: 	 	
	William Hinz	 
	Director and CEO	 

 

Accepted
effective as of 4/15, 2018

 

Quantum
Energy Inc.

	 	 	 
	By: 		4/15, 2018 
	Jeff Mallmes	 
	Chairman and President	 

 

    6Exhibit
10.12

 

FORM
OF PUBLIC OFFERING SUBSCRIPTION AGREEMENT

 

QUANTUM
ENERGY, INC. 

 

FOR
A COMPLETE DESCRIPTION OF THE PUBLIC OFFERING AND INFORMATION REGARDING INVESTMENT RISKS, YOU ARE URGED TO READ THE PROSPECTUS
INCLUDED AS PART OF THE COMPANY’S REGISTRATION STATEMENT.

 

This
subscription agreement (this “Subscription”) is dated __________, 201__, by and between the investor
identified on the signature page hereto (the “Investor”) and Quantum energy, Inc., a Nevada corporation
(the “Company”). The parties agree as follows:

 

		1.	Subscription.
                                         Investor hereby subscribes and agrees to purchase and the Company agrees to sell to Investor
                                         such number of shares (the “Shares”) of the Company’s
                                         Common Stock, $0.001 par value per share (the “Common Stock”),
                                         as set forth on the Signature Page attached as part of this Agreement (the “Signature
                                         Page”) hereto, for an aggregate purchase price (the “Purchase Price”)
                                         equal to the product of (x) the aggregate number of Shares the Investor subscribes to
                                         purchase and (y) the purchase price per share as set forth on the Signature Page hereto.  The
                                         Shares are being registered for sale pursuant to a Registration Statement on Form S-1,
                                         Registration No. 333-118138, as may be amended from time to time (the “Registration
                                         Statement”) filed with the U.S. Securities and Exchange Commission (“SEC”).  The
                                         Registration Statement will have been declared effective by the SEC (the “Commission”)
                                         prior to issuance of any Shares and acceptance of any Investor’s subscription.
                                         A final prospectus (and/or prospectus supplement, the “Prospectus”)
                                         will be delivered to the Investor as required by law. The Shares are being offered directly
                                         by the Company on a “best efforts”, any and all basis up to $4,000,000. Provided
                                         the Company’s Registration Statement is declared effective by the SEC, the closing
                                         of the Subscription for the Shares hereunder (the “Closing”) shall
                                         occur immediately upon: (i) receipt and acceptance by the Company of the Subscriber’s
                                         properly completed and executed Signature; and (ii) receipt of all funds for the subscription
                                         of shares hereunder (by wire transfer of immediately available funds to the Company),
                                         at which time the Company shall cause the Shares to be issued to the Subscriber in the
                                         name(s) set forth in the Signature Page and the Company shall cause the Shares to be
                                         delivered to the Investor (A) through the facilities of The Depository Trust Company’s
                                         DWAC system in accordance with the instructions set forth on the Signature Page under
                                         the heading “DWAC Instructions,” or (B) if requested by the Investor
                                         on the Signature Page or if the Company is unable to make the delivery through the facilities
                                         of The Depository Trust Company’s DWAC system, through the book-entry delivery
                                         of Shares on the books and records of the Company’s transfer agent, Pacific Stock
                                         Transfer Company (the “Transfer Agent”). If delivery is made by book
                                         entry on the books and records of the Transfer Agent, the Company shall send written
                                         confirmation of such delivery to the Investor at the address indicated on the Signature
                                         Page. No fractional Shares shall be purchased and any excess funds representing fractional
                                         Shares shall be returned to the Investor. By payment of the Shares, the Investor acknowledges
                                         receipt of the Prospectus prior to the date of the Subscription, the terms of which govern
                                         the investment in the Shares. Pending acceptance of this subscription, the Subscriber’s
                                         subscription amount shall be held in an escrow account established by the Company. 

 

		2.	The
                                         Subscriber makes the following representations, declarations and warranties to the Company,
                                         with the intent and understanding that the Company will rely thereon: (i) the Subscriber
                                         understands that there is no minimum number of shares that must be sold in this Offering
                                         before the Company can accept the Subscriber’s subscription and have a Closing;
                                         (ii) the Subscriber acknowledges the public availability of the Company’s current
                                         Prospectus which can be viewed on the SEC Edgar Database, under the CIK number 0001295961
                                         and the Prospectus is made available in the Company’s most recent Registration
                                         Statement on form S-1, as amended, declared effective on _______, 2018; (iii) all information
                                         herein concerning the Subscriber on the Signature Page is correct and complete as of
                                         the date hereof and as of the date of Closing; (iv) the Subscriber is at least eighteen
                                         (18) years of age and is a valid resident of the state indicated on the Signature
                                         Page; (v) the Subscriber is under no legal disability nor is the Subscriber subject to
                                         any order, which would prevent or interfere with the Subscriber’s execution, delivery
                                         and performance of this Subscription Agreement or the purchase of the Shares by the Subscriber;
                                         and (vi) the Subscriber has received and/or read the Prospectus.

    	 

    	 

    

 

		3.	This
                                         Agreement shall be construed in accordance with and governed by the laws applicable to
                                         contracts made and wholly performed in the State of Nevada. In the event there is any
                                         conflict between this Subscription Agreement and the Prospectus, the terms set forth
                                         in the Prospectus shall be controlling.

 

		4.	This
                                         Subscription Agreement cannot be revoked by the subscriber and it is an irrevocable agreement
                                         binding on the Subscriber, and on the Subscriber’s heirs, estate, legal representatives,
                                         assigns and successors, and shall survive the Subscriber’s death, disability or
                                         dissolution. The Company, however, may reject the agreement prior to the Company’s
                                         acceptance of the same.

 

		5.	This
                                         Subscription Agreement constitutes the entire agreement between the parties hereto with
                                         respect to the purchase of Shares of the Company’s Common Stock in the Offering
                                         and may be amended only in writing by the parties to be bound thereby.

 

		6.	If
                                         this Subscription Agreement is executed on behalf of a corporation, partnership, trust
                                         or other entity, the signatory named on the Signature Page has/have been duly authorized
                                         and empowered to execute this Subscription Agreement and all other instruments in connection
                                         with the purchase of the shares, and the signature(s) of the signatory is/are binding
                                         upon such corporation, partnership, trust or other entity. 

 

		7.	This
                                         Subscription may be executed in any number of counterparts, all of which taken together
                                         shall constitute one and the same instrument and shall become effective when counterparts
                                         have been signed by each party and delivered to the other parties hereto, it being understood
                                         that all parties need not sign the same counterpart.  Execution may be made by delivery
                                         by facsimile or via electronic format. All communications hereunder, except as otherwise
                                         specifically provided herein, shall be in writing and shall be mailed, hand delivered,
                                         sent by a recognized overnight courier service such as Federal Express, or sent via facsimile
                                         or e-mail transmission, to the party to whom it is addressed at the following addresses
                                         or such other address as such party may advise the other in writing (i) to the Company
                                         - as set forth on the Signature Page hereto and (ii) to the Investor - as set forth on
                                         the Signature Page hereto. All notices hereunder shall be effective upon receipt by the
                                         party to which it is addressed.

 

 

 

[Signature
Page Follows]

 

 

 

 

    	 

    	 

    

 

Signature
Page to 

Public
Offering Subscription Agreement of

Quantum
Energy, Inc. 

 

FOR
A COMPLETE DESCRIPTION OF THE PUBLIC OFFERING AND INFORMATION 

REGARDING
INVESTMENT RISKS, YOU ARE URGED TO READ THE PROSPECTUS.

 

IF
YOU WISH TO PURCHASE SHARES IN THE PUBLIC OFFERING, YOU MUST COMPLETE THIS SIGNATURE PAGE WHICH IS PART OF THE PUBLIC OFFERING
SUBSCRIPTION AGREEMENT.

 

PLEASE
CAREFULLY READ AND FILL OUT THIS SIGNATURE PAGE. 

INCOMPLETE
SIGNATURE PAGES WILL BE REJECTED.

 

If the
foregoing Public Offering Subscription Agreement correctly sets forth our agreement, please confirm this by signing and returning
this Signature Page to the Company at the address set forth below

 

Date:
________________________________

  

	Number of Shares you subscribe to purchase:
    __________________________	Aerkomm Inc.
	 	 	 
	Purchase Price per Share: $_______	By:	 
	 	 	 
	Total Purchase Price (Number of Shares X $___
    per share: $___________	Name:	 
	 

        Print exact name(s) of
        subscriber(s):

         

        Subscriber 1:_________________________________________

         

        Subscriber 2:_________________________________________
	Title:	 
	Signature of Subscriber(s):

         

        Subscriber 1:_________________________________________

         

        Subscriber 2:_________________________________________

         

         

        Signature of authorized
        person if the Subscriber is an Entity:

         

         

        By:________________________________________

        Print Name and Title

         

         

        Name(s) in which the shares
        are to be registered (and form of joint ownership, if applicable):

         

        _________________________________________

         

         

        _________________________________________

         

         

        Form of joint ownership,
        if applicable:

         

        _________________________________________
	[Issuer Notice Information]

    	 

    	 

    

Residence
or Physical Mailing Address of Subscriber(s) (cannot be a P.O. Box):

 

__________________________________

 

__________________________________

 

__________________________________

 

 

Telephone Numbers of Subscriber(s)
(include Area Code):

 

Subscriber 1:

 

Daytime Phone: (___)_____________          Evening
Phone: (___)________________

 

Subscriber
2:

 

Daytime
Phone: (___)_____________          Evening Phone: (___)________________

 

Social
Security or Taxpayer Identification Number(s) of Subscriber(s):

 

Subscriber
1: ____-_____-_____

 

 

Subscriber
2: ____-_____-_____

 

 

SELECT
METHOD OF DELIVERY OF SHARES: DRS OR DWAC (CHECK ONE)

 

DWAC
DELIVERY INSTRUCTIONS:

 

1. Name
of DTC Participant (broker dealer at which the account

or
accounts to be credited with the Shares are maintained): _______________________________

 

2. DTC
Participant Number: _______________________________

 

3. Name
of Account at DTC Participant being credited with the Shares: _______________________________

 

4. Account
Number of DTC Participant being credited with the Shares: _______________________________

 

DRS
ELECTRONIC BOOK ENTRY CONFIRMATION (hold shares at transfer agent) Delivery Instructions:

 

Name in
which Shares should be issued: ______________________

 

Address
for Shareholder: Street_________________________________________

 

City/State/Zip:
______________________________; Attention: _____________________________________

 

Telephone
No.: _____________________________ 

  

  

    	 

    	 

    

WIRE
PAYMENT INSTRUCTIONS:

 

NO
SUBSCRIPTIONS WILL BE ACCEPTED OR WIRE TRANSFERS ACCEPTED UNLESS AND UNTIL THE REGISTRATION STATEMENT HAS BEEN DECLARED EFFECTIVE
BY THE SEC. A COPY OF THIS SUBSCRIPTION AGREEMENT, DULY EXECUTED BY BOTH PARTIES HERETO, WILL BE DELIVERED TO YOU.

 

To the
following instructions:

 

[Escrow
Account]

ABA/Routing
#: ___________

Swift
#: _____________

Account
#: _____________

Account
Title: __________________

Telephone
No.: ______________

Fax
No.: _____________________

 

COMPLETE,
SIGN AND RETURN THIS SIGNATURE PAGE TO THE COMPANY AT:

 

218
N. Jefferson Street

Chicago,
Illinois 60661

Attention:
Jerold N. Siegan, Esq.

 

CHECKS
MUST BE MADE PAYABLE TO 

QUANTUM
ENERGY, INC.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}]]