Document:

ex4-1form8a12b_a3.htm

EXHIBIT 4.1

 

	

	

C0000000230 | M

[GRAPHIC OMITTED]

[GRAPHIC OMITTED]

Number

00000000

Shares

* * * * 0 * * * * * * * * *
* * * * * 0 * * * * * * * *
* * * * * * 0 * * * * * * *
* * * * * * * 0 * * * * * *
* * * * * * * * 0 * * * * *

          INCORPORATED UNDER THE BUSINESS CORPORATIONS ACT (ALBERTA)

THIS CERTIFIES THAT

**SPECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000
000Pengrowth*Energy*Trustzero****SPECIMEN70706P104
00000000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy
*Trustzero****SPECIMEN70706P10400000000Pengrowth*E
nergy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECI
MEN70706P10400000000Pengrowth*Energy*Trustzero****
SPECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIMEN70706P1040000000
0Pengrowth*Energy*Trustzero****SPECIMEN70706P10400
000000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*T
rustzero****SPECIMEN70706P10400000000Pengrowth*Ene
rgy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIME
N70706P10400000000Pengrowth*Energy*Trustzero****SP SPECIMEN
ECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000P
engrowth*Energy*Trustzero****SPECIMEN70706P1040000
0000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*Tru
stzero****SPECIMEN70706P10400000000Pengrowth*Energ
y*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIMEN7
0706P10400000000Pengrowth*Energy*Trustzero****SPEC
IMEN70706P10400000000Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000Pen
growth*Energy*Trustzero****SPECIMEN70706P104000000
00Pengrowth*Energy*Trustzero****SPECIMEN70706P10400000000Pengrowth*Energy*Trust
zero****SPECIMEN70706P10400000000Pengrowth*Energy*

                                                                CUSIP 70706P104

IS THE REGISTERED HOLDER OF

**070706P10400000000Pengrowth*Energy*Trustzero****070706P10400000000Pengrowth*E
nergy*Trustzero****070706P10400000000Pengrowth*Ene
rgy*Trustzero****070706P10400000000Pengrowth*Energy*Trustzero****070706P1040000
0000Pengrowth*Energy*Trustzero****070706P104000000
00Pengrowth*Energy*Trustzero****070706P10400000000Pengrowth*Energy*Trustzero***
*070706P10400000000Pengrowth*Energy*Trustzero****0
70706P10400000000Pengrowth*Energy*Trustzero****070706P10400000000Pengrowth*Ener
gy*Trustzero****070706P10400000000Pengrowth*Energy
*Trustzero****070706P10400000000Pengrowth*Energy*Trustzero****070706P1040000000
0Pengrowth*Energy*Trustzero****070706P10400000000P * * * 0 * * *
engrowth*Energy*Trustzero****070706P10400000000Pengrowth*Energy*Trustzero****07
0706P10400000000Pengrowth*Energy*Trustzero****0707
06P10400000000Pengrowth*Energy*Trustzero****070706P10400000000Pengrowth*Energy*
Trustzero****070706P10400000000Pengrowth*Energy*Tr
ustzero****070706P10400000000Pengrowth*Energy*Trustzero****070706P10400000000Pe
ngrowth*Energy*Trustzero****070706P10400000000Peng
rowth*Energy*Trustzero****070706P10400000000Pengrowth*Energy*Trustzero****07070
6P10400000000Pengrowth*Energy*Trustzero****070706P
10400000000Pengrowth*Energy*Trustzero****070706P10400000000Pengrowth*Energy*Tru
stzero****070706P10400000000Pengrowth*Energy*Trust

                                                              ISIN CA70706P1045

                                            SEE REVERSE FOR CERTAIN DEFINITIONS

 FULLY PAID AND NON-ASSESSABLE COMMON SHARES WITHOUT PAR VALUE IN THE CAPITAL
                                      OF

transferable on the books of the Corporation only upon surrender of this
certificate properly endorsed.

This certificate is not valid unless countersigned by the Transfer Agent and
Registrar of the Corporation.

IN WITNESS WHEREOF the Corporation has caused this certificate to be signed on
its behalf by the facsimile signatures of its duly
authorized officers.

                              Dated: Nov 30, 2010

President and Chief Executive Officer

COUNTERSIGNED AND REGISTERED
COMPUTERSHARE TRUST COMPANY, N.A.
(GOLDEN)
TRANSFER AGENT AND REGISTRAR

OR

COUNTERSIGNED AND REGISTERED
COMPUTERSHARE TRUST COMPANY OF CANADA
(CALGARY) (TORONTO) (MONTREAL) (VANCOUVER)
TRANSFER AGENT AND REGISTRAR

Chief Financial Officer

By
Authorized Officer

                        By ____________________________
                              Authorized Officer

The shares represented by this certificate are transferable at the offices of
Computershare Trust Company of Canada in Calgary, AB; Toronto, ON; Montreal, QC
and Vancouver, BC; and Computershare Trust Company, N.A. in Golden, CO

[GRAPHIC OMITTED]

[GRAPHIC OMITTED]

 

 

 

 

 

 

	

	

THE CLASS OF SHARES REPRESENTED BY THIS CERTIFICATE HAS RIGHTS, PRIVILEGES,
RESTRICTIONS OR CONDITIONS ATTACHED TO IT. THE CORPORATION WILL FURNISH TO
SHAREHOLDERS, ON DEMAND AND WITHOUT CHARGE, A FULL COPY OF THE TEXT OF THE
RIGHTS, PRIVILEGES, RESTRICTIONS AND CONDITIONS ATTACHED TO EACH CLASS
AUTHORIZED TO BE ISSUED AND TO EACH SERIES INSOFAR AS THE SAME HAVE BEEN FIXED
BY THE DIRECTORS, AND THE AUTHORITY OF THE DIRECTORS TO FIX THE RIGHTS,
PRIVILEGES, RESTRICTIONS AND CONDITIONS OF SUBSEQUENT SERIES.

The  following  abbreviations  shall be  construed as though the words set forth
below  opposite  each   abbreviation   were  written  out  in  full  where  such
abbreviation appears:

TEN COM  -  as tenants in common            (Name) CUST (Name) UNIF  - (Name) as Custodian for
                                                                       (Name) under the

TEN ENT  -  as tenants by the entireties     GIFT MIN ACT (State)      (State) Uniform Gifts to
                                                                       Minors Act
JT TEN   -  as joint tenants with
            rights of survivorship and
            not as tenants in common

Additional abbreviations may also be used though not in the above list.

For value received the undersigned hereby sells, assigns and transfers unto

                      Insert name and address of transferee

Shares represented by this certificate and does hereby irrevocably constitute and appoint

the attorney of the  undersigned to transfer the said shares on the books of the
Corporation with full power of substitution in the premises.

DATED:
                          Signature of Shareholder        Signature of Guarantor
Signature Guarantee:

The signature on this  assignment  must correspond with the name as written upon
the face of the  certificate(s),  in every  particular,  without  alteration  or
enlargement, or any change whatsoever and must be guaranteed by a major Canadian
Schedule  I  chartered  bank or a member of an  acceptable  Medallion  Signature
Guarantee  Program (STAMP,  SEMP, MSP). The Guarantor must affix a stamp bearing
the actual words "Signature Guaranteed".

In the  USA,  signature  guarantees  must  be done by  members  of a  "Medallion
Signature Guarantee Program" only.

Signature  guarantees are not accepted from Treasury Branches,  Credit Unions or
Caisses Populaires unless they are members of the Stamp Medallion Program.

[GRAPHIC OMITTED]bthcxv8kaex1051010311.htm

 

Exhibit 10.51

 

Disclosure Schedule

to

Share Exchange Agreement

These disclosure schedules are annexed to and made a part of the Share Exchange Agreement (the "Agreement"), dated as of October 6, 2010, by and among BTHC XV, Inc., a Delaware corporation (the “Acquiror Company”), Halter Financial Investments LP, (the “Acquiror Company Principal Shareholder”), Grand Fountain Capital Holding Limited, Zhang Shanjiu, Li Shikun and Yu Xinbo (collectively, the “Company Shareholder”), and Long Fortune Valley Tourism International Limited, a Cayman Islands company (the “Company”).

Any capitalized terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Agreement.  Each reference to an agreement, contract, list, instrument or other matter listed in these Schedules shall be deemed to incorporate herein such referenced item in its entirety and the terms thereof.  Each reference in a Schedule to another Schedule shall be deemed to incorporate the agreement, contract, list, instrument or other matter disclosed on the face of such referenced Schedule in its entirety.  Where any representation or warranty contained in the Agreement is limited or qualified by materiality as to the matters to which the representation or warranty is given, the inclusion of any matter in this Disclosure Schedule does not constitute a determination that such matters are material.

Any matter set forth in a Schedule shall also be deemed a disclosure for purposes of any other Sections or Schedules in the Agreement to which it may relate if it is reasonably apparent on its face that such disclosure pertains to such other Sections or Schedules in the Agreement.  Headings have been inserted on the separate Schedules for convenience of reference only and shall not have the effect of amending or changing the content or meaning of the Section as set forth in the Agreement.

 

 

  

1

  

Schedule 2.1

Acquiror Company Shares

 

	
Company Shareholder

	
Acquiror Company Shares

	  	  	 
	
Grand Fountain Capital Holding Limited

	
7,856,081

	 
	
Zhang Qian

	
4,968,971

	 
	
Zhang Shanjiu

	
3,780,739

	 
	
Li Shikun

	
491,005

	 
	
Yu Xinbo

	
88,381

	 
	  	  	 
	
Total Acquiror Company Shares

	
17,185,177

	 

 

  

2

  

 

Schedule 4.1

Organization and Qualification

Each of the Company and its subsidiaries is duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.

1. Long Fortune Valley Tourism International Limited

2. Rich Valley Capital Holding Limited

3. Long Fortune Valley Tourism International Limited,

4. Shandong Long Kong Travel Management Co., Ltd.

 

 

  

3

  

 

Schedule 4.2(a)

Subsidiaries

1. A true and correct organizational chart of the Company and its Subsidiaries is as follows:

 

 

2. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, nonassessable and free of preemptive and similar rights to subscribe for or purchase securities.

 

 

  

4

  

Schedule 4.2(d)

Long Kong Travel

1. The names of the users of two pieces of state-owned land respectively under number沂国用(2006)第174号and 沂国用(2006)第175号 were registered as沂水县地下大峡谷旅游区管理委员会, a name different from Long Kong Travel. We confirm that the two names are two different names of Long Kong Travel. Details thereof please see “Schedule 4.14 Title to and Condition of Properties”.

2. Long Kong Travel has leased certain amount of rural lands from villagers around the area where it’s located for daily operation. Of which, about 410 Mu or 274,000 square meters may have not been approved by 2/3 of the villager meeting or villager representatives of the villages where the rural lands are belonged to and reported to the township authorities thereof as required by the PRC laws. Details thereof please see “Schedule 4.14 Title to and Condition of Properties”.

3. The Company and its Subsidiaries use the trademark 地下大峡谷(word)with registration No. 3256270 during their operations without a licensing agreement with the registrant of the trademark, who is a connected company of the Company. Details thereof please see “Schedule 4.14 Title to and Condition of Properties”.

4. Long Fortune Valley Limited, the former investor of Long Kong Travel, has not fully paid in the consideration for the equity purchase to Long Kong Travel’s former PRC citizen shareholders. According to the equity purchase agreements thereof, Long Fortune Valley Limited is committed to pay RMB14.20 million to the transferors, but so far it has only paid RMB11.90 million therein.

 

 

  

5

  

 

Schedule 4.7

Capitalization of the Company

1. Below is the authorized capital stock of the Company as of the Closing Date:

	
Name of Shareholders

	
Number of Shares

	
Percentage of the Capital Share

	 	 	 
	
Grand Fountain Capital Holding Limited

	
800

	
45.7%

	
Zhang Qian

	
506

	
28.9%

	
Zhang Shanjiu

	
385

	
22.0%

	
Li Shikun

	
50

	
2.9%

	
Yu Xinbo

	
9

	
0.5%

2. All outstanding shares of the Company’s capital stock issued are free of pre-emptive rights.

 

 

  

6

  

Schedule 4.8

Capitalization of the Non-PRC Subsidiaries

1. Below is the authorized capital stock of Rich Valley Capital as of the Closing Date:

	
Name of Shareholders

	
Number of Shares

	
Percentage of the Capital Share

	
The Company

	
1

	
100%

2.  Below is the authorized capital stock of Long Fortune Valley as of the Closing:

	
Name of Shareholders

	
Number of Shares

	
Percentage of the Capital Share

	
Rich Valley Capital

	
10,000

	
100%

 

 

  

7

  

 

Schedule 4.8

Capitalization of the PRC Subsidiary

1. Below is the authorized capital stock of Long Kong Travel as of the Closing Date:

	
Name of Shareholders

	
Number of Shares

(Registered Capital in RMB)

	
Percentage of the Capital Share

	
Long Fortune Valley

	
8,000,000

	
100%

 

  

8

  

 

Schedule 4.11

Compliance with Laws and Other Instruments

1. Since 2009, Long Kong Travel has made loans up to RMB 41 million to Yishui Underground Yingguang Lake Tourism Co., Ltd., details thereof are below:

	
Singing Date

	
Amount (RMB, 10 thousand)

	
Interest Rate and Fee

	
Term

	
Way of Guarantee

	
2009.3.27

	
200

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.3.27-

2009.12.16

	
Collection right of admission incomes of Yingguang Lake

	
2009.7.26

	
200

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.7.31-

2010.4.30

	
Collection right of admission incomes of Yingguang Lake

	
2009.8.16

	
1000

	
Monthly rate is 8‰

	
2009.8.16-

2009.12.15

	
None

	
2009.11.24

	
1500

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.11.27-

2010.11.27

	
Collection right of admission incomes of Yingguang Lake

	
2009.11.26

	
1200

	
Monthly rate is 8‰

	
2009.11.30-

2010.11.29

	
None

2. Long Kong Travel has not contributed for the housing fund (住房公積金) for all of their staff as required by the relevant PRC law.

 

 

  

9

  

Schedule 4.13

Brokers or Finders

There are no brokers or Finders.

 

 

  

10

  

 

Schedule 4.14

Title to and Condition of Properties

 

1.    Currently Long Kong Travel owns or leases properties as follows:

 

(a) State-owned Land

 

Long Kong Travel uses certain state-owned land for operations:

 

	  	
User

	
No. of Usage Certificate

	
Location

	
Issuance date of Cert.

	
Term

	
Area (square meters)

	
type

	
Usage

	
Mortgage

	
1

	
山东龙岗旅游集团有限公司

	
沂国用(2007)第230号

	
姚店子镇后武家庄村以北

	
Sept. 14, 2007

	
July 6, 2047

	
2545

	
Transfer

	
tourism

	
mortgaged

	
2

	
沂水县地下大峡谷旅游区管理委员会

	
沂国用(2006)第175号

	
姚店子镇后武家庄村以北

	
Dec. 31, 2006

	
Dec. 29, 2036

	
2319

	
Transfer

	
tourism

	
none

	
3

	
沂水县地下大峡谷旅游区管理委员会

	
沂国用(2006)第174号

	
姚店子镇后武家庄村以北

	
Dec. 31, 2006

	
Dec. 29, 2036

	
2067

	
Transfer

	
tourism

	
none

 

The names of the users of two pieces of state-owned land respectively under number沂国用(2006)第174号and 沂国用(2006)第175号 were registered as沂水县地下大峡谷旅游区管理委员会, a name different from Long Kong Travel. We confirm that the two names are two different once-used names of Long Kong Travel.

 

The name of the user under沂国用(2007)第230号 is the former name of Long Kong Travel.

 

(b) Leased land

 

Long Kong Travel has leased certain amount of rural lands, about 1175 Mu or 78,370 square meters, from villagers around the area where it’s located for daily operation. Of which, about 410 Mu or 274,000 square meters may have not been approved by 2/3 of the villager meeting or villager representatives of the villages where the rural lands are belonged to and reported to the township authorities thereof as required by the PRC laws.

 

(c) Properties

 

 

  

11

  

 

	
Owner

	
No. of Cert.

	
Location

	
Area

(Square Meter)

	
Mortgage status

	
山东龙岗旅游集团有限公司

	
房权证沂房字第148860045号

	
沂水县姚店子镇海子村

	
3261.65

	
Mortgaged

The name of the owner is the former name of Long Kong Travel.

 

(d) Intellectual Properties

 

Except for trademarks listed below, the Company does not owns any other intellectual properties:

 

	
i.  

	
Registered trademarks

 

	
Registrant

	
Trademark

	
Registration No.

	
Class

	
Term

	
山东地下大峡谷旅游开发有限公司

	
沂蒙地下奇観(word)

	
4085159

	
39

	
July 14, 2007- July 13, 2017

	
山东地下大峡谷旅游开发有限公司

	
沂蒙地下奇観(word)

	
4085162

	
41

	
July 14, 2007-July 13, 2017

	
山东地下大峡谷旅游开发有限公司

	
红嫂(figure +word)

	
4085161

	
40

	
Sept. 28, 2007- Sept. 27, 2017

	
山东地下大峡谷旅游开发有限公司

	
红嫂(figure +word)

	
4085160

	
26

	
Nov. 28, 2007-Nov. 27, 2017

The name of the registrant is the former name of Long Kong Travel.

 

	
ii.  

	
Trademarks under application

 

	  	
Applicant

	
Trademark

	
Application No.

	
Class

	
Application Date

	
Status

	
1

	
山东龙岗旅游集团有限公司

	
LONGON(word)

	
5544256

	
41

	  	  
	
2

	
山东龙岗旅游集团有限公司

	
地下河漂流(word)

	
5658683

	
41

	
Oct. 13, 2006

	
Accepted

	
3

	
山东龙岗旅游集团有限公司

	
地下河漂流(word)

	
5658684

	
39

	
Oct. 13, 2006

	
Accepted

	
4

	
山东龙岗旅游集团有限公司

	
萤火虫水洞(word)

	
5658682

	
41

	
Oct. 13, 2006

	
Accepted

	
5

	
山东龙岗旅游集团有限公司

	
仙山圣水(word)

	
5665535

	
41

	
Oct. 17, 2006

	
Accepted

	
6

	
山东龙岗旅游集团有限公司

	
天马岛(word)

	
6049290

	
41

	
May 14, 2007

	
Accepted

	
7

	
山东龙岗旅游集团有限公司

	
天马岛(word)

	
6049291

	
39

	
May 14, 2007

	
Accepted

	
8

	
山东龙岗旅游发展有限公司

	
天湖(word)

	
7655352

	
41

	
Aug. 28, 2009

	
Accepted

 

 

  

12

  

 

	
9

	
山东龙岗旅游发展有限公司

	
溶洞第一漂(word)

	
7655288

	
41

	
Aug. 28, 2009

	
Accepted

	
10

	
山东龙岗旅游发展有限公司

	
龙岗(word)

	
7655256

	
39

	
Aug. 28, 2009

	
Accepted

	
11

	
山东龙岗旅游发展有限公司

	
龙岗(word)

	
7655273

	
41

	
Aug. 28, 2009

	
Accepted

	
12

	
山东龙岗旅游发展有限公司

	
(figure)

	
8072991

	
41

	
Feb. 11, 2010

	
Accepted

	
13

	
山东龙岗旅游发展有限公司

	
LONGONTOUR(word)

	
8072990

	
41

	
Feb. 11, 2010

	
Accepted

	
14

	
山东龙岗旅游发展有限公司

	
LONGONTOUR(word)

	
8072983

	
39

	
Feb. 11, 2010

	
Accepted

 

The names of the applicants are the former names of Long Kong Travel.

 

	
iii.  

	
Trademarks under use

	
Registrant

	
Trademark

	
No. of Registration

	
Class

	
Term

	
山东善久青铜工艺品有限公司

	
地下大峡谷(word)

	
3256270

	
39

	
Feb. 28, 2004-Feb. 27,  2014

 

The registrant of the above trademark is a connected company of the Company. The Company and its Subsidiaries use the trademark during the operations without a licensing agreement.

 

 

  

13

  

 

Schedule 4.15

No Undisclosed Events

 

(a)            Loans between Enterprises

 Since 2009, Shandong Long Kong Tourism Management Co., Ltd. (“Long Kong”), the Company’s Sole PRC subsidiary, has made loans up to RMB 41 million to Yishui Underground Yingguang Lake Tourism Co., Ltd., details thereof are below:

	
Singing Date

	
Amount (RMB, 10 thousand)

	
Interest Rate and Fee

	
Term

	
Way of Guarantee

	
2009.3.27

	
200

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.3.27-

2009.12.16

	
Collection right of admission incomes of Yingguang Lake

	
2009.7.26

	
200

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.7.31-

2010.4.30

	
Collection right of admission incomes of Yingguang Lake

	
2009.8.16

	
1000

	
Monthly rate is 8‰

	
2009.8.16-

2009.12.15

	
None

	
2009.11.24

	
1500

	
The rate is the same as that during that period of the bank and the fee is 15‰ of the loan

	
2009.11.27-

2010.11.27

	
Collection right of admission incomes of Yingguang Lake

	
2009.11.26

	
1200

	
Monthly rate is 8‰

	
2009.11.30-

2010.11.29

	
None

(b)           Housing Fund

Long Kong has not contributed for the housing fund (住房公積金) for all of their staff as required by the relevant PRC law..

(c)           Payment of Equity Purchase Consideration

Long Fortune Valley Limited, the former investor of Long Kong, has not fully paid in the consideration for the equity purchase to Long Kong’s former PRC citizen shareholders. According to the equity purchase agreements thereof, Long Fortune Valley Limited is committed to pay RMB14.20 million to the transferors, but so far it has only paid RMB11.90 million therein.

(d)           Registration of Offshore Investment

 

 

  

14

  

Three shareholders of the Company are PRC citizens, who still need to complete their offshore investment registrationss with the State Administration of Foreign Exchange or its local counterparts pursuant to PRC laws and regulations.

(e)           Usage Titles of Lands

The names of the users of two pieces of state-owned land respectively under number沂国用(2006)第174号and 沂国用(2006)第175号 were registered as沂水县地下大峡谷旅游区管理委员会, a name different from Long Kong Travel. We confirm that the two names are two different once-used names of Long Kong Travel.

(f)           Consent upon Leased Rural Land

We have leased certain amount of rural lands from villagers for our daily operation, of which, about 410 Mu or 274,000 square meters may have not been approved by 2/3 of the villager meeting or villager representatives of the villages where the rural lands are belonged to and reported to the township authorities thereof as required by the PRC laws.

(g)           Use of Trademark

The Company and its Subsidiaries use the trademark 地下大峡谷(word)with registration No. 3256270 during their operations without a licensing agreement with the registrant of the trademark, who is a connected company of the Company.

 

 

  

15

  

 

Schedule 4.16

Officers and Directors

1.  Directors of the Company are:

Zhang Shanjiu, Li Shikun and Yu Xinbo

2.  Director of Rich Valley Capital is:

Yu Xinbo

3.  Director of Long Fortune Valley is:

Li Shikun

4.  Directors of Long Kong Travel are:

      Zhang Shanjiu, Yu Xinbo and Pang Haidong

 

 

  

16

  

Schedule 5.1

Organization and Qualification

The Acquiror Company is duly incorporated or otherwise organized, validly existing and in good standing under the laws of the state of Delaware, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.

 

 

  

17

  

 

Schedule 5.7

Solvency

BTHC XV, LLC, which merged with and into the Acquiror Company, together with certain other debtors, filed a joint petition for reorganization under Chapter 11 of the United States Bankruptcy Code on March 28, 2003.

 

 

  

18

  

Schedule 5.8

Capitalization

The Acquiror Company has 904,483 shares of common stock, par value, $.001 per share, issued and outstanding, which shares represent all of the issued and outstanding securities of the Acquiror Company.

There are no outstanding options, warrants, calls, stock appreciation rights, phantom stock or similar rights with respect to any securities of the Acquiror Company, purchase agreements, participation agreements, subscription rights, conversion rights, exchange rights or other securities or contracts that could require the Acquiror Company to issue, sell or otherwise cause to become outstanding any of its authorized but unissued shares of capital stock or any securities convertible into, exchangeable for or carrying a right or option to purchase shares of capital stock or to create, authorize, issue, sell or otherwise cause to become outstanding any new class of securities or that give any Person the right to receive any economic benefit or right similar to or derived from the economic benefits and right occurring in respect of holders of the capital stock of the Acquiror Company.

 

 

 

  

19

  

Schedule 5.13

No Brokers or Finders

No Person has, or as a result of the transactions contemplated herein will have, any right or valid claim against the Acquiror Company for any commission, fee or other compensation as a finder or broker, or in any similar capacity.

 

 

 

  

20

  

Schedule 5.14

Absence of Undisclosed Liabilities

The Acquiror Company has no indebtedness, obligation or liability (whether accrued, absolute, contingent, liquidated or otherwise, whether due or to become due).  Any and all debts, obligations or liabilities with respect to directors and officers of the Acquiror Company will be cancelled prior to the closing of the Share Exchange.

 

 

  

21

  

 

Schedule 5.15

No Operations

Except for its agreement with Securities Transfer Corp. pursuant to which said entity agrees to serve as the Acquiror Company’s stock transfer agent, since its formation, the Acquiror Company has not conducted any business, nor is it a party to any agreement or contract, whether written or oral, except for this Agreement and each of the other Transaction Documents.

 

 

  

22

  

Schedule 5.16

Insurance

The Acquiror Company does not maintain any policy of insurance.

 

 

  

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Schedule 5.17

Changes

No matters to disclose.

 

 

  

24

  

Schedule 5.20

Employees

The Acquiror Company has no employees, independent contractors or other Persons providing services to it.

 

 

  

25

  

Schedule 5.21

Officers and Directors

Timothy P. Halter is the sole officer and director of the Acquiror Company.

 

 

  

26

  

Schedule 5.31

Interested Party Transactions

No officer, director or principal stockholder of the Acquiror Company or any Affiliate or “associate” (as such term is defined in Rule 405 of the Commission under the Securities Act) of any such Person, has or has had, either directly or indirectly, (a) an interest in any Person which (i) furnishes or sells services or products which are furnished or sold or are proposed to be furnished or sold by the Acquiror Company, or (ii) purchases from or sells or furnishes to, or proposes to purchase from, sell to or furnish the Acquiror Company any goods or services; (b) a beneficial interest in any contract or agreement to which the Acquiror Company is a party or by which it may be bound or affected; or (c) any material interest in any property, real or personal, tangible or intangible, used in or pertaining to the Acquiror Company’s business.

 

 

  

27

  

 

Schedule 5.33

Bank Accounts and Safe Deposit Boxes

The Acquiror Company does maintain a bank account or safety deposit box.

 

 

  

28

  

 

Schedule 5.36

SEC Documents; Financial Statements

The Acquiror Company has filed all reports required to be filed by it under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof.

 

 

  

29

  

 

Schedule 5.41

Business Records and Due Diligence

The Acquiror Company delivered to the Company all records and documents relating to the Acquiror Company which the Acquiror Company possesses, including, without limitation, books, records, government filings, Tax Returns, Organizational Documents, corporate records, stock records, consent decrees, orders, and correspondence, director and shareholder minutes, resolutions and written consents, stock ownership records, financial information and records, and other documents used in or associated with the Acquiror Company.

 

 

  

30

  

 

Schedule 5.51

Investor Status

The principal address of the Acquiror Company Principal Shareholder is 174 FM 1830, Argyle, Texas 76226.

 

 

  

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