Document:

cnsv_ex10-1.htm

Exhibit 10-1

 

WHEREAS, on August 21, 2008, Consolidation Services, Inc., gave its promissory note in the amount of $500,000,00 to Larry Bruce Herald; and

 

WHEREAS, said note was due and payable in full on or before October 15, 2008; and

 

WHEREAS, on November 7, 2008, Larry Bruce Herald agreed to extend the note and to accept the immediate payment of $200,000.00, with additional payments of $150,000.00, plus interest, due and payable on January 15, 2009, and April 15, 2009; and

 

WHEREAS, the payment of $200,000.00. was made. and the payment of $150,000.00, plus interest, was made on or about January 15, 2009; and

 

WHEREAS, by agreement entered on the 16th day of April, 2009, Larry Bruce Herald agreed to extend the final payment on the note of $150,000.00, plus interest, until May 15, 2009; and

 

WHEREAS, Larry Bruce Herald has agreed to accept a .payment of $15,000.00, plus interest, and has agreed to further extend the balance due on the final payment of the note;

 

NOW, THEREFORE, for and in consideration of the mutual benefits to be realized by the parties hereto, this agreement is made and entered into on this 27th day of May, 2009, by and between CONSOLIDATION SERVICES, INC., of 2756 N. Green Valley Parkway, Suite 225, Henderson, Nevada 89014, and LARRY BRUCE HERALD, of Route 1, Box 138, Booneville,
Kentucky 41314.

 

1.  Consolidation Services, Inc. shall pay upon execution of this instrument the interest which is due and payable, plus the amount of $15,000.00.

 

2.  The final payment of $135,000.00, plus interest at the rate of Ten (10%) percent per anum, from the date of the execution of this instrument, shall be due and payable on the .15th
day of July, 2009.

 

 

  

 

  

3. At any time prior to the due date of the final payment, the final payment may be made in whole or in part without penalty or premium.

 

 

IN TESTIMONY WHEREOF, witness our signatures hereto on the day and date set forth hereinabove.

 

CONSOLIDATION SERVICES, INC.

 

	
  
	
By: /s/ Johnny R. Thomas

 

	
  
	
JOHNNY R. THOMAS, President

 

ATTEST:

 

/s/

SECRETARY

 

 

	
  
	
/s/ Larry B. Herald

 

	
  
	
LARRY BRUCE HERALD

 

STATE OF NEVADA COUNTY OF CLARK

 

I, Tom C. Englund, notary public for the State of Nevada at large, certify that the foregoing was produced before
me in said County and State, and signed, acknowledged and delivered by JOHNNY R. THOMAS, for and on behalf of CONSOLIDATION SERVICES, INC., as President, and attested by Johnny R. Thomas, Secretary, on this 27th day
of May, 2009.

 

/s/ Tom C. Englund

NOTARY PUBLIC

My commission expires: 4/08/2012

 

 

 

 

 

 

 

 

 

 

 

 

  

2cnsv_ex10-2.htm

Exhibit 10-2

 

 

Amendment to August 26, 2008 AMS and CSI Agreement

Whereas, Consolidation Services Inc (“CSI”) and AMS Development LLC (“AMS”) entered into an agreement dated August 26th , 2008 (“Agreement”) which provided for the issuance of 200,000 restricted shares of CSI common stock to the
undersigned four parties (“Share Owners”); and

Whereas, the undersigned parties desire to amend the Agreement effective April 26, 2009 as specified herein; and

Whereas, the restricted shares are subject to a lock up agreement, pursuant to the Agreement, which limits the number of shares which can be sold to 4,000 shares per week, which cannot commence in public markets until July 1, 2009; and

Whereas, CSI has an obligation to guarantee that the sellers of said shares receive at least $2.00 per share for any shares; and

Whereas, certain revenue milestones from the AMS project have not been met as anticipated when the Agreement was signed by the parties, and

Whereas, share liquidity of CSI common shares is less than anticipated due to the previous Whereas and the current economic situation; and

Whereas, CSI is permitted to commence buying the restricted shares in a private transaction prior to July 1, 2009.

Now Therefore; the undersigned parties agree to amend the Agreement concerning the sale of restricted shares as follows:

	
  
	
1)
	
CSI agrees to purchase the restricted shares directly from the Share Owners at a price of $2.00 per share on the following terms.

	
  
	
2)
	
CSI agrees to allocate 25% of CSI’s revenues from the Owsley 1000 acre project to repurchase the shares on a monthly basis.

	
  
	
3)
	
The undersigned Share Owners agree to sell their restricted shares directly to CSI for $2.00 per share and they agree not to sell any of said shares through public markets or to third parties, except as provided for herein.

	
  
	
4)
	
The Weekly Quota of four thousand shares shall be replaced by a monthly number which shall be calculated by: Dollars received by CSI for any given month from the Owsley 1000 acre coal mining project times 25% divided by $2.00 which shall equal the number of restricted shares which shall be sold by the undersigned Share Owners.

	
  
	
5)
	
All the undersigned parties understand that the monthly repurchase under the terms of this amendment may result in all 200,000 shares being purchased quicker or slower than the fifty weeks contemplated in the Agreement.

 

 

  

1

  

	
  
	
6)
	
Any of the undersigned Share Owners may elect to retain shares which are eligible for sale by the above formula by notifying CSI in writing; however, said retained shares cannot be sold in public markets until all the shares offered for sale by the undersigned share owners are repurchased by CSI, except as provided for in item 7 below

	
  
	
7)
	
In the event the common stock of CSI has closed above $2.25/share for the last trade in public markets for the fifteen consecutive trading days immediately prior to that months scheduled repurchase of shares by CSI; the Share Owner(s) may elect to sale that months quota in public markets at any time, at Share Owner(s) discretion.

	
  
	
8)
	
The number of shares which shall be repurchased from each of the four undersigned share Owners shall be determined based upon the percentage ownership by the individual Share Owner as a part of the 200,000 share total, unless agreed to in writing by all the undersigned parties.

	
  
	
9)
	
When Share Owners elect to retain shares eligible for repurchase by CSI per items 4, 6 and 7; shall cease to have any obligation to guarantee the $2.00 price for said shares.

Witnesseth, the signatures of the parties hereto on the day and date set forth hereinabove.

Consolidation Services Inc.                                      Undersigned Share Owners

                                                                                       200,000
shares total

/s/ Johnny R. Thomas                                                  /s/
Billy David Altizer

Johnny R. Thomas, President                                    AMS Development LLC,

                                                                                        72,500
shares

 

                                                                                        /s/
Billy David Altizer

                                                                                        Billy
David Altizer

                                                                                         45,000
shares

 

                                                                                        /s/
Pat Mitchell

                                                                                        Pat
Mitchell Enterprises, Inc

                                                                                        45,000
shares

                                                                                        /s/
Glenn Sitter

                                                                                        Sitter
Drilling LLC

                                                                                         37,500
shares

 

 

 

  

2cnsv_ex10-3.htm

Exhibit 10-3

 

 

Amendment to March 20, 2008 Buckhorn and CSI Agreement

Whereas, Consolidation Services Inc (“CSI”) and Buckhorn Resources LLC (“Buckhorn”) entered into an agreement dated March 20th , 2008 (“Agreement”) which provided for the issuance of 1,093,750 restricted shares of CSI common stock
to the undersigned three parties (“Share Owners”); and

Whereas, the undersigned parties desire to amend the Agreement effective April 26, 2009 as specified herein; and

Whereas, the restricted shares are subject to a lock up agreement, pursuant to the Agreement, which limits the number of shares which can be sold to 21,034 shares per week, which cannot commence in public markets until July 1, 2009; and

Whereas, CSI has an obligation to guarantee that the sellers of said shares receive at least $1.92 per share for any shares; and

Whereas, certain revenue milestones from the mining projects have not been met as anticipated when the Agreement was signed by the parties, and

Whereas, share liquidity of CSI common shares is less than anticipated due to the previous "Whereas" and the current economic situation; and

Whereas, CSI is permitted to commence buying the restricted shares in private transactions prior to July 1, 2009.

Now Therefore; the undersigned parties agree to amend the Agreement concerning the sale of restricted shares as follows:

	
  
	
1)
	
CSI agrees to purchase the restricted shares directly from the Share Owners at a price of $1.92 per share on the following terms.

	
  
	
2)
	
CSI agrees to allocate 25% of CSI’s revenues from the Buckhorn coal projects to repurchase the shares on a monthly basis.

	
  
	
3)
	
The undersigned share owners agree to sell their restricted shares directly to CSI for $1.92 per share and they agree not to sell any of said shares through public markets or to third parties except as provided for herein.

	
  
	
4)
	
The Weekly Quota of 21,034 shares shall be replaced by a monthly number which shall be calculated by: Dollars received by CSI for any given month from the Buckhorn coal mining project times 25% divided by $1.92 which shall equal the number of restricted shares which shall be sold by the undersigned share owners to CSI.

	
  
	
5)
	
All the undersigned parties understand that the monthly repurchase under the terms of this amendment may result in all 1,093,750 shares being purchased quicker or slower than the fifty two weeks contemplated in the Agreement.

 

 

  

1

  

	
  
	
6)
	
Any of the undersigned Share Owners may elect to retain shares which are eligible for sale by the above formula by notifying CSI in writing; however, said retained shares cannot be sold in public markets until all the shares offered for sale by the undersigned share owners are repurchased by CSI, except as provided for in item 7 below.

	
  
	
7)
	
In the event the common stock of CSI has closed above $2.25/share for the last trade in public markets for the fifteen consecutive trading days immediately prior to that months scheduled repurchase of shares by CSI; the Share Owner(s) may elect to sale that months quota in public markets at any time, at Share Owner(s) discretion.

	
  
	
8)
	
The number of shares which shall be repurchased from each of the three undersigned Share Owners shall be determined based upon the percentage ownership by the individual Share Owner as a part of the 1,093,750 share total, unless agreed to in writing by all the undersigned parties.

	
  
	
9)
	
When Share Owners elect to retain shares eligible for repurchase by CSI per items 4, 6 and 7; CSI shall cease to have any obligation to guarantee the $1.92 price for said shares.

Witnesseth, the signatures of the parties hereto on the day and date set forth hereinabove.

Consolidation Services Inc.                                       Undersigned Share Owners

                                                                                       1,093,750
shares total

/s/ Johnny R. Thomas

Johnny R. Thomas, President                                     /s/ Billy David Altizer

                                                                                        
Billy David Altizer

                                                                                         215,161
shares

 

                                                                                        /s/
Pat Mitchell

                                                                                        Pat
Mitchell Enterprises, Inc.

                                                                                        212,274
shares

                                                                                        /s/
Howard Prevette  &  /s/ W. Dale Harris

                                                                                        Timber
Mine Enterprises

                                                                                         666,315
shares

  

2

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