Document:

Exhibit
        10.23

       

      Loan
        Agreement

      (English
        Translation)

      

      This
        Loan
        Agreement (the “Agreement”) is entered into as of December 20, 2007 between the
        following two parties:

      

      
        	
                Borrower:

              	
                Sutor
                  Steel Technology Co., Ltd. 

              
	
                Address:

              	
                No.8
                  Huaye Road, Dongbang Industrial Park,

              
	 	
                Changshu
                  City, Jiangsu Province, 

              
	 	
                People’s
                  Republic of China, 215534 

              

      

      

      
        	
                Lender:

              	
                Lifang
                  Chen 

              
	
                Address:

              	
                No.8
                  Huaye Road, Dongbang Industrial Park,

              
	 	
                Changshu
                  City, Jiangsu Province, 

              
	 	
                People’s
                  Republic of China, 215534 

              

      

      

      The
        Borrower and the Lender will each be referred to as a “Party” and collectively
        referred to as the “Parties.”

      

      WHEREAS,
        the Borrower wishes to borrow a loan from the Lender for working capital
        and the
        Lender agrees to provide such loan to the Borrower after reviewing the status
        and the request of the Borrower. 

      

      NOW
        THEREFORE, the Parties agree as follows:

      

      

      Article
        1 CURRENCY, AMOUNT AND TERM OF THE LOAN:

      

      1.1
        The
        currency for the loan shall be U.S Dollars.

      

      1.2
        The
        Lender agrees to provide a loan in the amount of
        7,100,000 U.S
        Dollars (the “Loan”) to the Borrower. 

      

      1.3
        The
        term of the Loan shall be
        24
months
        from the date of this Agreement. 

      

      1.4
        The
        loan shall be remitted to the bank account designated by the Borrower no
        later
        than December 20, 2007. 

      

      Article
        2 THE PURPOSE OF THIS LOAN 

      

      2.1 The
        Borrower agrees that the Loan shall only be used as working capital of the
        Borrower.

      

      2.2. Without
        the Lender’s prior written approval, the Borrower shall not use the Loan for any
        other purpose. 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Article
        3 THE INTEREST RATE AND CALCULATION OF INTEREST:

      

      3.1 Interest
        rate: The annual interest rate shall be 5
        %
        during
        the term of this Agreement. If the Chinese related authority adjusts the
        interest rate or the manner of calculation of interest, the interests of
        the
        Loan shall be adjusted accordingly after the date of such adjustment. The
        Lender
        is entitled to make such adjustment of interest without informing the Borrower.
        

      

      3.2 The
        interest shall be calculated on the actual days the Borrower uses the Loan,
        from
        the date the Borrower makes the first drawdown to the date the Loan is repaid.
        For purpose of this Agreement, one year shall be calculated as 360 days.
        

      

      Article
        4 REPAYMENT PLAN

      

      4.1
        The
        Borrower shall repay the loan, including principle and interests no later
        than
        the date on which the term of this Agreement expires. 

      

      4.2
        The
        Borrower shall repay to the Lender the entire amount of the Loan as
        follows:

      

      
        	 	
                Repayment
                  Due Date

              	
                Amount
                  of Principal:

              
	 	 	 
	 	
                December
                  20, 2009

              	
                USD7,100,000
                  or RMB equivalent amount 

              

      

      

      Article
        5 GOVERNING LAW AND DISPUTES RESOLUTION 

      

      5.1 The
        execution, effectiveness, construction, performance, amendment and termination
        of this Agreement and resolution of disputes shall be governed by the laws
        of
        the People’s Republic of China. 

      

      5.2 In
        the
        event of any dispute with respect to the construction and performance of
        this
        Agreement, the Parties shall first resolve the dispute through friendly
        consultations. In the event the Parties fail to reach an agreement through
        consultations, either Party may submit the relevant dispute to the court
        in the
        jurisdiction where the Lender domiciles. 

      

      Article
        6  MISCELLANEOUS

      

      6.1 This
        Agreement shall become effective on the date hereof, and shall expire upon
        the
        date of full performance by the Parties of their respective obligations under
        this Agreement.
        

      

      6.2 This
        Agreement shall be executed in 2 copies in English, each Party having one
        copy
        with equal legal validity. 

      

      6.3 The
        invalidity of any provision of this Agreement shall not affect the validity
        of
        any other provision of this Agreement.

      
        
           

        

        
           

          
            

          

        

        
           

        

         

      

      
        	 	
                Borrower:
                  Sutor Steel Technology Co., Ltd.

              
	 	
                By:
                  /s/ Yongfei Jiang

              
	 	
                Name:
                  Yongfei Jiang 

              
	 	
                Title:
                  Chief Financial Officer 

              
	 	 
	 	 
	 	
                Lender:
                  

              
	 	
                /s/
                  Lifang Chen

              
	 	
                Lifang
                  ChenExhibit
        10.1

      AMENDMENT

       

      This
        Amendment (“Amendment”), to the Purchase Order Financing Agreement dated August
        27,2007 (the “P0”) between Dutchess Private Equities Fund, Ltd (“Dutchess”) and
        Logistical Support, LLC (the “Company”), is made this 22nd day of January,
        2008.

       

      WHEREAS,
        it is
        in the best interest of both parties to facilitate (the “Facilitation”) the
        amendments in connection with the Previous Agreements.

       

      NOW,
        THEREFORE,
        for
        good and valuable consideration the receipt and sufficiency of is hereby
        acknowledged, and the premises and mutual covenants and agreements set forth
        herein and in reliance upon the representations and warranties contained
        herein,
        the parties hereto covenant and agree as follows:

       

      
        	1.	 	
                Amendment
                  to the PO.
                  The PO is hereby amended to DELETE in its entirety the Section
                  1.3
                  -“Repayments” - and contemporaneously the PO is hereby amended to INSERT
                  the following paragraph as the amended Section 1.3 -
                  “Repayment”:

              

      

       

      Section
        1.3 Repayment

       

      The
        Company shall make mandatory payments to the Holder on each Advance
        (“Payment”
or
        collectively, the “Payments”)
        as
        funds are paid to and received by the Company from the contract of orders
        in
        Exhibit B (“Collateral
        Orders”
or
        “Orders”)
        (attached hereto and incorporated herein by reference) sixty (60) calendar
        days
        after the Company’s receipt of all or any portion of funds from Collateral
        Orders listed on Exhibit B or from the Company’s Factoring Line (defined below).
        In the event that during such sixty (60) day period, the Company receives
        an
        excess of one million five hundred thousand dollars ($1,500,000) from the
        Collateral Orders, the Company shall immediately make payment to the Holder
        the
        excess funds received. All payments shall be made via wire transfer in
        immediately available funds. Except
        as specifically stated herein, the Company shall immediately make Payment
        to the
        Holder on ANY funds received from the Collateral Orders listed on Exhibit
        B.

       

      The
        Company shall use all commercially reasonable best efforts to maintain and
        use
        the current factoring line of credit with Wells Fargo Bank, NA (“Factoring
        Line”)
        in
        order to ensure the Holder full payment on the Advance Amount.

       

      The
        Company may make additional payments (“Prepayment”)
        without any penalties provided the Comp y has paid all Interest Payments
        then
        required to be paid.

       

      
        	2.	 	
                Amendment
                  to the PO.
                  The PO is hereby amended to DELETE in its entirety the Article
                  21
                  -“Investor
                  Shares; Date of Consideration”
-
                  and contemporaneously the PO is hereby amended to INSERT the following
                  paragraph as the amended Article 21 — “Investor
                  Shares; Date of Consideration”:

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Article
        21   Investor
        Shares; Date of Consideration

       

      a. The
        Parent shall issue to the Holder one million (1,000,000) shares of unregistered,
        restricted Common Stock (the “Incentive
        Shares”)
        as an
        incentive for the Holder entering into this Agreement with the Company, of
        which
        the Holder acknowledges five hundred thousand (500,000) Incentives Share
        have
        been paid as of the date of this Amendment. The Incentive Shares shall be
        issued
        and delivered to the Holder upon Closing. The Parent’s failure to issue the
        Incentive Shares shall constitute an Event of Default and the Holder may
        elect
        to enforce the remedies outlined in Article 4 hereof. The Parent’s obligation to
        provide the Holder with the Incentive Shares, as set forth herein, shall
        survive
        the termination of this Note and any default on this obligation shall provide
        the Holder with all rights, remedies and default provisions set forth in
        this
        Note or otherwise available by law. The Incentive Shares shall carry piggyback
        registration rights until such time as the Holder can freely sell the Incentive
        Shares promulgated under Rule 144 without restrictions for volume limitations
        thereunder. The Parent shall notify the Holder within ten (10) business days
        of
        its intention to file a registration statement, and the Holder shall have
        the
        option to request the Incentive Shares to be included in the registration
        statement. In the event that the Holder requests the Parent includes the
        Incentive Shares and the Parent files a registration statement that does
        not
        include the Incentive Shares, the Parent shall pay to the Holder five hundred
        thousand (500,000) additional shares. The Parent shall not be obligated to
        pay
        the five hundred thousand (500,000) additional shares in the event the United
        States Securities and Exchange Commission deems the Incentives Shares in
        excess
        of those allowed to be registered under Rule 415. The Holder shall have retain
        the full right to waive any such piggyback registration rights.

       

      
        	3.	 	
                No
                  other terms, rights or provisions of the Transaction Documents
                  are or
                  should be considered to have been modified by the terms of this
                  Amendment
                  and each party retains all other rights, obligations, privileges
                  and
                  duties contained in the Transaction
                  Documents.

              

      

       

      Agreed
        and Accepted, and duly authorized to sign, on this 22nd day of January,
        2008.

       

       

      
        	                
                	 
	By
                Dutchess:                                                                  	 
	            Douglas
                H. Leighton, Director	 
	
              	 
	 	 
	By
                Company:                                                                                          	 
	                Bruce
                W. Littell, CEO

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