Document:

med_Ex4_1

		
			Exhibit 4.1
		

		
			DESCRIPTION OF THE REGISTRANT’S SECURITIES
		

		
			REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES
		

		
			EXCHANGE ACT OF 1934
		

		
			As of December 31, 2019, Medifast, Inc. has two classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: (i) our common stock, par value $0.001 per share (“common stock”), and (ii) our preferred stock purchase rights (the “Rights”).
		

		
			References in the following discussion to the “Company,” “we,” “our” and “us” and similar references mean Medifast, Inc. excluding, unless the context otherwise requires or otherwise expressly stated, its subsidiaries.
		

		
			The following is a summary description of such securities, and does not purport to be complete.  For a complete description of the terms and provisions of such securities, refer to our Restated and Amended Certificate of Incorporation (our “Charter”), Amended and Restated Bylaws (our “Bylaws”) and the Rights Agreement (as defined below).  This summary description is qualified in its entirety by reference to these documents, each of which is included as an exhibit to the Annual Report on Form 10-K to which this exhibit is a part, and the Delaware General Corporation Law (the “DGCL”).
		

		
			AUTHORIZED CAPITAL STOCK
		

		
			Pursuant to our Charter, the total number of shares of all classes of capital stock which we are authorized to issue is 21,500,000 shares, consisting of: (9) 20,000,000 shares of common stock and (ii) 1,500,000 shares of preferred stock, par value $0.001 per share (“preferred stock”), of which 150,000 shares are designated as Series D Junior Participating Preferred Stock and . 150,000 shares are designated as Series E Junior Participating Preferred Stock (“Series E Preferred Stock”).
		

		
			COMMON STOCK
		

		
			Voting and Other Rights
		

		
			Holders of shares of our common stock are entitled to one vote for each share held of record on all matters to be voted on by our stockholders, including the election of directors, and do not have cumulative voting rights.  Shares representing a majority of the votes entitled to be cast on a matter, represented in person or by proxy, will constitute a quorum at all meetings of stockholders. Except as otherwise provided in our Charter, our Bylaws, a preferred stock designation or by law, the affirmative vote of a majority of the votes cast at a meeting of stockholders by the holders of stock entitled to vote thereat will be the act of the stockholders, provided that, with respect to the election of directors, if the number of nominees exceeds the number of directors to be elected, the directors shall be elected by the affirmative vote of a plurality of the votes cast. Our directors elected at each annual meeting of stockholders shall hold office for a term expiring at the next annual meeting of stockholders. Each director shall hold office until such director’s successor is elected and qualified or until such director’s earlier resignation or removal.
		

		
			
		

		
			

		 

		

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			Dividends
		

		
			Subject to the preferences that may be applicable to any then outstanding preferred stock, the holders of our outstanding shares of common stock are entitled to receive ratably dividends, if any, as may be declared from time to time by our board of directors (our “Board”) out of legally available funds.
		

		
			Liquidation, Redemption and Preemptive Rights
		

		
			In the event of our liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of any outstanding shares of preferred stock.  Holders of our common stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable to our common stock.  The rights, preferences and privileges of the holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock that we may designate and issue in the future.
		

		
			Preferred Stock
		

		
			Pursuant to our Charter, our Board has the authority, without further action by the stockholders to designate and issue up to 1,500,000 shares of preferred stock in one or more series, to determine or alter the rights, preferences, privileges and restrictions granted to or imposed upon any wholly unissued series of preferred stock and the number of shares constituting any such series and the designation thereof, or any of them; and to increase or decrease the number of shares of any series subsequent to the issuance of that series, but not below the number of shares of such series then outstanding.
		

		
			The DGCL provides that the holders of preferred stock will have the right to vote separately as a class (or, in some cases, as a series) on an amendment to our Charter if the amendment would change the par value, the number of authorized shares of the class or the powers, preferences or special rights of the class or series so as to adversely affect the class or series, as the case may be.  This right is in addition to any voting rights that may be provided for in the applicable certificate of designation.
		

		
			Our Board may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock.  The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in our control and may adversely affect the market price of the common stock and the voting and other rights of the holders of common stock.  Additionally, the issuance of preferred stock may have the effect of decreasing the market price of our common stock.
		

		
			
		

		
			

		 

		

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			PREFERRED STOCK PURCHASE RIGHTS
		

		
			Rights Agreement
		

		
			On November 20, 2019, we entered into the Rights Agreement, dated as of November 21, 2019 (the “Rights Agreement”), by and between the Company and American Stock Transfer & Trust Company, LLC, as rights agent.
		

		
			Rights Dividend
		

		
			Pursuant to the Rights Agreement, our Board declared a dividend distribution of one Right for each outstanding share of our common stock to stockholders of record as of the close of business on December 21, 2019 (the “Record Date”).  In addition, one Right will automatically attach to each share of common stock issued between the Record Date and the Distribution Date (defined below).  Each Right entitles the registered holder thereof to purchase one one-thousandth of a share of our Series E Preferred Stock at an exercise price of $310.00 per share (the “Exercise Price”), subject to adjustment, under certain conditions specified in the Rights Agreement and summarized below. This portion of a share of Series E Preferred Stock will give the stockholder approximately the same dividend, voting, and liquidation rights as would one share of common stock. Prior to exercise, the Right does not give its holder any dividend, voting, or liquidation rights.
		

		
			Distribution Date
		

		
			Initially, the Rights are not exercisable and are attached to and trade with all shares of common stock outstanding as of, and issued subsequent to, the Record Date.  The Rights will separate from the common stock and will become exercisable upon the close of business on the tenth business day following the first date of public announcement that a person or group of affiliated or associated persons has acquired beneficial ownership (as defined in the Rights Agreement) of 10% or more of the outstanding shares of common stock (the “Distribution Date”), subject to certain exceptions as set forth in the Rights Agreement.
		

		
			Until the Distribution Date (or earlier redemption, exchange or expiration of the Rights), the common stock certificates (or registration on the Company’s stock ledger) will also evidence the Rights, and any transfer of shares of common stock will constitute a transfer of Rights. After the Distribution Date, the Rights will separate from the common stock and be evidenced or by Rights certificates that we will mail to all eligible holders of common stock (“Rights Certificates”). Any Rights held by an Acquiring Person are null and void and may not be exercised.
		

		
			Consequences of a Person or Group Becoming an Acquiring Person
		

		
			Flip In. If a person or group becomes an Acquiring Person, all holders of Rights except the Acquiring Person shall thereafter have the right to receive, upon exercise, that number of shares of common stock (or, in certain circumstances, cash, property or other securities of the Company) which equals the Exercise Price divided by 50% of the current market price per share of common stock at the date of the occurrence of such event.
		

		
			
		

		
			

		 

		

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			Flip Over. If the Company is later acquired in a merger or similar transaction after the Distribution Date, all holders of Rights except the Acquiring Person shall thereafter have the right to receive, upon exercise, that number of shares of common stock of the acquiring company which equals the Exercise Price divided by 50% of the current market price of such common stock at the date of the occurrence of the event.
		

		
			Notional Shares. Shares held by affiliates and associates of an Acquiring Person, and notional shares that are the subject of or the reference securities for, underlie, or are beneficially owned, directly or indirectly, by a counterparty under, a derivatives contract with an Acquiring Person, will be deemed to be beneficially owned by the Acquiring Person.
		

		
			Series E Preferred Stock Provisions
		

		
			Each one one-thousandth of a share of Series E Preferred Stock, if issued:
		

		
			will not be redeemable;
		

		
			will entitle its holder to quarterly dividend payments of $0.001 per share, or an amount equal to the dividend paid on one share of common stock, whichever is greater;
		

		
			will entitle its holder upon liquidation either to receive $1.00 or an amount equal to the payment made on one share of common stock, whichever is greater;
		

		
			will have the same voting power as one share of common stock; and
		

		
			if shares of the common stock are exchanged via merger, consolidation, or a similar transaction, will entitle holders to a per share payment equal to the payment made on one share of common stock.
		

		
			The value of one one-thousandth interest in a share of Series E Preferred Stock should approximate the value of one share of common stock.
		

		
			Expiration
		

		
			The Rights will expire on October 21, 2020.
		

		
			Redemption
		

		
			The Board may redeem the Rights for $0.001 per Right at any time before any person or group becomes an Acquiring Person. If the Board redeems any Rights, it must redeem all of the Rights. Once the Rights are redeemed, the only right of the holders of Rights will be to receive the redemption price of $0.001 per Right. The redemption price will be adjusted if the Company has a stock split or stock dividends of its common stock.
		

		
			Exchange
		

		
			After a person or group becomes an Acquiring Person, but before an Acquiring Person owns 50% or more of the outstanding common stock, the Board may extinguish the Rights by
		

		
			
		

		
			

		 

		

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			exchanging one share of common stock or an equivalent security for each Right, other than Rights held by the Acquiring Person.
		

		
			Anti-Dilution Provisions
		

		
			The Board may adjust the purchase price of the Series E Preferred Stock, the number of Series E Preferred Stock issuable and the number of outstanding Rights to prevent dilution that may occur from a stock dividend, a stock split, a reclassification of the Series E Preferred Stock or common stock. No adjustments to the Exercise Price of less than 1% will be made.
		

		
			Amendments
		

		
			The terms of the Rights Agreement may be amended by the Board without the consent of the holders of the Rights. After a person or group becomes an Acquiring Person, the Board may not amend the agreement in a way that adversely affects holders of the Rights.
		

		
			Miscellaneous
		

		
			Until a Right is exercised, the holder thereof, as such, will have no separate rights as a stockholder of the Company, including, without limitation, the right to vote or to receive dividends in respect of the Rights. Although the distribution of the Rights will not be taxable to stockholders or to the Company, stockholders may, depending upon the circumstances, recognize taxable income in the event that the Rights become exercisable for common stock (or other consideration) or for common stock of the acquiring company or in the event of the redemption of the Rights as set forth above.
		

		
			Anti-Takeover Effects
		

		
			The Rights may have certain anti-takeover effects. The Rights may cause substantial dilution to any person or group that attempts to acquire the Company without the approval of the Board. As a result, the overall effect of the Rights may be to render more difficult or discourage a merger, tender offer or other business combination involving the Company that is not supported by the Board.
		

		
			DELAWARE ANTI-TAKEOVER LAW AND PROVISIONS OF OUR CHARTER AND OUR BYLAWS
		

		
			Delaware Anti-Takeover Law
		

		
			We are subject to Section 203 of the DGCL (“Section 203”). In general, Section 203 prohibits a publicly held Delaware corporation from engaging in “business combination” transactions with any “interested stockholder” for a period of three years following the time that the stockholder became an interested stockholder, unless:
		

		
			prior to the time the stockholder became an interested stockholder, the corporation’s board of directors approved either the applicable business combination or the transaction which resulted in the stockholder becoming an interested stockholder;
		

		
			
		

		
			

		 

		

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			upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the voting stock owned by the interested stockholder) shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which the employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
		

		
			at or subsequent to the time that the stockholder became an interested stockholder, the business combination is approved by the corporation’s board of directors and authorized at an annual or special meeting of stockholders by the affirmative vote of at least 66-2/3% of the outstanding voting stock which is not owned by the interested stockholder.
		

		
			A “business combination” is defined to include, among other things and in general and subject to exceptions, a merger of the corporation with the interested stockholder; a sale of 10% or more of the market value of the corporation’s consolidated assets to the interested stockholder; certain transactions that result in the issuance of the corporation’s stock to the interested stockholder; a transaction that has the effect of increasing the proportionate share of the corporation’s stock owned by the interested stockholder; and any receipt by the interested stockholder of loans, guarantees or other financial benefits provided by the corporation. An “interested stockholder” is defined to include, in general and subject to exceptions, a person that (1) owns 15% or more of the outstanding voting stock of the corporation or (2) is an “affiliate” or “associate” (as defined in Section 203) of the corporation and was the owner of 15% or more of the corporation’s outstanding voting stock at any time within the prior three year period.
		

		
			A Delaware corporation may opt out of Section 203 with an express provision in its original certificate of incorporation or by an amendment to its certificate of incorporation or bylaws expressly electing not to be governed by Section 203 and approved by a majority of its outstanding voting shares. We have not opted out of Section 203. As a result, Section 203 could delay, deter or prevent a merger, change of control or other takeover of our company that our stockholders might consider to be in their best interests, including transactions that might result in a premium being paid over the market price of our common stock, and may also adversely affect the market price of our common stock and any other securities that we may issue.
		

		
			Charter and Bylaws
		

		
			Provisions of our Charter and our Bylaws may delay or discourage transactions involving an actual or potential change in our control or change in our management, including transactions in which stockholders might otherwise receive a premium for their shares or transactions that our stockholders might otherwise deem to be in their best interests.  Therefore, these provisions could adversely affect the price of our common stock.  Among other things, our Charter and our Bylaws:
		

		
			permit our Board to issue up to 1,500,000 shares of preferred stock, with any rights, preferences and privileges as they may designate;
		

		
			
		

		
			

		 

		

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			provide that the authorized number of directors may be fixed from time to time exclusively by the Board pursuant to a resolution adopted by a majority of the total number of directors which the Company would have if there were no vacancies (the “Whole Board”);
		

		
			provide that any vacancies resulting from death, resignation, retirement, disqualification, removal from office or other cause, as well as newly created directorships, may, except as otherwise required by law and subject to the rights of the holders of any series of preferred stock, be filled by the affirmative vote of a majority of directors then in office, even if less than a quorum, or by a sole remaining director, and not by the stockholders;
		

		
			provide that no action taken by our stockholders by written consent will be effective until independent inspectors engaged by the Company for the purpose of performing a ministerial review of the validity of the consents and revocations have completed their review, determined that the requisite number of valid and unrevoked consents delivered to the Company in accordance with our Bylaws and applicable law have been obtained to authorize or take the action specified in the consents, and certified such determination for entry in the records of the Company kept for the purpose of recording the proceedings of meetings of stockholders; and
		

		
			provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner, and also specify requirements as to the form and content of a stockholder’s notice; do not provide for cumulative voting rights (therefore allowing the holders of a majority of the shares of our common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose); and provide that special meetings of our stockholders may be called only by (1) our Chairman of the Board, our President or our Secretary when directed to do so by resolution of the Board, (2) our Secretary at the written request of directors representing a majority of the Whole Board or (3) our Secretary upon the written request of the holders of record of at least a majority of the outstanding shares of common stock of the Company.
		

		
			Any of these provisions may be amended by a majority of our Board, subject to certain limitations as set forth in our Charter, Bylaws and any certificate of designation.
		

		
			 
		

		 

		

			-7-rssv_ex101.htm

EXHIBIT 10.1

 
PURCHASE AGREEMENT

 
No.:RS-WD-202002

 
收购协议

 
协议号:

RS-WD-202002

 
This agreement entered into this ___ day of February 2020 by and between Resort Savers, Inc. (RS) a Nevada Corporation in the United States of America (USA) acting on behalf of its wholly owned subsidiary in Shenzhen. PRC (used for this acquisition to be compliance with rules, laws and regulations promulgated in the PRC) and Mr. Liu FaKuan(Seller). RS and Seller are referred to collectively herein as The Parties.
 
本协议于2020年2月 日由美国内华达州Resort Savers, Inc. (RS)代表其全资其在深圳的合资子公司(在中国合法成立,且用于本次收购)与刘发宽先生签订。 
 
CONTRACT INTENTION: 
The purpose of this agreement is to transfer 100% ownership of Henan Wandi Mining Product Development Co, Ltd (Wandi) a corporation organized in the People’s Republic of China (PRC) so that immediately following such transfer, Wandi shall be a wholly owned subsidiary of RS by and through its afore described wholly owned subsidiary. 
 
合同意向:本协议的目的是转让中华人民共和国境内的河南万迪矿产品开发有限公司(万迪)100%的所有权。转让完成后,RS将通过其全资子公司完全拥有万迪。
 
SUBJECT SHARES: 
The Seller represents, promises and warrants that Seller owns 100% of the issued and outstanding shares of any class of Wandi; that Seller is the lawful owner of all the Shares, free and clear of all security interests, liens, encumbrances, and other charges; that there are no existing options, stock purchase agreements, redemption agreements, calls or conversion rights related to the Shares; and that the Seller has full power and authority to execute this Agreement and carry out the transactions contemplated by it, including selling the Shares and transferring the 49% ownership in the Mine set forth below, and that no further action is necessary by the Seller to make this Agreement valid and binding upon Seller, including the representation and warranty by Seller that no approval for this Agreement or the transfer of shares and ownership is required by Zhengzhou Yuzhong Coal Industry Co., Ltd. or any PRC or Chinese Communist Party (CCR) agency.
 
标的股份:刘发宽声明、承诺和保证,刘发宽拥有100%万迪股份数量;刘发宽是所有股份的合法所有人,不存在任何担保权益、留置权,产权负担和其他费用;不存在与股票有关的期权股票、股票购买协议、赎回协议、认购或转换权;刘发宽有充分的权力和权限签署本协议并进行其计划的交易,包括出售股份和转让下文所述矿山49%的所有权,并且刘发宽无需采取进一步行动使本协议对刘发宽有效并具有约束力,包括刘发宽声明和保证无需郑州裕中煤业有限公司或任何中国政府机构和中国共产党(CCR)机构批准本协议生效及股份和所有权转让。
 

	 
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SUBJECT ASSETS: 
The Seller represents, promises and warrants that Wandi owns 49% of that certain coal bearing mine known as You Zhou Shenhuo Kuanfa Mining Company Ltd which contains no less than 24 million tons of proven reserves of coal (The Mine) as determined by that certain geological report entitled REPORT ON EVALUATION AND CONSULTATION OF MINING RIGHT OF HENAN WANDI MINERAL PRODUCT DEVELOPMENT COMPANY, LTD. dated and certified by Beijing Zhongzunhua Assets Evaluation Co. Ltd.. Said reserves are low sulfur clean coal and are suitable under all standards governing the mining and sale of coal to power plants or other users as established by the government of the PRC. Further, Seller warrants that such coal is recoverable in an economically viable manner based on current market conditions and prices for labor, energy, equipment etc. In addition to the Mine, the assets set forth in Exhibit “A” to this Agreement are owned by You Zhou Shenhuo Kuanfa Mining Company and Wandi, free and clear of any security interests, liens, encumbrances, or other charges.
 
标的资产:刘发宽声明、承诺并保证,万迪拥有禹州神火宽发矿业有限公司49%的含煤矿山,该含煤矿山的已探明煤炭储量不少于2400万吨,该储量由《河南万迪矿产品开发有限公司采矿权评估咨询报告》确定,并由北京中尊华资产评估有限公司(矿山)认证。上述储量为低硫清洁煤,适用于中华人民共和国政府制定的所有有关开采和向发电厂或其他用户销售煤炭的标准。此外,刘发宽保证,根据当前的市场状况以及劳动力、能源、设备等的价格,此类煤炭的开采将会产生经济效益。另外,在本协议Exhibit “A” 中所描述的禹州神火宽发矿业有限公司的煤矿资产为自由拥有,没有任何担保、留置权或其他一切未披露的附属责任。
 
The Parties recognize that the remaining 51% of The Mine is owned by Zhengzhou Yuzhong Coal Industry Co., Ltd. (a State-owned enterprise). Nevertheless, Seller warrants that by contractual right Wandi is entitled to 100% of the performance, in any form whatsoever, derived from the operation of The Mine, and that such contractual rights will continue to be in legal force and effect following the contemplated acquisition, without the need for further approval by Zhengzhou Yuzhong Coal Industry Co., Ltd.or any PRC or CCR agency.
 
双方确认,该矿剩余的51%归郑州裕中煤业有限公司(国有企业)所有。然而,刘发宽保证,根据合同权利,万迪有权以任何形式从矿山运营中获得100%的经济利益。此合约所赋予的权利将不会因为收购而改变,也不需要郑州裕中煤业有限公司或任何中国政府机构和中国共产党(CCR)机构的额外批准。
 

	 
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APPROVALS FOR OPERATION: 
The Seller represents, promises and warrants that all necessary authority, permissions and permits from any and all PRC or CRC agencies, necessary to operate the Mine and extract and sell coal, are currently in place, valid and effective, and that the contemplated acquisition will not affect their legal force and effect, and they will continue to be valid, effective and binding, and Seller agrees to fully assist RS with any filings that may be necessary with any PRC or CCR agency as a result of the contemplated acquisition.
 
经营许可: 刘发宽声明、承诺并保证,任何及所有中国政府、中国共产党机构为经营煤矿、开采和销售煤炭所需的所有必要授权、许可和许可证目前均已到位、成立和有效,且预期收购不会影响其法律效力,它们将继续成立、有效并具有约束力,刘发宽同意全力协助RS处理因预期收购而可能需要向任何中国政府和中国共产党机构提交的任何文件。
 
MINING PLAN: 
An operating agreement has been entered into with Shenhuo Mining Group, an established mine operator in the PRC. Under this agreement, the operator will provide training, expert, management, engineering, compliance and all other expertise or personnel to effectively operate the mine and extract coal at a commercially reasonable price which will protect profitability for RS.
 
采矿计划:已与神火集团(一家在中国成立的矿山运营商)签订运营协议。根据本协议,运营商将提供训练有素的专家、管理人员、工程人员、合规人员和所有其他专业知识或人员,以便以商业上合理的价格有效运营煤矿和开采煤炭,从而保护RS的盈利能力。
 
CONSIDERATION: 
RS shall pay sellers $90,000,000 USD in 60,000,000 common restricted shares of the capital stock of RS valued at the agreed value between the parties of $1.50 per share and are traded on the OTCQB in the USA. Said shares shall be delivered forthwith upon closing of this Agreement as directed by Seller.
 
对价:RS应以股票的方式向刘发宽支付90,000,000美元,即以在美国的OTCQB上进行交易的60,000,000股RS的普通限制股按商定价格每股1.5美元支付给刘发宽。上述股份应按照刘发宽的指示在本协议成交后立即交付。
 
HOLDERS OF SHARES: 
Seller shall not hold all the shares received in this transaction for its own account. Shares of RS paid to Seller shall be redistributed at closing of this transaction as described in an exhibit to be provided by Seller at least 2 business days prior to closing. 
 
股份持有人:刘发宽将不会持有本次交易中收到的全部股份。RS支付给刘发宽的股份应在本交易完成时重新分配。分配方案将在附件中阐述,并由刘发宽在本交易结束前至少2个工作日提供。
 

	 
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CLOSING: 
This contract is binding, and The Parties are bound hereby to complete all tasks required herein. The closing will be at a time designated by The Parties as is mutually agreeable but not later than 30 March 2020. Closing shall be defined as delivery of the shares by RS to Seller.
 
交易结语:本合同具有约束力,双方有义务完成本合同要求的所有任务。交易将在双方约定的时间结束,但不得迟于2020年3月30日。交割应定义为RS向刘发宽交付股份。
 
ADDITIONAL COMPENSATED PARTICIPANTS: 
The Parties acknowledge the assistance of a to be named party, Labertew and Associates and Unicast Equities LLC, all of which are being compensated by RS under separate agreement.
 
其他有补偿的参与者:双方承认Labertew and Associates和Unicast Equities LLC的协助,RS均根据单独的协议对其进行补偿。
 
SELLERS FINANCIAL WARRANTIES: 
The Parties understand that the financial statements presented by seller representing the financial condition of Wandi and of You Zhou Shenhuo Kuanfa Mining Company Ltd, and including proof of ownership of all assets and proof of existence of all necessary authority, permissions and permits from any and all PRC or CRC agencies in order to legally operate the Mine, are presently under review. Accordingly, 18 million shares of the afore described 60 million shares shall be withheld by RS until RS receives and approves, in its sole discretion, the reviewed statements and documentation. In the event RS chooses to withhold any shares the value of the acquisition shall be adjusted by the amount of 1.50 USD per share. And the seller has the right to accept the adjusted deal or reject the whole deal before the closing.
RS warrants said review is being conducted according to IFRS guidelines.
 
刘发宽财务保证:双方理解,刘发宽提交的代表万迪和禹州神火宽发矿业有限公司财务状况的财务报表,以及对资产的拥有权的证明,并中国政府和中国共产党的机构所颁发的用于合法开采煤矿的必要的授权、许可证目前正在审查中。因此,RS将保留上述6000万股中的1800万股,直到RS自行决定接收并批准,时间不得晚于交易结束。如果RS选择扣留任何股份,则收购价值应调整为每股1.50美元,刘发宽有权决定是否接受最新的估值及重新考虑达成此交易。
 
RS保证,上述审查是根据国际财务报告准则进行的。
 
ACCREDITED INVESTORS: 
Seller represents and warrants that Seller understands the rules promulgated by the SEC of the United States which define accredited investors. Further, Seller represents that Seller is an accredited investor, able to accept the risks associated with receiving shares of RS as compensation for the Sale of the assets set forth herein.
 
合格投资者:刘发宽声明并保证其理解美国证券交易委员会颁布的定义合格投资者的规则。此外,刘发宽表示,他们是合格投资者,能够接受RS购买其资产后对其所偿付股份的相关风险。
 

	 
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RETENTION OF OFFICERS AND DIRECTORS: 
By this transaction the Seller becomes the largest shareholder of RS. Accordingly, Seller will have the right to make changes to the Directors and Officers of RS by following certain procedures provide in applicable laws and rules. Nevertheless, Seller agrees and promises to retain the current Officers and Directors subject only to their willingness to continue in their respective capacities. Notwithstanding this provision, The Parties agree and acknowledge that Seller may appoint additional officers and directors anytime.
 
管理人员和董事的保留:通过本次交易,刘发宽成为RS的最大股东。因此,刘发宽有权按照适用法律和规则中规定的某些程序对RS的董事和管理人员进行变更。尽管如此,刘发宽同意并承诺保留现有的管理人员和董事,但前提是他们愿意继续以各自的身份任职。双方同意,刘发宽可以随时任命更多的管理人员和董事。
 
DESCRIPTIVE IMAGES: 
Seller has provided a series of photographic images to RS which Seller has presented as accurate, current, images of some of the assets owned by Wandi including office space, construction in progress, processing facilities, mine access points and more. Seller hereby warrants the accuracy of such representations and the images themselves are attached hereto and made a part hereof by reference.
 
描述性图片:刘发宽已向RS提供了一系列的照片做为万迪所拥有的部分资产的准确、最新的图片展示,包括办公空间、在建工程、加工设施、矿山出入口等。刘发宽在此保证这些陈述和图像本身的准确性,并通过引用作为本协议的一部分。
 
PUBLIC STATUS OF BUYER: 
Seller recognizes that RS is a public company with shares listed for trading in the USA on the OTCQB under the symbol RSSV with reporting obligations to both the public and certain regulatory bodies including, but not limited to, FINRA, the SEC and OTC Markets. Seller agrees to a public announcement of this transaction and, further, to cooperate, upon reasonable notice, with any request made by RS to comply with the requirements imposed on RS by applicable rules and regulations, as determined by legal counsel of RS in their sole discretion, promptly and without delay. RS shall be responsible for any extraordinary expenses or costs suffered by Seller for such requests.
 
买方的公开身份:刘发宽承认RS是一家上市公司,其股票以代码RSSV在美国的OTC QB上市交易,对公众和某些监管机构, 包括但不限于FINRA,SEC和OTC Markets都有报告义务。刘发宽同意对此次交易进行公告,且在收到合理通知后,立即毫不延迟的配合RS提出的任何要求,以遵守RS律师全权决定的适用规则和条例中对RS的要求。RS应承担刘发宽因此类要求而发生的任何特别费用或成本。
 

	 
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SUPER 8-K REQUIREMENT: 
This transaction is of sufficient size and consequence to RS that SEC regulations require the filing of a Form 8K describing the transaction within 4 days of closing and a Super 8K within 71 days of closing which includes an audited financial statement of the combined companies. Seller warrants that it understands the requirements of this clause and are able to provide an audited statement of Wandi by the auditors of RS within 30 days of closing in order to allow the auditors up to 40 days to prepare the compilation.
 
SUPER 8-K 要求:该交易对RS具有足够的规模和后果,因此SEC法规要求在交易完成后4天内提交描述交易的8K表格和在71天内提交包括合并公司经审计的财务报表的SUPER 8K表格。刘发宽保证其理解本条款的要求,并能够在交割后30天内提供万迪的已经过RS审计师审计过的报表,以便RS的审计师在40天内准备汇编。
 
SHARE VALUE: 
RS makes no warranty or promise regarding the future value of its common shares in the public markets.
 
股票价值:RS对其普通股的未来在市场上的股价不做任何保证或承诺。
 
GOVERNING LAW: 
This agreement has been entered in and shall be governed by the laws of the State of Nevada of USA.
 
适用法律:该协议已签订,并受美国内华达州法律的管辖。
 
ENTIRE AGREEMENT: 
This document represents the entire agreement between The Parties and cannot be modified except in writing.
 
完整协议:本文件代表双方之间的全部协议,除非以书面形式,否则不得修改。
 
PARAGRAPH HEADINGS: 
Paragraph headings are provided for informational purposes only and do not affect the meaning of the paragraph.
 
段落标题:段落标题仅用于提供信息,并不影响段落的含义。
 
Executed as of the date first written above.
 
开始执行日期为上文所写的第一个日期。
 
If there is any discrepancy of this agreement between the future amended or supplementary agreement to be signed by the parties who entering this agreement, the inconsistency with this agreement will be implemented in accordance with the relevant provisions of the amended or supplementary agreement
 
如果将来此协议主体双方签订任何相对于此协议的修改协议或补充协议,其中与本协议的相违部分将按照修改协议或补充协议相关条款执行。
 

	 
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EXHIBIT A:
 
Assets owned by You Zhou Shenhuo Kuanfa Mining Company and Henan Wandi Mining Product Development Co, Ltd
 
附件A:
 
禹州神火宽发矿业有限公司与河南万迪矿产品开发有限公司拥有的资产
 
以下无正文
 
Resort Savers, Inc. Liu Fakuan

  
	Resort Savers, Inc. 

	Liu Fakuan

	
	   	    	
	Signature by/签字: /s/ Ding-Shin Chang
	Signature by/签字: /s/ Liu Fakuan
	
	Name/签字人: Ding-Shin Chang/张鼎欣
	Name/签字人: Liu Fakuan/刘发宽
	
	Title/职务: Chief Executive Officer首席执行官
		
	   
	   
	 

	Date/日期: 
	Date/日期: 2020/02/24
	

 

	 
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EXHIBIT A
 
Assets owned by You Zhou Shenhuo Kuanfa Mining Company and Henan Wandi Mining Product Development Co, Ltd
 
附件A
 
禹州神火宽发矿业有限公司与河南万迪矿产品开发有限公司拥有的资产
 
(please see separate page attached 见单独附件 ) 
 

	 
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