Document:

f8k091710ex10ii_mobilebit.htm

 

Exhibit 10.2

 

MOBILEBITS CORPORATION SHARE PURCHASE AGREEMENT

 

WHEREAS THIS AGREEMENT is made and entered into this 28th day of September, 2010, by and between MOBILEBITS CORPORATION, being incorporated pursuant to the laws of the State of Florida, having its principle place of business at 1990 Main Street, Suite 750, Sarasota, Florida 34236 (the "Seller") and Gaia Investments Limited, a limited corporation (the "Purchaser");

 

AND WHEREAS, the Seller is, the owner of shares in MobileBits Corporation (the "Company"), a corporation incorporated pursuant to the laws of the State of Florida, USA.

 

AND WHEREAS, the Purchaser (an Accredited Investor as defined in Schedule A) desires to purchase 10,000,000 shares of the company at a price of $0.50 USD per share.

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby expressly acknowledged by the parties hereto, in order to consummated the purchase and the sale of the Company's Shares aforementioned, it is hereby agreed by and between the parties as follows:

 

1. PURCHASE AND SALE: Subject to the terms and conditions hereinafter set forth, at the closing of the transaction contemplated hereby ("Closing"), the Purchaser shall purchase from the Seller all of the said Shares in consideration of the purchase price set forth in this Agreement and the Seller shall convey, transfer, and deliver to the Purchaser certificates and/or cause to be electronically registered in the name of the Purchaser irrefutable evidence of ownership of 10,000,000 Shares. Closing shall take place no later than 30 days from the execution of this Agreement.

 

2. AMOUNT AND PAYMENT OF PURCHASE PRICE: The total consideration for these shares shall be $5,000,000 USD payable by check, bank wire, or bank draft (Schedule B) payable to MOBILEBITS CORPORATION at $0.50 per share USD for a total of 10,000,000 shares.

 

MobileBits has an option to draw up to an additional $5,000,000 in funding on the same terms, Each party has a right to refuse.

 

(a) Restrictions on Shares.

 

	
i.    

	
The Purchaser upon purchase of the shares will enter into a 1-year pooling agreement.

 

	
ii.  

	
The Seller is the lawful owner/holder of the Shares, free and clear of all security interests, liens, encumbrances, equities and/or other charges.

 

	
iii.  

	
There are no existing warrants, options, stock purchase agreements, redemption agreements, restrictions of any nature, calls or rights to subscribe of any character relating to the Shares, nor are there any securities of any form or kind convertible into such Shares.

 

 

  

  

  

 

	
  iv.   

	
The Shares are not subject to those restrictions imposed pursuant to Rule 144 promulgated under the Securities Act of 1933, as amended, which would prevent a public resale of the Shares by Purchase. The shares may be subject to a registration statement that will be filed bY the Company.

 

3. REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER:

 

The Seller and the Purchaser hereby represent and warrant that there has been no act or omission by the Seller, the Purchaser and/or the Corporation which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transaction(s) contemplated hereby.

 

4. GENERAL PROVISIONS:

 

	
(a)  

	
Entire Agreement. This Agreement (including the exhibits, schedules and attachments hereto, and any written amendments hereof executed by the parties) constitutes the entire Agreement and supersedes all prior agreements and understanding, oral and written, between the parties hereto with respect to the subject-matter hereof. Schedules are: Schedule B "Wire Instructions for MobileBits Corporation" and Schedule A "Accredited Investor Form".

 

	
(b)  

	
Sections and Other Headings. The section and other headings contained in this Agreement are for reference pui.poses only, and shall not affect the meaning or interpretation of this Agreement.

 

	
 (c) 

	
Governing Law. This agreement and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with the laws of the State of Florida. In the event that litigation results from or arises out of this Agreement or the performance thereof, the parties agree to reimburse the prevailing party's reasonable legal fees and disbursements, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be otherwise entitled.

 

IN WITNESS WHEREOF, this Agreement has been executed by each of the individual parties hereto on the date first above written.

 

Signed, sealed and delivered in the presence of:

MOBILEBITS CORPORATION

 

	 	 	 	 	 	 
	By: 	
/s/ Walter Kostiuk

	 	Date Signed:	
 
September 30, 2010

	 
	 	
Walter Kostiuk CEO

	 	 	
 

	 

 

	By: 	
 
/s/ Authorized Representative

	 	Date Signed:	
September 28, 2010

	 
	 	
 
Authorized Representative

	 	 	
 

	 
	 	
 

	 	 	
 

	 

 

  

  

  

 

Schedule "A"

 

Accredited Investor Form

 

For the purposes of the investments being offered by MobileBits Corporation, the relevant categories of Accredited Investors are:

 

	
1.  

	
Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer or general partner of a general partner of that issuer;

 

	
2.  

	
Any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of his/her purchase exceeds $1,000,000;

 

	
3.  

	
Any natural person who had individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year;

 

	
4.  

	
Any trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase of the securities is directed by a person who has such knowledge and experience in financial and business matters that he/she is capable of evaluating the merits and risks of the prospective investment;

 

	
   5.

	
Any organization that was not formed for the purpose of acquiring the securities being sold, with total assets in excess of $5,000,000; and

 

	
6.  

	
Any entity in which all of the equity owners are Accredited investors.

 

 

I, Authorized representative, hereby certify that I meet one or more of the criteria listed above.

 

Investor:       Gaia Investments Limited                             

 

 

 

 

 

 

  

  

  

 

 

 

Schedule "B"

 

Wire instructionsf8k093010ex10i_deyu.htm

 

 

Exhibit 10.1

 

FARMLAND TRANSFER AGREEMENT

Transferor:     Shanxi Jinbei Plant Technology Co. Ltd. (hereinafter “Party A”)

Address:          Jima Village, Zhuangzi, Yuci District, Jinzhong City

Transferee:     Detian Yu Biotechnology (Beijing) Co. Ltd. (hereinafter “Party B”)

Address:          Floor 8, Tower A, Century Center, 8 North Star Road, Chaoyang District, Beijing

THIS FARMLAND TRANSFER AGREEMENT (the “Agreement”) is entered into this September 30, 2010 by and between Party A and Party B.

WITNESSETH

          WHEREAS, the parties hereto desire to enter into this Agreement to define and set forth the terms and conditions of the transfer of farmland use rights between Party A and Party B.

          NOW, THEREFORE, in consideration of the mutual covenants and agreements as set forth below, and in compliance with the “Contract Law of the People’s Republic of China,” it is hereby covenanted and agreed by both parties as follows:

Land

          1. Pursuant to the “Certificates of Land Use Rights” No. 10015 [2003], No. 10020 [2003], No. 10024 [2003] and No. 10025 [2003] (“Land Certificates”), Party A duly owns the land use rights for the following properties (collectively, the “Land Use Rights”):

	
Certificate Number

	
Project

	
Location

	
Area (mu)

	
Term (year)

	
Purpose of Use

	
Farmland Certificate No. 10025 [2003]

	
Yaojiabeiliang, Zhaowangzubei and Cilinanliang in Guzhuang Village, Changning Town, Jinzhong City

	
East to the forest area of Qingcheng; West to the border of Wangzhuang and Shangzhuang;

South to the forest area of Qingcheng, and North to the border of Miaoling

	
14,000.00

	
43

	
Agricultural planting

	
Farmland Certificate No. 10015 [2003]

	
Panchanglingbei, Haoyangwei, Shenshan and Hepobei in Matou Village, Changning Town, Jinzhong City

	
East to the border of Xiamugua; West to the border of Shazhang; South to the border of Yangou, and North to Shijiapo

	
14,000.00

	
42

	
Agricultural planting

 

 

  

1

  

 

	
Farmland Certificate No. 10024 [2003]

	
Longkegou, Buhegou and Sanguangnao in Goukou Village, Changning Town, Jinzhong City

	
East to Matou; West to Yuanjiayu; South to Wangzhuang, and North to the border of Shangzhuan Village and Heshun

	
11,000.00

	
43

	
Agricultural planting

	
Farmland Certificate No. 10020 [2003]

	
Shengtianzu, Jiyangzhang, Shushunao and Dongnao in Shicaotou Village, Changning Town, Jinzhong City

	 	
14,000.00

	
42

	
Agricultural planting

	
Total

	 	 	
53,000.00

	 	 

 

          2. Party A hereby agrees to transfer the Land Use Rights to Party B.

Transfer of Land

          1. Within thirty (30) days after the execution of this Agreement, Party A shall prepare all transfer documents in compliance with the requirements of the land use regulatory agency (the “Agency”), and deliver the materials to the Agency for the transfer of the Land Use Rights to Party B. The transfer shall be deemed complete when Party A receives the notice of acceptance (the “Notice”) from the Agency.

           2. Within five (5) days after the execution of this Agreement, Party A shall transfer the land to Party B for possession (“Land Possession”) and sign a transfer checklist with Party B.

           3. Within ninety (90) days after the execution of this Agreement, Party A shall transfer the Land Use Rights to the account of Party A (the “Transfer of Land”).

Price and Payment

           1. The fee for this transfer shall be RMB19,415,000.

           2. Upon the execution of this Agreement, Party B shall pay the transfer price to Party A.

 

  

2

  

 

Representations and Warranties

          Party A represents and warrants as follows:

          1. Party A is a corporation duly organized, validly existing and in good standing under the laws of the People’s Republic of China.

          2. Party A legally owns the Land Use Rights and the ownership of all fixtures attached to the land. The land is free and clear of all liens, claims, encumbrances or restrictions of any kind.

           3. Party A will get all the legally required approvals necessary for the transfer, and

           4. Party A will complete all the transfer formalities.

           Party B represents and warrants as follows:

           1. Party B is a corporation duly organized, validly existing and in good standing under the laws of the People’s Republic of China, and

            2. Party B will duly perform the payment obligations under this Agreement.

Rights and Obligations

            1. Party A shall be entitled to the land transfer fee. Party B shall be liable if it violates this Agreement.

            2. Party A shall be responsible for all the land title transfer formalities and make sure all the transfer documents are effective and legal.

             3. Party B shall pay the transfer fee on time in accordance with the terms of this Agreement.

             4. Party B may control the land, acquire the Land Use Rights and conduct agricultural related activities after possession of the land.

              5. Party B agrees to use the land in a way that is in compliance with the laws of the People’s Republic of China.

Breach of Agreement

            1. Party A shall pay a penalty of RMB20,000 for each day delay in acquiring the notice of action, transfer of title or delivering the land to Party B for possession.

            2. Party B shall pay a penalty of RMB20,000 for each day delay in paying the land transfer fee.

 

  

3

  

 

Dispute Resolution

            All disputes arising from or related to this Agreement shall be submitted to the Jinzhong Arbitration Committee for arbitration in accordance with its current arbitration rules. Any award of the arbitrator(s) shall be final and binding on both parties.

Execution and Termination

            1. This Agreement shall become effective upon the seal or signature by the authorized representatives of both parties.

             2. Party B shall be entitled to unilaterally terminate this Agreement and request the reimbursement of the paid land transfer fee if the regulatory agency does not produce the notice of action or approve the transfer of title. Party A shall pay a penalty equal to 20% of the actual transfer fee if it breaches this Agreement.

Miscellaneous

             1. All other issues not addressed in this Agreement may be supplemented by an agreement as negotiated by both parties. The supplemental agreement shall have the same legal binding effect as this Agreement.

             2. This Agreement may be executed in seven (7) copies with each party holding two (2) copies and the remaining be used for administrative purposes.

Party A:   Shanxi Jinbei Plant Technology Co. Ltd.  (SEAL)

Party B:   Detian Yu Biotechnology (Beijing) Co. Ltd.  (SEAL)

Dated this 30th day of September, 2010

Place of Contract: Jinzhong City

 

 

4

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