Document:

searchcore_ex1023.htm

EXHIBIT 10.23

 

CANCELLATION AGREEMENT

This Cancellation Agreement (the “Agreement”) is entered into effective August 14, 2012 (the “Effective Date”) by and between SearchCore Inc., a Nevada corporation (the “Company”) and Keith Hoerling, an individual (“Hoerling”). Each of the Company and Hoerling may be referred to herein as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, the Company has previously entered into that certain Agreement and Plan of Reorganization and Merger, dated November 19, 2010 (the “Reorganization Agreement”) by and among the Company and WeedMaps Media, Inc., a Nevada corporation (f/k/a Weedmaps, LLC, a Nevada limited liability company) (“WeedMaps”);

 

WHEREAS, pursuant to the Reorganization Agreement, the Company and Hoerling entered into (i) certain Promissory Notes and amendments thereto, whereby Hoerling was paid in accordance with the Notes (the “Original Notes”), and (ii) an Employment Agreement whereby Hoerling was employed by the Company and received certain compensation for his services (the “Employment Agreement”);

 

WHEREAS, the Parties desire to cancel the Original Notes, cancel the earn out provisions of the Reorganization Agreement and enter new agreements pursuant to a Global Securities Purchase Agreement of even date herewith (the “Global Agreement”).

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

AGREEMENT

 

1. As consideration under the Global Agreement, the Parties hereby cancel (i) the Original Notes and any and all obligations contained therein, and (ii) the earn out provisions of the Reorganization Agreement. The Employment Agreement shall remain in full force and effect.

 

[remainder of page intentionally left blank, signatures to follow]

  

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first written above.

 

 

	
“Company”

	 	  	 
	  	 	  	 
	
SearchCore, Inc.,

	 	  	 
	
a Nevada corporation

	 	  	 
	  	 	  	 
	  	 	  	 
	
/s/ James Pakulis

	 	
/s/ Keith Hoerling

	 
	
By:           James Pakulis

	 	
Keith Hoerling, an individual

	 
	Its:           President and Chief Executive Officer	 	 	 

 

 

 

 

2searchcore_ex1024.htm

EXHIBIT 10.24

 

DOMAIN HOLDING AND TRANSFER AGREEMENT

This Domain Holding and Transfer Agreement is entered into this 13th day of August, 2012, by and between Brad Nelms, an individual (“Nelms”), and SearchCore, Inc., a Nevada corporation.

RECITALS

WHEREAS, Nelms is employed by SearchCore;

WHEREAS, Nelms has purchased, and may in the future purchase, certain domain names (the “Domain Names”) in his personal name, but on behalf and for the benefit of, SearchCore;

WHEREAS, Nelms has entered into, and may in the future enter into, purchase agreements for the Domain Names so as to conceal the identity of SearchCore as the purchaser for market reasons;

WHEREAS, Nelms and SearchCore desire to enter into this agreement to govern the transfer of the Domain Names to SearchCore.

NOW, THEREFORE, for good and adequate consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

AGREEMENT

1.           Nelms will, as soon as reasonably practicable, and upon the demand of SearchCore, transfer the Domain Names to SearchCore, or its assigns.

2.           SearchCore will, during any period of time in which the Domain Names are held in the name of Nelms, pay all expenses associated with holding or transferring the Domain Names.

IN WITNESS WHEREOF, the parties have entered into this agreement on the date first set forth above.

 

 

	
“Nelms”

	 	
“SearchCore”

	 
	  	 	  	 
	  	 	
SearchCore, Inc.,

	 
	  	 	
a Nevada corporation

	 
	  	 	  	 
	  	 	  	 
	
/s/ Brad Nelms 

	 	
/s/ James Pakulis

	 
	
Brad Nelms, an individual

	 	
By:           James Pakulis

	 
	  	 	
Its:           President and Chief  Executive Officersearchcore_ex1025.htm

EXHIBIT 10.25

 

DOMAIN NAME PURCHASE AGREEMENT

 

This Domain Name Purchase Agreement (the “Agreement”) is entered into effective August 16, 2012 (the “Closing Date”) by and between John Thalacker, an individual, dba Traffico (the “Seller”) and Brad Nelms, an individual (the “Buyer”).  Each of the Seller and the Buyer may be referred to herein as a “Party” and collectively as the “Parties.”

RECITALS

WHEREAS, Seller is the owner of the domain name known as www.manufacturedhomes.com (the “Domain Name”);

WHEREAS, Seller desires to sell, and Buyer desires to purchase, the Domain Name on the terms and conditions set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows:

AGREEMENT

 

1. Seller hereby agrees to sell, and Purchaser hereby agrees to purchase, the Domain Name.

 

2. The purchase price for the Domain Name shall be One Hundred Thirty Thousand Dollars ($130,000.00) (the “Purchase Price”), payable at Closing.  The closing (“Closing”) shall take place on August 16, 2012, or such date that the parties shall agree (the “Closing Date”).

 

On the Closing Date, the Seller will transfer to Escrow.com, free and clear from any and all liens and encumbrances other than those created by the escrow, all right, title and interest in and to the Domain Name, including any trademark rights associated with the Domain Name and all internet traffic to the Domain Name, in accordance the terms of a written escrow agreement acceptable to the Parties.

 

3. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the Party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day, or (c) upon personal delivery if deposited with a recognized courier with written verification of receipt. All communications shall be sent as follows:

 

	 	If to Seller:	John Thalacker
	 	 	dba Traffico
	 	 	1543 W. 4th Street
	 	 	Irving, TX  75060
	 	 	thalacker@verizon.net

 

  

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	 	If to Buyer: 	Brad Nelms
	 	 	25422 Trabuco Road #105
	 	 	Lake Forest, CA 92630
	 	 	BWNelms@gmail.com

 

or at such other address as the Seller or Buyer may designate by ten (10) days advance written notice to the other Party hereto.

4. This Agreement sets forth the entire understanding of the Parties and supersedes any prior agreement or understanding relating to the subject matter hereof.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by all the Parties.  No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver.  No waiver shall be binding unless executed in writing by the Party making the
waiver.

5. Neither Party may assign, sell, transfer or otherwise convey, pledge or encumber any of its rights, obligations or interests under this Agreement without the prior written consent of the Party.

6. Except as otherwise provided herein, the provisions hereof shall insure to the benefit of, and be binding upon, the successor, assigns, heirs, executors and administrators of the Parties hereto

7. This Agreement shall be governed by and construed in accordance with the laws of the State of California.  In the event that any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable or void in any jurisdiction to be unenforceable or void in any jurisdiction, the other provisions of this Agreement shall remain in full force and effect under applicable law and shall be construed in order to effectuate the purpose and intent of this Agreement.  Any action brought by any party hereto shall be brought in the courts located in Orange
County California.

8. Except as otherwise provided herein, if a dispute should arise between the Parties including, but not limited to arbitration, the prevailing party shall be reimbursed by the non-prevailing party for all reasonable expenses incurred in resolving such dispute, including reasonable attorneys' fees.

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first written above.

 

 

	
“Seller”

	 	
“Buyer”

	 
	  	 	  	 
	  	 	  	 
	
/s/ John Thacker

	 	
/s/ Brad Nelms

	 
	
John Thalacker, an individual

	 	
Brad Nelms, an individual

	 

 

 

 

Page 3 of 3borneo_ex101.htm

EXHIBIT 10.1

 

PURCHASE AGREEMENT

 

THIS AGREEMENT made as of the 22nd day of March 2013.

 

	
BETWEEN:

	
PT PUNCAK KALABAT, an Indonesia corporation having its registered office at Kab. Minahasa Utara (the "Seller")

 

	
AND:

	
BORNEO RESOURCE INVESTMENTS, LTD., a Nevada corporation having its registered office at 19125 North Creek Parkway, Suite 120, Bothell, Washington 98011 USA (the "Purchaser")

 

WHEREAS:

 

A. The Seller is the owner of 30 Ha of land located in Kab. Minahasa Tenggara, Kec. Ratatotok, Ratatotok, Ds., including anything growing and built on the land (the “Property”), which, pursuant to the legislative provisions, may be categorized as immovable property, including any mined gold processing plant ;

 

B. The Seller hereby agrees to sell to the Purchaser and the Purchaser hereby agrees to purchase the Property for a total consideration of $2 million (US$2,000,000) and on the terms and conditions hereinafter set forth;

 

NOW THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the sum of US$5,000 now paid by the Purchaser to the Seller (the receipt of which is hereby acknowledged), the parties agree as follows:

 

DEFINITIONS

 

1. For the purposes of this Agreement the following words and phrases shall have the following meanings, namely:

 

	  	
(a)

	
"Agreement" means the agreement to acquire the Property as provided in this Agreement;

	  	  	  
	  	
(b)

	
"Payment Period" means the period from the date of this Agreement to and including the date of the final payment made by the Purchaser to the Seller as provided below;

	  	  	  
	  	
(c)

	
"Property Rights" means all licenses, permits, easements, rights-of-way, certificates and other approvals obtained by either of the parties either before or after the date of this Agreement and necessary for the exploration of the Property;

 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SELLER

 

	
2.

	
(a)

	
The Seller represents and warrants to and covenants with the Purchaser that:

	 	 	 
	  	
(i)

	
it is legally entitled to hold the Property and the Property Rights and will remain so entitled until the interest of the Seller in the Property which is subject to the Agreement has been duly transferred to the Purchaser as contemplated hereby;

	  	  	  
	  	
(ii)

	
it is, and at the time of each transfer to the Purchaser of an interest in the mineral claims comprising the Property pursuant to the exercise of the Agreement it will be, the recorded holder and beneficial owner of all of the mineral claims comprising the Property free and clear of all liens, charges and claims of others, and no taxes or rentals are or will be due in respect of any of the mineral claims;

	  	  	  
	  	
(iii)

	
the mineral claims comprising the Property have been duly and validly located and recorded pursuant to the laws of the jurisdiction in which the Property is situate and, are in good standing with respect to all filings, fees, taxes, assessments, work commitments or other conditions on the date hereof ;

	  	  	  
	  	
(iv)

	
there are not any adverse claims or challenges against or to the ownership of or title to any of the mineral claims comprising the Property, nor to the knowledge of the Seller is there any basis therefor, and there are no outstanding agreements or options to acquire or purchase the Property or any portion thereof; and

	  	  	  
	  	
(v)

	
it has been duly incorporated, amalgamated or continued and validly exists as a corporation in good standing under the laws of its jurisdiction of incorporation, amalgamation or continuation.

 

  

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REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PURCHASER

 

	
3.

	
(a)

	
The Purchaser represents and warrants to and covenants with the Seller that:

	  	
(i)

	
it has been duly incorporated, amalgamated or continued and validly exists as a corporation in good standing under the laws of its jurisdiction of incorporation, amalgamation or continuation;

	  	  	  
	  	
(ii)

	
it has duly obtained all corporate authorizations for the execution of this Agreement and for the performance of this Agreement by it, and the consummation of the transactions herein contemplated will not conflict with or result in any breach of any covenants or agreements contained in, or constitute a default under, or result in the creation of any encumbrance under the provisions of the Articles or the constating documents of the Purchaser or any shareholders' or directors' resolution, indenture, agreement or other instrument whatsoever to which the Purchaser is a party or by which it is bound or to which it or the Property may be subject;

 

PAYMENT SCHEDULE

 

	
4.

	
(a)

	
Payments to the Seller from the Purchaser, with respect to its acquisition of the Property shall be made as follows:

	 	(a) 	$5,000 on execution of this Agreement, receipt of which is duly acknowledged (“First Payment);
	  	
(b)

	
a further $45,000 on or before April 30, 2013 (“Second Payment”);

	  	
(c)

	
a further $450,000 on or before June 30, 2013 (“Third Payment”); and

	  	
(d)

	
a final payment of $1,500,000 on or before December 31, 2013.

 

	
5.

	
(a)

	
Following the execution of this Agreement, the Seller shall not, directly or indirectly, with respect to the Property, solicit, initiate, encourage, entertain or participate in any inquiries or proposals from, discuss or negotiate with, provide any information to, consider the merits of any inquiries or proposals from, or enter into any term sheet, letter of intent or contract with, any person or entity (including any of its officers or employees).

	 	 	 
	 	(b)	After receipt of the Second Payment by the Seller, the Seller shall deliver to the Purchaser duly executed transfers of the appropriate interest in the Property.

 

RIGHT OF ENTRY

 

6. Throughout the Payment Period the directors and officers of the Buyer and its servants, agents and independent contractors, shall have the sole and exclusive right in respect of the Property to:

 

	  	
(a)

	
enter thereon;

	  	  	  
	  	
(b)

	
do such prospecting, exploration, development and other mining work thereon and thereunder as the Purchaser in its sole discretion may determine advisable; and

	  	  	  
	  	
(c)

	
remove therefrom and dispose of reasonable quantities of ores, minerals and metals for the purposes of obtaining assays or making other tests.

 

  

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OBLIGATIONS OF THE PURCHASER DURING OPTION PERIOD

 

7. During the Payment Period, the Seller shall:

 

	  	
(a)

	
maintain in good standing those mineral claims comprising the Property by the doing and filing of assessment work or the making of payments in lieu thereof, by the payment of taxes and rentals, and the performance of all other actions which may be necessary in that regard and in order to keep such mineral claims free and clear of all liens and other charges arising from the Seller's activities thereon except those at the time contested in good faith by the Seller;

	  	  	  
	  	
(b)

	
record all exploration work carried out on the Property by the Seller as assessment work;

	  	  	  
	  	
(c)

	
permit the directors, officers, employees and designated consultants of the Purchaser, at their own risk and expense, access to the Property at all reasonable times, and the Seller agrees to

	  	  	  
	  	
(d)

	
do all work on the Property in a good and workmanlike fashion and in accordance with all applicable laws, regulations, orders and ordinances of any governmental authority;

	  	  	  
	  	
(e)

	
deliver to the Purchaser, forthwith upon receipt thereof, copies of all reports, maps, assay results and other technical data compiled by or prepared at the direction of the Seller with respect to the Property.

 

TRANSFERS

 

	
8.

	
(a)

	
The Purchaser may at any time either during the Payment Period or thereafter, sell, transfer or otherwise dispose of all or any portion of its interest in and to the Property and this Agreement.

 

GENERAL

 

	
9.

	
(a)

	
This Agreement shall supersede and replace any other agreement or arrangement, whether oral or written, heretofore existing between the parties in respect of the subject matter of this Agreement.

	  	  	  
	  	
(b)

	
No consent or waiver expressed or implied by either party in respect of any breach or default by the other in the performance by such other of its obligations hereunder shall be deemed or construed to be a consent to or a waiver of any other breach or default.

	 	 	 
	  	
(c)

	
The parties shall promptly execute or cause to be executed all documents, deeds, conveyances and other instruments of further assurance and do such further and other acts which may be reasonably necessary or advisable to carry out fully the intent of this Agreement or to record wherever appropriate the respective interest from time to time of the parties in the Property.

	  	  	  
	  	
(d)

	
This Agreement shall enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

	  	  	  
	  	
(e)

	
This Agreement shall be governed by and construed in accordance with the laws of Indonesia.

	  	  	  
	  	
(f)

	
Any reference in this Agreement to currency shall be deemed to be United States currency.

	  	  	  
	  	
(g)

	
This Agreement may be executed in several parts in the same form and such parts as so executed shall together constitute one original agreement, and such parts, if more than one, shall be read together and construed as if all the signing parties hereto had executed one copy of this Agreement.

  

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IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

 

Airmaddi, 22nd March 2013

 

	
PT PUNCAK KLABAT

	  
	
by its authorized signatory:

	  
	  	  
	/s/	  
	
Grace Sophia Judi Sarendatu SH.

	  
	
President & Director

	  
	  	  
	
 

 

BORNEO RESOURCE INVESTMENTS LTD.

	  
	
by its authorized signatory:

	  
	  	  
	/s/	  
	
Nils Ollquist

	  
	
President & CEO

	  

 

	
AGREED BY

	  
	  	  
	/s/	  
	
Sanding Dongdong

	  

 

 

 

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