SEC Contract Filing

Filing Date: 2022-07-19

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>deseo_ex101.htm
<DESCRIPTION>STOCK PURCHASE AGREEMENT
<TEXT>
<html><head><title>deseo_ex101.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman; MARGIN-LEFT: 7%; MARGIN-RIGHT: 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp; <strong>EXHIBIT 10.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>STOCK PURCHASE AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">This&nbsp;<strong>STOCK PURCHASE AGREEMENT</strong>, dated as of July 15, 2022, is made by and between <strong>Michael Rosen</strong> (the &#8220;<u>Seller</u>&#8221;), and <strong>Ricks Investments, LLC</strong> (the &#8220;<u>Buyer</u>&#8221;). Buyer and the Seller are sometimes hereinafter collectively referred to as the &#8220;<u>Parties</u>.&#8221;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>WHEREAS</strong>, Seller is the legal and beneficial owner of 38,500,000 shares (the &#8220;<u>Shares</u>&#8221;) of common stock, par value $0.001 per share (the &#8220;<u>Common Stock</u>&#8221;) of Deseo Swimwear Inc., a Nevada corporation (the &#8220;<u>Company</u>&#8221;); and</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>WHEREAS</strong>, for good and valuable consideration, Seller desires to transfer and sell to Buyer all right, title and interest in all of the Shares and Buyer desires to purchase all such right, title and interest in all of the Shares;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>NOW THEREFORE</strong>, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 0.5in; text-align:justify;"><strong>1.&nbsp;<u>Sale of Shares</u>.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 0.5in; text-align:justify;">(a)&nbsp;<u>Shares to be Acquired</u>. At the Closing, and upon the terms and subject to the conditions of this Agreement, and upon the representations, warranties and covenants herein made, the Seller shall transfer and sell to Buyer, and Buyer agrees to purchase from the Seller, all of the Shares for the Purchase Price set forth in Section 1(b) below.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 0.5in; text-align:justify;">(b)&nbsp;<u>Purchase Price</u>. Upon the terms and subject to the conditions set forth in this Agreement, upon the representations, warranties and covenants made herein, and in consideration of its acquisition of the Shares from the Seller, Buyer hereby agrees to deliver to the Seller at the Closing a promissory note payable to the Seller (the &#8220;<u>Note</u>&#8221;) in the form attached as <strong><u>Exhibit A </u></strong>hereto, in a principal amount equal to Two Hundred Five Thousand Five Hundred&nbsp; Thirty Three Dollars ($205,533) (the &#8220;<u>Purchase Price</u>&#8221;).&nbsp; At the Closing, Buyer shall also enter into that certain Pledge and Security Agreement (the &#8220;<u>PSA</u>&#8221;) in the form attached as <strong><u>Exhibit B</u></strong> hereto.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 0.5in; text-align:justify;">(c) <u>Payment of Company Debt</u>.&nbsp; On the date this Agreement is executed, Buyer has paid Jon Darmstadter (&#8220;<u>JD</u>&#8221;) seventy-five thousand Dollars ($75,000) on behalf of the Company, in partial payment (the &#8220;<u>First Payment</u>&#8221;) of the One Hundred Twenty-Seven Thousand Three Hundred and Four Dollars ($127,304) debt owed by the Company to JD.&nbsp; At the Closing, Buyer shall pay JD the remaining fifty-two thousand three hundred four Dollars ($52,304) on behalf of the Company (the &#8220;<u>Second Payment</u>&#8221;).&nbsp; The First Payment shall be non-refundable, even in the event the Closing does not occur.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="margin:0px"> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"></td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table></p> <p style="m