SEC Contract Filing

Filing Date: 2022-05-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101ext.htm
<DESCRIPTION>LETTER OF INTENT
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Letter of Intent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>A Non-Definitive Agreement</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><IMG SRC="image_016.jpg" ALT="Logo, company name&#10;&#10;Description automatically generated" STYLE="height: 96px; width: 109px"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">May 6, 2022</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prepared by Koichi Ishizuka</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Letter
of Intent</U></B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following represents a summary
of the terms of a collective proposal regarding an acquisition by Dr. Foods, Inc., a Nevada corporation (&ldquo;DRFS&rdquo; or the &ldquo;Company&rdquo;),
or by its wholly-owned subsidiary, Dr. Foods Co., Ltd., of one hundred percent of the issued and outstanding stock (100%) of Mama Foods
Co., Ltd. (&ldquo;MAMA&rdquo;), a Japan corporation, from White Knight Co., Ltd. (&ldquo;WKC&rdquo;), a Japan corporation. The sole shareholder
of MAMA is WKC. WKC is owned and controlled by Koichi Ishizuka. Koichi Ishizuka is Chief Executive Officer, Chief Financial Officer, and
Director of DRFS, MAMA, and WKC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Background of Mama Foods Co., Ltd., (&ldquo;MAMA&rdquo;
or &ldquo;Mama Foods&rdquo;):</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-size: 12pt"><I>Mama Foods, Co., Ltd. is a Japanese
food company founded in 1958, currently offering customers in Japan wholesale and retail products centering on Japanese side dishes, from
chilled foods to packed and sterilized food. Mama Foods uses ingredients carefully taken from natural kelp and bonito without adding any
chemical seasonings, preservatives, coloring agents, etc. Mama Foods has two existing &ldquo;in house&rdquo; production facilities and
produces 100% of its current product offerings. From time to time, it also produces products of other third parties. Currently, Mama Foods
employs approximately 43 individuals. In 2021, White Knight Co., Ltd. acquired 100% of Mama Foods from its prior controller, in exchange
for approximately 1 million USD. The current website for Mama Foods, which includes additional information, can be found here: </I></FONT><I>mama-foods.com/en/</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>NOTICE</B>: The below terms, conditions, and consideration to be exchanged
pursuant to a future definitive agreement for an acquisition of MAMA by DRFS from WKC may be changed, and or renegotiated, if agreed upon
by all parties. If this is to occur prior to entering into a binding definitive agreement, any such material change(s) to this letter
of intent will be made public by DRFS via a Form 8-K it will file with the Securities and Exchange Commission.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;This Letter of Intent (&quot;Letter
of Intent&quot;) sets forth the agreement of the parties to proceed promptly and in good faith to complete the terms of, and to execute,
deliver and perform a Stock Purchase Agreement (the &ldquo;Definitive Agreement&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Letter of Intent shall expire
on June 30, 2022, or until the parties enter into the Definitive Agreement, whichever occurs first, with an outside anticipated closing
date of the transaction no later than thirty (30) days from the date the Definitive Agreement is executed by all parties, or such other
date for closing as is set forth in said Agreement. &nbsp;Upon written request to WKC, DRFS shall be entitled to a 30-day extension of
the expiration date of this Letter of Intent should any extension be necessary due to delays in completing the due diligence review pursuant
to&nbsp;<U>Section 5</U>&nbsp;below, or in satisfying any of the conditions in&nbsp;<U>Section 4</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The transaction will b