SEC Contract Filing

Filing Date: 2015-02-25

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>shareexchange_ex10z3.htm
<DESCRIPTION>STOCK PURCHASE AGREEMENT
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<TITLE>STOCK PURCHASE AGREEMENT</TITLE>
<META NAME="author" CONTENT="Clifford Hunt">
<META NAME="date" CONTENT="02/25/2015">
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<DIV style="width:624px"><P style="margin:0px; font-size:12pt" align=center><B><U>SHARE EXCHANGE AGREEMENT </U></B></P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">This SHARE EXCHANGE AGREEMENT (&#147;Agreement&#148;) is entered into by and between Natural Gas Fueling and Conversion, Inc., a Florida corporation (the &#147;Company&#148;), Goran Antic (&#147;Antic&#148;) and ECI-LATAM, Inc., a Florida corporation (&#147;ECIL&#148;), and is effective as of the last date of execution set forth below. &nbsp;Antic, ECIL and the Company may each be referred to individually herein as a &#147;Party&#148; and collectively as the &#147;Parties.&#148; </P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">WHEREAS, the Company desires to acquire fifty-five percent (55%) of the issued and outstanding shares of common stock of ECIL (&#147;Target Shares&#148;) owned by Antic and as part of the transaction has agreed to issue three million (3,000,000) shares of restricted Company common stock to Antic at a price of fifteen cents ($0.15) per share in connection with a corporate re-organization and tax-free share exchange under Section 368 of the Internal Revenue Code of 1986, as amended; and &nbsp;</P>
<P style="margin:0px; font-size:12pt">&nbsp;</P>
<P style="margin:0px; text-indent:48px; font-size:12pt">WHEREAS, Antic desires to acquire shares of restricted common stock from the Company in exchange for Antic&#146;s Target Shares pursuant to this Agreement.</P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">NOW THEREFORE, in exchange for good and value consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:</P>
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<P style="margin:0px; font-size:12pt"><B><U>1. Securities Exchanged </U></B></P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">Subject to the terms and conditions of this Agreement, the Company agrees to issue to Antic and Antic agrees to accept three million (3,000,000) shares of restricted Company common stock valued at a price of fifteen cents ($0.15) per share (the &#147;Shares&#148; or &#147;Securities&#148;) in exchange for the Target Shares owned by Antic and transferred to the Company pursuant to this Agreement. &nbsp;Antic and ECIL represent and warrant to the Company that there are fifteen million (15,000,000) shares of ECIL common stock issued and outstanding. &nbsp;Antic agrees to transfer to the Company a total of eight million, two hundred fifty thousand (8,250,000) Target Shares, representing fifty-five percent (55%) of the issued and outstanding shares of ECIL common stock. &nbsp;The Parties agree that the exchange of securities pursuant to this Agreement shall occur in connection with a corporate re-organization and tax-free share exchange under Section 368 of the Internal Revenue Code of 1986, as amended.</P>
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<P style="margin:0px; font-size:12pt"><B><U>2. &nbsp;Non-registration of Securities</U></B></P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">The Shares and the Target Shares to be exchanged by the Parties will not be registered under the Securities Act of 1933, as amended, or any state&#146;s securities laws, on the grounds that the transaction in which the Shares are to be issued either qualifies for applicable exemptions from the securities registration requirements of such statutes or such registration requirements have been satisfied. &nbsp;The exemptions being claimed include, but are not necessarily limited to, those available under Section 4(2) of the Securities Act, the judicially created Section 4(1&#189;) exemption and, the reliance by the Company upon the exemptions from the securities registration requirements of the </P>
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<P style="margin:0px; font-size:12pt; page-break-before:always">federal and state securities laws is predicated in part on the representations, understandings and covenants set forth in this Agreement.</P>
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<P style="margin:0px; text-indent:48px; font-size:12pt">Antic understands that, in furtherance of the transfer restrictions stated above:</P>
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<P style="margin:0px; text-indent:96px; font-size:12pt">(i) The Company will record stop transfer instructions in its stock record books to restrict an impermissible resale or other transfer of the securities; and</P>
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<P style="margin:0px; text-indent:96px; font-size:12pt">(ii) Each document evidencing the Securities will bear a restrictive legend in substantially the following form:</P>
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<P style="margin:0px; padding-left:48px; padding-right:48px; font-size:12pt">The shares evidenced by this certificate have not been registered under either the Securities Act of 1933, as amended, or the securities laws of any state. &nbsp;These securities may not be offered for sale, sold, assigned, pledged, hypothecated, or otherwise transferred: at any time absent either (A) registration of the transaction under the Securities Act of 1933, as amended, and every other applicable state securities law or (B) the issuer&#146;s receipt of an acceptable opinion of counsel that registration of the transaction under those laws is not required.</P>
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