SEC Contract Filing

Filing Date: 2018-09-28

Document Content:
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<TYPE>EX-10
<SEQUENCE>2
<FILENAME>dtstmagrknitbarker092818.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">THIS DEBT SETTLEMENT AGREEMENT</FONT></B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"> made as of the 28<SUP>th</SUP> day of September, 2018.</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">BETWEEN:</FONT></B></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">KINETIC GROUP INC., a company duly incorporated under the laws of the State of Nevada and having its registered office situated at 12001 Research Parkway, Suite 236, Orlando, Florida 32826</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -92.4pt; MARGIN: 0cm 0cm 0pt 92.4pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">(hereinafter called the "Debtor")</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">OF THE FIRST PART</FONT></B></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">AND:</FONT></B></P>
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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">TIMOTHY BARKER, an individual of 701 South Carson St, Ste 200, Carson City NV 89701</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -92.4pt; MARGIN: 0cm 0cm 0pt 92.4pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">(hereinafter called the "Creditor")</FONT></P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: -92.4pt; MARGIN: 0cm 0cm 0pt 92.4pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">OF THE SECOND PART</FONT></B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"> </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 18pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">WHEREAS</FONT></B><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As at the date hereof, the Debtor is indebted to the Creditor in the amount of $26,451.61 (the "Debt") for management fees incurred by the Debtor; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 12pt; LETTER-SPACING: -0.15pt; FONT-SIZE: 12pt" lang=EN-GB face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Creditor has agreed to donate the said Debt to the company&#146;s contributed capital in full satisfaction of the Debt.</FONT></P>
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